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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

  • Sm
      11th of Nov, 2008
    0 Votes

    I have also been through a lot with Drive Financial. I purchased my vehicle a year ago and have paid virtually nothing towards principle after 12 payments. Recently when the economy got really bad, I had to have surgery and was off work for 8 weeks. During this time I only got disability pay and it was 1/3 my normal salary. I called Drive Financial without being even 1 day late and asked for a deferrment. They told me they didn't do deferrments. Now that I am behind, I receive a message stating that I qualify for a 2 month deferrment. I called them and said "I thought you didn't do these", and the girl said "yes, we do and I need $310.00 to process it." I wasn't able to provide her information to process the payment at that moment so I said I would call back. An hour later I called back only to get a different representative who told me I needed to pay my full payment of nearly $600.00 and then we could see if if I qualified for deferrment. I said, "wait a minute, I have a voice mail recording that says I qualify already, and I spoke to another representative an hour ago that said I needed to pay $310.00." She said "No, you need to pay your full monthly payment and then we can see if you qualify." I was totally confused and asked why I have been told 1st that they don't do deferrments, 2nd that I qualify, 3rd that all I need to pay is $310.00 to receive it and now I need to make my full payment and apply. She said I couldn't be offered a deferrment when I wasn't behind because they are only offered to delinquent account holders. Maybe it's just me, but if I make the payment today, I will no longer be delinquent. So, won't it be awful convenient for them to deny me deferrment after I make payment. It sounds to me like there is no such thing as deferrment and they do this to get people to contact them and make payment. SCAM!!! BTW I'm not making full payment. If I could make full payment, I wouldn't have asked for help in the first place.

  • Je
      11th of Nov, 2008
    0 Votes

    Drive Financial is a horrible company. Apparently they bought out the company I was financed with. I didnt know a thing about this company until then... I wish I would have never had to know either. They are EXTREMELY rude. I have asked for a simple name change (due to marriage and I now have a new name) for the last 6 months. The first 2 times I called they told me no problem and they would change it. I even offered to fax my information to them and they at that point told me no.. they would handle it. Yeah right! Here we are 6 months later and still no name change and now they are asking for faxes of my information. Im done with it.
    Oh and when you call to talk to a certain person that you have been dealing with, they refuse to let you talk to them.
    If I am a day past due on my payment they harrass me (yes harrass me) at work. They call here asking for me (by my old name) and when my co-workers put them on hold to get me, Drive Financial immediately hangs up. Boy, we are professional arent we?! They do this off and on all day long. Which by the way, I have told them not to call me at work. IT IS ILLEAGAL IN THE STATE OF TEXAS TO CALL SOMEONE AT THEIR PLACE OF BUSINESS WHEN THEY ARE TOLD NOT TO. Oh and guess what? I work for a company that records their phone lines 24/7 and its all recorded!

  • Am
      13th of Nov, 2008
    0 Votes

    I hate this company! We got a 2006 pt cruiser in January of 2007. If our payment is one day late they call. If I tell them when I mailed it they still call. And not just once a day, but five times a day. Then they call the people I used as references. We are now 3 payments behind and waiting for it to be repoed. I looked at our paper work yesterday and I thought we were paying 13, 000 then I see that we are charged another 10, 000 for lender fees. No one told us that when we bought the car. This company needs to be put out of business!!!

  • Pi
      14th of Nov, 2008
    0 Votes

    Good lord,
    All these posts are a handful. Primarily I'd like to say these are hard times. When you are financed sub-prime which is for debtors with poor credit or no credit, you can not avoid the higher interest rates or higher down payments. The best thing to do in order to increase your credit rating is to bring the payment from "Upside Down". Meaning make extra payments until the finance fee are covered. Often the car is worth $5000 and you are paying $10, 000 for it. This is due to interest. As soon as you are near even in LTV(Loan To Value) refinance if you want to keep the car. You will have much better credit and be able to get an A Paper loan with a much lower percentage rate. Never trade your car in if you owe more than it's worth. The dealership will add it to your loan. If you are buying a $10, 000 car and still owe $10, 000 on your trade. You will owe $20, 000 plus interest on your new $10, 000 car. So, in order to stay away from Sub-Prime or Bad Credit lenders: Increase your rating before buying a car or pay more in monthly payments to even out your LTV. And watch out for shady salesmen and finance managers, they will rape you out of every penny if you let them.

