Consumer complaint received 2022-09-09
Company: CREDIT ACCEPTANCE CORPORATION
State: GA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Getting a loan or lease
Sub-issue: Fraudulent loan

Complaint:
On XX/XX/2022, I contacted Credit Acceptance loan company concerning bank fraud/ procuring a loan fraudulently via XXXX XXXX XXXX For clarification, I was coaxed into sending paystubs to get a vehicle as a co-signer, although they were not accurate. The original primary person XXXX XXXX, was denied a loan due to his credit score, leaving him with no option but to bring someone else in. On the day of, at XXXX XXXX, XX/XX/2022, I informed the sales agent something was wrong with my work portal for my second income, and the dates were switched in our system and not displaying my check stubs. I emailed my employer while at dealership concerning the issue. I was then told to just submit what was on sight, by sales representative so they could get the vehicle to XXXX. I then informed them that the information was not accurate, and was told they would handle that. I expressed my disdain by objecting and walking out. I was then contacted by XXXX from XXXX at XXXX XXXX, for several days afterwards, for resigning loan papers and going with a different bank lender, and I declined involvement with the bank fraud. With the correct paystubs, my debt-to-income ratio would also be too high to be accepted for the loan. However, on XX/XX/2022 I was called to come in to speak with XXXX XXXX management team, XXXX XXXX, and XXXX in finance, managers. They told me a totally different story that the loan was not process due to a letter of residency needed a month ago by XXXX XXXX, and that they no longer wanted to do business with me or him, and to return the vehicle immediately, or they would issue a stolen vehicle BOLO. I was certainly under duress, because my freedom was at state. They then pressured me to find the vehicle and return it to the lot, or they would pursue Stolen Vehicle report, and would not stop until it was done. Later that evening, XXXX Police Department located the vehicle, but told XXXX whom was on the phone with me, that the dealership needed to file the police report to get back the vehicle, because I did not need to do it for my protection. I was then told by XXXX that he filed a Police Report with XXXX XXXX, XXXX  Police Department, concerning the vehicle. However, on Sunday, XX/XX/2022, the vehicle was located and no such report was made, to repossess the vehicle, and on XX/XX/2022, XXXX XXXX from XXXX XXXX, called me to inform me that XXXX XXXX turned in the letter of residency, but overlooked the fraud issue. I then informed her that the deal was suppose to be off the table, per management, and what was she talking about? She advised me that she did not know about that. Once I was enlightened of the false claim of report to police and XXXX XXXX not honoring the fraud revelation, I declined to be involved any further with them and sought a higher authority to void this contract due to known fraud by the dealership. 

Furthermore, on XX/XX/2022 I received fraudulent documents concerning my electronic signature and initials. I did not sign up for that service nor gave authority to XXXX XXXX to sign without my knowledge to procure the loan. Electronic signature is still required by law to be given by signer not by dealership. These are fraudulent documents. Because I made the loan company and dealership aware of the issue within the three ( 3 ) day cancellation procedure, I am not and will not be held liable. 

In addition, I have attached the discrepancy with paystubs and email correspondence from that day proving my side. This gives grounds for automatic termination of the contract.

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