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I am so thankful for this company. They financed my car with NO DOWN PAYMENT. Interest rates are high, but it's a fair trade off for not needing anything down. All the bad reviews on here had me thinking I made a mistake, but turns out people are looking to blame a company that helped you get a car when no one else would. If a company makes a mistake on a payment be respectful when you call to complain about it.
I have had cable, phone, internet companies all shut off service for non payment some by mistake and others because I slipped up and did not manage my money right. Either way I cannot fault them for it completely as if my non payment was somehow their doing. Giving negative feedback is not going to help anything or make C.A. change their policies. It states in my contract as it probably does in yours too that if you miss one payment without notice they can repo your car. Read your contract before you sign so there are no mix ups. I have had great experience with this company so far and am so thankful to have a car.
If you are writing a bad review about Credit Acceptance that means you were or are in a position where no one else would finance you. I am not here to judge anyone although if you have gotten a loan from this company that means that for whatever reason your credit sucks. You know why. Not for me to point it out. For me I am so grateful for this company. At 51 I am semi-retired and moved to Mexico about a year ago. Shortly after moving there was hit head-on by a wrong way driver right at the boarder. My 2007 Camry Hybrid was totaled. I was ok and the people who left the California plated car fled the scene. My insurance was supposed to be in line but although I had Mexico Liability coverage My insurer failed to put an endorsement on my policy. Found out the car that hit me was reported stolen by its owner 3 days later. Their insurance company denied any claim as well.
My income is from driving Uber and Lyft. So no car no income. In addition I had a balance that was unpaid on the totaled Camry. Now to get financed with a lower than 500 credit score and income from Uber until I found a dealer who was able to get me financed through Credit Acceptance. I had 200 bucks and the dealer took a partial down payment, paid off 800 additional deferred and that was a year ago. The payment is high at 400 a month. Interest is high as well. I am able to drive for Uber and Lyft once again.
Got sick before Christmas and fell behind in two payments. Have another coming due. Think I can get it caught up in a week or two but they did work with me. Everyone who is writing all bad reviews well You're Financed and have a car from this company. Your credit sucks for a reason. Sometimes not your fault even. Mine was from bad life choices and some things I could not control.
It's crazy to me reading some of these reviews. I have never had any of these issues. For starters, yes the interest rate is crazy high. That is understandable considering if you're using CAP then your credit is probably terrible. They are a "subprime" credit lender. You can't have a terrible credit score and expect to have an interest rate that is low. It doesn't work like that.
Secondly, I missed a payment in December due to me spending 1000 dollars on a repair for my transmission. That's not their problem, they don't sell the car, they just finance it. I let them know the situation and they immediately were helpful and let me make up the amount. Yes, it was reported to my credit. I broke the deal we had. That's how financing works. I spoke with them over the next few months and made sure payments were made to make up the amount. They were helpful and when I was caught up it was all in good standing again on my credit almost immediately.
Their customer service has always been super helpful in my opinion. I've always been polite and respectful and that's always what I've gotten in return. You can't be mad at someone for doing their job. Lastly, YOU CANNOT BE MAD AT THEM FOR REPOSSESSING YOUR VEHICLE IF YOU DON'T PAY YOUR NOTE. I'm sorry but I don't buy the "I missed one note and they took my car". Yeah, I missed a note and they never once repossessed my vehicle. It's about communication. If you consistently set up a payment schedule to pay the amount YOU AGREED TO they will work with you. You should be thankful they even financed your car if you have bad credit. No other bank will even consider you. They are a stepping stone to rebuilding your credit so you can achieve lower interest rates in the future.
I bought a truck in 2016 and when I got it, yes my credit wasn't great but this company gave me a loan. I don't even think I paid attention to the interest rate because I figured it was going to be high, but the funny part is I have another car through the Credit Union and my interest rate with them is much higher than with my truck... go figure. Anyway to make a long story short, I missed a payment 3 months ago, how I missed it I have no idea until I looked at my credit report and sure enough I missed it, on time payer since day one. I'm single mom so how in the world am I going to double up, not happening, so I came to read the reviews on if they would work with you and GEEZZZUS, I was scared to call after reading all of these horror stories, BUT I called.
