{"schema_version":"secwatch.filing_event.v1","accession":"0000885550-23-000059","form_type":"8-K","ticker":"CACC","cik":"0000885550","company_name":"CREDIT ACCEPTANCE CORP","filed_at":"2023-06-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.610420+00:00","generated_at":"2026-06-14T10:04:22.147600+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Credit Acceptance closes $400M asset-backed non-recourse secured financing","bullets":["Contributed loans valued at ~$500.1M to special purpose entity Funding 2023-2.","Issued three note classes: $210.6M A (5.92%, 2.44yr avg life), $86.1M B (6.61%, 3.06yr), $103.3M C (7.15%, 3.47yr).","Expected average annualized cost of ~6.8% including initial purchasers' fees.","Financing revolves for 24 months then amortizes from loan cash flows.","Proceeds to repay outstanding indebtedness and for general corporate purposes."],"urls":{"canonical":"https://secwatch.observer/filing/0000885550-23-000059","json":"https://secwatch.observer/filing/0000885550-23-000059.json","markdown":"https://secwatch.observer/filing/0000885550-23-000059.md","text":"https://secwatch.observer/filing/0000885550-23-000059.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/885550/000088555023000059/0000885550-23-000059-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/885550/000088555023000059/cacc-20230525.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T10:04:22.147600+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":"e815a77267b6f7349faa5691db85d37d4211ab56","claim":"CREDIT ACCEPTANCE CORP incurred debt of $400.0 million at 6.8% maturing 24 months.","evidence_excerpt":"On May 25, 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/885550/000088555023000059/0000885550-23-000059-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Principal","value":"$400.0 million"},{"label":"Rate","value":"6.8%"},{"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"}