Vehicle loan or lease -- Repossession -- Complaint #8081777
Complaint Overview
Complaint ID: 8081777
Company: Drivetime
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Repossession
Sub-Issue: Lender trying to repossess or disable the vehicle
State: Georgia
ZIP Code: 30311
Date Received: 2023-12-29T12:00:00-05:00
Date Sent to Company: 2024-01-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
XX/XX/XXXX I reached out to DriveTime and requested the original car contract. The DriveTime car company told me that they sold the contract to XXXX a day after the car was purchased. XXXX had time to contact me and not 1 time did they make any attempt to do so. They mixed consumer credit with a cash transaction, which is illegal. A {$3600.00} down payment was given to DriveTime after they ran my credit. ( 15 u.s.c 1662 b ) down payment illegal ) They never offered or provided car insurance which is also something they are supposed to provide. Instead, they loaned me {$11000.00}. Then charged me {$7600.00} for finance charges and {$590.00} for XXXX XXXX insurance. Taking my total of {$10000.00} to {$22000.00}. They are operating with a false contract with forged digital signatures, which is also illegal. They have repossessed the car without a valid contract, which is also illegal. Since they sold the car contract to DriveTime, that now means I am paying for this car twice, which is also illegal. They never sent out paperwork for the right to rescind within 3 business days. ( 12 CFR 226.15 Right of rescission ) They sent a text message stating that they would repossess the car by XX/XX/XXXX but they got on XX/XX/XXXX.
Frequently Asked Questions
What is Complaint #8081777 about?
Complaint #8081777 was filed against Drivetime regarding Vehicle loan or lease specifically about Repossession. It was received by the CFPB on 2023-12-29T12:00:00-05:00.
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.