Consumer Complaints and Reviews
Like 80% of the people writing a review for this company. I ended up getting my loan through them not because my credit is bad, but because I already have a car in my name and we needed another car and a lot of the lenders will not do it if you have an existing loan. I get the loan through Credit Acceptance. About 6 months into the loan I was about a week late with my monthly payment and called and explained to them that it would be late and made arrangements with the customer service rep. 2 days later the car was repoed.
Okay, so I pay the required fees less than 24 hours to get it back all except the repo fee that they set me up on a plan until March 2017. This fee was around $300. Well on the 14th of November I called them and stated that I get paid on the following Monday and that I could make the payment then. The rep states that I have to make the payment that day or they will repo the car. So I make the payment through my checking account. This account is only used to pay bills. Well at the same time my monthly back fee comes in and subtracts $5 out of the car payment, I notice that my account is overdrawn due to this and rush to put the extra money back in the back. I was 1 minute late to the back and missed it. The check will now be returned to Credit Acceptance.
So I immediately go to Money Gram and make the payment thinking I'm okay since I submitted the payment. This was on the 15th which was over 2 weeks ago. No phone calls saying, 'You're late', or 'You have violated the contract' nothing. So today I come to work, park in my same are. Well I come out to move the car since it is my late day to work until 8 pm and guess what no car!!! I call Credit Acceptance and ask what is going on. The rep tells me, "Oh you were late paying - your payment - so we repoed the car".
So I explained to him what happened with the check and out of good faith I took the money and made the payment the next day. He said the arrangement is on the 14th of the month and in order to get back the car you have to pay $802.20. I said, "Are you kidding me? So what happened to my payment that I made on the 15th?" He says, "Oh that will be applied to your balance but you need to pay the monthly payment plus repo fees to get back the car." I have never in all my years dealing with finance companies have heard anything like this! This company is a rip-off and who repos the car when you clearly have the payment even if it is 24 hours late.
This is the way the prey on people and make money off of the consumer. This is a HORRIBLE company and I am so sorry I got financed through them. I have had at least 3 cars and have NEVER had this issue with a finance company before! I have read the reviews and this is just a money-making rip-off company and the Better Business Bureau should pull the license. Most companies will give you a grace period to make the payments. The customer service reps are very rude, unprofessional and on more than one occasion when calling in I get different information.
How does the owner of this company sleep at night I do not know. I am a single person and reading the reviews with families involved it is very sad that this is the best way that someone can think to make money. Even if I were desperate for a job I would NEVER work for a company like this. Where are the morals to society?? Again may God help the people who run, scam and rip-off the people who have signed a contract with this company.
I purchased my first car back in February 2014... a 2009 Chev Impala for about 10,000. Because I don't have much credit I had to go through a financing company. I was told was my only option Credit Acceptance. I put down 4,000 and had payments of $250 a month for 3 years bringing it to about $12,000 I would pay. Not bad for the car had 20,000 miles on it... so I thought!
Now I only have 3 months left of this contact. They start hitting me with these LATE FEES AND MISSED PAYMENTS!? I'm confused because I have it directly taken out of my account and then an email from the company comes through letting me know my payment is being processed. I asked how is that because anytime a payment happen not to go through, which was twice to my knowledge, they called and I would get it taken care of... BUT NOW THEY ARE SAYING "oh we don't have to do a courtesy call anymore.." Huh. Okay sooo they are allowed to change policy at anytime without knowledge to the CUSTOMER???
Call customer service... THEY HAVE DIFFERENT STORIES DEPENDING ON WHO YOU ARE TALKING TO.. They are rudeee! And when I ask to speak to a manager, boss or anyone over the company, they claim they isn't anyone to report them to! So further giving them a reason to not care about the treatment of their customers!
I'm sooo angry that I went with them! IT'S TRUE.. They prey on people that need financial help with ** cars to get the most money out of a car you probably have to take to the shop as soon as it's paid off! They are taxing unreasonably without notice.. and then threaten to take your car only to add more interest by making you redo and payment plan... Long story short, trying to make me pay over $400 a month for a car I will be done paying by February 2017... it's **!
