Can't see it working
It will clog up magistrate court admin and will be extremely costly to execute
Especially when it takes about 20 seconds to come up with a much simpler and more effective solution:
Band A: 3 Points and £100 or lose your car (must be worth > £500) or 20 hours community service (offender chooses)
Band B: 6 points and £500 or lose your car (must be worth > £1500) or 40 hours community service
Band C: 9 points and £1000 or lose your car (must be worth > £5000) or 80 hours community service.
If you can't pay the fine within 48 hours your car is taken unless you do the community service.
Cars that are confiscated as a result are then made available to unemployed people who accept a job offer more than 5 miles from where they live.