Credit Acceptance Corporation Auto Loan

1.6 out of 5 stars
19 Reviews

From Borrowers in the last year


Application Process

2.5 out of 5 stars

Customer Service

1.5 out of 5 stars

1.5 5

Compare Auto Loan Rates

View your top Auto Loan recommendations and compare rates on Credit Karma.


Most Helpful Positive Review

Sep 20, 2016
wejgfqy Borrower

Down payment was big, monthly payment wasnt the best interest was 24%. I made my payments on time every month and never had a problem out of them. My wife totaled the car and the insurance paid it off , Credit acceptance marked paid on time and account closed.

more ...

Was this review helpful?


Most Helpful Negative Review

Mar 14, 2017
Anonymous Borrower

awful company will never get a loan from them again.

more ...

Was this review helpful?


These reviews were written by current and former borrowers in the last year.

Mar 27, 2017
Anonymous Borrower

They gave me a chance to get a decent car when no one else would.  I had to put a big down payment on it, but it was because I was extremely irresponsible with my credit.  The dealership I got the car from was pretty good and I am still driving the same car 12 years later.  I am grateful I was able to get something with my crappy credit and paid the car off in 3 years.

more ...
Mar 14, 2017
Anonymous Borrower

awful company will never get a loan from them again.

more ...
Feb 26, 2017
scam company!!!!!!
Anonymous Borrower

those of you thinking of using credit acceptance.. DONT DO IT. We have been makig our payments on time every month for over 1 1/2 yrs (half of our contract of 3 yrs)  Jay called to see what the balance was that we owed, THEY TOLD US THAT DUE TO IT BEING A "NEW YEAR" MORE INTEREST OF 110% KICKED IN AND NOW WE OWE THE ENTIRE -ENTIRE- AMOUNT AGAIN. we went from owing about 6,000 to 13000!  who does that?! They literally keep you in debt... this is absolutely ridiculous. Now its going to look bad on us even though we have paid them! 

DO NOT USE CREDIT ACCEPTANCE. They will scam you into debt for a vehicle not even worth a 3rd of the price. 

I have a 2007 toyota rav 4 its worth 6,000 if you buy it.. this company wanted 12,000 after interest.. so we made payments of 480 a month. Got down to half the amount and all of a sudden its up to 13000 because we didnt pay it off completely fast enough. They said it was in the contract (probbably fine print). so they scam you out of a vehicle and money!! In all they basically wanted 24,000 for a car worth 6,000!  All because your credit is bad, yet they set you up to fail so you never pay them off which obviously makes your credit worse. 

Do not do it!!!!

more ...
Feb 19, 2017

I understand most reviews are negative, but I image all these reviewers are using a sub-prime lender for a reason.  I was in a terrible way after a divorce, the crappy car I kept in the deal died, needed a new car NOW to get to work, and they came through with a loan (yes, it was 19% interet, but my credit was a mess) which got me back on the road.  I always paid a little extra one week early every month, refinanced with another lender after a year and never had a problem.  I made my first payment 2 days late (my fault) and they did call multiple times the very first day it was late, so they are agressive, but after that since payments were on time, I never heard from them again.  Why would they bother me as long as they got their money?

Seriously people - you are going to Credit Acceptance Corp for a reason.  They are taking a huge risk with you.  Just pay them on time and accept them for what they are.

My only real complaint is they don't have ANY online cusotmer portal.  Seriously.  It's 2017.  Come on!

more ...
Feb 17, 2017
FACTS357 Borrower

THEY are a predator company that takes advantage of the poor.

more ...
Jan 26, 2017
Anonymous Borrower

They lie and they repo your vehicle saying your behind even when you have payments set up a certain way i was paying 150 every two weeks and they repoed my car and added a repo fee on to it saying i was responsible for it so in total i had to pay 600 dollars to get my car back which is ridiculous and they reprated this ror months

more ...
Jan 12, 2017
They are cruel!
RTG16 Borrower

I had two suv's through them. Paid off one in 2013, this past october a car hit me and totaled my other suv. My insurance and gap insurance paid off what I owed left. This company reported my account as closed derogatory and that it was in collections and paid off. This has drastically reduced my credit score and trying to get this company to help me is obviously not working.

more ...
Dec 13, 2016
Anonymous Borrower


more ...
Oct 26, 2016
Anonymous Borrower

As with any  bad credit loan, there is great risk but I think it is not Credit acceptance selling the cars, it's the dealer and for those who have had bad luck with the cars, I don't think CAC has anything to do with that. I just got approved for a loan with CAC but I made sure to go to a reputable dealership where the cars on the lot are not messed up. Do your homework and just make your payments on time and you will never have to deal with their nastiness. I will be refinancing this loan in a year because my credit will be in a better position to deal with a conventional bank.

more ...
Add a Review

Add Your Review

I Own It I Had It I Applied

Please state your experience.

How would you rate this loan overall?

Please select a rating

What should others know about this loan?


How was application process?

How was customer service?

Join the Credit Karma Community

It’s free, and you’ll get tools and info that can help you improve your financial health:

  • Credit scores and reports
  • Credit monitoring
  • Personalized recommendations