Drive Financial - Drive Financial: Auto Financing

Posted on Saturday, October 8th, 2005 at 12:00am CDT by 90db5152

Product: Auto Financing

Company: Drive Financial

Category: Business, Finances

Drive Financial: Auto Financing

October 7, 2005

Drive Financial: Second Chance Auto Financing.

North Stemmons Way

Dallas TX

Re: Predatory Lending, Misapplied payments, deceptive bank practices, possible breach of contract.

If you have bad credit and in need of auto financing, Drive Financial is the worst place to go for auto financing.

I brought a 2001 Honda Civic DX (powerless) from a Brooklyn-based auto dealer called Plaza Auto Mall in December of 2002 for 13,723.04. I put $3500.00, which means that I was financing the car for 10,223.04. Because my interest rates is set at 23.95%, my monthly payments are 295.16. The term of my loan is Five years. The retail installment contract that I signed had a Chase Manhattan Bank Letterhead. The creditors name is not in the upper right hand corner of the box. At the bottom, the creditor-seller did not even sign the contract. This contract is misleading because I can't even report this finance company. I don't think this Finance Company is even allowed to lend money with interest in the State of New York. I received a payment book that only covered 1 year of my loan. I started mailing my check in March 2003 when they said that the check was never received, which cause a late fee to be applied. So, naturally, I made the payment over the phone. This transaction cost about 10.00, which means that I paid over 200.00 in telephone check payment fees over the phone. Even that method didn't work. Drive Financial never encouraged mailed check payment. I personally think they have stocks invested in Western Unions: Quick Collect. In that year, we couldn't make on-line payments or auto-mated telephone payments. It was either check by phone, quick collect, or mailing in payment. Every time I request statements on my loan (like what is the principle, finance), they never send it to me. In fact, this bank never sent me a statement. On May 20th, I called at 1:30pm to make a payment. According to my financial records, I had 331.25 in the account up to the 31st. They claim they never received the payment. This is why on June 9th when they received the payment for 2500.00, 236.28 went to interest. On June 27th I sent a check for $1000.00. 58.43 went to interest. Next check was received on August 18th, for 3500.00. 136.58 went to interest. I requested that these payments not go to interest. I also requested statements so I could look at payment history. They never honored my request. I can't mention the amount of time they have called my place of employment to obtain a payment that they in fact, received. They call your place of employment before they call you. Every time you call to make a payment, the customer service representative ask you for whimsical information like, how many miles on the car, Place of employment with address and phone number, your telephone number, your social security number, the name of insurance on the car. I could understand name and address, but all that information is unnecessary for making a car payment.

My car was totaled on the August the 16th. Laurie Wossner from Liberty Mutual called Drive Financial on August 26, 2005 for a 10-day pay off. She also stated that she need the Letter of Guarantee which is a document that states if we pay off the full amount, we can get the title and lien release. Liberty Mutual need this because without the lien release, they cannot salvage the vehicle, thus making the claims process longer. After she received the letter of guarantee, on September 6, 2005, she issued a check to Drive Financial for 681.40. I called on the 10th to see if they had received the payment. She sent the check to the address that they originally instructed her to send it to. I called last week. They said that they didn't receive to payment to the 23 of September. They said that because they didn't receive the payment within the 10 day time frame, that I would owe 7.00 dollars. I was very desperate. I asked them, how much does it cost to make a payment over the phone. They said it would cost 7.95 cents to make a payment. I ask them how long would it take to final this account. They said it would take 10 days. Drive Financial will never send the lien release. What worse is that I have no way of seeking legal representation. I called Drive Financial on 10/07/05. I also did called Liberty Mutual which means we had a 3-way conversation. My account was routed over to the litigation department. I laughed. I asked myself, why is this account in this department? I spoke to someone name Seneca, a rude and very abusive man who said, "if your credit wasn't bad then you wouldn't of had to come to this bank." He said this while Dennis from Liberty Mutual was on the line. This is very harmful cruel and insulting. In my 25 years of living on this planet, this was the worst possible statement anyone could say. Having bad credit in society is not socially accepted.

