Consumer complaint received 2019-07-15
Company: CREDIT ACCEPTANCE CORPORATION
State: IN
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Problem with fees charged

Complaint:
on XX/XX/2019 I went online Credit Acceptance Corp to obtain my payoff amount and received an online quote of {$15000.00}. On the website it shows different ways that I can use cash to pay. I elected to use XXXX, I went to the nearest XXXX station was tried to send the whole balance of {$15000.00} and customer service rep told me that I couldnt send that much to them they had a cap amount. I sent {$5000.00} due to that being the cap amount. That evening at XXXX I contacted Credit Acceptance and explained to the customer rep that I was trying to pay it all off and that I could only send {$5000.00} she told me to wait an hour and try again. I went back to XXXX and was informed that I had reach the limit for the day and that I had to wait not 1 hour that credit acceptance told me but 24 hours. 

OnXX/XX/2019 I went online again and got another payoff quote showing the {$10000.00}. Since it hadnt been 24 hours that I used XXXX Credit Acceptance Corp had XXXX XXXX as an option and I elected to use them. I sent another {$5000.00} to them at XXXX. 

On XX/XX/2019 I went back on line and did another online payoff quote showing {$5600.00} I again elected to use XXXX XXXX and sent another {$5000.00} to them.After this payment I was showing a payoff balance of {$680.00}. 

On XX/XX/2019 I went online to get another payoff quote and it was showing {$980.00} a total of {$290.00} difference. I called Credit Acceptance and noone could explain how I accured {$290.00} in less than 24 hours. Both the customer rep and the manager kept saying that the computer calulates the interest. 

I asked what day their interest due dates fall on beginning or end of month and the manager told me daily. But couldnt explain how from XX/XX/XXXX to XX/XX/XXXX I accured {$290.00} in interested. I asked to speak to another manager when she stated that it could take 3 business days for a manager to call me back. I tried to explain to the manager that I  was trying to pay it off since XX/XX/XXXX and they were aware of this but failed to educate me that they only allow a borrow to send {$5000.00} at a time using the different payee sources they have listed on their website. 

I requested that they adjust my balance to the {$680.00} because that is what was showing on XX/XX/2019 and that they knew on XX/XX/2019 that I was trying to pay the complete balance off. I requested that they show me how the {$290.00} interest was calulated on my account in less than 24 hours and the manager said she cant show me that. I explained that I had my screen shots of where it stated from XX/XX/2019 to XX/XX/2019 what my balance was and they refused to adjust it to the remaining {$680.00}. 

I have since paid the {$990.00} and closed my account out with them but I request that I be reimburshed for the {$290.00} On XX/XX/19 payoff quote was {$15000.00} On XX/XX/19 payoff quote was {$15000.00} a difference of XXXX in 24 hours On XX/XX/19 payoff quote was {$15000.00} a difference of XXXX in a 4 day time period. 
On XX/XX/19 they told me my pay off quote would be {$15000.00} a difference of {$290.00} in a 24 hour period and noone could explain to me how we went from accuring XXXX to XXXX cents a day to {$290.00} in 24 hours

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 monetary relief