CACC on Nasdaq
Logo: Credit Acceptance, Public domain, via Wikimedia Commons4
Auto financing company
Credit Acceptance Corporation is an auto finance company providing automobile loans and other related financial products. The company operates its financial program through a national network of dealer-partners, the automobile dealers participating in the programs.3 From Wikipedia, CC BY-SA 4.0
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Last updated Oct 16, 2026.
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Credit Acceptance Corporation is an auto finance company providing automobile loans and other related financial products. The company operates its 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. Credit Acceptance reported annual revenue of $1.49B for 2019.3
From the company’s reports to the SEC. Every number links to the filing it came from.
Out of $2.3B in revenue.7
Out of $1.1B of cash from operations.7
Every line of the income statement in the latest annual report, as filed.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Finance Charges Revenue | $2.1B | $2.0B | $1.8B |
| Premiums earned | $95.6M | $96.1M | $79.6M |
| Other Income | $79.8M | $73.6M | $66.9M |
| Total revenue | $2.3B | $2.2B | $1.9B |
| Salaries and wages | $337.1M | $309.2M | $280.2M |
| General and administrative | $161.4M | $97.9M | $87.2M |
| Sales and marketing | $101.4M | $94.4M | $91.7M |
| Operating Expenses | $599.9M | $501.5M | $459.1M |
| Provision for Credit Losses on Forecast Changes | $338.3M | $493.8M | $413.7M |
| Provision for credit losses | $277.8M | $320.9M | $322.5M |
| Financing Receivable, Credit Loss, Expense (Reversal) | $616.1M | $814.7M | $736.2M |
| Interest | $462.9M | $419.5M | $266.5M |
| Provision for claims | $71.7M | $73.5M | $70.7M |
| Loss on extinguishment of debt | $1.2M | $0 | $1.8M |
| Loss on sale of building | $0 | $23.7M | $0 |
| Total costs and expenses | $1.8B | $1.8B | $1.5B |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total | $565.4M | $329.5M | $367.6M |
| Effective tax rate, amount | $141.5M | $81.6M | $81.5M |
| Net income | $423.9M | $247.9M | $286.1M |
| Basic (in usd per share) | $37.02 | $20.12 | $22.09 |
| Diluted (in usd per share) | $36.38 | $19.88 | $21.99 |
| Basic (in shares) | 11.5M shares | 12.3M shares | 13.0M shares |
| Diluted (in shares) | 11.7M shares | 12.5M shares | 13.0M shares |
Every line of the balance sheet in the latest annual report, as filed.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $22.8M | $343.7M | $13.2M |
| Restricted cash and cash equivalents | $477.9M | $501.3M | $457.7M |
| Debt Securities, Available-for-sale, Restricted | $106.2M | $106.4M | |
| Loans receivable | $11.5B | $11.3B | |
| Allowance for credit losses | -$3.6B | -$3.4B | |
| Loans receivable, net | $7.9B | $7.9B | $7.0B |
| Property and equipment, net | $12.6M | $14.7M | |
| Income taxes receivable | $67.2M | $4.2M | |
| Other assets | $35.8M | $34.0M | |
| Total Assets | $8.6B | $8.9B | |
| Accounts payable and accrued liabilities | $400.2M | $315.8M | |
| Revolving secured line of credit | $107.3M | $100.0K | |
| Secured financing | $5.2B | $5.4B | |
| Senior notes | $1.1B | $991.3M | |
| Deferred income taxes, net | $354.0M | $319.1M | |
| Income taxes payable | $0 | $117.2M | |
| Total Liabilities | $7.1B | $7.1B | |
| Preferred stock, $0.01 par value, 1,000,000 shares authorized, none issued | $0 | $0 | |
| Common stock, $.01 par value, 80,000,000 shares authorized, 10,680,143 and 12,048,151 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $100.0K | $100.0K | |
| Paid-in capital | $403.3M | $335.1M | |
| Retained earnings | $1.1B | $1.4B | |
| Accumulated other comprehensive loss | $1.0M | -$300.0K | |
| Total Shareholders' Equity | $1.5B | $1.7B | $1.8B |
| Total Liabilities and Shareholders' Equity | $8.6B | $8.9B | |
| Preferred stock, par value | $0.01 | $0.01 | |
| Preferred stock, shares authorized | 1.0M shares | 1.0M shares | |
| Preferred stock, shares issued | 0 shares | 0 shares | |
| Common stock, par value | $0.01 | $0.01 | |
| Common stock, shares authorized | 80.0M shares | 80.0M shares | |
| Common stock, shares issued | 10.7M shares | 12.0M shares | |
| Common stock, shares outstanding | 10.7M shares | 12.0M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $423.9M | $247.9M | $286.1M |
| Provision for credit losses | $616.1M | $814.7M | $736.2M |
| Depreciation | $3.6M | $6.7M | $8.9M |
