Credit Acceptance Corp.constant harassing phone calls and immediate repossession

S
This review was posted by
a verified customer
Verified customer

This company was yes willing to help me due to my credit issues, but the finance charges are totally insane. I purchased a SUV in 2008 and still have 2 more years on it and I am well passed the vehicle's value amount. The placed a device in my vehicle that will shut it off if the payment is late. My payment is due on the 19th, 10 days after with no payment is automatic REPOSSESSION, no questions asked. They call back to back 5 or 6 times a day!!! Talk about harassing!!! Why keep calling if what I have to tell you doesn't matter anyway. Word of Advice to anyone. It ain't worth it. If Credit Acceptance offers to finance you, RUN, RUN, as fast as you can.

Responses

  • Am
    amm10685 Feb 27, 2012

    I currently have a vehicle with CAC and there are pros and cons, for example they are helping me build my credit and what most people do not realize is that during a credit rebuilding you have no options, you are going to pay more than you should but if you hadn't screwed up in the first place then you wouldn't have to find someone to approve you... CAC approved me and they are helping build my credit and yes it's almost 19% interest BUT i am only on 3 years and 9 months financing. NOW I am always on time with my payments but god forbid you are late for example today is 2/27/2012 and my payment is due on the 25th which this month was friday and they are closed on the weekends...well I got paid friday and they were closed on the weekend and I am always on time and pay more than needed but today I have a jack *** call me and was rude to me, they help rebuild but they are ***hols to deal with when it comes to being even a day late... if you can't be on time even one day late they are going to harrass you SEVERAL times a day... word of advice...don't screw up your credit or don't complain because you have to start somewhere.
    Aaron-Oklahoma

    0 Votes
  • Ma
    Marvin42 Dec 05, 2011

    are you sure they are trustworthy? maybe you should check their phone number on http://www.tellows.com and see if you can find some information about them...

    0 Votes
  • To
    Toxice Nov 11, 2011
    This comment was posted by
    a verified customer
    Verified customer

    On 10/26/2006 I purchased a car at Philly Auto Loan and the creditor used to was Credit Acceptance the cost of the Car was 10, 205 and the finance chagers were to be 4290.88 however accodring to the detailed transaction report I recieved from the shows that I have paid 4700.27. When asked why? I was informed it was due to late payments but according to the retail installment contact I should have been charged 2%per month on the amount of the payment or payments late. According to the manager I spoke with named Kathy she informed me that my outstanding balace on the loan is 1002.67. When asked why she informed me that this balance stims from late payments throughout the life of the life of the loan. Keep in mind according to the Retail installment agreement this was to be a simple intrest loan. I continue to ask how are they calculating these figures but I am getting no were with creditors and it appears I may have to pay the addtional monies in order to obtain my title. I also contacted the BBB in Michigan the complaint was closed because the company has not repsonded. If you can help at all please assist.

    0 Votes

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