Is Credit Acceptance Corporation Auto Loan the right fit for you?
Auto Loans
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Last Updated: 04/18/2025
Credit Acceptance Corporation Auto Loan
Unaffiliated
Last Updated: 04/18/2025
SuperMoney User Recommendation Score -67
Strongly not recommended18 total votes
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Highlights
Community Rating
Strongly not recommended
Amount Range
$5,000 - $50,000
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APR
Starting at 8%(Verified 06/21/2024)
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Credit Score Range
300 - 700
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Loan Term (Months)
Up to 60
Number of Reviews
Credit Acceptance Corporation Auto Loan Review
Credit Acceptance Corporation Auto Loan is offered by Credit Acceptance Corporation, a financial services company founded in 1972 and based in Southfield, MI. Credit acceptance are available in 50 states and Washington, DC.
Credit acceptance FAQ
How much can you borrow via Credit acceptance?
Credit acceptance loan amounts start at $5,000 and go up to $50,000.
What APR does Credit acceptance offer on its car loans?
Credit acceptance offers an car loan product that ranges from 8% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.
What is the maximum auto loan term you can get with Credit acceptance?
Credit acceptance has car loans with a maximum term of 60 months. Having the option of longer terms allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your car loan, the more interest you will pay.
Does Credit acceptance charge an origination fee?
Yes, Credit acceptance may charge a loan origination fee .
Does Credit acceptance charge a late fee?
Yes, Credit acceptance charges borrowers with a late payment penalty fee
Does Credit acceptance charge prepayment fees?
Yes, Credit acceptance does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.
Can I pay off early my Credit acceptance loan?
Yes, you can. However, Credit acceptance charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.
What do you need to qualify for Credit Acceptance Corporation Auto Loan?
The minimum age to be eligible is 18 or the state minimum, whichever is higher. Credit Acceptance Corporation Auto Loan does not have or does not disclose a minimum annual income eligibility requirement. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.
To qualify, applicants may need to provide the following documentation:
- Recent pay stubs
- Driver's license or other government photo ID
- Proof of citizenship or residence permit
What is the estimated funding time for a car loan via Credit acceptance?
Credit acceptance will typically fund the car loan within 7 business days of booking.Does Credit Acceptance Corporation perform a hard credit pull?
Yes, Credit acceptance performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
Is Credit Acceptance Corporation a legit company?
Credit Acceptance Corporation was founded in 1972, it is a well-established company that has been in business for 54 years. Credit Acceptance Corporation Auto Loan is strongly not recommended by SuperMoney community users.
Provider Disclosure: "Actual finance terms may be different and will depend on many factors, including your credit worthiness."
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
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Contact
Headquarters
Other Services by Credit Acceptance Corporation
Availability
Available in 50 states and Washington, D.C.
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
SuperMoney Net Recommendation Score
SuperMoney users don't recommend this product, giving it a user recommendation score of -67, or 1.7 on a 5-point rating scale.
-67
-1000+100
No one recommends
Everyone recommends
Reviewer Sentiment Over Time
Credit Acceptance Corporation Auto Loan Community Reviews
Would you recommend Credit Acceptance Corporation Auto Loan to your friends?
BB
Bethaney B.
Aug 22, 2023
Would not Recommend
I was charged by the car lot over 2000 for a warranty that another customer wasn't charged for because they paid full amount which tells me it was to help inflate interest which is more than double the amount I have ever paid for a car loan not to mention I just learned that if I pay it off early, I will be penalized.
MC
Mary C.
Aug 11, 2023
Would not Recommend
I will never suggest Credit Acceptance they charge 3.95 when you make a payment online for all the times I’ve been paying online for 2 years I still have to more to go I’ve paid over 300.00 in fees for paying online. And it’s 9.95 to make a payment over the phone. If you pay by mail it’s 5.95 fee.
Doesn’t matter either if you pay on time. You will ...Show More
Mekil U.
Jun 30, 2023
Would not Recommend
It is possibly the worst auto loan company ever they don't let you refinance or trade your car in for a new car with a existing balance on your lease. They did not show me their policy when I bought the car from Galaxy Autos. Would not recommend. Be careful when buying a car and deciding who to finance with and read their policy carefully.
