Vehicle loan or lease -- Getting a loan or lease -- Complaint #17979425
Complaint Overview
Complaint ID: 17979425
Company: Credit Acceptance Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Getting a loan or lease
Sub-Issue: Confusing or misleading advertising or marketing
State: Michigan
ZIP Code: 48506
Date Received: 2025-11-20T12:00:00-05:00
Date Sent to Company: 2025-11-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I purchased a vehicle that was used from XXXX XXXX in XXXX mi on XX/XX/year> I was aware of asking price of XXXX grand and some change. I suppose to been the buyer and my mother co-sign. As I requested a contract from them they put my mother first I dont know why it have me as co-signer this my first red flag, as of today I received a letter saying I owe them {$13000.00}. The vehicle was surrendered back to them my engine went out on XX/XX/XXXX I believe. So after getting contract I read all of it I see I payed for Gap an a extension warranty which was a extra {$3000.00} in total even calling them to give car back they did give me acknowledgment of having the option to have repaired for free. The vehicle was picked up an sold at dealer auction for under my owe amount I guess. Now I see why I owe so much my total was pushed up too {$33000.00} I put a down payment which I thought that would have made me needing loan on under XXXX but my down payment went to them not towards dealership asking price my credit not good but they was able to get the loan threw credit acceptance my ARP was 23.99 which I had understanding they was supposed to not do no higher then 22 % I dont know what was the dealer an lender business or partnership % are or what they do together but I never talked with lender for myself before purchase they dont ask or care so a car thats under {$10000.00} Ill be stuck paying {$40000.00}
Frequently Asked Questions
What is Complaint #17979425 about?
Complaint #17979425 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 2025-11-20T12:00:00-05:00.
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.