Subprime lender CAC looks to expand credit reach
The lender’s originations declined 22.1% YoY in Q1
Credit Acceptance Corp. (CAC) is expanding its credit box following a pullback in demand for subprime loans in 2021 due to elevated vehicle prices and limited inventory. Contracts tied to consumers with better credit scores accounted for 15% of the subprime lender’s volume in Q1 2022, Chief Executive Ken Booth said Monday during the earnings […]
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