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Drive Financial Services / Loan

1 12 AvenueHolly Ridge, NC, United States Review updated:
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Drive financial are crooks they steal your money, over charge you, the CSR and rude and they just tell their customer lies. They charge interest everyday you have the car and then if you are a day late they add more money. My first payment went just to interest nothing to my car and when i asked about deferments because i was having a little trouble they told me someone in my family have died.. drive are horrible and worst some of the agents dont even speak english and they claim they are in Dallas Texas, , , , yeah right...NEVER GET A LOAN FROM DRIVE>

Jo
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Comments

  • Li
      2nd of Jun, 2008
    0 Votes

    First of all it is a Simple Interest Loan just like any other finance company. It is the most popular auto finance loan, this means that you pay interest based on your principle balance. The interest is also calculated per diem, which means they break out your 24.99% over the course of 365 days. You do not have an interest only loan so some of your payment goes to interest and some goes to principle. Second issue...you cannot get a defferment unless you are 60+ days late and it has to be approved. you normally would had to have made about 24 months worth of payments first. Deferrments cost Drive money since they have to pay the bill for you at the time. They borrow the money from a bank just like you borrowed from them, so if you dont pay they have to. and they are located in downtown dallas texas and are strong believers of a having a diverse company, but obviously if someone is from another country or culture and dont sound like you they are not allowed to work.

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