---
schema_version: "secwatch.filing_event.v1"
accession: "0000885550-23-000054"
form_type: "8-K"
ticker: "CACC"
cik: "0000885550"
company_name: "CREDIT ACCEPTANCE CORP"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:48:55.423033+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Credit Acceptance extends $400M warehouse facility to 2026, switches to SOFR+230bps

## Summary
- Facility maturity extended from April 30, 2024 to April 30, 2026.
- Interest rate changed from LIBOR+175bps to SOFR+230bps; no other material changes.
- Outstanding borrowings under the facility were $201.0 million as of April 28, 2023.
- Facility size remains $400.0 million revolving secured warehouse line with Wells Fargo.
- Amendment entered on April 28, 2023; press release issued the same day.

## SEC filing metadata
- accession: 0000885550-23-000054
- form_type: 8-K
- ticker: CACC
- cik: 0000885550
- company_name: CREDIT ACCEPTANCE CORP
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885550/000088555023000054/0000885550-23-000054-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885550/000088555023000054/cacc-20230428.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885550-23-000054
- JSON: https://secwatch.observer/filing/0000885550-23-000054.json
- Plain text: https://secwatch.observer/filing/0000885550-23-000054.txt

## Key facts
- Debt Financings
  CREDIT ACCEPTANCE CORP amended credit facility with Wells Fargo Bank, National Association at SOFR plus 230 basis points maturing April 30, 2026.
  - Instrument: credit facility
  - Counterparty: Wells Fargo Bank, National Association
  - Rate: SOFR plus 230 basis points
  - Maturity: April 30, 2026
  - Event: amendment
  source text: On April 28, 2023, Credit Acceptance Corporation (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) entered into Amendment No. 1 to the Seventh Amended and Restated Loan and Security Agreement dated as of April 28, 2023, among the Company, CAC Warehouse Funding LLC II, and Wells Fargo Bank, National Association. The maturity of the facility was also extended from April 30, 2024 to April 30, 2026. The interest rate on borrowings under the facility has increased from LIBOR plus 175 basis points to Secured Overnight Financing Rate (“SOFR”) plus 230 basis points.
  evidence_url: https://www.sec.gov/Archives/edgar/data/885550/000088555023000054/0000885550-23-000054-index.htm

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