Credit Acceptance Corporation filings document the regulatory record for a Nasdaq-listed consumer finance company with common stock registered under the ticker CACC. Its disclosures cover operating results, non-GAAP adjusted income measures, loan portfolio performance, forecasted future collections, dealer holdback payments, and risks tied to the automobile finance market and non-prime consumer credit.
The company's SEC filings also include material-event reports on asset-backed non-recourse secured financings, amendments to loan and security agreements, and trust or special purpose entity structures used to convey consumer loans and issue notes. Proxy materials document board matters, executive compensation, incentive plan information, shareholder voting items, and governance practices, while 8-K filings record officer transitions, Regulation FD materials, and other capital-structure or financing events.
Credit Acceptance Corporation entered into amendments with Fifth Third Bank to extend and reprice its Term ABS 2021-1 secured financing. The $100.0 million asset-backed, non-recourse facility will now cease to revolve on January 18, 2028 instead of February 17, 2026, giving the company a longer period to originate and fund receivables under this structure. The interest rate on borrowings has been reduced from the Secured Overnight Financing Rate (SOFR) plus 220 basis points to SOFR plus 140 basis points, lowering the facility’s funding cost. The company states there were no other material changes to the terms of Term ABS 2021-1, and it also issued a press release describing the amendments.
Credit Acceptance Corp director reports stock gift
Director Jill Foss Watson, acting as Trustee of the Jill Foss Watson Living Trust, reported a gift of 550 shares of Credit Acceptance Corp common stock on 12/16/2025, shown with transaction code "G" and a price of $0, indicating a non-cash transfer. After this transaction, the trust continues to hold 101,557 shares, reported as indirectly owned. The filing is made by a single reporting person and clarifies that the shares are owned of record by Jill Foss Watson as trustee of the living trust.
Credit Acceptance Corp’s chief sales officer, Daniel A. Ulatowski, reported an insider transaction dated 12/10/2025. He exercised employee stock options for 3,000 shares of common stock at $333.94 per share and, on the same date, sold 3,000 shares of common stock at $475.66 per share.
Following these transactions, he beneficially owns 28,290 unvested restricted stock units granted under the company’s incentive compensation plan, 4,000 shares held indirectly through the D.&B. Ulatowski Living Trust, and 33,000 employee stock options.
Credit Acceptance Corp reported an insider stock sale by its Chief Mktg and Product Officer on 12/10/2025. The officer sold 606 shares of common stock at $475 per share. After this trade, the officer beneficially owns 23,873 shares, including 22,572 unvested restricted stock units granted under the company’s incentive compensation plan. The officer also holds employee stock options for 16,000 shares at an exercise price of $585.93, expiring on 04/18/2028 and exercisable in four equal annual installments beginning 04/18/2023.
Credit Acceptance Corp (CACC) Chief Marketing and Product Officer Andrew K. Rostami reported a sale of common stock. On 11/24/2025, he sold 516 shares of common stock at $428.5 per share. After this transaction, he beneficially owns 24,479 shares of common stock, which include 22,572 unvested restricted stock units granted under the company’s incentive plan.
Rostami also holds an employee stock option giving him the right to purchase 16,000 shares of common stock at an exercise price of $585.93 per share. This option vests in four equal annual installments beginning on April 18, 2023 and expires on April 18, 2028.
Credit Acceptance Corporation entered into a new $500.0 million asset-backed non-recourse secured financing backed by consumer auto loans. The company transferred approximately $625.2 million of consumer loans into a special purpose entity and trust, which issued three note classes: Class A $284.61 million at 4.50%, Class B $104.57 million at 4.87%, and Class C $110.82 million at 5.38%, each sold slightly below par. The financing is expected to have an average annualized cost of about 5.1%, will revolve for 24 months, and then amortize with loan cash flows.
The company plans to use proceeds to repay higher-cost debt and for general corporate purposes. Credit Acceptance will service the loans and receive 4.0% of the loan cash flows as a servicing fee, with the remaining 96.0% primarily paying note principal, interest, and related costs. The securitization is non-recourse to the company other than customary limited repurchase and indemnity obligations, and can be accelerated upon specified events of default tied to payment failures, covenant breaches, collateral performance, and certain legal or structural issues.
Credit Acceptance Corp (CACC) reported an equity award to its Chief Executive Officer, who is also a director. On 11/13/2025, the executive acquired 140,000 shares of common stock in the form of restricted stock units under the company’s Incentive Compensation Plan at a price of $0 per share. Following this transaction, the executive beneficially owned 140,502 shares, including 140,471 unvested restricted stock units, each equal to one share of common stock.
The award is part of a long-term compensation plan with time-based vesting over ten years, including 30,000 long-term retirement restricted stock units. Vested retirement units are paid on the fifth anniversary of the executive’s separation date, or the second anniversary if the executive is at least 60 at that time. The filing also discloses an employee stock option for 10,000 shares of common stock at an exercise price of $394.79, exercisable from 05/03/2025 until 05/03/2031.
Credit Acceptance (CACC) reported an insider equity update. Chief Marketing and Product Officer Andrew K. Rostami recorded a tax-withholding transaction related to RSU vesting, disposing of 483.5 shares at $447.34 on 10/31/2025 (Code F).
After the transaction, he beneficially owns 24,995 shares. This figure includes 22,572 unvested RSUs granted under the company’s Incentive Compensation Plan. He also holds an employee stock option for 16,000 shares with a $585.93 exercise price, expiring on 04/18/2028, which vests in four equal annual installments beginning April 18, 2023.
Credit Acceptance Corporation reported stronger results for Q3 2025. Total revenue was $582.4 million, up from $550.3 million a year ago, driven mainly by higher finance charges of $539.4 million. Net income rose to $108.2 million from $78.8 million, with diluted EPS of $9.43 versus $6.35. Operating expenses were $146.6 million, while the total provision for credit losses decreased to $152.0 million from $184.7 million.
Year to date, revenue reached $1,737.3 million and net income was $301.9 million. The company repurchased 1,089,033 shares for $531.3 million over nine months, including 230,365 shares for $107.2 million in Q3. Cash and cash equivalents were $15.9 million as of September 30, 2025, and Loans receivable, net were $7,975.5 million. The allowance for credit losses was $3,588.2 million against Loans receivable of $11,563.7 million. The company issued $500.0 million of senior notes and repaid $400.0 million. Shares outstanding were 11,031,544 as of October 23, 2025.
Credit Acceptance Corporation furnished an 8-K announcing its financial results for the three months ended September 30, 2025, and provided details for a related webcast held on October 30, 2025. The company disclosed this under Item 2.02 (Results of Operations and Financial Condition).
The press release containing the results is attached as Exhibit 99.1 and incorporated by reference. The company stated the information furnished under Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act.