• Report: #292301

Complaint Review: Drive Financial Services

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  • Submitted: Mon, December 17, 2007
  • Updated: Tue, December 18, 2007

  • Reported By:Wash. District of Columbia
Drive Financial Services
1010 W. Mockingbird Lane Dallas, Texas U.S.A.

Drive Financial Servicedrive Financial Services 75% of first payment applied to interest !!! are you crazy Dallas Texas

*Consumer Suggestion: Welcome to the world of financing.

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just purchased a car,made first payment on time no problem. receive bill for next payment okay everything going as planned look at my balance only $115.00 minus from balance. now I'm thinking what the hell is going on I call them up go through this long thing to verify me and they tell me that the first payment is always applied to interest what, 75% you must be crazy.If someone is filing a suite against these people I'm in, even if just as a witness no way these jokers should be allowed to RIP PEOPLE OFF!!!!!!!!.

Jesse
Wash., District of Columbia
U.S.A.

This report was posted on Ripoff Report on 12/17/2007 04:15 PM and is a permanent record located here: http://www.ripoffreport.com/r/Drive-Financial-Services/Dallas-Texas-75247/Drive-Financial-Servicedrive-Financial-Services-75-of-first-payment-applied-to-interest--292301. 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 Suggestion

Welcome to the world of financing.

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

That is the way it works. Not just with Drive, but all cars, homes, etc.

Go online and look up an amortization calculator. Plug in your loan amt, interest rate and term. You will see the table that shows how loans are amortized. You can see how much gets applied to where each and every month of your term.
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