Credit Acceptance

Credit Acceptance Celebrates 10th Year on Fortune's 100 Best Companies to Work For® List

Retrieved on: 
Thursday, April 4, 2024
Credit Acceptance, Culture, Computerworld, Workplace, Environment, Trust, Financial services, Organization, Management

Southfield, Michigan, April 04, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the 100 Best Companies to Work For® by Fortune for the tenth time.

Key Points: 
  • Southfield, Michigan, April 04, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the 100 Best Companies to Work For® by Fortune for the tenth time.
  • With a ranking of #39 this year, the Company's longstanding presence on the list reinforces the strength of our culture.
  • “Credit Acceptance is focused on creating and sustaining an inclusive and caring workplace environment where our team can thrive.
  • Other workplace accolades we have received from Fortune include Best Workplace for Financial Services and Insurance™, Best Workplace for Millennials™, and Best Workplace for Women™.

Credit Acceptance Named 2024 Top Workplaces USA Award Winner

Retrieved on: 
Wednesday, March 20, 2024
Credit Acceptance, PRIDE, Computerworld, Culture, Workplace, Environment, Interface (computing), Research, PEOPLE, Credit, Nursing

Southfield, Michigan, March 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named a Top Workplaces USA Award winner for the fourth consecutive year.

Key Points: 
  • Southfield, Michigan, March 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named a Top Workplaces USA Award winner for the fourth consecutive year.
  • “Our team members are proof that an empowering work environment drives excellence across the organization, including tremendous growth over our 52-year history” said Ken Booth, Chief Executive Officer, Credit Acceptance.
  • “This award is a recognition of our ongoing commitment to changing lives and making Credit Acceptance a great place to work.”
    Remote work practices are critical to maintaining this environment.
  • The Top Workplaces USA Awards are based on feedback from Credit Acceptance team members through anonymous surveys.

Credit Acceptance Announces Completion of $200.0 Million Asset-Backed Financing

Retrieved on: 
Tuesday, February 27, 2024
Funding, Credit Acceptance

The Financing is structured so as not to affect our contractual relationships with dealers and to preserve the dealers’ rights to future payments of dealer holdback.

Key Points: 
  • The Financing is structured so as not to affect our contractual relationships with dealers and to preserve the dealers’ rights to future payments of dealer holdback.
  • Since 1972, Credit Acceptance has offered financing programs that enable automobile dealers to sell vehicles to consumers, regardless of their credit history.
  • Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones.
  • Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC.

Credit Acceptance Announces Extension of $100.0 Million Asset-Backed Financing

Retrieved on: 
Friday, February 16, 2024
Credit Acceptance, Funding

Southfield, Michigan, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have extended the $100.0 million asset-backed non-recourse secured financing that we entered into on January 29, 2021 (the “Financing”) and to which we refer as Term ABS 2021-1.

Key Points: 
  • Southfield, Michigan, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have extended the $100.0 million asset-backed non-recourse secured financing that we entered into on January 29, 2021 (the “Financing”) and to which we refer as Term ABS 2021-1.
  • Under the amendment effecting the extension, the date on which the Financing will cease to revolve has been extended from December 16, 2024 to February 17, 2026.
  • Since 1972, Credit Acceptance has offered financing programs that enable automobile dealers to sell vehicles to consumers, regardless of their credit history.
  • Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC.

Credit Acceptance Promotes Jay Martin to Chief Financial Officer

Retrieved on: 
Thursday, January 25, 2024
Treasury, Senior, Accounting, Credit Acceptance, Management

Southfield, Michigan, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the promotion of Jay Martin to Chief Financial Officer, effective January 23, 2024.

Key Points: 
  • Southfield, Michigan, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the promotion of Jay Martin to Chief Financial Officer, effective January 23, 2024.
  • Since joining Credit Acceptance in 2003, Mr. Martin has been successful in a variety of increasingly challenging roles throughout his tenure, including his most recent role as Senior Vice President, Finance and Accounting.
  • Mr. Martin will continue to lead our Finance department together with Doug Busk, Chief Treasury Officer.
  • He has always viewed the Company’s financial performance and analysis through a strategic lens while developing high-performing teams,” said Mr. Booth.

Credit Acceptance Announces Timing of Fourth Quarter 2023 Earnings Release and Webcast

Retrieved on: 
Wednesday, January 24, 2024
Telephone, Webcast, Person, Conference, News, CACC, Credit Acceptance, PIN, Broadcasting

Southfield, Michigan, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we expect to issue a news release with our fourth quarter 2023 earnings on Wednesday, January 31, 2024, after the market closes.

