Credit Acceptance Announces Extension of Revolving Secured Line of Credit Facility

Rhea-AI Summary

Credit Acceptance Corporation (Nasdaq: CACC) has announced the extension of its revolving secured line of credit facility with a commercial bank syndicate. The maturity date has been extended by one year from June 22, 2027 to June 22, 2028. The Company reported no outstanding balance under the facility as of June 24, 2025, and there were no other material changes to the facility's terms.

Credit Acceptance specializes in providing vehicle financing solutions through a nationwide network of automobile dealers, enabling consumers with challenging credit histories to purchase vehicles while improving their credit scores.

Positive

• Extension of credit facility maturity provides additional financial flexibility
• Zero outstanding balance on the credit facility indicates strong liquidity position
• Maintained existing facility terms without material changes

Negative

• None.

News Market Reaction – CACC

-0.14%

1 alert

-0.14% News Effect

On the day this news was published, CACC declined 0.14%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Southfield, Michigan, June 24, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have extended the maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2027 to June 22, 2028.

As of June 24, 2025, we did not have a balance outstanding under the facility.

There were no other material changes to the terms of the facility.

Description of Credit Acceptance Corporation

We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing.

Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC. For more information, visit creditacceptance.com.

Investor Relations: Jay Brinkley
Senior Vice President & Treasurer
(248) 353-2700 Ext. 6739
IR@creditacceptance.com

FAQ

What changes did Credit Acceptance (CACC) make to its revolving credit facility in June 2025?

Credit Acceptance extended the maturity date of its revolving secured line of credit facility by one year, from June 22, 2027 to June 22, 2028, with no other material changes to the terms.

What is the current balance of CACC's revolving credit facility?

As of June 24, 2025, Credit Acceptance reported no outstanding balance under the revolving secured line of credit facility.

How does Credit Acceptance's (CACC) business model work?

Credit Acceptance provides vehicle financing solutions through a nationwide dealer network, enabling consumers with challenging credit histories to purchase vehicles while helping them improve their credit scores through reporting to the three national credit reporting agencies.

What is the purpose of Credit Acceptance's revolving credit facility?

The revolving secured line of credit facility provides Credit Acceptance with financial flexibility and liquidity to support its vehicle financing operations and business activities.