J.D. Byrider - CNAC Financing Repossessing of car before complete downpayment was made ripoff Charlotte North Carolina

I was looking for a dealership program that could help me to rebuild my credit, require a low down payment and had dependable cars.

I was directed to J.B.Byrider after being turn down by other dealerships due to part time employment and minimum downpayment.

I went to J. D. Byrider and they confirmed they could approve me with just a $300 down payment. At that time I did not see anything on the lot I wanted. They are new to the city and had minimum cars for sale. I was looking for a SUV.

I was told this was all they had and would not have anything else until these were sold and they went to the auction to buy more to replenish the lot.

I continued to watch until they had a particular vehicle I was interested in.

A month later they had a vehicle on the lot I liked and wanted. (SUV) I went in an reminded them I had been in a month earlier and was back with the downpayment and ready to purchase. They found the paperwork submitted for approval. The original salesperson was out that day. Another salesperson helped me.

Never did they once mentioned that there was more than $300 needed for the downpayment. They kept emphasizing how they had a great program for people with problem credit, their maintance program, customer satisfaction rating, etc.

I gave them my $300 downpayment and waited for the paperwork. After a period of time they told me they could not sell the vehicle that night because they had received that vehicle from another car dealership and it had not been transferred into their system yet through the servicing dept (although it was sitting out front on their lot for sale).

This was on a Thursday and told me to come back the next day which was Friday. I left them with my deposit and came back the next day for the vehicle.

I waited for the paperwork for me to sign and they told me they had a computer problem and to come back on Monday to sign the final paperwork. They put a dealer's tag on the vehicle and I drove it home.

On Monday I returned and after waiting about 30 to 45 minutes they finally came out and got me and carried me into a room to sign the paperwork by CNAC Financing.

He informed me tht he was from CNAC the financing company that does the financing for Byrider. He informed me that he was going over the paperwork with me and would be taping the session.

At this point we begin to go over the paperwork. When we got to the payments parts he informed me that the Original downpayment was $1300 and that my $300 was applied towards that with 3 payments of $333.33
which was to be paid over my next three pay periods.

Never was this explained in the beginning. He also sad there was no grace periods and if you were late repossing process would start the next day.

We completed the paper work and I left. Before the payment was due the CNAC finance person begin to call and ask reminded me of my payment date.

The next week was my first downpayment scheduled. I made the payment and received my receipt on time.

Unfortunately the next week I was laid off of one of my jobs. I was unable to make the next scheduled payment and went in and talked to them about the layoff. They informed me that normally they would take possession of the vehicle right away but agreed to give me another week to get the payment in.

I made the payment but it was a day late. I begin to get harassing phone calls from CNAC and he told me that I was a liar, a devil, and that I was going to hell for lying to him to his face. I went in to make my payment and they wanted to talk to me.

I went back into one of the rooms and the manager told me that his Board of Directors wanted him to take possession of the car. They did not have a grace policy for late payments.

I told him I understood but due to the layoff it had thrown me behind. He reminded me I had another payment due in three days. He assured me that if i was late with this one they did not want my money but the vehicle.

I was not able to make the third payment on time and I begin to get harassing phone calls again. This time I fired back and told them I knew I was late but they knew the circumstances why. I had come in and talked with them. He told me to bring the vehicle in.

The following a week a gentleman by the name of Charles Warren called me and said he was with CNAC and wanted to set up payment arrangements with me. I told him I had been laid off one of my jobs this was the reason I was late. He told me no problem we could put the payment at the end.

He ask me if I was in possession of the vehicle or was someone else. I told him no I was. He asked me my address and said he would overnight a new contract for me to sign the next day at my home.

I ask if he could fax it to my job. He asked me where I worked and where it was located. I told him. He said no he could only send it to my home and it would be in the evening hours. (I realize now I was talking to the reposseror).

I said ok and thank him. Needless to say they repossed my vehicle from my job the next day.

I called CNAC to make sure they had the vehicle. They told me they had repossed the vehicle. I asked if I could get it back or how much it would take to get my vehicle back and they said I could not get it back.

Mickey
Charlotte, North Carolina
U.S.A.