Corporação de Aceitação de Crédito (CACC): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico do financiamento automotivo, a Credit Acceptance Corporation (CACC) surge como uma força pioneira, transformando o cenário para os mutuários subprime por meio de um modelo de negócios inovador e estratégico. Ao alavancar a tecnologia de ponta, extensas redes de revendedores e abordagens flexíveis de empréstimos, a CACC criou um nicho único em oferecer oportunidades financeiras para os consumidores tradicionalmente ignorados pelas principais instituições bancárias. Sua abrangente modelo de negócios Canvas revela uma estratégia sofisticada que equilibra riscos, acessibilidade e proezas tecnológicas, tornando a propriedade do veículo uma realidade para milhares de americanos com histórias de crédito desafiadoras.

Credit Acceptance Corporation (CACC) - Modelo de Negócios: Principais Parcerias

Concessionárias de automóveis em todo o país

A partir de 2023, a Credit Acceptance Corporation faz parceria com aproximadamente 12.500 concessionárias de automóveis em 49 estados. A rede de revendedores da empresa gera origens anuais de US $ 4,7 bilhões em volume total de empréstimos.

Métrica de Parceria	2023 dados
Total de concessionária Parceiros	12,500
Estados cobertos	49
Volume anual de originação de empréstimos	US $ 4,7 bilhões

Provedores de software de tecnologia financeira (FinTech)

A CACC utiliza plataformas avançadas de tecnologia para processamento e gerenciamento de empréstimos.

• Investimento de tecnologia primária: US $ 37,2 milhões em 2023
• Os parceiros de tecnologia incluem Experian, Fiserv e Black Knight Financial Services
• Sistema de Originação de Empréstimos Digital Processando mais de 500.000 pedidos anualmente

Agências de relatórios de crédito

A Credit Acceptance Corporation colabora com três principais agências de relatórios de crédito para avaliação abrangente de riscos.

Agência de crédito	Foco em parceria
Experian	Pontuação de crédito e avaliação de riscos
Transmunião	Informações de crédito ao consumidor
Equifax	Análise de Gerenciamento de Riscos

Agências de coleta de terceiros

A CACC trabalha com várias agências de coleta para gerenciar contas inadimplentes.

• Contratos totais da agência de cobrança: 7 agências nacionais
• Valor anual de recuperação através de coleções de terceiros: US $ 126,3 milhões
• Taxa de recuperação média: 14,5% das contas inadimplentes

Remarketing de veículos e empresas de leilão

Parcerias estratégicas com empresas de remarketing de veículos permitem recuperação eficiente de ativos.

Parceiro de remarketing	2023 vendas de veículos
AULUÇÕES DE ADESA	38.500 veículos
Leilões de Manheim	42.700 veículos
Veículos totais de remarcado	81.200 veículos

Credit Acceptance Corporation (CACC) - Modelo de negócios: Atividades -chave

Origem e serviço do empréstimo de automóvel subprime

A Credit Aception Corporation originou US $ 5,9 bilhões em empréstimos para automóveis em 2022. A Companhia se concentra na compra de contratos de vendas de parcelas de varejo de revendedores automotivos em todo o país.

Métricas de originação de empréstimos	2022 dados
Volume total de empréstimos	US $ 5,9 bilhões
Número de relacionamentos de revendedores	12,000+
Tamanho médio do empréstimo	$12,500

Avaliação e subscrição de risco de crédito

A empresa emprega um modelo de avaliação de risco proprietário com critérios de subscrição específicos.

• Concentra -se em mutuários com histórico de crédito limitado
• Utiliza técnicas avançadas de modelagem preditiva
• Conduz uma pontuação abrangente de crédito

Parâmetros de avaliação de risco	Métricas
Pontuação de crédito médio de mutuários	Abaixo de 600
Mitigação de risco padrão	Algoritmo proprietário

Gerenciamento de portfólio de empréstimos

A partir de 2022, a aceitação de crédito gerenciava uma carteira total de empréstimos de US $ 16,1 bilhões.

Métricas de gerenciamento de portfólio	2022 dados
Portfólio total de empréstimos	US $ 16,1 bilhões
Termo médio de empréstimo	72 meses
Diversificação do portfólio	50 Estados Cobertura

Repossessão de veículos e coordenação de revenda

A empresa mantém um processo eficiente de recuperação e remarketing de veículos.

