Don't Forget to Pay Your Car Loan

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A new device is being touted to help scofflaws pay their car loans-or else.

The device, called the on-time system, is a little black box that is installed below a steering wheel that can be seen inside the car. Each time a borrower is scheduled to make a car-loan payment, the little black box will beep to remind them.

If the borrower doesn't make the payment within five days of the warning, the system will de-activate the car.

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