- The Drive, Tuesday, February 28, 2023 5:19 PM
Self-driving technology could aid automaker when it comes to repossession in case of loan defaults. "Although auto loan delinquency rates have been down since the height of the pandemic, Ford applied
for a patent to make the repossession process go smoother," per The Drive. The patent, "Systems and Methods to Repossess a Vehicle," describes how t
he system could "move the
vehicle from a first spot to a second spot that is more convenient for a tow truck to tow the vehicle... move the vehicle from the premises of the owner to a location such as, for
example, the premises of the repossession agency," or, if the lending institution considers the "financial viability of executing a repossession procedure" to be unjustifiable, the vehicle could drive
itself to the junkyard.advertisement
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