- Report: #1378453
Complaint Review: Credit acceptance corporation - Nationwide
-
Author Not Confirmed
Why?
Credit acceptance corporation
Nationwide, USA
Web:
N/A
Categories:
Business Rating:
(0)
Tell us has your experience with this business or person been good?
Credit acceptance corporation Credit acceptance Car almost paid off repoed after a month and a half behind on payments would not take partial payments wanted all or none Nationwide
I have paid 15,000 on my 2007 jeep with less than 5,000 to go , yes I have struggled to make my payments on time due to lack of income, but I was 1 and a half months past due to walk outside finding my vehicle being towed,when I spoke with credit acceptance last week they would not even take a partial payment they said a full payment or my vehicle would be diabled,not repied,I told them I could make a full payment the following Friday and they could even debit it from my account but they would not extend any agreement,so instead they repoed it,well I've now by researching figured out why,if your almost paid off they want it back to make more off of when selling it,screw them I am getting an tourney and fighting this,beware don't let this happen to yoy,now I can't get to work,just was fired today wow my day has sacked don't let this happen to you
1 Updates & Rebuttals
Robert
Irvine,California,
USA
Of course...
#2Consumer Comment
Mon, June 12, 2017
It is amazing the time you had to research all of this to come up with some theory to justify the standard "deadbeat" entitlement mentality.
Are they the reason for your "lack of income"? Did they go to your boss and tell them to cut your hours?
If they truly just wanted the car why would they wait 6 weeks? Technically they could reposes it as soon as you became delinquent. Let me guess you figure they waited to put you into a false sense of security...right?
Here is a few FACTS for you.
First you made a legal agreement that stated you would make ALL of your payments on-time and for the full amount. There was nothing in the agreement you signed that stated you only had to make the payments when you could, or that once you got down to a certain balance you could start to change this agreement.
The other thing you agreed to is that you gave them the right to repossess your car if you ever became delinquent. Again there was nothing that stated that once you got to a certain balance this right was taken away. Even if you owed $1 they can reposes your car, and based on the numbers you probably had a year or more left on your loan(probably closer to two).
Don't believe me? Then go read the loan agreement you signed. Or should we guess that the dealer just never gave you a copy of it...right?
But here is where your entire theory and research falls flatter than a pancake stepped on by an elephant. When they reposes the car and you do not redeem the repo they are required to sell it at auction. The "auction price" is a good 25-30% below the blue book value and most likely significantly less than the balance owed on your loan. Meaning that even after they sell it, if there is a balance on the loan YOU still legally owe it and they can still take collection efforts against you.
Now, on the off chance they sell it for more than the balance owed. Guess what..they don't get to keep the money. The difference over must be returned to you. So there goes your entire "Oh they just want more money" argument.
But if it makes you feel better go right ahead believing what you want.
