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Drive Financial / Drive Financial Fraudulent Financing

1 IL, United States Review updated:

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 permission 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 verified 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 acquisition 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, 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 verified 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 monthly 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 repossessed by Drive Financial...we are being financed 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 amount or even your employment history in order to get you financed. I believe I can prove damage because this fraudulent act has caused me to suffer economic harm which could led me to the loss or a repossession because I did not financially qualify for the vehicle based on the financial qualifications I provided it was all based on fraudulent unverified income.

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  • Sa
      24th of Mar, 2009
    -1 Votes

    You sound like someone who bought a car that they are unhappy with and now want out of the deal. Even if they "helped" you get a loan you still all the numbers before you signed and that makes you responsible. Can't stand this i'm not respinsible attitude from people. You got a car, you probably haven't paid your bills or you wouldn't have to go threw Drive, and now your pissed. "GET OVER IT" People like you are hurting our society.

  • Sa
      12th of May, 2009
    0 Votes

    Pull your head out of yowazz...

  • Im
      30th of Jul, 2009
    -1 Votes

    What would you be driving had you not been financed through drive? All of the complaints i've read about are from people that feel they are being raped on the interest or get their car repossessed because of late payments. Guess what? You signed a note stating what you have to pay per month and for how long. The note also states what happens if you don't pay. Your credit isn't ### because of your divorce. It's ### because of situations like this. You buy something you can't afford, and now you want sympathy because you got "screwed" and it's the lender's fault you can't make payments. Since you made this posting online, you clearly have access to a computer. Next time, do some research. There are thousands of websites with loan calculators, and you can even research different finance companies. I have poor credit and knew that without a cosigner, obtaining an auto loan would be difficult. I was approved through drive financial. I was told the terms of the loan, and if it was something I couldn't pay, then obviously I would get something cheaper. You aren't entitled to whatever kind of loan you want if you have bad credit. Have some common sense and try researching before you spend thousands of dollars you don't have. derrrrrr

  • Rw
      16th of Sep, 2009
    0 Votes

    I have to say flaming the original poster does not help anyone. I personally have not had any problems with drive.. aside from finding the new company name so i can send in my blasted payment. I have had times where I was late on a payment even up to three and they worked with me on it.
    Original poster.. my view on your post is as follows. I can see why you are upset. I totally understand. However, in this case your beef is with the car dealership. If they resubmitted altered papers to get you approved then you definitely have a case from a legal standpoint .. but not with Drive. Your problem should be directed at the actual dealership which aided in such fraudulent doings. Odds are they will push the issue as a "single employee issue that should be handled with that employee". In short trying to wash their hands of the situation. I would suggest finding a lawyer and getting a free consultation with the available paperwork that you have. All i can say is good luck to you.
    You two who had such negative and essentially useless comments// at least be vaguely productive instead of completely derogatory when you have no idea what the situation may or may not be. I have dealt with crooked companies in the past and know that these things can and do happen even to those who pay their bills regularly.

  • Sa
      6th of Oct, 2009
    0 Votes

    Lets start off by saying that there is a reason why everyone who is giving negative feedback is on this website looking into complaints about Drive Financial/Santander. With the way you all take it personal, maybe you work for them. The fact is that credit takes awhile to clean up. I have completely cleaned up my credit, but I now have to worry about where $12, 000 in payments have been applied. Drive Financial/Santander does not do refinancing, but I would suggest going to a credit union to see if they would refinance you. Also, I do agree that this is a difficult economic time, but that doesn't take the responsibility that we have made. I have decreased $600-800 a month and have an additional child, it is difficult but if I don't have a car, I won't have a job. Instead of people being so negative, why don't you try to provide some positive feedback, maybe some suggestions instead of shooting people down. Again, you're reading about complaints about Drive Financial for a reason, not just because you are bored.

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