BOSTON (WPRI) – Massachusetts Attorney General Maura Healey is suing J.D. Byrider, accusing the dealership of deceptive practices that ruin consumers’ credit.
The lawsuit names Venturcap Investment Group and Venturcap Financial Group, Rhode Island companies that operate four J.D. Byrider franchise locations in Massachusetts: Brockton, Dorchester, Dartmouth, and Springfield.
According to the 21-page lawsuit filed in Suffolk County Superior Court, consumers who shop at J.D. Byrider “… get saddled with poor quality cars for which they often pay more than double the cars’ fair market retail value.”
The lawsuit claims that the sales pitch on the car lot is full of “false promises,” and that “42% of the cars J.D. Byrider sells require repairs within the first 3 months.”
And because of in-house financing that comes with a standard 19.95% interest rate, the lawsuit claims consumers are “set up to fail.”
In fact, more than half of J.D. Byrider deals have ended in a repossession, according to the lawsuit.
Healey is asking for restitution for consumers, civil penalties of $5,000 for each violation of consumer protection laws, and an injunction to stop the company from its alleged deceptive practices.
“Our goal in this lawsuit is to recover losses to Massachusetts consumers and make this company pay for the harm they caused to thousands of drivers across this state,” Healey said in a statement.
JD Byrider’s statement to Eyewitness News:
We are aware of the lawsuit filed by the Massachusetts attorney general and will be looking into the facts of this matter carefully. J.D. Byrider’s focus is to help people get on the road with a better car and the financing they need. We are committed to working with regulators to solve concerns and improve our business. As a company in business for more than 25 years, serving many customers across the nation, we work hard to set J.D. Byrider apart as an industry leader and will continue to do so.”