When you try to talk to them and make sense of the crap they get angry, cut you off while talking, and then tell you to be polite! But I DON'T WORK THERE... YOU DO!!!! So you all work on your customer service! The runaround they gave me today is unbelievable, to them hanging up in my face BECAUSE I PROVED THEM WRONG!!!
If anyone knows who I can get in contact with to REPORT THEM AND THOSE RUDE EMPLOYEE PLEASEEEE! I told them about all the complaints I just seen and lady NAME DOMINIQUE basically told me "SHE DOESN'T CARE!" I'm about paid off with this car and now they are try get me with extra charges! It isn't fair! Please help!
Credit acceptance Corp preys on those with less than perfect credit. They are somehow finding a way to write off their cars or receive money upfront. My car was repossessed and I paid to get it back. Since then, I've paid on time. This month I was late 5 days (including a holiday thanksgiving 2016) and my car was put on the repossession list and picked up same day today/Friday. I'm not going to go into details, because it's irrelevant as they have the car. I would advise everyone regardless of how desperate you are to finance a car to either wait and purchase from a reputable lender or go another route. I've read their reviews and I'm so disgusted.
What kind of finance company takes pleasure in giving a 10-20,000 loan to easily repossess a car as if it was a rental car. I find them to be pathetic predatory lenders and Karma will work on the behalf of every family they cause pain and suffering to. They told me "oh we don't want to repossess your car," and I think really you'd rather not spend 3.00 on a certified letter and just repo my car with the hope that I'd pay to get it back OR you sell it/auction (and I've purchased less than 1 year). My due date was 20th and it was repossessed 25th.
When I was very sick and in the hospital for months, my husband got a job out of town and needed a new truck. We were in a financial strain and could not afford much. We were able to finance with Credit Acceptance. When the truck needed repairs, (it was the best we could afford) Credit Acceptance worked with us. We always made arrangements with them. Sometimes we even had to call back and make additional arrangements on our arrangements. Finally we paid the truck off.
My husband got another job and shortly thereafter a raise and promotion. We needed another new truck. We were no longer in financial straits and our credit was now good. We picked out a really great truck upgrade, pre-owned and I insisted we use Credit Acceptance again. The dealer told us we could go somewhere else for credit, but I refused. Because, they were good to us when we needed it most, and I believe in repeat business when someone sees a contract through to completion.
I got a 2005 Honda Odyssey from American Eagle Auto (11-20-16) who finances through Credit Acceptance. 12-11-16 brakes going bad. I had them replaced. $50.00 by owner of Car Lot. 3-23-2016 Radiator hose by a friend at work. (Free of charge.) September 2016 replaced Battery. Took it to Wal-Mart, $25.00. October 2016 Alternator replaced by Honda dealer, $719.82. Now it is November 2016 and have to have power steering line and pump replaced along with serpentine belt. With all that being said I have been calling to Credit Acceptance to see if I can be put in another vehicle.
I got to another car dealership they finance through and salesman calls to Credit Acceptance to check my account and he is speaking to someone who says his name is Antonio. I heard the salesman respond to each question that he was asked and his last response to the last question was "** female" I guess because I am a ** female. I need $3000 more down to be financed through them even though I have made all my payments in a timely manner. Even though I was sold a lemon and still making payments to keep my credit up.
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In August I bought a car from Redline Motors in West Monroe LouisWest. Even though my credit score was below good credit acceptance gave me a chance. I appreciate the help they gave me but at the beginning of Sept I told them my car had been stolen and they offered little help. My car has a tracking device on which could be activated at any time at the discretion of the company. Even though this car has a GPS installed the company will not track the car for me nor will they shut it down so that I can get it.
They told me that the only time they activate the GPS is when the payments are late. The car will be shut down completely and repo is the next day. They only care about money. On the 27th the note will be 3 months behind and they haven't repo'd the car and I still don't have the car. Then they said when they get it back they're gonna take it to an auction and sell it for whatever they can sell it for and charge me for the rest of the money but I promise I won't be paying this crooked ass company one dime.