    Best of Luck,
    The Last Honest Salesman

  • Sn
      18th of Nov, 2008
    0 Votes

    There is hope. I am a pre-law student and my husband is a victim of the "yo-yo" or attempted "spot delivery" scam. My beef is more so with Car-Max as opposed to Drive Financial; however, I am sure that Car Max's practices are a direct reflection of Drive Financial's practices. I have only had my car for 14 days and I received that dreadful phone call today. I need to pay 100-400 dollars more or I need to return the car. Its not the money that I have the problem with; it is the principle. I should have known something was wrong after noticing that the retail installment contract includes a class action law suit waiver. As a pre-law student, I love to research; so you may find some of the things that I found to be quite interesting.

    Please click the following link for more detailed information:
    http://www.avvo.com/legal-answers/oh-state-contract-law--buyer-signed-contract-to-bu-9794.html

    Please click the following the link and scroll down to the map and click on your state to find contact information.
    http://www.naag.org/

  • Ra
      20th of Nov, 2008
    0 Votes

    I purchased a car and Drive financial financed it. I am not going to lie, they need to do better on the "customer Service". I agree with Bryan and Eric. As long as you pay your carnote on time, you will not have any problems.They do charge about $8.77 each day you are late and the more days you are late, the less goes towards your principal. They did put two of my payments at the end for me when I got behind.I guess I got a good rep.I have had some terrible reps who didn't know anything!I am happy they did give me a second chance when no else would not.I am trying to build my credit up so next time I will get a better company.My credit score have went from 420 to 550 since I have gotten the car in July 2007.

  • St
      29th of Dec, 2008
    0 Votes

    Drive Financial is one of the worst companies I've ever dealt with. I was 16 days past due ... not 160 and they were ringing my phone off the hook. I asked them on THREE seperate instances TO STOP CALLING MY JOB! They kept calling. The little no talking fool who called me today at work? Was just pathetic. Apparently they hire individuals with no talent or professionalism. The Customer Service is a joke! I don't care if we are in a recession and these companies have the upper hand! You listen to the requests of your customers and you talk to them like you have some sense and had some type of training. All of which I'm guessing is missing.

  • Da
      9th of Feb, 2009
    0 Votes

    We also had a very bad experience with Drive, for the first six months are payments were being credited to the vehicle we traded in not the one we purchased, and every month we were charged late fees because of there mistake.We were also charged late fees for paymenets they let sit on a desk and inputed into the system one day late just about every month.We also recieved collection from Drive on Sundays wich in Texas is illegal.It got so bad that we actually filed Bankruptcy and now our Bankruptcy is complete they have paid in full and it has been over a year and we are still getting the run around as to when we will recieve the title for our vehicle.In a phone conversation with Drive today 02-09-09 we were told we still have an outstanding balance of almost $6000.00.This company is a complete fraud and it takes advantage of people with less than perfect credit and the sales people who deal with them should also be held responsible, if you are offered Drive as a lender when purchasing a vehicle you should pass no matter how bad you need it.

  • Ke
      16th of Mar, 2009
    0 Votes

    I agree Drive is a total and complete ripoff. BUT ... they are probably the only company that would give you or I a second look. The interest rates are horrible, customer service is horrible ... the company is horrible. We all know this. Whenever doing something that requires changes on THEIR end you need to BABYSIT them every step of the way to make sure they don't screw it up and charge you for their mistakes. To date (13 months into 6 years of $600 a month payments) I have never been late and have never had a problem. I use their online system to ask questions, and I setup a recurring ACH payment so the money is automatically deducted from my account. Never had a problem. What you need to try to do to the best of your ability is NEVER RUN THE FULL TERM OF A LOAN WITH DRIVE. REFINANCE OR TRADE IN ON SOMETHING ELSE THAT YOU CAN GET FINANCED FOR THROUGH ANOTHER BANK. If you are a responsible person and pay all of your bills on time you will be able to do this. I lost my job in '06 and my perfect credit went to ###. Since then i pay on collection accounts every month, make all my credit payments on time every time. You do this you'll be able to refinance within a few years, get away from drive and stay away. If you are a habitual late payer and can't properly manage your money expect Drive to take you for every extra penny you have. They will bend you over until the end of time and you will never be rid of them.

