Credit Acceptance Corp. Files 8-K on Material Definitive Agreement

Ticker: CACC · Form: 8-K · Filed: 2025-04-02T00:00:00.000Z

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation

TL;DR

Credit Acceptance Corp. signed a big deal on 3/27, filing it today.

AI Summary

On March 27, 2025, Credit Acceptance Corp. entered into a material definitive agreement related to a financial obligation. The company, incorporated in Michigan, filed this 8-K report on April 2, 2025, detailing the event which occurred on March 27, 2025.

Why It Matters

This filing indicates a significant financial event for Credit Acceptance Corp., potentially impacting its debt structure or funding arrangements.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new financial obligations or risks for a company.

Key Players & Entities

FAQ

What specific type of material definitive agreement did Credit Acceptance Corp. enter into?

The filing indicates an 'Entry into a Material Definitive Agreement' and 'Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant' but does not specify the exact nature of the agreement in the provided text.

What is the exact date of the reported event?

The earliest event reported occurred on March 27, 2025.

When was this 8-K form filed with the SEC?

This 8-K form was filed as of April 2, 2025.

What is Credit Acceptance Corp.'s principal executive office address?

The principal executive offices are located at 25505 West Twelve Mile Road, Southfield, Michigan 48034-8339.

What is Credit Acceptance Corp.'s IRS Employer Identification Number?

The IRS Employer Identification Number for Credit Acceptance Corp. is 38-1999511.

From the Filing

0000885550-25-000035.txt : 20250402 0000885550-25-000035.hdr.sgml : 20250402 20250402160230 ACCESSION NUMBER: 0000885550-25-000035 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 20 CONFORMED PERIOD OF REPORT: 20250327 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250402 DATE AS OF CHANGE: 20250402 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CREDIT ACCEPTANCE CORP CENTRAL INDEX KEY: 0000885550 STANDARD INDUSTRIAL CLASSIFICATION: PERSONAL CREDIT INSTITUTIONS [6141] ORGANIZATION NAME: 02 Finance EIN: 381999511 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20202 FILM NUMBER: 25804230 BUSINESS ADDRESS: STREET 1: 25505 WEST TWELVE MILE ROAD CITY: SOUTHFIELD STATE: MI ZIP: 48034-8334 BUSINESS PHONE: 2483532700 MAIL ADDRESS: STREET 1: 25505 WEST TWELVE MILE ROAD CITY: SOUTHFIELD STATE: MI ZIP: 48034-8334 FORMER COMPANY: FORMER CONFORMED NAME: CREDIT ACCEPTANCE CORPORATION DATE OF NAME CHANGE: 19930328 8-K 1 cacc-20250327.htm 8-K cacc-20250327 0000885550 false 0000885550 2025-03-27 2025-03-27 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported):   March 27, 2025 CREDIT ACCEPTANCE CORP ORATION (Exact name of registrant as specified in its charter) Michigan 000-20202 38-1999511 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)    25505 West Twelve Mile Road Southfield, Michigan 48034-8339   (Address of principal executive offices) (Zip Code) Registrant’s telephone number, including area code:   ( 248 ) 353-2700 Not Applicable (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, $.01 par value CACC The Nasdaq Stock Market Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Item 1.01 Entry into a Material Definitive Agreement. The information set forth below under Item 2.03 is hereby incorporated by reference into this Item 1.01. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On March 27, 2025, Credit Acceptance Corporation (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) entered into a $400.0 million asset-backed non-recourse secured financing (the “Financing”). Pursuan

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