Consumer complaint received 2015-03-22
Company: CREDIT ACCEPTANCE CORPORATION
State: AZ
Product: Consumer Loan
Sub-product: Vehicle loan
Issue: Shopping for a loan or lease

Complaint:
I went to XXXX XXXX in XXXX, AZ to purchase a vehicle. I previously purchased a vehicle 8 years ago when it was XXXX XXXX. But, I did not have a good experience with a recent purchase. The salesman, XXXX XXXX, was misleading in the information he gave me about the financing and refinancing of the vehicle. The vehicle was more than XXXX XXXX XXXX value as confirmed by my bank and another dealer. I could not get alternate financing for the vehicle because of it. Now I am in a vehicle with extremely high financing rate and payments that I can not afford. I told XXXX several times I wanted to wait to get things straight with the bank and was pressured to move forward with the deal based on information he told me about the financing and refinancing of the vehicle. The purchase was made on XXXX/XXXX/15 and when we called on XXXX/XXXX/15 and went there we were told that the Manager ( who I assume is XXXX XXXX ) would not approve of taking the vehicle back. The circumstances and dealings with XXXX XXXX are shady and not very honorable. I have contacted the finance company which is Credit Acceptance as well as the Office of the Attorney General to file a complaint. There was also hidden damage on the vehicle under the front license plate. This was not seen since they had their dealership plate covering the damage. XXXX XXXX uses Credit Acceptance as a finance company for their sales. They force deals on you with Credit Acceptance by doing the " verification '' process and they receive direct funding in day as stated by XXXX XXXX who ( owner/salesman of XXXX ) and is a " featured dealer '' on the Credit Acceptance website for advertising purposes. They asked for my bank statements. pay stubs, etc. that very day so they could get paid immediately and the deal is funded. This completes the verification process and assures that XXXX will be paid immediately on their deal regardless if they have misrepresented information or used predatory sales/credit practices. Credit Acceptance 's " Portfolio Program '' that XXXX participated in allows them to receive an up-front profit and to share in collections. The owner/salesman XXXX XXXX will do everything possible to close the deal to the point of falsifying most everything he can to put you in a car with the highest interest rates he can because of the funding he receives from Credit Acceptance. I have contacted Credit Acceptance on XXXX/XXXX/15, XXXX/XXXX/15, XXXX/XXXX/15 with regard to this situation. No one has returned my calls ( including XXXX XXXX -- XXXX ). I sent a complaint also to Credit Acceptance 's customer service to get this resolved and have not received any contact. My bank, XXXX, has temporarily issued a credit for the deposit that I put down but that is until they complete their own investigation so it may not be permanent. XXXX XXXX was stalling on the deal to with me telling that he had already been paid/funded ( XXXX/XXXX/15 ). There was nothing I could do about it because the Credit Acceptance contract would not cancelled/revocable once accepted. We tried again on XXXX/XXXX/15 to return the vehicle and was told by XXXX that he would have it towed if we left it there. I have contacted my financial institution, Credit Acceptance, XXXX, FTC, AZ Attorney General, and a local TV station to assistant with this situation to get an acceptable resolution.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation