Credit Acceptance Corporation Consumer Loan Complaint

Credit Acceptance Corporation Consumer loan department,

Installment loan Shopping for a loan or lease Massachusetts

Called an auto dealership in our area and explained what we were going through and told them what that we had - to put down and unfortunetly told them how we did not have any funds for sales tax and they told us oh no problem and I asked how much would this cost and she if we could find a lender, I will let you know, we were under duress at the time as we had no car, so we went to look at it and it was sitting outback, did not let us test drive it, said they had to put muffler on and which they did but that was all as when we got the car, no heat then ac died then wheel well was problems in which they fixed but were not happy to as it was within 30 days. But the most important part was we signed it because we were desperate and had no other way to get a car, no funds in bank, absolutely nothing, my husband was using the company truck for a limited time as he needed to get to work. When we signed we had not had a car payment


be a co-signer and my credit is not good from student loans and never gave it much thought until our excise bill came and stated that the car was only valued at $1800.00 and that really opened my eyes and I looked into - - book and so that was true, and in the mean time, checked our paperwork and saw that after all payments were done, we will have paid $11000.00 for a car worth $1800.00?? They said the total cost of your purchase on credit, including your - downpayment is $11000.00 and now if someone hits our car and totals it, we only get $1800.00 and still have pay $11000.00 for the car. They took advantage of our bad credit and it was not a bank it was Credit Acceptance of Michigan and digging further on line about them, they do not have a good name. Now looking at it we are having hard time paying as well.