About Credit Acceptance Corp
A link has directed you to this review. Its location on this page may change next time you visit.
- 3,771,570 reviews on ConsumerAffairs are verified.
- We require contact information to ensure our reviewers are real.
- We use intelligent software that helps us maintain the integrity of reviews.
- Our moderators read all reviews to verify quality and helpfulness.
For more information about reviews on ConsumerAffairs.com please visit our FAQ.
I had generally good experience with Credit Acceptance, UNTIL I did a re-fi with another lender. My new lender cut a check for the payoff (no late payment) on 8-26-2021 for $11,900, the payoff was $10,900. I called Credit Acceptance a week later to find out when they will cut me a check for the $1000 over payment, was told that they have to 'investigate' LINE BY LINE of the pay off to make sure that all the 'is' are dotted and the 'ts' are crossed, which could take at least a month or two. It is now a month later and still no sign of a 'check in the mail'! Sounds like a 'cock and bull' story' that Credit Acceptance is making up. It appears that they will have one heck of an office party with my $1000, which BTW I am already paying my new lender as part of the re-fi! I wouldn't trust Credit Acceptance as far as I could throw them!!!!
I have had many financial obstacles in the last few months. Credit Acceptance has been more than fair in working with me on my payments. The key is that I have stayed in contact with them about my circumstances. They have worked with me every time to keep me on track with my car payments. It is a difficult time for a lot of people right now and I feel that they have recognized and taken steps to help people during this pandemic.
They are the worst. I’ve been paying my monthly payments on time. I had $50 in late fees. These pieces of dog trash reported $50 in late fees as a 30 day late payment on my credit report. I called them and they explain that late fees are considered payments and that’s why they reported it 30 days late. All of my contractual payments have been made on time. They are trying to destroy my credit because of $50 in late fees? During hard times my priority is to make the monthly payment. Late fees can be taken care of when I have extra cash. They don’t give a damn. But guess what I’m a warrior. And when I fight I win.
They will not destroy my credit rating with a 30 day late payment. I will report them to the consumer financial protection bureau, the attorney general, the Better Business Bureau and I will file a lawsuit they will not win. I have saved every piece of conversation every piece of correspondence and I have documentation to prove that my payments were made on time. Do not do business with these people. They are crooks. They run their business like a third grade dropouts. They have zero intellect and zero intelligence.
Below are issues with the vehicle credit acceptance is financing and they refuse to cancel the loan when they should have from day 1. I've called several times and reported the fraud done by the dealer and how the vehicle sold is a LEMON. I was a co signer for a deal, we traded in a paid off vehicle Mustang and a Fusion that was being financed and owed money on. The first day of signing for the vw cc we got from used Nissan thoroughbred it smelt of gasoline and we took it back and was advised the car had a gas leak and they fixed it but it was brought to our attention it needed new control arms so they replaced them.
However after the car started going into "limp mode" and the check engine light came on with a red steering wheel light came on, my bf was upset and clearly had legit reasons to be, the car was not wanting to turn on. It would just crank and the smell of gasoline, we left the car at my parents and drive to nissan in my Lexus and was told it was our responsibility to get the car over to them for them to look at the car, they would not tow it, we drove back to my parent's house and the car turned on but it was puttering really bad, but, we had to get it to the dealership we got it to thoroughbred and went to check on it after a couple days and I was told our car was taken HOME by a tech to be "test driven" and brought back the next day. No one cared to make us aware before this was done nor ask our permission to have a tech take our car home we just purchased.
We got the car back. They said they couldn't figure out the problem. I had called several times because it was not right. Everything we had gone thru with this car we were sold that was "tip top shape " and had "no issues" then a couple days later he got a call from finance and the man said "We noticed on your contract has the wrong amount. We put $4500 for your trade in and we had to pay the bank $6119 and either you pay us or we are going to report you to collections." Since that call they blocked our phone numbers from calling the dealership, we hadn't gotten the plates because they put the wrong address on the registration.
The GM said I could go down there to get a paper plate after the finance cmpanty had called and the receptionist said she was told not to talk to accept nor take calls from us nor the bank and the bank sent their market manager go to the store and we couldnt get a hold of anyone and my bf was told he couldnt return back to the store so the gm called me and told me I could come to the store to pick up paper plate which I did but from the first day we got this car we gave wanted our money back, anyone and everyone would, and everyone says they are so sorry and they will help with whatever is needed, if that's the case then take this car back and give us our money back because us and our 1 and 2 year old kids didnt and dont deserve this and should not have to go thru this any longer, actions speak louder than words, take the car back and give us our money back. Back up what you're saying to me.
There's so much more but I'm just so sick of the entire situation just as anyone else would want the dealership should be more than willing to give us our money back as in the down payment and the the cost for the trade in and mustang we traded in. All I want is the loan cancelled and to be given a refund of the down payment and amount of the trade ins which is as simple as sending a cancellation letter to the dealer and refund my money.
I set up an agreement for a late payment - when I tried to make my $36.00 payment online, something in the system kept taking my payment and sending it back to me.. I contacted an agent at credit acceptance who kept referring me back to my debt card company - who then referred me back to credit acceptance - this back and forth issue happened approximately 3 times.. No one could tell me why my payment would not go through.. Long story short - by the time I was able to get my payment through, it was later than the time I made my agreement for - their response to the situation was to report a late payment on my credit report, which made my credit go down 42 points.
In October 2019 I financed a Toyota through them. In March 2020 Covid affected our financial situation and I lost my job. I called them and at first they were somewhat understanding. I had set up a payment plan with them and they STILL report me as late payments to my credit bureau. This is not right. They call 10 times a day for no reason. Stay away if you can. Wish I knew sooner.
I got Gap and it suppose to pay your car in event it a total loss. In the end I got nothing from them. Horrible company. There got to be better companies out there. All their reviews are bad and now I know why
I had went through Tim ** in London Ky and got a car and making my full payments on time with Credit Acceptance and covid hit so they done the deferment, going good then they show up and repo the car.
I have spoken to representatives on more than one occasion. They are rude and difficult to work with in regards to speaking with account holders. They have refused to speak to my husband in the past. They have proceeded to cancel our autopay due to a payment arrangement that I requested. They told me that they have to speak with him to get permission to use a debit card to restart autopay. He unfortunately can't do that due to the refusal to speak with him even though we have a joint account with Credit Acceptance. I personal do not recommended Credit Acceptance for anyone that is looking for an auto loan.
