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Credit Acceptance Review

Credit Acceptance
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Jacob Parker
Sep. 12, 2023
2 min read
Jacob Parker
Credit Acceptance Summary
Founded in 1972, Credit Acceptance is an auto financing company that partners with dealerships nationwide to help consumers with poor credit purchase vehicles. After you pre-qualify for a loan through the company’s website, Credit Acceptance will match you with up to three dealerships in its network to purchase a vehicle. The company finances auto loans indirectly, meaning you will apply for and secure your financing through a dealership.


  • Partners with dealerships in all 50 states
  • Those with no or poor credit can qualify for an auto loan
  • Quick online application process


  • Charges early payment fees
  • No email or live chat support

Credit Acceptance at a glance

Editorial score

Online experience

Good online resources, but no access to rates

Customer services and support

Multiple ways of reaching lender, wide range of hours

Loan Types

Niche lender

Repayment Flexibility

Offers multiple repayment plans- but no special repayment programs

Eligibility (credit score)

Accepts all credit types

Credit Acceptance Credit Acceptance Visit Site

Suitable For?

Credit Acceptance is a great option if you have bad credit or no credit history, as it will help you to secure financing for a car. And because it works with auto dealers in all 50 states, it’s suitable for customers nationwide.

You can also set up auto payments through the Credit Acceptance website, making it attractive for those looking for a hassle-free way to manage their vehicle loan.


Credit Acceptance offers a quick online application process that matches consumers to suitable dealerships in just a few minutes. There is also a handy auto loan calculator to help you determine your budget and price range.

The company also reports to three national credit reporting agencies, allowing you to boost your credit score and potentially qualify for more traditional auto loan financing in the future.

Some highlights include:

Loans available for customers with poor or no credit history

Partners with dealerships in all 50 states

Matches you with up to three dealerships during the pre-qualification process

A streamlined application process

Extensive educational resources

Loans available within 48 hours

Application Process

Credit Acceptance offers a secure, obligation-free online application process. The first step is to click on the “get pre-qualified” button on the company website. From there, you’ll need to enter some basic information, including your name, phone number, email address, date of birth, income, and employment information.

While you can receive a loan with Credit Acceptance regardless of your credit score, you’ll need to meet the following requirements:

Be at least 18 years of age

Have proof of residence or citizenship

Have a driver’s license

Have access to recent pay stubs

Once you fill out the application, you’ll be pre-qualified and matched with up to three dealers. Then, you’ll complete the loan process with whichever dealership you choose. However, you will still need to manage your loan via the Credit Acceptance website.

Credit Acceptance typically approves loans within 48 hours, and you can receive funding within seven business days of approval.

Loan Types and Terms

Credit Acceptance is an indirect lender that partners with nationwide dealerships, meaning APRs, loan amounts, and loan terms can vary between lenders.

However, it has some standard terms for all of its loans. These terms include:

APRs beginning at 8% (22% average APR)

Loan terms of 12-60 months

Loan amounts of $5,000-$50,000

No minimum credit score required

Repayment Options

You’ll have 12-60 months to repay your loan with Credit Acceptance. The company offers four no-fee payment methods. These include:

Online auto payments or auto payments set up over the phone using a debit card,  savings account, or checking account

Check or mail order via US Post office

Check or money order payment left in a drop box at Credit Acceptance headquarters


You can also make one-time payments via the website or over the phone. However, one-time payments may incur a fee, which will vary depending on the loan amount. 

How Safe Is It? 

Credit Acceptance offers a transparent privacy policy stating how it collects and uses its customers’ data. The types of information Credit Acceptance collects and shares depends on the services you use. It may include credit scores, account balances, payment histories, and income and employment information.

Credit Acceptance uses security measures that comply with federal law to protect your information from unauthorized access and use, which include encryption during data collection and storage.

Help & Support

You can reach Credit Acceptance representatives via phone at 1-800-634-1506 to make a payment or ask questions. Representatives are available Mon-Fri, 8:00 a.m. to 11:00 p.m. ET and Sat-Sun, 8:00 a.m. to 5:00 p.m. ET.

The website also offers an extensive FAQ page where you can type in a query to find related questions and answers. The company puts a lot of effort into financial education, offering free video tutorials, car-buying resources, and loan calculators.

Additionally, you can set up text alerts with Credit Acceptance to receive payment reminders. However, it doesn’t offer email or live chat support.

How Credit Acceptance Compares


Credit Acceptance

Auto Credit Express

My Auto Loan

Minimum credit score

No minimum credit score



Loan amounts




Loan term

12-60 months

36-72 months

24-72 months

Best for

Those with poor or no credit history

Those looking for same-day funds

Those with good credit looking for lower APRs


Credit Acceptance is an excellent solution for those with poor credit seeking an auto loan for a new or used vehicle. You can get approved for a loan in as few as 48 hours, and due to the company’s wide network of partners, you’ll receive several dealership options for purchasing your vehicle.

Credit Acceptance offers auto-pay set-up and text reminders so you never have to worry about missing a payment. Additionally, the company reports to national credit reporting agencies, so you can improve your credit score as you pay off your loan.

Physical Address

25505 W 12 Mile Rd, Southfield, MI 48034

Credit Acceptance Credit Acceptance Visit Site


This review was compiled using information from the Credit Acceptance website, as well as information from review sites, including Better Business Bureau, TrustPilot and ConsumerAffairs.

Jacob Parker
Written by
Jacob Parker
Jacob Parker is a financial and technology writer. With a background in climate science, he's deeply interested in the intersection of fintech and sustainability and has a passion for impact investing and ESG research. He writes for BestMoney and enjoys helping readers make sense of the options on the market.‎
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