Up until now, I have not received a statement. This makes it very hard to obtain legal action against this finance institution.

I am seeking the amount of interest paid on the loan and finance charges that were misapplied to my account. I am also looking for my down payment for my vehicle since in my opinion this finance company is not allowed to do business in New York.

Anyone who is interested in starting something please email me. This company should not be allowed to lend money with interest. thank you.


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cfb2dc81, 2007-10-04, 01:21PM CDT

my husband an i became disabled and we fell behind on

our payments, we have been struggling to keep them up,

and the company informed us that they would put the 2 months we were back aug and sept to the rear and our next

payment is due the 23 of october and this was recorded now

they supervisor mr dixon called and stated he denied this

request and told me to get a full time job and was very nasty to my husband, this is not the first time. i want to

know who i can go to above him and now i am not gonna have

the money so they are gonna take my car.

not fair, that is fraud, no one told us it was under review.

b6e43950, 2008-04-21, 12:59PM CDT

I am also a drive financial customer, current at that. My husband recently lost his job and we are running 2 weeks behind on our car payment. They are calling 9 times a day and today a woman named Tasha and her customer service rep. buddy Donald yelled at me and told us they were going to take our car. I tried to explain that our daughter was extremely sick and that we had spent all of last night in the emergnecy room. My husband was in a nearby town getting her anti-biotics as I spoke to them. I explained that as soon as he got back we would be wiring the money to them. Tasha, wanted to know why we weren't using our checking account. Like that is any of her business. We had to borrow the money in the first place. She then said that we were going to collections, mind you we are 18 days past due! I asked her what does that mean, she hung up on me. I then called back and spoke with a Donald. He was very rude, very very rude. He then said that collections meant them coming to get my car. I said I am not even 30 days past due, and he said it didn't matter they don't have a grace period. I would love for them to come and get my car, because I know that standing in front of the judge and them telling him we were 18 days past due, would make them look bad. Being unemployed and having a sick child but still managing to get my car payment made by borrowing the money, I thought was a good thing.

These people are horrible, they take people with troubled credit so they can treat them horribly. I would not recomend this place to anyone. And they don't refinance. So you are stuck with the interest rate until you can get somebody else to take your loan. And they told me they would give me a bad reference so that I would have to deal with them. Buy-here pay-here places are easeier to work with. If I could do it over, I WOULD NOT HAVE GONE WITH DRIVE FINANCIAL!

ce0d812c, 2008-05-07, 03:47PM CDT

what can we do about these people messing us around like this?

f70a3623, 2008-05-12, 04:38PM CDT

My father in law has a car financed through this horrible company. Since my husband and his dad has the same name, they have been harassing my husband since my father in law is behind on his payments. My husband and his dad do not have a good relationship, so they do not talk. For some reason, my FIL used my husbands name and cell phone as a reference. Drive Financial is now calling my husband at least 2 times a day, 6 days a week. He keeps telling them they have the wrong guy, but they don't seem to care. They even came to our house looking to reposses the car. We told them where the car is located at, but they have made no attempt to retreive it. They just keep calling my husband, harrassing him and telling him they will keep calling until my husband tells his father to call them. We have left a message with my FIL, but of course he is not going to call them back. We have alrday told Drive Finacial that we are going to advise our lawyer of this harassment. The CSR won't even let us talk to a manager. Please be very careful when offered to finance a car though this company.

98128741, 2008-05-18, 11:22AM CDT

I'm trying to help my parents resolve a situation with Drive right now. She had purchased a car in 2003 using Drive Financial. From the beginning it was a nightmare. It would take weeks and weeks for Drive to post a payment that she had already mailed. In some instances, she sent her payment registered mail and had received the green post office card letting her know that Drive had picked up the check. Yet it would still take more than a week from the once they received the check to apply it.... charging late charges and interest along the way.

