{"schema_version":"secwatch.filing_event.v1","accession":"0000885550-26-000098","form_type":"8-K","ticker":"CACC","cik":"0000885550","company_name":"CREDIT ACCEPTANCE CORP","filed_at":"2026-05-11T20:01:42+00:00","discovered_at":"2026-05-11T20:04:03.457037+00:00","generated_at":"2026-05-11T23:04:27.539218+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Credit Acceptance completes $450M asset-backed financing at ~5.2% cost","bullets":["Conveyed $562.6M of consumer loans as collateral; notes issued in three tranches: $248.75M Class A (4.65%), $91.32M Class B (4.96%), $109.93M Class C (5.28%).","Expected average annualized cost ~5.2% including fees; financing revolves for 24 months then amortizes.","Proceeds to repay higher-cost outstanding debt and for general corporate purposes.","Company receives 4.0% of loan cash flows as servicing fee; 96% used for note payments and dealer holdback.","Financing is non-recourse to Credit Acceptance except for customary rep/indemnity obligations."],"urls":{"canonical":"https://secwatch.observer/filing/0000885550-26-000098","json":"https://secwatch.observer/filing/0000885550-26-000098.json","markdown":"https://secwatch.observer/filing/0000885550-26-000098.md","text":"https://secwatch.observer/filing/0000885550-26-000098.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/885550/000088555026000098/0000885550-26-000098-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/885550/000088555026000098/cacc-20260505.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-11T23:04:27.539218+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":"27dc7c9859534aae2455fef3d36ce93156315362","claim":"CREDIT ACCEPTANCE CORP incurred senior notes of $450.0 million at expected average annualized cost of approximately 5.2% maturing revolve for 24 months after which it will amortize.","evidence_excerpt":"On May 5, 2026, Credit Acceptance Corporation (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) entered into a $450.0 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/885550/000088555026000098/0000885550-26-000098-index.htm","confidence":0.95,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"senior notes"},{"label":"Principal","value":"$450.0 million"},{"label":"Rate","value":"expected average annualized cost of approximately 5.2%"},{"label":"Maturity","value":"revolve for 24 months after which it will amortize"},{"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"}