Credit Acceptance Corporation

Credit Acceptance Corporation is an auto finance company headquartered in Southfield, Michigan, United States. Founded in 1972 by Donald Foss, its core business is providing automobile loans and related financial products, primarily specializing in the subprime market for consumers with limited or poor credit histories. The company's mission is to improve the well-being of credit-challenged Americans by enabling dealers to offer them financing for vehicle ownership.

Credit Acceptance operates through a national network of independent and franchised automobile dealers. It offers two primary financing programs: the "Portfolio Program," where it advances money to dealers for servicing consumer loans, and the "Purchase Program," where it buys consumer loans directly from dealers. Additionally, the company is involved in reinsuring vehicle service contracts. A key service is reporting customer payments to the three major credit bureaus, which provides an opportunity for consumers to build or rebuild their credit scores.

In recent leadership changes, Vinayak R. Hegde was appointed CEO and President in November 2025, and Joe Billante became Chief Financial Officer in July 2026. The company recently extended its revolving secured line of credit facility to June 2029 with reduced interest rates and reported first-quarter 2026 earnings that surpassed projections. While the company's stock reached a 52-week high in June 2026, it has faced scrutiny, including a 2023 joint lawsuit by the Consumer Financial Protection Bureau and the New York Attorney General concerning alleged deceptive practices, though the CFPB later withdrew from the suit. Credit Acceptance has also been recognized as a 2026 USA Today Top Workplaces Award Winner and ranked among Fortune's 2026 100 Best Companies to Work For®.