Credit Acceptance Corp - Company Profile
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Credit Acceptance Corp (CAC) is a financial services company that specializes in providing financing programs to automobile dealers. The company’s loan programs comprise a portfolio program, which advances money to dealers in exchange for the right to service the underlying consumer loans; and a purchase program, through which the company buys the consumer loans from the dealers and keeps all amounts collected from the consumer. Its services are primarily used by independent and franchised automobile dealers across various industries. Credit Acceptance operates through a nationwide network of automobile dealers in the US. The company's target market includes Michigan, Tennessee, New York, Ohio, Texas, and New Jersey in the US. CAC is headquartered in Southfield, Michigan, the US.
Headquarters
United States of America
Address
25505 W 12 Mile Rd, Southfield, Michigan, 48034-1846
Website
www.creditacceptance.com
Telephone
1 248 3532700
No of Employees
2,314
Industry
Financial Services
Ticker Symbol & Exchange
CACC (NASD)
Revenue (2024)
$2.3B
7.2%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
71%
(2024 vs 2023)
Market Cap*
$6.6B
Net Profit Margin (2024)
XYZ
59.6%
(2024 vs 2023)
* As of and is in US$
Credit Acceptance Corp premium industry data and analytics
Products and Services
| Products | Services |
|---|---|
| Loans: | Service Contracts |
| Auto |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2025 | Others | In April, the company was recognized with multiple 2025 Top Workplaces Spring Culture Excellence Awards. |
| 2024 | Corporate Awards | In July, the company was named by the Fortune as one of the Best Workplaces for Millennials. |
| 2024 | Others | In June, the company announced the extension of evolving secured line of credit facility with a commercial bank syndicate from June 22, 2026, to June 22, 2027. |
Competitor Comparison
| Key Parameters | Credit Acceptance Corp | General Motors Financial Company, Inc. | Ford Motor Credit Company LLC | Santander Consumer USA Holdings Inc | CarMax Business Services, LLC |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United States of America | United States of America | United States of America |
| City | Southfield | Fort Worth | Dearborn | Fort Worth | Richmond |
| State/Province | Michigan | Texas | Michigan | Texas | Virginia |
| No. of Employees | 2,314 | 9,000 | 5,000 | 5,576 | - |
| Entity Type | Public | Private | Private | Private | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Thomas N. Tryforos | Chairman | Executive Board | 2022 | 67 |
| Vinayak R. Hegde | President; Director; Chief Executive Officer | Executive Board | 2025 | 56 |
| Jay D. Martin | Chief Financial Officer | Senior Management | 2024 | 52 |
| Jonathan L. Lum | Chief Operating Officer | Senior Management | 2019 | 50 |
| Ravi Mohan | Chief Technology Officer | Senior Management | 2022 | 53 |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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