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Report: #466780

Complaint Review: Drivetime - Las Vegas Nevada

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  • Reported By: las vegas Nevada
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  • Drivetime Decatur St Las Vegas, Nevada U.S.A.

Drivetime voluntarily gave car back ....got huge bill for more than car is worth Las Vegas Nevada

*Consumer Comment: You can't do that

*Consumer Suggestion: What does your loan

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I bought a car from Drivetime paid my bill on time every month had excellent credit with them. About 7 months later I lost my job so I gave them the car back because I could no longer afford it. Now here it is 2 months after giving them the car, I get a bill from a collection agency saying I owe them almost 10,000 dollars.... I called to find out what this is about since I gave them the car, was not in arrears and the car is in better shape than when they sold it ito me. She says I sill owe the balance of the contract (even though they have the car and have more than likely sold it to some other unsuspecting victim). I too am interested in filing a class action law suit. The car was sold to me for far more than what the car was worth. The money I paid each month until I gave the car back, actually paid the blue book value of the car plus some and they want more! Please do not purchase from them no matter how desparate for a car you are... it is not worth is!

Las vegas
las vegas, Nevada
U.S.A.

This report was posted on Ripoff Report on 07/01/2009 10:48 AM and is a permanent record located here: https://www.ripoffreport.com/reports/drivetime/las-vegas-nevada/drivetime-voluntarily-gave-car-back-got-huge-bill-for-more-than-car-is-worth-las-vegas-466780. 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 Comment

You can't do that

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

POSTED: Wednesday, July 01, 2009

Once you take out a loan on a car, you are reponsible for paying the loan back. You can't just return the car and walk away, you are still reponsible for the loan.

They probably took the car back, sold it at auction and applied the money to your loan. If it doesn't pay off the loan, you are still reponsible for the rest of the loan and that's probably what they billed you for. You owe it.

If you thought the interest rate was too high and you'd be paying off too much, you should not have agreed to and signed the loan papers.

They are doing nothing wrong, you owe the money you agreed to when you bought the car. Pay up!.

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#1 Consumer Suggestion

What does your loan

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

POSTED: Wednesday, July 01, 2009

contract state?

Most auto loans clearly state that "surrendering" the vehicle to the creditor is a voluntary reposession. When this happens the vehicle is usually sold at action and the borrower (you) is still liable for the balance of the loan.

Some outfits, go so far as to state that you are still liable for the balance of the loan PLUS the FULL INTEREST that would have accrued through the normal life of the loan.

So, what does your CONTRACT state? That's the key and is critical in determining if you have any legal recourse.

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