Source: GlobeNewswire

Press Release: Credit Acceptance : Credit Acceptance Announces Completion of $481.8 Million Asset-Backed Financing

Southfield, Michigan, July 23, 2020 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $481.8 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we contributed loans having a value of approximately $602.3 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes:

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Brett .A Roberts's photo - CEO of Credit Acceptance

CEO

Brett .A Roberts

CEO Approval Rating

94/100

Credit Acceptance, is an indirect auto finance company, working with car dealers nationwide to enable them to sell cars to consumers. Read more