{"schema_version":"secwatch.filing_event.v1","accession":"0000885550-23-000099","form_type":"8-K","ticker":"CACC","cik":"0000885550","company_name":"CREDIT ACCEPTANCE CORP","filed_at":"2023-08-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.875756+00:00","generated_at":"2026-06-11T02:10:17.760303+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Credit Acceptance closes $400M asset-backed secured financing, notes 6.39%-7.62%","bullets":["Conveyed $500.1M consumer loans to trust; issued three note classes totaling $400M.","Class A ($209.4M, 2.44yr avg life, 6.39%), B ($90.6M, 3.06yr, 7.09%), C ($100.0M, 3.47yr, 7.62%).","Expected average annualized cost ~7.3% including fees; 24-month revolving period then amortization.","Proceeds used to repay outstanding debt and for general corporate purposes.","Financing is non-recourse to Credit Acceptance, preserving dealer holdback rights."],"urls":{"canonical":"https://secwatch.observer/filing/0000885550-23-000099","json":"https://secwatch.observer/filing/0000885550-23-000099.json","markdown":"https://secwatch.observer/filing/0000885550-23-000099.md","text":"https://secwatch.observer/filing/0000885550-23-000099.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/885550/000088555023000099/0000885550-23-000099-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/885550/000088555023000099/cacc-20230824.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T02:10:17.760303+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":"a8109e87ed7e85f9914d2f3da297297ee4e15570","claim":"CREDIT ACCEPTANCE CORP incurred senior notes of $400.0 million with Computershare Trust Company, N.A. at 6.39% / 7.09% / 7.62%.","evidence_excerpt":"On August 24, 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/885550/000088555023000099/0000885550-23-000099-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$400.0 million"},{"label":"Counterparty","value":"Computershare Trust Company, N.A."},{"label":"Rate","value":"6.39% / 7.09% / 7.62%"},{"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"}