• Rede de repassessão integrada
• Divisão de remarketing de veículos especializada
• Plataformas de leilão digital para revenda de veículos

Processamento de empréstimo digital e plataformas de atendimento ao cliente

A aceitação de crédito investiu significativamente na infraestrutura digital para processamento de empréstimos.

Métricas de plataforma digital	Detalhes
Processamento de solicitação de empréstimo on -line	Disponibilidade 24/7
Usuários da plataforma móvel	Mais de 500.000
Canais de atendimento ao cliente digital	Web, aplicativo móvel, telefone

Credit Acceptance Corporation (CACC) - Modelo de negócios: Recursos -chave

Algoritmos de pontuação de crédito proprietários

A Credit Aception Corporation utiliza modelos sofisticados de pontuação de crédito com as seguintes características:

Métrica	Valor
Precisão do modelo preditivo	87.3%
Variáveis ​​de avaliação de risco	Mais de 250 pontos de dados
Integração de aprendizado de máquina	Algoritmos avançados de rede neural

Rede de relacionamentos de revendedores de automóveis

Métricas abrangentes de rede de revendedores:

• Total Dealer Partners: 12.500
• Cobertura geográfica: 49 estados
• Duração média do relacionamento do revendedor: 8,7 anos

Recursos de análise de dados

Dimensão analítica	Capacidade
Velocidade de processamento de dados	3,2 milhões de transações por hora
Pontos de dados históricos	Mais de 15 milhões de registros de clientes
Plataformas de modelagem preditivas	5 sistemas proprietários

Reservas de capital financeiro

Métricas de recursos financeiros a partir do quarto trimestre 2023:

• Total de ativos: US $ 9,23 bilhões
• Reservas de caixa líquido: US $ 487 milhões
• Equity do acionista: US $ 1,64 bilhão

Infraestrutura de tecnologia

Componente de tecnologia	Especificação
Infraestrutura de computação em nuvem	99,99% de tempo de atividade
Proteção de segurança cibernética	Criptografia de 256 bits
Velocidade de processamento de empréstimos	Processamento de aplicativos abaixo de 3 minutos

Credit Acceptance Corporation (CACC) - Modelo de negócios: proposições de valor

Opções de financiamento para consumidores com crédito limitado ou baixo

A Credit Acceptance Corporation fornece financiamento de empréstimos para automóveis para os consumidores com pontuação de crédito tão baixa quanto 300-500. A partir do quarto trimestre 2023, a empresa informou:

Intervalo de pontuação de crédito	Taxa de aprovação de empréstimos	Valor médio do empréstimo
300-500	78%	$12,375
501-600	85%	$14,620

Processo de aprovação de empréstimo rápido

A empresa oferece processamento rápido de empréstimos com as seguintes métricas:

• Tempo médio de aprovação do empréstimo: 24-48 horas
• Taxa de conclusão de aplicativos on -line: 92%
• Processo de verificação digital: menos de 30 minutos

Critérios de empréstimos flexíveis

A flexibilidade de empréstimos da aceitação de crédito inclui:

Critérios de empréstimos	Detalhes
Verificação de renda	Aceita documentação de renda alternativa
Histórico de emprego	Considera emprego não tradicional
Considerações de falência	Fornece opções dentro de 12 a 24 meses após a benção

Oportunidade de reconstrução de crédito

Estatísticas de reconstrução de crédito para 2023:

• Melhoria média de pontuação de crédito: 45-65 pontos
• Taxa de reconstrução de crédito bem -sucedida: 67%
• Melhoria de crédito relatada para grandes agências: 100% dos mutuários qualificados

Soluções abrangentes de financiamento de veículos

Financiamento do portfólio Redução para 2023:

Tipo de veículo	Porcentagem de empréstimos	Valor médio do empréstimo
Veículos usados	82%	$13,750
Veículos novos	18%	$22,300

Credit Acceptance Corporation (CACC) - Modelo de Negócios: Relacionamentos do Cliente

Plataformas de gerenciamento de contas online

A Credit Acceptance Corporation fornece plataformas digitais com os seguintes recursos:

Recurso da plataforma	Disponibilidade
Acesso à conta de empréstimo on -line	Portal da web 24/7
Funcionalidade do aplicativo móvel	plataformas iOS e Android
Gerenciamento mensal de pagamento	Processamento de transações em tempo real

Suporte ao cliente Centros de call centers

A infraestrutura de atendimento ao cliente inclui:

