I filled out the Drive Time online pre-approval form from the Drive Time website. Within 2 days I recieved an email from them saying I had been approved for a car loan with a $500 down payment...I also recieved a call from a sales person there confirming the same and inviting me to go online to look at the inventory and choose which car I wanted. From that day forward I began to recieve calls from all over the country from loan offices, car dealerships, finance companies, auto insurance companies, title pawn companies, ect. trying to sell me a car or give me a loan for the same. Come to find out, the online application does not even go to the local dealership but to a processing center in Phoenix, where it is sold to numerous companies to solicit you! We are talking detailed info like ss#, address, phone #'s, banking info, job info, salary....everything you fill out is all over the country in minutes! I would recieve calls on my cell and home phone as late as 8:30! (Because stupid sales people on the west coast have no clue that when it is 5:00 there it is 8:00 at night on the east coast, and they just want to sell)
But finally, to cap it off, all the info you give them online means nothing-when I went to the dealership to look at a truck, you have to fill out all that paperwork AGAIN 'cause the local dealership is not linked up to the processing place in Phoenix, so I did. [continued below]....
........and the $500 down payment I was approved for did not exist, I was then told I qualified for an auto loan for as little as $2000! While I was ranting about it all, there was another customer there screaming about the same thing! And the truck I had picked out was a 2003 Ford F150 with 117,000 miles and they asked $16 3000 (cash price, not financed) and it had a Blue Book value of only $6900. If financed through them on a 3 year loan, that truck would cost me just over $20,000 when it was paid off!
People, PLEASE do not buy a car/truck from this company, and do not fill out any paper work for them. You will be sorry!