Credit Acceptance

Credit Acceptance Corp. engages in the provision of dealer financing programs that enables automobile dealers to sell vehicles to consumers, regardless of its credit history. Its financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers. The company was founded by Donald A. Foss in 1972 and is headquartered in Southfield, MI.

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Credit Acceptance reports mixed Q4 results, focuses on regulatory compliance

Credit Acceptance's Q4 2022 earnings call highlighted mixed financial results with growth in volumes but a decline in net income and EPS. The company faces challenges in managing cash flow expectations, legal defense, and competitive pressures while seeking opportunities in settlements, expense optimization, and market conditions.

Credit Acceptance reports stable Q1 performance amidst profitability challenges

Credit Acceptance Corporation demonstrated resilience with stable collection rates and growth in loan assignments, despite challenges.
While facing lower forecasted profitability and increased expenses, the company remains focused on managing risks and profitability effectively.
Opportunities exist for optimizing strategies in loan pricing, unit origination growth, and navigating industry underwriting practices.
Investments in technology systems and confidence in financial position signal a commitment to long-term success.

Credit Acceptance Q2 2023: Challenges in Net Income Amid Growth Opportunities

Credit Acceptance Corporation faces challenges in adjusted net income and earnings per share, driven by changes in forecasting methodology and poor loan vintage performance. However, the company's strategic focus on growth, intrinsic value, and technology investments positions it well to capitalize on opportunities in the competitive used vehicle financing market.

Credit Acceptance reports Q3 challenges but sees growth opportunities

Credit Acceptance Corporation faced challenges in collection rate forecasts and profitability but showed strength in volume growth and loan portfolio balance. The competitive landscape remains favorable with opportunities to navigate industry dynamics and enhance performance.

Credit Acceptance (CACC) faces lower Q4 earnings amidst growth opportunities

Credit Acceptance (CACC) reported lower adjusted net income and EPS for Q4 2023, driven by decreased collection rates and higher interest rates. Despite challenges, the company is optimistic about growth opportunities and maintains a strong buyback strategy tied to funding loan originations.

Credit Acceptance reports Q1 income dip but sees growth opportunities

Credit Acceptance faced challenges with decreased collection rates and forecasted collection percentages for the 2022 vintage.
Despite income declines, the company demonstrated strengths in volume growth, reduced common shares outstanding, and stable loan prepayments.
Opportunities lie in leveraging competitor market exits, revenue expansion through loan portfolio growth, and strategic capital deployment.
Managing challenges and capitalizing on opportunities will be crucial for Credit Acceptance's future financial performance and growth.

Credit Acceptance (CACC) reports mixed Q2 performance, focuses on growth and value creation

Credit Acceptance (CACC) navigated a mixed Q2 2024 with strong growth in loan portfolio and originations, despite challenges with forecast adjustments. The company remains committed to creating value for stakeholders and investing in technology enhancements. Opportunities exist for sustained profitability and market expansion.

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New York, New York--(Newsfile Corp. - January 12, 2023) - WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of Credit Acceptance Corporation (NASDAQ: CACC) resulting from allegations that Credit Acceptance may have issued materially misleading business information to the investing public.

CACC EQUITY NOTICE: ROSEN, LEADING INVESTOR COUNSEL, Encourages Credit Acceptance Corporation Investors to Inquire About Securities Class Action Investigation - CACC

Los Angeles, California--(Newsfile Corp. - January 12, 2023) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Credit Acceptance Corporation ("Credit Acceptance" or "the Company") (NASDAQ: CACC) for violations of the securities laws.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against Credit Acceptance Corporation and Encourages Investors with Losses to Contact the Firm

Los Angeles, California--(Newsfile Corp. - January 11, 2023) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Credit Acceptance Corporation ("Credit Acceptance" or "the Company") (NASDAQ: CACC) for violations of the securities laws.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Credit Acceptance Corporation and Encourages Investors with Losses to Contact the Firm

Southfield, Michigan, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq : CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) was recently named one of the Best and Brightest Companies To Work For® in the Nation – Fall 2022. The recognition comes from the National Association for Business Resources.

Credit Acceptance Named One of the Best and Brightest Companies to Work For® in the Nation

NEW YORK--( BUSINESS WIRE )--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating whether certain directors and officers of Credit Acceptance Corporation (“Credit Acceptance”) (NASDAQ: CACC) breached their fiduciary duties to Credit Acceptance and its shareholders. If you are a Credit Acceptance shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or jpettigrew@scott-scott.com.

INVESTIGATION ALERT: Scott+Scott Attorneys at Law LLP Investigates Credit Acceptance Corp.'s Directors and Officers for Breach of Fiduciary Duties – CACC

Los Angeles, California--(Newsfile Corp. - January 10, 2023) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Credit Acceptance Corporation ("Credit Acceptance" or "the Company") (NASDAQ: CACC) for violations of the securities laws.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

ONGOING INVESTIGATION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Credit Acceptance Corporation and Encourages Investors with Losses to Contact the Firm

NEW YORK , Jan. 9, 2023 /PRNewswire/ -- WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation of potential securities claims on behalf of shareholders of Credit Acceptance Corporation (NASDAQ: CACC) resulting from allegations that Credit Acceptance may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Credit Acceptance securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

CACC INVESTOR NOTICE: ROSEN, A TOP RANKED LAW FIRM, Encourages Credit Acceptance Corporation Investors to Inquire About Securities Class Action Investigation - CACC