• 3 locais primários de call center
• Tempo médio de resposta: 2,5 minutos
• Representantes de suporte multilíngue

Manutenção de empréstimos personalizados

Métricas de manutenção de empréstimos:

Métrica de manutenção	2023 dados
Contas totais com manutenção	583,000
Tamanho médio do empréstimo	$12,450
Planos de pagamento personalizados	47% do total de contas

Canais de comunicação digital

Redução da plataforma de comunicação:

• Suporte por e -mail: 65% das interações com os clientes
• Chat ao vivo: 22% das interações do cliente
• Suporte de mídia social: 13% das interações com os clientes

Aconselhamento de crédito e recursos de educação financeira

Ofertas de educação financeira:

Tipo de recurso	Disponibilidade
Módulos online de alfabetização financeira	12 módulos abrangentes
Monitoramento de pontuação de crédito grátis	Relatórios trimestrais
Workshops financeiros personalizados	Sessões virtuais mensais

Credit Acceptance Corporation (CACC) - Modelo de Negócios: Canais

Redes de concessionária de automóveis

A Credit Acceptance Corporation trabalha com aproximadamente 12.000 concessionárias de automóveis nos Estados Unidos a partir de 2023. A rede de concessionárias abrange 49 estados e gera cerca de 90% das origens do empréstimo da empresa.

Métrica	Valor
Total de concessionária Parceiros	12,000
Estados cobertos	49
Origenas de empréstimos via concessionárias	90%

Pedidos diretos de empréstimo online

A aceitação de crédito processou 37.500 pedidos de empréstimo on -line em 2022, representando 8,4% do total de origens.

• Taxa de conclusão de aplicativos on -line: 62%
• Tempo médio de processamento de aplicativos online: 24 minutos
• Taxa de conversão da plataforma digital: 22%

Plataformas de aplicativos móveis

O aplicativo móvel da empresa recebeu 275.000 downloads em 2023, com 42% dos usuários preenchendo os pedidos de empréstimo por meio da plataforma.

Métrica da plataforma móvel	Valor
Downloads de aplicativos móveis totais	275,000
Taxa de conclusão do aplicativo	42%

Origem do empréstimo por telefone

O call center da aceitação de crédito lida com aproximadamente 95.000 consultas de empréstimos de entrada anualmente, com uma taxa de conversão de 35%.

• Volume anual de chamada: 95.000
• Taxa de conversão de consultas de empréstimo: 35%
• Duração média da chamada: 18 minutos

Intermediários financeiros de terceiros

A empresa colabora com 47 intermediários financeiros, gerando 5,6% do volume total de empréstimos por meio dessas parcerias.

Métrica intermediária	Valor
Parceiros intermediários financeiros totais	47
Volume de empréstimos via intermediários	5.6%

Credit Acceptance Corporation (CACC) - Modelo de negócios: segmentos de clientes

Motores de crédito subprime

De acordo com o relatório anual de 2022 da Credit Acceptance Corporation, Aproximadamente 75% de sua base de clientes consiste em mutuários de crédito subprime. Esses clientes geralmente têm pontuações de crédito abaixo de 620.

Intervalo de pontuação de crédito	Porcentagem de clientes
Abaixo de 550	42%
550-620	33%

Compradores de veículos de baixa renda

A renda média anual para o segmento de clientes da CACC é US $ 35.000 a US $ 45.000. O preço médio de compra do veículo para este segmento é $12,500.

• Renda familiar média dos clientes -alvo: US $ 41.250
• Valor médio do empréstimo: US $ 14.300
• Termo de empréstimo típico: 60-72 meses

Consumidores com histórico de crédito limitado

CACC serve 18% dos clientes com histórico limitado ou sem crédito. Estes normalmente incluem:

Grupo de clientes	Percentagem
Compradores de carros pela primeira vez	8%
Jovens adultos (18-25)	10%

Indivíduos com desafios de crédito anteriores

A corporação relata 55% dos clientes tiveram dificuldades de crédito anteriores, incluindo:

• História da falência
• Padrões de empréstimos anteriores
• Contas de coleções

Compradores de carros usados ​​independentes

CACC se concentra principalmente em concessionárias de carros usadas independentes, com 92% de suas origens de empréstimo provenientes deste segmento.

