Ford is testing technology that would allow it to repossess self-driving vehicles remotely from delinquent buyers who fail to make payments.
Key Details
- A new patent was published for review on February 23, 2023, that shows that Ford applied for a technology on August 20, 2021, called Systems And Methods To Repossess a Vehicle, according to The Detroit Free Press.
- The technology would allow dealers or financial agencies to repossess cars for lapsed payments.
- The strategy would involve the car driving itself to a tow truck or features within the car shutting down, such as windows and GPS controls. The car could even begin broadcasting unpleasant noises or lock itself on weekends.
- The car owner could also receive messages and warnings from lending institutions displayed through their cell phones or vehicle displays.
Why It’s Important
Internet connectivity and self-driving technology are creating new and innovative ways for automakers to develop new car features. As we previously reported, Mercedes-Benz is experimenting with technology that allows drivers to take their hands off the wheels and not pay attention in traffic jams below 40 miles per hour.
These features also stand to benefit lenders or auto dealers. As Fox Business reports, 9.3% of auto loans given to people with low credit scores are 30 days or more behind on car payments. Remote repossession could prove a valuable tool for recouping vehicles.
The technology will also open other possible innovative possibilities, such as giving police the ability to stop speeding cars or locate stolen vehicles.
Notable Quote
“The first thing to know is that if your vehicle is connected to the internet in any way, this system could theoretically work on it. The application likewise describes a ‘repossession computer’ that could be installed on future cars to make this system function smoothly. Basically, if your car has an infotainment system already set up to receive something like over-the-air updates, this could probably work without physical modifications,” says TheDrive.com.