{"schema_version":"secwatch.filing_event.v1","accession":"0000885550-24-000049","form_type":"8-K","ticker":"CACC","cik":"0000885550","company_name":"CREDIT ACCEPTANCE CORP","filed_at":"2024-04-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:22.298885+00:00","generated_at":"2026-06-04T03:11:39.462256+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 $500M asset-backed non-recourse financing","bullets":["$500M notes issued in 3 classes: A ($298M, 5.68%, 2.35yr), B ($64M, 6.03%, 2.82yr), C ($137M, 6.71%, 3.12yr).","Consumer loans valued at ~$625.2M conveyed to a special purpose trust as collateral.","Expected average annualized cost ~6.4% incl. fees; 24-month revolving period then amortization.","Proceeds used to repay outstanding indebtedness and for general corporate purposes.","Financing is non-recourse to Credit Acceptance; company earns 4% servicing fee, dealers' holdback preserved."],"urls":{"canonical":"https://secwatch.observer/filing/0000885550-24-000049","json":"https://secwatch.observer/filing/0000885550-24-000049.json","markdown":"https://secwatch.observer/filing/0000885550-24-000049.md","text":"https://secwatch.observer/filing/0000885550-24-000049.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/885550/000088555024000049/0000885550-24-000049-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/885550/000088555024000049/cacc-20240328.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T03:11:39.462256+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":"3a159f7da59f52fcd6e03c6fc4cf3c281f2b1509","claim":"CREDIT ACCEPTANCE CORP incurred senior notes of $500.0 million with Computershare Trust Company, N.A. at 5.68% / 6.03% / 6.71%.","evidence_excerpt":"On March 28, 2024, Credit Acceptance Corporation (the \"Company\", \"Credit Acceptance\", \"we\", \"our\", or \"us\") entered into a $500.0 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/885550/000088555024000049/0000885550-24-000049-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$500.0 million"},{"label":"Counterparty","value":"Computershare Trust Company, N.A."},{"label":"Rate","value":"5.68% / 6.03% / 6.71%"},{"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"}