Due to the prevalence of auto lending behavior, it is a consistent practice of the auto finance industry to install GPS in the car to monitor the behavior of the vehicle borrower within a certain range.

Although some owners understand this approach, they are also worried that their privacy will be monitored in real time or that their privacy information will be easily stolen, and they feel that the gps tracker for car magnetic field installed on the car is a "time bomb". In fact, the GPS installed by these financial institutions mostly plays a role of prevention and psychological warning, and the car loan industry uses it only to monitor the key points within the scope of business management, mainly in these aspects:

First, the "usual address" filled in by the lender when applying for a vehicle loan is different from the actual usual parking location

This is easy to understand. In the auto loan industry, the phenomenon of "bad debt" is still a lot, and this part of customers often provide their own false information. Do some "preparatory work" in the early stage to "sit down" these false information, but if you do not follow up in time in the later stage, the number of years of car loan repayment is not like housing loans, and in the end it is likely to be empty. If the abnormality is found in time, the owner can ask for repayment according to the contract to avoid risk.

Second, the gps tracker for car magnetic display that the staff installed in the car was offline for a long period of time

As mentioned earlier, many people have a certain deviation in the cognition of this GPS, and they will secretly dismantle it themselves. Of course, this does not mean that the absence of GPS signal is suspected of default. The car loan company will first analyze the situation, if the device is offline, then all the equipment in the car is offline. If only the GPS signal is abnormal, then it may be disassembled. This is also indicated in the contract as a breach of contract. In addition, the salesman will also contact the customer by phone to confirm the situation and make a comprehensive judgment.

Third, the vehicle appears in the set "danger zone" zone

The "danger zone" here refers to places such as second-hand mortgages and used car deals. This is to prevent car owners from privately reselling the loan vehicles. Therefore, at the beginning of the installation will be set to a certain range of "danger zone", if a long time to stay in this range, the car loan salesman will call the customer's phone to ask for verification.

Fourth, after mortgaging the vehicle to borrow money, the vehicle is in a static state for a long time

Some owners of the economic crisis will mortgage their vehicles to obtain certain loans. This is different from the pledged loan, the pledged loan vehicle can not be used by the owner. Auto loan companies monitor the types of mortgages that allow owners to use their vehicles autonomously but with higher interest rates. This part of the car owners generally need to use more cars, otherwise they will not choose a mortgage with a higher interest rate rather than choose a pledge. If the vehicle is stationary for a long time, it is likely that the owner has made a second mortgage or pledge to other companies, so if the GPS monitors this phenomenon, the car loan company will proceed to the next step.

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