• Report: #1097766

Complaint Review: Credit Acceptance

  • Submitted: Thu, November 07, 2013
  • Updated: Thu, November 07, 2013

  • Reported By: Tanya — Madison Heights Michigan
Credit Acceptance
25505 W 12 Mile Rd southfield, Michigan USA

Credit Acceptance rip off intrest way to high and they took my car on last payment just to double charge me. southfield Michigan

*Consumer Comment: They didn't charge you 50% interest

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 I bought a car from mega auto sales and finicial help came from credit acceptance. I was paying them regularly until I got fired i was still paying but they took vehicle twice and have charged all this money. the first time they took the car they advised that it was legally binded that the date of the due date for the bill was now 27th of each month remember my original date was 22nd evey since they took vehical i have been recieveing late charges they actually changed due date so why still charge me a late fee for the 22nd evey month until the bill was unbareble. this company is a rip off and they did not call me and they just took vehical again letting me know that i only had a balance of 816.00 left to pay i have all the payment history and all call they claim were recorded i want to file a law suite with credit acceptance for the fact that i have went threw so much with them and paid out way more then i should the care was a 2000 expedition and car amount was 4999 when i got in may 2010 finace charges also in question 12000 dollars i thought was to much to start paying 309.00 every month for a 12year old car please help i do feel that i have a case.i have issues besides the late fees that was assesed on the acount i want to know if my billing date was changed to the 27th why was i continually accurring late fees for the date 22nd which was the original date for bill but as i was told once they took vehicle the dates was legally binded to change to that date every month on the 27th look i bought a 2000 expedition may of 2010 and look at the rates of interest over 50% they charged me 12,973.38 for this vehical the way they treated me through out the dealings and also the way they took my car on last payment assesed late fees i gave them partial payment of 140.00 they call nor spoke with me nor cut vehical off they have gps to shut off for unpaid they just took truck last payment also how can they charge all these late fees please review i am pursuing this further i am not happy with the way the account was handled and i want calls pulled and coversations look at please contact me if you need more info now they because i have complaint send me this and try to waive late fees from there leagal department i want more done like i said they are sending people out to house to seize property they cant do that iam going for a class action law suite. i have people putting in petetions on this iam not the first to complain and why have nothing been done they should be able to charge over credit 50% interest even houses are not that much.


This report was posted on Ripoff Report on 11/07/2013 05:21 PM and is a permanent record located here: http://www.ripoffreport.com/r/Credit-Acceptance-/southfield-Michigan-48034/Credit-Acceptance-rip-off-intrest-way-to-high-and-they-took-my-car-on-last-payment-just-1097766. 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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#1 Consumer Comment

They didn't charge you 50% interest

AUTHOR: FloridaNative - ()

Even this sub prime auto dealer doesn't charge 50% interest! Take a look at your contract and there will be a written disclosure as to the interest rate and the interest payments IF you make each payment on time. If you are late, there is a late fee on top of the interest. I think you are confusing the dollar amount of interest you paid with the interest rate. By the way, it is required by law that the lender provide you the disclosure of how much you are borrowing and how much it will cost you over the term of the loan. That info is right in the contract you signed.

It sounds like you think they changed the due date from the 22nd of the month to the 27th of the month according to your post. If you were getting late fees for paying on the 27th, why didn't you just pay on or before the 22nd per your written agreement? Just so you are aware, no one can verbally change a written contract. In order for the dates to change in your contract, you would have had to have a written addendum to the contract (not likely).

As to the class action lawsuit, it is not going to help you. Class action lawsuits usually only help attorney's anyway because they are the only ones that make any money from the suit and potentially the lead plaintiff. The other people in the class get pennies back IF the plaintiff prevails. 

Hopefully you can go get your car back since you have paid everything but the last payment. Get it paid and keep the car until you can get on your feet and buy a new car for cash the next time you need a vehicle. Getting involved with a high interest loan is not worth the stress when you are already having financial difficulties. Good luck in getting your car back.

 

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