---
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"
generated_at: "2026-06-07T07:10:22.961042+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Credit Acceptance closes $294M asset-backed non-recourse financing; 3 tranches

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885550-23-000143
- JSON: https://secwatch.observer/filing/0000885550-23-000143.json
- Plain text: https://secwatch.observer/filing/0000885550-23-000143.txt

## Key facts
- Debt Financings
  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.
  - Instrument: senior notes
  - Principal: $294.0 million
  - Counterparty: Computershare Trust Company, N.A.
  - Rate: 6.13% / 6.71% / 7.30%
  - Maturity: revolve for 24 months, after which it will amortize
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/885550/000088555023000143/0000885550-23-000143-index.htm

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