According to the Complaint, Credit Acceptance Corporation is a subprime auto finance company providing loans and other related financial products that enable automobile dealers to sell vehicles to consumers. In 2019, Credit Acceptance funded about 370,000 subprime auto loans nation-wide of which over 95% were subprime loans. A substantial portion of Credit Acceptance's loans are never repaid. The Company also securitizes and sells its loans to investors.
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