On 11-18-16 around 6pm, Credit Acceptance Auto Finance Co supposedly been re-poed my vehicle without notice. I was 35 miles away from home, it was freezing cold in 33 degree weather and left me stranded, I am a 54 yr old female, traveling alone. I know we were one payment behind plus $73 dollars more. But, instead of going after other people that are 3 to 5 payments behind, they all decided to leave a 54 yr old female in the freezing cold weather with nowhere else to go or to turn to for help. Now how would you consider that a good quality customer service. I've had credit with other companies in the past but, nowhere have they left me stranded in a 33 degree freezing weather. They always made the initiative to work with us. Let alone my spouse is already on Medical Leave for a month now and yet they decide to add on more issues?
They will finance a vehicle at 200% the appraised value in order to split a kick back with the dealerships. The vehicle was listed at $7,497.00. However, in the office with the account manager, it magically increased to $10,997. The vehicle was a 2009 Ford E250 Kelley Blue Book $4500, ladder rack, shelving, door locks $3000 value, total van value $7,500.00. With a $3,000.00 down payment should be financing $4,500.00. Yet the dealership says Credit Acceptance added fees, I asked for disclosure of the fees and it was then said that it was Credit Acceptance requiring that the vehicle be listed at list price of $10,997.00 instead of the posted price of $7,997.00.
I was reading all the complaints and I just more or less wanted to do a play by play, from our loan origination, to pay off completion. I feel that reading the complaints just seemed so one sided to me. We had purchased our vehicle at Kightlinger Auto sales Inc., a fair 2004 Santa Fe 4wd. Hey Not new but it moves, it gets us from point A to point B. Now we have yet to receive our payment book, but did contact them to see if we could get the payment date changed to the 15th. We were told that this was not possible due to the contract. Ok fair enough! However, the rep did indicate that, if we set up AUTOPAY, we would more or less have a 10-day grace, I am really not one for auto pay, so I feel that the best course of action would be to make sure we have monies available, on or before the 9th. I felt that the rep was honest, sincere, and very helpful.
Some of the reviews that I have read about this company, I have to question. My bottom line to not having my vehicle taken. READ YOUR CONTRACT! MAKE YOUR PAYMENT! CONFIRM THAT PAYMENT WAS RECEIVED! I refuse to send any snail mail payment; I will pay up to but not over 10.00 to have my monies removed off a debit card (prepaid). I will never have any company have access to a checking account with debit card access, that has all of my funds on it. Two reasons 1. Murphy's law. 2. If a company tries to take more monies that they are so-posed to. I have that declined transaction notification sent to me, now I have proof of funny stuff. Yes I have had that happen to me before, some type of mistake or some dunderhead added a 0. Not fun to have no monies or having to wait for held up funds either to pay other bills or put food in my belly.
Basically they are taking a chance on you, and you at least must give the same in return, being up front is the best bet. Be on top of this at all times. After reading my full contract, they have the right to take the vehicle to protect their interest. With that being said, so far I am going to give them 5 stars. They were easy to work with, the contract was plain and simple, the reps we spoke to so far were great.
I was a little taken back to see such bad reviews for Credit Acceptance. I purchased a car in September 2014 from one of their dealers here in NJ. At first I was a little reluctant when I was told over the phone that they had an approval by Credit Acceptance. I'm the type of person that researches everything especially on companies that I will be doing business with but I was so excited that I received an approval for a 2013 car (then just a year old). I have had some credit issues in the past but have worked really hard to change that. So I drove out to the dealer, looked at the car and loved it so I traded in my old paid off vehicle, didn't have to put any money down and drove home with my new car in less than hour. The interest rate was high but my payments were within my budget and I was completely satisfied. I have always made my payments before the due date and never missed a payment in 2 years.
Two weeks ago I received another call from the same dealer asking me if I still the car I purchased from them years earlier, which I did. They asked me to come down and take a look at their new inventory and they may have a better deal for me on a newer vehicle. So I decided to go there and see exactly what they had to offer me. Lo and behold they were able to get me a 2015 Camaro. They promised to pay off the 2013 Fiat I previously purchased from them. I was a little concerned about how the whole pay off thing would work with Credit Acceptance. There were no issues whatsoever.
