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

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Most Helpful Positive Review

Jun 09, 2015
They'll accept you, I'm sure..
ifelloverit Borrower

I have an auto loan through Credit Acceptance, and they were relatively easy to go through. The only problem I have, is that the interest rates are a tad high; however, with my current credit rating, it's to be expected. In a few months I'll refinance, but for now, I'm glad they've accepted my application.

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Most Helpful Negative Review

Oct 02, 2015
They don't give you a copy of your title

I purchased a SUV and Credit Acceptance became my creditor, 10/22/2010. On 10/22/12 I wanted to use my car as a trade in to purchase my current SUV , it turns out not even the finance company had a copy of the title and wouldn't show me proof that they were thee actual owners of the vehical once the car was financed. I ended up having to keep the car and paying two car notes two insurances. I then stop paying the car note on my 1st vehical and set up an escrow account and demand my title. 5 months went by and next thing I know Credit Acceptance went to where my car was stored which was strange bcus they never were told where it was at. I get a letter in the mail 11/2013 stating they repo my SUV and I could retain it IF I paid them .(STILL NO TITLE) I paid them 2500 remaining balance and then was told I can make arraignment to pickup my SUV. I called set an appointment just to find out my car was 2 hrs away from my location . When I got to the location to pick my vehical up they wanted me to sign for it before I saw my vehical. I was shown pictures of it when it was brought In but never say it since they had it. My SUV was damaged with a cost of repairs of $5500 and they lost the key to my vehical and tried to sell me a key from their on site lock smith for $150 , I declined the offer. I called AAA towing company to towe my SUV wasn't drivable. When the tow guy went to the lot to get my car he came back to me and said it will be awhile because they are digging my car out of a snow hill, not only did they strong arm to get the balance that was owed on the loan by repo the vehical and still refused to give me the title until after a month of me paying the balance in full, my car was damaged, they let my windows down and allowed the snow to fill thee insides of the car and had my car underneath a snow him which means they were shoveling the snow and just piled the snow onto my vehical while it was parked on their lot. I eventually bought another body for my SUV because the damages were horrible and out of the 4 years I had the SUV I drove it mainly 2-3 months out the year bcus it was sold to me with many problems resorting to replacing electrical system, gas tank and lines, heating and cooling system, new transmission, new engine, basically I bought a lemon and when I paid for all the repairs that were done ONLY at the Superior GMC dealership they wanted the car back but I declined their offer to buy back .They can't be trusted and they may not even have the title of your car in their possession and give you a hard time when your trying to use the vehical as a trade in. I really believe they was trying to block me from doing business with someone else.

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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.

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Mar 14, 2017
Anonymous Borrower

awful company will never get a loan from them again.

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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!!!!

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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!

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Feb 17, 2017
FACTS357 Borrower

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

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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

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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.

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Dec 13, 2016
Anonymous Borrower


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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.

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