Make Your Payment On Time, Or Get Out and Push
Naturally, Sekurus and its customers are quick to note the positives of the $250 gadget: It allows buyers with no credit history to own a car, it lowers the interest rates for buyers with troubled credit, and it reduces the rate of repossessions among sub-prime borrowers.READ MORE
High-tech gear disables car if borrower misses payment
Sekurus was founded in 1999 and started selling On Time, as the device is called. It has sold 250,000 at up to $250 each. Most are bought by finance companies or dealers who cater to the most troubled car buyers, those who need basic transportation yet have checkered credit histories.The box's LED light starts blinking when a payment is nearly due. On deadline day, the unit not only blinks, but beeps. Motorists find it so annoying that it drives "them absolutely nuts," Simon says.READ MORE
Engine Shut Off Systems: Do They Really Help Finance Companies Collect Car Payments?
Sekurus, Inc., an asset protection company, created the very first engine shut off device, called On Time. Sekurus also manufactures Global Positioning Systems (GPS), anti-theft systems, and other technologies for the automotive sub-prime market. According to Sekurus, the On Time device is a legal electronic payment protection unit that uses microprocessor-based technology to turn credit challenged prospects into paying customers .READ MORE
Sekurus Releases ON TIME FLEX Software
MURRIETA, Calif. -- Sekurus Inc., the manufacturer of the ON TIME starter-interrupt system, has announced the introduction of ON TIME FLEX software. The new technology is designed to offer dealers the ability to make payment schedule changes without having to remove the ON TIME device from a vehicle. FLEX is also able to wirelessly generate new payment terms and further streamline the overall payment experience for finance institutions, car dealerships and credit-challenged customers, according to SekurusREAD MORE