Credit Acceptance Announces Increase and Extension of Asset-Backed Financing

Core Insights - Credit Acceptance Corporation provides innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history [1][5] - The company has increased its asset-backed non-recourse secured financing from $200 million to $300 million, extending the revolving period to June 15, 2027 [3][4] Financing Solutions - The financing programs are offered through a nationwide network of automobile dealers, allowing sales to consumers who otherwise could not obtain financing [1] - These programs also generate repeat and referral sales from customers who improve their credit scores and eventually qualify for traditional financing [5] Company Overview - Credit Acceptance Corporation is publicly traded on the Nasdaq Stock Market under the symbol CACC [5] - The company reports to three national credit reporting agencies, providing consumers with an opportunity to improve their credit scores [5]