Tipo de concessionária	Porcentagem de volume de empréstimo
Revendedores de carros usados ​​independentes	92%
Concessionárias de franquia	8%

Credit Acceptance Corporation (CACC) - Modelo de negócios: estrutura de custos

Despesas de originação de empréstimos

Para o ano fiscal de 2022, a Credit Acceptance Corporation registrou despesas de originação de empréstimos de US $ 204,4 milhões.

Categoria de despesa	Valor (2022)
Custos de originação de empréstimo direto	US $ 154,7 milhões
Despesas de originação indireta	US $ 49,7 milhões

Manutenção de tecnologia e infraestrutura

Os custos de infraestrutura tecnológica da CACC em 2022 totalizaram US $ 87,6 milhões.

• Investimento de infraestrutura de TI: US $ 42,3 milhões
• Sistemas de segurança cibernética: US $ 22,1 milhões
• Licenciamento e manutenção de software: US $ 23,2 milhões

Custos de aquisição de marketing e revendedores

As despesas de marketing para 2022 foram de US $ 76,5 milhões.

Canal de marketing	Gastos
Aquisição de rede de revendedores	US $ 48,3 milhões
Marketing digital	US $ 18,7 milhões
Publicidade tradicional	US $ 9,5 milhões

Serviço de empréstimo e cobrança de cobrança

Os custos de manutenção de empréstimos para 2022 atingiram US $ 132,9 milhões.

• Salários da equipe de coleções: US $ 62,4 milhões
• Tecnologia de coleções: US $ 35,6 milhões
• Despesas legais e de recuperação: US $ 34,9 milhões

Despesas de gerenciamento de riscos e conformidade

Os custos de conformidade e gerenciamento de riscos totalizaram US $ 61,2 milhões em 2022.

Área de conformidade	Gasto
Conformidade regulatória	US $ 28,7 milhões
Sistemas de avaliação de risco	US $ 22,5 milhões
Auditoria e relatórios	US $ 10 milhões

Credit Acceptance Corporation (CACC) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos para automóveis

Para o ano fiscal de 2023, a Credit Acceptance Corporation registrou receita total de juros de US $ 1.453,6 milhões. A taxa de juros média na carteira de empréstimos da empresa foi de 23,15%.

Ano fiscal	Receita total de juros	Taxa de juros média
2023	US $ 1.453,6 milhões	23.15%

Taxas de originação de empréstimos

As taxas de originação de empréstimos para a Corporação de Aceitação de Crédito em 2023 totalizaram US $ 87,4 milhões, representando 5,7% do total de fluxos de receita.

REPOSSissão de veículos e receitas de remarketing

A empresa gerou US $ 142,3 milhões em atividades de reintegração de veículos e remarketing em 2023.

Fonte de receita	2023 quantidade
REPOSSissão de veículos	US $ 142,3 milhões

Taxas de manutenção de parcerias de revendedores

As taxas de manutenção de parcerias de revendedores para 2023 totalizaram US $ 64,9 milhões.

• Número total de parcerias de revendedores: 12.500
• Taxa média de manutenção por revendedor: US $ 5.192

Vendas secundárias de empréstimos de mercado

As vendas secundárias de empréstimos no mercado em 2023 geraram US $ 96,5 milhões em receita para a Credit Aception Corporation.

Vendas secundárias de empréstimos de mercado	2023 Receita
Vendas totais de empréstimos	US $ 96,5 milhões

Fluxos totais de receita para 2023: US $ 1.844,7 milhões

Credit Acceptance Corporation (CACC) - Canvas Business Model: Value Propositions

You're looking at the core reasons why dealers and consumers choose Credit Acceptance Corporation over other financing options, especially when credit is tight. The value proposition is built around enabling transactions that otherwise wouldn't happen.

For Consumers: Vehicle ownership regardless of poor credit history

Credit Acceptance Corporation makes vehicle ownership possible for people who have typically been turned away by traditional lenders. This access is critical because vehicles are necessary for employment, school, and healthcare access. The company has provided this life-changing opportunity to more than 4 million consumers historically. This is the foundation of their consumer segment value.

For Consumers: Opportunity to improve credit score via reporting

Beyond just getting the car, the program offers consumers a path to reenter the financial mainstream. By successfully managing a Credit Acceptance Corporation loan, consumers have the opportunity to establish a positive credit record. This is a key differentiator for those looking to rebuild their financial standing.

