Skip to Content

Pre-qualify Auto Loan Through Credit Acceptance

California Residents: Please clickherefor the Notice of Collection regarding the personal information Credit Acceptance may collect from you.

TERMS AND CONDITIONS

Show All +

Hide All -

How It Works

1. Overview:

Pre-qualifying with Credit Acceptance is a great way to find cars and auto financing terms that fit your needs and your budget, with no impact to your credit score.

All you need to do is provide information about you - like name, address, income, and bank accounts - to enable us to check your credit history through a soft credit pull.

The information you provide must be accurate. You may not impersonate or pretend to be somebody else when providing us with this information.

This is not an offer of credit and there will be no impact to your credit score for pre-qualification.

You understand that you will need access to the Internet, as well as the appropriate hardware, software and/or programs, which may include, but may not be limited to, Adobe Acrobat, in order to access your pre-qualification and your consent electronically, and print copies. You also understand that you may update your information, obtain a description of systems requirements, revoke your consent for future electronic deliveries, or request one or more paper documents at no cost at any time by contacting us in writing as set forth herein. Notices by you to us must be in writing and sent by US Mail or overnight delivery to Credit Acceptance Corporation, Operations Support, P.O. Box 5070, Southfield, Michigan 48086-5070, unless revised by us.

2. Pre-qualification:

Your pre-qualification is based on the information you’ve provided subject to verification and might change if you update any information at the dealer. Credit Acceptance may not provide financing for all optional products offered by a participating dealer. If you are pre-qualified for a specific vehicle amount or monthly payment amount, those amounts were determined utilizing a $3,000 down payment and are not final until your financing is completed at a participating dealer. Credit Acceptance does not guarantee credit or that the dealer will provide you with all terms outlined in your pre-qualification offer. Terms online are provided based on common monthly increments, but other terms may be available at the dealership when purchasing the vehicle. Not everyone qualifies for each of these term lengths though.

3. Working with a Participating Dealer:

Credit Acceptance may share the information you provided with Participating Dealers. If your information is shared, these dealers will be alerted that the information you’ve provided is available to them in Credit Acceptance’s Credit Approval Processing System (“CAPS”), which is used by dealers to process applications for credit made to Credit Acceptance. Your Credit Acceptance pre-qualification can only be used at participating dealers. While we will attempt to locate dealers that are geographically close to you, there is no guarantee the dealers will be conveniently located. Participating dealers may have your pre-qualification in CAPS, or you can print your Credit Acceptance pre-qualification offer and take it to the dealer with you. The dealer is under no obligation to sell you a vehicle based on your pre-qualification, and you are not obligated to purchase any vehicle until you have signed a contract that discloses all the purchase and financing terms.

If you decide to purchase a vehicle, the dealer will submit a completed application for approval to Credit Acceptance. A completed application will require you to provide the dealer with your complete Social Security Number and any additional information needed to verify and confirm previously provided information and will result in a hard credit pull that may have an impact on your credit score. You will then need to sign the contract and finance documents with the dealer.

Important Information and Restrictions

1. Impact to Credit Score:

By participating in the pre-qualification process, you are providing “written instructions” to Credit Acceptance under the Fair Credit Reporting Act authorizing Credit Acceptance to obtain information from your credit profile or other information from one or more consumer reporting agencies. You are authorizing Credit Acceptance to obtain such information solely to conduct a pre-qualification of credit. You understand that there will not be any impact to your credit score during the pre-qualification process.

If you elect to have your information submitted to a dealer by Credit Acceptance, or a completed application is submitted to/by the dealer, a hard credit pull will be completed that may have an impact on your credit score. This impact to your credit score will only occur with your express consent after obtaining your pre-qualification or if a completed application to purchase a specific vehicle is submitted for approval.

2. Pre-qualification Offers:

A pre-qualification does not guarantee you’ll receive financing or any particular financing terms, which are subject to change based on a car dealership’s review of a credit application you submit to them along with any required documents and may vary depending on the dealership selling the vehicle(s) you are interested in financing. Your Credit Acceptance pre-qualification expires 30 days from the date your request for pre-qualification is received. If a dealership has provided financing to you through Credit Acceptance, you may no longer be eligible for new financing with your Credit Acceptance pre-qualification. Any other financing offers are subject to the terms of the offering party.

3. Customer Restrictions:

Pre-qualification may not be available in all areas. To pre-qualify, you must be at least 18 years old, have a valid street address within the contiguous United States or an APO/FPO address in an eligible geographic location, which is determined at Credit Acceptance’s sole discretion and is subject to change without notice. Post Office Box addresses are not eligible to be used as the address on your pre-qualification request. Monthly payment-to-income ratio cannot exceed 25%, and a minimum monthly payment of $150 will be required to obtain financing.

4. Vehicle Restrictions:

Your pre-qualification can only be used at participating dealer locations in connection with the purchase of a new or used car, light truck, minivan, or SUV intended for personal use. We do not offer financing for commercial vehicles (subject to certain exceptions for ride sharing and food delivery services), motorcycles, recreational vehicles (RVs), ATVs, boats, camper vans, motor homes, vehicles with a history of chronic malfunctions and/or manufacturer or dealer buy back (alternatively referred to as a lemon), branded title vehicles, or vehicles without a Vehicle Identification Number (VIN) or title issued. We may determine a vehicle to be commercial or otherwise ineligible based on the model and/or information provided to us.

5. Participating Dealer Requirements:

Credit Acceptance provides financing for new and used vehicles purchased from participating dealers. Participating dealers are subject to change. We do not offer financing for vehicles purchased from non-participating dealers, auto brokers, or private party sellers.

Show All +

Hide All -

Website User Agreement and Privacy Statement opens in new window
NASDAQ: CACC opens in new window
Web Accessibility Policy opens in new window
NMLS ID: 3023
Privacy for California Residents opens in new window
Financial Privacy Policy opens in new window

Loans made or arranged pursuant to a California Finance Lenders Law license

opens in new window