Anonymous
San Jose,#2UPDATE EX-employee responds
Sun, September 14, 2008
I was in the Automotive Business for over ten years as a Finance Director, Sales Manager and General Sales Manager. I pretty much have seen it all, that is why I got out of the business. When the economy slows down, dealers do more "creative" methods to get deals bought due to tighter lending by the banks. Unfortunetly I am very familar with Drive Financial and the Bob Lewis Organization (no longer owned by Bob Lewis, now Del Grande). They indeed are a very corrupt group of individuals for the most part (although there are of course a few good apples.) Thats probably why they had to sell the dealership, due to the fact that they were out of trust with their own Captive Lender. This ment that a representative from the bank had to stay there every day, so when they sold a vehicle. They immedately had to provide a check to the Flooring Company (the dealer doesn't own the vehicles, except in certain circumstances, they usually are allowed 10 days to pay off the vehicle once the deal is funded by the customer's bank.) When a dealer is about to close it doors (and file Bankruptcy as they did) the flooring company is obviously scared that they won't get paid so that is why they did what they did. There is quite a bit more about this organization that I could go on for days about. In regards to your predictament, unfortunetly I can tell by the lender that you probably have very poor credit (no offense). Drive Financial (soon to be called Bank of Santander), is basically the bottom of the barrell in terms of lenders. No one wants to send them deals unless all options are gone. Two reasons, the funding is horrible (it takes forever to get your money), and their bank fees are ridiculous. Probably the highest in the industry, so the dealer profit is diminished by sending them a deal. I actually assist people who are in situations that you are in, and try to remedy it. I will not promise that your situation will be one of those that qualifies to being the process, but it sure doesn't hurt. I know the in and outs of the business and know what is needed to scare the lenders and dealers. If you would like to further this please email me at (((ROR redacted))). I will defiently look into your situation and see if there is a way to get you out of that vehicle. I am not an attorney but do have four on retainer. Best Wishes... CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.