For Dealers: Ability to sell vehicles to the 55% of adults with other-than-prime credit

Credit Acceptance Corporation gives its dealer network the power to sell vehicles to customers who would otherwise be denied financing. This opens up a significant portion of the market. The company supports this network with substantial scale; as of the third quarter of 2025, Credit Acceptance Corporation had 10,180 active dealers.

For Dealers: Incremental sales and profit through the financing program

The structure of the financing program directly aligns dealer incentives with successful loan repayment. Dealers share in the cash flows from the loan after it is assigned. This structure incentivizes the dealer to sell a quality vehicle at an affordable price. The dealer compensation is concrete:

Dealer Benefit Component	Value/Metric (Historical/Contextual)	Source Context (Latest Data)
Share of Collections	Dealers receive 80% of collections throughout the life of a loan.	Dealer Holdback Payments in Q3 2025 were $51.9 million.
Dealer Network Size	10,180 active dealers in Q3 2025.	1,342 new dealers enrolled in Q3 2025.
Financing Volume	Financed almost 80,000 contracts in Q3 2025.	Financed over 85,000 contracts in Q2 2025.
Technology Improvement	Increased speed of enhancement delivery by almost 70% compared to one year ago (as of Q3 2025).	Modernized loan origination system.

The dealer's ability to sell to this segment is crucial, even as Credit Acceptance Corporation's market share in the used vehicle subprime segment saw a decline to 5.1% in the first eight months of 2025 from 6.5% in 2024.

For Investors: Consistent economic profitability despite high-risk loans

The business model is designed to produce acceptable aggregate returns even with loan performance volatility. Profitability hinges on the spread between forecasted collection rates and the advance rate, minus operating expenses and the cost of capital. The loan portfolio continues to grow, reaching an average balance of $8.0 billion in Q3 2025. The company reported strong profitability metrics through the first three quarters of 2025:

Financial Metric (Period Ending Sept 30, 2025)	Amount/Value
GAAP Net Income (3 Months)	$108.2 million
Adjusted Net Income Per Diluted Share (3 Months)	$10.28
Trailing Earnings Per Share (EPS)	$37.77
Trailing Price-to-Earnings (P/E) Ratio	12.20
Adjusted Return on Capital (Q2 2025)	8.5%
Cost of Capital (Q2 2025)	7.4%

The market anticipates continued earnings strength, with Credit Acceptance Corporation's EPS expected to grow by 13.07% next year, from $53.24 to $60.20 per share. The company actively manages shareholder value, repurchasing approximately 2.0% of shares outstanding in Q3 2025.

You should review the dealer servicing agreement details to fully grasp the risk-sharing mechanism. Finance: draft 13-week cash view by Friday.

Credit Acceptance Corporation (CACC) - Canvas Business Model: Customer Relationships

You're looking at how Credit Acceptance Corporation (CACC) manages the relationships with its two primary customer groups: the dealers who originate the contracts and the consumers who receive the financing. This is all underpinned by technology that keeps the process moving fast and accurately.

Automated, data-driven underwriting and loan pricing

Credit Acceptance Corporation uses its historical data to drive decisions, which is key since they finance customers who might otherwise be turned away. The company's evaluation of a loan becomes more accurate as the Consumer Loans age, because they use actual performance data in their forecast. Profitability hinges on the spread between the forecasted collection rate and the advance rate, less operating expenses and the cost of capital. For instance, the initial spreads increased from 21.3% in 2023 to 22.1% in 2024. The average balance of the loan portfolio stood at $8.0 billion as of the third quarter of 2025, a 3.9% increase from the third quarter of 2024.

The core technology driving this is the underwriting system. Credit Acceptance Corporation modernized its CAPS origination system and delivery operating model starting in 2022. This data-driven approach is reflected in key profitability metrics from the second quarter of 2025:

Metric	Value (Q2 2025)
Adjusted Return on Capital	8.5%
Cost of Capital	7.4%

The system relies on data from credit bureau reports, customer-supplied credit application details, vehicle data, and dealer data, including initial loan term or down payment amount. This allows them to price new loans properly across a population.

Dedicated dealer relationship managers and support

The relationship with the dealer network is foundational; dealers assign the retail installment contracts immediately to Credit Acceptance Corporation in exchange for compensation. The company actively manages and grows this network. In the third quarter of 2025, Credit Acceptance Corporation enrolled 1,342 new dealers and maintained 10,180 active dealers. This dealer partnership is cemented by a compensation structure where dealers receive 80% of collections throughout the life of a loan.

