Drive Financial Service
Ripoff Simple interest loans

I would like to first say that i truly understand where all of your complaints come from. Drive has made my life a living nightmare. I would never have agreed to this dealership if I had known what they were like. First most or all of us that are dealing with them are on what they call a simple interest loan, which seems to mean that we pay our interest first, and not what we actually borrowed. So that means that they can put the money towards the interest first. Fair, no i don't think so because the car dealership that i went to never explained that to me. I also researched that on simple interest loans there is no deferment, so when they tell they can, they really do not have to defer any part of your loan.

Where we all are having the problem is that drive uses predatory lending practices, which means they are going to say and do whatever is necessary to get you financed. Did you all know that we have the right to ask the dealership what our credit score is before we sign a piece of paper, did you know that the dealerships can get you a lower rate, but the higher the rate, the more the dealeships will make off of the consumer.Us which means that we as consumers need to read more carefully what we sign, and who finances us. The term is called the BUY RATE, that what we as consumers must ask our dealers to give to us in writing, and yes this is our right as a consumer.

Buy rate is what we need so that we can go somewhere else to find financing, because our ratings were not as bad as we may have thought, but know your score when go in so they cannot make a fool out us anymore. There will probably never be a civil lawsuit, but we can become more informed of what we as consumers must do. The lawsuit thing has spreaded around since and nothing has been done. I want us to make a difference by calling dealerships and letting them know that Drive is using predatory lending practices, we will tell other consumers not to buy cars at your dealership, word of mouth can do wonders, thats how our fore fathers and mothers achieved such break throughs. So if you tell one person and so on and so on, after awhile Drive feel the affect, that without consumers, you have no business. And we will have the last laugh.

Company: Drive Financial Service
Country: USA
State: Texas
City: Dallas
Site: drivefinancial.com

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