This is the second part of my blog on the experiences I had trying to refinance a Ford F-150. On my previous blog I told you about two company's Countrywide & US Bank.

After being turn down by US Bank for a refinance I decided to see if Ford Motor would help me out of the $654.00 payment at 16 % interest rate. You my ask why is it so high, very easy to explain. When I bought the truck Countrywide have very bad derogatory information on my credit report. Countrywide said I had been late for close to two years on a repayment plan in which a $500. fee for doing the deal was charge. When I question this fee Countrywide could not provide me with a answer. So I went to court and sued Countrywide. They settle out of court for the $500.00, and stated they would fix my credit report. Well they made a effort to do this, but the finance companied would not take a letter from Countrywide, because hey could make more money by telling me it was on my credit report and The letter from countrywide carry no weight.

This is the first thing that have to be fix. When company that you deal with finance can place anything they want on your credit true, or not, and it will be up to you first to catch the error and then correct it. Most people don't know that they have this derogatory information until they try to buy something. At this point it will take you up to 60 day to have a credit agency to respond to your request. If you were trying to buy something at that time you will have two option. Don't buy it or buy it and refinance at a later date. My situation was I had a accident with my other vehicle and I had to buy the truck at the rate of 16% with Drive Financial. Here is a word of advice if you can do without do so. Drive finance I found their customer service out to be very bad out of a rate of 1-10 I would give them a 1. When I received my statement from drive my name was wrong. Simple enough to fix. Wrong Drive wanted me to send them a copy of my driver licence to prove I was me (Fordyce B. Townes II) That would not have been a issue, but I did not want to send my licence to someone I did not know and Drive had several means to verify the correct spelling of my name. One was just by call the dealership all the document there; as I was told had the correct spelling.

So you see I have a new truck with a interest rate of 16% and incorrect spelling of my name, and no bank will refinance me, or let me buy a new vehicle. I have decided to fight all parties because what they do is wrong and I am looking for anyone who has had similar experience. I will let the truck go back before I am rip off by Ford & Drive. Countrywide I will sue, and thanking about suing the rest. If we don't fight back then the battle is lost. Big money will trauma little money all the time. I am a fighter so as they say in boxing let get ready to rumble, also a quote from Bruce Willis cowboy up, but I say lawyer up.

This has ended up with me returnning the truck to Drive with no payment being late, and the truck was in excellent condition. Drive has sence place statement on my credit (Fordyce B. Townes II) But sent me a statement address to Fordyce Tower that I owe them Thousnad of dollars. We need a class action sue againt them they are just wrong in how they conduct business. I started blogging on this situation in December 2008, and can be follow @ [email protected]. Please check this site out to get a full story of my dealing with Ford, Drive, and Countrywide now BankOF America

My loan was originally with another rip off company: Triad Financial. They sold it, one year before it was to be paid off, to their cohorts, Drive Financial. I have been having the payments taken directly from my checking account for the duration of the loan with no issues. About a week after making my last payment I began receiving the phone calls. I assumed they wanted information about where to send the title(?). When I tried to return the calls, I was placed on hold in complete silence, so I gave up on that. (I will not use up minutes on hold!)
Finally they called when I could speak with them. (This is after leaving recorded messages for me to call two to three times a day, 3 days a week, for two weeks. When I spoke with the first representative, she informed me that my final payment was $130.00. I didn't have my paperwork handy but informed her that was incorrect, that the loan was supposed to be paid off on the 24 April and I had not received any other bill. I was also curious as to why they company felt it necessary to call enddlessly and hound me like I was a bad credit risk. After doing some checking she said she would send the paper work to her supervisor for approval and I should be "all set."
Three days later the phone calls began again. This time I had the information. I still owed 109.00 to pay off the loan. The man on the phone however, wanted me to pay 121.00, Upon inquiry I was informed that interest had accrued and 121.00 was the pay off amount now. I related to him the quote from the last call I had received just a week before, and again questioned the amount and the harrassment. He tried to tell me I had late payments...(not true) then asked how I was going to pay the amount. I asked why it couldn't be taken from my checking account like the rest. He told me this amount had to be paid by money gram or cashiers check. I finally arranged to pay by credit card but when the final amount was disclosed: 132.00, the extra amount was a "transaction fee" I lost my patience and told him " This is
bulls--t and how would he deal with companies ripping him off like this." After a dep sigh he said, "I just accept it and pay the amount." Exactly why companies can get away with it!!
Bottom line I want to see this company and others like it go out of business and I know it won't happen unless people stand up and say NO MORE...
They had no right to harrass me for the final payment and could have avoided the whole thing if they had just sent an accurate bill with the correct amount on it ithe first time!
I am composing complaint to the Attorney General (Texas) and the better business bureau...and suggest you all do the same. DO IT NOW WHILE YOU ARE STILL MAD OR THEY WILL KEEP RIPPING US OFF!!

You can become part of a class action lawsuite by going to the following website. Drive is already listed.

http://www.sueeasy.com/class_action_detail.php?case_id=383

I think Drive Financial and Watson Motorsport are owned by the same company. I financed my 2002 ford taurus through them back in 2002. My car was around 8, 000 and by the time I finish paying my loand I would be out of almost double. Highway robbery. I requested a payment payoff out of curiosity, and it really didn't make much difference. Now I am trying to get something new but unfortunately it is giving my problems and i can't drive it to a dealer. At this point it isn't worth anything and it's hard to get financed with an excess of 5, 000 in negative equity. Does anyone have a solution to get out of a bad deal?

Drive Financial is expert at giving the runaround! We paid off our truck in December 2008, with never a late or missed payment. We signed over a $4, 000 check from our insurance company as part of an early payoff deal since Drive would not sign the check over to us to get the repairs done until we had payed off the truck, and the insurance company had of course written the check to us and them. The deal was that check and two more payments, all of which we did. Since then, we have had nothing but problems.

First, they were calling for a payment in January, and when told that we had made a deal, NO ONE knew about it. Fortunately I had made them give us the deal in writing before we did anything, and when presented with this, they immediately promised to fix the problem. February comes, still no title, and we get another past due statement. (Mind you, we are trying to get financing for a house during all this, so you can imagine this wasn't helping!) We call again, no one knows about the payoff.

I have to go back to the original person we talked to and she again promises to fix it, it is all ok, just a clerical error, etc. March rolls around, still no title. We call and are told first that we have not payed off the truck and have an over due balance. Once again, we go through the story, I get transferred about 4 times and then the story goes to we accidentally released your title to the insurance company, give us a few weeks to get it back. What about the overdue balance? Oh, that will be fixed, clerical error, blah blah blah.

So, I call my insurance company who is VERY helpful and does a thorough search and lo and behold, they do not have our title, never have, don't know anything about it. Called Drive back and told them this. They said oh, they do, but they don't know they do, etc. At this point my very frustrated husband mentioned the word attorney and boy did things change! Now they say we can have a title by the end of the week. Funny, since it was going to take a month or more before...

Anyway, we will believe it when we see it. I don't know what the advantage is to them to give everyone the runaround like they are, but aside from being shady, incredibly hard to get a hold of, and apparently disorganized, they are without exception the rudest office staff I have dealt with ever. I have been disconnected, left on interminable hold, ignored, told to just 'hold my horses', I have had multiple unanswered messages/unreturned phone calls, and any number of other inexcusable customer service no-no's. I will NEVER deal with them again, and I would (and do) encourage everyone I talk to to not fall for their financing 'deals'.