The point of my story is that as long as you make your payments on time, you will not hear from Credit Acceptance. My experience fortunately was a great one. This time around I was financed through a different company but they based my approval off my Credit Acceptance payment history. Yes the interest rates may be high, but if you stick to your goal and make your payments, you will have a great experience just like I did with Credit Acceptance. We all know what we are getting ourselves into when we sign our names on the dotted lines. Thanks Credit Acceptance for financing me when no one else would.
I traded in a 2001 Jaguar Vader Plus Super Charged (170+MPH) and brought in the 4 collector estimates, each showed a vale of $8500+. The truck I wanted they said they could not get financed, then they bring a truck from somewhere in the back, unwashed, almost bald tires and ran like crap. The odometer read 44,876.9/10. Before I could say anything they put a green sticker on my Jag and it was gone. I told them that an army pension is good but I did not wish to pay any more than 250/350 at most.
When the finance manager got done with the paperwork, my payments were over $589+ and my trade-in was $4000. I said NO but my car was gone; I told them to produce my car and they said it was already gone. They promised to put on new tires, get it cleaned up and tuned up. I took the F150XLT to the Ford dealership and they said that the computers had been switched out and the truck had more like 144,000 to 244,000 Miles on the engine. I am just glad it's off my farm in Michigan even if it did cost me $2500 to ship it back to them in VA. I will never do business with either company again.
1st off I would like to say that I was forced to give this company a 1 star. It's recommended. 2nd, after reading these reviews, it seems like all of the 5 star ratings on here look coerced as if someone INSIDE of the company wrote the review to keep their star rating up. All the 5 stars are anonymous writers??? Seems fishy...
Now my review... My problem with this company is that they are REAL SHADY when it comes to situations where they don't get their money on time... I had my car set up on auto payments from DAY 1. A few months later, for some odd reason my account was frozen the day they tried taking the payment out of my account... I never noticed the freeze bcuz none of my cards were ever declined the day it was frozen. I called my bank and all and it seemed to have been an error or something.
The issue here is that when they didn't receive a payment, you would think they'd call you to see why you missed a payment. Nope, nothing. I learned of the mishap a month later when the vehicle was repossessed without notice. I call credit acceptance to find out what is going on and that is when I find all of this out... My thing is, why did nobody call and leave a message or something about the missed payment and to call back and fix the problem? Their answer was that their policy requires them to NOT leave voicemails.
The issue now is that I bought a new car and am basically giving the other car which is financed through them BACK. So now again they wanna get nasty over the phone being that I refuse to continue paying them bcuz of their shady practices. The rep basically told me that they were gonna write off my car as an abandonment Vs a voluntary repo being that I'd rather them get it from the lot where I left it VS coming to my house to get it. It is not an abandonment if I'm literally telling you I'm surrendering my vehicle.
THAT RIGHT THERE IS THE SHADINESS... Never in my life has a company I dealt with NOT call to let me know if a payment was late or the card was declined or wrong to rectify the situation... It seems as if this company finds any and every way to screw over everyone in order to collect as much money as possible. How can you be a credit rebuilding company if all you do is destroy people's credit in the process? There is no type of LEEWAY for anything at all. The day you don't pay, be looking for your vehicle to be repossessed...
I don't even wanna continue with this review because I can go on and on about all the shadiness in this company. Also be aware that customer service is rude as well and will hang up on you mid convo once they hear that you can't make a payment on time or something. As long as I've had credit, I've never in my life dealt with a company so deceiving and nasty... And I really don't know how this company isn't under investigation for a lot of their shady practices.
Due to illness, had to travel to another country for health care. Forgot a payment. As all other payments went through, I still did not realize until car was taken. I paid the one months payment and towing fees, before the agreement date only to hear that the car is under a work order as if they are preparing for auction. My property has been cleared out of the car. Of course I am fuming, but I am going to see what transpires. There was a lady, "Wife of Marietta" on this site that may be pursuing a class action lawsuit. I have legal experience in the States and in London. I work very hard, as I know many US citizens do and I cannot stand injustice.
I have read quite a few of the other complaints and it is a possibility that this company is affiliated with car sales companies that sell lemons. Low income families or people with not so great credit seem to be the target. Companies like this prey on people's dreams and hopes. People get into financial strife; unexpected illness is one of them. I hope to network with others that have felt that they have been unreasonably or unfairly treated. Unreasonably and unfairly being the operative words here. You know, one thing that I loved when reading "Wife of Marietta's" post, when she said that we have to fight together. When big businesses get away with wickedness they usually continue because no one stands up to them. Their greed motivates them, but our passion to help one another should motivate us to help others. Even if it is to make people aware.
I have never had a loan with this company. They tried to garnish my wages because my name was the same as their client who didn't pay his loan. They managed to get a garnishment and sent it to my employer. Luckily my employer is also my friend and the ssn and address don't match and he will take care of notifying Credit Acceptance Corp that they have the wrong person.
Purchased a used 2001 Chevy Tahoe from this company back in 2009 in MN. The vehicle needed a new Transmission 4 months after purchasing. Company was notified regarding us having to replace transmission so soon. We moved out of state with the vehicle and was making monthly payments and they Repo vehicle stating we breach contract by moving out of state, "What". Tried contacting them to retrieve my truck back and they wanted to charge a fee for Out of state, really...
Long story, short. I didn't pay for the fee and didn't want to pay for a lawyer. They sold vehicle in a private sale and did not notify me on any of that procedure, turned around and sued me for the remaining deficiency balance of $2146. They went and filed a faulty judgement against me and trying to garnish my wages for the remaining balance. They have yet to provide me with documentation of the sale or to the courts. This does nothing but LIE. Something has to be done about this and they need to be stopped. Here is how to do that and I will be filing as well. WE THE PUBLIC HAVE TO HELP OTHERS. STAND TOGETHER AND FIGHT AS A TEAM TO BRING THEM DOWN.
Hi everyone. Well 2 weeks ago Credit Acceptance repoed my van due to a non payment which was mine and my husband's fault. We were late 2 months. Whoops our mistake because we had moved and did not call them. So I received a paper in the mail and said I still have time to get it out of repo so I just got my money and paid what I had to pay. And now today on Nov 1 2016 Credit Acceptance Corp has been working around the clock to contact the auction place where my van is at to get it set up for me to pick up. So all these bad reviews on here about how the Credit Acceptance has sold a car to you - they don't sell the cars to you. They give you a loan and you pay them back. That's all you do so please think about that before judgment. And 2 the only way they take the cars is if you did what I did, did not pay in 2 months or a month. They have a right to repo it so think before posting bad about a company that has nothing to do with the sale of the car but payment only.
And if you have a problem with someone you talk to about a payment then ask to speak to a supervisor. And the only way to get things taken care of instead of smart mouth is to talk with calmness without fighting with them. That's what gets you in trouble and that's how you have a car taken away because they think you don't want to pay. Please read up on troubles with paying a car loan and it will guide you through steps to steps on how to talk to a rep without arguments and fights to take care of matters.
Please everyone they're not so bad. They want you to have you car back. They hate taking the cars so do what you can to keep payments on time and if you have problems contact them and tell them. That's what me and my husband did. Thanks for reading and please understand again they're not there to be bad guys. They're there to help but you have to help yourself in order to get stuff taken care of. Also if you can't make any more payments let them know that you like to repo your car and they will be very happy to assist you in the process. GOD BLESS TO ALL AND HAVE A GREAT THANKSGIVING, CHRISTMAS AND A HAPPY NEW YEAR.
So far, almost every single complaint I've seen on here is idiotic. If you buy a car from a crap lot and it breaks down, you can't blame the company that financed your loan. You blame the CAR LOT! Common sense!! Also, if you can't make your payments, for WHATEVER reason, your car will be repossessed. Do y'all have any idea how many people will call and whine that they're in a hardship due to reasons they can't control just to try and skip a few payments? Come on, people! When you enter an agreement to pay a loan, PAY IT!! I get that everyone does actually have issues in life; job loss, death in the family, whatever, but that doesn't mean you can blame Credit Acceptance Corp for not cutting you some slack. If that were the case, we'd all have a death like every month to avoid payments.