I was 83.00 short on my payment and I called and explained why I was late and they reported it to the credit bureau. First time in 2 1/2 years and I paid it within the 30 days. They really could have worked with me on this. Never again will I want another loan with them.
I have a loan currently with Credit Acceptance and it was the worst mistake I could have made. Now 4 yr term hanging over my head. It does not pay to be desperate with car buying and they don’t care if you late or jobless even during the pandemic! Blood suckers and heartless.
I was always a week or so late with my payment, but once I became unemployed, my payments became even later. They would call every day until I set up some kind of payment arrangement or gave them some sort of payment. I was never required to provide them with the total amount, not only that they didn't repo my car when I feel like they really should have. They worked with me, the customer service was excellent, and I appreciate them being so patient and lenient. I'm not sure why everyone else had a bad experience with him, but my experience was terrific. The only issue I have is I haven't received my title. Thanks, Credit Acceptance.
In short, horrible company. Massachusetts already did a class action lawsuit and I am looking into it for Indiana. We over paid for the vehicle we had. We got it running and we traded it in. We still owed $ 2,800 which we did the 10 day payout and it was originally 2,100 and within hours that amount started going up. We were lucky enough to have 2 trade INS. A dealer wanted them for an Lexus LS 430 that we wanted. They paid the remainder balance of the vehicle we had that was barely running AND THE PHONE CALLS ALL DAY FINALLY STOPPED. That last $2-3 grand you just can't get away from. Never ever again!
The company was not helpful during the closing of the world and even now. Due to me not working I am trying my best to pay my payments with what little money I have from unemployment and it's not easy. I too like many others have other bills to But this company keep calling when I didn't make a payment but knew my situation. This company does not have refinancing which I know my payments would be lower. Then if you pay online it's a charge but you do auto pay no charge. Where is the compassion. It wasn't my fault that the world got shut down. This company to me does not honor or again have compassion for its customers. I am very disappointed and annoying by the phone calls over and over. Makes no sense!!!!
So I bought this 07 Ford 500 back in March of 2018. I made payments on time, then I wasn't able to make payments or borrow money from anyone. Fast forward to 2019, they had repossessed my car in October. I had to pay $150 in order to get my wallet with my license out of it to show proof of ID. Then I made the mistake of redeeming the car back because I had no other transportation for my 5 year old and myself. My payments went from 214.30/month to 400/month. I wasn't able to afford that either. In 2020 I had got into a car accident (being a pedestrian) and fractured my hip.
They were very inconsiderate and had the audacity to ask if I could borrow the money from someone else and I was out of work on temp. Disability at the time. I told them no, and they made up a payment plan that they forced me to do. I agreed only because I had no choice, in August of 2020 I was able to get a new car not financed through anybody except the actual dealership (local) because of back pay from Disability. I asked CA to come take the car because I had another one and the car had too many issues and I just couldn't afford their payments anymore.
From the call in August, they never came on time, they waited until October to come take the car and reported on my credit report that it was an involuntary repo. I looked on Credit Karma and they got 2 different reports on my Transunion and my Equifax report. I have pics to prove it, whatever you do...don't ever go with Credit Acceptance, they disposed the car and said it was worth 1200 and they took the value off the car and they still want me to make payments and they're still reporting to the credit bureaus and saying I'm late but the account is closed.
Updated on 4/27/2021: First, I cannot stress enough to keep anything and everything that you have received from Credit Acceptance or in the event of an accident, all papers pertaining to that accident, so you have it in your possession should you need to battle them over anything. The hit-and-run accident that totaled my vehicle was on March 8; GAP insurance paid their share on April 21, so expect that GAP process to go quite a bit more slowly than the settlement presented by your auto insurer. Yesterday I received a statement from Wynn regarding my GAP payout, and this is where I cannot tell you enough: keep anything and everything that applies to your vehicle, payments or insurance.
Upon reading the GAP coverage details, I discovered that Credit Acceptance listed a higher amount due on my vehicle than either of the payoff quotes run by me and by my insurance company--and not by a small discrepancy, but rather a good $600 discrepancy. Even looking at my credit reports, the amount shown as owed to Credit Acceptance did not match their claim of what I owed when they processed the GAP insurance.
I was also docked for "missed payments". Not one time over the entire life of the loan was I late. I regularly review my credit reports, and not once did Credit Acceptance report me as being late, nor would I have ever allowed the account to become late, because I was terrified of Credit Acceptance. The GAP payout was also docked $450 for the "condition of vehicle paint and stains on seats", but my insurance company had already docked that out of the settlement they sent to Credit Acceptance...so in other words, Credit Acceptance docked me a SECOND time for the same line item.
I'm pretty petty and hot-headed when it comes to fighting over what I feel is incorrect information, and the customer service rep quickly transferred me to a supervisor. While professional, the supervisor did not give proper explanation to why GAP was reporting a different amount due (and no, I don't believe that I racked up $600 in interest charges in a month's time) and could not give me a date for this "missed payment". I was also told that yes, it was fair to dock me a second time for "vehicle condition", as GAP will not cover that, despite the fact that I feel it should not be relevant when my insurance company already docked my settlement paid to Credit Acceptance for the same reason. This is toeing the line of "double jeopardy", given that I had already been punished for that once.
Speaking to the supervisor, I told her that I was well aware that Credit Acceptance had yet to close my account, despite my final payment a week ago and my speaking with two reps regarding this matter, and it's suddenly quite clear to me that the other reps didn't "forget" to request my account to be closed--it's all about Credit Acceptance leaving your account open to accrue more interest charges, despite the fact that the vehicle was paid off by insurance. Credit Acceptance would very much like to charge you interest on the interest that is left on the entirety of the loan term. Credit Acceptance wants to be the only bill in your life that matters, for the rest of your life.
Neither the customer service rep nor the supervisor could provide me with information on how they reached a loan amount that is $600 more than my payoff quotes and $600 more than what is shown as owed on my credit reports, which is an amount that is reported monthly by Credit Acceptance. Neither the customer service rep nor the supervisor could give me details on this "missed payment".
I demanded that the supervisor close my account immediately, as that was my third phone call attempting to do so. This morning I found that when I look at my account online, I can see that the account has now been closed with a zero dollar amount due. I will, however, be await my letter telling me the account has been paid in full and closed, as well as waiting to be sure Credit Acceptance doesn't ding my credit with their "missing payment" line.
