XML 62 R51.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Debt (Narrative) (Details) - USD ($) |  |  |  | 6 Months Ended |
--- | --- | --- | --- | --- | ---
Mar. 30, 2015 | Feb. 21, 2014 | Jan. 22, 2014 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015
Debt Instrument [Line Items] |  |  |  |  |  |  |
Maximum hedging reserve |  |  |  |  | $ 1,000,000 |  |
Debt facility financing amount |  |  |  |  | $ 2,557,400,000 |  | $ 2,086,300,000
Percentage of collections on contributed loans |  |  |  |  | 6.00% |  |
Monthly servicing fee per financing |  |  |  |  | 6.00% |  |
Proceeds from issuance of senior notes |  |  |  |  | $ 0 | $ 248,200,000 |
Debt covenants |  |  |  |  | 1 |  |
Unamortized debt discount |  |  |  |  | 1,600,000 |  | 1,700,000
Revolving Secured Line of Credit [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Line of credit facility |  |  |  |  | $ 310,000,000 |  |
Percentage of net book value of loans |  |  |  |  | 0.00% |  |
Debt facility financing amount | [1] |  |  |  | $ 0 |  | 57,700,000
Wholly-owned Subsidiary |  |  |  |  | n/a |  |
Unamortized debt discount | [1] |  |  |  | $ 0 |  | $ 0
Warehouse Facilities [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Percentage of net book value of loans |  |  |  |  | 80.00% |  |
Number of warehouse facilities |  |  |  |  | 4 |  |
Debt facility financing amount |  |  |  |  | $ 650,000,000 |  |
Warehouse Facility II [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount | [2],[3] |  |  |  | $ 400,000,000 |  |
Wholly-owned Subsidiary | [2] |  |  |  | CAC Warehouse Funding Corp. II |  |
Debt maturity date | [2],[4] |  |  |  | Jun. 23, 2019 |  |
Senior notes yield to maturity |  |  |  |  | 0.00% |  | 0.00%
Warehouse Facility IV [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount | [2],[3] |  |  |  | $ 75,000,000 |  |
Wholly-owned Subsidiary | [2] |  |  |  | CAC Warehouse Funding LLC IV |  |
Debt maturity date | [2],[4] |  |  |  | Apr. 30, 2018 |  |
Senior notes yield to maturity |  |  |  |  | 2.46% |  | 2.42%
Warehouse Facility V [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount | [2],[3] |  |  |  | $ 100,000,000 |  |
Wholly-owned Subsidiary | [2] |  |  |  | CAC Warehouse Funding LLC V |  |
Debt maturity date | [2],[5] |  |  |  | Sep. 10, 2017 |  |
Senior notes yield to maturity |  |  |  |  | 0.00% |  | 0.00%
Warehouse Facility VI [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount | [2] |  |  |  | $ 75,000,000 |  |
Wholly-owned Subsidiary | [2] |  |  |  | CAC Warehouse Funding LLC VI |  |
Debt maturity date | [2],[4] |  |  |  | Sep. 30, 2018 |  |
Senior notes yield to maturity |  |  |  |  | 0.00% |  | 2.24%
2017 Senior Notes [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Senior notes stated interest rate |  |  | 9.125% |  |  |  |
Repayment of senior notes |  |  | $ 350,000,000 |  |  |  |
2021 Senior Notes [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount |  |  |  | $ 300,000,000 | $ 300,000,000 |  |
Wholly-owned Subsidiary |  |  |  |  | n/a |  |
Close date, secured financings |  |  |  | Jan. 22, 2014 |  |  |
Senior notes stated interest rate |  |  |  | 6.125% |  |  |
Debt maturity date |  |  |  | Feb. 15, 2021 | Feb. 15, 2021 |  |
Senior notes yield to maturity |  |  |  |  | 6.125% |  | 6.125%
2023 Senior Notes [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount |  | $ 250,000,000.0 |  |  | $ 250,000,000 |  |
Wholly-owned Subsidiary |  |  |  |  | n/a |  |
Close date, secured financings |  | Mar. 30, 2015 |  |  |  |  |
Senior notes stated interest rate |  | 7.375% |  |  |  |  |
Debt maturity date |  | Mar. 15, 2023 |  |  | Mar. 15, 2023 |  |
