Credit Acceptance Corp. Enters Material Definitive Agreement
Ticker: CACC · Form: 8-K · Filed: 2025-09-24T00:00:00.000Z
Sentiment: neutral
Topics: material-agreement, financial-obligation, 8-k
TL;DR
CAC just signed a big deal, creating a new financial obligation. Watch this space.
AI Summary
On September 19, 2025, Credit Acceptance Corp. entered into a material definitive agreement, creating a direct financial obligation. The company, incorporated in Michigan with EIN 381999511, filed an 8-K report detailing this event. The filing also includes other events and financial statements/exhibits.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Credit Acceptance Corp., which could impact its financial structure and future operations.
Risk Assessment
Risk Level: medium — Entering into a material definitive agreement and creating a direct financial obligation can introduce new risks related to the terms of the agreement and the company's ability to meet its obligations.
Key Numbers
- 000-20202 — SEC File Number (Identifies the company's filing history with the SEC.)
- 38-1999511 — IRS Employer Identification No. (Unique identifier for tax purposes.)
Key Players & Entities
- Credit Acceptance Corp. (company) — Registrant
- September 19, 2025 (date) — Date of earliest event reported
- Michigan (jurisdiction) — State of incorporation
- 381999511 (ein) — IRS Employer Identification No.
- 25505 West Twelve Mile Road (address) — Principal executive offices
- Southfield, Michigan (location) — Principal executive offices location
FAQ
What is the nature of the material definitive agreement entered into by Credit Acceptance Corp. on September 19, 2025?
The filing states that Credit Acceptance Corp. entered into a material definitive agreement, which resulted in the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement. Specific details of the agreement are not provided in the excerpt.
What type of financial obligation was created by Credit Acceptance Corp.?
The filing indicates the creation of a 'Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant'.
When was the report filed with the SEC?
The report was filed as of date September 24, 2025.
Where is Credit Acceptance Corp. incorporated and what is its principal executive office address?
Credit Acceptance Corp. is incorporated in Michigan and its principal executive offices are located at 25505 West Twelve Mile Road, Southfield, Michigan 48034-8339.
What are the main items reported in this 8-K filing?
This 8-K filing reports on the Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement, Other Events, and Financial Statements and Exhibits.
Filing Stats: 659 words · 3 min read · ~2 pages · Grade level 10.1 · Accepted 2025-09-24 16:02:15
Key Financial Figures
- $200.0 million — Amendment extends the date on which our $200.0 million revolving secured warehouse facility wi
Filing Documents
- cacc-20250919.htm (8-K) — 29KB
- cacc_8k20250919lsa.htm (EX-4.158) — 1168KB
- cacc_8k20250919pr.htm (EX-99.1) — 7KB
- 0000885550-25-000105.txt ( ) — 1499KB
- cacc-20250919.xsd (EX-101.SCH) — 2KB
- cacc-20250919_lab.xml (EX-101.LAB) — 21KB
- cacc-20250919_pre.xml (EX-101.PRE) — 12KB
- cacc-20250919_htm.xml (XML) — 3KB
01 Entry Into a Material Definitive Agreement
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 September 19, 2025, Credit Acceptance Corporation (the "Company", "Credit Acceptance", "we", "our", or "us") entered into the Fourth Amendment to the Loan and Security Agreement ("Warehouse Amendment"), dated as of September 19, 2025, among the Company, CAC Warehouse Funding LLC VIII, Citizens Bank, N.A., and Computershare Trust Company, N.A. The Warehouse Amendment extends the date on which our $200.0 million revolving secured warehouse facility will cease to revolve from September 21, 2026 to September 19, 2028. The interest rate on borrowings under the facility has been decreased from the Secured Overnight Financing Rate ("SOFR") plus 225 basis points to SOFR plus 185 basis points. There were no other material changes to the terms of the facility. As of September 19, 2025, we did not have a balance outstanding under the facility. The terms and conditions of this transaction are set forth in the agreement attached hereto as Exhibit 4.158 to this Form 8-K and incorporated herein by reference
01 Other Events
Item 8.01 Other Events. On September 19, 2025, we issued a press release regarding this transaction. The press release is attached as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4.158 Fourth Amendment to Loan and Security Agreement dated as of September 19, 2025 by and among the Company, CAC Warehouse Funding LLC VIII, Citizens Bank, N.A., and Computershare Trust Company, N.A 99.1 Press release dated September 19, 2025. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CREDIT ACCEPTANCE CORPORATION Date: September 24, 2025 By: /s/ Jay D. Martin Jay D. Martin Chief Financial Officer