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How a Subprime Auto Lender Consumed Detroit With Debt and Turned Its Courthouse Into a Collections Agency

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When Don Foss started his career as a car salesman, he recognized early on that most of his prospective customers had shaky credit, leaving them with few options for financing to buy a vehicle. So in 1972, he started subprime auto lending company Credit Acceptance Corporation to fill that void. He knew lending money…

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