Credit Acceptance Corp

Credit Acceptance Corp

 3.8/5 (508 ratings)
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About Credit Acceptance Corp

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Page 2 Reviews 10 - 40
Rated with 1 star
Verified Reviewer
Original review: June 1, 2022

I paid off my car months ago and reached out to them about the car title. I waited for 2 months for my title and it never came in the mail. I had to call them for them to say that they had it sent out to me but then they lost it because they had the wrong address in. How can they be this irresponsible? They then sent me only a discharge of lien which should’ve been attached to the title. They did this on purpose! I just wish I could’ve done more research before signing up with this scam company! I’m furious that they scammed me like this. When it comes to taking your money, they’re so quick into doing so but to give you your title. I hope they go bankrupt! Do your research on this ** company before you decide to sign up with them.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 13, 2022

Would give this company 0 zeros if it. My spouse obtained a loan with them on my behalf due to me only having no verifiable income (home childcare) covid hit and that closed my doors so I voluntary gave the car back. Unlike many lenders they hold you to full term meaning you have a 60 month term bet your bottom the amount after resale with be the 60 month terms worth of interest so you have a 22.99% rate you will pay it. Not only that once your car is sold and the defiency balance is due they do not close your account or charge off instead these sweet vultures ADD a monthly balance to your account until resloved why? My response I received was bc we can more or less.

I work in auto financing and can say 100% when someone is approved with them I tell them don't do it. I go as far as to help ppl repair their credit than getting bent backwards with this company. I truly don't know how they sleep at night. Horrible company. I hope they get a lawsuit like no other matter of fact I have obtained a attorney nobody needs to be fooled into doing business with these people. By the way 3 supervisors seen my concerns and stated they couldn't answer my questions till finally one was rude (day before appointment). Now I don't feel bad. I hope she's fired before they're shut down!

12 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: March 9, 2022

I am going through a hardship and was granted to pay $250 a month for 6 months. This loan company claims I willingly set up payments twice when I said no I didn’t and wanted one of the payments canceled. The collections person I spoke with Reggie was sarcastic and rude and said he would have his manager call in about 72 hours. I also was told to dispute the amount with my bank when Reggie could have more than willingly cancelled one of the payments. I’m at risk of my electricity being disconnected and he could have cared less. I was called out the n-word and I said I would start recording calls. I demand to have my money back in my account and speak to upper level management.

15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 2, 2022

These people will tell you, after 3 years of on time payments, that you will go into default after being late 4 days to pay. They want to screw you over, and have no sympathy. If you are going through a hard time, you will be told that they do not care. The lady I spoke to seemed to enjoy the idea that I would go into default. Please do yourself a favor and ride a bike if you have no other options. They also will call like 5 times a day, and most of the time, there is nobody on the other end. It is like some creepy stalker.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 28, 2022

They “accidentally” reported an increase in my loan balance. Decreasing my credit score by 36 points! They “fixed their error” yet my score only rebounded 19 points. It’s now the last day of February, yet they have reported I have not made a payment since NOVEMBER 31! Which is absolutely FALSE! I don’t miss payments. If I had not paid since Nov 31 they would have taken possession of the vehicle by now. As a result of yet ANOTHER “mistake” my payment history is declining and AGAIN lowering my score. I’m contacting my lawyer.

15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 24, 2022

They are Soo horrible. They picked up my car after I only owed 3.000 dollars on my car. I paid them a total of 20.000 and all I had left was 3.000 dollars. I was late 3 months on a payment and threated me with late fees several times and barely wanted to work with me. They are criminals. They picked my car and I'm left with a 3.000 dollar debt and no car. Never ever ever do business with these people. God will definitely punish theses criminals after taking advantage of a young person like me. This was my first car. I had it for 6 years. I am very devastated.

