- Report: #248372
Complaint Review: Credit Acceptance Corporation - Southfield Michigan
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Credit Acceptance Corporation
25505 W Twelve Mile Road Southfield, Michigan, U.S.A.
Phone:
800-634-1506
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Credit Acceptance Corporation Credit Acceptance Would Not Give Me My Title Till My Loan Was Paid Off Ripoff Southfield Michigan
While i purchased my car in October 2006. I never had a problem with them at all. I asked them to change my payment to a different day with no problem they withdrawled the funds the day i asked. But as of two weeks ago i re-financed my car with someone else and they needed the title i did not have and never thought about it till the re-finance company said that they needed it. When i called Credit Acceptance and asked for my title they told me i can have my title to my car when my loan is paid off. I explained to them that they could mail it to the new loan company and they said the same thing as before this time being rude. So needless to say instead of arguing with them i drove up to the Secretary of State and ordered another one which was forwarded to the new company. It is just a little irratating that i would have to go buy a title and as rude as they have been. But by next week, i will no longer have to deal with them.
Ashley
Whitmore Lake, Michigan
U.S.A.
Ashley
Whitmore Lake, Michigan
U.S.A.
4 Updates & Rebuttals
Scott
Kentwood,Michigan,
U.S.A.
Michigan Titles
#2Consumer Comment
Mon, May 14, 2007
My wife and I live in Michigan, and I can say with certainty that the individuals do hold the titles to their own vehicles. With my wife's Malibu, she had the title before it was paid off. In fact, there was a hold up when we traded it in for the Durango because the lien holder (Huntington Bank) hadn't signed off since they didn't hold the title. As of right now, we are holding the title to the Durango and it still has a loan on it. As for the instant title, perfectly legal if your name is on the title.
Chris
Euless,Texas,
U.S.A.
Talk to those refinancing the vehicle
#3Consumer Suggestion
Sun, May 13, 2007
If you refinance a vehicle, the place you are refinancing with would send a check to pay off the car where the current loan is. That company (the one you are with now), once paid in full, will transfer and get the title to the new loan company. You never see the title until you own the car 100% and owe nothing on it. If you had the title you could sell the car and tell the loan companies to take a hike, and while I am sure you are nice, you are not that nice as far as they are concerned. You will also have to provide your insurance company with the new finance company information and be sure the new finance company has all of your insurance info on file with them.
Ashley
Whitmore Lake,Michigan,
U.S.A.
Michigan is a Title Holding State
#4Author of original report
Sat, May 12, 2007
Well like you said Michigan is a Title Holding State which means you should get your title and on the title is a lien holder, which is where there name would be. So no i did nothing wrong they did.
Sherri
Piedmont,California,
U.S.A.
NO LENDER WILL RELEASE TITLE UNTIL LOAN IS PAID OFF....
#5Consumer Comment
Sat, May 12, 2007
That title is their security that the loan will get paid, or if not, gives them the right to sell the vehicle in event of default. They were not going to release title to anyone without the note being paid off. How is this a rip-off? So you obtained another title to give to the new company? Something isn't right here...the new lender would pay off the old loan and THEN the original lender would send title to the new lender. Not sure about Michigan law, but in some states, that can land you in legal hot water. Did you tell the Secretary of State's office that the original title was being used to secure a loan? If not, you may have committed fraud.