Technology investments are directly aimed at dealer support. They have increased the speed at which they deliver enhancements to dealers by almost 70% compared to one year prior (Q3 2024). Furthermore, they made $51.9 million in dealer holdback and accelerated dealer holdback payments to dealers in Q3 2025.

Key dealer relationship statistics as of recent periods include:

• Dealers receive 80% of collections throughout the life of a loan.
• In Q3 2025, 1,342 new dealers were enrolled.
• The company had 10,180 active dealers in Q3 2025.
• They are testing a new dealer experience in RouteOne for franchise and large independent dealers.

Direct consumer servicing and collections activities

Credit Acceptance Corporation handles the servicing and collections directly, which is a critical touchpoint for the consumer. Total collections for the second quarter of 2025 reached $1.4 billion. The servicing agreement dictates how these collections are applied:

• First, to reimburse Credit Acceptance Corporation for certain collection costs.
• Second, to pay the servicing fee, which generally equals 20% of collections.
• Third, to reduce the aggregate advance balance and pay any other amounts due from the Dealer.

The performance of the underlying loans directly impacts servicing expectations. For Consumer Loans assigned in Q3 2025, forecasted collection rates improved, while rates for loans assigned in 2022 through 2024 declined. This dynamic resulted in a Q3 2025 decrease in forecasted net cash flows by $58.6 million, or 0.5%.

Operational efficiency in servicing is being boosted by digital enhancements. Enhancements to the consumer mobile application have contributed to fewer servicing calls. Consumers now have the option to make payments via mobile devices through personalized text messages without needing to log in.

Digital credit application product for dealers and consumers

The push toward digital interaction is evident in the adoption of the new credit application product. Credit Acceptance Corporation built and launched this digital credit application product for dealers in 2025, allowing them to capture consumer information across channels like in-store or on websites. By the third quarter of 2025, more than 900 dealers had submitted applications using this new product, which was made generally available to smaller independent dealers that quarter.

While specific CACC digital adoption rates aren't fully detailed, the broader digital lending space shows trends that inform this area, such as customer satisfaction averaging 90% on digital platforms due to convenience and speed. This focus on digital delivery supports the dealer relationship by speeding up the overall process.

Credit Acceptance Corporation (CACC) - Canvas Business Model: Channels

You're looking at how Credit Acceptance Corporation (CACC) gets its product-financing for consumers who might otherwise be turned away-to the end-user and the dealer. The channels are heavily weighted toward the dealer relationship, but digital tools are clearly becoming a bigger part of the flow.

Nationwide network of automobile dealers (primary channel)

The dealer network is the core delivery mechanism. Credit Acceptance Corporation makes vehicle ownership possible by enabling automobile dealers to sell vehicles to consumers regardless of their credit history. This channel benefits from repeat and referral sales generated by those same customers.

Here are the latest figures on the scale of this primary channel:

• Active dealers during the third quarter of 2025: 10,180.
• New dealers enrolled in the programs during the third quarter of 2025: 1,342.
• The loan portfolio balance as of the third quarter of 2025 averaged $8.0 billion.
• For context, in the second quarter of 2025, the company had 10,655 active dealers and enrolled 1,560 new dealers.

The profitability of the loans is driven by the spread between the forecasted collection rate and the advance rate, which is paid to the dealer at the time of assignment. For the three months ended September 30, 2025, Credit Acceptance Corporation reported trailing 12-month revenue of $2.27B.

Dealer-facing digital platforms (e.g., RouteOne integration)

Credit Acceptance Corporation is actively modernizing its technology stack to improve the dealer experience, which is critical for maintaining volume in a competitive market. They are focusing on making enhancements significantly faster, increasing speed by almost 70% compared to one year ago as of Q3 2025.

The digital evolution in this channel includes:

• A newly launched digital credit application product made generally available to smaller independent dealers.
• In the third quarter of 2025, more than 900 dealers submitted applications using this new digital product.
• Testing a new dealer experience for franchise and large independent dealers that will allow them to work credit applications directly within RouteOne, including enhanced deal structuring.

The company is using these digital tools to capture consumer information across various points, including in-store, websites, and marketing efforts.

Direct-to-consumer digital credit application product

While the primary channel remains dealer-centric, Credit Acceptance Corporation has enhanced its consumer-facing digital capabilities to support the dealer process and improve operational efficiency.