Y'all are pathetic and want handouts. I've had NO issues with credit acceptance yet, and don't plan to because I MAKE MY PAYMENTS!! And if something DOES happen and I can't make a payment, that's MY problem, not theirs. I have a mortgage payment, a truck payment, and a car payment. I've had some moments when I've been down & I manage. But I also make my payments. And if I don't, that's MY fault. These bad reviews really piss me off!! Y'all have no common sense AT ALL.
American Credit Acceptance is a bank that preys on people that have less than perfect credit. They use a product that is called a "Simple Loan." The definition of a simple interest loan is a loan that calculates interest only on the principal (the amount borrowed) and not on the interest owed. An example of simple interest loan is a mortgage with a 5% interest rate that is divided into 365, which is .0137% daily. Not only do they use ridiculous rates as high as 20-25% depending on your credit, they increase on a daily basis which means that you will never pay off the original amount you signed for. Furthermore, if you miss a payment by a day, it also increases.
You can only change your pay date once in the term of the loan, so there are no changes after that if you have a problem. They use an outside collection company for web payments charging $7.45 per payments. The website does not use any SSL certificates which means that your information is sent through the internet in clear text which can be easily hacked. In short, your principal (what you owe on your vehicle) will never go down more than 20% of what you are paying and the rest is pure interest. Stay away from this and any bank offering this type of loan, no matter how bad you need your car. I hope this helps someone considering using this bank or a similar financial institution.
Started by buying a crappy vehicle that was sent in at way more than was Agreed upon. For six months I've been trying to get a written payoff for the loan but get the same answer every time. "Are you gonna pay it off in ten days? What's your address? Blah blah." But never receive it. On top of that, my payments are sent on time but processed late which is killing my credit. I get repeated automated calls but never results. I agree with the other consumers. Weigh your options with other creditors before using them. I feel like there ARE scammers working with dealerships. Terrible customer service.
I had to have a full size vehicle to accommodate my family. I traded in my car (that was paid for) from a lot in Alexandria, Ala. They quickly accepted my trade-in and I drove away in the Chevy Equinox and which was financed from Credit Acceptance (big mistake). The car tore up with me on the 1st week, it was running hot, and the car lot did fix the problem at the time, which a few more weeks had passed with the same re-occurring problem. They did not offer to fix the problem and the air conditioner plus heater (blowers) quit working on top of the other problems. Credit Acceptance would let me change vehicles.
My husband lost his job and we lost the ability to make the high payment. They accepted lower payments, but went back on their word and wanted the car back expecting the higher payment which we could not afford. The car was junk and I had to shut it off every time the temp rose. My husband got in a heated argument and they pick up the car. They picked it up alright, even with me contacting a attorney I have used in the past. He advised me they would sell it and come at me for the remaining balance that was owed. The car was priced at 11,000.00 and the book value was low, I owed about 7,000 on it. And they hired a agency to collect the remaining balance of 4000.00, they only got a little over 3000 at the sell.
I tried to work with this company they hired, but it was very hard, paying on a vehicle you no longer have and on limited income. I offered a settlement at tax time of 1800.00. They would not accept it. I only owed 2400.00, and now I have been unable to pay the monthly payments for some time. So now they have hired a company Verifax to investigate where I work. Now the attorneys for Credit Acceptance are coming at me now, and I got their direct number to work with them and now they wont call me back. I am warning consumer, please, please do not get a car loan with them. The car lots they deal with, you have to be aware of what you are buying. I am calling the attorney today and maybe they can get in touch with them, before they sue me. Thanks.
My son needed a car because he moved from California back to Hawaii and he started a new job the following week. Went to a reputable car lot, this Subaru was the only one he could afford. I put the car under me and he would be making payments. Long story short, he couldn't make the payments, car got repossessed. This company called me every day asking me if I wanted to pay off the balance of $600 to get the car out of repo back to him. I was like, "the car had to be fixed at least 4 times, major repairs, and why would I want it anymore, keep it." Called 3 more times after that asking the same thing.
Finally called this last time to tell me that I have an outstanding bill for $9000. The car is only worth $2100 at the most. Really? Is this how you rip off your American brothers and sister? Just stick a bill to them, high interests, for a ** car, poor customer service, just because they promise you they can put you in a car? There are reasons why people have to use a service like this, cause they can't get a loan, yet you skyjack prices and expect them to afford it. Credit Acceptance must have a ton of used vehicles they reselling for **.
