"Congrats on your success. We are also a small independent dealer. Mostly BHPH, very few cash deals (same scenario you described with cash.) We just signed on with CAC. I have a question for you. How are you pricing your vehicles? I was told to take…"
"It has been a while since this was posted. I'm interested in hearing how it's going with Credit Acceptance from some of the people from this discussion.
I'm a very small dealer just signed up with them this week. It took me 3 years of…"
"Good luck. It's a tough business, but once you find your niche, it's a gold mine. As far as individuals being turned off because you are a licensed dealer, you should be able to turn that to your advantage. Explain that in order to be a…"
My rep is Andi White, she seems like a good one although I just signed and am in the process of doing my first deal now so it`s a bit early to tell. I am not sure where you are geographically and I am sure they all have territory`s…"
"You can absolutely make money with CAC if you are willing to commit to the program. I'm a small dealership too. My average down payment was around $600-$1,500 before CAC. My average inventory was probably $1-3.5k acv vehicles. I've never…"
"Thanks Michael for clarifying my post. It sounds like you’re in a good position to make use of CAC. Since you seem to have a better handle on how the program works, let me ask a question. My independent dealership sells less…"
"You do not need customers with good credit at all with CAC.You can make money with CAC with any quality of customer. Each customer is rated based on their credit and other factors, and this determines the advance that you receive. You may…"
There is a lot of good feedback above, both pro and con. I have talked with individuals who say they have negotiated the buy in at $5K or below. I can't confirm this because I have no intentions of using CAC. My…"
"It really takes a committment to the program, but I believe that anybody that is willing to work the program can make it on it. Just be careful with your buying and structure good deals. I've been on the program since around Nov,2011, and…"
"I have been trying to sign up with CAC in my area and my representative is awful. He trys to tell me all the reasons why my dealership cant make it vs selling the actual finance. Anyone know of other people within the company that would be willing…"
"Thank you both Ben and Mary, I did end up signing up with them and am just waiting for everything to pass legal and then start selling. I did plan on attending the off site principal training even though I have been at this for nearly 30…"
"I primarily carry vehicles in the 3-7k acv range, but I have sold several vehicles well above that and made good profits on them with CAC. I sold an 05 Mercedes C230 for around $16k and an 08 BMW 328i for around the same thing, I also sold…"
This group is dedicated to helping existing Credit Acceptance dealers as a medium to share information, resources,tools as well as ask and answer questions. The goal is that by sharing this information best practices will be established in order to help grow your business and succeed with the Guaranteed Credit Approval program.See More
"I have been a CAC dealer on and off since 1989 and have a lot of respect for the company and anyone that has to deal with them.
What everyone has to understand is that in order to do well with CAC, you have to stop thinking of them as a…"
"David I paid the $9500 up front and don't regret it. Option number 2 was not an option at that time, but when you look at option number 2, it will take you a lot longer to get any backend money. It takes a while for you to build up…"
"I was worried about the 2 day training as they did not have electrity the last time I was in that situation. It turned out it was alot of fun with a great deal of group participation. You will lean a great deal about CAC and the sub prime business.…"