DriveTime is definitely ripping off consumers. They do buy the cars at fleet auctions of rental cars & restrict their costs paid to no more than $6000.00 per car. Then the price is doubled, they add any costs of repairs (mostly cosmetic, just to get the car running off the lot) and then charge interest rates of 17% to 30%. The $6000.00 car will end up costing the customer $20,000.00 or more!
They know most people are not able to maintain the $200.00 to $300.00 bi-weekly payments but if they can sucker you in by getting a large downpayment (to lower the interest rate a miniscule amount) or get the title to your trade-in car, they only have to get a few payments from the consumer to pay for the price of the cheap car drivetime bought at auction. Anything above that is pure profit for the overpaid incompetent executives.
This company is screaming toward bankruptcy or just folding up and disappearing, leaving any customers with worthless cars and no legal recourse. Every consumer needs to call the ATTORNEY GENERAL CONSUMER PROTECTION offices in your state. The number is listed in your phone book. It is easy & thay want to hear about thieves like this. Their job is to make businesses like this keep their promises or pay dearly if they don't. Drivetimes business practives are abusive and violate trade practices.
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