DriveTime Consumer Loan Complaint

Vehicle lease Problems when you are unable to pay

DriveTime Consumer loan department,

Vehicle lease Problems when you are unable to pay Arizona

I believe I was initially overcharged for my vehicle, it has since been repossessed because I lost my job & could no longer afford the payments.. The vehicle in question is a - ... At the time I signed the contract on the vehicle I was desperate & really needed transportation for work, school & to take my kids to & from school ... I really believe the cost of the vehicle was over priced at $8000.00 with interest the total came to $12000.00 approximately.. The value of this car at that time I bought it was no more than $1300.00, current value approximately $1000.00 Since the vehicle has been repossessed I have attempted to reach out to Drive Time multiple times with no success to discuss this matter. I just continue to get transferred around & told no one can help me or I 'm directed to call someone else.. I recently received I letter stating the vehicle was sold and I owe $9700.00 for a vehicle that is only worth $1000.00 per - - ... At $160.00 biweekly payments I made for 7 months approximate cost out of my pocket $2300.00. I really feel this company has inflated the cost of the vehicle and are attempting to get - times the amount for this vehicle from me & also from whoever they sold the vehicle to. I really feel I have been taken advantage of me as consumer ... I feel that without help from someone they will not sit down to discuss fair compensation I should pay for this vehicle, now that its no longer in my possession.. Can you please assist me with resolving this matter..

DriveTime customer in Arizona
Sep 12, 2015

* Source: CFPB Complaint Database

DriveTime response to complaint:
Closed with explanation

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