{"filing":{"accession_number":"0000885550-26-000185","cik":"0000885550","ticker":"CACC","company_name":"CREDIT ACCEPTANCE CORP","form":"8-K","filing_date":"2026-08-25","report_date":"2026-08-20","primary_document":"cacc-20260820.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/885550/000088555026000185/cacc-20260820.htm"},"events":[{"id":29446,"run_id":26965,"accession_number":"0000885550-26-000185","anchor_item_number":"2.03","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"summary":"Credit Acceptance completed a $600.0 million asset-backed non-recourse secured financing on August 20, 2026, issuing three classes of notes (A, B, and C) with interest rates ranging from 5.01% to 5.51%. The proceeds will be used to repay higher-cost outstanding indebtedness and for general corporate purposes.","company_name":"CREDIT ACCEPTANCE CORP","ticker":"CACC","filing_date":"2026-08-25","form":"8-K","submitted_at":null,"items":[{"id":31730,"accession_number":"0000885550-26-000185","item_number":"1.01","item_title":"Entry into a Material Definitive Agreement.","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Credit Acceptance completed a $600.0 million asset-backed non-recourse secured financing, with three classes of notes issued totaling approximately $600 million at varying interest rates (5.01%-5.51%). This represents creation of a new direct financial obligation through debt issuance, structured as an asset-backed securitization. The transaction is material as it refinances higher-cost debt and represents a significant capital market activity for the company.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-08-25T20:04:59.768837+00:00","company_name":"","ticker":null,"filing_date":""},{"id":31731,"accession_number":"0000885550-26-000185","item_number":"2.03","item_title":"Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Credit Acceptance entered into a $600.0 million asset-backed non-recourse secured financing on August 20, 2026, creating a direct financial obligation through the issuance of three classes of notes (A, B, and C) totaling $600.0 million with an expected annualized cost of approximately 5.5%. This is a classic debt issuance disclosed under Item 2.03, creating new direct financial obligations secured by consumer loan assets, and is material to investors as a significant capital-raising transaction used to repay higher-cost indebtedness.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-08-25T20:04:59.768837+00:00","company_name":"","ticker":null,"filing_date":""},{"id":31732,"accession_number":"0000885550-26-000185","item_number":"8.01","item_title":"Other Events.","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Credit Acceptance completed a $600.0 million asset-backed securitization financing, issuing three classes of notes (A, B, and C) with a combined principal amount of approximately $600 million. This represents the creation of a new direct financial obligation through debt issuance. The company explicitly states the financing will be used to \"repay higher cost outstanding indebtedness and for general corporate purposes,\" confirming this is a material debt capital event.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-08-25T20:04:59.768837+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":31730,"accession_number":"0000885550-26-000185","item_number":"1.01","item_title":"Entry into a Material Definitive Agreement.","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Credit Acceptance completed a $600.0 million asset-backed non-recourse secured financing, with three classes of notes issued totaling approximately $600 million at varying interest rates (5.01%-5.51%). This represents creation of a new direct financial obligation through debt issuance, structured as an asset-backed securitization. The transaction is material as it refinances higher-cost debt and represents a significant capital market activity for the company.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-08-25T20:04:59.768837+00:00","company_name":"CREDIT ACCEPTANCE CORP","ticker":"CACC","filing_date":"2026-08-25"},{"id":31731,"accession_number":"0000885550-26-000185","item_number":"2.03","item_title":"Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Credit Acceptance entered into a $600.0 million asset-backed non-recourse secured financing on August 20, 2026, creating a direct financial obligation through the issuance of three classes of notes (A, B, and C) totaling $600.0 million with an expected annualized cost of approximately 5.5%. This is a classic debt issuance disclosed under Item 2.03, creating new direct financial obligations secured by consumer loan assets, and is material to investors as a significant capital-raising transaction used to repay higher-cost indebtedness.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-08-25T20:04:59.768837+00:00","company_name":"CREDIT ACCEPTANCE CORP","ticker":"CACC","filing_date":"2026-08-25"},{"id":31732,"accession_number":"0000885550-26-000185","item_number":"8.01","item_title":"Other Events.","event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"Credit Acceptance completed a $600.0 million asset-backed securitization financing, issuing three classes of notes (A, B, and C) with a combined principal amount of approximately $600 million. This represents the creation of a new direct financial obligation through debt issuance. The company explicitly states the financing will be used to \"repay higher cost outstanding indebtedness and for general corporate purposes,\" confirming this is a material debt capital event.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-08-25T20:04:59.768837+00:00","company_name":"CREDIT ACCEPTANCE CORP","ticker":"CACC","filing_date":"2026-08-25"}]}