Complaint Review: JD Byrider - CNAC

I've read quite a few of these rip-off reports and I concur... JD Byrider is a wolf in sheep's clothing. Now it is a given that people buying a car from this company have had or currently have some credit issues, myself included, but to be blantantly misled is wrong. I bought a 1991 Chevy Lumina Minivan in 2001. It only had 66,000 miles on it and appeared to be in good condition. I did test drive it and it did seem at that time to ride ok.

Fast forward to December 2003. To date I have replaced the transmission, the heater core, the alternator, the starter, the battery terminals, the brakes (front & back), the water pump and the radiator. This has all occurred in a 9 month span and to make things interesting, the engine went out on it back in October.

I contacted JD Byrider who gave me the run around. I asked them how I could accelerate/reduce my pay out because I only had 3,000 left on it to pay. I spoke to 4 different people who gave me 4 different answers. I was finally told that they couldn't make that decision because they "sold" my account to another company. When I asked the name, address, telephone number and name of the account rep, I got nothing. I was told that I couldn't deal with him directly, but that the Byrider rep would email the "new" company rep and pass my information along.

This process took a month with me calling back daily to find out what was going on. I have never missed a payment. I have not stopped paying on the vehicle yet, even though I can't drive it. I finally went to the Better Business Bureau with my complaint and proof! all of a sudden I was sent a letter from Byrider giving me the name, address and telephone number of the company who bought the loan.

To make a long story short, the company is EMCC in New York and the offer they gave me was: I pay another $1000 in payments, pay them $1,000 up front and surrender the car for them to resell at auction. They were serious and that is why I still have my car. I can get an engine put in for $2,000 and still have my car. If I pay them $2,000 AND give up my car, what do I have?

One last thing, I was mailing my payments in anywhere from 1 to 3 days BEFORE the payment was due and you know what they are doing? They are holding the payments an extra day or two which applies more of your payment to their interest and less to your principal amount. This usually is only a few dollars, but it is still wrong. I caught them doing this on 3 separate occasions and again I went to the BBB with a complaint. Within 2 weeks I got another letter from Byrider saying that the amount they collected (due to the unreasonable holding of my check for 2 days after my payment was due) was reversed out of their interest amount and applied to the principal amount.

KEEP YOUR RECEIPTS, CHECK YOUR BALANCES EVERY MONTH!!

For those of you who needed a car, I understand why you bought it here, but if you care about your friends, family members or co-workers who may be in the same boat, steer them clear of JD Byrider.

D.
Milwaukee, Wisconsin
U.S.A.