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DT Acceptance Corp / total loss

1 Hawthorne, CA, United States Review updated:

I got into an accident. My insurance company declared the car as Total Loss. Therfore, my insurance company paid the car off. A couple of weeks later I receive some mail from drivetime sayin I still owe them money.

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Comments

  • Po
      22nd of Dec, 2009
    0 Votes

    Your insurance company paid DT the fair market value for your totaled car. DT specializes in bad credit loans, therefore there is mark up on the cars on their lot. you agreed to this by buying a car from them. so the fair market value of your car did not cover what you still owed the finance company. it is your responsibility to pay off your debt with them. this is not grounds for a complaint, you should have read and understood your contract. i read into this company and they are quite fair. you could have been ripped off by some one like JD Byrider, or Kids Auto who would sell you a lemon for twice its bluebook and charge you 80% interest. Dt offers a 6 month warranty for all their cars( you dont find this from any other "bad credit" dealers) Dt also offers a "Total loss program" which is where you get another car from them equal or less of the value of your totaled car and they wipe the money you owe on your totaled car away after 6 months of on time payments. However the total loss program has a $500 participation fee. I see this company doing good things for people, you just did not understand your contract. Read into things before you play the victim and try to trash a good company.

  • Ju
      2nd of Jun, 2010
    0 Votes

    I can personally add to the last person. The fee is $500 and then a down payment. I will say I am thankful 100% for this. My husband hit a deer at 75 mph OMG the car didnt look totalled but as you got further into it .. It ended up with 7500 in damages. I thank god for USAA and for DT.. I would not have been able get into another car without them. Yes there would have been an unresolved amount if! and only IF I didnt go with the total loss program. They wrote off the amount owed and got me back into another car. Sure who doesn't hate to pay for the high interest. This made it worth it to me .. having three kids and being in the military away from family.

  • Un
      20th of Aug, 2010
    0 Votes

    The response sounds like drivetime responded in there own words. I'd say, do watch these folks. Yes, we may need your help, but not taken advantage of.

    Be careful how you tell these guys you get paid. Your monthly payment may end up being a whole lot more.

    Don't listen to the sales person or finance person when you make a purchase. Make sure you read your contract. You would think verbal is good enough, however, they do use the contract against you when notice inconsistencies.

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