Consumer complaint received 2025-12-15 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Repossession — Lender trying to repossess or disable the vehicle
Company: CREDIT ACCEPTANCE CORPORATION
State: IN

Complaint narrative:
I am disputing my auto loan with Credit Acceptance Corporation and seeking rescission of the contract due to deceptive and unlawful practices. The vehicle transaction was a conditional/yo-yo financing arrangement that was never validly finalized, and Credit Acceptance is using the contract deceptively to collect payments and repossess the vehicle.

XX/XX/XXXX Conditional delivery and failed financing I paid a {$3000.00} down payment to a XXXX dealership. On XX/XX/XXXX, I was contacted by the dealership and told to return the vehicle because financing was not finalized, or I was required to obtain a co-signer. This occurred after delivery of the vehicle. I was also told I needed {$5000.00} down for the vehicle I originally wanted ( XXXX XXXX ), which I did not receive. 

After I filed a complaint with the dealership regarding being told to return the vehicle, I was suddenly told that I no longer needed a co-signer and was pressured to sign new documents or return the vehicle. This constitutes conditional delivery/yo-yo financing and coercive re-papering of the contract after delivery. 

Misrepresentation of vehicle condition The vehicle was represented as being in great condition. Within one year, the transmission failed, and the transmission fluid was black, indicating pre-existing mechanical issues that were not disclosed at the time of sale. 

Deceptive payment application and APR Since XX/XX/XXXX, I have paid approximately {$18000.00} in monthly payments, in addition to the {$3000.00} down payment, and {$1700.00} in repossession recovery fees ( {$880.00} paid twice in XXXX ). The vehicle was represented as approximately {$24000.00} out the door ( {$21000.00} after down payment ). 

Credit Acceptance claims that nearly all payments were applied to interest only due to a 20 % APR, which was never clearly explained or meaningfully disclosed to me. I did not understand how my payments could be applied almost entirely to interest, and I have repeatedly requested a written itemization and accounting of charges, which has been refused.

A Credit Acceptance compliance representative stated that they do not have to provide a written statement of charges and that I could only view information through the app or contract. This refusal to provide a written accounting prevents me from verifying the legitimacy of the charges and payments. 

Repossession and coercive payment demands My vehicle has been repossessed twice in XXXX. Each time, I paid {$880.00} to retrieve it. Despite this, Credit Acceptance demanded an additional {$740.00} under threat of repossession, even though my regular monthly payment is {$560.00}. I was placed into a promise-to-pay agreement under threat that my vehicl
e would be repossessed if I did not agree. I was told Credit Acceptance does not have to accept partial payments. This agreement was coerced and based on a contract that I am disputing as invalid.

Why this is deceptive and unlawful Financing was not finalized at delivery, 
making the contract voidable I was coerced into signing documents after delivery The vehicles condition was misrepresented APR and payment allocation were not clearly disclosed ( TILA concerns ) Credit Acceptance refuses to provide a written accounting Repossession and payment demands are based on a defective contract

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