• Report: #1039459

Complaint Review: Credit Acceptance Corporation

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  • Submitted: Sun, March 31, 2013
  • Updated: Sun, March 31, 2013

  • Reported By: mykidsdad2 — Billerica Massachusetts
Credit Acceptance Corporation
25505 West Twelve Mile Road Southfield, Michigan United States of America

Credit Acceptance Corporation Credit Acceptance Corp Automotive Finance Southfield, Michigan

*Consumer Comment: This is actionable.

*Consumer Comment: Like I Said Before...

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Purchased a vehicle thru Credit Acceptance less than two years ago.
I was trying to trade it in on another vehicle. I have a handicapped
child who is wheelchair bound. My wife didn't feel safe driving him
in the van we had. Told by new selling dealer, that my vehicle is
only worth eight hundred dollars. I owe ten times that amount thanks
to their sky high interest rate. To say nothing that you have to buy
the extended warranty or they will not finance you.

This report was posted on Ripoff Report on 03/31/2013 10:59 AM and is a permanent record located here: http://www.ripoffreport.com/r/Credit-Acceptance-Corporation/Southfield-Michigan-48034/Credit-Acceptance-Corporation-Credit-Acceptance-Corp-Automotive-Finance-Southfield-Michig-1039459. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

This is actionable.

AUTHOR: Robert - ()

To say nothing that you have to buy the extended warranty or they will not finance you.

Requiring the purchase of an extended warranty as a condition of granting credit for the purpose of a consumer purchase of an automobile is against federal statutes in all  the 50 United States and its territories.

This is actionable if you can PROVE it.  You need to visit the FTC website to learn how to file a complaint against then for this.
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#2 Consumer Comment

Like I Said Before...

AUTHOR: Jim - ()

...to your other report...if you felt you had good credit, why did you stay there and accept being treated like garbage by them which is what you alluded to earlier.  If indeed you have bad credit, then you had the opportunity to see the APR on the contract which you should have READ before signing it and if that APR was too high for you, then don't accept the deal!  How hard is that?  On the other hand, if you have bad credit, then YOUR credit reputation is what controls the APR.  Bad credit means high APR.  If you don't like the thought of high APR, then pay your bills on time!  And just in case you don't like what I said, don't waste the effort saying, "you must work for them", because I don't!
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