car finance pass time device fitted

jazzajack

I have just bought a car on finance and was wondering if anyone else has one with one of these devices fitted . If I make the payments (which I will ) they send me a code which I put into a keypad which allows the car to run until the next payment is due , when that payment is made they send me another code and so on and so forth until I have paid for the car . If i fail to make a payment they immobilise the car until payment is received.
I am grateful to them for giving me a chance to own a nearly new car after my ex partner left me with mountains of debt but was wondering if anyone else has experience of this and if there is anything I should look out for.

Thanks in advance

worried_jim

I have never heard anything as mental as this! What if your car is parked somewhere and needs to be moved? What if you have just driven to John 'o Groats and their payment computer says you haven't paid when you have.

Just buy a car you can afford.

jazzajack

I wondered about that but it has an override on it that can only be used once and lasts 24 hours.
As for being able to afford it , I start a new job shortly that requires me to have a reliable car that thanks to my ex , would have been impossible without this option

ianders

worried_jim wrote: »

I have never heard anything as mental as this!

Same here, went digging and found this:
http://www.motoring.co.uk/car-news/immobiliser-device-linked-to-car-finance-payments_50477

Seems legit.

jazzajack

the system apparantly has a 5 day window from payment due date to allow for weekends / holidays etc . I thought very carefully before agreeing to this i am just wondering if anyone has any horror stories i should be aware of

molerat

There was a post on here about having problems, car not starting etc but it turned out he had persistent late / failed payments. It seems that if you stick to your side of the deal, i.e. pay on time, they will stick to theirs.

jazzajack

I fully intend to make all payments on time , so thats good news I hope !

Apples2

I hope you have worked out and fully understand how much this is costing you.

These devices are normally coupled with interest rates of 50% or more which is absolute lunacy.

I too have read a thread recently where a poster claimed the car was turned off whilst being driven on a motorway leaving them stranded.

This isn't how it works but you can gauge from that what type of customer signs up for this type of woeful deal (those who don't repay!)

If you keep on top of payments you will be fine but one day you will realise what you have signed up for and how much this car is costing you.

WillyWonga

Out of interest what car have you gone for/age of car etc?

Check the paperwork carefully as if companies are starting to do this hopefully they are not charging megabucks on interest. Even if they "immobilse" the car you still have rights. Eg if payment is 2 days late they cant come after the 3rd day and take the car back.

My fear is this sort of practice in a sense is suited to a hire car and not a hire purchase.

facade

Apples2 wrote: »

I too have read a thread recently where a poster claimed the car was turned off whilst being driven on a motorway leaving them stranded.

This isn't how it works

These sort of devices for obvious safety reasons just prevent the car being started: they won't cut the engine out when you are moving.

They do have a high interest rate, but if it is the only way to get a car, you want one badly enough and you are aware of how much it is going to cost you then there is nothing wrong in principle.

jazzajack

Interest rate is 25% car is a 58 focus from a very reputable dealer