J. D. Byrider

. Although J.D. Byrider is the car lot normally advertised in the media, there is also a sister company called CNAC that deals with the actual financing and loan collection process. CNAC normally buys 100% of the loans that J.D. Byrider originates. [http://www.entrepreneur.com/franzone/details/0,5885,12-12---282467-,00.html Byrider Company Bio] ]

Business model

J.D. Byrider advertises itself as a place where a person can help restore their credit after a life changing event might have destroyed or damaged it.Fact|date=September 2007 J.D. Byrider has been able to use a system of vertical integration of Sales, Service, and Collections to cut down on their own costs in order to continue to stay in business.Fact|date=May 2007 The company claims that it must deal with high levels of default that have caused many of its competitors to close over the years.Fact|date=May 2007 Their business model allows those with very low credit ratings to purchase a car. They count among their customers the following: recent divorcees, recent Bankruptcy filers, and those with no credit history.Fact|date=May 2007

Criticism

J.D. Byrider has been charged with unfair practices towards their customers. [http://www.accessmylibrary.com/premium/0286/0286-8278531.html Columbus Dispatch story] ] [http://ag.ky.gov/NR/rdonlyres/B25BEE68-D9C4-46E0-940C-EE5C469CFD77/0/AttorneyGeneralStumboAnnouncesSettlementwithLouisvilleJDByriderandCorporateFranchisor.htm Kentucky AG] ] [http://www.columbus-ohbbb.org/commonreport.html?bid=51002136 Ohio BBB Report] ] [http://ag.ky.gov/NR/rdonlyres/E8FB0F54-8DFC-4C02-8182-4E05A85C62F0/0/StumboSuesJDByriderforConsumerProtectionActViolations.htm Kentucky AG] ] [http://ag.ky.gov/news/byriderrefundpayments.htm Kentucky AG] ] [http://www.pbs.org/moyers/journal/08082008/transcript2.html Bill Moyers Journal episode on J. D. Byrider] ]

Government action against J.D. Byrider

*In 2005 the Ohio Attorney General Jim Petro settled a lawsuit against J.D. Byrider steming from customer complaints. As part of this settlement, JD Byrider agreed to make more than 20 remedial changes to its business practices in order to operate within compliance of Ohio laws. [http://www.accessmylibrary.com/premium/0286/0286-8278531.html Columbus Dispatch story] ] [http://www.columbus-ohbbb.org/commonreport.html?bid=51002136 Ohio BBB Report] ]

*In 2006 the Kentucky Attorney General settled a lawsuit against J.D. Byrider steming from customer complaints. Customers who purchased vehicles from J.D. Byrider of Louisville between January 1, 2000 and December 31, 2004 may be entitled to either a cash refund or a credit of $500 on their loans. On February 1 2006 the Louisville location ended its association with J.D. Byrider. [http://ag.ky.gov/NR/rdonlyres/B25BEE68-D9C4-46E0-940C-EE5C469CFD77/0/AttorneyGeneralStumboAnnouncesSettlementwithLouisvilleJDByriderandCorporateFranchisor.htm Kentucky AG] ] [http://ag.ky.gov/NR/rdonlyres/E8FB0F54-8DFC-4C02-8182-4E05A85C62F0/0/StumboSuesJDByriderforConsumerProtectionActViolations.htm Kentucky AG] ] [http://ag.ky.gov/news/byriderrefundpayments.htm Kentucky AG] ]

Notes

External links

* [http://www.jdbyrider.com/sites/jdbs.nsf/page/home.html Company website]