CREDIT ACCEPTANCE CORP - 8-K Filing
Credit Acceptance Corporation entered into a $450 million asset-backed non-recourse secured financing on May 5, 2026, by conveying consumer loans valued at approximately $562.6 million to Credit Acceptance Funding LLC 2026-1. The transaction issued three note classes totaling $450 million with interest rates ranging from 4.65% (Class A) to 5.28% (Class C), and an expected average annualized cost of approximately 5.2%. Proceeds will be used to repay higher-cost debt and for general corporate purposes. (Items: 1.01 Entry into a Material Definitive Agreement, 2.03 is hereby incorporated by reference into this Item 1, 8.01 Other Events, 9.01 Financial Statements and Exhibits)
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