Consumer complaint received 2026-01-29 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Getting a loan or lease — High-pressure sales tactics
Company: CREDIT ACCEPTANCE CORPORATION
State: MI

Complaint narrative:
Consumer Name : XXXX XXXX XXXX XXXX Address : XXXX XXXX XXXX XXXX XXXX, MI XXXX Phone : XXXX Email : XXXX Account Number : XXXX Vehicle : XXXX XXXX XXXX XXXX : XXXX Dealership : XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX, MI Lender/Assignee : Credit Acceptance Corporation Subject : Complaint Regarding Deceptive Auto Financing Practices and Lack of Price Disclosure I am submitting this complaint regarding deceptive, unfair, and abusive acts and practices in connection with an auto loan originated by XXXX XXXX XXXX XXXX XXXXXXXX and assigned to Credit Acceptance Corporation . 

On XX/XX/XXXX, I financed a used XXXX XXXX XXXX through Credit Acceptance after purchasing the vehicle from XXXX XXXX XXXX XXXX XXXX. At no point prior to signing the Retail Installment Contract was I clearly informed of the vehicles purchase price. No firm or definite price was verbally disclosed, and no meaningful explanation of the financial terms was provided.

I was subjected to high-pressure sales tactics, rushed through the signing process, and not given a meaningful opportunity to review or understand the contract. I did not knowingly negotiate or agree to the stated cash price of {$36000.00}, nor did I understand that the total sale price would be approximately {$58000.00}.

After reviewing my contract later, I discovered the following : The cash price of the vehicle was listed as {$36000.00}, an amount never clearly disclosed to me prior to signing.

The total sale price of the transaction is approximately {$58000.00} over the life of the loan. 
The vehicle was a used XXXX model with approximately 94,921 miles, making this pricing grossly excessive and inconsistent with fair market value Only after later reviewing the contract did I discover the true scope of the financial obligation. I believe the transaction reflects unfair, deceptive, and abusive acts or practices ( UDAAP ), including : Failure to clearly disclose material terms prior to execution Obfuscation of the vehicles true price High-pressure signing practices Misrepresentation of consumer understanding and negotiation Structuring a loan with a grossly inflated total sale price relative to the vehicles fair market value I dispute the validity and fairness of this financing arrangement and believe that the lender accepted and enforced a contract that was formed without informed consumer consent. 

I am requesting that the CFPB : 1. Investigate Credit Acceptance Corporations role in accepting and servicing this contract 2. Review whether this transaction constitutes UDAAP violations 3. Require corrective action, including contract review, reformation, or appropriate consumer relief I have sent letters to both the dealership and finance company and have not heard anything back. It has been over 30 days, I also sent a letter to the Attorney General of Michigan for assistance.

This complaint concerns the formation, disclosure, and fairness of the financing agreement itself, not merely servicing issues.

Thank you for your assistance. 

XXXX XXXX XXXX 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