I purchased a 1999 Lexus ES 300 on Dec 17 from a dealer in St. Petersburg Fl (Street Style Car store). I paid top dollar over 15k for the car. Credit acceptance is the lender with financing total dollar amount is over 25k. I have made timely payments of 549.65 for 2 years. The car has had 6 alternators replaced. We decided to trade the car in. This is where my nightmare starts... The new dealer ran a carfax on the car and discoverd the car was totaled in Texas in 2000 and a junk title was issued. The car was then moved to IL, WI, IN and sold @ aution. Somewhere along the way the car was rebuilt. The dealer who sold me the car was aware of this but did not tell me. I bought the car and took it home. 2 days later the Dealer called me and asked me to bring the car back (he gave me a loner) because he was having a problem with title transfer because it was from out of state. Several days later I got the car back and thought all was well. What he did was take it to the state inspector to get it inspected so he could obtain title. They gave him a rebuilt title and placed a sticker in the drivers door. I was not aware of this either. So, as you can imagine I was very upset when I found out I had been decieved. I called Credit Acceptance to report that we had been scammed. They were pretty rude with me. I was shocked @ their attitude as I thought they also had loaned money on a worthless title and would be upset @ this deception. So, once again I did some research... Found out Credit Acceptance is affiliated with the dealer who sell the cars they loan on. They knew the car was only worth 50% of the market value. I have called them at least 8 times with always the response - a supervisor will call you back. Now I am extremely upset and do some more research... I found the cars history (Junk title) had to be disclosed to me. The affiliation with the Dealer had to be disclosed to me. The dealer had to have a title in their name BEFORE they could sell in to me. I still owe over 13k on this car. Have good credit that I do not intend to screw up. So I am filing a claim againt their bond and would love to join a class action law suit. This kind of behavior should not be tolorated by the consumers or the states where they conduct business. They are predatory lenders and thrive off people who have lesss than perfect credit. I will do all within my power to insure they are exposed. I also have an appointment with a lawyer next week to file a personal dammage suit against them. I will keep you posted.
0 comments