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Drive Financial / Class Action Lawsuit

1 Dallas, TX, United States Review updated:
Contact information:

I must admit, I was only slightly miffed at this company until I read all of your posts. Now I am royally PO'd. It seems that the practices of these people are highly unethical and boarderline illegal and need to be brought to the attention of the authorities and numorous other resources like the Better Business Bureau and the Attorney General.

My Story - Last summer I was placed in a loan with Drive Financial by an auto dealership without my consent. I signed a set of loan papers with the dealership the day I purchased the car and drove off with my new vehicle. I get a call two weeks later from the dealership stating they forgot to have me sign "a" piece of paper. So I go to the dealership in good faith and find out they have completely reworked all of the loan documents with a new lender (Drive) and I now have a higher interest rate and higher car payment each month. (Can you say kick back to the dealer?) Anyhow, I had already surrendered my other vehicle to the dealership at trade in, so I had no other choice but to sign the new documents, or literally be forced to walk home. The dealership stated that the prior lender had backed out of the loan, two weeks AFTER the original signing when they realized I'd gone through Chapter 13. The dealership left this little tidbit of information out when they called me back in to the office. Everyone I have spoken with who works in the auto industry says this is a lie. Once financing is in place, ITS IN PLACE!! A lender can't and won't back out of the loan agreement two weeks after the paperwork has been signed.

I am now six months into the loan and the calls are non stop from Drive. The latest my payments have ever been is by a few days and yet the calls are a daily thing! They began immediately after we signed the loan with them and have been a dialy thing (multiple times a day) ever since. Of course I ignore them because I don't have two hours a day to talk to an automated system. So now they have begun calling my mom and all of my other relatives numbers. As soon as I found this out, I went into terminator mode. This is now WAR!!

I have been a paralegal for over 15 years and I can smell a scammer from miles away and this company wreaks. I have taken this matter to one of the highest powered trial attorneys in Dallas and he agrees that his looks like a scam between the dealership and Drive. He told me it is not uncommon for the lender to give the dealership kickbacks for placing people into subprime loans (people that may not necessarily have to be subprime).

I am going to meet with the attorney later next week to discuss strategy and determine if he wants to pursue this case. At the very least this is fraud on the part of the car dealership and harrassment on the part of Drive. After I meet with the attorney and see if there is a chance to pursue a class action case against Drive, I will post what I find out and a contact number for you all to call if you want to join in the suit. If there is anything at all I can do about it, I don't plan on EVER letting these people take advantage of me or anyone else out there who is struggling.

Keep in mind, if you DO genuinely owe these people money and you ARE months behind on your payments then they do have the right to contact you and in some cases, repossess your vehicle. I am speaking more about the predatory lending, verbal abuse by the CSR's and harrassing phone calls to the workplace and family and friends AFTER they have been told not to call. Late payments and repossesion are other issues entirely that you will have to take up with legal counsel on your own. My issue is with predatory lending and abuse of the client/banker relationship.

This kind of predatory lending needs to be stopped especially when it is being forced on you without your knowledge or consent! This is EXACTLY what got our country into the mess that it is in now. In the interim I would strongly encourage each and every one of you to keep a log of the calls that come in with date and time. If at all possible, record your conversations with these people and then file a complaint with the Better Business Bureau and the State Attorney Generals Office regarding the harrassing phone calls at work and to your family and friends. It is not legal for them to call these places once you have informed them not to. Write a letter to Drive, outlining the numbers they are NOT allowed to contact, and send it certified, return receipt mail so you have proof that you told them in writing to stop. You will HAVE to have this if you decide to file a lawsuit.

Lets pull together and be heard!!

