Technology as Repo Man

Continuing the theme of financial management, I heard something interesting today listening to Ric Edelman’s (see previous post) radio show. Banks that make car loans have a bold new way of dealing with customers who miss payments.  When a loan is made, banks have a device installed on the car that it can activate and render the auto unable to start when a loan customer misses a payment. The message? Stay current on loan payments or sit at home.