• Report: #380258

Complaint Review: DriveTime Auto Sales

  • Submitted: Fri, October 10, 2008
  • Updated: Tue, December 02, 2008

  • Reported By:Tampa Florida
DriveTime Auto Sales
www.drivetime.com Tampa, Florida U.S.A.

DriveTime Auto Sales Upside down in loan! Tampa Florida

*Author of original report: to the "WOW KRISTEN" individual

*UPDATE EX-employee responds: Wow Kristen!

*Author of original report: Exactly!

*Author of original report: Exactly!

*Consumer Comment: And...

*Consumer Comment: And...

*Consumer Comment: And...

*Consumer Suggestion: What's the problem?

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First off, let me just say that I'm not one of those unfortunate individuals who happens to have gotten involved with a car from Drivetime that is breaking down daily. I purchased a 2004 Hyundai Elantra GT from them in January '08 and it's running really well. My only complaint from them is that I naively am now upside down in my loan and am basically stuck. And yes, they call if you're a day late on the payment, but when I've spoken to them they're helpful and understanding if I need an extra day because a paycheck didn't clear or if I just plain forgot to make the payment online. But my experiences with them have been overall positive. Sure, I had to put new tires and new belts on my car after the 6-month warranty period was up (not that it would have covered it anyway), but I drive my car for a living and things wear out. They're used cars---expect repairs to happen. If they sell you a lemon, report it... period. There are major, mainstream dealerships that have sold cars (both new and used) that have been eventually classified as lemons. And, Drivetime doesn't exactly sell top-of-the-line vehicles. Many are cheap or less expensive models of major manufacturers. And no, my decision to go with Drivetime wasn't because I was irresponsible with my personal credit; that can all be associated with identity theft and only student loans to show for.

It's unfortunate, but unless an actual federal or state law has been broken, which I doubt it has since they're still in business and legally are abiding by legislation assigned to them by the respective states they're operating in, then you really can't do much about it. Follow the proper precautions and use common sense when getting involved in legal financing options. My suggestion, is go to Carmax in the future. I know from personal experience that they have financed individuals with credit circumstances that straddle the spectrum. The down payment is a little higher ($1000 minimum), but they're more 'mainstream' and legit and have a better track record when it comes to consumer appreciation.

Kristin
Tampa, Florida
U.S.A.

This report was posted on Ripoff Report on 10/10/2008 08:30 PM and is a permanent record located here: http://www.ripoffreport.com/r/DriveTime-Auto-Sales/Tampa-Florida/DriveTime-Auto-Sales-Upside-down-in-loan-Tampa-Florida-380258. 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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Updates & Rebuttals

#1 Author of original report

to the "WOW KRISTEN" individual

AUTHOR: Kristin J. - (U.S.A.)

First off, if you're trying to 'put me in my place', then perhaps you should pay attention to the name and be sure you can at least spell it right. It's "KRISTIN", not "KRISTEN", by the way. At least have the common courtesy to allocate letters correctly before making accusations or taking your cheap shots down a notch.

Secondly, no, I'm not professionally associated with Drivetime. Excuse me if my experience hasn't been complete crap like so many other individuals. And yeah, I'm boned since now I can't get re-financed or even get rid of my car as a trade-in because of the enormous amount of negative equity in it. But I'm not going to bash a nationwide business because of choices I made to get financially involved with them. Everyone's situation is different. All I'm trying to say is that not every single circumstance turns out belly up. If people just research a little before delving into risky situations, then avoiding hardship down the road is definitely attainable.
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#2 UPDATE EX-employee responds

Wow Kristen!

AUTHOR: Ezuki4x - (U.S.A.)

Most of these replies are correct. People really dont understand what they are doing or signing when buying a car>
I just have to say though...does anyone else find it a little odd and fake that an individual like Kristen would search out a scam website to write good information about a company? Tell the truth...you...a friend...boyfriend? Which one works for Drivetime? Are you the Kristen from the Florida Avenue dealership? Nobody looks up a complaint website just to list satisfactory information. Nice try!
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#3 Author of original report

Exactly!

AUTHOR: Kristin J. - (U.S.A.)

I didn't want to respond individually to the 30 or 40 complaints by people who apparently don't understand the automobile industry very well, so I wrote my "complaint" as a rebuttal of sorts. I'm actually happy with Drivetime and I would recommend them to people only after they try their own financing through FCU or banks.
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#4 Author of original report

Exactly!

AUTHOR: Kristin J. - (U.S.A.)

I didn't want to respond individually to the 30 or 40 complaints by people who apparently don't understand the automobile industry very well, so I wrote my "complaint" as a rebuttal of sorts. I'm actually happy with Drivetime and I would recommend them to people only after they try their own financing through FCU or banks.
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#5 Consumer Comment

And...

AUTHOR: Robert - (U.S.A.)

Where is the RipOff?

Is this your first car? If so I have some news for you, a car is not an investment. As soon as you signed the documents you owed more than it was worth(Upside Down). With most car loans you are going to be this way for about 75% of the length of the loan if you just pay the monthly required amount. If you added things such as Warranties, GAP Insurance, accessories to the car loan you start off even more upside down.

As for the down payment that is determined by your credit and the cost of the car. However, $1000 is actually about average. The days of No or $500 down are just about gone unless you have perfect credit.
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#6 Consumer Comment

And...

AUTHOR: Robert - (U.S.A.)

Where is the RipOff?

Is this your first car? If so I have some news for you, a car is not an investment. As soon as you signed the documents you owed more than it was worth(Upside Down). With most car loans you are going to be this way for about 75% of the length of the loan if you just pay the monthly required amount. If you added things such as Warranties, GAP Insurance, accessories to the car loan you start off even more upside down.

As for the down payment that is determined by your credit and the cost of the car. However, $1000 is actually about average. The days of No or $500 down are just about gone unless you have perfect credit.
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#7 Consumer Comment

And...

AUTHOR: Robert - (U.S.A.)

Where is the RipOff?

Is this your first car? If so I have some news for you, a car is not an investment. As soon as you signed the documents you owed more than it was worth(Upside Down). With most car loans you are going to be this way for about 75% of the length of the loan if you just pay the monthly required amount. If you added things such as Warranties, GAP Insurance, accessories to the car loan you start off even more upside down.

As for the down payment that is determined by your credit and the cost of the car. However, $1000 is actually about average. The days of No or $500 down are just about gone unless you have perfect credit.
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#8 Consumer Suggestion

What's the problem?

AUTHOR: Flynrider - (U.S.A.)

About 90% of people that buy a car are upside down in their loan the second they drive off the lot. That's what happens when you buy a new car, or pay too much for a used car. This is especially true if you're paying ridiculous interest rates like those usually offered by places like Drivetime and Carmax (with a relatively small down payment). The payment details were in the contract that you signed. I don't understand why this is a ripoff.

I have an acquaintence that is a finance manager at a car dealership. He often brags about how far upside down his latest victim was when he left the lot. his victims are people who constantly trade in cars that are not paid off, so they can get a newer one. The outstanding balance rolls into a newer loan with an even higher interest rate. A couple of weeks ago he sold a new Hundai with one of these upside down trade ins. The sucker left the lot owing $35,000 at 24% interest on a car that was worth $18,000 at best. The payments on that car could have paid for a Mercedes. Consider yourself lucky.

This is a legal racket that extracts ridiculous amounts of interest and finance charges from those who really can't afford the car in the first place. Buy with care.
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