secwatch.observer — SEC 8-K summary
======================================

Issuer:     CREDIT ACCEPTANCE CORP (CACC)
CIK:        0000885550
Form:       8-K
Filed at:   2024-04-03T23:59:59+00:00
Accession:  0000885550-24-000050
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Credit Acceptance reports record loan portfolio of $7.0B; volume and spread growth continue
--------------------------------------------------------------------------------

- Loan portfolio reached $7.0B at year-end 2023 (highest ever); unit and dollar volumes grew 18.6% and 14.4%.
- Initial spread on 2023 assignments increased to 21.3% from 20.1% in 2022; seven consecutive quarters of growth.
- Secured $700M in new asset-backed financing; $1.4B unused capacity under revolving facilities as of March 31, 2024.
- Since 1999, repurchased approximately 40.4 million shares; $1B in senior notes outstanding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000050/0000885550-24-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000050/cacc-20240403.htm
  HTML page:      https://secwatch.observer/filing/0000885550-24-000050

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer