Comments for DriveTime Isn't the Enemy. Lack of Information Is!

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Thanks for sharing!
by: Justin
(Editor in Chief)

Wow Debbi...Thanks for sharing. It's really nice to have visitors take the time to share positive stories.

When you mentioned reading poor reviews about DriveTime it got me thinking that there are a lot of good companies out there that have what looks like lots of poor reviews and they should be avoided.

In reality however, the only time most people take the time to write about anything is when they are unhappy.

Ultimately, DriveTime is an excellent company and that's why I choose to affiliate with them.

Don't get me wrong I'm sure that there are plenty of legitimate issues that may have happened in the past or possibly may happen in the future.

Ultimately, they sell thousands upon thousands upon thousands of vehicles each year and it's not 100% possible to keep 100% of those customers happy 100% of the time.

Thanks again for sharing...
Justin
kpowell
by: Anonymous

i was thinkig of buying a truck from drivetime just want to make sure not buying vehicle with problems
Not too bad
by: Anonymous

Hi all, I think any car that is purchased from a used car dealership has its potential problems. As Debbi stated, you must ask questions!! Okay, so I have been with DT for 9 yrs, 4 vehicles...my first two vehicles were totaled in accidents but the replacement process was great getting me into another vehicle. The last to vehicles (370 a month)I just recently paid off, and I must say, I had no issues with the vehicles other than regular wear and tear; brakes, water pump, tires...all over time. I did have some problems making pymts over the yrs but as long as you let them know, they will help you out...I think I received more than 6 deferments. also, if payments are lat, they will hassle you and your contacts/references like crazy!! Anyways, I am now a DT Champ and on my way to purchase another car...No money down, low apr, lower payments, extended warranty, and the lot is my oyster. I suggest that you don't go there and let them SELL you a car/truck, go there to BUY what you want....be sure to utilize the vehicles at other locations, they can bring them down to the local office. Good Luck .
Lack of Information is the Enemy
by: S Hillard

I am glad Debbie thinks she had a good experience but nothing in what she wrote really contradicts the specific claims that are made about drivetime.

She states that she was expecting 29% interest but got 24%. All that shows is she had really low expectations about what is a fair amount of interest to pay for a car that is 6 years old. It doesn't refute any opinions that the interest is high or that the amount of interest paid is often the same amount or higher than the loan principal.

She states that Patrick encouraged her to pay off early. Which was very smart of Patrick to do because you can pay the loan of early and get no benefit from it. Most companies you pay off a loan early they recalculate the amount of interest owed so you end up paying less for the car than was originally estimated. No such benefit with drive time, they will take your payments, apply to the interest owed first. So they get close to the very same amount they would have but the get it sooner. That is not a fair or a good thing.

What is true is that drivetime is a great organization if you really believe you can not do better (i.e. you have gone to other dealers and have not gotten approved or better interest rate quotes).
It is also good for improving your credit but you can not be misled by the sales people. You have to be really smart to buy something that is under what you can really afford.
Also, it is good if you have no intention of wanting to get out of the contract early. Your timely payments will clean up your credit and then you can do business with a real business instead of the leach that is DriveTime.
Intent NEW
by: Anonymous

The issue isn’t about the age of the car, it’s about the condition of her credit. She’s borrowing money to purchase a car and that’s the price of the money. There are many subprime companies that do not recalculate interest on payoff such as Capital One. Again, it’s about knowing what you are getting in to.
A little more than I can handle NEW
by: Anonymous

I thought that I would be able to handle the payments with 24% that's a lot of money and for a used car. I was going to keep the extended warranty and I thought this will be too stressful to deal with. I'll continue to save and catch the city bus. If someone can survive the high interest rates and pay triple what the car is worth then this is the right place for you.

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