I don't know if we are talking about the same Credit Acceptance or not, but the lady I talked to HELPED me and she was nice and I told her I got on here to read the reviews and just about scared me into just taking the car back to the lot... but I didn't. She got me straight and on my merry way. When your credit is bad and you get a loan like this be thankful and if you miss a payment or something happens CALL them but when you call remember they are human too and if you call with an attitude you're probably not going to get the best service as I was humble because of all of ya'll lol. Have a nice day!
In reading all of these negative reviews about Credit Acceptance I felt I needed to leave one since my experience was extremely positive. I'll give some tips and specifics on my situation since I noticed some common problems in these reviews that possibly led to their negative experiences. I had just come out of bankruptcy and needed a "new" car. My old car was starting to need work and was behind in payments. So getting a new car and rolling the old balance into the new loan seemed like the most efficient way to get a fresh start. The dealership set up my loan with Credit Acceptance with automatic payments coming out of my bank account. I was able to set the approximate date for when the payments would come out based on my budget. I will say that this is absolutely the best way to do it. This way you're never late.
The interest was high which is understandable given the situation. I paid my loan on time every month for a little over 3 years and then, when my credit and finances had improved, I paid it off. The entire time Credit Acceptance was extremely helpful, efficient and accurate during my dealings with them. I never had any problems with them messing up my account information or anything. This is likely because I never changed my payment agreement. I just made sure the money was there every month on time for when the debit came. It's really just a matter of being responsible and disciplined with your money and making sure to set your major expenses as priority #1 to make sure things get paid on time.
I paid off the car and they sent me a letter letting me know the balance was paid in full. They offered to make me a new loan the next time I need a car. Overall, my experience was extremely positive and I'm grateful to have a company that will finance a person right out of bankruptcy to help them get back on track. The lessons to take away that will make dealing with Credit Acceptance (or any creditor), from my perspective having gone through tough financial times and recovered, are as follows:
1. Get your budget together on a list with all your major expenses - rent/mortgage, car, insurance, food, clothing, utilities, credit cards, etc. Include the monthly due dates for each item on the list so you know when things need to be paid. You can also include fun things like the movies on the budget but DO NOT budget all of the money. Always have a cushion for an emergency or something special (birthdays, a trip, etc.). You should also include a percentage, no matter how small, for savings. Even $10 a week can add up quickly.
2. STICK TO YOUR BUDGET. Don't run to the store as soon as you get your paycheck. When you run to the store, you're not paying YOU, you're paying THEM (the store). KEEP YOUR MONEY. Don't make YOUR money, someone else's money. You can budget for the movies, or the club, or whatever also. But stick to your budget. If your so-called "friends" don't understand why you can't party this week. Tell them you're getting your finances under control. If they won't understand (I said "won't", not "don't"), when they're not really your friends. Get some new ones. Preferably friends who are in a financial condition that you aspire to. It WILL rub off on you. :-)
3. Set your payments to arrive a few days early (ideally a week early). This way if anything goes wrong, you have time to fix it. You can usually work with the dealer to set up your payment to start on the day of the month that is best for your budget. Using online banking to schedule payments in advance has been a godsend. It has helped me to improve my credit score while also keeping control of when the money goes out in my hands.
4. Log in to each of your payment accounts at least once a month to check balances, transactions, due dates, messages, etc. This will put you in control of the account and give you notice if anything is wrong before it becomes a problem. If you haven't set up bill pay for the accounts via your bank, then you can pay (and schedule payments for the month) through each account's system. You can get your entire month's payments done in a single hour or so one time per month. Then have nothing to worry about with regards to when to pay what every week.
