---
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"
generated_at: "2026-06-11T02:10:17.760303+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Credit Acceptance closes $400M asset-backed secured financing, notes 6.39%-7.62%

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885550-23-000099
- JSON: https://secwatch.observer/filing/0000885550-23-000099.json
- Plain text: https://secwatch.observer/filing/0000885550-23-000099.txt

## Key facts
- Debt Financings
  CREDIT ACCEPTANCE CORP incurred senior notes of $400.0 million with Computershare Trust Company, N.A. at 6.39% / 7.09% / 7.62%.
  - Instrument: senior notes
  - Principal: $400.0 million
  - Counterparty: Computershare Trust Company, N.A.
  - Rate: 6.39% / 7.09% / 7.62%
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/885550/000088555023000099/0000885550-23-000099-index.htm

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