Consumer complaint received 2024-06-21
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: CREDIT ACCEPTANCE CORPORATION (NY)

XX/XX/XXXX I went to XXXX XXXX XXXX XXXX  in XXXXXXXX XXXX to purchase a ( XXXX XXXX XXXX for XXXX ) for my fiance and our XXXX XXXX they claimed that vehicle and every vehicle about four others we had wanted to look at was not available or sold that morning or wouldnt be ready for two weeks or the newer version of what we went to look at was a {$800.00} dollar a month payment after talking for some time he brought me over, and talked me about two cars he had a XXXX XXXX XXXX ( XXXX row seating capacity ) and a XXXX XXXX XXXX ( not third row ) after test driving both ( XXXX started to smoke & had a higher payment and higher mileage ) we decided on getting the XXXX XXXX XXXX for XXXX dollars ( remember I have XXXX XXXX  needed to be able to fit so needed third row ) he ( XXXX ) told me multiple times while waiting for the paperwork to come back that if I kept it a year I would be able to trade back for anything that I wanted, I put XXXX down and they approved me with credit acceptance at a XXXX percent interest rate and a payment of XXXX a month knowing I needed a reliable vehicle for my kids ( I have XXXX XXXX  XXXX whos XXXX and just diagnosed this past XXXX with XXXX XXXX XXXX ) they also set me up with smart pay to take weekly payments to make it easier ( never disclosed that they had a membership fee of XXXX dollars ) we eventually cancelled that and moved over to just pay credit acceptance weekly payments to make it easier, Fast forward to today my fiance calculated all the payments made and down payment because XXXX XXXX  is only saying weve paid only XXXX dollars and we know its way more than that, so we called credit acceptance today to see what has been applied to interest and what has been applied to principal, they claim that she had no way of telling me this because they dont do that just that she can give me my total remaining balance with interest and told my fiance she can give a pay off quote then proceeded to tell me that we still owe {$31000.00} with interest and a pay off quote of over {$18000.00} after arguing this fact for some time she told my fiance that this is a compact interest loan contract ( another thing that wasnt disclosed at signing ) also she told me that they dont do these type of loans anymore, and to me almost nothing of the {$10000.00} went towards principal, its a little discouraging to pay {$15000.00} on a car in 16 months to be told I still owe almost every that I financed the day I left the dealership & if I do a voluntary repo that it goes to auction and could sell for a significantly lower price ( XXXX ) and still be on the hook for majority of the pay off ( XXXX ), not to mention I cant trade it back in because Im already upside down in the loan its not worth whats owed on it and then not to mention the radio already went and not covered under warranty or the extended warranty ( that cost extra {$1600.00} they had me purchase so we cancelled that ), Ive already took this back to the dealership three times, and called multiple times for issues since the day after I got the car about breaking issues ( feel vibrating when pressing the brake ) and the dealership keeps saying nothing is wrong brakes and pads was new but multiple people seen and felt while driving and had same complaints I did, or even the fact how they treated the radio insistent they told my fiance to just go after market for the radios touch screen stopped working ( I cant blue tooth phones I cant change am/fm radio stations and I cant even access the cars service options because its all in the radio, I refuse to do that to a car Im paying so much money for! ( By the way the call was recorded she said this about three or four times while I was adding/giving permission for my fiance to speak ) ( not to mention that after all this while looking for this website CFPB and some type of direction on how to handle this I see articles that they was sued and settled for XXXX XXXX dollars for this exact reasons last year after I got my car loan and again that wasnt disclosed to us either )