Comments for DriveTime Saved Me

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Did you get an answer about paying your vehicle off early?
by: Anonymous

Hi. I'm curious if you got an answer as to paying off your vehicle early. My husband and I have not so great credit and were looking into drivetime as an option. If we were to go this route we would like to pay off the vehicle early as well once we get into a better financial situation.
As a side note all the comments have been very helpful and I'm glad i found this site. I'll definitely share it with my husband so we can try to make an informed decision. Thank you

great till I called to pay my car off early
by: Anonymous

I call drive time today which todays date is 01/11/2014 about paying my car off early. I've been with drive time for three and a half years my car purchase was $12000 after financing $24000.00 I pay $400 a Month sometimes $600 because I get paid 3 times a month. My balance is $6330 I called to ask for the pay off they told me it was the same as the balance.....i'm like how is that and i'm paying my car off early. Before I sign the contract the salesman told me that I can pay it off early and interests will be knocked out now I talked to two other representative and I was told that I can pay my car off early in the interest would be knocked off now today I'll talk to another person she told me that I can pay it off early but I still gotta pay the remaining balance of the loan and then she said drivetimes not knocked the interest off...I must pay the whole loan including the interest. I'm so piss not only that i'm not in a 48 month loan i'm on a 52 Month loan. and I explained to her that contacts is for the 48 months not 52 months she told me no all drivetime payments are at least.52 months or longer. This is some BS i'm going to call Monday and talk to a supervisor. Rip off when u try to pay it off early

I want to pay off early
by: Anonymous

Ill see what happens when I try to pay off early....these comments are scaring me. I have 4,000 left...SMH!!! Funny thing, they called this month from a dealership and offered to payoff my vehicle early to roll me into somthing newer or whatever id not stupid, I had a foreclosure and needed a car...I dont like to just throw money away, if It wasnt for this issue, Id never pay these type pymts on a 2006 Saturn Vue $414 a month...thank God I had help sometimes with this ripoff...but, overall I needed a car and they are almost out of my hair.

Charlotte, NC

RE: great till I called to pay my car off early
by: Justin
(Editor in Chief)

It sounds like the overpayment you were making was being applied to future payments and not towards principal. You just need to contact them and let them know how to apply those over payments, i.e. towards principal.

I don't think there would be any issue in paying off a loan early with them unless there are some sort of pre payment penalties, but I don't think they have penalties for paying off early.

Hope this helps,

paid off early NEW
by: Philipbower

I keep reading some comments about the inability to pay off the loan early with Drivetime and I wanted to say that I can assure you that you can.. How do I know.. I had a DT loan and paid it off six months early with no issues.. You will get a payoff quote that is less than the actually owed amount.

Additionally I enjoyed DT so much I am thinking about taking advantage of my DT champ status and getting another vehicle.

Good post NEW
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