New Technology For Repossession Man To Track Cars

A new technology for real-time license plate scanning is changing the car repossession business.

MVTRAC is one of several companies which tracks car license plates automatically, in order to populate private databases.

The new technology is used by car repo companies to help banks or other lenders repossess cars; by police to find stolen cars or to locate ticket scofflaws; or really for whatever application MVTRAC and its competitors feel like pursuing, as the new-found industry lacks any kind of government oversight.

This is bad news for those who are in default as auto lenders can now track your car down and repossess it. But for people who had their beloved luxury cars stolen, automated plate recognition will help them recover their assets and reduce future crimes.

[NY Times]

Paul is a geek who shares his thoughts on technology, gadgets, social networks and football in this blog. Stay in touch with his updates by subscribing to the RSS feeds or Email. Thanks for visiting Seventoten and leaving a comment.  To change this standard text, you have to enter some information about your self in the Dashboard -> Users -> Your Profile box.