6 comments

My friend bought a truck from Drivetime in Richmond, VA, and lost his job not soon after. He voluntarily turned it back in thinking he would not have to pay anymore payments and just loose what he already paid on it.

Drivetime took the truck and sold it to someone else but my friend continues to make the payments which is $200.00 a month. I find this unbelievable that Drivetime can do this. When he is done with the payments he will have no truck or vehicle of any kind so what is he paying for?

I can't believe this is legal. Supposedly Drivetime can do this. Can anyone help me. Thanks.

Had an Experience with Drivetime?

Write a review

Comments

Terms of Service
Post Comment
Cancel
Anonymous
#501878

I purchased my 2002 CHRY VAN from DRIVETIME in dec 2008 today is 6/24 2012 twice I had major repairs on the van,so they deferred my payment 2 mos each time,so I could pay for the repairs,Im just now finding out that the interest acrued on those deferred payments totaled another 1500.00 plus still oweing those payments here I am over 4 yrs later, still oweing them 6002,00. everyone you talk to at Drivetime will give u a different answere to make u happy,do urself a favor and stay far away from them as u can!!!

Anonymous
#501876

I purchased my 2002 CHRY VAN from DRIVETIME in dec 2008 today is 6/24 2012 twice I had major repairs on the van,so they deferred my payment 2 mos each time,so I could pay for the repairs,Im just now finding out that the interest acrued on those deferred payments totaled another 1500.00 plus still oweing those payments here I am over 4 yrs later still oweing them 6002,00

Anonymous
#372494

Solution: Bankruptcy Chapter 13

Anonymous
#353158

they repoed us for being 23 days past due on the first payment and wouldn't let us pay it!!!

Anonymous
#351399

Quite honestly, I can't believe that you or your friend thought they could just turn the car in and wipe out the remaining balance. I feel bad that your friend lost their job, but that is part of the problem with consumers, they don't understand a valid contract! Wake up!!

Anonymous
#343125

Unfortunately it is legal. He signed a security agreement with a total amount he would pay. When DT sold the car and it was less than that amount originally agreed upon your friend is still responsible for the remaining balance.

You May Also Like