Consumer complaint received 2025-11-12 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: CREDIT ACCEPTANCE CORPORATION
State: GA

Complaint narrative:
Consumer Name : XXXX XXXX XXXX Address : XXXX, GA XXXX Company : Credit Acceptance Corporation ( ACCT : # XXXX ) Dealership : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NC XXXX Vehicle : 2004 XXXX XXXX XXXX XXXX : XXXX Summary Credit Acceptance Corporation and XXXX XXXX XXXX XXXX XXXX financed my 2004 XXXX XXXX Sport without fully disclosing the true finance charge. I was required to obtain outside insurance, pay an unlawful down payment, and was never given a right-to-cancel disclosure. These actions violate the Truth in Lending Act ( 12 CFR 1026.4, 1026.23 ), FTC rules, and UCC provisions. I request full rescission of the contract, refund of all payments and down payment, and deletion of any related tradelines. If this matter is not resolved, I reserve the right to pursue all available legal remedies, including arbitration. 



Detailed Complaint Narrative I am filing this complaint because Credit Acceptance Corporation, in conjunction with XXXX XXXX XXXX XXXX XXXX, engaged in deceptive and unlawful practices related to the financing of my 2004 XXXX XXXX Sport ( VIN XXXX ). 

XXXX. Failure to Fully Disclose Finance Charges Credit Acceptance failed to include all mandatory costs, including required insurance, in the disclosed finance charge, violating the Truth in Lending Act ( TILA ) under 12 CFR 1026.4. 
I was forced to obtain separate insurance coverage outside the loan, which should have been included in the finance charge and Annual Percentage Rate ( APR ). 
By failing to disclose these costs, Credit Acceptance misrepresented the true cost of financing, invalidating the contract under 12 CFR 1026.23 ( Right of Rescission ). 



XXXX. Unlawful Down Payment Requirement The dealership required a down payment before the financing terms were finalized or disclosures were provided. This practice violates : 12 CFR 1026.2 ( a ) ( 18 ) Definition of finance charge ; 15 U.S.C. 45 ( a ) Federal Trade Commission Act, prohibiting unfair or deceptive acts. 

Consumers can not be required to make payments prior to complete disclosure and approval of loan terms. The down payment was therefore unlawful and coercive, serving to trap me into an undisclosed finance contract. 



XXXX. Denial of Right to Cancel I was never provided a Notice of Right to Cancel or the three-day rescission period required by 12 CFR 1026.23 ( b ).

This omission stripped me of my statutory right to review, compare, or rescind the agreement. Under TILA, the absence of rescission rights renders the loan voidable and unenforceable until corrected. 



XXXX. Pattern of Deceptive Conduct Credit Acceptance and the dealership engaged in a coordinated pattern of deceptive behavior, including : Concealing the true cost of financing ; Requiring insurance outside the contract ; Requiring a pre-disclosure down payment ; Denying me my federal right to rescind. 

These actions violate multiple consumer protection statutes and demonstrate willful disregard for fair lending obligations. 



XXXX. Legal Violations Truth in Lending Act ( TILA ) : 12 CFR 1026.4, 1026.17, 1026.23 incomplete finance charge disclosure and denial of rescission rights.

Federal Trade Commission Act : 15 U.S.C. 45 deceptive and unfair trade practices.

Uniform Commercial Code : 9-6099-611 unlawful conditional delivery and sale without full disclosure.

Consumer Financial Protection Act : 12 U.S.C. 5531 abusive and deceptive acts against consumers. 



Requested Resolution XXXX. Full rescission of the XXXX  XXXX XXXX XXXX finance contract. 
XXXX. Refund of all payments and the down payment made toward the vehicle. 
XXXX. Deletion of all related tradelines and credit reporting entries from XXXX XXXX and XXXX 
XXXX. Written acknowledgment that the contract was defective under TILA and is void ab initio. 
XXXX. Assurance of compliance with all disclosure requirements for future consumers. 



XXXX. Next Steps If this matter can not be resolved through the CFPBs intervention, I reserve the right to pursue all available legal remedies, including arbitration under applicable federal and state consumer protection laws. 
This includes seeking rescission, refund, and statutory damages for TILA and FTC violations.

Declaration I certify that the information provided above is true and accurate to the best of my knowledge. Documentation supporting my claims, including purchase receipts, insurance records, and correspondence, will be submitted upon request. 

Signed : XXXX XXXX XXXX, GA XXXX

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