- Report: #1315759
Complaint Review: Credit Acceptance - Nationwide
Reported By:
YouScammedTheWrongOne -
Hagerstown, Maryland, USA
Submitted:
Updated:
-
Author Not Confirmed
Why?
Credit Acceptance
Nationwide, USA
Phone:
800-634-1506
Web:
credit acceptance.com
Categories:
Business Rating:
(0)
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Credit Acceptance Loan Fraud Stuck Me With A Worthless Vehicle Nationwide
I purchased a vehicle and was financed through credit acceptance. I am now looking to get out of the current vehicle, which is worthless and credit acceptance knew this, and because they frauded me by charging me thousands of dollars in interest and refusing to alter it even under threat of legal action, they have effectively stuck me with a vehicle that I can't ever get rid of. Do not go to any dealership that works with credit acceptance. You will be scammed and stuck with a worthless vehicle because that is all they are willing to finance is worthless vehicles that they pull a profit on. They need to be shut down and all of their employees arrested for fraud.
2 Updates & Rebuttals
coast
Florida,USA
What is the fraud?
#2Consumer Comment
Sat, July 09, 2016
It isn’t the lender’s fault the vehicle is worthless. Your dissatisfaction with the interest rate is a case of buyer’s remorse. The lender is under no obligation to alter the terms of the loan agreement. What is the fraud?
Robert
Irvine,California,
USA
Wrong on so many levels.
#3Consumer Comment
Sat, July 09, 2016
Your idea of credit and financing is so wrong that I doubt you will be able to grasp this in just this overview, but let's try.
First off, this company is a lender they do NOT sell cars. If you overpaid for the car you bought, that is between you and the dealer.
Second, they are a "Sub-Prime" lender. Meaning that they were probably the only ones who were even remotely willing to give you a chance and finance your High Risk credit rating. Now becase you are high risk, you are given less favorable terms such as a higher interest rate. But, EVERY ONE of the terms were disclosed to you before you signed the contract. Where you had every opportunity to disagree with the terms and walk away. Or are you going to claim you signed a blank loan agreement and it was only after you signed that you found out?
As for being stuck with a car you "can't ever" get rid of. These terms you signed also included the length of the loan. Where if you make every payment on-time and for the full amount at the end of this time the loan would be paid off. The only way this turns into forever, is if you FAIL to follow the terms of the legal agreement YOU signed.
Oh and the "threat" of legal action. Sorry but this proves that you are clueless about credit and financing. But I do thank you for the 10 minute laugh I got out of it. If you really thought you had a case, why only a "threat"? Why didn't you actually take action against them? I'll tell you why because even though you are clueless you either had enough sense to realize you are wrong, or you went to a lawyer(or lawyers) who told you that you were clueless and didn't have a chance in H.E. Double Hockey sticks of winning.
