Vehicle loan or lease -- Repossession -- Complaint #10131242
Complaint Overview
Complaint ID: 10131242
Company: Credit Acceptance Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Repossession
Sub-Issue: Loan balance remaining after the vehicle is repossessed and sold
State: Ohio
ZIP Code: 452XX
Date Received: 2024-09-15T12:00:00-05:00
Date Sent to Company: 2024-09-15T12:00:00-05:00
Company Response: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I bought this vehicle back in XX/XX/XXXX. It is now XXXX of XXXX. I was sold a lemon from XXXX XXXX. I only got to drive the vehicle two months out of the sixth that I owned it. It was repossessed and sold at auction at that time my loan amount was {$12000.00}. this loan is still open as if I still own the vehicle causing the equity amount of the loan to go up to {$17000.00} almost {$18000.00} from the interest and late payments. This is a fraudulent act due to the vehicle being sold at auction. This loan should have been closed and the amount after being repossessed and sold at auction shouldve been remaining balance. this is destroying my credit. I cant get anything including a new car or my first time homebuyer loan due to them still charging interest and late payments on a loan that should be closed out because the vehicle was repossessed and sold at auction. i want it off my credit before I decide to get my attorney involved, because what credit acceptance is doing is illegal.
Frequently Asked Questions
What is Complaint #10131242 about?
Complaint #10131242 was filed against Credit Acceptance Corporation regarding Vehicle loan or lease specifically about Repossession. It was received by the CFPB on 2024-09-15T12:00:00-05:00.
How did Credit Acceptance Corporation respond to this complaint?
The company responded with: "Closed with monetary relief". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Credit Acceptance Corporation?
Yes, visit the Credit Acceptance Corporation company profile at readthecomplaint.com/company/credit-acceptance-corporation to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.