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Drive Financial - Dallas TX / Keep away from this company!

1 United States Review updated:

I purchased a vehicle from Huston Motors, Lake Wales Fl.back in July'06. They organized the finance with Drive Financial, Dallas TX. We were rushed into signing the contract without reviewing it thoroughly. Only after we realized that a fee of $2500 was added to our loan. When I contacted Drive Financial I was told that those were fees to lend us the money. I told them that I was not aware of these fees when I purchased the vehicle and was not satisfied with the sale tactics of Huston Motors and their company. I was told that at that point they couldn't take back the vehicle and I was stuck with a loan costing more than the cost of the vehicle. I sent my first payment to Drive Financial by mail since they charge $10 to pay by phone or online. The check arrived on the 16th Aug. They repossessed the vehicle on Aug 15th claiming that they had not received the first installment and apart from that I didn't want the vehicle. After 1 week and many calls I was obligated to pay the storage fee to get back my vehicle and they paid the repossession fee. During the week I didn't have my vehicle I was not compensated by Drive Financial, only shouted at on many occasions. KEEP AWAY FROM THIS COMPANY!!!

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Comments

  • Vb
      19th of May, 2007
    0 Votes

    Yes the same thing happen to me but worse, I made 59 payment and on my final payment # 60 they're claiming I owe 3887.20 to receive my title... These people are horrible, something must be done to get rid of Drive Financial and the way they do business.

  • Vb
      19th of May, 2007
    0 Votes

    Please let's get the word out on Drive Financial Service. A very very bad company to do business with.

  • Yo
      13th of Jun, 2007
    0 Votes

    I was financed for more also. I have contacted every government agency in the united states. They have told me that they have no control and cannot do anything. I have contacted an attorney also, there are charges on statements that no can seem to explain, there are payments misplaced, and my car was reposed also. I would like to know what does this company have that allows them to continue with these practices? who are they related to or paying off in our government, which allows them to treat customers this way. I would love to have a class action suite against them, but no one seems to be able to contact one another. Drive needs to be stopped, NOW. Lets all get together on this.

  • Tp
      25th of Jun, 2007
    0 Votes

    I've had my car a year lost my job and I tried refinancing with Drive they told me that they don't do that kind of business to try some where else. Also every time you call to try to talk to them they get an attitude they have bad customer skills.

  • Ka
      29th of Jun, 2007
    0 Votes

    I purchased a car in May of 06 and Drive financial is my lender. Since the purchase of our car we have had many tough situations and have fell behind a payment. A payment which will never get caught up b/c we acrue a $45 late charge every time we don't catch up with that payment each month. I am very surprised they haven't repo'd yet reading y'alls posts, although they threaten to every day. My 3 year old is going for open heart surgery (his 3rd by the way) and when I explained this to them and we needed the money for him right now they blatantly told me that it didn't matter. There words were, that doesn't matter b/c u made this obligation to pay before your sons problems so it shouldn't play a factor in how you pay now. They call and cuss my husband out. And they speak almost no clear English so we almost never truly understand what they are saying. And no this is not being racist, I am spanish myself, but I can speak english just fine. And if you can't thats okay too, but don't get a job that requires you to make phone calls!

  • Ab
      18th of Jul, 2007
    0 Votes

    Drive is a really bad company to do business with as I can attest with my experience dealing with them. I bought my car from Drive Financial in July 05 and everything was going Ok... That is until I wrecked my car in April due to an accident I had in the rain and it became a total loss. The insurance company did their part and cut them a check for the full balance.

    Keep in mind I had GAP Insurance to cover and other discrepancies just in case. I then find out that after it was all said in done that Drive had charged me late fees for not making a payment and stating that still owed them $500.00... Which they charged of interest. Now I was not going to pay any interest on a loan that should have been paid in full. Anyhow to make a long story short I spoke to them and they told me they would settle with me if I paid half of the $500.00... Basically like if I was in collections and they would settle the balance can you believer the nerve of this company. Well I went ahead and agreed with them to do that just to get this issues resolved and not deal with this company any loner.

    Well all I can say is that was April and I get a letter in the mail yesterday stating that I still owe them $250.00 plus a late charge of $47.xx totaling my balance still owed to $297.xx. Were now in July and this car should have been paid in full in April latest May and I am still having to fight with them about resolving a loan that should have already been paid in full. PLEASE!!! USE CAUTION!!! STAY AWAY FROM FINANCING WITH THIS COMPANY!!! They are a bad company to due business with and they have the worst customer service!!! If you are currently financed through Drive Financial I recommend that you refinance with another lender so that you want have to deal with the hard-aches myself and everyone else on here has had to endure.
    Drive Financial is an awful company to business with stay away!!!

