Review and analysis of over 50 complaints against Credit Acceptance Corporation
Credit Acceptance Corporation consumers have reported over 50 official complaints related to Taking out the loan or lease. Out of the 50 consumer complaints against Credit Acceptance Corporation, 18% were disputed by the consumer (i.e. the consumer was not happy with how Credit Acceptance Corporation responded to their complaint) and 100% were processed in a timely manner. 8% of consumer complaints against Credit Acceptance Corporation resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 2% resulted in non-monetary compensation.
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Credit Acceptance Corporation Consumer Loan taking out the loan or lease March 5, 2017 - This is what happened. I had been leased for a car back in - -. I did n't know know anything about the creditor nor the bank that the dealer had done my loan account and amount for the loan I was asking for. I have never had the copy of the contract for the vehicle or loan. All I was giving was the application I did n't fill out. It was all electronic and electronically signed by the dealer. Until - - I was barely able to make the payments. I looked over the paperwork that the dealer had given me and the only thing correct on the application for the car loan and for the vehicle was... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease February 15, 2017 - On -/-/-, I purchased a - - - for $12000.00. I was told that I had to put $2000.00 down and then only pay a balance of $10000.00. I was never told that there would be interest. I was told the monthly payments would be $330.00 per month. I signed many documents but I was not provided with a copy of any of the documents. I then received a payment booklet in the mail from Credit Acceptance - and discovered that there were 60 monthly coupons for $380.00 each ( $22000.00 ). That totaled $24000.00 ( coupons plus my $2000.00 down payment ) for a - year old vehi... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease January 17, 2017 - Around - -, - i purchased a - - - for the advertised price of roughly - -. i was told That Credit acceptance can not authorize me to purchase a vehicle higher than that price, and that after 1 years of on-time payments i can refinance and purchase a different car. When i contacted Credit Acceptance to refinance, they told me there is nothing they can do. Due to Credit Acceptance High interest Rate ( I currently Pay 23.99 % APR ) No one will refinance at $16000.00 loan for a car that is only worth roughly $6000.00. by time the care is paid off i will have paid over ... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease January 10, 2017 - - - stated contract was voided. Credit Acceptance Corp on -/-/2016 opened an installment account without my consent through - - -. I was unable to provide deposit in the amount of $1500.00 as required to include paying off - red flags on my driver license. Dealership would not accept a promissory note. Credit Acceptance Corp et al - - stated contract was purchased on -/-/2016 by a third party. Again, on -/-/2016 Credit Acceptance withdrew monies without authorization. All authorizations were revoked associated with that account.... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease January 4, 2017 - Received a letter from the company stating my dispute was frivolous and I explained that this debt is not mines.... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease December 21, 2016 - I purchased a - - - from - - of - - on - -, - and they obtained financing for me from Credit Acceptance Corporation. I made my first payment in - of - after receiving my coupon booklet from Credit Acceptance Corporation ( CAC ). CAC had also contacted me prior to this via telephone to confirm my information, address, payment amount, etc. Then, at the end of - -, I received a letter from CAC stating that they were cancelling my loan at the request of - - -. They gave no reason why and did not offer any alternative or other information. On - ... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease November 29, 2016 - When I purchased a vehicle from - - in - NY, I paid $5000.00 as a down payment on a vehicle that cost $10000.00. The remaining balance was to be financed and paid in 1 year. The amount financed did not reflect the down payment and the amount financed was not the price that was agreed upon. The numbers were modified without my approval or consent. There is a huge discrepancy in the amount agreed on at the dealer and what the finance company had.... