Complaint Review: Credit Acceptance Corp - Southfield Minnesota

The we is my husband and I. Why question my credit? In 1996 I lost everything I owned when my husband was hurt at work. This company could not get their act together we had to go back four time to resign the note. Because it was never right. Yes, I keep insurance on my vehicles. No we were not told that this was like a credit card account. The place we bought the Rodeo left town. This new place was honest with us. We are not the only people to be done this away with this company a lot of people were done this way by Credit Acceptance in this area. If you see this name on any loan of any kind Do not sign. When I was hit with the law suite they had to do it in OKC not local. I have to work for what I have, I can't take off just any old time. One week's notice was impossible. Why did it take so long for me to file this I just don't know usually I have to work 5 or more days a week. If you turn back a vehicle let them come and pick it up never call them. We should be able to accept what people say at face value, we should not find it out a couple of years later when we need to use a lousy no good warrenty.

Joleen, Several things in your post simply do not make sense. Let me clarify. First, this incident happened THREE YEARS ago, and you are just now reporting it to ROR? Second, you said your car was wrecked in OKC. OK..Did you not have full coverage insurance on it? If not, why not? Most full coverage policies have towing and loss of use [rental] coverage. Third, you never mentioned what type of car [year and model] you wrecked, or what condition it was in. Fourth, you bought this Rodeo financed by credit acceptance becuase your credit and/or financial situation already sucked! Fifth...And most important...All sales of motor vehicles must be done with FULL DISCLOSURE of both the purchase price of the vehicle, and also full disclosure of financing terms and conditions. What I'm saying is that the total price financed, interest rate, monthly payment , term of loan, etc. were all full disclosed PRIOR to you signing the contract. So, with that said, WHY would you sign it if you did not like it???? And, your post refers to "we", so who was the other person involved in this transaction? That means TWO people signed with reading! You dug your own hole.

""We were told to tell this company to come and get it and stop making payments on the vehicle because the company had the vehicle loan set up like a credit card and we would never pay it off."" You were given BAD ADVICE as you now know. Once a loan agreement is signed by the lender and the borrower you are locked in. It is NEVER in the borrower's best interest to allow a reposession if it can be avoided.

""We were told to tell this company to come and get it and stop making payments on the vehicle because the company had the vehicle loan set up like a credit card and we would never pay it off."" You were given BAD ADVICE as you now know. Once a loan agreement is signed by the lender and the borrower you are locked in. It is NEVER in the borrower's best interest to allow a reposession if it can be avoided.

""We were told to tell this company to come and get it and stop making payments on the vehicle because the company had the vehicle loan set up like a credit card and we would never pay it off."" You were given BAD ADVICE as you now know. Once a loan agreement is signed by the lender and the borrower you are locked in. It is NEVER in the borrower's best interest to allow a reposession if it can be avoided.

""We were told to tell this company to come and get it and stop making payments on the vehicle because the company had the vehicle loan set up like a credit card and we would never pay it off."" You were given BAD ADVICE as you now know. Once a loan agreement is signed by the lender and the borrower you are locked in. It is NEVER in the borrower's best interest to allow a reposession if it can be avoided.