I went to purchase a vehicle from Drive Time. They approved me for a loan with $900.00 down.
I went ahead and paid it as they requested as well as added and paid my insurance on the vehicle. All that I needed to do was have my company fax a document that I was indeed employed with that company. After the request was completed they called me back and told me that they had made a mistake and they needed an additional 300.00 down and I had to wait until I received my next paycheck stub. When I told them to cancel the loan all together, they said I would have to wait to receive a check in 5-7 business days.
I also had to call my insurance company and void the transaction.
Now I am out over 1,000 dollars for at least a week and no vehicle to show for it. Needless to say the inconvenience with the insurance swap.
Review about: Drivetime Loan.
Monetary Loss: $14.