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease November 19, 2016 - A couple years after I noticed a car loan on my credit report that I never signed for. In the last 3 months I 've disputed this account multiple times and can provide certified copies if needed and nothing has happened. I just keep getting " verified new information below ''. I found your site from a friend that had similar experiences with the credit bureaus. I want this item off of my credit reports immediately. They are seriously affecting my credit score.... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease September 22, 2016 - I encounteted this business on -/-/-. - was my salesman and - was on finance. I was told and showed the vehicle being -. The contract was done via computer and - showed me a deal for - with a down payment of -. After electronic signatures was obtained - was printed and placed in a sealef envelope. I was contacted by - and advised to call Credit Acceptance to verify residency and they quoted me figures that sounded quite foreign to me. So i called Credit acceptance and advised them that i did not want to verify at this time and allow me to contact the dealership... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease September 15, 2016 - This complaint is to accompany my previous complaint regarding - - - here in Wi. In addition to the loan packing and material misrepresentations made during the transaction, I want to make it clear that when I gave my financial information I thought I would have opportunity to do my own application for the auto loan so I could read the terms. Everything was printed up, filled out and decided before I ever entered the finance office. I DID object to the ancillary products but was told the warranty and gap insurance were required by the lender. POINT BLANK. This is evidenced by the fa... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease August 13, 2016 - My husband purchased a car and never received a call from this company for about a year and when he did he was one day late with the payment they immediately threaten to take action and called constantly every hour on the hour when asked to not call on certain days or hours that he was at work. We have filed an insurance claim on our car due to $800.00 in damage and the day that we left the dealership we had issues with the car they did n't want it back because it was their car. Now we 've had problems ever since. Credit Acceptance has been harassing us since we filed a claim for damage and ... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease July 7, 2016 - I purchased an ( Infiniti F-35 - ) from a car dealer called - located in -, -. During the contract signing, everything was signed digitally on their computer system. After signing the contract, they only gave me the printed copies of the extended warranty 's documents and told me that their printer suddenly developed fault and promised to print and mailed it through - by the following day. During this transaction, I made a down payment of $4500.00 to the dealer, and the signed contract was supposed to be : Vehicle Price = $ -+ Extended warranty = $ -+ Taxes and others =... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease June 3, 2016 - I purchase a vehicle from motorama auto dealership in - of - within 30 days I had tire problems and half of my Dashboard lights went out. It was during this time that the owner of the company told me that he never touch the tires ( Which I do n't believe because they were brand new ) But he said he put a Engine in it which he did n't tell me when I bought the car. 2 months ago the engine started to knock and the Alternator went out a month ago. The dealership said when he bought the engine it had a month warranty. And quoted me - plus the cost of the engine. I am still making payments... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease February 5, 2016 - I noticed that I see Credit Acceptance on my credit report but I never encounter making a deal with them on a car. I recently received papers on being sued for a car that I never acknowledge that was mine. They provided a copy of the paperwork that was signed and my name was signed but I never had a car. I do n't understand what is going on. After receiving threatening calls ; I had to change my number because the harassment kept continuing after i told them that I did n't sign for a car. Since changing my number the calls have been coming again, but now they are using a " Blocked '' or " Priv... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease January 30, 2016 - I am currently making monthly payments to Credit Acceptance for a car loan, in a duration of 4 months. I purchased the car in -/-/-, and made a - dollar down payment, with the vehicle costing a little over - dollars. My monthly payments are - dollars, and I learned that the value of my - Chevrolet Cavalier, was only worth a little over - dollars in -/-/-, as a book value. Meaning, that I was overcharged by Credit Acceptance as well as the car dealer. This will result in a legal court case if I am not compensated. ... |
