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Drive Time / predatory lending

Charlotte, NC, United States Review updated:

This company drives on predatory lending..that get you in with everyone is approved but they sell cars that are not worth what they are selling them for and they have interest rates that are out of this world. The constant harrassment for one day late payment is crazy. All of their cars have problems from suspension to transmission. When you take the car in you have to pay $50 for them to check it out only for them to tell you nothing is wrong with it. They need to be stopped!!! I own a 2005 Ford 500 and it's only worth $5, 000 but I owe them $20, 000. Is this not predatory lending!!!

Fw
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Comments

  • To
      7th of May, 2010

    We purchased / 2/cars, and had problems with both. I live in Durham, NC. If you would like to email me back and talk about the high interest rate and what can be done. I am ready. I am a praying person, and don't believe God is pleased with this! Lets talk. Email me back if you would like to talk further. [protected]@yahoo.com

    +1 Votes
  • Cd
      9th of May, 2011

    I agree with the first comment. I bought a 2004 Chrysler Sebring which is only worth about $4, 000. Drive Time sold it for $13, 000 and let us not forget the $7, 000 interest I was charged at almost 22%, which comes to a total of $20, 000 for a car that I can't even get $1500 for in a trade in! Yes, they helped me get into a car, but I am paying out the bazooka for it! My advice is to try to stay on top of your credit so other companies won't get to do this to you again!!!

    0 Votes
  • Cy
      20th of Feb, 2014

    Tony Judd!

    I read your complaint and others about DriveTime being a scam. I'm so disappointed, I need a car really bad, and I am ready to go look at what they have here in Charlotte, NC. I will confront them, and see what they say.
    I met someone else who purchased a car through them, here in Charlotte, she seemed happy.


    Disappointed,
    Cyd33

    0 Votes
  • Dp
      3rd of Jul, 2015

    You can only blame yourselves. You didn't research the car you were buying, you agree'd to the price, if you didn't like it why did you buy it. If you are going to drive time chances are your credit is junk. They know this, you know this. They know if you want a car, they are prob one of the few chances you will have to get a car that is not 35 yrs old. Don't like it, don't buy it. I keep laughing at people that pay 3 times the cars value, then complain about it like they had a gun to their head.

    Wise up, its your fault and no one elses

    -3 Votes

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