Credit Acceptance Corp. Files 8-K on Financial Obligation
Ticker: CACC · Form: 8-K · Filed: 2025-11-19T00:00:00.000Z
Sentiment: neutral
Topics: debt, filing, financial-obligation
TL;DR
CAC just filed an 8-K about a new financial obligation - check the details.
AI Summary
On November 13, 2025, Credit Acceptance Corp. entered into a material definitive agreement related to a financial obligation. The company, incorporated in Michigan with its principal executive offices in Southfield, filed this 8-K report with the SEC.
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 — The filing concerns a material definitive agreement and a direct financial obligation, which could carry inherent risks depending on the specifics of the agreement.
Key Numbers
- 20251113 — Report Date (The earliest event reported in the filing occurred on this date.)
- 20251119 — Filing Date (The date the 8-K report was officially filed with the SEC.)
Key Players & Entities
- Credit Acceptance Corp. (company) — Registrant
- November 13, 2025 (date) — Date of earliest event reported
- Southfield, Michigan (location) — Principal executive offices location
- 000-20202 (other) — Commission File Number
- 38-1999511 (other) — IRS Employer Identification No.
FAQ
What specific type of material definitive agreement did Credit Acceptance Corp. enter into?
The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the agreement are not provided in this excerpt.
What is the nature of the financial obligation created?
The filing states the creation of a 'Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant,' but the exact nature and terms are not detailed in this summary.
What is Credit Acceptance Corp.'s primary business?
Credit Acceptance Corp. is classified under 'PERSONAL CREDIT INSTITUTIONS [6141]'.
Where are Credit Acceptance Corp.'s principal executive offices located?
The principal executive offices are located at 25505 West Twelve Mile Road, Southfield, Michigan 48034-8339.
What is the SEC Act under which this report is filed?
This report is filed pursuant to the Securities Exchange Act of 1934.
Filing Stats: 1,656 words · 7 min read · ~6 pages · Grade level 11.9 · Accepted 2025-11-19 16:02:51
Key Financial Figures
- $500.0 million — ", "we", "our", or "us") entered into a $500.0 million asset-backed non-recourse secured finan
- $625.2 million — r loans having a value of approximately $625.2 million to a wholly owned special purpose entit
Filing Documents
- cacc-20251113.htm (8-K) — 53KB
- cacc_8k20251113ia.htm (EX-4.159) — 733KB
- cacc_8k20251113bsa.htm (EX-4.160) — 168KB
- cacc_8k20251113aria.htm (EX-4.161) — 273KB
- cacc_8k20251113sca.htm (EX-4.162) — 155KB
- cacc_8k20251113arta.htm (EX-4.163) — 456KB
- cacc_8k20251113ssa.htm (EX-4.164) — 978KB
- cacc_8k20251113pr.htm (EX-99.1) — 22KB
- 0000885550-25-000131.txt ( ) — 3406KB
- cacc-20251113.xsd (EX-101.SCH) — 2KB
- cacc-20251113_lab.xml (EX-101.LAB) — 21KB
- cacc-20251113_pre.xml (EX-101.PRE) — 12KB
- cacc-20251113_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 November 13, 2025, Credit Acceptance Corporation (the "Company", "Credit Acceptance", "we", "our", or "us") entered into a $500.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed consumer loans having a value of approximately $625.2 million to a wholly owned special purpose entity, Credit Acceptance Funding LLC 2025-2 ("Funding 2025-2"), which transferred those consumer loans to a trust, which issued three classes of notes: Note Class Amount Average Life Price Interest Rate A $ 284,610,000 2.58 years 99.97705 % 4.50 % B $ 104,570,000 3.33 years 99.98397 % 4.87 % C $ 110,820,000 3.70 years 99.98573 % 5.38 % The Financing will: have an expected average annualized cost of approximately 5.1% including upfront fees and other costs; revolve for 24 months after which it will amortize based upon the cash flows on the conveyed loans; and be used by us to repay higher cost outstanding indebtedness and for general corporate purposes. We will receive 4.0% of the cash flows related to the underlying consumer loans as a servicing fee to cover our servicing expenses. The remaining 96.0%, less amounts due to dealers for payments of dealer holdback, will be used to pay principal and interest on the notes as well as the ongoing costs of the Financing. The Financing is structured so as not to affect our contractual relationships with dealers and to preserve the dealers' rights to future payments of dealer holdback. The notes have not been and will not be registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirem
01 Other Events
Item 8.01 Other Events. On November 13, 2025, we issued a press release regarding the Financing. The press release is attached as Exhibit 99.1 to this Current Report on 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. 1 59 Indenture, dated as of November 13, 2025, between Credit Acceptance Auto Loan Trust 2025-2 and Computershare Trust Company, N.A. 4.1 6 0 Backup Servicing Agreement, dated as of November 13, 2025, among the Company, Credit Acceptance Funding LLC 2025-2, Credit Acceptance Auto Loan Trust 2025-2, and Computershare Trust Company, N.A. 4.1 6 1 Amended and Restated Intercreditor Agreement dated November 13, 2025, among the Company, CAC Warehouse Funding LLC II, CAC Warehouse Funding LLC IV, CAC Warehouse Funding LLC V, CAC Warehouse Funding LLC VI, CAC Warehouse Funding LLC VIII, Credit Acceptance Funding LLC 2025-2, Credit Acceptance Funding LLC 2025-1, Credit Acceptance Funding LLC 2024-B, Credit Acceptance Funding LLC 2024-3, Credit Acceptance Funding LLC 2024-2, Credit Acceptance Funding LLC 2024-1,Credit Acceptance Funding LLC 2024-A, Credit Acceptance Funding LLC 2023-5, Credit Acceptance Funding LLC 2023-A, Credit Acceptance Funding LLC 2023-3, Credit Acceptance Funding LLC 2023-2, Credit Acceptance Funding LLC 2023-1, Credit Acceptance Funding LLC 2022-3, Credit Acceptance Funding LLC 2022-2, Credit Acceptance Funding LLC 2022-1, Credit Acceptance Funding LLC 2021-4, Credit Acceptance Funding LLC 2021-1, Credit Acceptance Funding LLC 2019-2, Credit Acceptance Auto Loan Trust 2025-2, Credit Acceptance Auto Loan Trust 2025-1, Credit Acceptance Auto Loan Trust 2024-3, Credit Acceptance Auto Loan Trust 2024-2, Credit Acceptance Auto Loan Trust 2024-1, Credit Acceptance Auto Loan Trust 2024-A, Credit Acceptance Auto Loan Trust 2023-5, Credit Acceptance Auto Loan Trust 2023-3, Credit Acceptance Auto Loan Trust 2023-2, Credit Acceptance Auto Loan Trust 2023-1, Credit Acceptance Auto Loan Trust 2022-3, Credit Acceptance Auto Loan Trust 2022-1, Credit Acceptance Auto Loan Trust 2021-4, Computershare Trust Company, N.A., as trustee, Bank of Montreal, as agent, Fifth Third
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: November 19, 2025 By: /s/ Jay D. Martin Jay D. Martin Chief Financial Officer