Credit Acceptance Corporation Consumer Loan taking out the loan or lease December 16, 2015 - I purchased a vehicle -/-/-, reason : Old car was totaled which I myself was not at fault. So Knowing im not a people person due to personal issues. I purchased a car from a local dealer. Being a very busy single mom working and in vital need of transportation for myson to a collage prep - school, and most importantly work means I needed a car fast. Went to a dealer I had done business with and trusted he was honest. Boy was I wrong!,!,! First he made an appointment to have me stop by and pick or look at some vehicles. I did they were mostly over priced. And not to clean. Simply not wo... |
Credit Acceptance Corporation Consumer loan taking out the loan or lease October 21, 2015 - Company response to previous CFPB complaint, raised additional issue. Although my prior CFPB complaint with the company was responded to swiftly, the comlaint was closed without addressing the issues. The company miscategorized the previous complaint as being focused on whether or not I liked the vehicle and was able to voluntarily enter into the agreement when buying it. This raises additional issues, and as CFPB closed the prior complaint, it appears I must enter a new complaint to address these - issues. Although I very much like the car, now that the Company 's prior response has raised... |
Credit Acceptance Corporation Consumer loan taking out the loan or lease October 6, 2015 - I purchased a car with what was described as in house financing, using - references, a hotel address that i had been at for one day, while unemployed and having an interruption in my plans for a place of residence. The car dealership approved me. But misrepresented the terms for repayment. So I filed a prior request. The not actually in house finance company sent me a copy of the application packet they processed. From this I learned that my address, downpayment amount had been falsified and that they manufactured afditional references from their employees. Upon contacting the finance compa... |
Credit Acceptance Corporation Consumer loan taking out the loan or lease September 12, 2015 - I BUY DEALER CHOICE IN - CA I TEST DRIVE THEY KNOW ABOUT IT I TEST FRONT SHAKING THINK TIRE I PUT DOWN - AND DEALER PUT DOWN - I ASL FPR WARRTY HE SAY WAIT FINISH SIGEN ALL PAPER LAST MIN ( ASIS ) SHOCK HE SAY NO WORRIED BRING CAR I DID FEW TIME NEVER DID FOOLISH ME I WENT TO SHOP FOUND OUT FRONT FRAME DAMAGE A-LE IFEW DAYS I GO OTHER SHOP FOUR SAME STORY TOLD ME TAKE CAR BACK I DID HE REFUSE TRADE OR MONEY BACK I CANT HEAR WHEN COME OFF U ALL CAN HEAR NOT ME I DO RISK DRIVE PO [ P AND STOP HARD RUN OVER YELLOW LIGHT I CANT STOP LAST MIN BRAKE BAD, COST OALOT - TO - DOLLAR NO WA... |
Credit Acceptance Corporation Consumer loan taking out the loan or lease June 27, 2015 - I purchased a -/-/- Chevy Silverado -/-/- from - in -. I test drove the vehicle and it appeared to be sound. I drove the vehicle to my job location -. Upon arrival the vehicle began hesitating and dying at stop lights. I checked the oil and it was down - quarts. The engine light came on. I topped off the oil and noted the oil light was acting irregular. In -/-/- I put my vehicle in the shop. The shop confronted me and said the oil sending unit was bad. It remained in the shop for - week until the repair was made. Later that month I was experiencing the transmissio... |
Credit Acceptance Corporation Consumer loan taking out the loan or lease May 29, 2015 - I applied at - in - ar i traded my already paid off jeep liberty they were suppose to give me $7000.00 for it in trade the vehicle i traded for was only supposed to be $2000.00 more from that by the time papers were signed i had - kids there for - than when i went to the restroom they allowed a boyfriend to sign on my car i had no idea about it when i realized what happened i called the car lot and asked to void it all cause the price was n't what had been agreed on and his signature on my papers they said they already sold my car i was basically well lack of better words screw... |
Credit Acceptance Corporation Consumer loan taking out the loan or lease May 15, 2015 - Hello my name is - - and I was illegally/over charred in price and intrest rate for a -/-/- - - from - in which Credit Acceptance Corrporation assist. I was manipulated into putting the car into my name because the original purchaser was denied by the bank and my name was n't. The car went into deep I status and was reported stolen -/-/- which was never recovered or sault after in which I told them I wanted them to find the car and remove me from the loan due to non payment and my credit score declining - points. I really think I was discriminated against because of... |