Consumer complaint received 2016-09-22
Company: CREDIT ACCEPTANCE CORPORATION
State: IL
Product: Consumer Loan
Sub-product: Vehicle loan
Issue: Taking out the loan or lease

Complaint:
I encounteted this business on XXXX/XXXX/XXXX. XXXX was my salesman and XXXX was on finance. I was told and showed the vehicle being XXXX. The contract was done via computer and XXXX showed me a deal for XXXX with a down payment of XXXX. After electronic signatures was obtained XXXX was printed and placed in a sealef envelope. I was contacted by XXXX and advised to call Credit Acceptance to verify residency and they quoted me figures that sounded quite foreign to me. So i called Credit acceptance and advised them that i did not want to verify at this time and allow me to contact the dealership. They also stated they would put it to the side and escalate the issue. ( However the I encounteted this business on XXXX/XXXX/XXXX. XXXX was my salesman and XXXX was on finance. I was told and showed the vehicle being XXXX. The contract was done via computer and XXXX showed me a deal for XXXX with a down payment of XXXX. After electronic signatures was obtained XXXX was printed and placed in a sealef envelope. I was contacted by XXXX and advised to call Credit Acceptance to verify residency and they quoted me figures that sounded quite foreign to me. So i advised them that i did not want to verify at this time and allow me to contact the dealership. They also stated they would put it to the side and escalate the issue. I then went to the dealer and spoke with XXXX who informed me that the vehicle was XXXX but the finance company charged them XXXX to take my deal which the price is now XXXX. He also informed me with the price being that amount they only received XXXX from the deal which wasnt really a profit. I was under the assumption i was financing XXXX. He was trying to settle the situation until he looked in the computer and it said deal was funded. He then became rude and stated this issue is now between you and Credit Acceptance not us. You signed it and we have been paid. Thus leaving me financing a XXXX car for XXXX. I feel that this company is a scam and needs to be investigated. I am also pursuing this issue with the finance company to ensure future contracta from them are fully investigated. finance company verified the account anyhow without my consent ) I then went to the dealer and spoke with XXXX who informed me that the vehicle was XXXX but the finance company charged them XXXX to take my deal which the price is now XXXX. He also informed me with the price being that amount they only received XXXX from the deal which wasnt really a profit. I was under the assumption i was financing XXXX. He was trying to settle the situation until he looked in the computer and it said deal was funded. He then became rude and stated this issue is now between you and Credit Acceptance not us. You signed it and we have been paid. Thus leaving me financing a XXXX car for XXXX. I feel that this company is a scam and needs to be investigated. I am also pursuing this issue with the finance company to ensure future contracta from them are fully investigate. I constantly have to call the finance company about the mattet in which speaking with XXXX today basically stated oh well im stuck with the deal.

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