Welcome to our dedicated page for Credit Accep Mich news (Ticker: CACC), a resource for investors and traders seeking the latest updates and insights on Credit Accep Mich stock.
Credit Acceptance Corporation (Nasdaq: CACC) is a U.S. consumer finance company that focuses on automobile-related financing programs offered through a nationwide network of automobile dealers. The company’s news flow reflects its role in auto finance, its funding activities, and its public-company reporting obligations.
On this page, readers can review news items that Credit Acceptance has released through channels such as GlobeNewswire and that are referenced in its SEC filings. These include quarterly earnings announcements that discuss consolidated net income, adjusted net income, loan portfolio trends, forecasted collection rates on Consumer Loans, and changes in forecasted net cash flows from the loan portfolio. Such releases often provide detail on Consumer Loan assignment volumes, dealer enrollment and active dealer counts, and the company’s approach to forecasting and managing credit performance.
Another major category of news relates to the company’s funding and capital structure. Credit Acceptance regularly announces extensions and amendments to its revolving secured warehouse facilities and its revolving secured line of credit facility, including revised maturity dates and interest rate spreads over the Secured Overnight Financing Rate (SOFR). The company also issues press releases about asset-backed non-recourse secured financings, in which consumer loans are conveyed to special purpose entities and trusts that issue notes backed by those loans.
Corporate governance and leadership updates also appear in the company’s news. For example, Credit Acceptance has announced a CEO transition, with details on the planned retirement of its current Chief Executive Officer and the appointment of a successor, along with related board roles. The company additionally highlights workplace and culture recognitions from external organizations in its earnings and corporate communications.
Investors and observers can use this news page to follow developments in Credit Acceptance’s earnings, loan portfolio performance, funding arrangements, and leadership changes, as well as recurring descriptions of its auto dealer financing programs and their impact on consumers with varied credit histories.
Credit Acceptance (NASDAQ: CACC) has been named to the 2025 Fortune Best Workplaces in Financial Services & Insurance™ list for the eleventh consecutive year, ranking 10th among large companies, up 3 positions from the previous year.
The company, which provides vehicle financing solutions through a nationwide dealer network, attributes its success to a strong workplace culture featuring remote-first work options, flexible scheduling, and comprehensive benefits. CEO Ken Booth emphasized their commitment to creating an environment where team members can make meaningful impacts on dealers' and consumers' lives.
The recognition is based on Great Place To Work's analysis of survey responses from over 194,000 employees in the financial services and insurance industry, evaluating factors such as trust, fairness, and inclusivity.
Credit Acceptance (NASDAQ: CACC) has been recognized as one of PEOPLE Magazine's 100 Companies That Care® for the fourth consecutive year, ranking 44th on the list, up 15 positions from the previous year.
The company's achievements include providing automobile financing to underserved Americans, maintaining a remote-first workplace approach, and engaging in community service initiatives such as packing 106,000 meals for food banks and completing 263,000 miles through their Charity Miles program. This recognition marks their sixth workplace award in 2025, including ranking #34 on Fortune's 100 Best Companies to Work For® list.
The selection process involved analyzing over 1.3 million employee survey responses from companies representing more than 8.4 million employees.
Credit Acceptance (NASDAQ:CACC) has been named to the 2025 Crain's Fast 50 list for the ninth time, highlighting its position among metro Detroit's fastest-growing companies. The company reported significant growth with revenue increasing 29.5% to $2.2 billion in 2024 over a five-year period.
The recognition adds to CACC's impressive list of 2025 workplace awards, including ranking #34 on Fortune's 100 Best Companies to Work For®, #2 on Top Workplaces USA, and #4 on Top Workplaces in Financial Services. The company's success is attributed to its unique financing program that enables automobile dealers to serve customers regardless of credit history.
Credit Acceptance (Nasdaq: CACC) reported Q2 2025 consolidated net income of $87.4 million, or $7.42 per diluted share. Adjusted net income was $100.8 million, or $8.56 per diluted share, showing a decline from both Q1 2025 and Q2 2024.
