Drive Financial They say I am over 2,000 dollars behind in payments. But make payments every month, Dallas Texas
I get phone calls every day. At least 5 or 6 calls a day. They say that I am over 2,000.00 behind in my payments. That can not be right. I make a payment every other week or sometimes just once a month. I have had my loan for a little over two years and is seems that my balance is not going down. I think my balance is around 16,000. I paid around 18,000. That just doesn't seem right. The phone calls that I get, they try and use all types of numbers. Sometimes it is with all zeros, sometimes it is with all nines. I know that it is them, because my son answered it one time and they told him who they were. He just hung up the phone. I would think that if I was that far behind, they would of came and got my car. They know where it is. They are very rude and when you try and make any kind of arrangements with them, they are ok at first, and think that they will not bother you anymore, two days later they are calling. I wish I could find a place that would re-finance my car and get me out from underneath these people. If I knew that I was going to have this much trouble with them, I would of never signed my contract and went with someone else. I would be glad to join anyone who is filing a lawsuit against them. I think they are just con artists out for your money. I would tell anyone who is buying a car. Look to see who your dealer is going through, and if it is Drive Financal. DON'T DO IT.
CLC
Deland, Florida
U.S.A.
2 Updates & Rebuttals
Been There Done That
Ashburn,Virginia,
U.S.A.
Try This
#3Consumer Suggestion
Tue, June 24, 2008
Ok I had the same issue with them and when I went to pay off the loan it was the same amount as when I started but I was so happy to be rid of them I didnt care.
That might not be far off since you have been payin on it for 2 years thats actually pretty close but I dont know the term etc of your loan. Remember interest is always paid first in the early stages of the loan. I would suggest if you have a close relationship with a local bank ask them to prepare an amortization schedule for you (Drive will NEVER prepare this for you). This should help u as a guide. one thing you have to look out for is they laden you with charges, fees etc and they are pretty high and this eats away at ur balance pretty quickly.
Also u said u sent a payment every other week...is this a partial payment or full payment. You have to realize these are not necessarily the smartest or most helpful people all they care bout is the $...They are afterall a second chance lender. I would be cautious bout sending them money out of the norm...it confuses them.
Nikki
Coconut Creek,Florida,
U.S.A.
Are you allowed to make payments every other week?
#3Consumer Suggestion
Tue, June 24, 2008
If you are making payments every other week, are they (2) 1/2 payments to equal a whole? Do they allow for this? Here is what could be happening.
You make 1/2 payment. It is either put into a side account or posted to your principal balance. Then you make your other 1/2 payment. Even if they are posted to your principal balance, two half payments usually do not equal a whole unless they allow for this. They are merely extra payments to principal with no payment to your regular monthly payment. So even though you are making extra payments, you are not making your regular payment so late fees and late interest are tacked onto your account.
Gone are the days when we could just opt to make payments every two weeks to pay off the loan early. It must be part of your contract or they do not equal a whole payment.