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Comments

  • Mi
      8th of Feb, 2009
    +1 Votes

    I think you are doing the right thing; I'm now in a similar situation, with a car dealership. I purchase a vehicle and did outside financing with my bank. I brought my own loan approval documentation with my down payment and approval documentation to support income, asset, insurance you name it. I drove off the lot and 12 days later the dealerships calls me back explain that he needs to rework the deal due to the bank which is charging him a fee which has nothing to do with me at all. After I tried to co-borrowers for approval I decided to do some investigation on my own. What I found out is that the dealer has to pay an accumulation fee to my bank which he would lose money out on this deal that was made. I told the dealer a deal is a deal and I'm very happy with my car. The dealership has called my job 10-15 times a day, left messages on my voicemail (37) messages and sent text messages. I said enough is enough; I've contacted an attorney and submitted a complaint with Maryland Attorney General & VA Commonwealth since the vehicle was purchase in Virginia. So far my legal rights is this; the car belongs to me I can't change my mind or return the car after 14 days, but what tops this story off is that the dealer came to my job, after my employer (Boss) told them to not call this workplace unless they need to verify employment only. This is harassment 100%. I keeping my car and making my first payment to my bank rather the approval department has received the paper from the dealer or not. I have copies of everything and took it a further step to have my personal attorney review just to make sure I have a legal right. I need some help on what I should do next. Something is going on and I want the dealer to stop picking on my text's me because they don't want to honor a contact of sale.

  • Su
      12th of Mar, 2009
    +1 Votes

    I submitted an electronic/online credit application with an auto dealership listing my social security disability and child support payments as my only sources of income. At the dealership they asked me about my former employer such as the number, my former supervisor's name and they even asked if I knew someone at the company that would lie for me and state that I stilled worked for the company and I flat out said NO, not knowing that they would later resubmit my online application adding the employment information and a whooping $2200 a month salary on top of my disability and child support payments and this was all done without my persmission so that I could get financed as I found out 8 months later. On the day I visited the auto dealership they submitted my application to several auto financing companies while I was there and the salesman told me that they were having a hard time finding a company to finance me because my credit was so bad...probably due to my divorce. I was told that I could take the vehicle home and that they would call me back to sign the paperwork once they had found a company to finance me...yeah right, they already knew who they were going to send me to for financing...the highest interest rate bearing finance company in the U.S... DRIVE FINANCIAL. About a week after taking the vehicle, I received a call from Drive Financial and they asked me about my down payment amount and then verified my address, phone number etc. but they never verifed my source of income...which was no big deal to me as the verification call was being recorded. I was called back to the dealership to sign the papers backdated to the date I drove the vehicle off the lot and when I saw the high interest rate I was in shock and when I asked why the interest rate was so high the finance manager said that it was due to an acquistion fee...I thought that since I had taken the vehicle I had no choice but to agree to the terms. I am paying a total of $33, 000 for a 2008 Hyundai Accent that cost me $13, 000 with a trade-in and down payment and the vehicle is now worth $8, 000...you do the math. Also, the auto dealership committed fraud and forgery by resubmitting my electronic application with the employment information they received from Drive Financial, since they do this all the time they were smart enough to not call the vendor used to verify my employment and salary history called "the Work Number, because the Work Number would have them listed on my data report as an organization that verifed my employment/salary history thereby aiding in the deception. Drive Financial did the dirty work and not only that but if Drive financial approved financing for me based on the income amount listed on the credit application do they not need proof of said income? When Drive called "the Work Number" (3 times within a 5 day period) they were notified that I no longer worked for the company even so, the vendor was still able to provide them with my start date and end date with the former company(aiding in the fraud) listed on the resubmitted credit application, Driver was not given any salary information which is why the monthly salary listed on the resubmitted application is incorrect. I did not provide the dealership with a copy of a current paystub because naturally, I did not have one, the only proof of income I provided to the auto dealership was a copy of my disability and child support award letters... my actual income. Basically, Drive Financial and this auto dealership and the auto dealerships associated with this one do a lot of business together ... for financial gain on both ends. Drive knew that my montly income was only $2400 but yet they still financed me based on the unverifiable income amount listed on the credit application $4200. If I made $4200 a month I could make the payment of $388 a month for 72 months with no problem but as it is, I only get $2250 a month and occasional child support of $230 a month and if Drive Financial is doing this to others than that is probably why so many individuals are getting their autos reposessed by Drive Financial...we are being financied on inflated income amounts, Drive could not justify financing us if they were based on our actual income and not false or inflated incomes. If anyone out there has been denied financing by Drive Financial or RoadLoans and the principle reason for your denial was "did not meet the minimum income requirement" and your monthly income was anywhere between $2200 and $2500 a month we might have a class action lawsuit against them. Also, If we can prove that Drive Financial engages in predatory lending to women, disabled, minorities, or low income individuals that could also generate a class action lawsuit because the more we know the better. I implore anyone submitting an electronic/online credit application that if the dealership does not send you a copy/receipt of the credit application you submitted online please, make a print screen or copy for your records because had I done so, they would not have able to commit electronic forgery and fraud. Lastly, if anyone in the chicagoland area purchased a vehicle auto Family Hyundai, World Hyundai, Bob Watson, or Watson Motorsport you might want to request a copy of your credit application to make sure they did not inflate your down payment or income amout or even your employment history in order to get you financed. I believe I can prove damage because this fraudulant act has caused me to suffer economic harm which could led me to the loss or a repossesion because I did not financially qualify for the vehicle based on the financial qualifications I provided it was all based on fraudulant unverified income.