5. STICK TO YOUR BUDGET AND PAYMENT SCHEDULE - If you forget, see point 2. above. Keep notes on your sheet about when payments are coming out. I check my bank and payment schedule with each paycheck to make sure all the money is where it needs to be on time. Note: Having more than one bank account can also help. One for bills and the other for spending & savings. Or better, one for bills & savings and the other for spending. This way you won't spend your bill money. Just don't carry the bill money card with you. :-)
6. If you run out of money or things are too tight, you have to do 2 things: A. Cut back your expenses to below your take-home pay; AND (not "OR"); B. Find ways to make more money consistently. This is possible. Don't let anyone tell you different. If someone is, see point 2 above re: "friends". Doing 1 - 6 above is how I was able to get my credit back on track and pay off my car 14 months early. Now I have a low interest loan on a newer, better car. I hope this helps anyone reading and also sheds some light on how to get a positive experience working with Credit Acceptance.
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Not sure if this agency is completely incompetent or doing illegal things. They had a law firm (LEVY & ASSOCIATES) file a court order to garnish wages from a person that only shared A NAME with the individual they were suing for a car loan. The SS#, address, place of employment were all different, but didn't bother to verify any other information before going forward with the case. Will also be making a complaint with BBB.
Credit Acceptance gives you a loan, you pay it with their AUTO PAY system on time and they still REPOSSESS YOUR CAR!!! I HOPE NO ONE EVER USES THIS COMPANY. And every representative is very nasty. Please find another company to use.
I will admit, I became a deadbeat on time bill payer out from a depression from some loss love ones. I shopped and shopped and shopped....and shopped and became irresponsible. No excuse for ruining my credit world, but needed a car and chose a fancy car that no other bank was willing to finance, but then came Credit Acceptance, yes the APR was sky high, but I know why. This company worked with me throughout because my Car Insurance rates seemed unfixed and would make my world almost unliveable financially.
Credit Acceptance worked with me, but when you make a promise to pay with them just do so please. You will see them trust that you will do your part if you are late a payment. If you promise to pay on said date and don't call to update them you let days go by and your ride will as well go by. Be on the good ending. My car is now paid off and is why I am sharing an Honest experience with you. Take Care.
So my review is this. Automatically each month my car payment is taken out of my banking account, I thought everything was fine until I was repossessed in June for a missing payment in December. No phone calls telling me I had missed a payment or anything. I was always on time and my late fees were adding up and I wasn’t aware. No one really cared that my handicapped child was setting in a wheelchair as they were towing my car. No communication at all with the company and I’m not happy. At all. Almost wanting to contact Better Business Bureau because of the insufficient communication of the disgruntled employee who smack her gum while talking. If I could give no stars I would. Deana **
Credit Acceptance has been an absolute issue since day one. If you pay even one day late they harass with constant phone calls 7 days a week at all hours of the day. They take money they aren't supposed to and refuse to refund. They're money hungry and greedy. Any five star review that talks about how amazing this company is were all clearly paid to leave those five star reviews. Do not finance through this company. As an example of how they are, I have a $10,000 car and after interest I will end up paying them over $23,000. Stay away from them.
I took out a car loan at 18.99 percent and for two years I never missed a payment, my car was totaled and my insurance company paid over 5000 to them with a balance of 1000. I was told the gap should cover the balance but no details just told to wait for them to get ahold of me. I called numerous times and nothing. All of a sudden I get a phone call asking me how you wanted to pay around $400 that I owed. Absolutely no explanation of where this amount came from.
I was asked for contact information and employment status like I was trying to hide from them. I was confused on who I was even talking to because they were so rude and just demanding payment. I’m pretty sure at 18.99 APR they made their money off me so why they treated me this way is unclear. Not to mention they called me on a Saturday night while I was with my family. I don’t know what I did besides pay them all the money I borrowed and then some on time for them to treat me this way?
