Consumer complaint received 2026-03-04 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Problem with fees charged
Company: CREDIT ACCEPTANCE CORPORATION
State: MD

Complaint narrative:
Credit acceptance finance company on XX/XX/XXXX received a call from them stating that I was late on my car payment which is XXXX monthly and that if I needed help that they could offer a payment plan and how much could I pay and I stated I could pay XXXX and the lady on other line said ok and she set up a payment plan for XXXX to be paied every XXXX and that was it. It felt weird because I was not given any other information or told I would receive a document stating I am on a payment plan so I called back and spoke to a male representative who informed me everything was ok and that yes in system it shows I am on a payment plan for XXXXa mth and no further action is needed. Fast forward to early XX/XX/XXXX I log into online account and see that I am in {$900.00} in the red in late fees that were charged on the last 3 mths of me paying the {$450.00} on the payment agreement. I immediately call them to inquire about the fees which I was told that Everytime I make that {$450.00} payment and it is not the full monthly payment of XXXX that I am charged a late fee because I am not paying the full amount. When they never told me that if I agree to this payment plan that I should be aware that because I am not paying they full amount monthly that I will be accuring about XXXX Something in late fees every payment despite being on a payment plan which is a total trap how do you give me a payment plan and then charge me late fees for paying the amount of the payment plan because it is not the full monthly amount. That defeats the purpose of the payment plan if it's making me owe more money in the end and they are not letting me know upfront what would happen when I accepted that payment plan and all they could say was I am sorry that you were not informed that you would incure late fees every month that you pay the XXXX instead of the XXXX the representative should of told you. when I spoke to 2 representatives that day that I set up payment plan and none of them stated anything that because I would be paying less than the monthly amount that I would receive late fees. I asked do they plan on coming to repo car or what does that mean since I'm behind {$900.00} now in fees that I knew nothing about and when does it have to be paid and representative told me those are just fees has nothing to do with your monthly payment we will not come for ur car unless you stop making ur monthly payment due every month but eventually you will have to pay the fees or they will keep going up. That is misleading and trapping ppl to get more money out of them by making ppl believe that they are actually helping them when actually they are not by withholding information that they are supposed to give you. I asked to speak to supervisor was told that she was in a meeting and that I would receive a call back 3 days passed no call back. I called spoke to a male supervisor who apologized that I was not informed before hand when accepting the payment plan that I would acquire hidden fees on my account ( totally unacceptable ) he then said if I would like to despute the fees that they can send a form out and I can fill it out and return it I told him to mail it and till this day still have yet to receive the form in mail to dispute charges but I received a paper on XXXX certified mail of a repo to happen on XX/XX/XXXX if I did not pay the {$900.00} dollers which I specifically asked them when spoke to them if those fees would cause a repossession and how much time I would have to pay and was told that those fees would not cause a repossession order to be sent out but yet 2 weeks later receive a paper stating that my car is going to be repossessed on a certain date. This company is a liar and a thief and they give out false info and with hold info and I would like my dispute letter that I have yet to receive to dispute those charges and be refunded for those fees.

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