I am truly exhausted from dealing with them, and feel strongly that Credit Acceptance should be on the line for giving Wynn GAP an incorrect payoff amount ($600) and docking me for a payment I never missed ($320), but honestly, I'll just have to let it go, since it's apparent that I could easily spent hours on the phone with these people and get nothing but a run-around and a lack of answers.
Original review: Let's be honest: anyone who ends up financing a vehicle through Credit Acceptance got to that point for a reason. We all have our reasons for how our credit went so wrong; mine was the loss of my mother and a child within a couple of years of each other, followed by own battle with cancer.
Just like every other reviewer, Credit Acceptance was my only choice for financing a vehicle, as I lacked solid credit of my own, in addition to lacking family or friends I'd willingly burden with a request to cosign a vehicle. Going with Credit Acceptance was my only option at the time, and I was assured by the dealer that I'd be able to refinance in a couple of years (spoiler alert: don't count on it, since Credit Acceptance's outrageous interest rates will likely result in negative equity in your vehicle, hence making it nearly impossible to refinance).
Before my first payment came due, I did a search of Credit Acceptance...and after reading reviews, I became absolutely terrified, and given that almost nothing scares me, that says a lot. I can genuinely tell you that I lived in fear of Credit Acceptance for nearly three years, but in that time, I learned how to work their system with virtually no problems. Here's how I did it:
First, accept that you ended up with Credit Acceptance because of your own credit history. Before you established a loan with Credit Acceptance, they had no impact on your poor credit. That was all you, and the decisions that you willingly or unwillingly made due to unfortunate circumstances. Is Credit Acceptance going to torment you with outrageous interest and payments that are so high, it will be nearly impossible to keep up? You bet. But you ended up here for a reason, and try to see this as an opportunity to rebuild your credit while having a (hopefully) reliable vehicle to drive.
Second, in no way did my dealership demand that I buy any particular vehicle, nor did Credit Acceptance. My vehicle decision was based solely on what I felt I could afford. Could I have purchased a newer, more expensive vehicle through Credit Acceptance? Absolutely, but my dealership ran monthly payments for me on various vehicles, and it simply wasn't something I was willing to do. Never at any time was I forced to purchase a sub-par vehicle, nor did Credit Acceptance have any input on what I did purchase. My vehicle was newer and I was lucky that in the nearly three years that I had it, I did not have any mechanical problems. If you purchase a vehicle with major mechanical issues, don't blame Credit Acceptance. They didn't have any input, nor would they intend for you to purchase a vehicle that becomes impossible to maintain while also trying to keep up with Credit Acceptance's high payments, because frankly, their interest is in you continuing to make those monthly payments. Do your homework before you purchase any used vehicle, and have an independent mechanic take a peek if you don't have the skills to do so yourself.
Third, the phone calls? You can stop that. Simply go on the Credit Acceptance website and revoke permission to call your number. I left mine active for texts, but after I figured out I could revoke permission for phone calls, I never got a single call. It was that simple. Another way to make the calls stop? Simply log into the online portal and schedule a payment, even if it that payment can't happen for two weeks. Not once did I receive a call or a text even if my payment was past-due, so long as I scheduled a payment date and amount in the payment portal. I believe there was approximately one time that I forgot to make my payment on the due date, and the calls started by 8:15 the next morning. I simply scheduled a payment online, and my phone didn't ring again.
Fourth, can't make your payment on the due date? Just call the 800-number, use the automated menu to select "payment options", and wait for the prompt to make a payment arrangement. You can enter a date up to 10 days after the due date of your payment, and during this grace period, I never once received a phone call, text or threat to repossess my vehicle, nor was I ever charged a late fee. There were even times when I was not able to make the full payment on the scheduled payment arrangement date. I simply went into the online portal and paid what I could--one time it was a mere $25--and once that payment cleared, I entered the remaining payment amount for a future date. Never a call, never a text, never a threat, never a late fee. I never went more than probably 25 days after the due date of a payment without having that payment paid in full, and never once was it reported as delinquent on my credit report.
Fifth, if you do have to call...brace yourself, but it probably won't be that bad. I called and spoke with a rep less than a handful of times--prior to my figuring out how to make a payment arrangement through the automated system--and of those times, only once did I have a rep who spoke harshly to me and gave me the "is there anyone you can borrow the money from" line. I'm not one to mince words, and I actually laughed out loud at this suggestion, because as I told the customer service representative, I sure wouldn't be financing a vehicle through Credit Acceptance if I did indeed have someone I could borrow the money from. The other times I had to call, I was treated respectfully. If you are calling because your payment is past-due or you know you will have to make your payment late, you will be likely asked if you can pay $100 at the time of the call. I did do this, and that likely helped, but at the same time, all but one of their reps was polite, respectful and professional.
Sixth, at the time of purchase, if you do nothing else, please buy the GAP insurance coverage. Credit Acceptance's GAP insurance is pricier than virtually every other company, and certainly pricier than what my insurance company offers, but Credit Acceptance requires GAP insurance to be purchased through Wynn. While the extended vehicle warranty was worthless and absolutely not something I needed to purchase, the GAP coverage was a lifesaver, as after almost three years of paying on my vehicle, it was totaled in a hit-and-run while parked overnight. My insurance company covered the vast amount of the loan, but there was a small chunk left over. Here's the great thing about the GAP insurance: they cover your insurance deductible, so when your insurance company docks the vehicle payout with that deductible, GAP insurance comes in and covers it. This came in handy because while I didn't have a sizable amount that wasn't covered by my insurance company, the remaining amount was pretty close to being equal to what I paid for the extended warranty...which is a purchase contract line item that GAP will NOT cover if your vehicle is a total loss. However, with GAP covering my $500 deductible, that took care of almost fifty percent of the extended warranty amount, so I wasn't stuck paying out-of-pocket for an extended warranty that expired two years ago. However...
