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  Credit Acceptance Corporation Auto Loan

Credit Acceptance Corporation Auto Loan

in Auto Loans from Credit Acceptance Corporation

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Credit Acceptance Corporation Auto Loan

Unaffiliated

in Auto Loans from Credit Acceptance Corporation

SuperMoney Net Recommendation Score -100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly not recommended

0 users recommend
0 users are unsure
7 users don't recommend
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Highlights
Community Rating Strongly not recommended
Credit Score Range 300 - 700
Loan Amount $5,000 - $50,000
APR Starting at 8%
Loan Term (Months) Up to 60 months
Number of Reviews 7

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 Corporation Auto Loan is 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 penatly 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. Credit Acceptance Corporation Auto Loan only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members are eligible to apply for a loan via Credit Acceptance Corporation Auto Loan. Their rates fall within the limits of The Military Lending Act.

Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Recent pay stubs
  • Driver's license
  • Proof of citizenship or residence permit

What is the estimated funding time for a car loan via Credit acceptance?

Credit acceptance will typically approve (or deny) a car loan application within 48 hours and fund the car loan within 7 business days of approval.

Credit Acceptance Corporation Auto Loan 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.

Message From Credit Acceptance Corporation Auto Loan

Many car buyers with bad credit or no credit have difficulty getting approved for auto financing.  Credit Acceptance offers indirect subprime auto finance programs that give dealers the ability to say 'Yes' to every customer regardless of credit history. The Purchase Program provides a higher upfront advance than the Portfolio Program. Dealers may opt to use this program when a higher advance is desired at time of funding, or in environments with more traditional pay plans. Fill out our form to connect with a Market Area Manager in your area and learn about program availability.

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About Credit Acceptance Corporation Auto Loan

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • 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

Feature Breakdown

Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Permanent Resident
Joint Loan Applications Accepted
  • Cosigner
Military Status
  • Active Duty Military
  • Non-Military
Minimum Age 18
Verification Documents Required
  • Recent Pay Stubs
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Credit Score Range 300 - 700
Loan Amount $5,000 - $50,000
APR Starting at 8%
Loan Term Up to 60 months

Credit Acceptance Corporation Auto Loan Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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