Please do not let these guys finance your vehicle. They are suppose to help you their customer with problems are issues with dealer. They refuse to do anything. I purchased from Lexington Automotive & Truck Lexington SC 2015. From the start problems. The clutch was going out. The dealer wouldn't do anything. Basically let the car sit at a shop for almost a week. Then said the car was fine. But the car was never moved from the spot. Had the same exact mileage as when I parked it. Contact CCA and basically same deal. Nothing. So I told them to come and pick it up. Now it's going on 4 years since I vs as it called. Apparently 2018 it was affect by natural disaster bal-0. Then I just got hit on my credit 57 points for a late payment.
The 3 major companies have different info from CCA but always say it is correct. Do not conduct business with CCA or any dealerships that use them for financing. Lexington Automotive is now closed but another car sale is occupying the same space. It is probably same company just changed the name. Run away if you see Credit Acceptance Corporation as your finance company. You're dealing with a pit of rattlesnakes. Buyer beware.
I absolutely love Credit Acceptance. I recently just got approved for ANOTHER loan with them. This will be my second time getting a loan with them. They have been very accommodating to me even when I lost my job and had to make arrangements. Life is hard and sometimes having a company like this that will help you when you need it most is refreshing.
Paid off my loan in 3/17, received a title in mail. No other paperwork. TN law is that lien holder is to submit release paperwork to state not to owner. 2 years later when I moved to new state found out that they couldn't use my title because it had a lien on it still. Took me 8 months going back and forth with Credit Acceptance and State of TN to finally get a clean title.
Credit Acceptance stated to me on phone that they don't know all the laws in the states they do business and are not responsible for not complying or any fees I may have had to pay due to their "lack of knowledge". Any loan company should know the laws in the state they do business in. And should be held accountable for not knowing.
I paid off my loan with these guys in December 2018. I never had anything financed before and didn’t know how to get my title. I called them 10-15 times getting all sorts of different answers (lies) demanding my title. Finally had my dad call and they told him they mailed it 2 days before. Envelope arrived today with a letter stating they “lost” my title. After seeing these reviews and my own experience my parents are perusing legal action and possible class action lawsuits. There should be absolutely no reason this company should be allowed to do business.
I use them to finance a truck that ended up being a piece of junk am I finance charge was $1,800 more than the what my sticker price was for the vehicle. Their dispute resolution team is a joke. They do nothing to help you. They tell you everything is documented and recorded. I have a lawsuit with the dealer for his negligence to fix issues with the truck and disclose them and lied about taking care of them when brought to his attention. No Credit Acceptance don't want to supply me with the records of my complaints trying to say they don't have a way to access those files, print them, copy them or send them even though I was told numerous times by supervisors and other staff that if I was an attorney they would supply them. I got seven Grand in repairs over four months paying $20,000 after all my finance charges for a $6,000 vehicle the $350 payments a month. What a rip-off. What a joke. What a scam.
I had bought a KIA from a car dealer in Pennsylvania in April 2016. When I got the car my credit was in excellent standing. I missed a few payment. Due to that they was overcharging my account so I stop the auto payment from my account and just call to pay. Long story short my pay period has changed and I asked to make the payment on a different date and they never told me that it would be an interest charge if I did. So I was been charge then the interest was on it and no one had called or left a message until I was home and heard the alarm of my car went off and I look through my window a tow truck was taking my car up. Then he gave me a number to call to get my truck next day. I called and they told me it's interested of 6 something almost 7 when I went to go get my car 1200 and changed to get 300 dollars for tow company.
When I called the customer representatives are nasty then finally I had ask to speak to a supervisor and he said he don't know how that happen so I said, “Am I going to get a discount?” They said no. Remember we have other bills and most people works minimum wages to survive. I understand we do need motors to move around, now I got into a car accident in October 4 last year. They came and got the car then when I called they told me they will fix it and tell me what I owe or if there's no money they will also let me know until this day. They harassed my phone 10 to 15 times a day until I just tell them to leave me alone. Now only couple months now no letter or nothing only to get served with a summons of 12,000 something dollars.
