Consumer complaint received 2023-09-06
Company: CREDIT ACCEPTANCE CORPORATION
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
FOR THE SETTLEMENT PURPOSE ONLY, CONFIDENTIAL SETTLEMENT COMMUNICATIONS, AND NOT ADMISSIBLE FOR ANY PURPOSE IN ANY ADVERSARIAL PROCEEDING. TO THE EXTENT THIS COMMUNICATION CONTAINS CONFIDENTIAL CLIENT COMMUNICATION, IT IS SET FORTH FOR THE SETTLEMENT PURPOSES ONLY AND IS NOT A WAIVER TO THAT PRIVILEGE. 
XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX, XXXX XXXX CA XXXX XXXX XXXX XXXX I appreciate the opportunity to further discuss my claims with you, in further to your request for my demands, this letter has been prepared and sent for the sole purpose of encouraging settlement discussions.I therefore consider its contents, and any related communications, to be exhaustive and I hereby specifically reserve the right to supplement and/or modify the facts as further investigation dictates. 
Claim of Violations under TILA in XXXX I XXXX XXXX, Purchased XXXX XXXX XXXX total Sale Price $ XXXXCash Price Vehicle, $ XXXX Financed Amount Subtotal was $ XXXX down payment of {$2000.00} is listed to the Amount financed {$18000.00}. XXXX the contract under the itemized amount financed 2 optional Warranty contracts, fees, & charges were illegally added to the agreement.

Under CFR subsection 1026.4 Finance Charge 4 ( b ) ( 1015 U.S. Code 1605 - Determination of finance charge Examples of charges which are included in thefinance chargeinclude any of the following types of charges which are applicable : ( 1 ) Interest, time price differential, and any amount payable under a point, discount, or other system or additional charges. ( 2 ) Service or carrying charge. ( 3 ) Loan fee, finders fee, or similar charge. ( 4 ) Fee for an investigation orcreditreport. ( 5 ) Premium or other charge for any guarantee or insurance protecting thecreditoragainst the obligors default or othercreditloss. ( 6 ) Borrower-paid mortgage broker fees, including fees paid directly to the broker or the lender ( for delivery to the broker ) whether such fees are paid in cash or financed.Finance Charge CFR 1026.4 ( a ) -1.I.A-BA. Inspection and handling fees for the staged disbursement of construction-loan proceeds.B. Fees for preparing a Truth in Lending disclosure statement, if permitted by law ( for example, the Real Estate Settlement Procedures Act prohibits such charges in certain transactions secured by real property ) .C. Charges for a required maintenance or service contract imposed only in a credit transaction.1026.4 ( B ) ( 10 ) .Definition.Debt cancellation coverage provides for payment or satisfaction of all or part of a debt when a specified event occurs. The term debt cancellation coverage includes guaranteed automobile protection, or GAP, agreements, which pay or satisfy the remaining debt after property insurance benefits are exhausted.

As you can see GAP & other services, premiums, fees that were added to the itemizedamount finance, under law is legally a Finance charge under TILA.15 U.S. Code 1638Itemized Of The Amount Financed ( A ) The amount financed, using that term, which shall be the amount of credit of which the consumer has actual use. This amount shall be computed as follows, but the computations need not be disclosed and shall not be disclosed with the disclosures conspicuously segregated in accordance with subsection ( b ) ( 1 ) : ( i ) take the principal amount of the loan or the cash price less down payment and trade-in ; ( ii ) add any charges which are not part of thefinance chargeor of the principal amount of the loan and which are financed by the consumer, including the cost of any items excluded from thefinance chargepursuant tosection 1605 of this title ; Now that the fraud inside the itemized Amount financed & Finance Charge is addressed, their are Claims of forgery done with XXXX XXXX XXXX XXXX that was used without any consent or acknowledgement. A true copy of her signature will be attached.XXXX  XXXX did not inform or disclose that I'll be listed on contract as a Co-buyer, Co-signer, I was only informed that I'll need a Cosigner because of the lack of credit I had at the time. Time of signatures on the contract was logged after XXXX, and I was for sure not inside that place around that time. ( On XX/XX/XXXX I purchaseda XXXX XXXX XXXX XXXX from XXXXXXXX XXXX The car shutdown on me XX/XX/XXXX. I took it as it was a battery problem because the battery was very small and actually the wrong size battery for the car. I went to buy another battery on XX/XX/XXXX, when I cranked the vehicle the motor was knocking. I got the cartowedto XXXX to get it serviced XXXX from XXXX, CA on XX/XX/XXXX with my XXXX roadside because my Gap roadside profile at the time wasn't processed, from what I was told by XXXX XXXX 2 warranty companies on my contract .The car now has been at a shop going back and forth with the Warranty company, who finally agreed to send an adjuster, and it's now XX/XX/XXXX.. I'm still without a car nor funds for rental .All my business plans failed due to me having no transportation. ) I lost a lotdoing that time and still was in a losing battle, the car never got the proper repair done, I asked XXXX about the suspension and he informed me '' that once we get the motor repair done, we can fix the suspension next. all because the warranty was giving him a hard time. ''I Had the Vehicle diagnosed at XXXX XXXX XXXX XXXX and Invoice states motor needs mounts, bolts, & belt. Proof of the improper services XXXX XXXX has done and fraud billing my warranty such false claims of repair, can be found listed in the invoice XXXX XXXX and XXXX XXXX XXXX did not inform me that I was supposed to Submit a Notice of Transfer and Release of liability to the DMV , Which penalties and such was applied from non compliance of insurance and other civil liabilities. I have DMV statements to prove allegations. XXXX XXXX XXXX violated the Martin Act by engaging in fraudulent and deceptive practices making false and misleading representations.

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