Credit Acceptance reports record 2024 loan assignments of 386,126; portfolio reaches $8.9B

CREDIT ACCEPTANCE CORP

Loan assignment volume in 2024 was 386,126 contracts, a new single-year high; unit and dollar volumes grew 16.1% and 11.3% YoY.
Adjusted loan portfolio balance reached $8.9B, up 15% from 2023 and the largest in company history.
Ten consecutive quarters of growth from March 2022 through September 2024, driven by favorable capital markets and cautious competitors.
Loans originated in 2021-2023 performed significantly worse than initial forecasts but still generated positive Economic Profit due to built-in margins.
Company added over 100 Engineering team members in 2024 and received 13 workplace awards, including Fortune 100 Best Companies to Work For.

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