{"schema_version":"secwatch.filing_event.v1","accession":"0000885550-26-000185","form_type":"8-K","ticker":"CACC","cik":"0000885550","company_name":"CREDIT ACCEPTANCE CORP","filed_at":"2026-08-25T20:03:47+00:00","discovered_at":"2026-08-25T20:05:00.547210+00:00","generated_at":"2026-08-25T20:05:07.714417+00:00","sec_items":["1.01","2.03","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Credit Acceptance closes $600M ABS securitization, repaying higher-cost debt","bullets":["Conveyed ~$750.2M consumer loans to Credit Acceptance Auto Loan Trust 2026-2 in non-recourse financing.","Notes: $319.88M Class A at 5.01%, $117.3M Class B at 5.29%, $162.82M Class C at 5.51%; expected all-in cost ~5.5%.","Revolves 24 months then amortizes; proceeds to repay higher-cost debt and general corporate purposes.","Treasurer Jay Brinkley cites lowest credit spreads since late 2021; higher Treasury rates drove slight cost increase vs May deal.","Post-financing liquidity: ~$1.8B unused revolver capacity plus unrestricted cash."],"urls":{"canonical":"https://secwatch.observer/filing/0000885550-26-000185","json":"https://secwatch.observer/filing/0000885550-26-000185.json","markdown":"https://secwatch.observer/filing/0000885550-26-000185.md","text":"https://secwatch.observer/filing/0000885550-26-000185.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/885550/000088555026000185/0000885550-26-000185-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/885550/000088555026000185/cacc-20260820.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-08-25T20:05:07.714417+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}