Credit Acceptance is a Third Party Lender that specializes in high rate high risk loans. They can be difficult to deal with so if you do have to take out a loan through them make sure you can pay for the vehicle or you may find yourself without a car while still owing on the debt. Recently one of my Chapter 13 clients missed a payment and Credit Acceptance Repossessed the vehicle and sold it for thousand less than what was owed even though the client offered to catch up on the payments and future payments were to be made by the Chapter 13 Trustee. There is a silver lining however, a Chapter 7 Bankruptcy can discharge that car debt before or after repossession and Credit Acceptance can have back the overpriced car without getting their money.
