Where to send your Credit Acceptance payment
Credit Acceptance processes payments through several channels, and the method you choose affects how quickly the company records it. The most direct route is their online payment portal at creditacceptance.com, where you can log into your account and pay when ready using a bank account or debit card. Payments made online typically post within one business day.
If you prefer to mail a check, send it to the address printed on your monthly statement or invoice. Credit Acceptance's mailing address also appears on their website under the "Contact Us" section. Mail payments take longer to process — typically five to seven business days from the date they receive it — so plan ahead if your due date is approaching.
You can also call Credit Acceptance's customer service line to make a payment over the phone using a debit card or bank account. The phone number appears on your statement and on their website. Phone payments are recorded the same business day you call, though the funds may take an additional day to clear from your account.
Key Takeaways
- Online payments through creditacceptance.com post within one business day and are the fastest method available.
- Mailed checks take five to seven business days to process, so send them well before your due date to avoid late fees.
- Phone payments are recorded the same day you call but may take an additional business day to clear from your bank account.
- Your monthly statement lists the payment address and customer service phone number specific to your account.
- Late fees begin accruing on the day after your due date, regardless of which payment method you use.
Setting up automatic payments
Credit Acceptance allows you to set up recurring automatic payments from your bank account through their online portal. This option removes the risk of forgetting a due date and ensures your payment reaches them on schedule. You can choose the payment amount and the date each month when the payment should process.
To set up autopay, log into your Credit Acceptance account online, navigate to the payment settings, and enter your bank account information. You will need your routing number and account number from a blank check or your bank's website. Once autopay is active, you can modify or cancel it at any time through the same portal.
Automatic payments do not protect you from overdraft fees if your bank account has insufficient funds on the payment date. Verify that your account will have enough money available before the scheduled payment day, or set the payment date a few days after you typically receive income.
What happens if you miss a payment
Credit Acceptance charges a late fee once your payment is more than 10 days overdue. The fee amount depends on your loan agreement and state law, but typically ranges from $15 to $25 for the first late payment. Subsequent late payments in the same year may carry higher fees.
A missed payment also appears on your credit report within 30 days of the due date. This negative mark can lower your credit score and remain on your report for seven years. If your payment is 60 days late, Credit Acceptance may begin collection efforts or repossession proceedings, depending on your loan terms and state law.
If you cannot make a payment on time, contact Credit Acceptance before the due date to discuss your options. Some borrowers are able to negotiate a temporary payment plan or deferment, though this is not may provide. The sooner you reach out, the more options may be available to you.
Understanding your payment allocation
When you make a payment to Credit Acceptance, the company applies it first to any late fees or collection costs, then to interest, and finally to the principal balance of your loan. This means that if you are behind on payments, a large portion of your payment may go toward fees and interest rather than reducing what you owe on the vehicle itself.
Your monthly statement shows how your most recent payment was divided among fees, interest, and principal. If you want to pay down the principal faster, you can make extra payments beyond your monthly obligation. Credit Acceptance does not charge prepayment penalties, so paying more than the minimum will reduce your total interest cost over the life of the loan.
If you have questions about how a specific payment was applied to your account, your statement includes a customer service number. A representative can walk you through the breakdown and explain how much of your next payment will go toward principal versus interest.
Payment methods and fees
Credit Acceptance does not charge a fee for online payments made through their website or for payments made by phone using a debit card or bank account. However, if you use a third-party payment processor or pay through a bill-pay service offered by your bank, that service may charge its own fee. Check with your bank before using their bill-pay feature to see whether they charge for auto loan payments.
Credit card payments to Credit Acceptance typically incur a processing fee of 2 to 3 percent, charged by the credit card processor rather than by Credit Acceptance itself. Because of this fee, paying a car loan with a credit card usually costs more than paying with a bank account or debit card. Use a credit card only if you have a specific reason, such as earning rewards points that exceed the processing cost.
Some third-party payment apps allow you to pay Credit Acceptance through their platform. These services may charge convenience fees or require you to link your bank account. Read the terms before using a third-party app to understand what fees explore and how long the payment takes to reach Credit Acceptance.
Timing your payment to avoid issues
Your due date is listed on your monthly statement and in your online account. Credit Acceptance considers a payment on time if it is received by 5 p.m. Eastern Time on the due date. If your due date falls on a weekend or holiday, the company typically extends the important date to the next business day, but do not rely on this — send your payment early to be safe.
If you pay online, submit your payment at least one business day before your due date to may support it posts in time. If you mail a check, send it at least one week early to account for mail delivery time. Phone and online payments made on the due date itself may post after the important date, resulting in a late fee.
If you have a variable income or receive paychecks on different dates each month, consider setting your autopay date for a few days after you typically receive money. This reduces the risk of overdraft fees and ensures your account has funds available when the payment processes.
Frequently Asked Questions
Can I make a partial payment to Credit Acceptance?
Yes, you can make a partial payment at any time. However, your account will still be considered late if the full monthly payment is not received by the due date. Partial payments reduce your principal balance but do not prevent late fees or credit report damage if the full amount is not paid by the important date.
How do I know if my payment was received?
Log into your Credit Acceptance account online to see your payment history and current balance. Online and phone payments appear in your account within one business day. Mailed checks may take five to seven business days to show up. If a payment does not appear within the expected timeframe, contact customer service with your confirmation number or check number.
What if I want to pay off my loan early?
Credit Acceptance does not charge prepayment penalties, so you can pay off your loan at any time without extra fees. Contact customer service to request a payoff quote, which shows the exact amount needed to close your account as of a specific date. This quote accounts for interest accrued through that date and any remaining fees.
Can I change my due date?
Credit Acceptance may allow you to change your due date through your online account or by calling customer service. The new due date typically takes effect on your next billing cycle. If you need to change your due date because of financial hardship, explain your situation to a representative — they may have additional options available.
What should I do if I see an error on my statement?
Contact Credit Acceptance customer service when ready with details of the error and your account number. Provide documentation if you have it, such as a confirmation number from an online payment or a canceled check. The company has 30 days to investigate and respond to your dispute.