American Credit Acceptance, LLC Consumer Loan Complaint

American Credit Acceptance, LLC Consumer loan department,

Vehicle loan Problems when you are unable to pay Florida

I am a first time buyer when it comes to purchasing a car loan. I did n't have that much knowledge but I was interested in a 2008 Chevy Malibu. I purchased the car through AUTONATION of - - and began paying my carnote. I started doin my research and started realizing I was in a upside down loan. Once I told family members where I purchased my car and the price I was paying, their reaction made me do my research to find out what I had gotten my-self into. It had high miles, also my APR was 27 %, with the car depreciating throughout the time I have had the car I am paying $13000.00 dollars on a car that 's only worth $3000.00 dollars so that means I am upside down by - or - -. In due time I called my finance bank - AMERICAN CREDIT ACCEPTANCE - and told them that I do n't like the idea of starting out in a upside car loan and I requested that the car can be picked up for voluntary repossession and I did stop making payments on the vehicle. Finance bank asked if I would like to


not and they only can approve it for $6000.00 to settle. So I am forced to turn the car in because I do n't have that kind of money laying around and I definitely wasnt meeting the requirements of selling the car to a private party. It was brought with fair cosmetic damage, over - miles, and other little mechanic issues, after sometime I would see puddles of water inside trunk, signal indicators was defected and etc. The most I can sell the car for is $4500.00 even though that is a fairy-tale price I stated that to the finance company they did n't want to help, and the manager was being nasty telling me it 's either I pay the $6000.00 dollars or I surrender the vehicle it put me in a bad position. I was swindled into this car deal as a first time buyer. I feel like I was overcharged for a vehicle that will not be worth anything before the year is out. So I am forced to turn the vehicle in because I am out of options.