Ford files to repossess cars affiliated with missing payments remotely
Luke Gentile
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The Ford Motor Co. filed for a patent relating to technology that would remotely repossess cars affiliated with missing payments.
“An owner of a vehicle may default on a payment towards a vehicle for various reasons. The lender may send a default payment notice to the owner, followed by a notice of intent to initiate repossession proceedings if the payment is not fulfilled within a certain period of time,” the patent application said.
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“The owner of the vehicle may opt to disregard the notice,” it added. “After additional warnings, the lender may repossess the vehicle. Typically, the owner is uncooperative at this time and may attempt to impede the repossession operation. In some cases, this can lead to confrontation. It is therefore desirable to provide a solution to address this issue.”
Numerous examples of how owners could be inconvenienced remotely relating to their missing payments are included.
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Vehicles could be tracked and compared via GPS and be rendered disabled through “kill switches.”
Experts reportedly see Ford’s move as one of preparation amid rising prices and interest rates and inflation repercussions.