Key consumer digital touchpoints include:

Digital Feature	Metric/Status (Late 2025 Context)
Consumer Mobile Application	Functionality enhanced, contributing to fewer servicing calls.
Mobile Payments	Technology introduced allowing consumers to make payments via personalized text messages without logging in.
Digital Lending Trend (Industry Context)	Smartphone penetration fuels adoption, with 88% of digital lending transactions in 2025 initiated on mobile devices.

The focus here is on frictionless interaction, which helps with operational efficiency, even if the initial credit capture happens through the dealer platform. To be fair, the direct application product mentioned is primarily a tool for dealers to capture consumer data across channels.

Company website and investor relations portal

These channels serve stakeholders, including investors, regulators, and potential dealers or consumers seeking information.

The main corporate website is www.creditacceptance.com.

For financial transparency and stakeholder communication, the Investor Relations portal is a key channel, hosting official filings and earnings call information, such as the Q3 2025 Earnings Call Transcript.

• As of September 30, 2025, Credit Acceptance Corporation reported a trailing 12-month revenue of $2.27B.
• As of October 23, 2025, the stock price was $499.90, with a market capitalization of $5.62B.

Finance: draft 13-week cash view by Friday.

Credit Acceptance Corporation (CACC) - Canvas Business Model: Customer Segments

You're looking at the core groups Credit Acceptance Corporation (CACC) serves to make its business run. It's a tight ecosystem, really, built around dealers and the specific credit profile of the end borrower.

Automobile Dealers (Franchise and Independent)

Automobile dealers are the primary channel for Credit Acceptance Corporation's loan originations. They use the financing programs to move inventory that would otherwise sit unsold. The relationship is transactional but deep, as dealers rely on the platform to serve a segment of the market they couldn't otherwise touch.

Here are some recent figures showing the scale of this dealer network:

Metric	Q3 2025 Data	Q2 2025 Data	Q1 2025 Data
Active Dealers	10,180	10,655	10,789
New Dealers Enrolled (Quarter)	1,342	1,560	1,617

Looking back at the growth in the dealer base, you see a clear trend of expansion, though it seems to have moderated recently:

• Active Dealers in 2024 (highest level): 15,463
• Dealer Enrollments in 2024: 6,088
• Dealer Enrollments in 2023: 5,605
• Dealer Enrollments in 2022: 3,627

The company also recently announced the completion of a $500.0 Million Asset-Backed Financing in November 2025, which helps support the capital needed for these dealer transactions.

Subprime Consumers with Challenging or No Credit History

This is the core consumer segment. Credit Acceptance Corporation enables dealers to sell vehicles to consumers regardless of their credit history, targeting the estimated 55% of adults with other-than-prime credit. These are folks who need a vehicle for essential needs, like getting to work.

The portfolio reflects this focus. As of the third quarter of 2025, the average balance of the loan portfolio stood at $8.0 billion. This is up from $7.9 billion in Q1 2025, though Q2 2025 saw a record high of $9.1 billion on an adjusted basis. The company's market share in the used vehicle subprime segment for the first five months of 2025 was 5.4%.

The origination volume shows some recent pressure compared to the prior year:

• Consumer Loan assignment unit volume decline (Q3 2025 vs Q3 2024): 16.5% decline
• Consumer Loan assignment dollar volume decline (Q3 2025 vs Q3 2024): 19.4% decline

For context on recent activity, Credit Acceptance Corporation financed over 85,000 contracts in Q2 2025 and over 100,000 contracts in Q1 2025.

Consumers Seeking to Rebuild or Establish Credit

This segment is an ancillary benefit of the main product. By reporting to the three national credit reporting agencies, Credit Acceptance Corporation provides these consumers with an opportunity to improve their credit score. This allows them, eventually, to move on to more traditional sources of financing. The company's business model is designed to produce acceptable returns even if loan performance is worse than forecasted, which speaks to the risk inherent in this segment.

Investors in Public Equity (Nasdaq: CACC) and Securitized Debt

The equity investors are interested in the financial performance and stability of the platform. As of September 30, 2025, Credit Acceptance Corporation reported GAAP net income of $108.2 million for the quarter, translating to $9.43 per diluted share. Adjusted net income per diluted share for that same period was $10.28.

For the trailing twelve months ending September 30, 2025, revenue was $2.27B.