So ok I pay that 12000. Am I getting my car back but we will have a discussion with my lawyer cause this company is nothing but fraud thieves and tricks plus I was never late. All I did was change the date and they never told me it would affect anything but when I called they said it’s not their responsibility to call customers. Never heard of such ** in my life where a customer doing business with a company and don't call if there's and issue. After I settle this I will never used this company or even want to remember it exited. All fakes and lie and want to take away people hard earn money plus screws people’s credit up robbed their money and then served people with summons. Worst company to do business with.
Horrible, terrible, bad, the worst and did I mention horrible? They don’t care what you have going on. If you’re a day late they’re coming to snatch your **. You know when you have loose change in your pockets, and it falls in between the seats when you get in? Yeah that’s Credit Acceptance robbing you blind every month. Don’t ever ever ever ever come to this company thinking they’re here to help you. This is beyond me big fella. I wouldn’t give them the toe jam between my toes if they asked.
I purchased a vehicle and my 1st payment wasn't even due yet, I called them to change my payment due date because my rent comes out of my 1st check of every month and I wanted my car loan to come out of my 2nd check of the month. They would NOT adjust my due date! WHAT THE **??? Worst customer service ever! Will never do business with them again!
This company should not even be in business. I get it. I had no credit. I didn't have bad credit I just didn't have any. The car lot I bought my car from used Credit Acceptance, and I had previously paid off a car that was financed by them. Needless to say life happens and I wasn't able to pay. Before I was late on my payment I called them to tell them I would be unable to pay and asked them to come get it. It sat in my driveway for two months with them calling every other day, and me continually telling them to come get it. To make a long story short they have been garnishing my wages for 2 and a half years to the tune of 11,000.00 which is 100 times more than the car is worth and I'm not even sure how they can do it. But I can tell you that when I was looking for another car if the lot was working with Credit Acceptance I would just walk out. NEVER will I deal with them again.
This company refuses to put anything in writing other than the original loan agreement. I was paying an outstanding amount (due to being unemployed for a time) and a payment was 1 day late... Let me repeat that...1 DAY LATE! And they "reset" the agreement without my knowledge. Then got pissy with me because I wouldn't take their calls while I was at work and even had the balls to ask me if I had a work number where they could reach me. Apparently they are unaware that they cannot harass customers at their places of business. I cannot wait until this loan is paid off and I am done with this crooked company and their shifty business practices.
Today 4-4-19 I received a FAKE check that had Credit Acceptance as the Payee. My bank called the bank that the check was drawn on, and was told the account is nonexistent. I called Credit Acceptance Corp. to tell them someone was using their check stock to commit fraud, they did not care.
SO MANY unflattering things to say about this company. My mother had a vehicle loan through Credit Acceptance she passed away about 6 months ago with this loan still open. When I finally get around to sorting her things out (meaning I still have her vehicle but no one has made payments) I call Credit Acceptance several times and get several different answers but my favorite one and the most recent conversation with them that leaves me dumbfounded about the people and kind of company this is, is when I tried to find out why they haven't bothered to pick up her vehicle after providing death certificate and address of vehicle several weeks ago - I was told - 'I'm sorry you are not listed on the account so I cant help you.' No ** Sherlock!
I just told you she was deceased and I've already provided credit acceptance corp her death certificate! I wasn't trying to get account information I just want her vehicle picked up so my family can get back to grieving properly without seeing her car every day and being reminded every time we see this vehicle that she is no longer with us. This company obviously have no respect for human decency. If you can get a loan from any other company I would highly recommend you do so.
They claim to be very customer-oriented. Don't think that by calling and working out terms with them will be honored. They will report you as late and just leave it on your credit report. They don't want you to improve your credit. With good credit, you don't need them so they will just scar your report for years. Buy elsewhere, there are many other options.
