Regional Acceptance Corp

What Regional Acceptance Corp does

Regional Acceptance Corporation is a national indirect auto finance company that originates and services sub-prime and near-prime automotive loans, and additionally purchases prime-to-near-prime auto loan portfolios from other lenders. Headquartered in Greenville, South Carolina and domiciled in North Carolina, the company operates 12 regional business centers and 4 customer service centers serving customers and dealers across 42 states, underwriting and funding dealer-submitted applications through local decision-making rather than centralized credit policy. As an affiliate of Truist Financial Corporation (NYSE: TFC), Regional Acceptance is backed by the capital base of one of the largest US financial holding companies, formed through the 2019 merger of BB&T and SunTrust.

The company's product surface is centered on borrower servicing and dealer-facing financing flows. Customer-facing technology includes the RAC Auto mobile application on iOS and Android with biometric authentication (Touch ID and Face ID), the web-based Payment Portal, Auto Pay for recurring drafts, and the Promise to Pay program for payment flexibility, with payment acceptance spanning ACH, card networks, phone, mail, and third-party money transfer services (Western Union and MoneyGram). Dealers interact with Regional Acceptance through 12 regional business centers that provide local underwriting and quick funding, complemented by the Truist Dealer Financial Services unit and the Portfolio Acquisition Group. The company is licensed under NMLS Consumer Access ID# 1104859 and holds state-level consumer installment and regulatory lending licenses in South Carolina, Illinois, Michigan, and Virginia, among others.

Revenue is generated primarily through interest income on originated and purchased auto loan receivables, distributed across a high-volume, low-ticket individual borrower base referred through dealer relationships. The go-to-market is structurally indirect — dealers originate customer applications, Regional Acceptance underwrites and funds, and the borrower is serviced through the company's own digital and call-center channels. Add-on revenue includes GAP coverage offered through the Credit Education Center, while the educational partnership with EverFi (Truist Financial Foundations Program) functions as a borrower engagement and retention layer rather than a revenue stream. The company employs 501-1,000 staff and does not disclose specific interest rates or loan terms publicly, with pricing set borrower-by-borrower based on individual creditworthiness.

Name

Regional Acceptance Corp

Legal name

Regional Acceptance Corporation

Website

https://regionalacceptance.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Regional Acceptance Corporation is a US indirect auto finance company that originates and services sub-prime and near-prime automotive loans through dealer partnerships across 42 states, and is an affiliate of Truist Financial Corporation.

Ownership category

akta.pro rank

Headquarters

HQ city

Greenville

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Auto Loan Interest: Regional Acceptance Corporation generates revenue primarily through interest charges on sub-prime and near-prime auto loans. The company originates and services automotive financing contracts for borrowers who may not qualify for prime lending rates.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Regional Acceptance Corporation is an indirect auto finance company that originates sub-prime and near-prime automotive installment loans through partnerships with automotive dealerships across 42 states. The company also purchases prime-to-near-prime auto loan portfolios from other lenders. Loan servicing is supported by the RAC Auto mobile app, an online Payment Portal, Auto Pay enrollment, and a Promise to Pay flexibility program, with 12 regional business centers and 4 customer service centers providing local underwriting and borrower support.

Product overview

Regional Acceptance Corporation is a national auto finance company with over 40 years of lending experience, specializing in indirect sub-prime and near-prime automotive financing. As an affiliate of Truist Financial Corporation, it offers a unified suite of account management and payment products centered around the RAC Auto® App (mobile application) and Payment Portal (web platform), complemented by Auto Pay for recurring payments. The core customer-facing products enable account management, payments, statements, and financial education throughout the auto loan lifecycle. Dealer services include financing programs and portfolio acquisition through Truist Dealer Financial Services. The company operates 12 regional business centers and 4 customer service centers across 42 states.

Differentiator

Problem solved

Functional benefit

Brands

• RAC Auto: Mobile application for managing auto finance accounts, making payments, and accessing account details.

