Credit Acceptance Demanding Canceled Checks from Employer

[Anonymous]

My husband and I have very poor credit due mostly to job losses in this Depression/Recession. We are currently both working at a Daycare center in a small town. My car is owned outright, and my husband had a car that he totaled about a month ago. That car was financed and then paid off with the insurance claim. Now we need a second car, because of schedule conflicts, and we are trying to secure financing through credit acceptance. They have already received two check stubs from both my husband and I, received proof of residence, and proof of full coverage insurance on the car being financed. They refused to finance gap coverage, which should of been my first clue. Now, after having the car in my posession for a week, they are demanding that my employer give them canceled checks for the past 8 weeks to prove my income and also for my husband. They say it's because they do not go through a payroll service. Is this a legal request? I'm thinking fraud. Can I return the car and get my $2000 down payment returned to me? Or am I SOL?

[Anonymous]

---

@Anonymous wrote:

My husband and I have very poor credit due mostly to job losses in this Depression/Recession. We are currently both working at a Daycare center in a small town. My car is owned outright, and my husband had a car that he totaled about a month ago. That car was financed and then paid off with the insurance claim. Now we need a second car, because of schedule conflicts, and we are trying to secure financing through credit acceptance. They have already received two check stubs from both my husband and I, received proof of residence, and proof of full coverage insurance on the car being financed. They refused to finance gap coverage, which should of been my first clue. Now, after having the car in my posession for a week, they are demanding that my employer give them canceled checks for the past 8 weeks to prove my income and also for my husband. They say it's because they do not go through a payroll service. Is this a legal request? I'm thinking fraud. Can I return the car and get my $2000 down payment returned to me? Or am I SOL?

---

Is it legal? Probably, they are trying to prove your income and the reliability of your pay.

Can you return the car? Well if financing does not go through yeah you probably can, the deal is not being accepted.

but: CAC is a lender of last resort. The only option after them is a buy here pay here. If you decided that CAC is not a direction you want to go, well, you really may not end up with that second car for a very long time. 

[Anonymous]

If I return the car and get my down payment back, I'll just find a private seller and buy a cheap car, that will last me a while. That's how I got my car in August.

[Creditaddict]

Once they give me a car, they better figure out the financing on their own... I will give pay stubs and that's it... If they want more and can't get it financed, they can cancel the sale and give me my money back... you shouldn't have let me leave the dealership with the car if you had issues.

Unless you just really want this car then I guess you have to jump through hoops laid out, I'm just saying me personally wouldn't do it.

BUT make sure you get your deposit back!!

[preciousmissy]

I went through Credit Acceptance since my scores are low and I had to give them a few pay stubs, but that was done before the paperwork was signed.

Be forewarned, if you are one day late they call you and are as rude as a collection agency...over 1 day! Luckily I have never been 30 days, I couldn't imagine what they would do.