Mom got tired of this and went on automatic payments. She did this in December 2005. January 15, 2006, she noticed that Drive had not taken the money out of her account. She gave it another day or two and still no payment had been taken. She called Drive and was told by customer service that that was normal -- it often takes a month to get the direct payment set up. Mom offered to send in a payment for January and was told not to. She was told that by sending in a check, it would mess up the situation. There was no problem, they just extend the last payment date by one month to make up for the January payment. Mom thought all was well.

The contract originally had an ending date of April 15, 2008. The one month extension would have the new final payment date of May 15, 2008. Right around May 1, she got a call saying that she is now 31 days past due. No she's not. She said that Drive had extended it one month because they didn't take out the January 2006 payment. The customer service person said that wasn't the case.

It's now becoming a complete hassle. The amount they want to close out her loan and let her get her car title is almost twice what she owes. Mom walked through everything and explained that she shouldn't be charged for late charges and interest when they were the ones who missed the payment and she offered to make a payment, but Drive told her not to. The snotty customer service rep told her that she didn't care, she either payed whatever they wanted or she never saw her title. She also made a comment about how she was certain she wasn't going to let some money stand in the way of getting her title.

Obviously, these people don't know my mom. Mom would take something to the Supreme Court over $10 if she thought she was right. That must be where I got my stubborn side from and why I decided to become an attorney. Doing research, I've found that there have been a very substantial number of suits.... including class action suits filed against Drive for their actions. Well, they are about to get their next call from an attorney when I call tomorrow. Let's see if they're going to allow a little money stand in the way of them not getting sued once again.

948a1c81, 2008-06-10, 07:32AM CDT


do any of you know that before you sign that contract on that high ass interest that you are paying that you can actually negotiate with the dealership to get it down???

do you know what a simple interest loan is???

do you know that the rudest customer service reps come from the actual company DRIVE FINANCIAL and not from the outsource offices ???

i know it seems like we're all a bunch of heartless brutes here to embarass you into paying ... but honestly... SOME OF YOU DESERVE IT...

Its so true... when someone owes you money, and its money you need because someone else is waiting on it for you ... wouldn t you get bitchy if they signed something stating that they will pay you on the 3rd of the month, and every month they want to pay you on the 9th... or the 29th ... its not very good business going or coming is it ? because you're having to pay the person you said you would pay ahead of time, and then behind it, you're still not getting money from the person who promised it...

aside from that... why do so many ppl think that drive cannot do without them ... amazingly... i get cussed daily because i ask ppl... so why were you past due... FIRST THING OUT OF THEIR MOUTHS I AM "ONLY" 9 DAYS PAST DUE ... ahhhh... ummm... if you have a grace period wouldn't it mean that you are not losing anything for those 10 days? Simple interest loans are loans that do NOT have a grace period because each day more of what you pay goes towards interest than to the loan principle, and it gets worse if the account is extremely past due.

i mean its like you ppl think that agents don't have bills to pay as well, and honestly... on the other hand... SOME OF THE ILLITERATE SNOT NOSED BUBBLE HEADS that work for DRIVE need slapping around, i've done 3rd party collections ... THERE IS ABSOLUTELY NO REASON FOR AN ACCOUNT WITH DRIVE FINANCIAL TO BE TREATED IN THE SAME MANNER THAT A 7-10 YEAR DEBT IS HANDLED...

we're trained to be customer service first, collectors second at DRIVE, howeveeeer... seems that goes poof, as soon as we hit the production floor in some cases.

my suggestions, always keep track of your monetary history, either take it off the website, or have it faxed to you, if you want you see your loan balance drop significantly, attempt to get at least 2 and a half months current, that way your payment is coming straight to principle and not to interest. take advantage of AUTOPAY, its free to yourself and automatic... even if you have to set up an account for your car note... after all, you drive the damn thing... everyday sometimes 2, 3, times a day... wouldn't you like to know its yours??

