Consumer complaint received 2018-09-19
Company: CREDIT ACCEPTANCE CORPORATION
State: OR
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Loan sold or transferred to another company

Complaint:
I am a XXXX, so I often spend periods of up to 9 months out of the country while I am on a ship. While I was at sea, I wanted to fix my credit, so I paid everything outstanding off. When I got back to shore at the end of 9 months I went to buy a car. In XXXX I went to XXXX XXXX of XXXX Mississippi and bought a used 2013 XXXX XXXX. They said that although I had nothing negative, and a {$2000.00} down payment, I didn't have enough positive credit to finance a used car. I said there must be something they can do, so the car dealer called Credit Acceptance. First of all, I believe the loan amount is not what I agreed to pay. The car itself was around {$4000.00} on the lot, and the financed loan amount according to Credit Acceptance is more than {$13000.00}!!! OK, so I called and told Credit Acceptance about it, and they said it would get straightened out and in the mean time I should continue making payments. Every time I would call and let them know that I thought the financing amount was wrong. They accepted my payments, and accepted my payments. I even paid a bit extra trying to pay down the loan. This continued for several months until one month I went to go pay and they wouldn't accept my payment - they said they were no longer handling my loan anymore and provided no additional information!! They didn't contact me, they didn't tell me who I needed to start paying, they couldn't tell me my payoff amount or anything - they just said they were no longer handling my loan. Not only that, they said the amount I paid early they had made a check and sent that back to the dealer, XXXX at XXXX XXXX!! I called the dealer, and they said that Credit Acceptance had sent them a check for the difference in my payments! They didn't say how big the check was, or if the car was paid off. I emailed the dealer trying to get something - anything - in writing, and I got nowhere. I can see on my credit report I have a XXXX point drop, as I was trying to refinance at the time and was completely unaware that my loan was being sold. I am very upset at Credit Acceptance for selling my loan, sending the DEALER back my " overpayment '' and not notifying me AND doing nothing to straighten out the wrong loan amount. I would like to OWN the car but at this point I don't even know who to pay!! Although I once talked to XXXX on the phone, he said to email him, so I emailed him and he never responded - I have tried to call repeatedly and not gotten through to XXXX again. Another issue is I was charged a title transfer fee and I believe I was charged twice - once at the dealer and then again when the same amount was rolled into the financing. I am currently at sea, and can't even drive the vehicle and very annoyed that they sent my " overpaid '' money to someone and won't even tell me the amount or how close I am to paying off the loan. This situation is outrageous! Please help!!

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