Credit Acceptance Corporation Auto Loan

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 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 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.

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.

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 51 years. Credit Acceptance Corporation Auto Loan are strongly not recommended by SuperMoney community users.