By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 25/07/2026This started with the humble lo-jack, a simple tracker marketed as a way to locate lost or stolen cars. Subprime auto-lenders were early and aggressive lo-jack adopters, because you can't repo a car if you don't know where it is. 33/ 1221
By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 25/07/2026Lo-jacks are much cheaper than paying repo men to drive around looking for cars which means that you can sell cars to people who represent worse credit risks, charging a higher risk premium, and still find the car when those high interest rates force your borrower into default. 33/ 1212
By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 25/07/2026The next wave of automotive usury-tech was a kind of systematic exploration of the entire space between a car that is repossessed and a car that isn't. Some subprime cars are fitted with an extra stereo system that can only be controlled by the borrower over a wireless connection. 34/ 1171