Seven, always fact-check Credit Acceptance. I obtained two payoff amount quotes (one was generated by me, using the option on their website; the other by my insurance company), so I was well aware of my payoff amount on the date of total loss of my vehicle. I was also aware of what my insurance company paid to Credit Acceptance, as well as the amount paid by GAP insurance. When I called Credit Acceptance to get the actual payoff amount (if your vehicle is a total loss, the online portal will still show an exorbitant amount, as it shows the amount with the full amount of interest due over the life of the loan), I was given an amount that was about $500 higher than the amount that I had calculated (payoff quote minus insurance payout minus GAP payout). When I stated that I wanted a written detail of how Credit Acceptance reached this amount because it did not match my records, the representative quickly did some math, stumbled over some words and offered to "settle" the loan for 20 percent of what they claimed I still owed, if I was willing to pay it immediately. In the end, I paid $156 after my insurance and GAP payouts, and I was more than happy to pay that amount to end my relationship with Credit Acceptance. Side note: I am still awaiting the official papers from Credit Acceptance stating the loan is paid in full, and I do watch my credit reports like a hawk, so I will update if I unearth any negative information posted by Credit Acceptance that indicates their failure to properly process and close my loan, but so far, so good.
Eight, do not hesitate to reach out to your dealership if you are having issues with Credit Acceptance. Upon learning that my vehicle was totaled, I immediately contacted my dealership, and they took over assisting me with Credit Acceptance and the processing of the GAP paperwork (and handling all of the financing for my new vehicle, of course). If you have a poor experience when dealing with Credit Acceptance directly, do not hesitate to reach out to your dealership. Both my salesperson and the finance manager were more than willing to reach out to Credit Acceptance on my behalf, and when I mentioned to the finance manager that I wasn't entirely impressed with the attitude of a customer service representative I dealt with after my vehicle was totaled, he indicated to me that he would be speaking with his Credit Acceptance contacts, because let's face it: your dealership benefits by financing your vehicle through Credit Acceptance; your dealership really does not want your vehicle back; and your dealership really wants you to come back to them when it's time to upgrade or replace your vehicle. Work with them, and they will work for you.
Nine, I see reviews where individuals state that they are no longer going to continue making their payments to Credit Acceptance out of anger or spite. Don't be one of those people. In the words of my salesperson, "Credit Acceptance is basically a last chance...if you don't pay Credit Acceptance, it's almost guaranteed that you will never be able to obtain a car loan again." Is it fair or fun to pay a ridiculous amount of money to Credit Acceptance every month because of their outrageous interest charges? No. But do you REALLY want to deal with the wrath of not paying Credit Acceptance, between the phone calls, the repossession threats, the lawsuit and garnishment threats AND the threat that you may not be able to finance a vehicle again in the future? Of course not. Pay your monthly payment. You signed the contract; if you fear that you will be unable to fulfill that contract, walk away. I even made a payment after my vehicle was totaled as I was awaiting the GAP payout, because I was told that if I'd made a payment that went above and beyond what was owed, it would be reimbursed by Credit Acceptance, and frankly, it seemed easier to make that payment than deal with potential consequences. Don't take the chance. Just make your monthly payments, even if you are consistently making payment arrangements and--gasp!--paying after your due date.
Ten, life happens, and we surely have learned that over the past year. Know from the start that Credit Acceptance will not offer you any assistance or grace. I fall into a very fortunate group that did not experience a loss of income during the pandemic, even as I was battling cancer at the same time. I did also contract Covid; again, I was lucky as my employer continued to pay me during that time. I contacted Credit Acceptance because contracting Covid a few weeks before Christmas after spending a year battling cancer was pretty inconvenient, and I did want to make them aware of the fact that I was affected by Covid, despite the fact that I was already aware that they were not offering payment deferrals. It does not reflect well on Credit Acceptance that they are so unwilling to work with customers even during the most dire times, but Credit Acceptance is not your standard lender. They are a last-chance lender that one would only use out of desperation and a full and complete lack of any other choices, no different than a payday lender. Let's face it: they are a huge company that has been established for many years. They will sue more than they will ever be sued, and they know their rights and usury law. As an individual, you will not win a battle with Credit Acceptance, no matter what story you have that hinders your ability to make timely payments. Know this ahead of time, and try to plan. Even when I was home from work for nearly three months following various cancer treatments, I knew that paying Credit Acceptance had to be a priority, just like a home mortgage or rent. Establish your emergency fund; no one wants to use an emergency fund to pay Credit Acceptance, but it's far better than the alternative of losing your vehicle to repossession for non-payment and still owing thousands on a vehicle you no longer own.
Building and rebuilding credit is slow, hard work; use your loan with Credit Acceptance to make the best of this fact by staying current with your payments. If you are current--or as experience has taught me, marginally late--you will literally never hear from Credit Acceptance or have any need to think of them apart from making your payments once a month. I can't say that making every payment on time did astronomical things for my credit score, but I also have massive grad school loans that throw my debt-income ratio fully out-of-proportion. I was, however, able to qualify for a much more fair vehicle loan through a company that is NOT Credit Acceptance after my vehicle was totaled, and if you stick with it, you will, too.
I got a loan in Jan. 2020 for a 2009 Honda Accord 2 dr. Fast forward to March 2021, the front axle, ball joint etc, broke while I was driving. I lost control of the vehicle. After inspection of damage, it's being ruled as a mechanical failure. And is not covered by my insurance nor by my GAP. So now I am left with a $4000 balance on my loan to pay off for a vehicle that is totaled, it would cost more to fix than it's worth. NO ONE at this company will help me. It's either I pay off the loan or do a voluntary surrender, which is still considered a repo and will destroy my credit.
This company does not care about customers. What happened to my vehicle is no fault of my own, as I've only had the car for a year!! The maintenance was supposed to be done by the dealer upon getting the car. Which he OBVIOUSLY did not do. I cannot go to the dealer, who incidentally went BANKRUPT, for help now either.He also lied to me about the cost of the car. I signed papers that differ from what show on my CA account. I cannot express my utter disgust and contempt right now. I am so angry and upset at this whole situation. Then when I call just now to arrange the Voluntary Surrender, the lady was so rude and condescending.
I wish I could give negative stars.
So at the beginning of the pandemic, March 2020, Credit Acceptance advised that they would be working with people who were out of work due to the pandemic and set them up on a payment plans. They advised to me that I would be able to skip the month of April and they can set up a payment plan by adding 100.00 on my car note for the next 5 months. They did not advise to me, that for those 5 months I would have a late payment reported to my credit report. So when I go to pull my credit, I see 5 missed payments, and no payment made in April.
I called them and the representative stated that she did not know why it was reporting that way, and she can mail me a form to complete and mail back. They refused to remove the late payments, even though a payment plan was set up, and they advertised being able to help during the pandemic. They are the worst company to finance a car with. If they ever extend the option for customers to jump on a class action lawsuit, I’m in.
