Media Fact Sheet

Get the facts about AmeriCredit – our business and our industry, our people, our strategy and goals and our customers.

• Our Business and Our Industry
• Financials
• Our Customers
• AmeriCredit People and Places
• Media Contacts

To learn more about our past, read our Company History information or visit our Resources For Investors to find historical financial information.

Our Business and Our Industry

Business Description
AmeriCredit Corp. is a leading independent automobile finance company that provides a full spectrum of auto financing solutions indirectly through auto dealers. Founded in Fort Worth, Texas in 1992, AmeriCredit has over one million customers and more than $15 billion in managed auto receivables.

A Full-Spectrum Auto Finance Company
The auto finance market is highly fragmented with large and small financial institutions offering various financial products. AmeriCredit began as a subprime auto finance company and still conducts the majority of its business in that niche market. (Subprime lenders make loans to consumers who have had a credit issue in their past which disqualifies them from securing loans from prime lenders.) Now, after its acquisitions of Bay View Acceptance Corp. and Long Beach Acceptance Corp., AmeriCredit is a full-spectrum lender providing enhanced financing options to auto dealers and consumers across the credit spectrum.

CNW Market Research estimates the size of AmeriCredit’s target market to be $86 billion annually for used cars and $153 billion for new cars for a total addressable market of approximately $239 billion each year.

AmeriCredit generates about 75 percent of its loans from the used car market, which resells about 36 million autos per year. Sales of new cars fluctuate more than used cars and are more susceptible to economic changes.

Competitive Advantages
AmeriCredit utilizes a proprietary credit scoring system that considers over 200 factors in forecasting credit risk. Early in its development, AmeriCredit made significant investments in technology to provide information critical to decision making. AmeriCredit’s effective combination of information-based technology and innovative risk management techniques have allowed the company to maintain an industry-leading return on managed assets.

In addition to its unique applications of risk management techniques, AmeriCredit also differentiates itself by providing superior customer service to its dealer and consumer customers. Through focused marketing initiatives implemented within the branch network and customer service organization, AmeriCredit continues to apply technology to create innovative practices and solutions that enable the company to maintain significant operating flexibility and provide competitive loan pricing and loan terms.

AmeriCredit’s unique business model has enabled the company to react quickly to changes in market and business conditions and build a unique team-oriented culture that provides superior customer service to dealers and consumers.

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Financials

• Net income of $38 million, $0.31 per share
• Managed loan portfolio of $15.82 billion
• Shareholders' equity of $1.97 billion
• Cash and cash equivalents of $484 million

For the most current financial information, please visit our Investors section.
 
 Loan and Securitization Process
AmeriCredit's branches have built relationships with thousands of automotive dealers to provide auto loans to subprime consumers. Dealers submit loan applications to AmeriCredit, and AmeriCredit reviews and then approves or rejects the applications. When applications are approved and accepted, AmeriCredit funds the loan and the dealer provides the supporting paperwork.

AmeriCredit bundles loans together creating asset-backed securities (ABS), similar to bonds, and sells them to investors in a process called "securitization." The ABS market is very large and an important long-term funding source for AmeriCredit. AmeriCredit earns a "spread," which is the difference between the interest rate AmeriCredit pays the investors and the rate it receives from its borrowers.

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Our Customers

Customer Profile
AmeriCredit serves customers across multiple credit tiers – prime, near-prime and subprime. So, when averaged together, what does an AmeriCredit customer look like on paper? Here are some statistics:

• 7 years at current residence
• 6 years at current job
• Annual household income of $48,000
• Nearly half own homes
• 12 years of history in credit bureau file

• AmeriCredit funds approximately 35,000 contracts per month from a centralized loan processing center in Arlington, Texas 
• Currently services more than 1 million active consumer loans 
• Manages a loan portfolio of more than $15 billion

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AmeriCredit People and Places

Executive Management

• Clifton Morris, Chairman of the Board
• Daniel Berce, President and Chief Executive Officer
• Steven Bowman, Executive Vice President, Chief Credit and Risk Officer
• Chris Choate, Executive Vice President, Chief Financial Officer, Treasurer
• Mark Floyd, Executive Vice President, Co-Chief Operating Officer
• Preston Miller, Executive Vice President, Co-Chief Operating Officer

• Corporate headquarters: Fort Worth, Texas
• Customer service centers:
  • Arlington, Texas
  • Chandler, Ariz.
  • Charlotte, N.C.
  • Peterborough, Ont., Canada

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Media Contacts

If you are a journalist and need information about AmeriCredit, please contact our Media Relations department. We’ll be glad to help you.

You can also write to us at the following address:

AmeriCredit
801 Cherry Street, Suite 3900
Fort Worth, TX 76102

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