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Putting Up Their Happiness as Collateral for Their Car Loans

By Ryan Wu
Published in Loans
May 12, 2023
1 min read
Putting Up Their Happiness as Collateral for Their Car Loans

So, I just read the craziest article called “Putting Up Their Happiness as Collateral for Their Car Loans.” Basically, some people are so desperate for a car that they’re willing to gamble with their own happiness.

Basically, these people are taking out loans that allow the lender to repossess the car if the borrower fails to make timely payments. But the catch is that some loan companies require the borrower to install a tracking device that monitors things like their driving habits, location, and even whether they’re speeding or not. And if the borrower behaves in a way that the lender deems risky, they can shut off the car’s engine remotely, essentially stranding them wherever they are.

Now, on the one hand, I get why these loans might be appealing to some people. Cars are expensive, and if you have bad credit, it can be nearly impossible to get a traditional loan. But on the other hand, the idea of having someone else monitor my every move in exchange for a car just seems too creepy to me. Plus, what happens if I hit a traffic jam and the lender decides to shut off my car even though I’m making my payments on time? It just seems like too much of a risk to take.

At the end of the day, I think this article serves as a reminder of how eager people are to own a car, even if it means sacrificing their own privacy and happiness in the process. It’s a sad reflection of how our society is so reliant on cars, and how difficult it can be to navigate the financial hoops necessary to own one.


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Ryan Wu

Ryan Wu

Freelance Journalist

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