I've recently been made aware of a scam that's been originating from a car dealership I once did business with. At that time it was called Kars Yes, later I knew it to be Ugly Duckling and now, I've found out, it's called DriveTime.
I was not aware of the numerous complaints until I needed proof of their activities in order to purchase a home. Much to my surprise I found a ton of them. Also to my surprise I discovered how similar my experience with them was to so many others.
I was sold a Ford Van, and yes, it was extremely overpriced. Once all the paper work and talking was done, it came to about $25,000.00, actual blue book?"$8,000.00." And of course, that on top of the 26.9% interest. Naturally, my credit was a problem. I proceeded to pay $500 a month for the following one year and three months.
I was on disability and hence, my checks would arrive on a specific date. Well, what a coincidence, according to their computer this made my payment two days late. And to them, the entire one year and three months was considered late, and they then began to make harassing phone calls that they were no longer going to work with us in covering these late payments.
My wife and me decided to do a voluntary repossession and thus, we did. It didn't take them very long to get back to us demanding the remainder of the contract that was owed them. To the tune of $11,000 and this money they were demanding on the spot.
Okay, this occurred back in June of 1997, and to this date; the problem is still there haunting my credit. I found it so interesting as to why they change their company name so often. Now I understand a tad bit better.
Anyhow, I highly recommend that everyone be told to keep away from these con-artists. Even their very own employees report the horrors these folks do to people who need help with their credit. We are affectionately (?) referred to by the employees as, "Cockroaches."
These people must be put out of business permanently.
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