Products and services

• Indirect Sub-Prime and Near-Prime Auto Finance Lending Indirect automotive installment financing for sub-prime and near-prime consumers, originated through automotive dealer partnerships across 42 states. Features local underwriting, flexible deal structuring, and quick funding via 12 regional business centers, with loan servicing supported through mobile, online, phone, mail, and third-party payment channels.
• Auto Loan Portfolio Acquisitions Purchase of prime-to-near-prime automobile loan portfolios from other lenders, backed by Truist's capital strength and stability. Supports other lenders seeking portfolio liquidity or exit from sub-prime auto exposure.
• RAC Auto Mobile App Native mobile application for iOS and Android that lets Regional Acceptance auto loan customers manage accounts, make one-time and recurring payments, view statements, update contact information, enroll in paperless statements, and access biometric authentication (Touch ID and Face ID).
• Online Payment Portal Web-based account management platform that lets customers schedule one-time or recurring payments, view account information and statements, and manage account settings through a browser, supported by ACH and card payment rails.
• Auto Pay Recurring automatic payment service that deducts the customer's specified payment amount from their bank account on the selected draft date each month, with no enrollment fees, available via RAC Auto app, Payment Portal, or phone.
• Promise to Pay Payment flexibility program for eligible customers who are unable to make their monthly auto loan payments, offering options to help avoid late payments and default.
• Truist Dealer Financial Services Dealer-facing financial services combining Truist Dealer Finance (dedicated, market-specific lender relationships for auto dealers) and the Portfolio Acquisition Group (purchasing auto loan portfolios), delivered with responsive expert service backed by Truist's strength and stability.
• GAP Coverage Guaranteed Asset Protection (GAP) coverage that bridges the gap between a vehicle's market value and the outstanding loan balance if the car is totaled or stolen, protecting borrowers from owing money on a vehicle they no longer have.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

One partnership is on record.

• EverFiminorStrategic or Co-development PartnerRegional Acceptance partners with EverFi to provide the Truist Financial Foundations Program, offering free interactive financial education courses to help customers make informed financial decisions. This educational content covers topics relevant to borrowing and credit management.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Westlake Financial Services: Indirect subprime and prime auto lender with nationwide dealer relationships and a portfolio-acquisition franchise; directly overlaps RAC's lending focus and program design.
• Credit Acceptance Corporation: Public subprime indirect auto lender originating through US dealer networks; directly comparable to RAC's subprime dealer-channel model, with a similarly mature portfolio and dealer-finance footprint.
• Exeter Finance Corp: Subprime-to-prime indirect auto lender with national dealer-network origination; comparable in target borrower segment, indirect-channel GTM, and portfolio-acquisition activity.
• Santander Consumer USA: Major US subprime and near-prime indirect auto lender with deep dealer relationships and a national footprint; the closest scale competitor to RAC's underwriting and dealer-funding model.

Broad incumbents

• Ally Financial Inc. Large publicly traded US bank/auto finance company with a sizable consumer auto portfolio and dealer-floorplan exposure; overlaps RAC's auto-credit domain but as part of a much broader deposit-funded franchise.
• GM Financial: Captive auto lender for GM with national indirect lending including subprime exposure; comparable capability set to RAC at scale but tied to a manufacturer and dealer-marketing program.
• Capital One Auto Finance: National auto lender originating through dealer and direct channels across multiple credit tiers; comparable to RAC on indirect dealer financing scale but operates from a broader consumer-banking platform.
• Chrysler Capital (Stellantis Financial Services): Captive indirect auto lender supporting Stellantis dealers with multi-tier credit programs including subprime; comparable indirect-channel mechanics to RAC, but with captive brand positioning.
• JPMorgan Chase Auto Finance: Top-tier US bank with material indirect and direct auto lending; competes with RAC for prime and near-prime dealer-originated volume, though its subprime penetration is far smaller than RAC's.

Others

• TRUIST Auto Finance (Truist parent division): Auto-dealer finance arm of Truist, RAC's parent; provides dealer-floorplan, indirect lending, and portfolio acquisition activity that overlaps the same dealer-channel ecosystem RAC serves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Regional Acceptance Corp