Rip-off Report.com - badbusinessbureau.com

JD Byrider - CNAC
140 Complaints and Counting

Because I'm one of the few Indiana members of the National Association of Consumer Advocates, I get calls from consumer attorneys all over the country about Indiana-based JD Byrider and its financing arm CNAC. When I get the calls, sometimes I sigh, and sometimes I chuckle under my breath, because I'm amazed that this company keeps at it. The link below is to the great consumer complaint site www.ripoffreport.com. As of this posting, they have 140 complaints about J.D. Byrider and/or CNAC.

A decade and a half ago, I had a long conversation with an insider in the subprime auto trade (not with Byrider). He said that his policy was to get a car with an actual cash value of $2000 and to price the car at twice the actual cash value plus $2,000 or as he put it "2x2+2". In other words, sell a $2000 car for $6000, and charge the highest interest rate allowed by law. Later I heard of another lender that was doing it as "2x2+4". Sometimes companies like Byrider can be legally challenged, but sometimes it's just "buyer beware."

Rip-off Report.com - badbusinessbureau.com