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This company operates within the financial services sector, specifically focusing on indirect automobile financing. It partners with automobile dealerships to provide financing for consumers who may not qualify for traditional bank loans. The core business involves purchasing retail installment contracts from these dealerships. These contracts represent loans made to car buyers, with the dealership selling the loan to First Acceptance Corp. The company's primary revenue stream comes from the interest and fees generated from these financed automobile loans. It caters to a segment of the automotive market that often faces challenges securing credit through conventional channels. This niche allows them to serve a broader customer base looking to purchase vehicles.
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