San Francisco, California--(Newsfile Corp. - January 9, 2023) - Hagens Berman urges Credit Acceptance Corporation (NASDAQ: CACC) investors who suffered significant losses to submit your losses now.Visit: https://www.hbsslaw.com/investor-fraud/CACCContact An Attorney Now: CACC@hbsslaw.com844-916-0895Credit Acceptance Corporation (CACC) Investigation: Credit Acceptance, one of the nation's largest subprime auto lenders, offers financing programs that enable auto dealers to sell vehicles to consumers regardless of their credit history. The company has repeatedl

CACC ALERT: Hagens Berman, National Trial Attorneys, Encourages Credit Acceptance Corporation (CACC) Investors with Significant Losses to Contact Firm's Attorneys, NY AG Sues Company, Firm Investigating Possible Securities Law Violations

Los Angeles, California--(Newsfile Corp. - January 9, 2023) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Credit Acceptance Corporation ("Credit Acceptance" or "the Company") (NASDAQ: CACC) for violations of the securities laws.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

ONGOING INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against Credit Acceptance Corporation and Encourages Investors with Losses to Contact the Firm

The auto lender got hit with some bad news on the legal front.

Why Credit Acceptance Stock Fell 17.9% This Week

LOS ANGELES, CA / ACCESSWIRE / January 6, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Credit Acceptance Corporation ("Credit Acceptance" or "the Company") (NASDAQ:CACC) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Credit Acceptance Corporation and Encourages Investors with Losses to Contact the Firm

Los Angeles, California--(Newsfile Corp. - January 6, 2023) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Credit Acceptance Corporation ("Credit Acceptance" or "the Company") (NASDAQ: CACC) for violations of the securities laws.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

INVESTIGATION NOTICE: The Schall Law Firm Announces it is Investigating Claims Against Credit Acceptance Corporation and Encourages Investors with Losses to Contact the Firm

NEW YORK--( BUSINESS WIRE )--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Credit Acceptance Corporation (“Credit Acceptance” or the “Company”) (NASDAQ: CACC) on behalf of Credit Acceptance stockholders. Our investigation concerns whether Credit Acceptance has violated the federal securities laws and/or engaged in other unlawful business practices.

CREDIT ACCEPTANCE ALERT: Bragar Eagel & Squire, P.C. is Investigating Credit Acceptance Corporation on Behalf of Credit Acceptance Stockholders and Encourages Investors to Contact the Firm

NEW YORK--( BUSINESS WIRE )--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Credit Acceptance Corporation (NASDAQ: CACC) resulting from allegations that Credit Acceptance may have issued materially misleading business information to the investing public.

CACC EQUITY ALERT: Rosen Law Firm Encourages Credit Acceptance Corporation Investors to Inquire About Securities Class Action Investigation – CACC

Credit Acceptance (CACC) faces a lawsuit for allegedly luring thousands of low-income individuals into unaffordable high-interest car loans.

Credit Acceptance (CACC) Sued for Engaging in Predatory Lending

Credit Acceptance's (CACC) revenues will likely continue to improve, supported by the decent rise in dealer enrollments and active dealers. Yet, elevated costs might hurt profits.

Active Dealer Rise Aids Credit Acceptance (CACC), Costs Ail

Southfield, Michigan , Dec. 27, 2022 (GLOBE NEWSWIRE) -- Credi t Acceptance Corporation (Nasdaq : CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we increased the amount of Warehouse Facility V (the “Facility”), one of our revolving secured warehouse facilities, from $125.0 million to $200.0 million. We also extended the date on which the Facility will cease to revolve from December 18, 2023 to December 29, 2025. The maturity of the Facility was also extended from December 16, 2025 to December 27, 2027. The interest rate on borrowings under the Facility has increased from Secured Overnight Financing Rate (“SOFR”) plus 235 basis points to SOFR plus 245 basis points and the servicing fee has decreased from 6.0% to 4.0% of collections on the underlying consumer loans. As of December 27, 2022, we did not have a balance outstanding under the Facility. There were no other material changes to the terms of the Facility.

Credit Acceptance Announces Increase and Extension of Revolving Secured Warehouse Facility and Extension of Asset-Backed Financing

Southfield, Michigan, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq : CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named #14 among midsize organizations on Computerworld's Best Places to Work in IT for 2023.

Credit Acceptance Named #14 Midsize Company in Computerworld 2023 Best Places to Work in IT

Since I recommended taking profits on Credit Acceptance Corporation, the stock has incurred a 24% correction. Credit Acceptance Corporation is currently facing some business headwinds, primarily due to the surge of inflation to a 40-year high.

Credit Acceptance Has Become Interesting Again

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Credit Acceptance (CACC) reported earnings 30 days ago. What's next for the stock?

Why Is Credit Acceptance (CACC) Up 8.4% Since Last Earnings Report?

Southfield, Michigan , Nov. 22, 2022 (GLOBE NEWSWIRE) --  Credit Acceptance Corporation (Nasdaq : CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been awarded a 2022 Top Workplaces honor by The Detroit Free Press. We ranked #3 among large companies that made the list this year, the same ranking as a year ago. This is the 11th year in a row that Credit Acceptance has won a Detroit Free Press Top Workplace honor.

Credit Acceptance Named to the Detroit Free Press 2022 Top Workplaces List

Cascade Copper Corp. has filed to raise $740,000 in a Canadian IPO. The firm is developing potential copper, gold, and silver mineral deposits in Canada.

Cascade Copper Corp. Seeks Canadian Micro-IPO

Southfield, Michigan , Nov. 03, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $389.9 million asset-backed non-recourse secured financing (the “Financing”).  Pursuant to this transaction, we contributed loans having a value of approximately $500.1 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue four classes of notes:

Credit Acceptance Announces Completion of $389.9 Million Asset-Backed Financing

Credit Acceptance (CACC) records a decline in GAAP revenues in the third quarter of 2022.

News for Credit Acceptance Stock (CACC)