---
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"
generated_at: "2026-06-04T03:11:39.462256+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Credit Acceptance closes $500M asset-backed non-recourse financing

## Summary
- $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.

## SEC filing metadata
- 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
- 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/885550/000088555024000049/0000885550-24-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885550/000088555024000049/cacc-20240328.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885550-24-000049
- JSON: https://secwatch.observer/filing/0000885550-24-000049.json
- Plain text: https://secwatch.observer/filing/0000885550-24-000049.txt

## Key facts
- Debt Financings
  CREDIT ACCEPTANCE CORP incurred senior notes of $500.0 million with Computershare Trust Company, N.A. at 5.68% / 6.03% / 6.71%.
  - Instrument: senior notes
  - Principal: $500.0 million
  - Counterparty: Computershare Trust Company, N.A.
  - Rate: 5.68% / 6.03% / 6.71%
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/885550/000088555024000049/0000885550-24-000049-index.htm

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