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Future Fords could repossess themselves and drive away if you miss payments

thedrive.com

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Re: Future Fords could repossess themselves and drive away if you miss payments

#231

Post by lasermike026 »

toast0 wrote: post #202
lasermike026 wrote: post #173

Earlier quoted context omitted.

There is no way for a human to operate a car safely over a mid to long period of time. The human brain does not have bandwidth to process all the information taken in while driving a car. Eventual the driver will get into an accident with a high probability of injury and possibly death. Cars are designed to filter information from the environment. A driver can't sense what is around them. Cars are too big and too hea…

> There is no way for a human to operate a car safely over a mid to long period of time. My observed injury rate per vehicle mile, per trip, or per time spent, in a car is much lower than the same rates on a bicycle. Incidentally, my largest injury on a bike was due to street car rails, so thanks public transit for making the roads less safe for bicycling. I can't count the number of times I've tripped while walking,…

In the future you will not have a choice. Cars are already gone you just don't know it yet.

Re: Future Fords could repossess themselves and drive away if you miss payments

#232

Post by ck2 »

Cars is one thing, the real problem is going to be when corporations own all the houses and rentals and they get politicians to automate and streamline the eviction process to just a month and it auto-locks you out so they can get a new waiting-list tenant.

Go on, tell me that's not going to happen by the end of the decade at this rate.

Re: Future Fords could repossess themselves and drive away if you miss payments

#233

Post by kube-system »

elil17 wrote: post #16
gwbas1c wrote: post #7

Uhm, it seems like the auto industry is still letting its imagination run away with self driving cars. I don't see how a patent like this can be granted if we still generally don't have working self-driving cars. Even Tesla is getting forced to admit that "Full Self Driving" isn't really full self driving.

Patents don't need to be safe. You can patent a transportation device that works by firing a human out of a cannon, or a self driving car that simply runs over pedestrians, or even just a method of killing someone.

"Systems and methods for autonomous motor vehicle operation":

https://pbs.twimg.com/media/EzmEZ9oXEAQOiY1?format=jpg&name=...

Re: Future Fords could repossess themselves and drive away if you miss payments

#234

Post by nickff »

gjsman-1000 wrote: post #187
jader201 wrote: post #149

Earlier quoted context omitted.

When I read the parent comment, I thought “Am I on Reddit?”. HN used to bury Reddit-like comments a while back, but it seems the Reddit influence is becoming more and more accepted on HN these days, as I’m starting to see them more at the top vs. the bottom of threads.

HN guidelines quote: "Please don't post comments saying that HN is turning into Reddit. It's a semi-noob illusion, as old as the hills." https://news.ycombinator.com/newsguidelines.html Whether it actually is, or is not, is irrelevant.

But Jader's account is over ten years old, as is mine, so I don't think you can credibly accuse them of being a noob. I happen to believe that HN has gotten substantially worse, and more Reddit-like over the 15 years I've been using it. That said, this change is likely because more people (from a broader spectrum of backgrounds) are using it, and the site's total utility has probably increased.

Re: Future Fords could repossess themselves and drive away if you miss payments

#235

Post by lasermike026 »

nradov wrote: post #201
lasermike026 wrote: post #173

Earlier quoted context omitted.

There is no way for a human to operate a car safely over a mid to long period of time. The human brain does not have bandwidth to process all the information taken in while driving a car. Eventual the driver will get into an accident with a high probability of injury and possibly death. Cars are designed to filter information from the environment. A driver can't sense what is around them. Cars are too big and too hea…

Just because you're not a competent driver doesn't mean the rest of us are getting into accidents. Walking, biking, and public transit are great options for short trips with limited cargo. But none of those options are going to be viable in my lifetime for getting my daughter to a volleyball tournament 40 miles away at 7:00 AM on Saturday. Including hauling backpacks, folding chairs, boxes of snacks for the team, etc…

You over estimate you competence. Married, kids, and suburban.

Re: Future Fords could repossess themselves and drive away if you miss payments

#238

Post by panopticon »

Clubber wrote: post #195
Kon-Peki wrote: post #86

Earlier quoted context omitted.

Their financing makes money on the differential between the rate they pay on demand notes and the rate they lend to car buyers. Anyone (well, US Persons at least) can buy the demand notes [1], which are currently paying 4.75%. So as long as they are lending at an average rate above 4.75% after defaults and other problems I guess they are in a good position. But they can also move money around internally, I suppose, t…

I've heard people opine that motor companies: Ford, GM, Harley Davidson, etc. aren't really motor companies anymore, they are finance companies and just use the vehicle as a means to get the financing paper. They are obviously both, but it would explain why the quality of US vehicles keeps deteriorating since around 2007 or so.

> it would explain why the quality of US vehicles keeps deteriorating since around 2007 or so

I hear this meme a lot but is it actually true? By most benchmarks cars from the last 10 years are more reliable than those from two decades ago.

Re: Future Fords could repossess themselves and drive away if you miss payments

#239

Post by bluGill »

lotsofpulp wrote: post #213
lostapathy wrote: post #206

Earlier quoted context omitted.

> The title stays with the lender until all the payments are made per the loan agreement. This varies a lot by state. A lot (most?) states the title absolutely goes to the purchaser but it has a lien attached that gives the lender rights of repossession.

Interesting, I thought it was only sent to you after the final loan payment.

They send you a lien release, but the title is goes to you from the beginning. The title has a note that there is a lien on it, so if you buy a car with such a title you need to ensure you get the lien release with it. You cannot transfer a title with a lien notice on it without the lien release (I assume there is a way to assume the loan as well, but I've never heard of it happening. Most loans wouldn't allow that, so it is probably a technicality that the government wouldn't know how to handle if you actually did attempt that)

Re: Future Fords could repossess themselves and drive away if you miss payments

#240

Post by brewdad »

Clubber wrote: post #195
Kon-Peki wrote: post #86

Earlier quoted context omitted.

Their financing makes money on the differential between the rate they pay on demand notes and the rate they lend to car buyers. Anyone (well, US Persons at least) can buy the demand notes [1], which are currently paying 4.75%. So as long as they are lending at an average rate above 4.75% after defaults and other problems I guess they are in a good position. But they can also move money around internally, I suppose, t…

I've heard people opine that motor companies: Ford, GM, Harley Davidson, etc. aren't really motor companies anymore, they are finance companies and just use the vehicle as a means to get the financing paper. They are obviously both, but it would explain why the quality of US vehicles keeps deteriorating since around 2007 or so.

This has been true since well before 2007. GMAC (now Ally Bank) was almost single-handedly keeping General Motors afloat in the decade prior to the financial crisis. It certainly wasn't the quality of their vehicles.
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