Credit Acceptance traded at $511.95 this Thursday October 1st, decreasing $19.05 or 3.59 percent since the previous trading session. Looking back, over the last four weeks, Credit Acceptance lost 15.77 percent. Over the last 12 months, its price rose by 6.61 percent. Looking ahead, we forecast Credit Acceptance to be priced at 543.68 by the end of this quarter and at 509.20 in one year, according to Trading Economics global macro models projections and analysts expectations.
Credit Acceptance Corporation is engaged in offering financing programs that enable automobile dealers to sell vehicles to consumers. The Company’s financing programs are offered through a nationwide network of automobile dealers. The Company offers two programs: the Portfolio Program and the Purchase Program. Under the Portfolio Program, the Company advances money to dealers, which is referred to as dealer loan in exchange for the right to service the underlying consumer loans. Under the Purchase Program, the Company buys the consumer loans from the dealers, which is referred to as a purchased loan and keep all amounts collected from the consumer. Its target market consists of approximately 60,000 independent and franchised automobile dealers in the United States. The Company has market area managers located throughout the United States that market its programs to dealers, enroll new dealers, and support active dealers.