CREDIT ACCEPTANCE CORP

Credit Acceptance Corporation (NASDAQ: CACC) operates as an indirect automobile finance company serving consumers with impaired or limited credit histories through a nationwide network of automobile dealers. The company's website is creditacceptance.com.

Founded in 1972, Credit Acceptance enables automobile dealers to sell vehicles to consumers regardless of credit history by providing innovative financing solutions. The company operates through a single reportable segment focused on consumer vehicle financing and related products. Approximately 79.5 percent of consumer loans assigned to the company are made to borrowers with FICO scores below 650 or no FICO scores.

The company offers two primary financing programs. The Portfolio Program provides cash advances to dealers in exchange for the right to service underlying consumer loans, with dealers receiving a share of collections after the company recovers its advance and servicing fees. The Purchase Program involves the company purchasing consumer loans outright from dealers for a one-time payment, with the company retaining all subsequent collections. In 2025, the Portfolio Program represented 74.2 percent of unit volume and 71.7 percent of dollar volume, while the Purchase Program accounted for 25.8 percent of unit volume and 28.3 percent of dollar volume.

Finance charges comprise 92.4 percent of total revenue, including interest income, administrative fees, program fees, and assignment fees. Premiums earned on vehicle service contract reinsurance represent 4.1 percent of revenue, with other income comprising the remaining 3.5 percent. The company serves approximately 15,745 active dealers across the United States as of December 31, 2025, with significant concentrations in Michigan, Texas, Ohio, New Jersey, and Florida.

Credit Acceptance employs 2,314 full- and part-time team members organized into servicing, originations, engineering and analytics, and support functions. The company operates a remote-first work environment with team members distributed nationally. The company provides ancillary products including vehicle service contracts and Guaranteed Asset Protection through relationships with third-party providers, with its wholly owned subsidiary VSC Re Company engaged in reinsuring vehicle service contract coverage.