Insurance paid my car off, but Credit Acceptance said I stopped making a payment and messed my credit up. I HAVE ALWAYS PAID MY CAR NOTE ON TIME OR BEFORE TIME. I have bank transactions with proof. The Customer Service Representatives have no sympathy.
This company has overcharged me by $625!! I have called for 3 weeks inquiring about my refund on this overpayment. Finally, today on March 28th of 2019 was told by a customer service representative that it will take 21 to 30 days for them to refund my money. Had I been late with a payment they wouldn't allow me 21 to 30 days!!! They would have just simply sent the damn Repo Man to my house. Now they need 30 days to make a refund... What they need to borrow the money? STAY AWAY FROM THIS COMPANY!!!
While the process to actually get the loan was easy enough, what subprime loan is actually difficult to receive? My problem with Credit Acceptance began when I attempted to transfer the title to a different governing body (from MD to DC). I went through all the appropriate steps, and sent all the proper forms. When I finally went to the DC DMV to get my new plates, I was informed that the Creditor had not sent the appropriate forms to the DC DMV. Just for reference, the request to Credit Acceptance was made on 10/27/18, and my trip to the DMV was on nearly 3 weeks later.
This of course began the back and forth communication with the Title department, and their excuse? "We were never sent the proper document from MD to begin with." Well here it is 3/27/19 and I am still without a proper tag on my vehicle, but have gained nearly $1000.00 in citations for a situation of which I am not in control. A company is best described by the worst case scenarios in customer service, and while you may take a gamble with a subprime loan, if it is from Credit Acceptance, you may as well burn your money for better results.
I purchased a car that was worth $7000 of the lot. I put down 30% of the value on the car and was still forced to use this company as a middle man because I had no credit. I took it all in stride as a no-frills way to build my credit. How wrong I was? I was hit with a interest of 21% for a older vehicle. The car had no way of being refinanced because of the age and Credit Acceptance wasn't willing to restructure my contract to make the payments more manageable. I couldn't sell it privately because of the high payments and if I turned it back in, I would lose everything I put into it plus I wouldn't get anything significant for it.
I was driven crazy with the harassing phone calls (over 50 times a month) and the constant threats of repossession and litigation. The car was ended up being repossessed in January. I was constantly misled and lied to by their agents on how to get the car back and where the car was. I paid over $500 dollars to have my car released in March.
When I had arrived to pick up the car, all my personal effects of value were gone and there was damage all over the body and my passenger side mirror was hanging off. Now they are trying to accuse me of damaging my own vehicle and are basically absolving themselves from any responsibility. They talk to you like you are a child and insult your intelligence when you call them out for being a predatory lending agency that preys on the poor and the desperate. Needless to say, I didn't take the car and am currently in talks with a lawyer. Litigation and tort is the only words they understand. If everyone pursues litigation against them. They will be out of business and the executives arrested for embezzlement and other criminal charges.
I've had this good ole' truck for four years. We got lucky and got a good truck. Made a payment every month. Yes, it wasn't on the date they wanted, but it was made in the same calendar month. Today, I had 2 (TWO), lemme' say that again: TWO, payments remaining and that's the end of the loan. Finito! Done with! Through! Loan paid off! Well, lo and behold, who may be at my door? Well, I shoulda expected this - It's the ** repo man here for the truck! WTF?! Does Credit Acceptance have a crack dispenser in the break room? Are they huffin' paint in the board meetings? Was the CEO the inspiration for "Rain Man"? These people are off the chain. Buyer BEWARE!
Bought a car 9-24-2018. What's the weather you say. The motor's already gone out of it in the warranty deed and covered and Credit Acceptance didn't want to do anything about it. I'm very disgusted with this finance company and Morty pot company. They work hand-in-hand together. Pathetic.
Credit Acceptance Corp Company Information
- Company Name:
- Credit Acceptance Corp