Credit Acceptance (CACC) Message Board

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Non-Tech : Credit Acceptance (CACC)

CACC 448.91

+4.5%

1:01 PM EST

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To: Sniper who wrote (18)	10/30/1997 12:47:00 PM
From: Sniper	Read Replies (1) of 103

The company has lots of debt?? Because they BUY DEBT for pennies on the dollar and collect for triple what they paid. CACC is not a financing company. They are a premier COLLECTIONS agency. They are not MFN or CTYS giving out auto loans.. banks and instituions go to these guys to cash in on uncollectable debt and CACC goes after the deadbeats.. nicely.. and makes big $$.. Guys, they took a $60 million charge to increase their credit loss RESERVE. This makes it an asset... yes, $60 million in CASH sitting in reserve! Geez... talk about undervalued! The company is even stronger now! Loaded to the hilt at 6. Snipe'

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