• Report: #835296

Complaint Review: Drivetime

  • Submitted: Tue, February 07, 2012
  • Updated: Wed, August 29, 2012

  • Reported By: Facthunter — Bradenton Florida United States of America
Drivetime
Bradenton, Florida United States of America

Drivetime Don't be 30 seconds late, or they'll get your overpriced vehicle Bradenton, Florida

*Consumer Comment: I have had a bad experience with Drivetime, also.

*Consumer Comment: Real reason.

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So when you buy a car at Drivetime, they know you are in a state of marginal, if not horrible credit, so that's the catch. Their prices are twice any value based on NADA, KBB, or Edmunds (they claim that they can value a vehicle because they finance them, but $10k for a $4k car??? Really???)...and it gets better. They claim that they give a 3 day grace period, but realistically that is a lie. They say they try to contact people, but they don't really. At 27.5% interest, you'd think they'd cut some slack...geez!!!

Whatever you do, stay far away from these people, and find another option. There are plenty of other ways to finance a car, and I'd recommend trying all of them before you step foot on a Drivetime lot. Good luck!

This report was posted on Ripoff Report on 02/07/2012 11:16 AM and is a permanent record located here: http://www.ripoffreport.com/r/Drivetime/Bradenton-Florida-34202/Drivetime-Dont-be-30-seconds-late-or-theyll-get-your-overpriced-vehicle-Bradenton-Flo-835296. 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

I have had a bad experience with Drivetime, also.

AUTHOR: Tampa Bay - (United States of America)

Like you, my experience with Drivetime has been very negative. I bought a Chrysler Town & Country and have been making payments for the past 28 months. I still owe double the trade-in value and the vehicle is a piece of junk. Their customer service protocols are the worst  I have ever experienced. Their warranty department appears to be running a scam where they sent me to a certain shop that told me that the part that was broken was not covered by warranty; Drivetime would "finance" the repair and supply them the part. I knew that the part that was broken was covered by warranty, so I had it fixed elsewhere and saved the receipt.

I spoke with a legal professional who believes I can use this in a lawsuit against Drivetime, as well as the fact that their $4.50 per day financing fee is something that most judges in Florida might order them to refund. The key will be to bring a class-action lawsuit against them. Unfortunately, until our vehicles are paid off in full we are liable for any of their legal fees if we sue them, as per the contract we signed. I can get my vehicle paid off this summer if you or anyone else out there wants to join in a class-action law suit against Drivetime. This company really needs to be stopped from the harm they are doing.

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#2 Consumer Comment

Real reason.

AUTHOR: Flynrider - (USA)

" (they claim that they can value a vehicle because they finance them, but $10k for a $4k car??? Really???) "

   They're just being nice.   They wouldn't want to tell you that the real reason they get twice the market value is that they have tapped into a customer base that is clueless enough to agree to buy a $4K vehicle for $10K.   The fact that they can get these folks to agree to pay 27.5%  interest on a ridiculously inflated sales price is just gravy for them.

   Anybody who does the math can figure out that they could buy a decent used car for cash with just a few of the inflated monthly payments they're making to places like this.    Of course, such mental gymnastics are rarely performed by the "gotta have it now" types that frequent such car lots.   I cringe when I hear about some poor slob paying higher monthly payments on a 5 yr. old beater than most people pay on a new BMW.
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