{"schema_version":"secwatch.filing_event.v1","accession":"0000885550-23-000143","form_type":"8-K","ticker":"CACC","cik":"0000885550","company_name":"CREDIT ACCEPTANCE CORP","filed_at":"2023-12-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.253504+00:00","generated_at":"2026-06-07T07:10:22.961042+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Credit Acceptance closes $294M asset-backed non-recourse financing; 3 tranches","bullets":["Conveyed $375.1M in consumer loans; notes: Class A $158M at 6.13%, B $67.5M at 6.71%, C $68.4M at 7.30%.","Expected average annualized cost ~7.0% including fees; revolving for 24 months then amortizing.","Proceeds to repay existing debt and for general corporate purposes; non-recourse to Credit Acceptance.","Servicing fee of 4.0% of cash flows; remaining 96% (net dealer holdback) pays principal, interest, costs.","Dealer relationships preserved; dealer holdback rights unaffected."],"urls":{"canonical":"https://secwatch.observer/filing/0000885550-23-000143","json":"https://secwatch.observer/filing/0000885550-23-000143.json","markdown":"https://secwatch.observer/filing/0000885550-23-000143.md","text":"https://secwatch.observer/filing/0000885550-23-000143.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/885550/000088555023000143/0000885550-23-000143-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/885550/000088555023000143/cacc-20231221.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T07:10:22.961042+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":"8240f3c3e459e2af858ab8d0c35e55f09b4019b5","claim":"CREDIT ACCEPTANCE CORP incurred senior notes of $294.0 million with Computershare Trust Company, N.A. at 6.13% / 6.71% / 7.30% maturing revolve for 24 months, after which it will amortize.","evidence_excerpt":"On December 21, 2023, Credit Acceptance Corporation (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) entered into a $294.0 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/885550/000088555023000143/0000885550-23-000143-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$294.0 million"},{"label":"Counterparty","value":"Computershare Trust Company, N.A."},{"label":"Rate","value":"6.13% / 6.71% / 7.30%"},{"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"}