[CACC – Credit Acceptance Corp] Value in subprime auto
Posted By scuttleblurb On In [CACC] Credit Acceptance Corp | Comments Disabled
Most auto lenders won’t finance cash strapped buyers with deeply tainted or limited credit histories. Credit Acceptance Corp, founded in 1972 by Chairman and 11% owner Donald Foss[1] to collect loans originated by his own dealerships, steps into the breach with an unorthodox lending scheme that goes like this: the used car dealer originates a [...]