Credit Acceptance Reports Increased Income Featured

By Staff Writer May 07, 2018

Credit Acceptance Corp. announced consolidated net income of $120.1 million for the first quarter, compared to consolidated net income of $93.3 million for the same period in 2017.


Credit Acceptance also reported that consumer contracts assigned in 2009 through 2013 and 2017 have yielded forecasted collection results materially better than the company’s initial estimates, while consumer contracts assigned in 2015 and 2016 have yielded forecasted collection results materially worse than initial estimates.


For consumer contracts assigned in 2014 and 2018, actual results have been close to initial estimates.


For the first quarter, forecasted collection rates declined for consumer contracts assigned in 2015 and 2016 and were generally consistent with expectations at the start of the period for all other assignment years presented.

Last modified on Monday, 07 May 2018 18:29

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