Ford develops an interesting patent application that would help the automobile giant to reclaim its cars from defaulting customers
Business

Ford develops an interesting patent application that would help the automobile giant to reclaim its cars from defaulting customers

Ford has filed a patent for technology that would allow the automaker to remotely disable certain features or lock down vehicles in the event of a missed payment, according to newly uncovered documents. The patent, titled “Systems and Methods to Repossess a Vehicle,” was filed in August 2021 and published in late February.
The technology would be used if drivers ignore notices of delinquency related to their car payments. The features that could be disabled include cruise control, air conditioning systems, and remote door locking systems. The technology could also direct the vehicle to make an unpleasant sound every time the owner is present in the car.

According to the patent filing, the technology could eventually block car owners who fall behind on payments from using their vehicles entirely. In some cases, Ford vehicles with semi-autonomous or full self-driving capability could even be directed to drive themselves to a tow truck driver or a repossession lot.

The filing notes that vehicles with less resale value would be sent straight to the junkyard.

Ford spokesman Wes Sherwood has stated that the company does not currently have plans to deploy this technology. However, the patent filing has raised concerns among consumer advocates, who warn of the potential for abuse.

John Van Alst, a senior attorney with the National Consumer Law Center, told Bloomberg that the technology could open up a “can of worms” for manufacturers and is unnecessary. The patent filing comes at a time when car loan delinquencies in the US have surged, hitting their highest level since 2006 in January 2022, according to Cox Automotive data.


»Ford develops an interesting patent application that would help the automobile giant to reclaim its cars from defaulting customers«

↯↯↯Read More On The Topic On TDPel Media ↯↯↯


Related posts:

  1. Innovecture Celebrates its 3rd Patent in Payments SpaceInnovecture LLC, a Global Technology and Management consultancy company announced that the United States Patent and Trademark Office (USPTO) has granted a patent, for an...
  2. Virgin Money Reports Shrinking Profits Amid Concerns of Defaulting Borrowers…By Joseph Benjamin for TDPel Media. Virgin Money, the challenger bank founded by entrepreneur Sir Richard Branson, has reported a 23% drop in underlying pre-tax...
  3. Ford Ranger Raptor is Australia’s top sub-$100,000 performance automobileA dual cab ute that is as adept in mud as it is on the road may have just become Australia’s quickest affordable four-door sports...
  4. PCN seals 308 pharmacies, patent medicine shops in BenueThe Pharmacists Council of Nigeria, PCN, has sealed the premises of 308 Pharmacies and Patent Medicines Vendors Shops, PMVS, in Benue state for violating laid...
  5. UAEU student obtains patent for ‎aircraft body drillUAEU student obtains patent for ‎aircraft body drill AL AIN, 15th February, 2022 – Maryam Al Kaabi from the College of ‎Engineering at the United...
  6. Best Agrolife Ltd. Acquires Another Patent for Herbicidal Composition, Resourceful in Preventing Narrow-leaved, Broad-leaved Weed and Sedges AttackBest Agrolife Limited (BAL), a leading agrochemical company in India, on Friday announced that it has received one more patent for herbicidal composition of haloxyfop,...
  7. More than 45,000 patent, trade mark and design examinations clearedFor the first time in recent years, the Intellectual Property Office (IPO) cleared its examination backlogs in May. Cases that take longer than the IPO’s...
  8. The U.S. Patent and Trademark Office approves Ohio State University’s request to trademark the word THEOhio State University has won its legal battle to trademark the word ‘THE.’ The university’s request was granted by the U.S. Patent and Trademark Office...
  9. Apple Halts Series 9 and Ultra 2 Smartwatch Sales Amid Patent Battle with MasimoApple Ceases Sales of Series 9 and Ultra 2 Smartwatches Apple has made the decision to halt the online sales of its Series 9 and...
  10. Rapid Hubs: Ford offers dealer and customer helpPRETORIA, South Africa, January 19 of the year 2023: Ford South Africa is increasing its dedication to customer service by deploying new Rapid Hub teams...