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AmeriCredit Corp

 

ACF

AmeriCredit Corp. is an automobile finance company. AmeriCredit purchases auto finance contracts without recourse from franchised and select independent automobile dealerships, and to a lesser extent, make loans directly to customers buying new and used vehicles. Loans include auto finance contracts originated by dealers and purchased by the Company, as well as direct extensions of credit made by it to consumer borrowers. Of the contracts purchased by AmeriCredit, during the fiscal year ended June 30, 2006, approximately 95% were originated by manufacturer franchised dealers and 5% by select independent dealers, and approximately 75% were used vehicles and 25% were new vehicles. The company purchased contracts from over 17,000 dealers during 2006.

 

 

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