I bought the worst car from a horrible auto dealer, Affordable Auto in Stuart, Fl. 4 days after driving off the lot I had multiple problems with the car. I called credit acceptance for help, was told my account was being escalated to corp legal department. That was on 9/29/16. As of 10/21/16 I still have not heard from Angela who's is supposed to be handling my account. I did talk to an assistant who informed me 11 days to do a 1 hour job was acceptable! The issues still have not been resolved. When I call I'm on hold 20-27 minutes and they hang up! But they sure took the money out of my account.
Where should I start? I got approved for a 05 Jeep earlier this year by Credit Acceptance. I was so excited. I looked over my paperwork and my total price was 9k, a little too much for a 05 but I needed a truck for my family. At that time I was on unemployment and I was making pretty good money. My unemployment ended and I called Credit Acceptance to see if I could get some assistance with lowering my payments for a month or two until I started working. They told me no. I missed 1 payment and they picked my truck up. I had to pay 571 to get my truck back but they then added an additional 85$ to my payment every month. I agreed b/c I just started working.
2 weeks ago they called me on a Sunday morning about my payment. I wasn't able to make the entire payment but I made what they call a good faith payment. The guy asked when I could make the rest and I told him in 2 weeks. He told me that was fine, asked if I wanted it drafted out my account. I told him no I would call in the payment and he said ok. I woke up this morning and my truck is gone!!! Why is it gone when I made arrangements with you??? Along with all that, I will end up paying 15k for a truck that worth 6! I'm done! They can have that truck. They will never get another dime from me!
On May 3, my husband, 2 very small children and I were in a 3 vehicle collision which completely totaled out our then 2003 Chrysler Town and Country (Fully owned). We went to a local dealership that carried the vehicle I really wanted and started working with the finance team in finding us a new vehicle. Upon checking our credit, they decided that the vehicle I wanted was WAY out of our ability of payment range and showed us a 2008 Toyota Camry XLE. They didn't even disclose the price of the car on the lot, by the time showing us they had removed the price tag on it. So since our credit was horrible, mine being a thin file and my husband's destroyed from a previous marriage, we were told that Credit Acceptance was willing to take us on as new vehicle owners. They made our loan out to over $14k, we were to pay 277.25 a month and our interest rate is 24.99% for 60 months.
Since driving the car off of the lot on May 11, 2016, my husband has lost his job due to having to help me with our kids, I was badly injured in the wreck, and I have had to call and set up payment arrangements, I have followed through with the allowed $75 for the 3 months it was scheduled for. Our last payment on the arrangement was for October and I paid $90, on the 4th they called my husband's cell phone at least 9 times. I finally called them back to set up a new payment arrangement as I had been directed to do if my circumstances hadn't changed, and they still haven't. We're on a fixed income of $342 a month and still have to be able to afford our car insurance, diapers, and everything else for the house with an expenditure of $75 left over.
Essentially, what I'm saying is, I called under good faith of having made all the payments asked of me and the first words out of the representative's mouth was, "I see that you are past due $795, how would you like to take care of that today?" I explained that I was calling to set up a new payment arrangement because our situation had not changed whatsoever and I was informed that even though I had made those arranged payments of $75 each month on time that I was required to pay the back balance because my account would be pulled for review and I would lose my car anyway because $75 isn't enough of the payment to allow me to keep it. So I asked them to give me a payment amount that needed to be paid within a given period of time and I was repeatedly told the $795 was all that could be paid to keep my vehicle and not be seen as defaulting on my loan.
I then handed the phone to my husband as I had became heated and didn't want to say anything stupid to wind up losing the car as it was. My husband informed them of how they were harassing us by telephone and the rep laughed at him and stated that they were allowed to call as many times as they do. He told them that if he received another phone call he would file a cease and desist against them. The rep then told him that they would just delete our phone numbers from the file and we would be brinking our agreement to open communication with them. My husband then asked what kind of payment did they need for them to allow us another payment agreement and with pure sarcasm the rep stated a full standard payment ($277.25) by Oct 21st. He said "Ok, well we will do that then."
