- GPS tracking devices: Many newer cars come equipped with GPS tracking devices that allow the lender to track the car's location in real time.
- License plate readers: Lenders can also use license plate readers to track down cars. These readers are mounted on police cars and other law enforcement vehicles, and they can scan thousands of license plates per minute.
- Social media: Lenders may also use social media to track down borrowers who have stopped making payments. They may search for posts that include photos of the car or that mention the borrower's location.
If the lender is unable to find the car, they may take legal action to recover the debt. This could include filing a lawsuit or obtaining a judgment against the borrower. The lender may also be able to garnish the borrower's wages or seize their property.
In order to avoid the hassle and expense of having your car repossessed, it is important to make your payments on time. If you are having trouble making your payments, you should contact your lender and discuss your options. There may be programs available that can help you get back on track.
