Vehicle loan or lease -- Getting a loan or lease -- Complaint #12733886
Complaint Overview
Complaint ID: 12733886
Company: Credit Acceptance Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Getting a loan or lease
Sub-Issue: Loan opened without my consent or knowledge
State: Virginia
ZIP Code: 22310
Date Received: 2025-03-30T12:00:00-05:00
Date Sent to Company: 2025-03-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I purchased a XXXX XXXX XXXX from XXXX XXXX XXXX XXXX XXXX XXXX in XX/XX/XXXX, financed through Credit Acceptance Corporation. The sales price in the loan contract provided by Credit Acceptance is {$12000.00}, but the actual bill of sale I have shows the price as {$9000.00}. This resulted in a {$3800.00} discrepancy. I was also overcharged on interest, which I believe was caused by this price difference. Additionally, I never signed the loan contract or any related documents that Credit Acceptance claims I signed electronically. The documents in question were either forged or signed without my consent or knowledge. Credit Acceptance maintains that I electronically signed these documents on XX/XX/XXXX, but I did not authorize such a signature. On XX/XX/XXXX, I discovered the discrepancy and reached out to Credit Acceptance, notifying them of the issue. They acknowledged the price discrepancy but failed to provide an explanation for the forged or fraudulent electronic signature. After filing a complaint with the CFPB on XX/XX/XXXX, Credit Acceptance issued a partial refund of {$5300.00} and adjusted the price by {$7400.00}, clearing my loan balance. However, they did not address the fraudulent signatures or take full responsibility for their actions. Despite this, Credit Acceptance denied offering full compensation or addressing the issue of the fraudulent loan documentation. Key Dates and Actions Taken : XX/XX/XXXX Credit Acceptance claims I signed the loan contract electronically ( which I did not ). XX/XX/XXXX I contacted Credit Acceptance to report the price discrepancy and the fraudulent loan documentation. XX/XX/XXXX Credit Acceptance issued a partial refund of {$5300.00} and adjusted the contract price by {$7400.00}. XX/XX/XXXX I filed my complaint with the CFPB. XX/XX/XXXX Credit Acceptance responded to my complaint but failed to resolve the issue of the fraudulent signatures.
Frequently Asked Questions
What is Complaint #12733886 about?
Complaint #12733886 was filed against Credit Acceptance Corporation regarding Vehicle loan or lease specifically about Getting a loan or lease. It was received by the CFPB on 2025-03-30T12:00:00-05:00.
How did Credit Acceptance Corporation respond to this complaint?
The company responded with: "Closed with explanation". 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.