DriveTime Consumer Loan Complaint

Vehicle loan Managing the loan or lease

DriveTime Consumer Loan department,

Vehicle loan Managing the loan or lease Tennessee

I purchased a - Chevy HHR -/-/2013 from Drivetime for --. I ca n't remember the exact price because I do n't have the paperwork with me but it was in that range and I do have the paperwork. At the time I did not realize that this price was way too much for this vehicle. I admit I did not do my research. Be that as it may, some how I find myself 3 years and 4 months into a 6 year loan and I still owe over - dollars on this car. This car in excellent condition for trade is only valued at $ -- $4300.00. How is this fair? I 'm in the military and my family has grown since the purchase of this car and we really need to be able to trade or sell this vehicle for a larger one but we are upside down and trapped so it is hopeless and impossible. I 've have talked to several dealerships, private sellers and auctioneers, and even drivetime themselves to see if anyone can do anything for me and all of them have said it 's not possible with what you owe on the vehicle. I even tried to see if drivetime would allow me to trade to them for a larger vehicle and just roll the remaining balance into the new loan and they said I just owe too much. Which is crazy cause I owe exactly what they told me to pay for the vehicle. I 'm just lost and at my wit 's end and hope you can help me remedy this situation. I 'm not looking for anything extravagant or any extras I just want to be treated fairly so that me and my family can have the proper sized vehicle.

DriveTime customer in Tennessee
Aug 15, 2016

* Source: CFPB Complaint Database

DriveTime response to complaint:
Closed with explanation

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