This has happened to me as well. I was purchasing a 09 Ford Escape for 5,999 with a DP of 3500. They bumped the price of the vehicle to 7,999. The total interest being paid is equal to what was being financed. So now I'm stuck paying $11,000 on a $6,000 used 09. This is illegal!!!!
That's illegal that was the dealer not credit acceptance I used to sell cars I know how it works credit acceptance didn't put that price the dealer did so they can make money because you were high risk and cacc was the only bank that would take u the dealer lied to you not cacc you didn't have to sign the paperwork it was all in there how much you will pay in big numbers. Cacc has no fees based by how likely u are to pay like the salesperson probably told you they pay the dealer on how likely you are to pay let's say let's say the dealer sets the price at 11,000 but u have to go through cacc the would give the dealer maybe 6000 so for the dealer to get 11,000 he now has to put the price to 19,000 what the dealer did is illegal not cacc I bought a car through them the smart way I finance a 6000 truck and the price stayed 6000 no matter if I went through cacc or not yes I got high interest but I had no credit at the time I told my customers going through cacc buy the car u need !!!
I understand exactly what you saying. My 2014 sentra was about 10,000. I put 2,500 down and dealer put the price as 17,000 because of Credit Acceptance They are not a great company i would not recommend them to anyone.
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