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[CACC – Credit Acceptance Corp] Value in subprime auto

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 [...]
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