Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Credit Acceptance auto loans review

Last updated:  

Bad credit is OK — but you won't know your rate until you visit a partner dealership.

  • Best for borrowers with less-than-perfect credit looking for financing through a dealership.
  • Pick something else if you have good credit — you'll likely find lower rates elsewhere.

Set by dealership



Product NameCredit Acceptance auto loans
Loan termSet by dealership
Minimum credit scoreBad credit OK

Expert review

Kellye Guinan

Review by

Kellye Guinan is a writer and editor with Finder and has years of experience in academic writing and research. Between her passion for books and her love of language, she works on creating stories and volunteering her time on worthy causes. She lives in the woods and likes to find new bug friends in between reading just a little too much nonfiction.

Expert review

Credit Acceptance is best for borrowers with bad or no credit who’ve faced rejection in the past. Not only does it consider a variety of credit backgrounds, but it reports to all three major credit bureaus — which means making on-time payments can help improve your score.

However, there’s no information on its website about the potential rates you’ll receive. This means you’ll need to go to the dealership and work with its financing team to get an idea of how much it will cost you. And with a recent lawsuit filed against it by Massachusetts — and potentially other states — for overcharging borrowers, it may be best to compare other car loan options before you apply.

Massachusetts attorney general files lawsuit against Credit Acceptance

Credit Acceptance is currently facing a lawsuit for allegedly defrauding borrowers. Massachusetts Attorney General Maura Healey is seeking $120 million in damages for extending loans to borrowers who would be unable to repay. This left up to 24,000 people with an average debt of $9,000 — after their vehicles had been repossessed. In addition, Credit Acceptance has been accused of violating Massachusetts usury law by failing to disclose finance charges that ultimately brought its APR above 21%.

Credit Acceptance may also be facing additional lawsuits for unfair debt collection practices, but nothing has been filed as of September 2, 2020.

First, am I eligible?

Credit Acceptance doesn’t list any specific eligibility requirements. But it does state that its partner dealerships accept borrowers with bad credit or limited credit history, as well as borrowers who are on a limited income or have open Chapter 7 or Chapter 13 bankruptcy.

What types of car loans does Credit Acceptance offer?

Credit Acceptance funds both new and used car loans. However, loans are set up by the dealership you’re connected with. This means your loan amount, interest rate and loan term are all determined by the dealership — not Credit Acceptance.


  • Partner dealerships in all 50 states
  • Temporary income, bankruptcy and bad credit OK
  • Finances both new and used vehicles
  • Reports to all three major credit bureaus


  • Recent lawsuit filed against it
  • Not transparent about rates and terms, which are set by the dealership
  • Additional fees for many repayment methods
  • Can’t change payment due date
  • Funds must be used at the specific dealership you’re connected with

Compare more car loan options

Data indicated here is updated regularly
Name Product Filter Values Minimum credit score APR Loan term Requirements
No minimum credit score
3.9% - 27.9%
1 to 6 years
18+ years old, annual income of $4,000+, no active bankruptcies Car Loans
Varies by network lender
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
CarsDirect auto loans
Varies by network lender
Varies by network lender
Must provide proof of income, proof of residence, and proof of insurance.
Save time and effort with this lending service specializing in beginner-friendly or subprime car loan.
Auto Credit Express Car Loans
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.
Monevo Auto Loans
3.99% to 35.99%
3 months to 12 years
Credit score of 500+, legal US resident and ages 18+.
Quickly compare multiple online lenders with competitive rates depending on your credit.
LightStream Auto Loans
Good to excellent credit
2 to 7 years
Good or excellent credit, enough income or assets to afford a new loan, US citizen or permanent resident, 18+ years old
Quick car loans from $5,000 to $100,000 with competitive rates for borrowers with strong credit.
Good to excellent credit
Starting at 3.09%
Varies by lender
18+ years old, good to excellent credit, US citizen
Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.

Compare up to 4 providers

How do I apply?

To begin your application online, follow these steps:

  1. Visit the Credit Acceptance website and click Find a dealer near you or Start your credit approval.
  2. Enter your full name, contact information and ZIP code, then read and agree to the privacy disclosure.
  3. Enter your address and select whether you own your home or rent.
  4. Select your primary source of income and your gross monthly income.
  5. Select your bank account type.
  6. Enter your Social Security number and date of birth.
  7. Read the final disclosure and click Finish to submit your application.

Credit Acceptance sends your information to three local dealerships. You’ll then need to get in touch with one to set up a test drive and discuss your financing options.

What documents do I need to apply?

To complete your application, enter your Social Security number and date of birth. And when you visit a dealership, bring the following documents with you:

  • Proof of income
  • Proof of residence
  • Proof of bank account

How do repayments work?

Credit Acceptance offers a few repayment options, but it does charge fees for some common methods:

Payment methodFee
Automatic payment — onlineNo fee
Automatic payment — by phoneNo fee
Check or money order — by mailNo fee
Check or money order — in personNo fee
One-time payment — online$3.95
One-time payment — by phone$3.95 (no representative) or $9.95 (with representative)
Western Union$8.50

Keep a close eye on your due date. Credit Acceptance won’t change it, and you may be charged additional fees if you’re late. If you think you may not be able to make a full repayment, contact Credit Acceptance to discuss your options.

Not sold on Credit Acceptance? Finance your new ride with another lender and get a car loan today.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site