AmeriCredit Corp. · Fort Worth, TX United States ·(NYSE: ACF)

AmeriCredit gives credit where it's not necessarily due. The company purchases loans made by more than 17,000 franchised and selected independent auto dealers primarily to consumers with less-than-ideal credit histories. It typically finances low-mileage, late-model used cars (about 80% of all loans), and the occasional new automobile. The company then periodically transfers its loans to securitization trusts, retains the servicing, and reinvests the proceeds in new loans. The lender has more than 1 million customers and approximately $15 billion in managed auto receivables. It operates about 25 branches in the US. Investment firm Leucadia owns more than 20% of AmeriCredit. To read the full description, subscribe now.