I have a delinquent account with credit acceptance from 2017 where I voluntarily turned in a dealer inspected Jeep Cherokee that I had just purchased 8 months prior. My husband was relocated out of state and we could only take the vehicle we paid for because we just didn't want the headache of paying the note on an additional vehicle and the relocation could not be avoided so we turned in the jeep and they came and picked it up and again was only 8 months into the contract with a $2000 down payment so the vehicle was not damaged mechanically or outside at all so to resale it at auction should have been $9000 per Kelly blue book I checked at that time.
But when it was sold, they allowed it to be sold for $7000 and my contract was $15000 so debt owed should have been $8000 left but my credit report was always at $15000 even after many disputes and attempts to have it investigated, it was never correctly resolved so in 2020, I called them and they initiated an investigation because it had gone up to $25000 which was absurd. When it began, I was told that it would take 30 days and after that I would get a letter stating their findings and got one stating that not only didn't it get corrected from the auction sale but the amount keeps going up which per Michigan consumer law is not only illegal but it is an unfair business practice and not only that but credit acceptance has been violating these laws and now there is a class action lawsuit against them.
I will be contacting the department of justice who is one of the agencies suing them to inform of my issue to see how it can be resolved. Make sure that you don't pay an old debt to them until you make sure that is what you owe and if not, do not send them any money until you are sure your balance is correct. This company has been feeding off of their customers for years and it's time they are held accountable for their manipulation, lies, unfair business practices, excessive fees, etc.
Last year I set up my payments to be done via Auto Pay with Credit Acceptance. Every month I would get a confirmation and when my next auto pay date would be. I received confirmation texts until Monday and on that day my car was taken. I checked my banking institution and saw that all payments were made up until December then none this year and there was never an attempt to even collect the payments by them. I was not notified of missed payments. I actually received an email the day they took my car stating that my next auto payment was scheduled for the 4/15/2021. Nothing on my account information has changed. No new card. No new expiration date. No new CRV #. No new address. No new phone number. I’m paying on a car that hasn’t run for a long time and when it does get going it’s not for long. I was told I should have filed with the DMV to report its status when it didn’t run but was unaware that doing so was an option.
I just got forms to reinstate the registration because it was now somewhat operable. The rear end still shakes and I told the dealer that after I bought it but was ignored. I’ve been informed it may have been wrecked when I was told it had not been. The price of the car seemed fair but after all the interest and fees and mandatory gap insurance and the inflated interest rate, I have paid probably two times the car's worth. I need my car now because the transportation I used while this one wasn’t working has been sold by its owner. I was paying my loan and they decided not to play fair by doing the above. I feel this was done purposely since the last three years of payments covered their interest and now they have a car to turn around and sell again with no loss to them.
I am trying to find another car but no one will even consider it and my credit monitoring service alerted me yesterday to a new negative change in my report (which I will check but wanted to write a quick review) which I feel is this greedy company and what should be an illegal repossession now reported. If there is a mass lawsuit count me in. I work hard for my money and this pandemic has cost me money due to job related issues but I still paid the car. I have been trying to rebuild my credit after many setbacks and used auto pay as a way to make sure the payments were timely even though the car has not run for a while.
Today Credit Acceptance started calling. I am awaiting their call back to see what they say and will update this accordingly. No matter the outcome I still have a repossession on my credit because they can’t or won’t do basic accounts receivable protocols. We all need to come together and stop this type of predator. Things will never improve if we don’t stand up and demand to stop being treated like second class citizens because of hard times.
I bought a car in 2013. On 10/2014 I got in the car accident which the car was totaled. My insurance was unable to pay the full amount that was due because I didn’t have gap insurance. I was told to pay $3000 that day or make a payment plan which I did. I was 18, I didn’t have $3000 at hand. I paid off the car a year and a half later ON TIME. I looked at my credit report with the 3 different credit bureaus and realize that I was put into collections. When I called them to ask why they told me they put me in collections to make a payment plan. Which I was never aware of, they told me in order to make a payment plan that’s what they had to do. I asked him, "When did I agree to this?" They said over the phone which I did not do. I would never agree to be in collections as I know that would hurt my credit. Especially since I was paying them on time since I got the loan, being put in collections would reflect that I was not consistent with my payments.
On my credit report also shows I was late months on end but when looking at the payment history on their part it shows that I was paying biweekly and I was never late. They reported me to the collections and I don’t understand why and when I asked if they could help me remove it they told me I would never win a dispute. They misinform their customers and failed to notify the credit bureaus with the correct information.
Whomever decides to do a mass lawsuit against this company, I am all in. Just like a lot of people, I was in desperate need of a vehicle. I went down the street to a nearby car lot and purchased a 2014 Nissan Altima for $15000.00 with a down payment of $1700. That came out to $27,900.00 or something to that affect. That's $12000.00 in interest, more than half the amount for the cost of the car. I made my payments on time for almost 2 yrs. Due to the pandemic I was unable to continue paying on the car. I called the company to pick it up and when they decided to pick it up, I was not available. About 2 weeks later I called the same people back that had originally contacted me, anyway the guy came and picked up the car. Little did I know, he didn't return it. So now I have to report the car stolen because of course Credit Acceptance had no idea who they sent the contract to, later on i find out that they canceled the pick up a week or 2 later.
This went on for almost a year. The detective I had been dealing with calls me to let me know the car was found. During this time credit acceptance continued adding late payments on my credit. They called my insurance company to try and file a claim to get the money for the car. But unfortunately by this time I did not have insurance on the car so they were unable to file a claim. The detective working on my case asked if I still had insurance on the car and I told him no and he said, "It does have insurance under your name." Which leads me to believe that Credit Acceptance had insurance on the car. In reality why wouldn't they have some kind of protection. I gave them the case # and even called them to pick the car up when it had been found. They never picked up the car or even to call the impound to ask about it. They changed the status on my credit report to natural disaster. They are still charging me late fees.
I have paid almost $9000.00 on this car and still owe $18000 to $19000 on it, according to their payment portal. The value of this car is about $5000 to $7000. This was such a rip off and a headache at the same time. I forgot to also mention that the transmission went out on it 6 months after purchasing it. I worked very hard on my credit for them to just cause it to go down with all the late payments. It did go back up due to their note of natural disaster. I am sure they put it as a write off and still got money for it from the government. I am not 100% sure, I am just assuming. They never contacted me to try and negotiate or come up with a solution. I did all the leg work and paperwork for the auto theft, spent time and $$ for the transmission, wrote the affidavit needed to file the auto theft, whatever info I could get I would call the detective and still got screwed in the end.
