Drive Time which prides itself on being the “Go to Guys for Cars and Credit” claim they can just about approve anyone. This article will tell you a little about the Drive Time Dealership itself.
Drive Time Car Dealership has locations across 10 US states. The car dealerships are located in New Mexico, Nevada, California, Arizona, Colorado, Texas, North Carolina, Georgia, Florida, and Virginia. Most of the locations work from Monday threw Saturday from 8:30am to 8:00pm for customer convenience.
Drive Time Car Dealership prides itself of being able to approve customers that might be in a sticky financial situation. Drive Time works with people that have less than perfect credit, and even with people that have poor credit. Most of the time, if you have a steady verifiable income, they will do all they can to get you approved for a loan. Now lets take a look at why they can approve people that most car dealerships would send walking.
Drive Time Car Dealership finances most loans threw their own loan company, Drive Time Credit Corporation, instead of a traditional car dealership that submits your applications to outside banks, thus causing numerous inquiries on your credit report. Drive Time Credit Corporation prides itself of financing 99% of all car loans that come to their dealerships.
Not only does Drive Time Car Dealership finance most of its own loans, it also has different programs that benefit future customers. All vehicles that Drive Time Car Dealership sells are newer model vehicles. Most of these vehicles are 7 years old or younger. All of these vehicles have a Car Fax report that is included with them for free and also go threw a 53 point inspection before they are placed on the lot. This inspection is not as good as a dealer inspection, but how many of used car dealerships do an inspection that is this thorough?
All Drive Time vehicles come with a limited warranty with the vehicle purchase. Anything that goes wrong in the first 1000 miles is covered (of course with a diagnostics fee, approximately $40). After the initial 1000 miles, the consumer gets coverage on moving parts up to 6000 miles with the diagnostic fee. The dealership does reserve the right to change this program so be sure to check it out before you decide to purchase the vehicle.
Another program that Drive Time currently has is Drive Time Rate Advantage. This program gives the consumer the option of applying additional money down within the first 30 days of the loan. If the consumer places the specified amount down, the interest rate that is charged will be lowered for the term of the loan. Lowering the interest rate can save a consumer hundreds, if not thousands of dollars in interest payments.
Drive Time Car Dealership also has a program for customers that are nearing the end of their loan. Once a customer reaches a balance of only $3500 left on their loan and have made constant on time payments, the customer can upgrade to a newer vehicle with no money down and lower interest rates. Also if a consumer ends up paying off their loan, they can get the same lower interest rates and finance a new vehicle with no trade in required.
The last program that I would like to let consumers know about is Drive Time Rewards. Reward Points are acclimated when you purchase a car, pay off the loan, and for every on time payment that you make. The Drive Time Reward Points can be redeemed for different merchandise in a catalog that they offer to their customers.
The article lets you know who Drive Time Car Dealership is and some of the main points of this car dealership. Of course, you always want to do your own research before making as big as decision as purchasing a car but this will give you an idea of what programs are available from Drive Time Car Dealerships.
Stay tuned for my personal review of my Drive Time experience.