Consumer complaint received 2019-09-30
Company: CREDIT ACCEPTANCE CORPORATION
State: WA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
To Whom it may concern, I am writing regarding my ongoing dispute with the company Credit Acceptance Corp. My Credit Acceptance account number is XXXX. I purchased a car ( a XXXX XXXX XXXX ) on XX/XX/XXXX from XXXX   XXXX XXXX, the price of the car was {$6000.00} ( attachment 1 ). I put {$2000.00} down, as the lender Credit Acceptance dictated. The dealership added a lender fee of {$450.00}, making the amount to be financed {$4500.00}. 
As the salesman was going over the sales contract with me ( attachment 2 ), he advised me that if I kept the loan for the full 48 months, I would pay a total amount of {$6800.00} and that it would be in my best interest to pay off this loan as soon as possible. 
On XXXX XXXX at XXXX, I called Credit Acceptance to obtain a payoff balance and was advised that amount was approximately {$6500.00}. I immediately advised the company that amount could not be correct. The company representative became belligerent and condescending. I advised the rep that I would like to file a dispute. The representative told me that he submitted my dispute and forwarded it to the complaint resolution department and that they would call me at a later date. 
I immediately called the auto dealership and spoke with the manager, XXXX. XXXX advised me that my figures were correct on the sale price of the car, and emailed me proof the cost ( attachment 1 ). XXXX was not able to provide a reason why the salesman entered the incorrect amount in the cash price box on the agreement that I did sign. XXXX also went to her accounting department and provided me with a copy of the payment from Credit Acceptance to XXXXXXXX XXXX XXXX  in the amount of {$4500.00} ( attachment 3 ). In addition, XXXX phoned Credited Acceptance to try to fix this error, but was told that I would be responsible for the amount entered into the cash price box of the contract AND further interest and fees on that amount. 
With an already excessively high interest rate of 28 %, paying that rate on an additional and incorrect {$4000.00} is obscene, abusive and predatory. I have paid my monthly payments on time, every month without postponing a single payment. See attached payment history ( attachment 4 ) which includes additional interest charged to me. 
On XX/XX/XXXX, I received a phone call from XXXX in the conflict resolution department of Credit Acceptance. During this 8 minute and 55 second call, she advised me to send in what documentation that I had to prove my dispute. I emailed my documents to her that evening and she returned my call the next day ( this call lasting 1 hour and 13 minutes ). XXXX said that based on the information that I submitted, there was a discrepancy but that they would not be making any changes to my account and the dispute was closed. During this call, I also spoke with supervisor XXXX, who also disregarded all of the documents that I submitted and advised that there would be no changes to my account. 
I have sent many emails and talked with XXXX  several times since then. I have not received a single written or email reply from this company. When I speak with XXXX on the phone, she hangs up and ends the conversation before all of my questions are answered. I have sent several email requests for the company to perform a real and actual investigation to no avail. I have asked for a written ( at least ) summary of their investigation and have been refused. 
During my phone calls with XXXX, I have been given deflective and deceptive answers to questions. For example, when I asked XXXX how many payments that I have made on my account, her answer was about 17, or maybe 20 to 25. When I asked her to add up the funds that I have sent in on all of my payments combined, her answer was well, if you financed {$8500.00} and your balance is now {$6500.00}, then you have paid in about {$2000.00}. When XXXX asked me if I had proof of what the car was selling for, I said yes, I have already sent this to you. Her reply was that is not a Credit acceptance contract, and then she promptly moved to another topic completely disregarding my answer AND the proof that she requested. 
I have made 17 payments for a total of {$4300.00} and been charged {$2300.00} in interest. All based on an incorrect sales price. I need to have my account recalculated with the correct sales price in place, and a financed amount of {$4500.00}. 
If I had a loan for {$4500.00} with an interest rate of 28 % and total payments of {$260.00} per month, the total payoff over the length of the loan should be {$5800.00}. However, for a loan on the amount of {$6800.00} the total payments for the life of the loan would be {$11000.00}. Credit Acceptance only paid {$4500.00} to the dealer for the car ( see attachment 3 ). They are requesting that I pay approximately {$5500.00} in invalid fees. 
All that I am asking for is what is fair, just and right. I would like an accurate balance on my account, so that I may pay off the car. I am not asking for a reduction in their abusive interest rate, nor even any sort of refund at this time, if my payments have over paid what I in actuality owe on this car. If, however, Credit Acceptance attempts to drag this dispute out and there is a large over payment on my part, I will ask to recoup that loss, with an interest rate of 28 %.

If Credit Acceptance insists that I pay on a loan of {$6800.00} with an interest rate of 28 %, and they only paid {$4500.00} to Incredible Auto, then I need them to make a payment to me in the amount of {$2300.00} plus 28 % interest for 16 months. This payment would insure that they would not be guilty of fraud. 

Sincerely, XXXX XXXX

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