Customer service is no help at all and they didn't even write down notes or times when I called in. I had to give them the case # a few times before it actually got put in my file. And trust me I called them a lot. For all my trouble, time and the $$ I spent they should give me the title and take it off my record. Never again will I buy a car using this finance company. Lesson Learned!!!
I wish it was a half star or no star option! May of 2020 I began having issues with my car. As a Mother’s Day gift my husband decided to take the $3800 he saved and put it towards a better vehicle. Upon car shopping I came across a 2012 Mazda CX-9. I should’ve known something was up by the way the dealer was acting all excited like yeah another sucker ????. My husband and I had been working on our credit so it was decent to be able to purchase a vehicle. I was lied to from the beginning to the end. Here I am thinking I’m paying $10,000 for a car and I get home and my paperwork, which I didn’t get to see until after we signed it says $7,000 in interest was added and $18,000 if you include the $1600 that bull crap of a warranty they made sound so good.
I needed a vehicle so I went with it. Test drove the vehicle everything seemed fine except for the tires, which seemed minor to me at the time, and here I am today with a whole LEMON!!! My car has been in the shop for over a month now and here I am still paying this $324 note and not even driving it. Not even a month after having the vehicle the air went out. 2 more months the transmission is slipping. I am a full-time wife, student, and mom so I NEED a reliable travel source. Here I am not even a year later the cost for repairs is the amount of the starting price $11,000, that’s the pay-off quote! Not to mention that $1630 bull crap of a warranty, the company found a way to wiggle their tails out of paying for the transmission by asking the service department, when they called to make a claim for the repairs, 3 questions. What is the issue with the vehicle, what failed, and what caused it to fail? Stupid!!
That last question apparently is what allows them to wiggle their way out of paying! Since my TCM and Cooling lines are the problem they declined the claim! Still need a transmission and torque converter! Here I am with the only option according to credit acceptance is to surrender the vehicle or trade it in! $1630 warranty and not worth a crap! I asked where it was in the contract that states this and all she had to say was “It’s not in there because it’s not covered” WTH!!! Somebody please do a mass lawsuit on these people I will gladly join! The is the stupidest BS I have ever heard! You should be ashamed of yourselves taking advantage of people, and you won’t be in business much longer praying on the weak!!! Y’all can’t fix my vehicle but you want my car note money???
In October of 2018 I went to Cactus Auto in Tucson, AZ and put a $4500 down payment on a truck. I needed a vehicle that would be reliable because I have a farm and needed to be able to do various farm duties, haul water weekly and haul hay. I noticed a few issues with the truck but decided they were minimal cheap issues. The only lender that would accept me based in my credit history was Credit Acceptance. I took the truck to my mechanic after purchase and paid $1500 to have the CV Axle fixed and the fuel evap canister recall done on my truck. Both of these things the dealer should have seen but that is hindsight.
About a month after purchase my driver side headlight went out. I have been trying to fix that ever since but no one can figure out where the electrical surge is coming from that causes the headlight harness to melt and blow the bulb. In May of 2019 I had to send it in for a wheel bearing issue and then in September of 2019 the engine had a catastrophic failure. Of course I could not get the after market warranty that Credit Acceptance pushes on their customers to fix the wheel bearing so I had cancelled that back in May. I did have another after market warranty but due to various issues they refused to fix the engine.
I attempted to get some sort of payment reduction in place with Credit Acceptance because I was not going to be able to use the vehicle for more than a few months and all I was told was "You should have expected this repair and should have had money set aside for it" and of course the infamous, "We will repo your vehicle if you fail to pay."
My mechanic is a great guy and let the truck sit for almost a year so I could save up the money to have another engine installed. I went from September of 2019 until the end of August 2020 before I could use the truck again. A month after that the cam sensor went bad and they noticed where the wiring harness had started to melt near another sensor and fixed that issue as well.
Now fast forward to March of 2021 and the rear differential has had a catastrophic failure and I am looking at another $3000-$4000 down the drain. I am now upside down on this truck if I decide to sell it because the vehicle is not safe to operate. Also the roof started leaking in February of 2021 and it causes water to pool in the overhead dome light, thank God we don't get a ton of rain here in AZ. So now I am stuck with a vehicle that has cost me well over $7,000 in repairs and I have only been able to use it for almost a year and a half.
How am I supposed to run my farm with a truck that I cannot use? That dealership is well known for selling bad cars, although I did not know this at the time of purchase. You would think this company would decide not to do business with them. By the time I do get this truck paid off it will have cost me, with a 22.99% interest rate which I cannot get off of because of the age of the vehicle, over $25,000 in payments and over $7,000 on repairs (not even maintenance) for a truck that truly is worth less than $5,000.
They prey on people like me, people who cannot get a vehicle any other way. I even put down $4200 on the truck but heck that went to dealer fee, GAP insurance, crappy auto warranty that is supposed to be reimbursed, taxes and registration. I just wish I wasn't stuck with a boat anchor, I really need another truck but still have 30 months left of paying on it.
I honestly believe this company totally takes advantage of borrowers as most, if not all of their borrowers either bad credit or no credit. Likewise, these borrowers do not have adequate cash to purchase a car with cash. Due to having poor credit, their customers are unable to secure a auto loan at reputable dealership with a reputable lender. In most of these case, both the dealership and lender, Credit Acceptance, jointly take advantage of already struggle individuals. The dealership will grossly overcharge for the vehicle with the with full knowledge and confidence that Credit Acceptance will finance the vehicle regardless of whether or not the purchase price significantly exceeds the value of the vehicle.
Basically, it is the "already struggling" borrower who will always be at an unfortunate disadvantage. I believe that in most of these cases, the borrowers will be in debt to Credit Acceptance, years beyond the life of the financed vehicle, putting the lender at a greater disadvantage. Reputable lenders operate with more integrity and would never finance a vehicle for an amount that far exceeds its value.
In my case, I unwittingly signed a contract for double the purchase price of the amount that I agreed to with the dealership. Coincidentally, or should I say fortunately, the vehicle was totally damage by a tow truck company and this is when I realized that I had been scammed by dealership as it related to the purchase price. Therefore, I contacted Credit Acceptance to inquire about them financing the vehicle for an amount that far exceeded the value of the vehicle, I was informed by a Credit Acceptance representative that the purchase price of a vehicle is between the dealership and the buyer.
