Please include me in any lawsuit!!!
I to am a victim of Drive Financial. Even if one day late they constantly harass me with phone calls and they charge daily interest for every day it is late. I get paid every 2 weeks and my pay doesn't always fall on the due date, have told them this several times and tell them when I will pay and they still call every day, every hour from 8am til 9pm 7 days a week, including Sundays!
The contract I signed says after a 10 day grace period I will be charged a late fee and every time I explain this to their "customer service" representatives they say what I signed is invalid and that all simple interest loans have daily compounded interest. I have asked for a copy with my signature accepting this daily interest and have never received one.
I have never had a car loan with daily interest rates. I have been spoken to very rudely. The one time I did a check payment over the phone they took out more than I authorized and the only way I make a payment is on their website as a one time payment, I do not store my debit card information for fear that they will use it without authorization.
I tried to trade in my car last week, a 2002 Nissan Sentra I got in 2005 for $9000, so after 2 years of payments, guess what my pay off amount is, $9,000, the car is only worth $4,000 so can't trade it in without paying the balance. I am at 24% interest, I feel I will never pay this car off and it has been in the repair shop more times than I can count. I am trying to find a company that will refinance my car, but so far no luck.
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