I have read on here about others who have had bad experiences with JD Byrider. I realize that I signed a contract with a company to buy a car. I had bad credit so I felt I had no other choices. Had I not have panicked when my other car quit, I could have found some cheap car that would be paid for now and not stressed out about the car I purchased from JD Byrider.
Bottom line, the company preys on people who have bad credit and are desperate to get a car. The cars are not in great shape and they are way over priced. It is a upside down loan from the beginning. When I got my car I was going down the road with air conditioner running and the car just died... I had to re crank the car. Now I have had problems every since and the transmission is going out. I have a 2006 car with over 100,000 miles and over $9000 left to pay. Upside down car loan.
The company is making money on interest rates and charging people with low incomes and bad credit. Sure I signed a contract but just like a payday loan shark or any other company that does business this way, it should be against the law. There should be better regulations in place. The only way to get out of this is paying it off quick before car breaks down completely and then selling it.
Pay down car enough to refinance loan for a better car at a regular dealership... Or filing chapter 13. If you return car then they threaten to sue you for 25% of your pay each payday. If you try to make payment arrangements, they harass you. There is no way out. Maybe totaling the car? Still you would be stuck with the balance owed. Best to just file chapter 13 if possible and start over. Hopefully the economy will pick up enough now where jobs can be more secure and you can have a fresh start.
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