Credit Acceptance

Credit Acceptance Corporation is an American auto finance company headquartered in Southfield, Michigan. It is involved in the provision and management of automobile loans and other related financial products across the United States. The company operates its finance program through a national network of dealerships and partners, allowing car dealers that are enrolled with the firm to offer an auto loan product to almost any customer, regardless of credit history. Credit Acceptance Corporation was founded in 1972. The firm is usually able to offer auto loans to those who might otherwise struggle to find a finance programme, including first-time car buyers and those who have bad credit or a limited credit history. Enrolled dealerships can offer a Credit Acceptance Corporation loan direct to customers, or potential customers can go to the firm’s website, apply for approval there, then get connected with local car dealerships that are already members of the programme. The firm reports to all three major credit bureaus in the US, meaning customers can potentially improve their credit score via their loan. The company also provides an online car buyer resource centre for potential customers, with videos, articles, and consumer reviews aimed at helping those with credit issues to purchase a car. The firm trades on the NASDAQ under the ticker CACC. Learn more about the CACC share price performance on eToro.