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Credit Acceptance Corp  (CACC)
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Price: $548.9900 $-1.61 -0.292%
Day's High: $555.27 Week Perf: -0.23 %
Day's Low: $ 547.82 30 Day Perf: -1.35 %
Volume (M): 54 52 Wk High: $ 616.66
Volume (M$): $ 29,536 52 Wk Avg: $487.45
Open: $549.75 52 Wk Low: $379.90



 Market Capitalization (Millions $) 7,143
 Shares Outstanding (Millions) 13
 Employees 1,425
 Revenues (TTM) (Millions $) 1,902
 Net Income (TTM) (Millions $) 286
 Cash Flow (TTM) (Millions $) 53
 Capital Exp. (TTM) (Millions $) 4

Credit Acceptance Corp

Since 1972, Credit Acceptance Corporation has offered automobile dealers financing programs that enable them to sell vehicles to consumers, regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our product, but who actually end up qualifying for traditional financing.

Credit Acceptance was founded to collect retail installment contracts (referred to as “Consumer Loans”) originated by automobile dealerships owned by Donald Foss, our Chairman, founder, and significant shareholder. During the 1980s, we began to market this service to non-affiliated dealers and, at the same time, began to offer dealers a non-recourse cash payment (referred to as an “advance”) against anticipated future collections on Consumer Loans serviced for that dealer.

We refer to automobile dealers who participate in our programs and who share our commitment to changing consumers’ lives as “Dealers”. Upon enrollment in our financing programs, the Dealer enters into a Dealer servicing agreement with us that defines the legal relationship between Credit Acceptance and the Dealer. The Dealer servicing agreement assigns the responsibilities for administering, servicing, and collecting the amounts due on Consumer Loans from the Dealers to us. We are an indirect lender from a legal perspective, meaning the Consumer Loan is originated by the Dealer and assigned to us.

Consumers. We help change the lives of consumers who do not qualify for conventional automobile financing by helping them obtain quality transportation. Without our financing programs, consumers are often unable to purchase a vehicle or they purchase an unreliable one. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide our consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing.

Dealers. Our programs increase Dealers’ profits in the following ways:

Enables Dealers to sell cars to consumers who may not be able to obtain financing without our programs. In addition, consumers often become repeat customers, returning to buy cars from the same Dealer over the years.
Allows Dealers to share in the profit, not only from the sale of the vehicle, but also from its financing.
Enables Dealers to attract consumers who mistakenly assume they do not qualify for conventional financing.



   Company Address: 25505 W. Twelve Mile Road Southfield, 48034 MI
   Company Phone Number: 353-2700   Stock Exchange / Ticker: NASDAQ CACC
   


Customers Net Income grew by CACC's Customers Net Profit Margin grew to

29.48 %

6.77 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
ATLC   -2.9%    
AIG   -0.72%    
COF   -2.85%    
F        0.58% 
F1        0.58% 
GM        4.11% 
• View Complete Report
   



Financing Agreement

Credit Acceptance Corporation Secures $200 Million Asset-Backed Financing Amidst Income per Employee Decline

Published Tue, Feb 27 2024 9:02 PM UTC

Credit Acceptance Corporation Announces Successful Completion of $200 Million Asset-Backed Financing, Despite Decline in Income per Employee
Credit Acceptance Corporation (Nasdaq: CACC) recently announced the completion of a $200.0 million asset-backed non-recourse secured financing, a significant milestone for the company. Despite this achievement, the company faced som...

Financing Agreement

Credit Acceptance Announces Extension of $100.0 Million Asset-Backed Financing: A Path to Growth Tempered by Liquidity Concerns.

Published Fri, Feb 16 2024 9:02 PM UTC


Southfield, Michigan, Feb. 16, 2024 - Credit Acceptance Corporation (Nasdaq: CACC) recently announced the extension of their $100.0 million asset-backed non-recourse secured financing, known as Term ABS 2021-1. This financing, which was initially set to cease revolving on December 16, 2024, will now continue until February 17, 2026.
One of the positive highlights fo...

Credit Acceptance Corp

Credit Acceptance Corp's Financial Health Plunges, Casting Doubt on Future Growth

Credit Acceptance Corporation (CACC) has recently reported a decline in its net profit per share and revenue for the fourth quarter of 2023, painting a bleak picture of the company's financial health. With net profit per share dropping to $7.33 from $9.60 in the same period a year before, it is evident that the company's profitability has taken a hit. Additionally, while revenue saw a modest increase of 7.102%, it fell short of the 9.94% growth recorded by the rest of the Consumer Financial Services sector.
The company's focus on improving sales in the fourth quarter did little to offset the decline in earnings, with a 26.47% decrease in earnings compared to the previous year. This suggests that Credit Acceptance Corp is facing challenges in generating sustainable growth and profitability. Furthermore, the shift in focus towards sales led to a decrease in net margin to 19.04%, indicating that the company may be sacrificing profitability for short-term gains.

Announcement

Credit Acceptance Corporation's Strategic Moves: A Promising New CFO Amidst Complex Financial Landscapes

Published Thu, Jan 25 2024 9:01 PM UTC

Credit Acceptance Corporation (Nasdaq: CACC), a frontrunner in the auto financing industry, has announced the promotion of Jay Martin to the position of Chief Financial Officer effective from January 23, 2024. This strategic decision comes at a time of significant financial fluctuations for the firm and its corporate clients.The quarterly report from Q3 showcased diverse tre...

Financing Agreement

Credit Acceptance Fortifies Financial Position with Extension of Revolving Secured Warehouse Facility, Ensuring Stability Amidst Uncertain Times

Published Fri, Dec 29 2023 9:02 PM UTC

Credit Acceptance Announces Extension of Revolving Secured Warehouse Facility, Cementing Financial Stability during Uncertain Times
Southfield, Michigan, Dec. 29, 2023 - Credit Acceptance Corporation (Nasdaq: CACC) has made a strategic move to fortify its financial standing by announcing the extension of the deadline on which its $300.0 million revolving secured warehous...






 

Credit Acceptance's Segments
 
 
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Credit Acceptance does not provide revenue guidance.

Earnings Outlook
Credit Acceptance Corp does not provide earnings estimates.

 
Geographic Revenue Dispersion




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