Credit Acceptance Corporation Consumer Loan Complaint

Credit Acceptance Corporation Consumer loan department,

Vehicle loan Shopping for a loan or lease Arizona

I went to - - in -, AZ to purchase a vehicle. I previously purchased a vehicle 8 years ago when it was - -. But, I did not have a good experience with a recent purchase. The salesman, - -, was misleading in the information he gave me about the financing and refinancing of the vehicle. The vehicle was more than - - - value as confirmed by my bank and another dealer. I could not get alternate financing for the vehicle because of it. Now I am in a vehicle with extremely high financing rate and payments that I can not afford. I told - several times I wanted to wait to get things straight with the bank and was pressured to move forward with the deal based on information he told me about the financing and refinancing of the vehicle. The purchase was made on -/-/15 and when we called on -/-/15 and went there we were told that the Manager ( who I assume is - - ) would not approve of taking the vehicle back. The circumstances and dealings with - - are shady and not very honorable. I have contacted the finance company which


company for their sales. They force deals on you with Credit Acceptance by doing the verification '' process and they receive direct funding in day as stated by - - who ( owner/salesman of - ) and is a featured dealer '' on the Credit Acceptance website for advertising purposes. They asked for my bank statements. pay stubs, etc. that very day so they could get paid immediately and the deal is funded. This completes the verification process and assures that - will be paid immediately on their deal regardless if they have misrepresented information or used predatory sales/credit practices. Credit Acceptance 's Portfolio Program '' that - participated in allows them to receive an up-front profit and to share in collections. The owner/salesman - - will do everything possible to close the deal to the point of falsifying most everything he can to put you in a car with the highest interest rates he can because of the funding he receives from Credit Acceptance. I have contacted Credit Acceptance on -/-/15, -/-/15, -/-/15 with regard to this situation. No one has returned my calls ( including - - - - ). I sent a complaint also to Credit Acceptance 's customer service to get this resolved and have not received any contact. My bank, -, has temporarily issued a credit for the deposit that I put down but that is until they complete their own investigation so it may not be permanent. - - was stalling on the deal to with me telling that he had already been paid/funded ( -/-/15 ). There was nothing I could do about it because the Credit Acceptance contract would not cancelled/revocable once accepted. We tried again on -/-/15 to return the vehicle and was told by - that he would have it towed if we left it there. I have contacted my financial institution, Credit Acceptance, -, FTC, AZ Attorney General, and a local TV station to assistant with this situation to get an acceptable resolution.