Credit Acceptance Announces Increase and Extension of Asset-Backed Financing

June 21, 2024

https://www.globenewswire.com/news-release/2024/06/21/2902528/3872/en/Credit-Acceptance-Announces-Increase-and-Extension-of-Asset-Backed-Financing.html

Southfield, Michigan, June 21, 2024 (GLOBE NEWSWIRE) — Credit Acceptance Corporation (Nasdaq:CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have increased the amount of the asset-backed non-recourse secured financing that we entered into on December 15, 2022 (the “Financing”) and to which we refer as Term ABS 2022-2 from $200.0 million to $300.0 million. Under the amendment effecting the increase and extension, the date on which the Financing will cease to revolve has been extended from December 15, 2025 to June 15, 2027.

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