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

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

#281

Great, now we're going to get country music about how some guy's truck left him.

ChatGPT to the rescue: Verse 1: I had a trusty truck, my pride and joy Took me everywhere, never did destroy But times were tough, I fell behind Missed some payments, the bank declined Chorus: Now my truck's gone, it drove away Left me feeling low, I gotta say I'm stuck here on this dusty land Holding onto memories of what I had Verse 2: That old truck had a mind of its own But it always knew the way back home Now it…

ChatGPT sucks

It didn't even mention a can of beer or shotgun

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

#282

Earlier quoted context omitted.

ChatGPT to the rescue: Verse 1: I had a trusty truck, my pride and joy Took me everywhere, never did destroy But times were tough, I fell behind Missed some payments, the bank declined Chorus: Now my truck's gone, it drove away Left me feeling low, I gotta say I'm stuck here on this dusty land Holding onto memories of what I had Verse 2: That old truck had a mind of its own But it always knew the way back home Now it…

Needs more pandering Verse 1: Had a pickup truck, my favorite toy, Whiskey in console, feeling coy, Drove on dirt roads, feeling free, With a girl on the tailgate, in tight blue jeans for all to see. Chorus: My truck left me, feeling stuck, Drinking whiskey in my blue jeans, feeling yuck, Miss the girl on the tailgate, her pretty look, Truck is gone, now I cry like a rook. Verse 2: Fell behind on payments, lost my ri…

Not a fan of the implicit approval of drinking and driving.

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

#283
post #217

Earlier quoted context omitted.

People who give out car loans want you to pay back the loan. They don't want to repossess the vehicle. There is a real cost associated with it and you can't just take the car and make a profit. You'd be able to recoup what was owed and some costs may not be coupable. Again, they're not in the business to lend out money to people they know that can't afford it. There may be fraud at the individual level but the system…

Not the scummy low end of the auto loan business. They want you to pay for a couple months and then reposes the car. They are selling older cars, so just a couple months of payment is more $ than the depreciation of the car, and when it comes back they can sell it again. While they maybe have to pay you back for the value of your owned part of the car, they can charge repossession and detail for sale fees first. They…

You understand that if i lend you $100 to buy a car, you pay off 50%, i can sell the car for $70, i would have to give you $20 (you only owe me $50). There are strict rules what you can do state by state, but generally you can't repossess something worth more than the outstanding balance and keep the rest as a profit

For example here's NY state

If you've already paid more than 60 percent of the amount you owe when the car is repossessed, the creditor must auction it within 90 days. During this time, you can still get your car back, says the New York City Bar Legal Referral Service. You have up until the car is actually sold or leased to settle with the lender. You might have to pay the past due amounts, but often you'll be asked to pay the entire loan balance.

After the auction, the creditor can apply the proceeds toward fees and expenses relating to the repossession and the unpaid balance on the loan. The lender must give you a completed an Affirmation of Repossession and Bill of Sale. After all expenses are paid, you're entitled to the balance of the proceeds.

https://www.sapling.com/6669128/new-state-car-repossession-l...

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

#284
post #98

I feel like in order to patent a thing, you should need have to have a credible implementation of the thing being patented. An implementation of this clearly requires at least level 4 autonomy[0], which AFAIK, nobody has demonstrated. This is only slightly closer to a real-world implementation than a patent for asteroid mining, never mind commercial viability. Mind you, I don't consider that a bad thing; this is pret…

> I feel like in order to patent a thing, you should need have to have a credible implementation of the thing being patented. Reduction to practice is absolutely a requirement of patent law in the US.

Yes, but it doesn't mean you have to actually have built anything or even be able to build anything. The filing of the patent application is considered a constructive reduction to practice:

> Reduction to practice may be an actual reduction or a constructive reduction to practice which occurs when a patent application on the claimed invention is filed. The filing of a patent application serves as conception and constructive reduction to practice of the subject matter described in the application. Thus the inventor need not provide evidence of either conception or actual reduction to practice when relying on the content of the patent application.

https://mpep.uspto.gov/RDMS/MPEP/e8r9#/e8r9/d0e207753.html

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

#285
This is like talking about "de"Platforming... why doesn't anyone talk about how these people GOT their platform and why people kept giving them a platform? Capitalism.

"re"Possess? How about talking about Possessing in the first place?

Why do we have so much "garbage" parked on our streets, namely cars that are owned but not used?

