Credit Acceptance (CACC) concentration risks

The company's disclosed concentration profile is narrow — a single geographic exposure tied to its dealer network distribution. The five largest states contained 29.2% of dealers, and the filing flags that significant amounts of consumer loan assignments will continue to be generated by dealers in those states. By disclosed size this is a medium-share geographic exposure, and its character is structural: it reflects where the dealer network has historically been built and where loan origination activity naturally clusters, rather than a deliberate single-market bet or a dependency on any named customer. Because the exposure is framed at the dealer-network level rather than the borrower level, the risk transmission mechanism runs through dealer relationships and state-level regulatory or economic conditions rather than through direct consumer credit geography. A pronounced economic downturn, regulatory change, or dealer attrition concentrated in those five states could compress loan volume more than a nationally diversified portfolio would suggest. That said, the medium-share band indicates this geographic tilt, while meaningful, is not so extreme that the business is critically dependent on any single state or small cluster. The filing discloses no customer, counterparty, or product concentrations to compound the geographic skew. On balance, the disclosed profile is relatively contained: one moderate geographic tilt in dealer distribution, structural in character, with no layered dependency exposures that would amplify the risk in an idiosyncratic way.

For the engine’s reasoning on CACC’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.

Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.