Vehicle loan or lease -- Managing the loan or lease -- Complaint #14758916
Complaint Overview
Complaint ID: 14758916
Company: Drivetime
Product: Vehicle loan or lease
Sub-Product: Lease
Issue: Managing the loan or lease
Sub-Issue: Problem with the interest rate
State: Florida
ZIP Code: 32812
Date Received: 2025-07-19T12:00:00-05:00
Date Sent to Company: 2025-08-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am filing a complaint against XXXX/DriveTime regarding a predatory auto loan for a used XXXX XXXX XXXX ( XXXX : XXXX ). The total loan amount is {$45000.00} for a car that is only worth around {$7000.00}. The APR is 20.679 %, and the finance charge is over {$19000.00}. I was never informed about these terms during the sale. I was rushed through signing and was not given the opportunity to review the full contract or pricing breakdown beforehand. Additionally, the contract includes over {$5000.00} in extra products that I never knowingly agreed to, including : {$1400.00} for XXXX {$990.00} for XXXX GAP Coverage {$1800.00} for a Powertrain Warranty {$290.00} Pre-Delivery Service Fee These charges were not disclosed or explained properly. The base sale price was listed as {$20000.00}, which is nearly 3x the fair market value of the car. I believe this company took advantage of me and violated federal lending laws. I am requesting that the loan be reviewed and canceled or renegotiated. This is clear predatory lending, and I am unable to reasonably afford the vehicle under these unfair terms.
Frequently Asked Questions
What is Complaint #14758916 about?
Complaint #14758916 was filed against Drivetime regarding Vehicle loan or lease specifically about Managing the loan or lease. It was received by the CFPB on 2025-07-19T12:00:00-05:00.
How did Drivetime respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Drivetime?
Yes, visit the Drivetime company profile at readthecomplaint.com/company/drivetime to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.