• Report: #207368

Complaint Review: JD Byrider, CNAC Finance, MVP Finance

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  • Submitted: Tue, August 22, 2006
  • Updated: Sat, August 26, 2006

  • Reported By:Mount Juliet Tennessee
JD Byrider, CNAC Finance, MVP Finance
1525 Gallatin Road Madison, Tennessee U.S.A.

JD Byrider, CNAC Finance, MVP Finance ripoff dishonest financing Madison Tennessee

*UPDATE EX-employee responds: CNAC is owned by JD Byrider That is how they sucker you

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I was suckered into purchasing a car from JD Byrider in April of 2004. I was reminded repeatedly how they could help 'rebuild my credit with a good payment history.' NOT ONLY was the vehicle overpriced, I have put a few thousand dollars into repairs.

The loan company that began my loan, CNAC was not hard to deal with, however--within a few months, the car lot 'closed its doors', and then a new finance company began contacting me about 'facilitating the old JD Byrider accounts purchased from CNAC.'

MVP Finance first of all, cannot keep records---as I am repeatedly having to 'catch my account up'--no matter how many payments I have on record--I always seem to owe more. Whenever I call for a payoff balance on the account, its more than the time before. Yet, they have the audacity to threaten taking my vehicle away.

I dont understand their tactics, but I am sure that with all the loopholes out there--they can find a way to tell you what they are doing is legal. I have already paid three times more than the book value on this vehicle, and according to them, I still have 13 months more to pay.

If you ever even consider purchasing a vehicle form this place--PLEASE think again. Dont get caught in what I and so many others have been suckered into.

Mindy
Mount Juliet, Tennessee
U.S.A.

This report was posted on Ripoff Report on 08/22/2006 02:34 PM and is a permanent record located here: http://www.ripoffreport.com/r/JD-Byrider-CNAC-Finance-MVP-Finance/Madison-Tennessee-37115/JD-Byrider-CNAC-Finance-MVP-Finance-ripoff-dishonest-financing-Madison-Tennessee-207368. 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 UPDATE EX-employee responds

CNAC is owned by JD Byrider That is how they sucker you

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

Hi, I just thought I would let you know that CNAC is owned by JD Byrider. That is the ONLY finance company that they go through. This is how they can get away with In-House Financing which is illegal in many states. I would get with a lawyer and see what your states policies are regarding in-house financing. Normally they do not go into states where In-House financing is illegal, but it might be worth it to see in your state. You may want to also look into a class action suit against JD Byrider and turn them in to the BBB.
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