• Report: #574007

Complaint Review: Credit Acceptance

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  • Submitted: Tue, February 23, 2010
  • Updated: Tue, February 23, 2010

  • Reported By: JR_8080 — Manassas Virginia United States of America
Credit Acceptance
P. O. Box 513 Southfield, Michigan United States of America
  • Phone:
  • Web:
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Credit Acceptance CAC Credit Acceptance financed vehicle without title, vehicle sold with forged carfax...important link inside. Southfield, Michigan

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Firstly, a well researched and irrefutable article on CAC's buisness practices, to help you make an informed decision about using them as a financing source...


http://www.washingtoncitypaper.com/display.php?id=16926


Credit Acceptance provided funding for my vehicle without ensuring that the dealer partner who signed the paperwork was able to obtain a title for the car.  I went to the DMV and tried to change the address on my registration, they told me that proof of ownership would be required when the registration needed to be renewed next year...After talking to the dealer and credit acceptance, both blaming each other, I do not have the required proof of ownership information to register the vehicle.


After realizing that I would be unable to register my vehicle, I decided to try selling it by using an investment account of mine to pay off the car and hopefully release the title.  After taking my payoff amount, credit acceptance told me that it would take them 30 days to get me my title...35 days after funds were taken from my bank account, I have no title, and credit acceptance continues to refer me to a variety of reps who tell me that the title is being processed without providing an ETA.


Along with the 20% interest "rule 78" loan and a top dollar price for a car that was mediocre at best, the dealer partner who sold the vehicle and loan utilized an incomplete carfax(omitted second page) to attempt to prove the car was accident free.  When my first buyer showed up to look at the car and ran a carfax...it came back dirty, rear end collision damage.


The vehicle has encountered a number of very extreme mechanical problems some of which have been very costly repairs and resulted in costly towing fees.


Among mechanical problems encountered...


Engine Replacement, Transaxle Replacement, Catalytic Converter & Oxygen Sensor Replacment, 2 Batteries, Fuel Leak, Brake Failure(sudden onset, highway speeds, brake hose popped)


The warranty company which covers the car and has a partnership with CAC has repaired the 2 major(engine and transaxle) failures with parts which are clearly much older than the originals, as evidenced by excessive corrosing, poor compression on the "new" engine, and the transaxle turns fluid black and burnt in only 2000 miles.


CAC financed this vehicle, despite the apparent lack of a title, and the accident damage at a wildly inflated price(170% of KBB's excellent condition value), my only saving grace has been a stable salaried job that makes enough money to cover all these costs.


I went for this loan knowing I was getting the short end of the deal in an attempt to build credit, assuming that the car would be reliable and would hold its resale value well enough that I wouldn't loose every dime I spent.  I got nothing but a worthless car without a title, and a bunch of big repair bills.


This report was posted on Ripoff Report on 02/23/2010 07:14 PM and is a permanent record located here: http://www.ripoffreport.com/r/Credit-Acceptance/Southfield-Michigan-48037/Credit-Acceptance-CAC-Credit-Acceptance-financed-vehicle-without-title-vehicle-sold-with-574007. 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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