YES, I fell into the same trap with Drive Financial like over hundred other victims on this site. The rip-off started with Middlekauf Ford in Plano, Texas. To make a long story short the truck had an internet sale for $14500 we ended up paying $17500 for it plus had to put down $3500. None of the down payment went towards the loan for the truck.
After searching and finding out how they got us the do the compound interest thing. This is very clever the longer you take to pay off the loan the more interest will occur. It calculates like this we have a $400 truck payment per month, at 21% interest and the rip-off compound we actually pay $215.00 towards the truck and $184.00 to Drive in interest. They also charge $17.77 cents after the 15 day of the late payment. So for those of you trying to figure out how and why on the charges this is it!
Drive financial has Caller ID; even if your number is private they can still see who is calling. I called 30 times in 1 hour until I spoke with Judith Lane... Lol I asked her was she the sister of Lois:) She was nice but everything was scripted, every question that required her to think I was put on hold. I tape every convo with drive as back up. I am going to leave some tips so u can turn the tables on Drive
Tips
1. Record all Phone calls
2. Call every day to get your payoff
3. Call every week and ask about your account
4. If for some reason you get behind on payments and they start to call and harass you, pick up the phone and ask the employee for his or her home phone number and tell them you will call them when they get home form work to discuss your account.
5. Stay calm at all times, even if they are being rude. Defuse the situation by asking them how they do it everyday-when they say what are you talking about reply by saying Drive makes millions per year and they only pay you pennies, you must be a good person
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