{"schema_version":"secwatch.filing_event.v1","accession":"0000885550-23-000029","form_type":"8-K","ticker":"CACC","cik":"0000885550","company_name":"CREDIT ACCEPTANCE CORP","filed_at":"2023-03-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.394256+00:00","generated_at":"2026-06-17T21:53:20.206691+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 closes $400M asset-backed non-recourse financing with $500.2M loan pool","bullets":["Three classes of notes: A ($209.3M, 6.48%), B ($86.4M, 7.02%), C ($104.3M, 7.71%).","Expected annualized cost of ~7.3% including initial purchasers' fees and other costs.","Financing revolves for 24 months, then amortizes from contributed loan cash flows.","Proceeds used to repay outstanding debt and for general corporate purposes.","Notes are non-recourse to Credit Acceptance, secured by all trust assets."],"urls":{"canonical":"https://secwatch.observer/filing/0000885550-23-000029","json":"https://secwatch.observer/filing/0000885550-23-000029.json","markdown":"https://secwatch.observer/filing/0000885550-23-000029.md","text":"https://secwatch.observer/filing/0000885550-23-000029.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/885550/000088555023000029/0000885550-23-000029-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/885550/000088555023000029/cacc-20230316.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T21:53:20.206691+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":"d943184b1254d74b603d5d6517c007055f777416","claim":"CREDIT ACCEPTANCE CORP incurred senior notes of $400.0 million at expected annualized cost of approximately 7.3% maturing revolve for 24 months after which it will amortize.","evidence_excerpt":"On March 16, 2023, Credit Acceptance Corporation (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) entered into a $400.0 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/885550/000088555023000029/0000885550-23-000029-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$400.0 million"},{"label":"Rate","value":"expected annualized cost of approximately 7.3%"},{"label":"Maturity","value":"revolve for 24 months after which it will amortize"},{"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"}