And the rep proceeded to tell him that they were coming to repo the car because there was no payment arrangement made when he verbally stated that "If I have the payment by October 21st, it will be paid since we don't like making agreements that we aren't sure if we can follow through with." They proceeded to tell him that they were going to set up a repo for our car and that there has not been an arrangement made for payment and we were defaulting. We are currently driving the car still and wondering when we're going to go outside and find it gone.
My advice to anyone with bad credit or no credit, there is NO reason anyone should be treated as they are treated by this company. I really do not even feel they deserve 1 star since the car that I was sold, come to find out was $9116 on the lot, isn't even worth $4000. We're stuck paying for it and it has a lot of mechanical issues. We're still waiting on the settlement from our accident and like I said, we have 2 small boys that we need a vehicle. We were stuck in a hard place before, but now it's even worse.
I also want to state that their payment options are all a total ripoff as well... The only way you can make a "free" payment to them is if you set up automatic payments or go to their 1 payment office. Otherwise you're paying a fee of $3-$10 depending the route you choose whether it's one time payment, money order, Western Union, bank, check. It's outrageous. If I had known that this company was a complete and continual knock down for someone TRYING to build their credit back up, I would have bought another vehicle off of the swap pages and dealt with that. Please save your money and sanity and do not go with Credit Acceptance Corp.
I don't want to even put one star, this company doesn't deserve it! Signed up for automatic payment and they took way more than they should have and denied I made a payment and repossessed my car to a towing company not opened over the weekend! So I paid and still can't get my car! If you're one day late they call you 30 times a day! Never work with this company. They put in positions to repo it so they can sue you! I'm done!
This company is the absolute WORST!!! Just had my truck repossessed. I am paying $17,000 on a Jeep that is only worth about $3,500. I'm on a fixed income and have two kids. They don't give a damn! I don't recommend this business to anyone! Absolute rip off!!! Stay far, far away!!! You've been warned!!!
I am surprised by the negative reviews on the Credit Acceptance loan company. Mine was a positive one. I have been with Credit Acceptance for a period of one year before refinancing with my local bank. They are a good company to work with as long you make your auto payments on time. The key of success with this company is to pay on time. At that time my credit score was so poor that even my own local bank whom I have a relationship with over 10 years refused an auto loan. Credit Acceptance is a company that gives people second chance to improve their credit scores. I personally never had any problems with my own car which is Toyota Camry 2003 financed through Credit Acceptance. I elected auto-pay option once a month for peace of mind that the auto loan being paid before the "due date". The only downside is interest rates are high but this is what you get when your credit score is that low in the 500's range.
After a period of one year my credit score went up to the point I could be approved with much lower interest rate at my local bank. I would recommend this company for people who wants to rebuild their credit and be able to refinance once the credit score improves. This company reports to all 3 credit bureaus. Again the key of having success is to make your payment on time and never be late.
I have an account with Credit Acceptance because my husband wanted a 2008 Jaguar for restoration. It has been a nightmare. I now believe that this company is really not a lending company. The supervisors as well as the representatives that answers the phone communicate as if they don't have any education or home training, straight off the street. The attitude is that of a collection agency. Having the money for the payment is not the problem.
I have strokes and on two hospitalization lying in ICU, I received a call on my cell phone and the young woman on the phone told my husband that she didn't care about the circumstances of the late payment. She want to know when they would receive the money. By this time I was four days late. Then my mother died. While arranging for her funeral, I received another call. This time a young man said, "Well we all have problems, when will you send your money?" I will pray for these young people who are told that this way of life is acceptable. And I also pray for the people in charge (the decisions makers) who encourage and support this behavior.
This is the worst car loan company out there. I have auto pay set up and they never take out my car payment until 4 days past my due date, then charge $100 in late charge because my payment was late. How can my payment be late if they do not take it out of my account the day it is supposed to be. I have called numerous times to get this corrected and still same thing. I told them I wanted all my loan information, so I could get a new lender. Told me 3-5 business days I would get the paperwork. 6 weeks now and 8 phone calls later I still have not gotten my Loan paperwork.
Credit Acceptance Corp Company Profile
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- Credit Acceptance Corp