Key highlights include a 6.8% increase in average loan portfolio balance to $8.0 billion, their largest ever. However, Consumer Loan assignment volumes decreased 14.6% in units and 18.8% in dollars compared to Q2 2024. The company repurchased approximately 530,000 shares, representing 4.5% of outstanding shares at the quarter's start.
The quarter saw a $55.8 million decrease in forecasted net cash flows from their loan portfolio, representing a 0.5% decline. The company also recorded a $23.4 million contingent loss related to legal matters and increased their estimated long-term effective income tax rate from 23% to 25%.
Credit Acceptance Corporation (Nasdaq: CACC) has announced the extension of its $300.0 million revolving secured warehouse facility. The facility's revolving period has been extended from December 29, 2026, to July 30, 2028. Additionally, the interest rate on borrowings has been reduced from SOFR plus 221.4 basis points to SOFR plus 205 basis points, representing a decrease of 16.4 basis points.
The company, which specializes in providing vehicle financing solutions through a nationwide network of automobile dealers, currently maintains a zero balance on this facility. Credit Acceptance enables vehicle purchases for consumers regardless of their credit history, while helping them improve their credit scores through reporting to national credit agencies.
Credit Acceptance (NASDAQ: CACC) has scheduled its second quarter 2025 earnings release for Thursday, July 31, 2025, after market close. The company will host a webcast at 5:00 p.m. Eastern Time to discuss the results.
To participate via telephone, attendees must pre-register through the provided link to receive dial-in information. The webcast will be accessible through the company's investor relations website, with a replay and transcript available afterward in the same location.
Credit Acceptance (Nasdaq: CACC) has been recognized as a 2025 Top Workplace in Financial Services, ranking #4 in the 1,000+ employee category, improving five positions from the previous year. The company has received multiple workplace awards in 2025, including ranking #34 on Fortune's 100 Best Companies to Work For® list and #2 on the Top Workplaces USA list.
The company's success is attributed to its mission of changing lives through vehicle financing, PRIDE values (Positive, Respectful, Insightful, Direct, Earnest), and commitment to remote work flexibility. Credit Acceptance provides financing solutions enabling automobile dealers to sell vehicles to consumers regardless of credit history, while helping customers improve their credit scores through reporting to national credit agencies.
Credit Acceptance Corporation (Nasdaq: CACC) has announced the extension of its $75.0 million revolving secured warehouse facility by two years, from September 30, 2026, to September 30, 2028. The company secured improved terms, including a reduction in the interest rate from SOFR plus 210 basis points to SOFR plus 185 basis points, and a decrease in the servicing fee from 6.0% to 4.0% of collections on underlying consumer loans.
The facility currently has no outstanding balance as of July 11, 2025. Credit Acceptance specializes in providing vehicle financing solutions through a nationwide network of automobile dealers, particularly serving consumers who might not qualify for traditional financing options.
Credit Acceptance Corporation (Nasdaq: CACC) has announced the extension of its revolving secured line of credit facility with a commercial bank syndicate. The maturity date has been extended by one year from June 22, 2027 to June 22, 2028. The Company reported no outstanding balance under the facility as of June 24, 2025, and there were no other material changes to the facility's terms.
Credit Acceptance specializes in providing vehicle financing solutions through a nationwide network of automobile dealers, enabling consumers with challenging credit histories to purchase vehicles while improving their credit scores.
Credit Acceptance reported Q1 2025 consolidated net income of $106.3 million ($8.66 per diluted share), with adjusted net income at $114.8 million ($9.35 per diluted share). The company achieved an 11% increase in average loan portfolio balance to $7.9 billion, marking their largest ever.
Key highlights include: a 0.2% decrease in forecasted net cash flows ($20.9 million), enrollment of 1,617 new dealers with 10,789 active dealers, and $68 million in dealer holdback payments. Consumer loan assignment volumes decreased by 10.1% in units and 15.5% in dollars compared to Q1 2024.
The company maintained strong liquidity with over $2.2 billion in unrestricted cash and available credit lines. Credit Acceptance earned recognition as a Top Workplaces USA award winner for the fifth consecutive year, ranking #2 in their size category.
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