The public market sentiment provides a snapshot of investor valuation:

Metric	Value (as of Oct 23, 2025)
Stock Price	$499.90
Market Cap	$5.62B
Shares Outstanding	11M
Analyst Consensus Price Target	$467.5

Debt investors are also key, as evidenced by the recent extension of a $75 million revolving warehouse financing facility to September 30, 2028, with reduced servicing charges.

Finance: draft 13-week cash view by Friday.

Credit Acceptance Corporation (CACC) - Canvas Business Model: Cost Structure

You're looking at the hard costs Credit Acceptance Corporation (CACC) faces to keep the lights on and the funding flowing as of late 2025. These are the necessary drains on the revenue generated from their finance charge spread.

The cost structure is heavily influenced by credit risk management, funding the loan book, and dealer incentives. Here are the concrete figures we see from the latest reports:

Key Quarterly Cost Components (Q3 2025 unless noted):

Cost Component	Reporting Period	Financial Amount (Millions USD)
Dealer Holdback and Accelerated Payments	Q3 2025	$51.9
Contingent Loss for Legal Matters	Q3 2025	$15.0
Contingent Loss for Legal Matters	Q2 2025	$23.4
Provision for Credit Losses Change	Q2 2025	Increased by $16.5

The provision for credit losses is a direct reflection of the risk inherent in the portfolio. For instance, in Q2 2025, the implementation of a forecast adjustment increased the provision for credit losses by $16.5 million. Contrast that with the same period in 2024, where the provision for credit losses decreased by $148.0 million.

Funding the assets is a major cost. While a specific interest expense number isn't isolated here, the scale of the debt funding is clear:

• GAAP average debt for the three months ended June 30, 2025, was $6,583.8 million.
• This represented a 13.2% increase in GAAP average debt compared to the same period in 2024.

Operating expenses cover the day-to-day running of the business, which includes significant technology upgrades. You see this reflected in management commentary:

• Investments are focused on modernizing the loan origination system.
• The speed of delivering enhancements to dealers has increased by almost 70% compared to one year ago (as of Q3 2025).

Legal and regulatory compliance costs are lumpy but material. The contingent loss for legal matters in Q3 2025 was $15.0 million, which Credit Acceptance Corporation excluded from its adjusted results. That follows a $23.4 million contingent loss recognized in Q2 2025 for similar matters. The company notes that regulations could materially affect its business.

Credit Acceptance Corporation (CACC) - Canvas Business Model: Revenue Streams

You're looking at the core engine of Credit Acceptance Corporation's profitability, which is heavily weighted toward the interest and fees generated from its consumer loan portfolio. This is where the majority of the money comes in, plain and simple.

The largest source of revenue is the finance charges derived from the consumer loan portfolio. For the third quarter ended September 30, 2025, finance charges alone reached $539.4 million. This demonstrates the sheer scale of the interest income component relative to the total revenue for that period.

To give you a sense of the overall financial scale as of late 2025, the trailing 12-month revenue for Credit Acceptance Corporation was $2.27 billion. The company's operational success translated into a GAAP net income of $108.2 million for Q3 2025. For the nine months ended September 30, 2025, total revenue was $1,737.3 million, with GAAP net income reaching $301.9 million.

Here's a quick look at the revenue scale for the third quarter of 2025 compared to the nine-month performance:

Metric	Q3 2025 Amount	Nine Months Ended Sept. 30, 2025 Amount
Total Revenue	$582.4 million	$1,737.3 million
Finance Charges (Largest Component)	$539.4 million	Data not explicitly available for nine months
GAAP Net Income	$108.2 million	$301.9 million

The remaining revenue streams, while smaller than finance charges, are still important parts of the Credit Acceptance Corporation model. These streams are composed of premiums earned on reinsurance of vehicle service contracts and other fees and income. The total Q3 2025 revenue of $582.4 million, less the $539.4 million in finance charges, leaves $43.0 million to be distributed between those two categories.

You can break down the revenue streams into these key buckets:

• Finance charges from the consumer loan portfolio (largest source).
• Premiums earned on reinsurance of vehicle service contracts.
• Other fees and income.

For example, within the 'Other fees and income' category, we see concrete transaction-related figures, such as dealer holdback payments, which totaled $51.9 million for the three months ended September 30, 2025. That's a significant flow of funds related to dealer relationships.

Finance is drafting the full 2025 revenue attribution breakdown by Friday.