Credit Acceptance reports record loan portfolio of $7.0B; volume and spread growth continue

CREDIT ACCEPTANCE CORP

Loan portfolio reached $7.0B at year-end 2023 (highest ever); unit and dollar volumes grew 18.6% and 14.4%.
Initial spread on 2023 assignments increased to 21.3% from 20.1% in 2022; seven consecutive quarters of growth.
Secured $700M in new asset-backed financing; $1.4B unused capacity under revolving facilities as of March 31, 2024.
Since 1999, repurchased approximately 40.4 million shares; $1B in senior notes outstanding.

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