Consumer complaint received 2024-05-02 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with additional products or services purchased with the loan
Company: CREDIT ACCEPTANCE CORPORATION
State: TN

Complaint narrative:
On XX/XX/XXXX, I purchased a XXXX XXXX XXXX from XXXX XXXXXXXX XXXX XXXX in XXXX XXXXXXXX XXXX  The loan was approved with Credit Acceptance as the finance company. Since previous issues arose, that I tried to have corrected with Credit Acceptance directly, I have now been made aware of a more pressing issue. The entire loan is based on a fraudulent contract drawn up by a finance manager who, as of XX/XX/XXXX, no longer works with the dealership. The contract submitted to the bank notes a total {$5000.00} down payment, including a trade in of my husbands vehicle valued at {$1000.00}. The dealership never took possession of the vehicle, and the title still remains in my husbands name. He drives it daily, and we insure the vehicle. Additionally, my husband did not sign the contract, though he is listed as the primary account holder. I made a {$3500.00} down payment, which the dealership confirmed shows in their records. This means there must be 2 different copies of a vehicle contract ; one that the dealership has, and one that the bank ( and myself ) have. I have spoken to the bank as well as the dealership about this. The bank told me that they have to honor the truth in lending act and since the dealership claims that there was a trade in, the contract is not considered fraudulent and would not be canceled. They are willing to investigate my husbands signature mismatch and remove him from the account. Although he is primary, this still would not cancel the contract, but instead only remain in my name- Leaving me responsible for a contract I would not have been approved for without his credit information. Additionally, the dealership claims that I must be having some sort of buyers remorse, rather than admit to a shady and illegal contract being upheld and stating is up to the bank to cancel due to the contract being initiated in XX/XX/XXXX. I have asked the dealership to unwind the deal, accept the vehicle back and refund my downpayment. I have reported this to the XXXX XXXX XXXX XXXX XXXX I am now demanding that this be immediately rectified ; I am demanding my down payment be returned as well as the payments made to the finance company. I am demanding the vehicle be returned to the dealership and I am demanding this be paid off to the finance company and the account and credit inquiries affiliated with this purchase be removed from mine and my husbands credit. I have advised that my next step is to involve an attorney however I think in this case I would be wise to involve both my congressman, XXXX XXXX, as well as the XXXX  attorney general instead. This would also be brought to the same local news stations that reported on XXXX  XXXX XXXX being fined XXXX figures for their illegal business dealings as recently as the end of XXXX. I am submitting a copy of this complaint to Credit Acceptnace Corp ( XXXX XXXX ) by email as well as via XXXX message to XXXX XXXX, co owner, XXXX XXXX XXXX. I am also sending a copy handy to my congressman via email and the XXXX  attorney generals office, consumer affairs division via email. I was also keep a copy as well for the news station. I am anticipating this will be resolved favorably as I do not want to see this escalated based on these XXXX shady businesses ongoing corruption, but rather would like to see their businesses practice legitimately.

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