Complaint Review: Credit Acceptance Corporation

When people call financing with Credit Acceptance Corporation a rip-off, they are admitting their own ignorance.  Credit Acceptance is the Only lender I am aware of that will approve anyone, regardless of his/her credit standing.  I have been in the sales end of the car business for 28 years, 24 of those years as a finance director for reputable dealers in the Western New York area.  If you finance with CAC (Credit Acceptance Corp), there are a few reasons why it happened: (1) your credit is so bad no one else will finance you, (2) you didn't do your homework and research the other lenders that may have approved you or (3) you were dealing a dishonest dealership that didn't disclose all the options available to you.  There are more reasons, but those are the top three.  If you fall into the category of (1) then that's too bad.  You should have taken your credit more seriously throughout your life.  Pay All your bills on time and your will never need CAC.  If you fall into the category of (2), shame on you.  There are more resources than ever for people to research automobile financing; don't act like you don't know that or blame it on anyone other than yourself.  If its (3), shame on you again for the same reasons as (2).  Today we are surrounded with ignorance like never before.  More information is available than ever for consumers, but we hear more complaints than ever.  Its no surprise to me; our current government administration seems to encourage the dumbing down of Americans.  Get educated, be accountable for your own actions and shut up.

- Joe