---
schema_version: "secwatch.filing_event.v1"
accession: "0000885550-25-000131"
form_type: "8-K"
ticker: "CACC"
cik: "0000885550"
company_name: "CREDIT ACCEPTANCE CORP"
filed_at: "2025-11-19T23:59:59+00:00"
generated_at: "2026-05-16T18:39:14.471281+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CACC completes $500M asset-backed financing, its 60th term securitization

## Summary
- Issued $500M in three classes of ABS notes: A ($284.6M, 4.50%), B ($104.6M, 4.87%), C ($110.8M, 5.38%).
- Expected average annualized cost of ~5.1% including upfront fees; revolver for 24 months, then amortizes.
- Proceeds used to repay higher-cost debt and for general corporate purposes.
- Company maintains ~$2.0B in unused borrowing capacity and unrestricted cash after closing.
- Treasurer Jay Brinkley noted this is the lowest-cost ABS transaction since late 2021.

## SEC filing metadata
- accession: 0000885550-25-000131
- form_type: 8-K
- ticker: CACC
- cik: 0000885550
- company_name: CREDIT ACCEPTANCE CORP
- filed_at: 2025-11-19T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885550/000088555025000131/0000885550-25-000131-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885550/000088555025000131/cacc-20251113.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885550-25-000131
- JSON: https://secwatch.observer/filing/0000885550-25-000131.json
- Plain text: https://secwatch.observer/filing/0000885550-25-000131.txt

## Key facts
- Debt Financings
  CREDIT ACCEPTANCE CORP incurred debt of $500,000,000 with Credit Acceptance Auto Loan Trust 2025-2 at expected average annualized cost of approximately 5.1% maturing revolve for 24 months after which it will amortize based upon the cash flows on the conveyed loans.
  - Principal: $500,000,000
  - Counterparty: Credit Acceptance Auto Loan Trust 2025-2
  - Rate: expected average annualized cost of approximately 5.1%
  - Maturity: revolve for 24 months after which it will amortize based upon the cash flows on the conveyed loans
  - Event: incurrence
  source text: On November 13, 2025, 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/885550/000088555025000131/0000885550-25-000131-index.htm

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