Credit Acceptance CEO Ken Booth.

Regulators say true cost of Credit Acceptance Corporation loans ‘hidden’

The Southfield-based regulator, which provides car loans to those with bad credit and may not qualify for a car loan, is accused of making predatory deals that put financially vulnerable buyers on the brink of failure. Auto loans for used cars carry “exorbitant interest rates, are loaded with expensive add-ons, and borrowers are so indebted” …

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