---
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"
generated_at: "2026-06-22T02:29:05.311593+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Credit Acceptance completes $389.9M asset-backed securitization; notes 6.57%-9.00%

## Summary
- $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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885550-22-000088
- JSON: https://secwatch.observer/filing/0000885550-22-000088.json
- Plain text: https://secwatch.observer/filing/0000885550-22-000088.txt

## Key facts
- Debt Financings
  CREDIT ACCEPTANCE CORP incurred senior notes of $389.9 million with Computershare Trust Company, N.A. at 8.5% maturing 24 months.
  - Instrument: senior notes
  - Principal: $389.9 million
  - Counterparty: Computershare Trust Company, N.A.
  - Rate: 8.5%
  - Maturity: 24 months
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/885550/000088555022000088/0000885550-22-000088-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.