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Credit Acceptance history
Credit Acceptance company history timeline
In 1972, Credit Acceptance Corporation was founded by Donald Foss, one of the largest used car dealers in the world at that time.
In 1988 Credit Acceptance began to expand the company's dealer base.
In order to fuel further growth, Foss took Credit Acceptance public in June 1992, selling 2.3 million shares and raising $27 million.
Credit Acceptance quickly expanded across the continental United States, gaining licenses in 46 states by 1992.
Revenues rose from $16 million to $25.7 million, while net income passed $12 million in 1993.
In 1994 the company also added a new program to increase its attractiveness to dealers.
The company's profits have also been strong: net income for 1995 was more than $29.5 million.
By 1995, the company had nearly 70 sales representatives and sales agents.
Credit Acceptance's network of participating dealers has been growing quickly as well, nearly doubling in 1996 to almost 5,000 dealers.
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Credit Acceptance competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Citi | 1812 | $74.3B | 210,000 | 1,240 |
| The Vanguard Group | 1975 | $6.9B | 17,600 | 217 |
| Flagstar Bank | 1987 | $1.7B | 3,938 | 147 |
| T. Rowe Price | 1937 | $7.1B | 7,678 | 482 |
| Ally Financial | 1919 | $6.4B | 8,700 | 5 |
| Legg Mason | 1899 | $2.9B | 3,059 | - |
| Piper Jaffray | 1895 | $1.5B | 1,500 | 71 |
| Fifth Third Bank | 1858 | $7.7T | 19,846 | 1,149 |
| M&T Bank | 1856 | $499.3M | 16,840 | 984 |
| Morgan Stanley | 1935 | $3.0B | 68,097 | 1,109 |
Credit Acceptance history FAQs
Zippia gives an in-depth look into the details of Credit Acceptance, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Credit Acceptance. The employee data is based on information from people who have self-reported their past or current employments at Credit Acceptance. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Credit Acceptance. The data presented on this page does not represent the view of Credit Acceptance and its employees or that of Zippia.
Credit Acceptance may also be known as or be related to CREDIT ACCEPTANCE CORP, Credit Acceptance and Credit Acceptance Corporation.