believe it or not, some of us "account managers" don't care about your credit... being realistic, but we do care about the fact that you're human just like us, and if our parents, children, siblings, husbands, wives, etc etc were hospitalised, we would want to be with them, paying to make sure they are comfortable, or if we had a really bad month and had to miss a payment on our mortgage, we would expect the bank to understand, or would we? because you see, we can't move the house, when the bank comes to foreclose on me... i would be itching to pay ... think of life in that way... we have to- as agents... many of us get in trouble with (overlords) for not telling a 6 day past due customer 'WELL YOUR ACCOUNT WAS DUE 6 DAYS AGO.. WE WANT THAT PAYMENT NOW!!!' simply because it sounds absurd to us too... but its our job... and don t come with the whole crap that oh, thats the best i can do... too many ppl have a negative opinion of the agents who work in call centers because of past telemarketers and or collectors, check the website... YA NEED A FRICKKIN DEGREE TO WORK HERE ...

i once had a man call me an 'ineducated black girl' because i told him i can calculate what his interest was on his last payment for him in order to explain why his principle hadn't moved ...



ah well, i guess all i am is a stinkin debt collector who has no heart and can't do any better at a job... yeah me... who speaks two languages and lived in europe for quite some time paying for my own schooling off the job that i had at 18...yes... believe this is the best i can do ... since everybody is demonstrating some degree of human behavior by saying its us the agents that are screwing you, not the fact that you screwed yourself at jump when you signed a contract that you couldn t handle at a dealership that FINALLY accepted your offer of credit knowing that you were capable of doing shit but messing up your own credit before that.

anyway... enjoy your day ppls, my suggestion, rebuild your credit as best you can, keep the accounts current, do not let them pass 10 days ... if you do THAT AIN T OUR FAULT... ITS UR OWN DAMN FAULT!!!

b3d7334c, 2008-07-17, 03:57PM CDT

I would NEVER recommend Drive Financial to ANYONE. I'd rather go to JD Byrider, for crissakes!

For the last three months, I've been between 3-7 days late with my payment. This company has called me, at MINIMUM, 25 times in one day, almost all between 6 and 9pm, and the MOST they called in one day, FORTY SIX times in the period of THREE hours. Non stop. Call my home number. Hang up, call my cell phone. Never leaving a message, and not being there if I answer.

Just sheer, outright PHONE HARASSMENT.

This past winter, they called my home every half hour, EXACTLY, all night long, starting at 9:02PM. When they were CLOSED!! Nobody there when I answered. Nobody there when I called. I finally had to unplug all my phones.

I am filing a complaint with the State of Ohio.

Do they REALLY think that people will pay faster because of harassment? That is just freaking ignorant. If I had the money the day it was due, I would pay it.

Never again. EVER. I'd rather walk.

59f34023, 2008-11-14, 09:52PM CST

I am a teacher and I became very ill and had to take a medical leave. When I saw that was going to have aproblem with my payments I called for help. They did help, however it was not to my advantage. I continued to fall behind. I refused to answer their call because they were so rude. Now that I finally have a job. I called to tell them that I would be able to start paying the 1st of the next month. The supervisor told me that wasn't good enough I need to get a payment in this month because he said by the 30th of the month the account would charge off. He went on to say that if I could not make a payment I needed to call him back the next day to let him when I was going to make a payment or let him know where to pick the car up at. When I called back the next day to let him know I was going to make a payment the next week. He told me I needed to make a payment TODAY or let them know where to pick up the car. When I reminded him what he said he denied it. I feel like this is so unfair. All they are going to do is sell the car and make me pay the balance. Why can't they just wait 17 more days and get a payment. Why can't they have a little more compassion, the economy is bad and everyone is feeling the crunch.

