Primary Business: Sub-prime auto lending
Description: AmeriCredit provides automobile financing primarily to borrowers who have experienced poor credit or have limited credit histories. They are able to charge higher interest for the additional risk they assume. They purchase loans made by more than 17,000 franchised and independent auto dealers. They have over 1 million customers and manage approximately $15 billion in managed auto receivables.
Sales: $ 2.5 Billion (2008)
Employees: 4,831 (2007)
Home Office: Ft. Worth, TX
It’s all about expertise.
The public accounting firms have their experts but they tend to staff their projects with people with varying degrees of knowledge whereas Ashland staffs your job with the experts. They have people that achieved a relatively high level within the states or the IRS in various capacities and knew the current people in place and had the relationships. That was important.
We have had several engagements with them. I brought them in as a matter of good practice. If there is anything that I’ve forgotten or is out there, I want to know. I’ve had my federal returns looked at by several of the Big 4 accounting firms but Ashland had some unique opportunities. I felt that their attention to what is the best thing for my company overrode what would have been the best thing for them from a fee perspective.
I was very, very pleased with what they brought to the table.