Type Public company Industry Financial Services Credit Services Founded 1972 | Traded as NASDAQ: CACC Key people Brett A. Roberts
(CEO) CFO Kenneth S. Booth (Age 49) | |
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Operating income Stock price CACC (NASDAQ) US$ 197.69 -2.11 (-1.06%)7 Mar, 4:00 PM GMT-5 - Disclaimer Headquarters Southfield, Michigan, United States CEO Brett A. Roberts (Jan 2002–) Profiles | ||
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 advances 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.
History
In 1972, Credit Acceptance Corporation was founded by Don Foss, one of the largest used car dealers in the world at that time. In 1992, Credit Acceptance Corporation completed its initial public offering and was traded under the symbol of CACC.