I used to work for JD Byrider/CNAC in the Lansing/Kalamazoo area and I can personally attest to the fact that everyone from the company "Vice-President" (Scott) to the sales people were stealing from not only their customers but from the company itself! The whole thing is a scam predicated on the fact that no one will give poor, working-class people a loan. I personally (as a finance manager) charged people 24.9% interest on loans that I knew were never going to get paid. For instance, we would take a 1998 Chevy Cavalier (the Byrider flagship - hahaha!) that we paid $3000 for (if that) fix it and charge for the parts and labor, which added about $1,500 more to the list price. Then we added a straight $5,000 to the list for our "credit program fee". So now you have a car being sold for $9,500! On top of that, we would, of course, charge interest fees (25%) and that means that after you pay the whole thing off, you've paid about $12-13,000 (don't forget your late fees) for a $2-3000 car! The whole thing is outrageous really. I will be the first to admit that I lied, coerced, defrauded, and pressured customers to sign our contracts. It is only under duress that most sane people would logically sign a contract like that, right? What a scam. I only wish I had thought of it. I will also add that I was fired after a year of service for developing a conscience about my career choice. Car dealers suck, but Byrider turns your stomach.
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