- Report: #152033
Complaint Review: JD Byrider - CNAC - Bedford Ohio
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JD Byrider - CNAC
jdbyrider.com Bedford, Ohio, U.S.A.
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JD Byrider - CNAC Ripoff, We paid $12,000 for a $3,500 car. Please don't let this happen to you. Bedford Ohio
In the fall of 2002, about a year before we were married, my husband purchased a 1997 Ford Escort from JD Byrider of Bedford, Ohio. At the time, he knew he wasn't getting a bargain, but he accepted the terms of the offer because he was desperate and needed a car.
Today, I am taking a check for $2,500 to the JD Byrider office so we can finally pay off the loan. We have been paying CNAC $136 every two weeks since that time. When my husband purchased the car, it had a blue book value of around $3,500 - $4,000.
The purchase price was $6,995. I just added up all the money we've spent on this vehicle over the past 3+ years (just on payments, mind you, this figure does NOT include repairs) in addition to the $2,500 I will pay them today, the total comes to more than $12,000. Twelve thousand dollars for a car that was worth less than $4,000 to begin with and is worth about $1,500 now.
Please, everyone. I hope that at least one person reading this will take my advice. Stay away from this company. You have other options. Save your pennies and buy a $500 car from a local auction. Even if that car breaks down in two months, at least you'll know it was paid for. Don't let yourself get ripped off the way we did.
Katy
Cleveland Heights, Ohio
U.S.A.
Today, I am taking a check for $2,500 to the JD Byrider office so we can finally pay off the loan. We have been paying CNAC $136 every two weeks since that time. When my husband purchased the car, it had a blue book value of around $3,500 - $4,000.
The purchase price was $6,995. I just added up all the money we've spent on this vehicle over the past 3+ years (just on payments, mind you, this figure does NOT include repairs) in addition to the $2,500 I will pay them today, the total comes to more than $12,000. Twelve thousand dollars for a car that was worth less than $4,000 to begin with and is worth about $1,500 now.
Please, everyone. I hope that at least one person reading this will take my advice. Stay away from this company. You have other options. Save your pennies and buy a $500 car from a local auction. Even if that car breaks down in two months, at least you'll know it was paid for. Don't let yourself get ripped off the way we did.
Katy
Cleveland Heights, Ohio
U.S.A.
1 Updates & Rebuttals
Kevin
Orlando,Florida,
U.S.A.
Legitimate Lenders loan against Book Value-JD Byrider Does Not!
#2Consumer Suggestion
Tue, August 02, 2005
Good advice Katy. Save your money and pay cash or try legitimate lenders to finance your purchase. JD Byrider does not use a book value when approving your loan. They loan you exorbinate amounts above book value because they own the loan. It does not matter to them that you are extremely upside down on this loan for 2 to 3 years- usually longer than the car stays running. There are many lenders out there who are eager to write loans for people with less than perfect credit. Find one and pay attention to your loan amount vs. kelley blue book value. You have options-don't feel like you are forced to go buy here pay here--JD Byrider.
