Complaint Review: JD ByRider - Fargo North Dakota
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- Author Not Confirmed
- JD ByRider Fargo, North Dakota U.S.A.
- Phone:
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- Category: Auto Dealers
JD ByRider ripoff find out what your getting into before you sign Fargo North Dakota
*UPDATE Employee: Collection Manager
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This is just a warning to all those out there who may be considering buying a car from JD Byrider: look before you leap. I, like many, needed a car but I didn't have much of a credit history. I went to JD Byrider and looked into getting a car that day. Here's how it goes: They look at how much money you make, and figure out how much you can pay. They then give you a selection of cars to pick from based on this.
Here's where they get you. The value of the cars you get to choose from isn't anywhere near what they plan on charging you. JD Byrider itself apparently doesn't finance the car for you; they have a finance company ready to give you the go-ahead as soon as you pick a car.
So what it comes down to is this, on top of the actual value of the car, JD Byrider adds on its price so it can make its profit (which is normal). Then, the finance company who will actually borrow you the money also will charge you a hefty sum to make a profit.
The bottom line for me is that after it is all over (in about two and a half years), I will have paid over $12,000 for a eight-year old car, which in the local classifieds usually sells for around $2,000-$2,500. I make over $250 in monthly payments and only about $110 goes to what I owe, they pocket the other $140 (interest).
The funny thing is, when I asked the salesman how much I will be paying for the car, he pointed to a figure on the contract that was around $7,000. I figured that would be pretty steep, but my credit would be getting built while I made this purchase. If he had shown me the actual amount ($12,400, which I later found on the contract) I would've gotten out of my seat and just walked out that door. I would NEVER have approved of paying that much.
The car turned out to be a hunk of junk. I see cars in the classifieds years newer than mine selling for $4,000 and it just disgusts me that I let myself get in way over my head on this one. And there is no way out of it, believe me, I checked. So, if your considering going to one of these places because you don't exactly have perfect credit, make sure you know what your getting into before you sign.
thomas
fargo, North Dakota
This report was posted on Ripoff Report on 06/01/2002 01:34 PM and is a permanent record located here: https://www.ripoffreport.com/reports/jd-byrider/fargo-north-dakota/jd-byrider-ripoff-find-out-what-your-getting-into-before-you-sign-fargo-north-dakota-21944. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 UPDATE Employee
Collection Manager
AUTHOR: Dawn - ()
SUBMITTED: Thursday, October 17, 2002
Consumers have to understand that with any loan there are finance charges. To think otherwise is rediculous. Unfortunatly, consumers that have had slips or falls in thier credit history have to pay to repair thier credit.
JD Byrider and CNAC (thier finance company) offer solutions to those people. JD Byrider gives a 12 month or 12,000 mile waranty with every vehicle they sell. They also tend to offer financing of repairs after the waranty is expired, to help keep the customer in reliable transportation.
I have seen the abuse that some of these vehicles have gone thru as well. We have had cars sold for a year and the customer calls says they have piece of junk car that broke down come to find out that over that whole year the oil was never changed and the engine siezed.
I am not saying that some good people don't get a vehicle with problems. That's the chance you take when you buy a used vehicle. I have however seen first hand what this compnay does to help resolve any problems the customer may be having.
If I had credit problems I wouldn't hesitate to go to JD Byrider. It's that or a buy here pay here and you'll never re-establish your credit that way.
Yes you will pay,but they tell you up front that you can go anywhere else and find the same car for less. When you go to Toyota, do they put the price of the vehicle on the window along with the finance rates? No. If you expected not to have to pay finance charges then get your head out of the sand. This is a stepping stone company so you can go and get the new car you've been wanting.
The program they have works if the customer works it. If you pay late and you don't take care of your vehicle then you won't benifit from shopping at JD Byrider.
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