---
schema_version: "secwatch.filing_event.v1"
accession: "0000885550-24-000079"
form_type: "8-K"
ticker: "CACC"
cik: "0000885550"
company_name: "CREDIT ACCEPTANCE CORP"
filed_at: "2024-06-26T23:59:59+00:00"
generated_at: "2026-06-01T02:02:23.703366+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Credit Acceptance closes $550M ABS financing, upsizes existing facility by $100M

## Summary
- Completed $550M non-recourse secured ABS (Term ABS 2024-2) with 3 note classes: A $272.4M (5.95%), B $110.3M (6.11%), C $167.3M (6.70%); expected cost ~6.5%.
- Conveyed loans of ~$687.7M into trust; 24-month revolving period then amortizes based on loan cash flows.
- Increased Term ABS 2022-2 from $200M to $300M and extended its revolving period from Dec 2025 to June 2027.
- Proceeds will repay outstanding debt and fund general corporate purposes; financing is non-recourse to Credit Acceptance (limited exceptions).

## SEC filing metadata
- accession: 0000885550-24-000079
- form_type: 8-K
- ticker: CACC
- cik: 0000885550
- company_name: CREDIT ACCEPTANCE CORP
- filed_at: 2024-06-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885550/000088555024000079/0000885550-24-000079-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885550/000088555024000079/cacc-20240620.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885550-24-000079
- JSON: https://secwatch.observer/filing/0000885550-24-000079.json
- Plain text: https://secwatch.observer/filing/0000885550-24-000079.txt

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