Credit Acceptance
Credit Acceptance is a company that has been helping individuals finance vehicles for over 50 years, offering a range of auto financing options and financial wellness resources through a network of over 15,000 dealers.
Company Overview
Credit Acceptance has been dedicated to helping individuals finance vehicles for over 50 years. The company supports a network of over 15,000 dealers and has financed over 4 million consumers. Known for its commitment to inclusivity, Credit Acceptance offers auto financing options for customers with bad credit, no credit, fixed income, and unemployment income. Moreover, Credit Acceptance provides full-spectrum financing, catering to various credit profiles.
Dealer Programs
Credit Acceptance offers two major programs for auto dealers: the Portfolio Program and the Purchase Program. The Portfolio Program allows dealers to receive future cash flow from customer collections. Meanwhile, the Purchase Program offers a higher upfront advance for dealers. Both programs are supported by the CAPS® system, which enables dealers to approve every customer and structure deals 24/7. Credit Acceptance also provides same-day funding with eContracting and eSignature options.
Consumer Services
Credit Acceptance provides a pre-qualification process that does not impact credit scores, making it easier for consumers to explore financing options. The company also reports payments to all three major credit bureaus. Customers have access to multiple no-fee payment options, including AutoPay, mail, and in-person payments. Furthermore, Credit Acceptance offers a mobile app for managing accounts and making payments securely.
Financial Wellness Resources
Credit Acceptance is committed to financial education and wellness through its ExtraCredit program, which offers various resources to help customers take control of their finances. The company also provides a monthly car payment calculator to assist customers in estimating their payments. These tools aim to foster better financial management and decision-making among consumers.
Community Involvement
Credit Acceptance supports various community organizations and initiatives through volunteer efforts and charitable contributions. The company has a dedicated Community Service Committee that oversees its charitable activities. Through these efforts, Credit Acceptance aims to make a positive impact on the communities it serves.