  • Ca
      25th of Jul, 2007
    0 Votes

    I purchased an automobile in 2004 and Drive Finance agreed to finance the loan for me to get a 2003 Grand Prix Pontiac. I didn't have much trouble with them initially but a year later when I missed a payment I had the opportunity to talk with their finance officer, who explained that the interest rate for late fees is compound interest. According to this person, the interest rate is so high that it could extend the 60 month contract tremendously. I made every effort to pay this note on time because it was apparent to me that this company was not a first rate establishment.

    Unfortunately, I lost my job unexpectedly this year and was suddenly 3 months behind in my notes. However, I finally located a job and scraped and scrimped in order to pay the three payments. Fortunately for me, I was able to pay $1100 by June 28, 2007 and feeling confident about this I went about my daily routine without any feeling of threat from Drive Financial. Would you believe that in July, 2007, nearly a month after catching up my payments, my car was taken from my home. I had not received a letter or a phone call from this company saying that this was going to happen, so naturally I was taken my surprise.

    Something told me to call Drive Financial to ask if they had taken my car and after being hung up on by a female, put on hold for fifteen minutes by a second employee, I was finally able to speak to a Mr. Eric Frost on my third attempt to speak to someone.

    I asked him why my car was taken when the notes had been paid and he told me he didn't have time to monitor my account as he had 400 accounts not one. He also told me I would have to pay the repossession fee of $400.00 but if I did I he would get my car returned to me.

    I didn't argue with him too much because of course I wanted my car back. However, I made up in my mind that I was going to write to the Better Business Bureau here in St. Louis, MO and the President of Drive Financial Services in Texas and let him know about the rude, disrespectful and negligent employees that work for this company.

    When I looked on Google to find a name for the President of Drive Financial I found this site, and was truly surprised to find that so many people have already reported this company, and obviously nothing is being done about it. I decided to add my story to the others and hopefully someone will stop this company from bending the rules of business completely backwards. My suggestion to any who don't know is to stay away from this company because they truly are mean and ruthless.

    I got my car back the next day after being told that the $400 I paid to this company would be used for my car note (357.00) this month and any subsequent charges would be absorbed by Drive Financial. However, I usually take my mother to work every day and because my car was taken I couldn't take her. That means my mother lost $136.00 in lost wages and my car got scratched up pretty good by the persons who repossessed it because they forced the door open. Can you imagine having your car repossessed when no payment was due? Most upsetting though was Mr. Eric Frost called me the next day, which means his fingers are not broken after all, and after asking me if I had received my car, he hung up and never once apologized for half doing his job.

  • Lw
      14th of Aug, 2007
    0 Votes

    They also monitor your credit. Meaning, they check your credit report every 3 months or so or at least they did on mine. Shady company, run as fast as you can if you hear their name mentioned.

  • El
      15th of Aug, 2007
    0 Votes

    I want to refinance my car and I cant. When they call for any matter they don't speak properly English, they are rude and aggressive. I always want to talk to a supervisor and there's none. This company has to disappear.

    They have to be in jail!!!

  • Tr
      16th of Aug, 2007
    -1 Votes

    These people are a shining example of modern day communism/ i think that w. bush runs this company or something.

  • Fl
      19th of Aug, 2007
    0 Votes

    I agree get the word out on Drive Financial Service. A very very bad company to do business with. Every time I call to try to talk to them they get an attitude they have bad customer skills.

  • Wi
      25th of Aug, 2007
    0 Votes

    Drive Financial has to be the worst company I have ever delt with. I lost my grandmother and my job around the same time last year. I took a trip to Iowa to bury my grandmother and stayed with friends for three months while I was there. When I had came home I had contacted Drive to explain the situation. I spoke with someone that was very rude and obnoxious. I will never do business with them again.

  • Er
      4th of Sep, 2007
    0 Votes

    If you don't pay on time, why complain? I have had zero problems with Drive. I pay on time.

