Consumer complaint received 2023-02-20
Company: CREDIT ACCEPTANCE CORPORATION
State: MI
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with fees charged

Complaint:
I got a car through a dealership that works with credit acceptance. A lot of the information in the contract was difficult for me to review as the sale was rushed and brief. I may have missed some key components. This car came with no XXXX  but, I was willing to take the chance as the seller promised a lot of success with the transaction. I was told things on the vehicle were up to date. It ended up needing a new radiator a day after getting it using a XXXX deposit on a warranty. About 3 weeks after having the car it was hit and run will parked in front of my residence. Before I was able to get it into assess damages it was hit again in a 3 car accident while legally parked at my residence. This time it had to be towed as I was in my residence XXXX XXXX XXXX XXXX XXXX XXXX  and had also could not be behind the wheel of a motor vehicle due to medications I was taking at the time. A few days later I contacted credit acceptance to try to renegotiate or figure out a reasonable resolution in the case that the car still had a balance. I was informed that the contract would remain and the only option I had was pay it in full or be sued. Even if the car is a total loss Im assuming there will be balance left over. During the inquiry about this vehicle via XXXX through a dealer that had it priced @ {$1.00}. I asked for the price I never got a straight answer. I informed the seller that it seemed to be a lot of secrecy I asked for the tag price and was told either to finance with them or lose the chance of having the car if told the price of the vehicle. Considering that this was the only seller that offered me financing after being denied from XXXX XXXX, XXXX XXXX, my personal credit union, and many others for credit lines as little as {$100.00} due to lack of credit history over the last 10 yrs I gave it a chance. The sales agent offered to drive a hour and a half to bring me to his dealership which was appreciated when we got to the office he only had me review the paperwork and whatever needed to be signed electronically was not presented to me. He claimed he was making it quick and easy that everything would work out and it was pretty straightforward just make my payment and refinance when I built some credit. Im still unsure of the exact details of the contract down to the price of the vehicle. I was only given estimates via XXXX ( where it was marked at {$1.00} which the seller informed me it was just the down payment ) and Text of approximate amounts I brought it down from XXXX to a little under XXXX for you. He claimed that Id be paying the minimum amount over the phone but, at the dealership he threw in a lot of extras and possible 72 month term and basically having to pay the full amount of the car brand new and a lot of fancy talk about how to lower payments and get a better rate but, since the car is now at a tow yard I will not be presented with that chance. If there is anyone who could provide me with info on how to lower my payments so that I am able to pay for my essentials please feel free to contact me via email ( XXXX ) or phone XXXX. In the XXXX thread we talked about financing in house which was not the case I was financed at a different rate through the 3rd party credit acceptance .I was told by the dealer to not contact them for anything in regards to the vehicle. Also not to tell the warranty company about anything I noticed at the dealerships in regards to the car.

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