  • On
      2nd of Apr, 2009
    0 Votes

    Hello all,
    I would to tell everyone out there that Drive financial is suck.
    I bought my SUV in Lake Whales FL in 2007 at Houston Motor after I fall behind my payment they started call me 5-7 times a day. In March 2009 I made two payments, the same day the second payment went throught I received 7 calls from different person there after I made a payment arrangement to pay on April 10, 2009 telling me that they are going to repos my car, I told them that that's fine and they told me they will wait for me.
    Drive Financial is not a good company-
    I would like to be a part of the law suit anyone want to file

  • Jo
      23rd of Apr, 2009
    0 Votes

    I had a 05 chevy Z71 financed through drive had it for a year at 620.00 a month that wasnt a problem till march of last year i had a A.T.V acciedent couldn"t work for two months Near Death should I say.they recieved a hospital report.To make a long an painfull story short.The supervisors and employees at drive are lower than a snakes belly. and all they wanted was 620.00 my mom cant afford that .i go back to work an Nov. of this year got laid off called them come get it they sold it for 8 grand an stuck me with way over 27 grand thats wrong an money hungry .So screw drive financial

  • Fo
      24th of Apr, 2009
    0 Votes

    In August of 2007, Regions bank lost a very large direct deposit. This caused my checking account to be overdrawn. At that time our Drive payments were ACH'd. Due to the problems with our checking account, the payment was insufficient. The error at the bank was corrected and several days later Drive pulled the funds for that August payment. Needless to say, we have received phone calls everyday for almost 2 years. Even with proof (copies of statements and a letter from my bank president), Drive still claims not to have received the payment. We believe the payment was posted to another account, which does happen quite often with this company. Now...here is the kicker. We changed banks and started making payments with the new account. Drive took it upon theirselves to automatically draft an extra payment from my new account. WITHOUT AUTHORIZATION!!! Ok...this should give them the payment that they claim is still behind, NO, they still call for that one too. When we sent proof again of the unauthorized payment being takien from our credit union account, we were told that we were crazy and that my bank probably made that up for us. HUH? So, needless to say we are now sueing Drive Financial for fraud and theft by deception. My credit union is also investigating them. The investigator was appalled at the business ethics of this company and is making a formal complaint on our behalf to the attorney general's office. Hopefully they will listen to him, considering that my credit union is a federal government entity. Also, Drive might be a finance company for at risk people, but we had good credit!!! The salesman that sold us our truck, later told us that his sales manager told him to put us with Drive because at that time, the dealership was making a $2500.00 kickback on anyone that they financed through Drive Financial. We have tried to refinance, but Drive holds it up. We have offered to pay the truck off, but each pay-off quote is extremely different. We have yet to speak to somenone that can speak fluent English and be courteous. Instead we are told that they will come get our truck and there is nothing we will say about it. I hope they do try... I live on 40 acres of land and my house is way in the back. It's a long driveway for a repo truck to try and sneak down, if they get through the gate. Once they are on my PRIVATE property, I have the right to defend my property and the law cannot intervene. It is a civil matter! Repossesson tactics are illegal, and it is considered theft, yet hard to prove. I know because my husband and I used to repo for Drive and many others.

  • Ah
      14th of May, 2009
    0 Votes

    I purchased my car in 7/06 financed for 11815 as of today my balance is 10387. How is it that I have paid appox, 8500 and only 1500 went to balance.Yes, I have been late on my loan but even being late all my money should not be going to the interest. I called someone not a supervisor and they could say was you have a high interest and you have been late but if you pay ahead you will be good. Damn i have paid 8000 i should be good now. I can't refinance and to sell I cant take my name off the contract but add buyer. They are some slick scramers. I need help called several lawyers and no help .

  • Ni
      27th of May, 2009
    0 Votes

    I work with drive and i have heard all these complaints time and time again. What most drive customers dont understand is how this works. I have read the complaints on this site and i will try to clear the dust a little here.

    As for as phone calls go, once your account is past due one day or thirty days it is past due you will recieve calls customers often ask is there a grace period there is none. They ask why are we calling if its only five days past due, when we call its to benifit you look at it this way we can let you make your payments late and most of the funds if not all go to your interest which means your principle would not be covered and you will be forever paying of your loan which would mean more money for us or we can call you so you can make your payments on time and you would have your vehicle. As far as how many times we can call a day well lets put it this way FDPCA states we can only TALK to a customer once in a day.


    When we ask why the payment is past due a lot of customers get an attitude and say its none of our bussiness. The best way i can explain this is to ask you to put your self in our shoes. Lets say you loaned a friend 150.00 and they told you that they would give you it back in 3 days and those 3 days has past you went to your friend and ask for your money and they said they didnt have it wouldnt the first question you ask be why.


    I admit that some reps here are rude but not all and we do also have to deal with alot a rude customers. We do get hung up on, cuss out and told some of the worst things ever and we have no choice but to say nothing, some of the customers do have reason to be upset but chance are when we call you or you call us it would be the first time you have spoken to that rep and have a hot head and cussing is not going to solve anything, we will try to calm you down and try to come to a solution on the account but if you continue we will disconnect the call. I do apologize to all of those customers who has had bad customer service.


    Now the topic of repo. This goes out to the lady who said her account was current and she woke up and her car was gone and she heard nothing from drive, thats because that wasnt us honey you should have called the cops. We will do every thing we can so you can keep your car but if your account goes into a very delinquent status up to you to let it get there.


    As to the person who wanted to know if we pay people in the goverment that no one can do somthing about drive, here's the plain truth there is nothing to do we are not doing anything illegal.


    Some tips to avoid trouble is simple make your payments on time, try in a professional manner to resolve your account if you get a rep that not willing to listen hung up and call back you WILL get some one else

    A proud drive employee

  • Do
      1st of Jun, 2009
    0 Votes

    I am presently awaiting my first bill from Drive Financial. If these comments are true, and it appear that most negative complaints if not all, stem from late payments, so i hope for the best. If by chance, i am misstreated. I will as is my habit, contact all congressional representative in both houses of congress. I have found, these type actions work best.

    The best way i think to avoid the high interest payments are to pay extra each month, if at all possible.

    I think most of us are lucky with our screwedup credit we didn't end up with a loneshock kneecap busting, baseball welding finance company.

    But, i am glad drive is financing my car, because nobody else would. Even though medical bills caused my bad credit.

  • Ki
      1st of Jul, 2009
    0 Votes

    THIS IS A CROOKED COMPANY!!! I have never purchased a vehicle from this company, yet found a $13, 000 charge from them on my credit report. The credit report says I purchased a vehicle in Januay 2009, then it was reposssessed in March of 2009. Balance due is $12, 789. I'VE NEVER DONE ANY BUSINESS WITH THIS COMPANY AND HAVE NEVER PURCHASED A VECHICLE FROM THEM! AND OBVIOUSLY NEVER WILL!! I have tried calling and writing this company to find out further information about this supposed purchase and no one answers, no response and I just get never-ending voicemail jail. Can anyone help me with this ???

  • Wt
      1st of Jul, 2009
    0 Votes

    Get copies of all 3 of your credit reports (transunion, experian, equifax.)

    The ones that have this item listed on them, open a "dispute" to have it removed from your credit report.

    They will contact the company and attempt to determine why its listed on your report incorrectly.

    If they find it is, they will remove it. If not, at least you will get the reason exactly why it is on there (husband, boyfriend used you as cosigner for loan etc)

  • Ti
      10th of Jul, 2009
    0 Votes

    my husband and got a car financed through Drive and in 07. we have made all our payments except one becuase they didnt send out statments. we were told that we were 2 mths behind. we knew that wasnt true, but we paid the $1100 to catch it up. we called back today only to find out that we still owe $1000 and when i asked how, they were very rude and told me that i still owed for the Jan payment. they took half the 1100 and put it on "one payment" which was made in march and the other toward intrest. so the Jan payment is still occuring late fees because they didnt put it on that month. this is so unfair. i hate this company, and wish someone could help us. i just want them to come and get the car. although we dont get phone calls, we would like a statement!

  • Td
      14th of Jul, 2009
    0 Votes

    drive financial is horrible!!! I am praying for a miracle so that I can pay an extra 1000 dollars towards my car every year just to be rid of them. my credit wasn't horrible. my credit score was 640 when i was looking for a car. the dealership was shady and NO other finance company would do buisness with them!!! May i add that this dealership has now folded and is no longer in business:) Now i'm praying that if drive fiancial keeps up their nonsense eventually we will all breathe a sigh of relief. i have been treated badly, had my car repoed by bad tow company, it is horrible. I didn't ask to lose my hours at work and my husband lost his job. anyway, i am intersed in a class action lawsuit anytime.


    terri davis-sc

  • De
      3rd of Sep, 2009
    0 Votes

    I am with Triad and I was thinking of re-financing, but Triad said I would have to go thru Drive for re-financing and after reading these horror stories, I said H to the N-O!!!Forget that, I will just keep what I got.

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