Consumer complaint received 2023-02-03
Company: CREDIT ACCEPTANCE CORPORATION
State: TN
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
I am clear that those rights have been violated. Please see the list of violations that occurred during my consumer credit transaction to purchase the XXXX XXXX XXXX noted below. 

It is a fact that I provided a cash down payment in the amount of {$2300.00}, however per 15 USC 1605a no cash down payment can be collected when there is a finance charge. Pursuant to 15 USC 1662b it is illegal to require a down payment in conjunction with an extension of consumer credit. 

It is a fact that in the Retail Agreement It States that I have given the Dealership XXXX XXXX XXXX security interest. 15 U.S. Code 1667 ( 5 ) The terms security and security interest mean any interest in property which secures payment or performance of an obligation. 

It is a fact that I understand pursuant to 15 USC 1605, that the finance charge is the sum of all charges. On the 1st page of the contract the finance charge is misrepresented to be only {$10000.00} when in fact the sum of all charges would be {$27000.00}. 

This is a violation of 15 USC 1692e ( 2 ) ( A ). I am the Creditor. It is a Fact that I exercised my right to extend my credit. It is a Fact that I understand that Pursuant to 15 USC 1602 ( I ) ( M ) ( I ) The term credit card means any card, plate, coupon book or other credit device existing for the purpose of obtaining money, property, labor, or services on credit. 

( M ) The term accepted credit card means any credit card which the cardholder has requested and received or has signed or has used, or authorized another to use, for the purpose of obtaining money, property, labor, or services on credit. 

Once you obtained my SSN you accepted my ( Credit Card ) as payment. SSN belongs to the SSA And anything purchased with that identifier number Is an obligation of the United States. It is a Fact that the Pursuant of 18 U.S.C. 8 Means that your are in Violation of The False Claims Act ( FCA ), 31 U.S.C. 3729 - 3733. On the 1st page of the contract the finance charge is misrepresented to be only {$10000.00} when in fact the sum of all charges would be {$27000.00}. 
This is a violation of 15 USC 1692e ( 2 ) ( A ) Credit Acceptance has engaged in deceptive and abusive acts or practices in violation of the Consumer Financial Protection Act of XXXX ( the CFPA ), 12 U.S.C. 5531 ( a ), 5536 ( a ) ( 1 ), 5536 ( a ) ( 3 ), by obscuring the cost of credit for auto loans and taking unreasonable advantage of My lack of understanding of the risk of default and the severity of the consequences, as well as my inability to protect my interests. 
I was forced to obtain insurance misrepresenting the voluntary nature of add-on products. 

The members of XXXX XXXX XXXX staff did not even disclose that insurance was to be included with the finance charge, they just called XXXX insurance company on my behalf and made me contract with them separately. This is a violation of what is written in this law.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation