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CNAC - JD BYRIDER CAR BUYING PROGRAM NOTHING MORE THAN A PAYDAY LOAN SCAM! East Stroudsburg Pennsylvania
I purchased a 1999 Dodge Caravan from JD Byrider in January, 2007. The agreed purchase price was a little over $9000. I spent $1000 on the downpayment. Mind you the car had over 60,000 miles on it. The Blue Book was well below the agreed price. I had no choice at that moment, due to credit and mortgage obligations. Being a father of six, they saw a sucker coming. I had no choice at that point because I had to get to work. The agreed payments was $156 every two weeks which started in March. If you add that up, that would be $1000 down + 20 payments of $156= $4120. I called today to find out why I had not received a recent receipt and they stated that not only did they not do that any more, but my balance, which I knew was a little over $5000 was at $8175! I was told that interest accrues daily! At this rate, I will never get out of this loan and to top it off, the car has engine troubles and broke down on me two days ago. I have not been able to get to work and fear loosing my job if I do not get transportation.
CNAC is nothing more than a payday loan scam and I am hoping someone can contact the state Attorney General for all the customers being ripped off by this company!