    Sunshine33girl

  • Kn
      18th of Mar, 2009
    +1 Votes

    I would agree with you, to sunshine 33girl.

    We had a similar situation with drive. Something wasnt right, later to find out the dealership didnt send our app out to anyone accept drive. my personal opionion is that the dealership is getting a kickback for someone taking the financing. We got a settlement of five thousand for my wrecked blazer. and went to a dodge dealership to get a ram 1500. Put the five thousand dollars check down payment, and still after all was said and done, a 650 a month note. And then they told us we owed over 22000, when they repoed the truck our credit says we only owed 9000. tell me how that is legal. I think they are dirty, and had i known then. Then later to check our credit, i had it deleted off because they were saying we owed over 45000 on a truck that was only worth Kelly blue book and dealer book around 19000. Not to mention the harassing phone calls and visits they sent to the house. I was finally fed up with the harassment and told them to come get the dang truck, it wasnt worth it. And with the income that was listed there was no way with that much of a down payment, that the payments should have been that high. We got screwed also. But what can you do.

  • Pa
      26th of Mar, 2009
    +1 Votes

    how long before this lawsuit comes into play and why has any lawyer taken them to court as of now while everyone is getting screwed over everyday>> i have made on time payments on time for a full year now and I want to trade this car in for another at a regular dealership>>

    so does that mean i am going to have trouble trying to get another vehicle >> the car was financed for almost 23000 dollars and have paid 510 payments on time for a year so they are saying that the car is still owed 16000 in the red and only worth almost 9000 kelly blue book value for 9000 in excellent condition ??

    so if so many people got suckered into this why are these people still in business and why is it taking so long to put them out of business so hard working legitimate people who bought cars and trucks thought this was the way to go about to help their credit down the road>>

    the used car place that sold us the car is out of business i am sure because of these lying practices but where does that help me now if i am paying for a semi new vehicle where what i owe still is not coming down >> someone needs to shut them down now >> if Texas is the biggest state with more than enough smart legal minded lawyers in this state why is this place not shut down and people compensated for the wrong done to them everyday by this place???

    i thought this was a place where i could start my credit over and now instead of doing things the right way one step at a time i am going to be screwed over again and have my credit and my dads ruined because of illegal practices >>i hope all of us who are writing these comments will get an answer soon>> [email protected]

  • Mi
      30th of Apr, 2009
    0 Votes

    my husband who was 100%disabled vet with ptsd purchased a car while on aday pass while in aptsd program at the VA hospital the salesman at the dealership knew his situation and he gets him financing through drive .I found him dead in a hotel room a few days after he was discharged I tried to keep up on the payments even though Ididnt sighn any papers when I couldnt keep up with a400.00 car payment(18.99 intrest) Iexpleined my situation and asked them to get the car the payments to this point the payments were up to date the refused to get the car I called them told them I was bringing the car back to the dealership where robert got the car I faxed a letter in febuary I got from the dealership and I dont know how many death certificates somebody please lie and say the car dealership says they dont have the car when Ihave a letter saying Ileft it there and how can they call me looking for my dead husband.sorry about the spelling they called me a few hours ago 3rd time this week Ihope they get everything the deserve

  • Br
      11th of May, 2009
    0 Votes

    I agee and I to want to be a part of this class action lawsuit with the rest of the people drive financial has ripped off. I have a long list of things that I don't agree with, but my most recent encounter was I started to recieve late fees for payments that were only a day late up to $44.00 give or take a little. and I just think thats wrong and bad business, and hope something can be done about this company.

