Drivetime

[needbizcredit2006]

So i see a truck at drivetime online that is actually the same as the kbb retail value. I have 590 experian Auto enhanced score which they pulled.

 

Terms

 

$12,000

 

$1k down

 

26.5% apr CRAZY

 

Also they stated that every $500 that I put down for the next 60 days will drop the apr 1%. Has anyone ever heard of that?

 

 

[mk_378]

Never heard of the APR changing after the loan starts. That sounds like a salesman just talking.

 

Drive Time is a slightly glorified buy here pay here. They always use the same finance company, which they own.

[Carbuyer1]

I had a friend do this on a Toyota a few month back, yes the do lower the APR if you put more down within 60 days. I personally wouldn't buy a car from them tho.

[MarvBear]

As far as I know, they carry their own paper, so they can pretty much do whatever they wish. as long as the law allows.

[BRBiz]

They are Santander correct?