Can’t pay your car loan? Ford may have a way to get it back without the repo man

(As originally published, Fri, March 3rd 2023, 5:33 PM EST)

The cost of cars has been going up, like just about everything else, and one company may have a way to get them back from people who don’t pay.

It’s all contained in a document titled “Systems and Methods to Repossess a Vehicle.”

Peter Holderith reports in that Ford Motor Company submitted the patent document a year and a half ago, and it was formally published last Thursday, Feb. 23.

The system described would be able to shut down “one or more components of the vehicle.”

It would even move vehicles with autonomous or semi-autonomous driving capability “from a first spot to a second spot that is more convenient for a tow truck.”

And there’s something special for people who think their vehicles aren’t worth the cost of repossessing.

If repossessing doesn’t make financial sense, then the jalopy could drive itself to the junkyard.

All the system would need to be installed is a Ford vehicle with a data connection, possibly even one already driven off the lot.

There’s a lot of detail in the plan. Click here to check it out.

Holderith did point out that filing for a patent doesn’t necessarily mean Ford will do what the document describes. The company may just be trying to protect its intellectual property.

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