• Report: #300832

Complaint Review: DRIVE FINANCIAL

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  • Submitted: Thursday, January 17, 2008
  • Last Posting: Thursday, January 17, 2008
  • Reported By: — DES MOINES Washington
DRIVE FINANCIAL
P.O. BOX 562088 SUITE 900 DALLAS Texas 75247 U.S.A.

DRIVE FINANCIAL , MAJORITY OF PAYMENT APPLIED TOWARD INTREST. DALLAS Texas


1Author 1Consumer 0Employee/Owner

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I have been paying on my suv for all most 17 mos, and my payments are $850 month only $100 is going toward the suv this is wrong. Something must to done about company that take advanage of consumer If there is any class action sueds i want to join. Also if I were keep making my payments for the next four year i would pay $60.000 for suv. I am not making any more payments. I am giving it back.

p.s I need a good lawyer

Robert
DES MOINES, Washington
U.S.A.

This report was posted on Ripoff Report on 1/17/2008 7:58:40 AM and is a permanent record located here: http://www.ripoffreport.com/car-financing/drive-financial/drive-financial-majority-of-8bpew.htm. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

The way loans work

AUTHOR: Mike - River Edge (U.S.A.)

SUBMITTED: Thursday, January 17, 2008

Robert,

Drive Financial works with high risk car buyers, and therefore charges a HUGE interest rate, so yes, you will wind up paying a large amount more than you should for your vehicle, and yes, most of your payment is paid towards interest and not principle.

You don't need a lawyer, you need t9o budget your money, get your credit rating up and finance a car with a reputable loan company for a fair interest rate. My car payment on the amount I owe is $168/month with $34 going to interest.
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