{"schema_version":"secwatch.filing_event.v1","accession":"0000885550-23-000122","form_type":"8-K","ticker":"CACC","cik":"0000885550","company_name":"CREDIT ACCEPTANCE CORP","filed_at":"2023-12-04T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.252004+00:00","generated_at":"2026-06-07T19:06:02.343177+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Credit Acceptance closes $200M asset-backed non-recourse financing","bullets":["Conveyed loans worth ~$252M to SPE; three note classes: A ($100.8M at 6.98%), B ($45.1M at 7.81%), C ($54.1M at 8.24%).","Expected average annualized cost ~8.6% including fees; revolving for 24 months then amortizing from loan cash flows.","Proceeds used to repay outstanding indebtedness and for general corporate purposes; Company retains 4% servicing fee.","Financing structured to preserve dealer holdback rights and not affect dealer contractual relationships."],"urls":{"canonical":"https://secwatch.observer/filing/0000885550-23-000122","json":"https://secwatch.observer/filing/0000885550-23-000122.json","markdown":"https://secwatch.observer/filing/0000885550-23-000122.md","text":"https://secwatch.observer/filing/0000885550-23-000122.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/885550/000088555023000122/0000885550-23-000122-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/885550/000088555023000122/cacc-20231130.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T19:06:02.343177+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":"bf6fd698d1537b8e5dfde0c2fdecef8efdeef060","claim":"CREDIT ACCEPTANCE CORP incurred senior notes of $200.0 million with institutional lender at expected average annualized cost of approximately 8.6% maturing revolve for 24 months after which it will amortize.","evidence_excerpt":"On November 30, 2023, Credit Acceptance Corporation (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) entered into a $200.0 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/885550/000088555023000122/0000885550-23-000122-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$200.0 million"},{"label":"Counterparty","value":"institutional lender"},{"label":"Rate","value":"expected average annualized cost of approximately 8.6%"},{"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"}