Grades are also broken down by the financial products offered be each institution. Credit Acceptance Corporation is rated "C" in Debt Collection, and "B" in Consumer Loans. Click on any of the financial products to see how Credit Acceptance Corporation compares.
Credit Acceptance Corporation has received 176 consumer complaints since April, 2012 – more than 94% of other banks.
Of those complaints, 100% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Credit Acceptance Corporation meets the 60-day response deadline more frequently than 93.4% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 18.8% of customers dispute Credit Acceptance Corporation's response to complaints — worse than 50.7% of other companies.
Most of Credit Acceptance Corporation's customers complain about consumer loans with the primary issue being "problems when you are unable to pay."
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Consumer loan||Vehicle loan||Problems when you are unable to pay||69|
|2||Consumer loan||Vehicle loan||Managing the loan or lease||63|
|3||Consumer loan||Vehicle loan||Taking out the loan or lease||30|
|4||Debt collection||Auto||Communication tactics||8|
|5||Consumer loan||Vehicle loan||Shopping for a loan or lease||8|
|6||Debt collection||Auto||False statements or representation||4|
|7||Debt collection||Other (phone, health club, etc.)||Cont'd attempts collect debt not owed||4|
|8||Debt collection||Auto||Taking/threatening an illegal action||3|
|9||Debt collection||Auto||Cont'd attempts collect debt not owed||3|
|10||Debt collection||Auto||Cont'd attempts collect debt not owed||3|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||204||204 (100%)||37 (18.1%)|
|2||Closed with non-monetary relief||13||13 (100%)||1 (7.7%)|
|3||Closed with monetary relief||6||6 (100%)||2 (33.3%)|