If you have a history of late car payments, don't be surprised if you get a free electronic device to take with you when you buy your next new vehicle. No, it's not an iPod, it's probably going to be an On Time. On Time? Yes, On Time. Manufactured by Temecula, California based Sekurus, the On Time is an ignition lockout device that will alert drivers when there are 3 or fewer days left before their next payment is due. After counting down, drivers will hear a beep and then experience a complete lockout unless they get their payment in.
Some Arizona dealers are apparently using it already. Sekurus claims the devices, which run from $220-$260, are being used by more than 1,500 dealerships and have been installed in a quarter million vehicles.
So far the plan is to use these only on subprime deals, or for buyers with no credit history. Alan Underwood, manager of Jones Auto Outlet in Mesa, has used the On Time devices for more than two years. "It reduces the collections/repossession rate drastically, from maybe 25 percent to 5 or 6 percent," Underwood said. "It teaches people who haven't had that training to make payments on time."
The On Time is much like the PayTeck Smart Box we featured last year. Questions raised then about the device surrounded the possibility of someone being unable to start their vehicle in an emergency situation, though it sounds like such concerns haven't plagued the adoption of the On Time box.
[Source: Russ Wiles, The Arizona Republic]
Some Arizona dealers are apparently using it already. Sekurus claims the devices, which run from $220-$260, are being used by more than 1,500 dealerships and have been installed in a quarter million vehicles.
So far the plan is to use these only on subprime deals, or for buyers with no credit history. Alan Underwood, manager of Jones Auto Outlet in Mesa, has used the On Time devices for more than two years. "It reduces the collections/repossession rate drastically, from maybe 25 percent to 5 or 6 percent," Underwood said. "It teaches people who haven't had that training to make payments on time."
The On Time is much like the PayTeck Smart Box we featured last year. Questions raised then about the device surrounded the possibility of someone being unable to start their vehicle in an emergency situation, though it sounds like such concerns haven't plagued the adoption of the On Time box.
[Source: Russ Wiles, The Arizona Republic]
Sign in to post
Please sign in to leave a comment.
Continue