Vehicle loan or lease -- Getting a loan or lease -- Complaint #8325668
Complaint Overview
Complaint ID: 8325668
Company: Credit Acceptance Corporation
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Getting a loan or lease
Sub-Issue: Problem with signing the paperwork
State: Colorado
ZIP Code: 801XX
Date Received: 2024-02-11T12:00:00-05:00
Date Sent to Company: 2024-02-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I signed a loan in XXXX XXXX XXXX for a car loan. This loan was through XXXX XXXX XXXX XXXX XXXX in XXXX XXXX, XXXX. I was told I wouldnt be able to finance a car that day because I had no credit. XXXX XXXX claims they accept everyone, even people without credit. I was told I needed a co-signer, so I got XXXX. I was young and just crashed my car. I needed a car desperately. I got wrapped up into a high monthly payment. When going over the loan paperwork only my co-signer was spoken to and was given a break down. Not me. Now Im trapped in this loan, I either have to ruin my credit or keep paying this high loan every month. I cant keep paying with sacrificing my well being. Nor can I keep up on maintenance on the car if I keep paying this loan. The dealership and credit acceptance didnt take the time to listen to me, they even signed the contact with the wrong email. I had to call credit acceptance to change my email and number. My co-signed also wasnt required to put his email. They instead let home just use my email. I have limited ability to contact my co-signed also. So I struggle to even get him off the loan so I can try and trade it in. Any course of action I take will result in my credit going down, having no car, or keep paying this car XXXX cant afford.
Frequently Asked Questions
What is Complaint #8325668 about?
Complaint #8325668 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 2024-02-11T12:00:00-05:00.
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.