JD ByRider
Ripoff find out what your getting into before you sign

This is just a warning to all those out there who may be considering buying a car from JD Byrider: look before you leap. I, like many, needed a car but I didn't have much of a credit history. I went to JD Byrider and looked into getting a car that day. Here's how it goes: They look at how much money you make, and figure out how much you can pay. They then give you a selection of cars to pick from based on this.

Here's where they get you. The value of the cars you get to choose from isn't anywhere near what they plan on charging you. JD Byrider itself apparently doesn't finance the car for you; they have a finance company ready to give you the go-ahead as soon as you pick a car.

So what it comes down to is this, on top of the actual value of the car, JD Byrider adds on its price so it can make its profit (which is normal). Then, the finance company who will actually borrow you the money also will charge you a hefty sum to make a profit.

The bottom line for me is that after it is all over (in about two and a half years), I will have paid over $12,000 for a eight-year old car, which in the local classifieds usually sells for around $2,000-$2,500. I make over $250 in monthly payments and only about $110 goes to what I owe, they pocket the other $140 (interest).

The funny thing is, when I asked the salesman how much I will be paying for the car, he pointed to a figure on the contract that was around $7,000. I figured that would be pretty steep, but my credit would be getting built while I made this purchase. If he had shown me the actual amount ($12,400, which I later found on the contract) I would've gotten out of my seat and just walked out that door. I would NEVER have approved of paying that much.

The car turned out to be a hunk of junk. I see cars in the classifieds years newer than mine selling for $4,000 and it just disgusts me that I let myself get in way over my head on this one. And there is no way out of it, believe me, I checked. So, if your considering going to one of these places because you don't exactly have perfect credit, make sure you know what your getting into before you sign.

Thomas
fargo, North Dakota

Company: JD ByRider
Country: USA
State: North Dakota
City: Fargo

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