Credit Acceptance for DealersReviews of creditacceptance.com

Your rates are too high but I thank you all for picking me up and giving me a loan that I paid off

Credit Acceptance has got it down to a science - and should have a 5 star review. What I sometimes have a problem with - however - is the review process by human funding teams. There isn't a lot of transparency as a dealership to know *exactly* what each individual reviewer in funding is looking for. Example: The other day I had a stipulation for "Proof of Checking". (Very simple, its the same on every submission and not my first rodeo on proof of checking). My customer had a Chime Checking account but didnt use it often. I said, "No problem, just gotta prove you have it - print the last months bank statement". I sent in her "PROOF OF CHECKING" - her last months statement from Chime Checking, and the particular funding team member did not clear the stipulation. The refusal to clear was returned with "Needs to show usage.".... that's where things become a pain. Its dependent on which particular human I have reviewing stips and if they are on a power trip that day, feeling generous, etc. But as a dealer what am I supposed to think? I've spent hours trying to put this deal together and go through you guys and you wont even be clear with what stipulations I need. Do I need "Proof of checking" as requested, or "Proof of usage?.... a certain amount of transactions on a proven checking account?". If you have rules for it just say so, so I can avoid wasted time. OR if your rule is simply to have a checking account, then why is your funding member making my job more difficult than it should be? That was one example - but I've had surprises other times just based on the dice roll of which person looks at my approval any given day.

Starting off I've been a used car dealer since 1988. We have CAC as our primary lending bank for the last 12 years. I've closed 5 or 6 finance pools since inception. I absolutely loved the program they offer and would get back end portfolio profit checks monthly ranging from $1700 to 3k monthly. Unfortunately that back end completely dried up!!! 😢 I wasn't kept in the loop that there were charge backs to my portfolios with warranty claims that apparently come out and cut into my portfolio profit checks that I really loved. In less than a month all my portfolio purchase offers disappeared!!!! And they took warranty away from me. Now I can't offer my customers warranty and also effects every deal is shorter profit by $400 initial profits. Loved this lender when it works. But no help from a few recent market managers letting me know what was going on. So I'm Shocked and Surprised that this all happened without Credit Acceptance giving me any warning ⚠️ or guidance at the time this all took place about a year ago. However I'm hopeful that something will be done to help me as a dealer who wants to do good business with them , get back on track!!! I'm a good rated dealer for year's and still don't understand what happened and how to fix the issues. Not happy now!

Want friendlier terms for my customers, and would like it to be easier to keep dealer rating based on good performances

I find it very hard to trust the portfolio payouts.

I ASKED YOU NOT TO GO TO MY SISTER COMPANY AND SET UP WITH THEM. YOU DID IT ANYWAY AND KNOW I HAVE LOST ALL TRUST IN YOUR COMPANY AND YOUR MANAGEMENT.

could barely get anybody approved

just having trouble getting people approved past pools have quit paying out