  • Sh
      21st of May, 2009
    0 Votes

    What is the contact information to join in on this? I have been done the same way by these people.

  • Sh
      1st of Jun, 2009
    0 Votes

    I purchased my car 2 years ago with Drive financial from a local dealership in MD. My story is exactly similar to all of yours. It gets worse. A couple of days after purchasing my car, the dealer told me my other car payoff was more than expected. I asked to return the new car and take repossession of my trade in. The dealer said "no" don’t worry we will take care of the cost. A month later Drive Fin sent me a bill for an amount that was over my contract and the interest rate was slightly higher. When I called Drive about it they read off the contract and faxed me a copy. My name had been forged on the new contract and sent to Drive by the dealership (this was the "I will take care of it method"). I compared both contracts and immediately knew they forged my name to the new one without my consent or knowledge. I tried to dispute the contract with Drive, local law enforcement office and lawyers. Nothing. I hired a hand writing expert who proved fraud but nothing was done. I have paid over 42 payments to Drive equaling about 23, 000 and they are saying I owe 20k more. The car according to Kelly Blue book is only worth 9999. What a mess this is. It really burns me that this company is getting away with illegal practices and the dealerships are being paid by them. (I have proof and phone numbers of other people this has happen to as well).
    What do we do?
    Please contact me if this lawsuite is really going to go forth.
    [email protected]

  • Ja
      1st of Jun, 2009
    0 Votes

    I agree with all of you. Please contact me at [email protected] if this lawsuit goes forward.

  • Jo
      13th of Jun, 2009
    0 Votes

    Please contact me if this lawsuit goes forward. [email protected]

  • Ca
      15th of Jun, 2009
    0 Votes

    Please forward me information about this Class Action Suit against this company, they have been taking Advantage of me with this car loan for two years. They charge huge late payment daily, never correct on the payout amounts. Customer Service is BAD...I'm will to put this company out of business. Please contact me at: [email protected]

    Thanks,

    Carl

  • Ra
      15th of Jun, 2009
    0 Votes

    My boyfriend and I recently (October 2008) purchased a car using drive financial. AT the time we were both working, but due to the economy, his hours were cut short, and his paychecks were bouncing. So it has been up to me to support a household. We fell behind on our payments, but I have been sending as much as I can, and they call me like 10 times daily. They call my work, work cell (which they took off a caller ID from when I called to make a payment...kinda feel like my privacy was invaded there), and my house. Back in April I spoke to a man named Kevin, and he told me if I made a payment of 286.00 that following Thursday, they would defer two payments to the end of my loan...well I made a payment of 200.00 called and told them that was all I could do...the lady I spoke to said "that is okay". Well...they call me the next month saying I owe 570.00(they denied saying that they were going to give me a deferement...but I have a statement saying it was granted), and then I get a letter from them saying "notice of intent to reposess". So I took all the money I could afford 170.00 (180.00 after using the money gram) and sent it to them. They said they would stop the repo...but now I owe them 800.00...can some one please explain there math to me? They call me at work CONSTANTLY, my boss and I have both told them to stop, they call my work cellphone (which like I said, they took with out permisson). One time they called my boss a liar when she said I was out of the office and I was on the road, and started telling her my personal information. (hmmm...i think that is a little illegal). I understand that I am behind, I will admit to that, but if you call me at 9 am and I tell you I will have it thursday, what makes you think if you call me at 11am I am gonna have it??? This company is horrible...makes me wonder why they changed there name. Anyone who has gone through this feel free to email me at [email protected] my name is Rachel, I would love to see legal action against them...thier harrassment has got to stop.

  • Ih
      17th of Jun, 2009
    +1 Votes

    Okay, if you are a paralegal who can "smell a scam a mile away", how did you let yourself be suckered into this deal in the first place? Especially if you noticed the switch from one lender to another. I would have told them that it is not my issue and they need to take it up with the lender who already agreed to the loan. Or I would have called the "high priced lawyer" who is helping you now.
    I am in the process of getting screwed by drive financial right now. But I am on the last payment of my loan so I am going to just pay it off and be done (hopefully) with them forever.

