If you are being blocked from reading Subscriber Exclusive content, first confirm you are logged in using the account with which you subscribed. If you are still experiencing issues, please describe the problem below and we will be happy to assist you. Used car dealer JD Byrider used a misleading computerized budget analysis to set buyers up with car loans that were doomed to fail, setting them up for repossession and financial ruin, a Massachusetts judge ruled earlier this month.
Judge Brian A. That means consumers suffered economic harm from the loss of transportation and damage to their credit. The Dorchester location closed in November Roughly 15 percent of American consumers fall into this group.
Consumers with FICO scores below are generally unable to secure traditional financing, leaving them in a bind when it comes time to buy a vehicle. Traditionally, these dealerships are independent used-car lots, often with a limited inventory of vehicles. Many of these stores cater to specific ethic groups, and hire sales staff fluent in the language of their target audience.
Click here to check out some buy-here, pay-here BHPH stores that are geared toward Hispanic consumers. The BHPH plan is simple enough: consumers are financed by the store itself, and make payments, sometimes in person, on a weekly or bi-weekly basis.
The hook is that these stores only finance vehicles from their inventory, and the selection can be limited. Also, the vehicles themselves are often overpriced, and the interest rates on the loans are usually substantially higher than the rates applied to even subprime loans.
Founded in , JD Byrider is a national franchise dealership chain dealing exclusively in BHPH sales, and retails an average of vehicles monthly. Unlike most BHPH stores, JD Byrider locations present well, sporting a clean, standardized franchise look and some level of advertising support.
Additionally, JD Byrider stores are supported by a corporate website that allows consumers to review inventory by store location. He was great upfront with me. Worked with me and he didn't try to push me into a newer year or current year car like other dealers do knowing I couldn't afford the payments.
Craig help me find what I can afford and Marie was who I dealt with on the bank end. She was also helpful. I will recommend to go there first before anywhere else.
Get buying tips about Car Dealers delivered to your inbox. Thank you, you have successfully subscribed to our newsletter! Enjoy reading our tips and recommendations. As soon as I walked in I was greeted by Craig. He was Very professional and greeted me with a smile. He was very knowledgeable and he gave excellent advice and got me a very nice and great car. I highly recommend J. If you need someone to explain something slowly and accurately Craig is your guy to go to.
Nice guy and very professional. In a pinch due to covid. Unlike most places they actually did help even went as far as checking out of state but unfortunately the car I found was sold. Still worked with me and out of all the Byriders I had been to they actually helped and were nice. I normally never leave reviews but I can say I'm glad they're giving me a shot so I can get back to being on top.
Towed car to JD Byrider service department sure to car stalling or completely shutting off. The service department did diagnostic testing on my vehicle.
I am happy with my recent experience. Unfortunately I am going through rough times right now, laid off from my job and I'm the only one that works, however I start a new job in a couple days.
Typically, this means that external financial firms do not have any say as to whom the company can lend or not. The most significant advantage of buying your car from this company is that it has an efficient and swift credit approval process. Additionally, there are zero down payments, and clients can even get same-day credit approvals. All these are reasons why the company has continued attracting many American customers.
Since its establishment in , JD Byrider has grown into a flourishing, used car franchise in the US. Their unique business model, software solutions such as Discovery, and efficient credit approval process have helped the company grow to command the auto dealership industry nationwide.
It offers cars that pass the point inspection and warranties up to 36 months. If you are searching the automotive market for an affordable, reliable, and efficient used car dealership option, consider JD Byrider. Garrett by trade is a personal finance freelance writer and journalist. With over 10 years experience he's covered businesses, CEOs, and investments.
However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world. You must be logged in to post a comment.
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