---
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"
generated_at: "2026-05-11T23:04:27.539218+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Credit Acceptance completes $450M asset-backed financing at ~5.2% cost

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885550-26-000098
- JSON: https://secwatch.observer/filing/0000885550-26-000098.json
- Plain text: https://secwatch.observer/filing/0000885550-26-000098.txt

## Key facts
- Debt Financings
  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.
  - Instrument: senior notes
  - Principal: $450.0 million
  - Rate: expected average annualized cost of approximately 5.2%
  - Maturity: revolve for 24 months after which it will amortize
  - Event: incurrence
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/885550/000088555026000098/0000885550-26-000098-index.htm

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