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I don't understand some of the negative reviews that I have read. One individual talked about being called relentlessly for being one day late; my note is due on the 9th but, I get paid on the 10th and send my payment automatically then. I have never gotten a phone call, email or anything from them about being late. Another complained about the interest rate being high; I was working with a conventional bank and was quoted an interest rate way higher than what I am paying now.
I actually think that these individuals who are complaining got behind and instead of calling and letting them know figured it would get better on its own. Another talked about being denied a second loan; something obviously happened during the previous loan that triggered the response you received or the company may have looked at your credit and tried to help you get a lower rate from a bank or something because your credit was better. You will never know anything until you're willing to ask.
My husband and I are now financing our third vehicle since 2007 with Credit Acceptance Corporation and we have had nothing but an extremely positive experience with them every time. Like many other people these days, we have a few blemishes on our credit (nothing major, but they are there and do lower our scores); however, we have always been able to obtain auto financing through Credit Acceptance with a low, affordable down payment, for which we are very grateful.
We just recently purchased a gorgeous new to us 2015 Nissan Xterra Pro-4X, which we were able to get with only $1000 down thanks to Credit Acceptance. It's been about 8 years since we've utilized this finance company (we paid off our last vehicle through them in 2011), but it sure is nice to be back with a lender who we know and trust and have a very good history with. I would highly recommend them to anyone who needs an auto loan, but may have difficulty getting approved through traditional banks. Credit Acceptance has always treated us very well and their customer service has never failed to be anything but friendly and helpful on the rare occasions when we've needed to call them. We will not hesitate to use them again in the future, and we probably will! Thank you, Credit Acceptance, for always being there when we need you!
To the absolutely ridiculous people who are writing negative reviews and complaining about the high interest rates, HELLOOOO???? Wake up!!! This is a SUBPRIME LENDER. You are clearly financed through this company because you either have poor credit or no credit and nobody else would finance you, so OBVIOUSLY the interest rates are going to be high. Goodness, people. Get a clue. You are literally embarrassing yourselves by whining and complaining about loan terms that YOU agreed to! Credit Acceptance is taking a chance on you, even though your credit history makes you a high risk customer, and giving you the loan that you need to get into a nice, safe, and reliable vehicle.
Here's a brilliant idea: Try actually reading your loan documents BEFORE signing them next time. Stop pretending to be all shocked by the interest rate AFTER you've already signed the documents and purchased the vehicle and acting like you're a victim, because you're not. It was YOUR responsibility to read through all of the paperwork and make yourself aware of the interest rate BEFORE signing. If you didn't like the interest rate or any of the other loan terms, then you shouldn't have accepted the loan, plain and simple. Instead of complaining, you should be thankful that you're even able to get auto financing with your credit history. Credit Acceptance is giving you the opportunity to rebuild and IMPROVE your credit or establish credit if you don't have any, so maybe the next time around you won't have such a high interest rate.
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.
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.
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Avoid this company and buying a car from them at all costs, they are worse then a payday loan company with their interest rates, should you chose them, I truly hope you do not fall on hard times, it is 7 years later and I am still paying for a car we lost because I got sick and lost my job and almost my life. I have paid $16k on a car they sold at auction for $3k, but was worth $10k. This is a hole you will never ever get out of. I thought this would never happen to me, well it did. Now in jeopardy of losing our home because they feel $10k in interest is acceptable after the car is long gone. Like I said, they will never go away. You couldn’t pay me to use them for another car. Funny how they can’t provide needed documentation and pass everything off to the law firm, however they don’t return calls either. Avoid avoid avoid...
Recently my daughter has been helping me get my bills taken cared of due to recently struggling with a stroke. I been out of work now 3 years due to mini strokes and now unable to work bc of it. I had a Chevy Trailblazer that burned up on me while I was driving on the thruway to work. MY ins pd most of it and I thought I had gap and I didnt. My credit report states I only owe them $1154 and never knew they took me to court. I never received any paperwork. So my daughter decided to help me out with this bill and they have refused my payment and want me to pay $3200 but will take $2300.
I don't have any money coming in and I'm fighting Social security for my stroke, I made several calls and now I'm being ignored. Either they want their money or they dont. Worst company to deal with. At first they were nice. Now I rather file bankruptcy and no one will get paid except for the lawyer filing my bankruptcy.. Beware look around before you go through this company.. I'm still trying to settle to pay them $1500 and that’s it bc I have nothing!!!
Credit Acceptance is suppose to be a second chance company or they advertise to be. I recently paid off my loan with them in hopes to finance another car, only to find out they require me to have a 3000.00 down payment. Even with a cosigner that has A-1 credit, they still require a deposit that's impossible. How are they a second chance finance company? I did get financed with only a 500.00 down payment through Nissan...not credit acceptance.
They are relentless at collecting for a car they took away from me without realistic chance of a pay off. Interest is thousands of dollars more than actual balance I owe. They do not care if you don’t keep enough money for yourself. Ditch the company and the anyone who’s works for these loan sharks. DO NOT USE THIS COMPANY!
First time buying a new car. They helped me get the car and I appreciate it. But when I lost my job, they would not work with me on payments or nothing. Not to mention that I paid my payments on time or before time before I lost my job. They won't take partial payments either. They came and repo my car and now garnishing my check for a car they came and got. And I was paying. I advise anyone to take caution when using them and PLEASE DON'T LOSE YOUR JOB!!!!
Credit Acceptance Corp Company Information
- Company Name:
- Credit Acceptance Corp