I got a vehicle financed through JD Byryder a little over 3 years ago. I too was told that I could trade in the vehicle for a new one if my payments were on time for a year.
All the payments that were made over 1 1/2 years did not bring down the balance. In fact, I owed more than the purchase price. Thank god or the Attorney Generals office. Apparently I wasn't the only one.
An investigation was by the State of Iowa for Nebraska and Iowa consumers and the company was closed down. By this time I had secures an auto loan with my credit union. I was told to return the car and put the keys in the drop box--and I did. I called the customer service dept and they tried toget me to keep the vehicle.
I notice on my credit report it says account closed and paymen in full settled for less.
If you are thinking about financing with CNAC-DON'T....save yourself some money, time and frustration.
Review about: Cnac Financing Loan.
Monetary Loss: $7.