This clearly tells me that Credit Acceptance does not operate in the best interest of the borrower. Therefore, the buyer becomes a victim of both, the dealership and the Credit Acceptance and will ultimately be stuck holding the "damage" goods. Likewise, the lender would continue to be in debt with Credit Acceptance if they were to sell the vehicle due to the financed amounts. This is unethical and I will never finance a vehicle through Credit Acceptance, even it means I never own another vehicle. BORROWERS, BE AWARE!
Had a autoloan for 24 months, never missed a payment. But screws over customers when comes time for pay off. They wont (and has never offered this service) to 10 day hold for pay off. Nope! Interest keeps going!
I have contacted Superior Protection, Credit Acceptance and now I'm being told a company I never heard of or been told about called SouthwestRe has my contract. I'm going to start from the beginning. I purchased a 2009 Jeep Patriot on 01/13/2021, three days later the engine light came on. I called the dealership that I bought it from and you all financed. At that time, I get, "I will call you back" from them. At this point I have absolutely no faith with the dealership now because for one thing, they tried to sell me the vehicle with no heat.
Now they fixed the heat, however there was more problems then I was expecting and wasn't aware. Unfortunately I couldn't take the vehicle to another shop for inspection, I wasn't allowed. Well, I was told to bring in the vehicle after on Jan 31, 2021 the battery light came on, also when I turned the heat off the temperature gage was going to hot meaning about to over heat and the jeep was making this God awful noise. Now let's back track, because I didn't trust the dealership I purchased it from Jim Butler, I took it to Autozone for an engine diagnostic, came back oil and new filter need to be replaced. I'm thinking that's simple and unfortunately Jim Butler service shop isn't open on Saturdays and I don't have a job that allows me to take off when I want to, so I made an appointment with another Jeep Dealership.
That next day after the getting the engine diagnosed, it started making this awful noise, it was getting worse and worse and worse. I got the oil changed on 01/23/2021 and also had to get brakes done, that was done on 01/30/2021. On 01/31/2021, the battery light came on. I called Jim Butler, once again, ** from them, my sales rep Mike is a real kick in the **. Now he told me to bring it up there on Wednesday 02/03/2021, but I had a feeling and had no confidence in them, only because there was no way I was going to make it out there without it stopping on me on the highway. It hit me I have a warranty, so I called Superior Protection and they told me they cover engines, transmission, brakes, batteries, alternators, the whole 9 and I can take it to any dealership because I did ask if I could. So because I have a warranty and confident my jeep will get fixed.
I got the diagnosis, WELL, I MUST SAY, was definitely not the alternator like I thought. I've attached, what they told me. Now where you all come in at....I was told all engine, transmission was covered, but you all want to claim it goes in detail. I don't have my CONTRACT AND I WASNT GIVEN MY CONTRACT. Superior told the shop what the issue was on this doc was covered, until the inspector got there, not it's DENIED? All I been told in my contract and the kind of contract I have say that OVERHEATING AND PRE EXISTING CONDITIONS ARENT COVERED? Bologna!!!!
I have asked for my contract for a total of 3 hours today and been sent around on a chase. To get, even was told to go to a company I never heard of SouthwestRe? You all are a scam and I have so much information that my lawyer was given and she is ready to take this to court. I can't stand how you kind of finance companies treat people who have credit. You don't know what I been through!! I want my contract now and I have legal rights to it. I also want my truck fixed, I want everything I signed. I'm not paying a dime until Superior, Credit Acceptance, Southwest pays for my truck to get fixed.
Hi... So I am one of the latest victims that has a vehicle car loan through Credit Acceptance CORP. My negative experience started with the first payment. I purchased my vehicle in Oct. '20 and my first payment was due on Nov. 30th 2020. I took the company's advice and mailed payment out ten days early to make sure it arrived on time. Actually I mailed my payment out Nov. 18th so it was 12 days early. Anyway Nov. 30th 2020 came and I was under the impression my payment made it there on time. To my surprise I looked on the portal online and it showed my payment was yet not there. How could that be I mailed it 12 days ago?!? I reside in IL and the payment was going to MI so it's not like I was living out of the country for the mail to take 12 days.
When I called about this the customer service representative made the point to tell me that it was the US Postal Service's issue and that if it wasn't there I could notify my bank and stop payment on the check and that I could make a payment online. Then the customer service representative kept pushing that autopay is the way to go. I informed them that I will check with my bank however I will Not be making a payment online nor will I be doing autopay. My payment showed up one day later on Dec. 1st 2020.
Then December came once again I mailed my payment out on Dec. 17th 2020. This time I did it 13 days early. Guess what?!? Yup it happened again...on Dec. 30th 2020 payment wasn't there however the payment arrived one day late again and arrived on Dec. 31st 2020. When they called first thing at 7 am in the morning on Dec. 31st 2020 to demand a payment I told the customer service representative that I mailed the payment out on Dec. 17th 2020 so you should have it. I stated, "I don't know what to tell you. It was mailed."
Then I asked the customer service representative, "Have you or the company received the US Postal Mail Delivery for today yet?" The customer service representative stated, "No it was to soon for deliveries." I stated, "I bet so since it is 7 am my time and 8 am your time." I then proceeded to tell the representative, "Why don't you wait calling customers about late payments until you receive your mail for the day because I bet my payment shows up today." Then I told the customer service representative that is what happened for the Nov. 2020 payment. I was right because when I went on to the portal later that evening my payment was there for Dec. 2020. (One day late yet again)
I found it funny that for two months in a row my payment appeared one day late even when the payments were mailed way far in advance. So I went looking online for any complaints or reviews about Credit Acceptance CORP to see if anyone else was experiencing “mail delays" or one day late payments. Boy did I ever find as many complaints/reviews as I did about this company. WOW!!! After reading many and I mean many of the complaints and reviews of how they don't credit customers accounts properly with the autopay or with the one time payment. It got me thinking.....about my payments.
I honestly believe that Credit Acceptance CORP did in fact receive my Nov and Dec payment on time yet held them back on purpose to put my account purposely late. And when they realized that I paid with a check both times and knowing my bank can track those payments down also could look into fraud by those payments coming up missing they had but no choice to credit my account as they should.