13 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 30, 2022

Was paying on time. Turn car off 'cause on their side they was not receiving payments. I got tied cause it took them month to fix. Turn car on then paid. Fell behind car. Sat in driveway. 2-3 months late fees plus interest pile up. They said they couldn't find car car I'm driving or hiding. Remember car was in driveway turned off. I seen cars, trucks, stop, look at car, never came to get. Then the day I was going to Clean car out they took car with important over 1500-2000 of work I was going to put in car. Never told me where car was cause they can't tell me till I pay. Note then they never sent paperwork. I called over over for my things same story. "We can't tell. You pay bill". Sold car. Never sent paperwork. DO NOT TRUST THEM. THEY WILL MAKE WHERE YOU WILL FALL BEHIND.

7 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: Jan. 17, 2022

Shaquanda was able to advise me on a way to help our family be more on time with our payment. She was very kind and soft spoken. You did not feel like you were dealing with a person from the billing department just someone who wanted to help you. She’s the best. Can’t recommend them more.

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Jan. 14, 2022

Worse. My car was stolen, the insurance had paid majority of it off And I had GAP insurance too. Well Credit Acceptance somehow states I missed a payment and the gap did not pay off all the remaining which they never notified me. Instead they put it on my credit report causing my score to drop 80 points. When I call about several time to speak with credit acceptance about this they laugh at me. Saying, "Good your credit drop." Basically making fun of. I’d call back to speak to a different rep. They then would be rude. Yell at me. This company will screw you over if you do not go the complete term so they make that interest rate profit. They will go on your credit report and report negative causing it to drop. Avoid this company. They are not in the consumer's best interest.

19 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Dec. 20, 2021

I purchased a Jeep in April 2021. A month later my Quadra lift suspension went out. 4 months later it started leaking coolant so I take it to have it fixed and they tell me I have a few other things wrong with it. This vehicle has been in the shop at least 5 times and the bills are not very cheap. Dec 2021 I call Credit Acceptance to see if they can push a payment to the end because my car is in the shop and it's going to be hard to make the payment. The lady who assisted me was rude and all she cares about was when I was going to be able to make a payment. She said she would not be able to help me out that they don't do that. I asked to speak to a manager because I do also have another vehicle financed through them Which is almost paid off and I have never been late with either vehicle.

The first thing he asks is when I'll be able make a payment? I have spent 6000 getting this jeep fixed and 5k on my other vehicle and all they can say is, "When will you have your payment." This company is ridiculous and the interest rate is ridiculous as well. They will call you the next day your payment is due and harass you. All they care about is money!! They are not willing to help you out at all. Stay far away from this place!!

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 23, 2021

Changes policies without notifying customers and they overcharge on interest even with avg to good credit. Mid 600. 3000 down 6000 left turned to a 13000 loan from them. Money grubbing company. Don't use them.

27 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Sept. 21, 2021

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!!!!

28 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: Sept. 18, 2021

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.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Sept. 11, 2021

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.

20 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 24, 2021

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.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 7, 2021

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.

18 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 5, 2021

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.

15 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 28, 2021

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

17 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 20, 2021

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.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 14, 2021

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.

10 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 5, 2021

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.

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 14, 2021

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.

24 people found this review helpful
Rated with 4 stars
Verified Reviewer
Original review: June 10, 2021

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.

12 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 13, 2021

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!

23 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: May 10, 2021

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!!!!

24 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: May 8, 2021

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.

19 people found this review helpful
Rated with 3 stars
Verified Reviewer
Original review: April 21, 2021

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.

27 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 19, 2021

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.

I have called so many times, talked to so many reps, and have been told so much BS and lies. I am the victim in this dumpster fire. But yet, I am being punished for a situation I have ZERO control over. I cannot control the dealer being dishonest and not servicing vehicle per his responsibility before he sold it to me.

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.

11 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 15, 2021

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.

30 people found this review helpful
Rated with 1 star
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Verified Reviewer
Original review: April 15, 2021

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.

33 people found this review helpful
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Credit Acceptance Corp Company Information

Company Name:
Credit Acceptance Corp
Website:
www.creditacceptance.com