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  "documentTitle": "Credit Acceptance Corporation (CACC)",
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      "text": "CACC is the only lender in this space that publishes the data to prove when this rolls off.",
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      "text": "CACC's borrowers are not rate-sensitive consumers who panic when the Fed raises 50bps. They have no other option. Demand for subprime auto credit is structurally inelastic.",
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      "kind": "paragraph",
      "text": "Here is what the bears miss: CACC is the only lender in this space that publishes the data to prove when this rolls off. Vintage-by-vintage collection curves. Forecast versus actual.",
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      "text": "Some bears frame CACC as \"not a tech company\" as if that's a risk. The opposite is true. Physical collateral, real-world recovery, dealer relationships, 30 years of performance data — this is exactly the domain where AI improves outcomes.",
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      "text": "Vintage 2021 (Impaired) 6.8% 5.9% -90bps — rolling off; 2022 7.2% 7.1% In-line",
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      "text": "AI-Proof? Try the Opposite.",
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      "text": "The 2021 Vintage Is Aging Off. The Bears Are Fighting the Last War.",
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