The other reason I believe that Credit Acceptance CORP was messing with my two payments is the way they kept blaming the US Postal Service and pushing to use autopay that I just had an instinct that something was up. So for my January payment I did something different. I wanted to see if it's really the US Postal Service or it is indeed them. I sent my January 30th 2021 payment Certified Mail with a Signature Return Receipt Card to be mailed back to me. This way I will know exactly what day it arrived at Credit Acceptance CORP and who signed for my payment.
Let me tell you what it was the best $7 I have ever spent. Not only did I mail my payment out on January 18th '21....IT GOT THERE ON TIME! It took exactly 5 days for the payment to be received and credited to my account. So I find ironic that my first two payments get there late due to the US Postal Service as Credit Acceptance CORP claims yet my last payment gets there on time? Weird huh?!? So from here on out when my payment goes out the 18th of every month I will be spending the extra $7 and send it Certify Mail with Signature Return Receipt.
I do not trust them in anyway when it comes to payments and crediting properly on accounts. That is why I will not sign up for autopay or do an online payment because I had a feeling the company was doing customers wrong by that system. With me doing my payment by check I have more of a paper trail with my bank and the post office. I am sorry that we are all in the same boat with this company and yes it is horrible. And maybe Karma will come around sooner than later to this company.
I've been an on-time paying customer with Credit Acceptance since 2018. I have made my payments through auto pay since the loan began. In January of this year I began receiving calls from an anonymous MI phone number which I allowed the first few calls to go to vmail. When I begin getting the calls from this number on a Saturday I thought I should find out who it is. I answered hello, they asked if they could speak to Rebecca and before responding this is her I asked who was calling and for what reason. He said he was calling from credit acceptance and asked me to verify my address and birth date. I told him that I wasn't going to provide him with anything unless he states the reason for his call! He says ok and disconnects the call.
A few minutes later I googled credit acceptance information to compare the phone number they have listed to the phone number that was shown on my private phone and they were different with the exception of the area code. I called the number listed on Google (please note I have never since the beginning of the loan in 2018 had to call them or have I never had gone to their web page and created a customer account).
A male rep answered "Marcus", I told Marcus I am calling because I have been receiving a series of frequent calls from your company I believe.. I gave Marcus my information and Marcus pulled up my information. He tells me that I have a delinquent amount of $700+ dollars and told me that I need to settle the payment today. I said, "Wait a minute Marcus. How am I behind in payment when I'm on auto pay?" Marcus tells me that I've been delinquent for quite some time now. I was floored! I told Marcus that's **. I am on a strict budget and I have my bills arranged on certain days if each month to prevent past due payments. Marcus got cussed out. I will admit.
I ended up speaking with a Shekina I believe her name was. Shekina had some sense to not insult me and she actually tried to give me some history to how my account became delinquent on auto pay may I add. Shekina said that according to their system they did not receive payment for the month of November and the month of January. And the payment software they use only shows a reason of "my card expired". Ok answer me this, "How did my card expire in November but you used the same card to process my December payment and it expired again in January?" How is that possible? Of course she said, "I don't know. Maybe someone went online to make the payment?" I told her, "Impossible because I never been on your web page. So how is it you guys are jumping months? I need a supervisor stat!!"
So Ms. ** gets on the line.. Ms ** ask if I had receive a new bank card, nope. Change your acct #, nope. Did you move, nope. "Lose your card," "nope holding it in my hand right now Ms. **." I explained to Ms. ** this is very concerning because the reason for the lapse in payment is clearly because of the department that is responsible for processing my payments. This I'm sure will have a negative impact on my credit which I worked my ** off to restore! She was silent of course. I went on to ask her, "How is it that you guys will send me a reminder text of my upcoming auto pay but can't send me a text letting me know immediately the payment did not go through? As a matter of fact why has it taken you guys Two months to contact me to inform me of the past due amount?!!!"
After looking at my bank acct there were no charges made to my acct in November 2020, a charge posted in December 2020 and here it is Jan 30th 2021 and no charges made! Ms ** resolve was to pay the past due amount and she would send me over to some automated system to reset my banking information and reset the autopay date. She asked if I wanted to keep my auto pay date the same day I said Hell Yeah!!
Furious at the fact that I had to go through this with no fault of my own. I requested that they take the owed amount over the phone. Ms ** tells me that they can't take payments direct over the phone, that I will have to be transferred to their payment center and it's an additional $10.00 or pay online for an additional $4.00 or send in a money order. I told her Boom, money order it is and when to expect to receive it. With that payment I wrote "This is Credit Acceptance Error" all over and requested a copy of my payments thus far mailed to me so I can send to the credit bureau.
Last week I get an alert from Credit Karma. My score has dropped 128 points because of credit acceptance reporting the two months unpaid. In addition the $14,000 loan on the 2016 vehicle I purchased two years ago is sitting at the shop with a blown transmission since Valentine's day 2021!! What a coincidence with other people's reviews.. It seemed to be a parallel between purchasing a car at a dealership that sells malfunctioning vehicles and this creditor. My credit means everything to me so does having a reliable car. And to take back my power I plan to refinance my car with another credible lender, I'm in the process to sue the dealership United Motors of whom I purchased my vehicle from and continue to report the deceptive and manipulating lending practices of this company. A class action suit is necessary!!
Other reviews seem the same as it was back in the late 1990's. I had got suckered into a car I didn't want. Had pay for something I didn't want. After few very high payment back then I had filed for a chapter 7 bankruptcy and after bankruptcy got discharged. I did include Credit Acceptance as a creditors. They tried to sue me luckily attorney I had hired to do chapter 7 went to court and got case thrown out.
About 9 months ago at height of the pandemic I bought a 2020 Kia Forte and only options I had were credit acceptance and Ally Financial so this time I choose Ally financial and no problem with Ally. To those who have problems with credit acceptance and their scamming need help due to financial setbacks due to the Covid 19 pandemic find a attorney in your area and declare Chapter7 Bankruptcy. And once Chapter7 Bankruptcy is discharged credit acceptance doesn't have any ground to step on and they won't be able to to prey on those with credit issues. And if car total out chapter7 bankruptcy eliminates the debt.
Credit Acceptance Corp Company Information
- Company Name:
- Credit Acceptance Corp
You’re signed up
We’ll start sending you the news you need delivered straight to you. We value your privacy. Unsubscribe easily.