If the American economy tanks, look for car loans to follow the same pattern as house loans, right into the dumpster. However, Sekurus Inc. may have a tool to help subprime car lenders such as AmeriCredit Corp. (NYSE:ACF) fight defaults, help the repo man reclaim the assets, and protect against car theft.

Sekurus' ON TIME system patches a legal wireless-controlled device into the car's electrical system. The consumer is given a wireless control that he must push before he can start the car, which sends a signal to Sekurus. The company verifies that financing is up to date before authorizing the car to start. The customer begins receiving a countdown three days before the vehicle is disabled.

The system also serves as a theft deterrent, since car thieves won't be able to start the car without the wireless remote.

The product is especially useful for sub-prime car loans, a $75 billion market. The company claims that, because lenders can depend on this system to increase pay rates and reclaim vehicles, it will result in more borderline drivers receiving financing that otherwise would not. ON TIME also can be used by new dealers who have problems with cars being stolen off their lots.