
Federal Agency Begins Inquiry into Auto Lenders’ Use of GPS Tracking - JumpCrisscross
https://www.nytimes.com/2017/02/19/business/dealbook/gps-devices-car-loans.html?em_pos=small&emc=edit_dk_20170221&nl=dealbook&nl_art=17&nlid=65508833&ref=headline&te=1
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dsfyu404ed
Subprime auto lending is a result of subprime home loans going out of vogue.
It's trashed the used car market and does not make things easier for anyone
trying to live within their means.

Maybe we should stop playing whack-a-mole and address the underlying issue.

>In Nevada, one woman testified to the Legislature that her car had been shut
down on a freeway.

Remote control technologies stacks (e.g. OnStar) are also arguably critical
infrastructure and need to be viewed as such from a
security/reliability/control perspective. Lenders don't get to monkey around
with the power grid.

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LorenPechtel
Every actual gripe I see is from people who didn't pay their bill and then got
upset when their car stopped working.

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imbeau
It's easy to blame the people who can't afford to pay their bills but it
misses the point.

First, someone who misses their car payment shouldn't find themselves in
physical danger. Having your car shut down while it is running is incredibly
dangerous and unjustified.

Second, most of these people are being preyed on by lenders who know they
cannot pay the loan on their car. The business model is no longer helping
someone find a vehicle, but rather renting them a vehicle in the short term
and expecting them to default so you can sell the same car over and over
again.

It's much easier and more comforting to blame the victims of this fraudulent
business model than it is to examine and fix the underlying issue with
predatory loans in this country.

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walrus01
Sub prime auto lending:
[https://www.youtube.com/watch?v=4U2eDJnwz_s](https://www.youtube.com/watch?v=4U2eDJnwz_s)

