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Report: #251058

Complaint Review: Drive Time, DT Credit - Phoenix Arizona

  • Submitted:
  • Updated:
  • Reported By: Powder Springs Georgia
  • Drive Time, DT Credit 4020 E. Indian School Rd. Phoenix, Arizona U.S.A.

Drive Time, DT Acceptance Loan Sharks bite is worst than a shark, they take advantage of everyone who walk through thier door. Bad Credit, Good Credit or Excellent Credit - you are a victim. Georgia, Phoenix, Arizona

*Consumer Suggestion: Your lack of research was the true enemy

*Author of original report: Drivetime

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I was given a job opportunity with a local organization which lead me to "Drivetime" to obtain a vehicle "truck" as a job requirement. My decision was the by far worst decision I have ever made. These guy take the best reward for screwing consumers. I felt that I had no choice but to accept the vehicle with high hopes to support my family by obtaining a new job that required me to have a truck. Prior to seeing Drivetime I was debt free of credit cards, car payments and unneccessary debt.

Their interest rates are sky...sky high for a 677 credit score indivisual. The vehicle is $9800 negative equity which means $9800 over priced. I tried to get rid of this vehicle to keep the hounds off my back, but found that I am $9800 upside down on the loan. I can not get that vehicle traded base on its value. I tried to return the vehicle, but DriveTime Corp said that I am stuck with vehicle. Returning the vehicle after 50 days = bad credit. The vehicle have traction problems and a two pay cycle (bi-weekly) that is require of me to pay. The payment schedule is to stiff and does not allow for exceptions. These guys are out to rip off poor (mainly African Americans) indivisuals.

Dealerships are located tackfully in rural areas that is heavy populated with African Americans. I have entered into a contract with the devil. I feel like my life have been plague with an event that will take 115+ payments to end this bad dream. Please someone wake me up from this traumatize event that I can not endure.

A class action suit will be necessary to detour this Corporation actions and business practices.

Robert
Powder Springs, Georgia
U.S.A.

This report was posted on Ripoff Report on 05/29/2007 06:25 PM and is a permanent record located here: https://www.ripoffreport.com/reports/drive-time-dt-credit/phoenix-arizona-85018/drive-time-dt-acceptance-loan-sharks-bite-is-worst-than-a-shark-they-take-advantage-of-251058. 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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#2 Consumer Suggestion

Your lack of research was the true enemy

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

POSTED: Tuesday, May 29, 2007
You made some key mistakes in buying your truck:

1. Your credit score. Did you find out your score before or after you made your purchase? 677 is a better than average score and you could have attained financing just about anywhere with a decent interest rate. Drive time preys on customers with bad credit or who don't know their credit score. If you know your score and securing financing in advance you can avoid places like this all together.

2. Know what vehicle you want before you arrive at a car lot and research it. Web sites like KBB and Edmunds will give you a great starting place for price. Although local marketing conditions will ultimately determine the price it should not be too far from KBB estimates. This way you can tell if a car dealer is trying to sell a vehicle for thousands more than what it is worth. Additionally check out consumer reports to determine the vehicle's quality and estimated reliability.

3. Once you find the vehicle you want make sure you get a carfax report on it if it is a used vehicle. Sometime however previous damage is not reported on carfax so take the vehicle to a reputable service center for an engine diagnostic and body and frame check. This will cost you some money but it could end up saving you thousands of dollars.

4. When you get to the finance office make sure you read every scrap of paper thoroughly. If you don't understand something ask, and don't move on until you are satisfied with the answer. Remember to get copies of everything and never sign a blank sheet.

5. Although Drive time my rip off a higher number of black people in your area they are equal opportunity rip off artists. They do not target minorities they pray on the uninformed and the desperate.

I am in the military and one of the basic tenants of warfare is: know thy enemy. If you arm yourself with the facts no one can take advantage of you. Remember, knowledge is power. I hope this has helped you and I hope that your next car buying experience is a pleasant one.

Best wishes, Evan
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#1 Author of original report

Drivetime

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

POSTED: Tuesday, May 29, 2007
Now they want my deed or contract on my house so that they may compare the records at the County Court House concerning my residency. What! who have ever heard of this? DriveTime have gone uncheck and needs some correction. I am not behind on payments and if i was I am putting my house up for colaterial. DriveTime is type of mofia.

Attorney Must Help! Please Help!
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