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Report: #1354434

Complaint Review: Bridgecrest formally known as drive time - Nationwide

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  • Reported By: Lee lee — Temple Hills Maryland USA
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  • Bridgecrest formally known as drive time Nationwide USA

Bridgecrest formally known as drive time Ok I financed a 2007 Chrysler 300 back in nov of 2013 I paid on time for almost 3 years and then I could no longer afford the vehicle my father agreed to take over the loan so I tried to get my name off the loan since the car would no longer be mines Nationwide

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*WELLLLLL after my father paid for it for almost 6 months he said he no longer wanted the vehicle because the interest rate was to high and THEY ROBBED ME and I agree so now the vehicle is sitting on my credit and my fathers WHICH IS ABSOLUTELY WRONG! Why couldn't they take my name off the loan my father agreed that he would take over the loan CAN I GET SOME HELP OR ADVICE FROM SOMEONE PROFESSIONALLY PLEASE HELP !! AND TO THE WORLD*

This report was posted on Ripoff Report on 02/06/2017 06:27 PM and is a permanent record located here: https://www.ripoffreport.com/reports/bridgecrest-formally-known-as-drive-time/nationwide/bridgecrest-formally-known-as-drive-time-ok-i-financed-a-2007-chrysler-300-back-in-nov-of-1354434. 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 Consumer Comment

Suggestion..

AUTHOR: Robert - (USA)

POSTED: Tuesday, February 07, 2017

Here is what you need to do...continue to make the payments or pay off the loan as per the LEGAL agreement you signed.

You signed a legal agreement that stated you would make a set payment, for a set amount of time.  There was NOTHING in that loan that said you could just get your name off the loan, or stop paying if at some time you couldn't(or don't want to) make the payments.  The reason does not matter.  The fact you made 3 years of on-time payments doesn't change this.

The interest rate is high because when you got the loan you were considered a "high risk" because you had not shown you were able to handle credit.  The reason they won't remove your name should be obvious.  Just look after 6 months your father no longer wants to make the payments.  Had they taken your name off, you are saying that you want to leave this debt only with your dad?  Well aren't you a good child.

So if you fail to make the payments, they have the legal right to reposess the car.  If they reposess the car not only does that go on your credit, but they will still come after you for the balance of the loan after they sell the car at auction.  If you fail to pay this they can(and probably will) sue you in civil court.  So if  you think this Interest Rate was high, just wait until you attempt to get your next car. 

If your father co-signed for the loan, he also made a legal agrement that stated that if you fail to make the payments he will.  If he fails to do that just like the repo will show up on your credit..it will show up on his.  Just like you could be sued..so could he.

Oh and this is how EVERY finance company works.

 

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