- Report: #368670
Complaint Review: Drive Financial - Nationwide
-
Author Confirmed
Why?
Drive Financial
http://www.drivefinancial.com/ Nationwide, U.S.A.
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Drive Financial Ripoff Mongers This company has ripped me off for more than 2 years Dallas Texas
I financed an automobile with this company 30 months ago. I financed 18K with payments of 479 per month. After paying more than 14K With no missed or late payments, I found that I still owe 13K on this loan. The company refuses to refinance or negotiate with me to lower the amount owed. I feel totally helpless.
Swyatt241
Augusta, Georgia
U.S.A.
Swyatt241
Augusta, Georgia
U.S.A.
2 Updates & Rebuttals
Financer
Pawtucket,Rhode Island,
U.S.A.
and must pay exactly on time
#2Consumer Comment
Fri, September 12, 2008
good point from the previous poster, also, must make all payments on time...if you are late, (even though you may not be charged a late fee or reported late to the credit bureaus), it will change the whole amort schedule......
Nikki
Coconut Creek,Florida,
U.S.A.
Check an amortization calculator.
#3Consumer Suggestion
Mon, September 01, 2008
This must be your first financed car at a high interest rate. Go online and find an amortization calculator. Input the loan amt, interest rate, term, etc. Have it show you the spreadsheet. You can see where your loan is supposed to be after 30 months, provided all payments are made ontime. You will see that you can conceivably pay thousands of dollars on a car loan without the principal balance being reduced by nearly as much. The lower your interest rate, the better it looks.