Key Points: 
  • Southfield, Michigan, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we expect to issue a news release with our fourth quarter 2023 earnings on Wednesday, January 31, 2024, after the market closes.
  • A webcast is scheduled for Wednesday, January 31, 2024, at 5:00 p.m. Eastern Time to discuss fourth quarter 2023 earnings.
  • Conference Call and Webcast Information:
    Only persons accessing the webcast by telephone will be able to pose questions to the presenters during the webcast.
  • Since 1972, Credit Acceptance has offered financing programs that enable automobile dealers to sell vehicles to consumers, regardless of their credit history.

Credit Acceptance Announces Extension of Revolving Secured Warehouse Facility

Retrieved on: 
Friday, December 29, 2023
Credit Acceptance

Southfield, Michigan, Dec. 29, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we extended the date on which our $300.0 million revolving secured warehouse facility will cease to revolve from May 20, 2025 to December 29, 2026.

Key Points: 
  • Southfield, Michigan, Dec. 29, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we extended the date on which our $300.0 million revolving secured warehouse facility will cease to revolve from May 20, 2025 to December 29, 2026.
  • There were no other material changes to the terms of the facility.
  • Since 1972, Credit Acceptance has offered financing programs that enable automobile dealers to sell vehicles to consumers, regardless of their credit history.
  • Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC.

Credit Acceptance Announces Completion of $294.0 Million Asset-Backed Financing

Retrieved on: 
Thursday, December 21, 2023
Funding, Credit Acceptance, News

The Financing is structured so as not to affect our contractual relationships with our dealers and to preserve the dealers’ rights to future payments of dealer holdback.

Key Points: 
  • The Financing is structured so as not to affect our contractual relationships with our dealers and to preserve the dealers’ rights to future payments of dealer holdback.
  • Since 1972, Credit Acceptance has offered financing programs that enable automobile dealers to sell vehicles to consumers, regardless of their credit history.
  • Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones.
  • Credit Acceptance is publicly traded on the Nasdaq stock market under the symbol CACC.

Credit Acceptance Announces Closing of $600.0 Million Senior Notes Offering and Completion of Tender Offer for Senior Notes Due 2024

Retrieved on: 
Tuesday, December 19, 2023
Credit Acceptance, Sale, Letter, Person, National Association, Risk, Letter of transmittal, WalletHub, Trustee, Security (finance), Annual report

The Company also announced today the completion of its previously announced cash tender offer (the “Offer”) for any and all of its 5.125% senior notes due 2024 (the “2024 notes”), which expired at 5:00 p.m., New York City time, on December 14, 2023 (the “Expiration Time”).

Key Points: 
  • The Company also announced today the completion of its previously announced cash tender offer (the “Offer”) for any and all of its 5.125% senior notes due 2024 (the “2024 notes”), which expired at 5:00 p.m., New York City time, on December 14, 2023 (the “Expiration Time”).
  • The Company today accepted for purchase and paid for all the 2024 notes validly tendered in the Offer and not validly withdrawn at or before the Expiration Time.
  • The Company further announced today that it will redeem all of the 2024 notes that were not purchased in, and remain outstanding following the completion of, the Offer, in accordance with the indenture governing the 2024 notes (the “2024 notes indenture”).
  • Such 2024 notes will be redeemed on the Redemption Date at a redemption price equal to 100.000% of the principal amount thereof.

Credit Acceptance Corporation Announces Expiration and Results of Tender Offer For Any and All of Its $400,000,000 Aggregate Principal Amount of 5.125% Senior Notes Due 2024

Retrieved on: 
Friday, December 15, 2023
Telephone, Credit Acceptance, Letter, Settlement date, CUSIP, Risk, Letter of transmittal, Wells Fargo, Debt-to-GDP ratio, WalletHub, Security (finance), Annual report

According to information provided by Global Bondholder Services Corporation, the tender agent and the information agent for the Offer, Notes in an aggregate principal amount of $322,270,000 were validly tendered and not validly withdrawn at or before the Expiration Time.

Key Points: 
  • According to information provided by Global Bondholder Services Corporation, the tender agent and the information agent for the Offer, Notes in an aggregate principal amount of $322,270,000 were validly tendered and not validly withdrawn at or before the Expiration Time.
  • Holders who validly tendered (and did not validly withdraw) their Notes at or before the Expiration Time will receive $1,000 for each $1,000 principal amount of Notes accepted by us for purchase in the Offer.
  • This announcement is not an offer to purchase or a solicitation of an offer to sell any securities.
  • The Offer was made solely by means of the Offer to Purchase and the related Letter of Transmittal.