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AG Sues JD Byrider

AG Sues JD Byrider Featured

The Massachusetts Attorney General has sued JD Byrider for allegedly using predatory practices in its sale of defective vehicles with high cost loans at four locations in the state.The attorney general alleges that JD Byrider took advantage of consumers by routinely trapping them in an unsustainable and unfavorable sales package, known as the “JD Byrider Program.” This program generally involves selling drivers a poor quality car with a high cost loan, along with an expensive extended service contract, marketed through an aggressive and misleading advertising and sales campaign.According to the complaint, consumers were unaware that JD Byrider priced its cars at more than double their retail value, and required drivers to sign on to car financing with an annual percentage rate of 20 percent, regardless of their credit qualifications.The suit claims JD Byrider bundles its extended service contract into the financing as well.The attorney general alleges that the cars sold by JD Byrider are defective and sometimes inoperable. The complaint further alleges that JD Byrider employs a faulty underwriting process that underestimates the consumer’s expenses and costs in order to qualify them for financing they can’t afford.As a result of these practices, the complaint alleges, more than half of JD Byrider’s deals fail or end in repossession, causing substantial and long-term economic harm to consumers not just due to the inflated costs, but due to losing transportation and suffering long term damage to their credit as well.
Last modified on Wednesday, 27 September 2017 23:06
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