{"schema_version":"secwatch.filing_event.v1","accession":"0000885550-22-000088","form_type":"8-K","ticker":"CACC","cik":"0000885550","company_name":"CREDIT ACCEPTANCE CORP","filed_at":"2022-11-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:53.860811+00:00","generated_at":"2026-06-22T02:29:05.311593+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Credit Acceptance completes $389.9M asset-backed securitization; notes 6.57%-9.00%","bullets":["$389.9M non-recourse secured financing; $500.1M in loans contributed to trust.","Four note classes: A $151.7M at 6.57%, B $69.8M at 7.52%, C $77.5M at 8.45%, D $90.9M at 9.00%.","Expected annualized cost ~8.5% including fees; 24-month revolving then amortize.","Proceeds used to repay outstanding debt and for general corporate purposes.","Company retains 4.0% of loan cash flows for servicing; 96% pays notes and dealer holdback."],"urls":{"canonical":"https://secwatch.observer/filing/0000885550-22-000088","json":"https://secwatch.observer/filing/0000885550-22-000088.json","markdown":"https://secwatch.observer/filing/0000885550-22-000088.md","text":"https://secwatch.observer/filing/0000885550-22-000088.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/885550/000088555022000088/0000885550-22-000088-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/885550/000088555022000088/cacc-20221103.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-22T02:29:05.311593+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d1c904efcb93f78f16e8f263da10eb5ef74fb022","claim":"CREDIT ACCEPTANCE CORP incurred senior notes of $389.9 million with Computershare Trust Company, N.A. at 8.5% maturing 24 months.","evidence_excerpt":"On November 3, 2022, Credit Acceptance Corporation (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) entered into a $389.9 million asset-backed non-recourse secured financing (the “Financing”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/885550/000088555022000088/0000885550-22-000088-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$389.9 million"},{"label":"Counterparty","value":"Computershare Trust Company, N.A."},{"label":"Rate","value":"8.5%"},{"label":"Maturity","value":"24 months"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}