ACC Consumer Finance is an indirect lender in the non-prime automobile finance market. In addition to having a fully-integrated automobile lending platform for the purchase of vehicle secured retail installment contracts from approved franchised and independent dealers; ACC provides approved BHPH dealers a credit line and full service solution program for selling more cars. Key ACC strengths include deep automotive finance knowledge and a unique originations strategy that utilizes judgment underwriting.
Operating out of its corporate headquarters in Doylestown, Pennsylvania, ACC currently purchases contracts originated by dealers in Pennsylvania, New Jersey, North Carolina, South Carolina and California.
Current economic conditions are still driving more former prime consumers into the non–prime or sub-prime borrower category. These former prime consumers are not the normal non–prime or sub-prime consumer. These borrowers have become non–prime or sub-prime as a result of now having a lower FICO score; in part due to a short sale or mortgage modification. Most of their other credit still looks like prime credit. There is a “perfect credit storm” of opportunity – thousands more non–prime or sub-prime auto buyers. 2015 vehicle sales reached all-time highs and continue remain strong throughout 2016.
The auto finance market is an $800 billion annual industry with ninety percent (90%) of the autos sold at dealerships having the financing arranged at the dealership. ACC believes their non–prime and sub-prime auto finance programs affords ACC the opportunity to participate in one of the fastest growing auto finance industry markets since 2006.
How We Collect and Evaluate Data
Our Loan Management System captures customer information gathered from our point of sale customer relationships and serviced receivables throughout the life of our relationship with the dealer and the customer. Data gathered includes customer credit behavior and payment patterns. By combining and storing such information, we establish an analytical database linking “static” historical data with “dynamic” actual customer performance. Our portal interfaces and business intelligence tools allows ACC management to access and analyze information on demand.
We believe the information we collect in our, owned and not licensed, Loan Management System, as well as the ability we have to access, study and model this information, provides us with a more efficient and complete process to effectively price our lending programs and our loan portfolio acquisitions.