drivetime car company

drivetime car company BAD CREDIT REPORTING phoenix, Arizona

3rd of Apr, 2011 by User618560

I bought a car from drivetime in 2007 i had bad credit because i lost my construction buss. and had to sell all my trucks so i was looking for a new start. it was working for the first year but the 2nd and thrid year was bad for bussiness we moved back to calif from nv at a bad time work was bad, so my payments were bad, at first they seem to work with me but then customer service started to get real rude i mean very rude were i wanted to drive to AZ and whip there f*cken a**. so half way threw the 4th year payments were better but not on time cause of work 1/2 way threw the 4th year work picked up and i started to pay my payments within the same month i was due so i was now only 7-10 late for about 4 months then in out of 2009 payments were on time. i paid 650.00 in nov of 2009 then i paid 325.00 my reg. monthly payment then i got a call saying if i dont pay 2700.00 there comming to get my truck, i asked why they said i was behind 100 days i said show me how im 100 days late they couldnt, i was forced to pay 1200.00 in jan of 2010 to keep my truck. thats $ 2175 within 3 months. since nov of 2009 i have paid my payments on time and i still have my truck. 2 months ago i went in to buy a family car and the car company asked me about a charge off from drivetime i said WHAT i dont have one they then show me my credit repot and those dam pricks charged me off in jan of 2010. remember i paid 122.00 in the month of jan of 2010 and 975.00 the last tow months. i call them and said WTF they said nothing that the charge off was right and there not going to change it. oh the truck has never been repo and i still have the truck and i never got a letter of was told it was or going to be charged off so now every month i make a payment it reads charge off. i have since contacted BBB all CREDIT COMPANYS FED. TRADE COMM. AND NOW IM WAITING FOR THE CREDIT COMPANYS TO GET BACK TO ME BEFORE I RETAIN A LAWYER. WHAEN I CALL ONE OF THE CREDIT COMPANYS THEY TOLD ME MY CREDIT HAS SUFFERED APPROX 116 POINTS LESS BECAUSE OF THE CHARGE OFF SO I WOULD BE IN THE HIGH 600 RIGHT NOW IF IT WASNT FOR THESE LOW LEAVEL PRICKS, THIS IS GOING TO TAKE SOME TIME EVEN IF WHEN I RETAIN A LAWYER AND THEY AGREE TO FIX IT ITS STILL GOING TO TAKE 6 MONTHS TO CHANGE IT. THEY ARE RUDE UNDER TRAINED LOW PAID A**HOLES, DO NOT BY FROM THEM THERE WILL BE A PROBLEM. AGAIN MY PAYMENT HISTORY WAS BAD BUT I GOT BACK ON TRACK AND WHEN I DID IT SEEMS LIKE THEY DID ME WRONG WITH MY CREDIT REPORTING. BEWARE OF DRIVETIME

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Comments

4524 days ago by Oleo

My daughter-in-law recently purchased a 2003 Jeep Liberty from DriveTime which is not advertised as such but is a “Buy Here Pay Here” (BHPH) organization. The contract she signed did not correctly disclose what she would be paying in total for the Jeep but most all of the totals of interest, amount of financing, were off by as much as $5, 230.65. The only disclosures that were correct was the bi-monthly payment and the interest rate which if totaled makes all the other disclosures wrong. Nowhere in the paperwork she signed is there any disclosure that she must pay additional charges. The bottom line is she would be paying $28, 842.32 for an auto which is valued at around $8, 000.00 with 22.388% interest. That is; 277.33 payment X 104 payments. Until recently “Truth in Lending” requires most lenders to disclose most of the aspects of the loan/sale. Most buyers at the time of sale can’t calculate compound Interest— hence, “Truth in Lending”. However, looking at the regulations I see BHPH organizations somehow fell through the cracks and weren’t regulated. See; http://articles.latimes.com/2012/apr/21/business/la-fi-buy-here-suit-20120421 where specifically DriveTime and other BHPH organizations are being investigated by the U.S. Consumer Financial Protection Bureau-- article from the L. A. Times.
My question is, isn’t this a fraudulent contract and even though BHPH’s may not be regulated does this constitute fraud? If so, how expensive would it be to return the car and have this contract declared null and void? Researching DriveTime on internet there are many, many complaints about all aspects of this organization and a good reasons for not wanting to stay in this contract. In my opinion everything about DriveTime is fraudulent.
CHECK your CONTRACT-- Multiply your payment times the number of payments then add the disclosed total interest-- you may be paying some outragious amount.