U
Anonymous
Mar 4, 2023
Would Recommend
This is my 2nd loan through CAC..I paid off the first then replaced my vehicle at the same dealer. I make my payments on time and was aware of the interest added to the loan.
For anyone who needs a vehicle but can not got to a regular dealer CAC is an acceptable choice.
My only complaint is I was charged a higher interest rate because I refused the 3 yr ...Show More
Brandon A.
Feb 20, 2023
Would not Recommend
Purchased a car from the Dealership for $12,484 which is the blue book value. The Dealership went thru Credit Acceptance to get me Approved. My Credit score is (Good) and in that range. I was approved but orally agreed to the signature over the phone since I was at work. I paid my first car note and looked at the remaining balance and it was $26,543! So the price of ...Show More
SH
Shelley H.
Feb 16, 2023
Would not Recommend
I went to new deals pre-owned dealership on the 8 of February and my salesman pressure me into this car I told him several times I wanted to wait until weekend and bring some one with me and told him I wasn't feeling good I already taken medicine for my fever and cough. He just kept pressure on Thursday the 9 I contacted CAC and was told that ...Show More
U
Anonymous
Feb 7, 2023
Would not Recommend
They are the worst finance company in the whole world .* I'm glad New York has enough crawl to try and end their shit .legally robbing ppl period
Jason V.
Jan 25, 2023
Would Recommend
Credit Acceptance worked well with me when I was switching jobs.
They deferred 2 payments to end of my loan.
But when I got money flowing I paid a bit extra per month & paid loan off 1 month before term end.
I actually over paid some & I received a check for the different within 2 weeks & approximately 1 month after pay off I received the title for my truck.
Seriously thinking ...Show More
SD
Sarah D.
Jun 7, 2022
Would not Recommend
I opened an account with this company in July 2021.
The first thing is they couldn’t change my due date, so I always pay 2 weeks late and assessed a late fee.
They have no way to view your payment history.
I've been sick with COVID over a month and thought that I made my last payment. I woke up Sunday morning to an email alert that my credit score dropped 79 points ...Show More
JR
Justin R.
Feb 9, 2022
Would not Recommend
They won't Refinance my car or won't let me pay it off.
JJ
Juan J.
Dec 24, 2021
Would Recommend
I know this company has some excessive restrictions, but they really will do everything in their power to help you get the auto loan. They work with you for a deferment, but only if you have already been a customer for more than a few of your very 1st payments. We had zero, yes zero, credit & they helped us with minimum questions & literally zero issues getting the approval. ...Show More
SD
Stacey D.
Sep 29, 2021
Would not Recommend
Getting involved with Credit Acceptance is the equivalent of being involved with the mob. RUN!
CG
Charlete G.
Jun 13, 2021
Would not Recommend
I walked off of the lot owing a little over 10,000 after my down payment it has been three years and my early payoff is going to be about 7500 they said, I added up my payments for the last three years and it’s a little over $10,000. So I’m paying almost double what my car cost. Not only are my payments on time, but they are three weeks early ...Show More
CM
Charlie M.
Feb 23, 2021
Would not Recommend
Credit acceptance is the Absolute Worst thieves. Will not refinance. Will not budge even during covid. Even when I paid on time every time for years. So because they wouldn’t help at all I bough a car from a different loaner. Come get your car. You crappy thieves!!!
Stand Up F.
Apr 30, 2020
Would not Recommend
Just got off the phone with customer service, and because of the pandemic I'm bringing home less than $100 a week. Still waiting on hearing about unemployment and can't pay bills, yet they're still requiring payments. Even Geico and other companies have deferred payments for me. These people really don't care and are only concerned about their money. Now my Jeep won't start and I have no way to get ...Show More
Elaine V.
Feb 22, 2020
Would not Recommend
There fucked up my loan put a name different then mine jack the price up 10000
Kristopher H.
Jul 8, 2019
Would not Recommend
Hidden fees.
They double the price of what you are buying!!!!!
If you earn enough money to pay the loan off early they charge you even more for that!
Michaela G.
May 26, 2019
Would not Recommend
I originally bought a 2007 Pontiac G6 in Aug of 2017 for $7,853 we had to put $700 down. Which brought it down to about $7,200 Its now May of 2019 and we still owe $7,500. How? Because they charged me an APR of 28% they pray on people with bad credit and in desperate need of a vehicle. Especially single mothers.
Showing 18 of 18 reviews