Credit Acceptance Corporation
Southfield, United States · Finance, Financial Services, Lending
Credit Acceptance Corp. (CACC) is a publicly traded finance company that provides automobile loans. The company focuses on offering auto loans to individuals with limited access to traditional financing options.
Key facts
- Headquarters
- Southfield, United States
- Employees
- 2,500
- Industries
- Finance, Financial Services, Lending
- Status
- Public (CACC)
- Website
- creditacceptance.com
- Company page
Recent activity at Credit Acceptance Corporation
- : SEC 8-K (1.01): On September 17, 2026, Credit Acceptance Corporation entered into separate consent judgments with the office of the attorney general of 40 states and the District of Columbia. These agreements are intended to resolve previously disclosed legal issues faced by the company. Each agreement is subject to final court approval within the relevant jurisdictions, indicating ongoing regulatory compliance efforts and legal risk management. This significant action involves multiple state government agencies and aims to enhance the company's operational framework moving forward.
- : SEC 8-K (5.02): On September 3, 2026, Credit Acceptance Corporation entered into a separation agreement with Jay D. Martin, the former Chief Financial Officer. The agreement allows Mr. Martin to continue providing unsalaried advisory services for approximately 15 hours per month until February 1, 2027. This change reflects the company's management structure post his CFO tenure, which ended on July 27, 2026. The advisory arrangement is intended to facilitate a smooth transition and may impact the strategic direction of financial operations during this period.
- : Credit Acceptance Corporation secures $600 million in asset-backed financing to cover servicing expenses and maintain borrowing capacity.
- : SEC 8-K (1.01): On August 20, 2026, Credit Acceptance Corporation entered into a material definitive agreement involving a $600.0 million asset-backed non-recourse secured financing. This transaction involved the conveyance of consumer loans valued at approximately $750.2 million to a wholly owned special purpose entity, Credit Acceptance Funding LLC 2026-2. The entity issued three classes of notes with specified amounts and interests rates: Class A ($319.88 million at 5.01%), Class B ($117.3 million at 5.29%), and Class C ($162.82 million). This financial restructuring is significant for Credit Acceptance as it enhances their funding capabilities through securitization of consumer loans, impacting their liquidity and financial strategy moving forward.
- : Credit Acceptance Appoints Siddharth Lal as Chief Marketing Officer
- : Credit Acceptance Corporation Announces Chief Technology Officer Resignation
- : SEC 8-K (5.02): On July 20, 2026, Credit Acceptance Corporation announced the resignation of its Chief Technology Officer, Ravi Mohan, effective August 14, 2026, and his separation from the company on October 25, 2026. The company plans to enter into a separation and advisory agreement with Mr. Mohan, which includes terms allowing him to vest in his restricted stock units and stock options that are due to vest on October 24, 2026, provided he executes a general release of claims. This transition reflects the company's ongoing adjustments in leadership to align with strategic goals. Key date to note includes July 20, 2026, the date of the agreement, and the future effective and separation dates in mid to late 2026.
- : Credit Acceptance Corporation Appoints Steffen Schumann as Chief Business Officer
- : Vinayak R. Hegde Appointed as New CEO of Credit Acceptance Corporation
- : SEC 8-K (5.02): On October 25, 2025, Kenneth S. Booth, the Chief Executive Officer and President of Credit Acceptance Corporation, announced his retirement, transitioning to a role as Executive Board Member from November 13, 2025, until January 31, 2026. Concurrently, the Board elected Vinayak R. Hegde, a current Board member, as the new Chief Executive Officer and President, with the appointment becoming effective immediately on October 25, 2025. This change in leadership is significant for the company as it may impact strategic direction and operations during the transition phase. The formal resignation of Mr. Booth will conclude at the end of the Transition Period, allowing for a smooth leadership change.
Credit Acceptance Corporation funding history
| Date | Round | Amount |
|---|---|---|
| Aug 2026 | Venture | $600.0M |
| Feb 2024 | Funding Round | $200.0M |
| Feb 2024 | Funding Round | $100.0M |
| Dec 2023 | Funding Round | $294.0M |
| Dec 2022 | Funding Round | $200.0M |
Leadership
- Ken Booth, CEO
- Ravi Mohan, CTO
- Siddharth Lal, Chief Marketing Officer
- Ravi Mohan, Chief Technology Officer
- Steffen Schumann, Chief Business Officer
- Vinayak R. Hegde, Chief Executive Officer
- Jay Martin, Chief Financial Officer
Verified email and direct lines for Credit Acceptance Corporation’s decision-makers are on Fundz. See plans — or book a 15-minute walkthrough.
Employee benefit plans
Credit Acceptance Corporation files 2 employee benefit plans with the U.S. Department of Labor, including a retirement plan. The next plan year renews in Dec 2026.
Credit Acceptance Corporation in the news
- Credit Acceptance Announces Extension of Revolving Secured - GlobeNewswire (Sep 15, 2026)
- Credit Acceptance Announces Completion Of $600.0 Million Asset-Backed Financing - GlobeNewswire (Aug 20, 2026)
- Credit Acceptance Reaches Resolution With State Attorneys General - GlobeNewswire (Sep 17, 2026)
- Credit Acceptance Corporation (CACC) Share Price Today | Credit Acceptance (CACC) Live NSE/BSE - Value Research (Jun 03, 2022)
- Credit Acceptance Announces Leadership Changes to Advance Digital-First Strategy - GlobeNewswire (Jul 27, 2026)
- Credit Acceptance Named One of PEOPLE Magazine’s 100 Companies That Care® for Fifth Consecutive Year - GlobeNewswire (Aug 13, 2026)
- Credit Acceptance Celebrates Being Named No. 18 on Fortune's 2026 100 Best Companies to Work For® List - GlobeNewswire (Apr 02, 2026)
- Fortune Media and Great Place To Work® Name Credit - GlobeNewswire (Oct 07, 2026)
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About Credit Acceptance Corporation: questions and answers
What does Credit Acceptance Corporation do?
Credit Acceptance Corp. (CACC) is a publicly traded finance company that provides automobile loans. The company focuses on offering auto loans to individuals with limited access to traditional financing options.
Where is Credit Acceptance Corporation headquartered?
Credit Acceptance Corporation is headquartered in Southfield, United States.
How many employees does Credit Acceptance Corporation have?
Credit Acceptance Corporation has about 2,500 employees.
Has Credit Acceptance Corporation raised funding?
Yes. Fundz has recorded 5 funding events for Credit Acceptance Corporation. The most recent, $600.0M, was in Aug 2026.
Who leads Credit Acceptance Corporation?
Ken Booth is a CEO at Credit Acceptance Corporation.
What is the latest news on Credit Acceptance Corporation?
On Sep 17, 2026, SEC 8-K (1.01): On September 17, 2026, Credit Acceptance Corporation entered into separate consent judgments with the office of the attorney general of 40 states and the District of Columbia. These agreements are intended to resolve previously disclosed legal issues faced by the company. Each agreem
Is Credit Acceptance Corporation a public company?
Yes. Credit Acceptance Corporation is publicly traded under the ticker CACC.
Source: Fundz records from SEC filings, press releases and company announcements. How Fundz measures data accuracy