  • Ke
      10th of Sep, 2007
    0 Votes

    LET ME START OFF BY SAYING THAT DRIVE FINANCIAL IS THE BOTTOM FEEDER OF ALL BANKS, THAT DEALS WITH BOTTOM OF THE BARRELL CREDIT. IF YOU ARE FINANCING A CAR THROUGH DRIVE THEN THERE ARE 2 WAYS OF LOOKING AT THIS 1) DRIVE IS CHARGING ME 25% INTEREST AND GETTING RICH OFF ME OR 2) DRIVE IS THE ONLY COMPANY THAT WOULD TAKE A 2ND I MEAN..3RD...AHH...7TH CHANCE WITH YOU. THEY LIKE IT WHEN YOU PAY YOUR PAYMENTS BUT DONT MIND COLLECTING WHEN YOU DONT, I HAVE HEARD SOME HORROR STORIES ABOUT THE COLLECTING VERBAGE AND TACTICS, BUT LETS BE HONEST,WE USED TO HARRASING BILL COLLECTORS CALLING BECAUSE THATS WHY WE FINANCED WITH DRIVE IN THE FIRST PLACE,SO SAVE THE CRYING FOR YOUR ....AH...WELL IF YOU HAD SOMEONE TO CRY TO. THEN MAYBE THEY SHOULDVE CO-SIGNED

  • Er
      12th of Sep, 2007
    0 Votes

    Drive Financial has totally got my be suprise. I purchased a car just under 4 months ago, my payment for the car is 670.00 a month. I have just found out that out of the two car payments I have made they have taken only 163.00 towards the princabel!!!! First of all my car's purchase price was only 23,000 and at the end of the contract I would have paid close to 50,000. I agreed to the contract because I was a first time buyer, and figure I would pay off the car early, and build up my credit. Now reading the complaints, I see that they will still hold me reliabel for the interest payments charged to the loan! How is that possiable???? I've never herd of something that stupid! Is this legal can they really hold me to interest on money I have paid off?

  • Br
      24th of Sep, 2007
    0 Votes

    I have never had a problem, but I never have been late. I know that I would probley have the same problems as everyone else if I were to be late. And to let you all know Banks are no different than Drive, all they want is their money, and will charge you for every little fee they can find.Best way to avoid this, is to never be late, or be rich and pay cash!!

  • Ce
      28th of Sep, 2007
    0 Votes

    I've had my car financed through Drive Financial 3 years ago. I was also a first time buyer and knew that Drive Financial only financed me b/c no one else would. My credit was pretty banged up but since then, only b/c I make all my car payments on time, my credit score has gone up tremendously. I actually want to thank Drive Financial for taking a chance with me when other banks wouldn't. My car is almost paid off but anything can happen between now and then. I just hope I'm able to continue my car payments so these issues wouldn't occur.

  • Sl
      29th of Sep, 2007
    0 Votes

    What some people don't realize is that Drive works on a simple interest loan. Make your payments on time,you'll pay your car off sooner. The more you pay late, the more it goes towards interest rather than your principle balance therefore you would have to pay a large last payment on your vehicle. As far as the employees, they're just doing their job. Yeah, there are a few (maybe a whole lot) of bad apples, but just ignore those ones. Payments over the phone and online is 10.95 charged by Western Union. Drive does not profit off of that fee whatsoever. I hate to hear stories of customers who dont thoroughly read the contract and sign it and is BY LAW obligated to make payments and think that Drive can do something about it. It breaks my heart honestly!! All I can tell you is to hang in there. The calls will be there if your payments are behind. Drive is not breaking the law, they're not paying the government, and they are not there to harass you. Hang tight...you might hate me, but I work there. I'm one of the nice ones ;) I work with customers to try to get accounts current. If something is not arranged, it will call ou back. Guess what? IT'S PERFECTLY LEGAL TO DO THAT! It's strange, yes. It's the magic of the almighty automatic dialer. Drive is a great company and works with customers above and beyond. Most auto financing companies will reposess on 60 days past due....not Drive. It is our objective to keep you in your car. Hope that helped...and again...I'm one of the nice ones!!!

  • Ch
      10th of Oct, 2007
    0 Votes

    I don't care if you're working for Drive Financial or not. If you are one of the nice employees, then what makes everyone else mean. You need to pass on to your fellow co-workers that in order to get full compliance from their customers, they need to be more patient, understanding and a hell of lot nicer. I am getting tired of MANAGERS hanging up on me when i am talking to them. Personally that is rude and very unprofessional. Another thing I wanted to mention, under the FDCPA, Creditors may contact other people, but only to find out where you live, what your phone number is, and where you work. It is against the law to contact someone's work and tell their employer that they are behind in payments and they owe a certain amount and that they are going to repossess the vehicle that day. That is a violation of the law and a creditor can be sued.

  • An
      13th of Oct, 2007
    0 Votes

    I requested an extension for my vehicle because of mechanical problems I am experiencing on my car that need immediate repairs. I was told to call back in a couple days after my initial inquiry call and when I did so I was hung up on three times and placed on hold for an extensive period of time. My account is current and I explained to each representative I spoke with that I am requesting an extension so that my account remains in good standing. Drive Financial has very poor customer service and I am trying to contact the Dallas news station to make a report against them because this is ridiculous.

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