KDKA.com Consumer Web Extras
May 26, 2008 6:35 pm US/Eastern
New Device Keep Drivers On Track With Payments
Reporting
Jim Lokay
PITTSBURGH (KDKA) ―
Even with a slumping economy, car dealers are pushing hard to make a deal -- even if your credit is far from perfect.
But with repossessions on the rise, some dealers will give you the keys with a catch.
The Auto Trakk system is the size of a deck of cards, and it hides beneath your dashboard.
"You can make your payments on-line or on the phone if you want," said Finance Manager Sean Rattigan. "You get your code, put it in, and you go until the next time your payment is due."
Each week, you use a different six-digit code to keep the car moving.
It adds about $260 to the price tag of the car, and it's available only on selected cars.
It also helped if you're facing financial problems.
"It gets reported to the credit bureaus so you can re-establish your credit as well," said Rattigan.
Auto Trakk keeps tabs on your payments.
So skipping a week will violate the agreement and throw up the red flag.
There's no GPS component, although that's likely to be incorporated into future versions.
But by and large, it's been a success at courtesy and other dealers, who say giving drivers that second chance might mean they'll gain a repeat customer.
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