Complaint / review text:
I got a car from DriveTime almost 3 years ago. My payments are over $400 a month on a 9 year old car. One thing I will say is they are very friendly and very willing to help. The only thing, their way of helping you is more beneficial to them than you. I cannot say my experience with them has been all bad, but I do feel like I will be indebted to them for life.
After three years of $400 a month payments I owe more on the car than I financed. Each month the payment increases. Last time I looked I still owed more than 12k. My payment is due the 14th of every month. A couple of months ago I decided to pay early because I was going on vacation and wanted to make sure my bills were taken care of before I left. They took that early payment and applied it to the interest and then started calling me telling me I missed my payment that month.
Paying early is considered "paying extra" and I still owed my payment for that month. I made my payment 1 week early. Unless I pay them an additional 400 for the month I made an early payment they will keep me in an arrears status which is hurting the credit I am trying to rebuild. I don't have an extra 400 and I thought I was doing something good by taking care of my payment before I started spending money on vacation. So now after three years of payments and paying early 1 month I am thousands of dollars upside down in a loan and in an arrears status because I paid early, not late. Needless to say I am not a happy customer...