DriveTime Consumer Loan Complaint

DriveTime Consumer loan department,

Vehicle lease Taking out the loan or lease South Carolina

On -/-/2015 I purchased a vehicle from drivetime. I did not have a lot of credit of which there was an old - bill in my credit report that was not paid due to a divorce. There was also hospital bills that I had been paying on. I did supply them with - rental companies that I had rented from and never paid a late charge. At that time I needed a vehicle and I feel as if they took advantage of me. After time to reflect on the transaction the following is a huge concern. 1- Car is only worth $5000.00 in good condition and they sold it to me for $9900.00. That is in excess or 75 % increase. 2- I did not understand that my payments would be bi-weekly. Most places you pay once per month. 3- Drivetime added an additional $3900.00 into my loan for other items -Drivetime powertrain protection plan @ $2800.00 - - - @ $590.00 - - - - - - I was never taken through my contract line by line. I was told what the paper was, and a brief explanation, then told to sign. While they did explain to me what


$ -Above are the major items that I feel was not right. In addition I also see that due to my need of obtaining a car and being a first time buyer, they took advantage of me and charged me a ridiculous interest rate. If they would have called my previous rental companies, they would have seen a good track record. Because I did not have a good experience with this company and after a much thought it is more than evident I was taken advantage of. I will be returning this car to drivetime by the end of this week. I will have paid - bi-weekly payments, on time, not due again until -/-/2015.