Credit Acceptance

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Credit Acceptance Corporation
Public company
Traded asNASDAQCACC[1]
Russell 1000 Component
IndustryFinancial
Founded1972[2]
FounderDonald Foss
HeadquartersSouthfield, MI
Key people
Brett A. Roberts
(CEO)
ServicesCredit Services
IncreaseUS$398.2 million (2013)[3]
Increase US$ 253.1 million (2013)[3]
Total assetsIncrease US$ 2.433 billion (2013)[3]
Website"Credit Acceptance Corporation". creditacceptance.com. Retrieved 2014-02-18.

Credit Acceptance Corporation is an auto finance company providing automobile loans and other related financial products. The company operates this financial program through a national network of dealer-partners, the automobile dealers participating in the programs. The company operates two programs: the "Portfolio Program" and the "Purchase Program". Through these programs, the company can advance money to automobile dealers in exchange for the right to service the underlying consumer loans and can buy the consumer loans from automobile dealers. By the end of 2013, the company made an annual revenue of $175,300,000.[4]

History[edit]

In 1972, Credit Acceptance Corporation was founded by Donald Foss, one of the largest used car dealers in the world at that time.[5] In 1992, Credit Acceptance Corporation completed its initial public offering and was traded under the symbol of CACC.[5]

References[edit]

  1. ^ traded symbols
  2. ^ "CACC Profile - Credit Acceptance Corporation Stock - Yahoo Finance". finance.yahoo.com. Retrieved 6 March 2018.
  3. ^ a b c "Selected Financial Data".
  4. ^ "CACC Income Statement - Credit Acceptance Corporation Stock - Yahoo Finance". finance.yahoo.com. Retrieved 6 March 2018.
  5. ^ a b "Archived copy". Archived from the original on 2014-02-15. Retrieved 2014-02-18.CS1 maint: Archived copy as title (link)

External links[edit]