If your car note isn’t paid, you might be walking.

Having a car is a necessity in most places. It’s a big financial investment as well. Car note, gas, insurance, and maintenance can really bust your budget if you’re not careful. Brendan Spaar is glad his car is paid off. For people that aren’t so lucky, they need to be sure to keep that car note paid or their wheels may not roll.

We’ve all seen those car ads that say, “No credit, no problem”. If you’re one of the people with bad or high risk credit, before they can drive off the lot, many subprime borrowers must have their car outfitted with a starter interrupt device, which allows lenders to remotely disable the ignition. Using the GPS technology on the devices, the lenders can also track the cars’ location and movements.

The  starter interrupt devices have been installed in about two million vehicles. By simply clicking a mouse or using a smartphone, lenders have the ultimate control. Borrowers must stay current with their payments, or lose access to their vehicle. The Repo Man has been replaced by technology.

Some borrowers say their cars were disabled when they were only a few days behind on their payments, leaving them stranded in dangerous neighborhoods. Others said their cars were shut down while waiting at stoplights. One woman in Nevada said her car was shut down while she was driving on the freeway.

Not only can the device disable a vehicle, the devices have tracking capabilities that allow lenders and others to know the movements of borrowers.  This is a major concern for privacy advocates. Plus the the devices have a warning system that beeps, becoming more persistent as the due date for the loan payment approaches. Now you’ll have to figure out if the beep you hear means low fuel, seat belt not on, or the car note is due.