Like many Americans during this recession I was having financial problems. Fortunately for me I hadn't hit rock bottom, or I too would have become a victim of the poor credit predator J.D. Byrider. My present vehicle is on its' last leg. It has over 255,000 miles. It runs nice and looks good but needs about $2000 worth of work. (no A/C an Arizona must, no heat, a window doesn't roll down, and small radiator leaks) the $2000 is more then I wanted to invest in a 1992 Buick. Last month I put $300 worth of work on her. The car may be only worth about $800.
Since my car was still running I hadn't reached the desperate mode of having to have a vehicle. Because it wasn't a do or die situation I was able to walk away from J.D. Byrider's sharks, shaken but unshaved. I felt that I could put down about $1500 (not counting my Buick) and could afford $250 per month on a used vehicle in the under $5000 range.
I went to several lots in the area and I found several automobiles that I thought fit my criteria. Then I ventured onto a lot owned by JD Byrider. I saw a 1999 Buick that really caught my eye. Since it was after hours and the lot was closed I went home to check the Kelley Blue book value(s) of the vehicle. It was in my price range. The next day I went back to the lot and met with a sales person named Erika Alcantar. I asked Ms Alcantar what was the asking price on the vehicle. She advised me that J.D. Byrider works differently then the traditional dealerships. They specialize in helping people re-establish their credit. We must first take a credit application to determine the price of the car.
I thought that this was ridiculous and left the office. Still I really liked the car so I decided to do their on line application just to see what would happen. A couple days later Doris called about my online application. I asked her about the price of the car. She advised me that I needed to come in to discuss my credit report before she could give me the price on the automobile. My credit score is not where it should be so I reluctantly agreed to come in. I was thinking that if the price was right and if the car had less then 100,000 miles I would take the vehicle.
Before I went to my appointment I stumbled on the Rip-off Report website. I read report after report on how people who I felt had fallen on hard times had been taken advantage of because they needed a vehicle. Most seemed desperate which at that time separated them from me.
By the time I got to my appointment I was at 70-30 of walking out if anything sounded wrong. Doris was out of the office. I met with Ms Alcantar again. Again I asked what the asking price of the car was. She couldn't tell me. Since I hadn't driven the car I asked her how many miles it had on it. If it was more then 100,000 I wasn't going to be interested anyway and would have walked away.
It was then that she began to give me her corporate spill again. You have to forget about everything you have learned about buying a car before. We first do a complete credit report. We don't judge our customers. Based on the information we recommend a vehicle based on what we feel they can afford. She explained that they were interested in helping people re-established their credit. She asked me if I was interested in re-establishing my credit or just buying a car? She told me if I just wanted to buy a car then they (JD Byrider) could not help me. I told her that I only was interested in buying a car. I explained to her that I had worked in credit for ten years and learned that places like this aren't credible reporting agencies. As a credit analyst we would routinely discount medical and small car lot reporting agencies because by industry standards places like these seldom report when someone pays on time but are quick to report if someone is late.
I asked her again what was the price of the car? She stated that all of their cars are from the $7,000 to $11,000 price range. I advised her that at the low range the Buick is priced $2,000 more then the Kelly blue book value. She went with her spill about how all cars come with a warranty which I guess is passed on, along with high interest rates for bad credit, to the consumer.
Finally, knowing that I have a line of credit at my credit union, I asked her what would be the price if I came in and paid cash. She claim that they would not sell the car straight out for cash again stating that they are about trying to help people re-establish their credit.
Somehow I didn't believe Ms Alcantar. I just walked out of the office. I feel that J.D. Byrider is a predator preying on those who have fell on hard times. They are willing to sell a $5000 automobile for $7000 plus what ever interest rate that they think that you can afford. I am fortunate that my 1992 Buick with 255,000 miles is still running. I am more fortunate that I stumble across a website like Rip-off Report. It helped me escape the vicious jaws of death of a creditor shark. Hopefully my experience will help save others.
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