Credit Acceptance for DealersReviews of creditacceptance.com

The Credit Acceptance has changed drastically, and we are financing very few deals with you now. It saddens me.

Too many people with credit scores under 500 if someone needs 6-7-8 thousand down they would buy car off the street

The 80/20 formula seems to work incredibly unfavorably for dealerships. Almost as though we are being punished for being a newer dealership. Your penalties in "paid to dealer" make it very difficult to work with most potential customers, even into the mid 600's on their credit scores, making some deals impossible for us to make the sale and make any profit. We also have had a lot of customers take their business elsewhere due to higher interest rates and higher down payment requirements than other dealerships are able to garner for them. I've had too many deals walk the past few months over this and it is incredibly frustrating. Also, I am not sure how your dealer rating system works. We have cash sales and outside lending deals that have enabled us to move several vehicles BUT this seems to have no impact on our dealer rating.

New dealers are punished. No hot leads and deal structures that are almost impossible to work, even people with decent credit. Often requires a down payment that is unreasonable for the customer in order to get enough up front money to cover the dealers cost in the the vehicle. The local rep has been helpful and great to work with but I sell 4 cash vehicles to every 1 financed deal because of this.

It’s tough to get a deal done with CAC right now. We have had 550-600 credit apps and negative $2k offers on the front end. We are not willing to lose that much on the front. I have put 100+ deals on the books and promised a return at 50 and then with receivables but CAC is making it almost impossible to keep adding business to the receivables.

Great for buy here pay heres that need cash flow. Fast funding and easy software application to submit deals. I have been a CA Dealer for 20 years. Up until two years ago I would have had 5 star reviews. Manual adjustments to dealer balances are done in secret with no disclosure to dealers. They have fired all the "car guys" that built the business and replaced them with fancy bankers that have never spent time smelling exhaust at auctions holding screaming babies in the finance office while customer signed, and seen the impact they caused the small dealer that relies on the portfolio checks.

Start paying bak end. Lower down payment

I like the program. Have used it for years. Seems like we can not hit a bull in the ass with a bass fiddle right now. Fees are through the roof which makes it impossible.