09f9ff31, 2009-01-15, 09:55AM CST

As a automotive dealer, I signed up for financing with Drive. We are a family owned business that still does a lot of business with a hand shake. I have financed 1 auto thru this company and was about to finance the 2nd deal when I found out about the true caracter of these people. This Company should be closed down and the owners/company heads should be held responsible for their actions. Do not plan on doing business with these people by taking their word for anything, because what they tell you, they will not back up. I feel sorry for any person that has to do business with these people. The government should investigate these people and put a stop to their bogus operation. Bill Harmon

9289a157, 2009-02-02, 03:30PM CST

I am currently or I guess as of this morning a former customer of Drive. I live in Florida. Unfortunately, my husband and I had to go through this company in 2003 because our credit was bad from medical bills that were never paid by United (another gripe). We bought a 2003 Chevy Trailblazer. Our payment was $618.42 per month. We were doing really good until I started having a hard time working because of my health. We owned a condo that wouldn't sell plus the house we live in all on a police officer's salary. Now with four kids. We became behind on our car payment but Drive always got their money at some point. We dealt with the five million phone calls per day with their stupid automated thing. We did the arrangement where you can put payments at the end of the loan and be brought current. One time I made an arrangement with one of the supervisors to do this. My husband and I made the payment one day early. I thought that this is what they wanted. The next day I started getting calls from them. I called back and spoke to some jerk of a man (actually no one could be called a real man that spoke to me like he did so we will say that he is biologically male)He asked me where my payment was. I told him that I made a payment by phone the day before and tol him about the arrangement I made with the supervisor... He said "Sure you did" and it all went down hill from there. I called the supervisor and he told me that because it was made the day before the payment was due they applied all of the money to late charges. He told me that people are under the assumption that they can save the late charges until they pay off the vehicle and that isn't true. Needless to say I didn't have the money to make another payment so we fell behind again. We usually would make a payment by phone with a check post dated to come out of our account when the money was there. They have taken the checks out early to make them bounce, taken multiple payments out in one month among other things. My most recent problem happened on Jan 15. My husband called to make a payment to them. He made the payment plus their stupid charge to do it over the phone. He used our debit card. They drained out out bank account. The girl put in the comments on our account that my husband approved the transaction. He approved the one payment but not what she took out. When he called them they said sorry you approved the pmt and wouldn't fix it. The girl told my husband to go to our bank and dispute it. So I did. I filed a report with the dispute department. They told me that it could take up to 45 days. They sent my e-mail stating that I did not authorize the payment to the loan company's bank. Apparently the loan company which knew by their records we only disputed the difference between the amount and the payment told their bank just to give all of the money back. They didn't even keep the payment. My bank told me that I had to dispute the full amount they couldn't to partial disputes. No one bothered to call me to tell me so that I could go make the payment via Western Union. Drive didn't call and my bank didn't send me notification of the outcome of my investigation. This morning my car was repossessed. When my husband called Drive they tried to say my bank stopped the transaction. They told us that our loan had been charged off and that the only way we could get it back was to pay cash for it or get our bank to finance it. Obviously, this isn't going to happen because I don't have ten thousand dollars and my credit is so bad now that no one will finance me. This was so wrong. I should have been told about the payment. I filed a complaint with my bank. I have filed a complaint with the Federal Trade Commission on Drive. If they get enough complaints they sue companies for their behavior. They just sued my mortgage company for their business practices and got them for $28 million. Just because my credit is poor doesn't mean I need to be treated like crap. Half the people that work for these companies don't pay their bills on time either and have problems. I realize it is a power trip thing. These low class companies need to be regulated better.

