• Report: #957178

Complaint Review: JD BYRIDER Lansing MI

  • Submitted: Fri, October 19, 2012
  • Updated: Fri, October 19, 2012

  • Reported By: Lillian — Lansing Michigan United States of America
JD BYRIDER Lansing MI
4811 S Cedar St Lansing, Michigan United States of America

JD BYRIDER Lansing MI They told me they will not charge over 20% other companies do but they don't. Found out they are charing me 23% interest. Lansing, Michigan

*Consumer Comment: How this works.

*Consumer Comment: Not fraud

*Consumer Comment: What interest rate is on the contract you signed with them?

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My car died in August of 2012, went to my bank, credit score a little too low.  I went to J.D. Byrider, the biggest mistake of my life.  The first thing that was strange is before we go over all the paperwork, they wanted to let me know they video tape everything.  Tell me what kind of Car Dealership has to do something like that ?  Never heard of it before.

My first payment taken out of my account was $286.00, $78.00 of that was for a down payment on the car, and $36.00 was for added insurance. That was what we agreed on, but a few days later they took the insuance out again.  I contacted JD BYRIDER to aks them about it, they said it was a mistake and would put it back in my account. It happen two more times after that, same thing, we will correct it, it won't happen again. The third time I didn't have extra money in my account, put me into over draft. 

I was livid, told them I wanted to bring the car back. They told me I could not return the car they made a human error it was NOT A VIOLATION OF THE COTRACT AGREEEMNT.  If I did bring the car back they would sell it at a car Auction,  I would still be responsible for the balance,  and the payments would be $ 172 .00 every two weeks until it was paid off.

They told me before I bought the car they don't charge over 20% interest, other high risk dealerships do. I had someone help me figure out the interest rate it is 22.99 percent or 23%. 

I am going to see an Lawyer today that work with Comsumer Fraud and Contract law. I am not sure if anything can be done, but I need to check before I can rest.

Please even if your Credit Score is lower than most, go to a Regular Dealership, they do work with people with less than perfect credit, and the interest rate may be a little higher than the average person, but never over 20 % .     

Please don't ever use JD BYRIDER unless you want to pay between 350.00 to 400.00 a month. For a car like mine. kELLY BLUE book said 3,400 dollar J.D. sold it to me for $10,000 plus, and added $5,000 by the end of the loan with the interest. Total price 16,800 dolloars for a car worth 3,400.00

This report was posted on Ripoff Report on 10/19/2012 10:31 AM and is a permanent record located here: http://www.ripoffreport.com/r/JD-BYRIDER-Lansing-MI/Lansing-Michigan-48910/JD-BYRIDER-Lansing-MI-They-told-me-they-will-not-charge-over-20-other-companies-do-but-t-957178. 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 Consumer Comment

How this works.

AUTHOR: Flynrider - (USA)

"   The first thing that was strange is before we go over all the paperwork, they wanted to let me know they video tape everything.  Tell me what kind of Car Dealership has to do something like that ? "

  The kind whose customers sign loan agreements for 23% interest and then later claim to have not known the interest rate.   

   Honestly, you are this dealerships poster child.

" For a car like mine. kELLY BLUE book said 3,400 dollar J.D. sold it to me for $10,000 plus "

  But you agreed to pay $10K for a $3.4K car.   Doesn't it seem a bit silly to be complaining about the price AFTER you agreed to buy it?   Common sense should tell you that the time to balk at high prices is BEFORE buying the car. 

  While you paid and absurd price and an absurd interest rate (like all of their customers do), it's hard to call this a ripoff.  They have a video of you agreeing to everything that you're now complaining about.

 

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#2 Consumer Comment

Not fraud

AUTHOR: coast - (USA)

"I had someone help me figure out the interest rate it is 22.99 percent or 23%."

Are you illiterate and in need of someone else to read the agreement you signed?

"I am going to see an Lawyer today that work with Comsumer Fraud and Contract law... For a car like mine. kELLY BLUE book said 3,400 dollar J.D. sold it to me for $10,000"

Kelley Blue Book is a useful resource for companies and individuals that are buying and selling vehicles. You chose to purchase a vehicle without consulting that resource. You are not a victim of fraud because auto dealers are not required to sell vehicles at Kelley Blue Book prices and you agreed to the interest rate.
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#3 Consumer Comment

What interest rate is on the contract you signed with them?

AUTHOR: Ken - (USA)

You DID read it, right?

"I had someone help me figure out the interest rate it is 22.99 percent or 23%.  I am going to see an Lawyer today that work with Comsumer Fraud and Contract law. I am not sure if anything can be done,"

"For a car like mine. kELLY BLUE book said 3,400 dollar J.D. sold it to me for $10,000 plus, and added $5,000 by the end of the loan with the interest. Total price 16,800 dolloars for a car worth 3,400.00"

Did you sign the agreement to these terms?  If so, what's the Ripoff?

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