  • Wh
      25th of Jun, 2009
    0 Votes

    I am READY!!! Predatory lending and so many other things! I'm in!

  • Il
      25th of Jun, 2009
    0 Votes

    Well there's not much that can be done. Predatory Lenders take advantage of people who are desperate for cash money to pay rent and bills, but drivetime is different, as they are selling vehicles. A car is considered a luxury item. It is your own mind that thinks you cannot manage without a vehicle. You could have just taken the bus until you saved up enough money.

    It doesn't help when you hear people saying things like "Anyhow, I had already surrendered my other vehicle to the dealership at trade in, so I had no other choice but to sign the new documents, or literally be forced to walk home. "

    I would have just given them the keys and called a cab. You do have a choice. Unfortunately sometimes we have to live with our choices, even if they are horrifically bad ones.

  • Li
      26th of Jun, 2009
    0 Votes

    im having the same harrassment issues with them, and i dont understand the fees they come up with, one month my payoff amount is one thing and a couple months later its higher than before. i fell behind on my payments but i always pay what i can so why does it keep going up. ive been paying on my car for a year and a half now and my payoff amount is only 700 dollars less than what i financed supposedly- how does that work??? im a single mom without much help, i need my vehicle just so i can make a paycheck every week but this is really hurting me. not to mention the harrassment, theyre going to get me fired from my job if they keep calling me there and ive told them that but they dont care. i actually spoke to a guy from drive about making a payment arrangement and he had the nerve to tell me it was only 190 dollars. that is practically my whole paycheck, i felt really embarrassed and he made me feel like such a low life. i couldnt believe he had said that to me. Anyway, this is obviously not something that is happening only to me so if anyone has any helpful information on what is happening please contact me. thank you so much. and God Bless. lillianrae021[email protected]

  • Ca
      29th of Jun, 2009
    0 Votes

    I bought a car from Bill Heard in Las Vegas and I had the same thing happen to me. They told me I didnt bring something in and that after the paperwork was done I ended up with a new lender and a higher interest rate. Madness, I also had to report the dealership to the BBB for selling a broken car they refused to fix after i only had it a day. We all need to do something about this, but what can we do? Anyone have a clue? My payoff has gone down maybe 3000 -4000 dollars and i have had my car 3 years

  • Co
      6th of Jul, 2009
    0 Votes

    Hey Folks,

    We ahve been having all of the same issues you all have been having. The rudeness is absolutely unbearable. My mom get's stressed out everyday over the harrassing phone calls as well. Then we bought a 2006 crysler seabring. Supposed to be 14, 000.00 SO as of today we owe 13, 000 and some odd dollars. but making a payment of 367.35 every month and currently current on our payments, 13000, just does not add up? I really want to get some things started.

    I am researching about how to do a class action lawauit.

    if you are interested,

    Send me your name a phone to [email protected]

    Thanks,
    ENjoli Bland-Reed

  • Mi
      9th of Jul, 2009
    0 Votes

    I definitely want in on this lawsuit if it goes though. Please email me @ [email protected] I have been screwed by this company and cant take it any longer! They are a complete scam and i'm sick of dealing with them!

  • Wh
      27th of Jul, 2009
    0 Votes

    I say we all pool our funds together and get an attorney to represent us. I too have been ripped off by Drive Financial and the Nissan Dealership that sold me a vehicle. They too had me sign papers after the fact, stating there was some kind of mistake and I ended up with Drive Financial. They also told me Drive would re-finance the vehicle at a lower interest rate after I made good timely payments for a year. This isn't the case, Drive said after about 18 months of good payments that they do not re-finance. After losing my job, they won't defer a payment either. The total loan was for $20, 000. To date (3 and 1/2 years later) I have paid a total of $28, 350 and still owe $15, 000. I am 66 days behind on my payment and they are calling and badgering me with one account manager after another asking the same stupid questions with each call. Drive is now Santenda ...another scam outfit.

    I am willing to sell stuff to pay for a class action suit to stop these people. Anyone interested? Let me [email protected]

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