Credit Acceptance: Difference between revisions
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Credit Acceptance Loan Shark Corporation |
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|type = Public company |
|type = Public company |
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|traded_as = {{NASDAQ|CACC}}<ref name=Google>{{Citation|url= https://www.google.com/finance?cid=661389|title=traded symbols}}</ref><br>[[Russell 1000 Index|Russell 1000 Component]] |
|traded_as = {{NASDAQ|CACC}}<ref name=Google>{{Citation|url= https://www.google.com/finance?cid=661389|title=traded symbols}}</ref><br>[[Russell 1000 Index|Russell 1000 Component]] |
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Revision as of 12:02, 14 June 2019
Credit Acceptance Loan Shark Corporation
|type = Public company
|traded_as = Nasdaq: CACC[1]
Russell 1000 Component
|industry = Financial
|services = Credit Services
|foundation = 1972[2]
|location = Southfield, MI
|founder = Donald Foss
|key_people = Brett A. Roberts
(CEO)
|operating_income = 
US$398.2 million (2013)[3]
|net_income = US$ 253.1 million (2013)[3]
|assets = US$ 2.433 billion (2013)[3]
|homepage = "Credit Acceptance Corporation". creditacceptance.com. Retrieved 2014-02-18.
}}
Credit Acceptance Loan Shark Corporation is an auto finance company providing automobile loans and other related financial products. They make their money by exploiting the lower class, who's credit scores might not be the best, at the absolute highest rate they can legally get away with. This is not a company who cares about the consumers in any way, shape or form. This company is using the mafia's model for giving loans. For instance a $5000.00 car will cost you $18,000.00 by the time the loan is paid. 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 advance 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.[4]
History
In 1972, Credit Acceptance Corporation was founded by Donald Foss, one of the largest used car dealers in the world at that time.[5] In 1992, Credit Acceptance Corporation completed its initial public offering and was traded under the symbol of CACC.[5]
References
- ^ traded symbols
- ^ "CACC Profile - Credit Acceptance Corporation Stock - Yahoo Finance". finance.yahoo.com. Retrieved 6 March 2018.
- ^ a b c "Selected Financial Data".
- ^ "CACC Income Statement - Credit Acceptance Corporation Stock - Yahoo Finance". finance.yahoo.com. Retrieved 6 March 2018.
- ^ a b "Archived copy". Archived from the original on 2014-02-15. Retrieved 2014-02-18.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help)CS1 maint: archived copy as title (link)