f1aec403, 2009-02-10, 02:14PM CST

My situation was very similar to yours. 2005 Nissian Altima purchased it in 06 my notes where $450/mth with me putting $2500 downpayment. As I got along in the contract I could not afford the insurance however all ways on time with carnote never late working on credit. I wrecked the car in 07 contact a body shop that ripped me off. He thought I had insurance so they first gave me a quote of $8000 then I told him that I would pay out of pocket he changed it to $5300. I told the shop that I would let them fix it but only if they let me pay them in installments. I was making $500 install payments/bi weekly, now insurance with car seating at shop, along with $450 carnote. I understood that it was my fault for drinking without insurance. So the shop agreed to installments I finally had the remaining of the money and was heading one morning to pick up the car and the shop refuses to give me the car, the car was just parked in the front. He said that there was a lien place on the car and that they sold the car in auction. I told him that the shop or financial never contacted me regarding the lien. I called Drive and wrote letters disputing and the where pretending to help me which leaded to time wasted. I am not sure how much the car was sold for at the auction but cant be much since I only owed them $3000, yet Drive sign the paperwork for the lien and auction and still bills me for a $15,000 car which is on my credit. I asked the shop for my money back that I had already paid them and he told me know and I told him that I did not give him the ok to immediately work on the car since I didnt make a decision on if the car was going to get fixed there. Them idiots fixed the car in the week not only took my money but also put the money that I already paid them and said that the money went towards storage fee. Drive refuses to take the amount off my credit, I am not looking for them to remove the entire amount but that car was sold so I should owe a difference of that right

8fc7d9c5, 2009-02-13, 03:07PM CST

I recently purchased 2005 Toyota Sequoia. I have made 5 payments so far. It all went in interest and only $21.90 applied to my priciple balance. I called Drive Financial and their rep. indicated that Drive Financials determines where to apply the payment. I never heard of this. I have basically paid $2500 in interest in 5 months already. Now, I don't know what to do. I am thinking of not paying anymore and go repo. It seems that I got into some mess now. My interest rate that I signed was 24% but they are applying all of my payment to the interest. My payment is $500 a month. My credit is so bad, I can't even refinance it. Any advise.

Amir Khan

5c2a3b25, 2009-02-21, 04:29PM CST

Wow. All these people are complaining that they can't make the payments that they AGREED to make. And now they are mad because the lender wants their money? Sheesh. This is the reason this country is in the shape its in.

986b8f09, 2009-07-10, 08:45PM CDT

I purchased a 2006 Dodge Caravan which drive finicial financed.I am always on time with my payments.The total amount for my vehicle was $10,000 and my intrest rate was at 19 percent.The total amount came to a little over $20,000. I have made 18 payments which have total up to $8,656.20.How about not even a thousand dollars have went to the car.Each time i make a payment it is basically disappearing.I somehow still owe over $18,000 on my car.When i called to get them to explain the lady was so rude i had to hang up so i wouldn't step out of character. They have now changed there name to Sauntanders Finicial. Now i understand why! I pray i can get finaced through someone else.They are the worst finaced company ever!!!!!

84bc2520, 2009-12-18, 09:19AM CST

I am really scared, now that I have heard all of you all stories. I just bought a car through Drive and I got a high interest rate. I wonder now reading this if I should purchase the car.

fdb53df8, 2010-08-26, 11:03PM CDT

I totally understand... I got phone calls from 8am till 9p.m, I told them come get my car if they know where I live and they want it bad enough they can have it but I won't pay them any money they will pay me... last time I was on the phone I asked them if they had any available jobs so I could learn the art of being rude and obnoxious to others the same way they were to me and that if they wanted to call me any further for harassment go right ahead as my attorney will be knocking on their door from 8am till 9 pm demanding the money for harassing me day and night 24/7.. they still call but I don't answer anymore...I figure they get paid when I do just like they get paid when they do.

They are a heartless company who doesn't give a care about unforeseen circumstances in peoples lives let alone the economy.. another one lender to stay away from is GMAC....Just fyi.

aab5c897, 2011-07-18, 02:55PM CDT


Wendy R., 2012-12-06, 06:10PM CST

Start a class action suit.

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