| Amortization | $23.0M | $21.1M | $17.7M |
| Increase (Decrease) in Deferred Income Taxes | $34.6M | -$70.4M | -$38.0M |
| Stock-based compensation | $50.7M | $45.0M | $39.1M |
| Loss on extinguishment of debt | $1.2M | $0 | $1.8M |
| Loss on sale of building | $0 | $23.7M | $0 |
| Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Other Item | -$200.0K | $800.0K | $600.0K |
| Increase in accounts payable and accrued liabilities | $82.9M | $6.8M | $49.7M |
| Increase in income taxes receivable | -$63.0M | $100.0K | $4.4M |
| Increase (decrease) in income taxes payable | -$117.2M | $36.2M | $78.5M |
| Increase in other assets | -$1.0M | $5.3M | $18.8M |
| Net cash provided by operating activities | $1.1B | $1.1B | $1.2B |
| Purchases of restricted securities available for sale | -$43.3M | -$59.0M | -$43.3M |
| Proceeds from Sale of Debt Securities, Available-for-sale | $33.4M | $36.9M | $15.8M |
| Maturities of restricted securities available for sale | $12.2M | $9.3M | $8.5M |
| Principal collected on Loans receivable | $3.4B | $3.2B | $3.0B |
| Advances to Dealers | -$2.8B | -$3.6B | -$2.9B |
| Purchases of Consumer Loans | -$1.1B | -$1.0B | -$1.2B |
| Accelerated payments of Dealer Holdback | -$50.7M | -$59.0M | -$46.9M |
| Payments of Dealer Holdback | -$180.1M | -$241.2M | -$235.9M |
| Purchases of property and equipment | -$1.6M | -$1.8M | -$4.0M |
| Proceeds from Sale of Buildings | $0 | $3.2M | $0 |
| Net cash used in investing activities | -$674.3M | -$1.7B | -$1.4B |
| Borrowings under revolving secured line of credit | $2.1B | $6.1B | $7.4B |
| Repayments under revolving secured line of credit | -$2.0B | -$6.2B | -$7.4B |
| Proceeds from secured financing | $1.4B | $3.6B | $2.8B |
| Repayments of secured financing | -$1.6B | -$2.2B | -$2.5B |
| Proceeds from issuance of senior notes | $500.0M | $0 | $600.0M |
| Repayments of senior notes | -$400.0M | $0 | -$400.0M |
| Payments of debt issuance costs and debt issuance costs | -$19.8M | -$21.7M | -$33.3M |
| Repurchase of common stock | -$725.4M | -$313.3M | -$202.6M |
| Proceeds from Issuance of Common Stock | $23.5M | $15.6M | $5.2M |
| Other financing activities | $1.0M | -$17.0M | $6.4M |
| Net cash provided by financing activities | -$724.6M | $957.3M | $266.2M |
| Net increase in cash and cash equivalents and restricted cash and cash equivalents | -$344.3M | $374.1M | $53.2M |
| Cash paid during the period for interest | $438.4M | $393.4M | $242.1M |
| Cash paid during the period for income taxes | $279.3M | $103.7M | $31.9M |
Founded by Donald Foss in 1972.1
In 1972, Credit Acceptance Corporation was founded by Donald Foss, one of the largest used car dealers in the world at that time.
In 1992, Credit Acceptance Corporation completed its initial public offering on the Nasdaq exchange, where it trades under the symbol "CACC."
From Wikipedia’s article on Credit Acceptance, shared under CC BY-SA 4.0.6
Who has led Credit Acceptance, and when. Pick a name to see everywhere that person has worked.
On December 12, 2019 NPR aired a segment of Morning Edition called "The Big Business Of Subprime Auto Loans", by Anjali Kamat, which described "the murky world of subprime auto finance," and called it "eerily similar to the subprime mortgage lending that touched off the last financial crisis." Aaron Greenspan, a short-seller and transparency expert who published a detailed report about the company, said: "It's a very strange set of circumstances where, like, high finance has been married with this kind of seedy underbelly of the auto industry."
Credit Acceptance has been investigated by the Department of Justice and the Federal Trade Commission for questionable practices related to subprime lending. Credit Acceptance repossesses 35 percent of the cars it finances.
The company has also been criticized for its opaque accounting. According to an article by Aaron Back for the Wall Street Journal, "The problem is that the company’s unique accounting practices make it difficult to see how its loans are really doing. Credit Acceptance uses a form of 'level yield accounting' that is normally applied to purchases of already impaired loans. This means Credit Acceptance doesn’t disclose what portion of loans are delinquent or have defaulted."
From Wikipedia’s article on Credit Acceptance, shared under CC BY-SA 4.0.6
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
The numbers on this page point here. Each one links to the record it came from.
