In the fall of about a year before we were married, my husband purchased a 1997 Ford Escort from JD Byrider of Bedford, Ohio. At the time, he knew he wasn't getting a bargain, but he accepted the terms of the offer because he was desperate and needed a car.
Today, I am taking a check for $2,500 to the JD Byrider office so we can finally pay off the loan. We have been paying CNAC $136 every two weeks since that time. When my husband purchased the car, it had a blue book value of around $3,500 - $4,000.
The purchase price was $6,995. I just added up all the money we've spent on this vehicle over the past 3 years (just on payments, mind you, this figure does NOT include repairs) in addition to the $2,500 I will pay them today, the total comes to more than $12,000. Twelve thousand dollars for a car that was worth less than $4,000 to begin with and is worth about $1,500 now.
Please, everyone. I hope that at least one person reading this will take my advice. Stay away from this company. You have other options. Save your pennies and buy a $500 car from a local auction. Even if that car breaks down in two months, at least you'll know it was paid for. Don't let yourself get ripped off the way we did.
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