Just like the American Dream of owning a home (and working 30 years to pay the money you rented to do that), or De Beers diamonds, or College, or whatever, there is a concerted effort to make you crave that thing and make that big-ticket purchase. Mainly to give into all the social pressure mechanisms.

The car manufacturer industry relies on this kind of stuff -- to sell more cars. And sometimes they dial it to an 11:

https://www.youtube.com/watch?v=xNzXze5Yza8

And the fossil fuel industry had relied for decades on colluding with them to make sure cars are locked into one type of fuel (fossil fuels). All your other appliances have long ago been able to take electricity -- so they can be powered by hydro, geothermal, solar, wind, nuclear fission, and even fusion as soon as it's enabled. But not cars, no.

And government of course worked hand-in-hand with industry to subsidize fossil fuels and delay electric cars and battery tech: https://vimeo.com/547118547

The only people that this article would alarm are those who believe they want to own a self-driving car. Most people would just time-share them, and self-driving cars would be operated by Uber (another hyper-capitalist company that currently takes 50% of all drivers' wages, but soon the robots will replace them so it won't be an issue).

And we would finally have less parked cars on the streets, open more lanes, and the cities can become more beautiful.

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

#286

Earlier quoted context omitted.

ChatGPT to the rescue: Verse 1: I had a trusty truck, my pride and joy Took me everywhere, never did destroy But times were tough, I fell behind Missed some payments, the bank declined Chorus: Now my truck's gone, it drove away Left me feeling low, I gotta say I'm stuck here on this dusty land Holding onto memories of what I had Verse 2: That old truck had a mind of its own But it always knew the way back home Now it…

Needs more pandering Verse 1: Had a pickup truck, my favorite toy, Whiskey in console, feeling coy, Drove on dirt roads, feeling free, With a girl on the tailgate, in tight blue jeans for all to see. Chorus: My truck left me, feeling stuck, Drinking whiskey in my blue jeans, feeling yuck, Miss the girl on the tailgate, her pretty look, Truck is gone, now I cry like a rook. Verse 2: Fell behind on payments, lost my ri…

Was this song written by ChatGPT or a pair of blue jeans?

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

#288

Earlier quoted context omitted.

It might be my conspiracy brain acting up but "multi-ton machine without manual override" sends all the red flashing lights and klaxons off in my head. Political assassination via cyber attack/backdoor? ezpz, find a tree, accelerate into it, claim it was the car acting up. Bug in the software? Sorry you're dying today because they wanted to repossess cars easier, your life is less important than protecting capital. W…

Manual transmissions are almost entirely extinct in new vehicles (in the US at least) and even some manuals have an interlock that can prevent you from taking it out of gear if the power-train control module decides it needs to stay in gear.

That's why I jumped to buy a new one as soon as I had the money. No interlock on the gearbox, no electric seats to break, manual parking brake, but with android auto on an OEM infotainment.

Not saying they're super common, but as someone who writes software, I don't like the increasing dependency on software implementations of certain components that are fairly simple in their mechanical form.

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

#289

Earlier quoted context omitted.

We can't keep reddit influence out entirely. But with heavy moderation, we can keep out the worst of it, and that will have to be good enough. If you liked my comment, please upvote and subscribe, and consider donating to my Patreon to have access to my future comments one day earlier.

I think you’ve confused Reddit and youtube

I thought Reddit is the “Internet”? And YouTube is the television…

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

#290
post #217

Earlier quoted context omitted.

People who give out car loans want you to pay back the loan. They don't want to repossess the vehicle. There is a real cost associated with it and you can't just take the car and make a profit. You'd be able to recoup what was owed and some costs may not be coupable. Again, they're not in the business to lend out money to people they know that can't afford it. There may be fraud at the individual level but the system…

Not sure why you picked July 2021 on a monthly index... easily the most misleading month in the last decade: https://www.fitchratings.com/structured-finance/abs/auto-ind... As soon as the government assistance I'm advocating dried back up we skyrocketed back to historical highs of subprime delinquency. And notice how when graphed together, right on the timeframe I describe of 5-10, you see a massive divergence betwee…

So you're saying car repossessions can yield a profit? I've never seen recovery even approaching 100% and every state I've seen restricts what you can do with repossessed cars (eg new York makes it go to auction if 60% has been paid off and give proceeds back to borrower). I picked the first site i found that has something about subprime auto severities. This is pretty common sense to anyone in the industry.

No offense but i don't think you know what you're talking about. Where are you getting this information? Talk to someone in the industry

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