Redemption price, percentage of principal amount redeemed |  | 99.266% |  |  |  |  |
Proceeds from issuance of senior notes |  | $ 248,200,000 |  |  |  |  |
Senior notes yield to maturity |  | 7.50% |  |  | 7.375% |  | 7.375%
Term ABS 2013-1 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt maturity date |  |  |  |  | Apr. 15, 2015 |  |
Senior notes yield to maturity |  |  |  |  | 0.00% |  | 1.56%
Term ABS 2013-2 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount | [2] |  |  |  | $ 197,800,000.0 |  |
Wholly-owned Subsidiary | [2] |  |  |  | Credit Acceptance Funding LLC 2013-2 |  |
Debt financing close date |  |  |  |  | Oct. 31, 2013 |  |
Debt maturity date | [2],[4] |  |  |  | Oct. 15, 2015 |  |
Senior notes yield to maturity |  |  |  |  | 2.03% |  | 1.71%
Term ABS 2014-1 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount | [2] |  |  |  | $ 299,000,000 |  |
Wholly-owned Subsidiary | [2] |  |  |  | Credit Acceptance Funding LLC 2014-1 |  |
Debt financing close date |  |  |  |  | Apr. 16, 2014 |  |
Debt maturity date | [2],[4] |  |  |  | Apr. 15, 2016 |  |
Senior notes yield to maturity |  |  |  |  | 1.75% |  | 1.72%
Term ABS 2014-2 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount | [2] |  |  |  | $ 349,000,000.0 |  |
Wholly-owned Subsidiary | [2] |  |  |  | Credit Acceptance Funding LLC 2014-2 |  |
Debt financing close date |  |  |  |  | Sep. 25, 2014 |  |
Debt maturity date | [2],[4] |  |  |  | Sep. 15, 2016 |  |
Senior notes yield to maturity |  |  |  |  | 2.05% |  | 2.05%
Term ABS 2015-1 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount | [2] |  |  |  | $ 300,600,000 |  |
Wholly-owned Subsidiary | [2] |  |  |  | Credit Acceptance Funding LLC 2015-1 |  |
Debt financing close date |  |  |  |  | Jan. 29, 2015 |  |
Debt maturity date | [2],[4] |  |  |  | Jan. 16, 2017 |  |
Senior notes yield to maturity |  |  |  |  | 2.26% |  | 2.26%
Term ABS 2015-2 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount | [2] |  |  |  | $ 300,200,000 |  |
Wholly-owned Subsidiary | [2] |  |  |  | Credit Acceptance Funding LLC 2015-2 |  |
Debt financing close date |  |  |  |  | Aug. 20, 2015 |  |
Debt maturity date | [2],[4] |  |  |  | Aug. 15, 2017 |  |
Senior notes yield to maturity |  |  |  |  | 2.63% |  | 2.63%
Term ABS 2016-1 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount | [2] |  |  |  | $ 385,000,000 |  |
Wholly-owned Subsidiary | [2] |  |  |  | Credit Acceptance Funding LLC 2016-1 |  |
Debt financing close date |  |  |  |  | Feb. 26, 2016 |  |
Debt maturity date | [2],[4] |  |  |  | Feb. 15, 2018 |  |
Senior notes yield to maturity |  |  |  |  | 2.39% |  |
Term ABS 2016-2 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Debt facility financing amount | [2] |  |  |  | $ 350,200,000 |  |
Wholly-owned Subsidiary | [2] |  |  |  | Credit Acceptance Funding LLC 2016-2 |  |
Debt financing close date |  |  |  |  | May 12, 2016 |  |
Debt maturity date | [2],[4] |  |  |  | May 15, 2018 |  |
Senior notes yield to maturity |  |  |  |  | 2.83% |  |
[1] | Excludes deferred debt issuance costs of $2.9 million and $2.2 million as of June 30, 2016 and December 31, 2015, respectively, which are included in other assets.
[2] | Financing made available only to a specified subsidiary of the Company.
[3] | Interest rate cap agreements are in place to limit the exposure to increasing interest rates.
[4] | Represents the revolving maturity date. The outstanding balance will amortize after the maturity date based on the cash flows of the pledged assets.
[5] | Represents the revolving maturity date. The outstanding balance will amortize after the revolving maturity date and any amounts remaining on September 10, 2019 will be due.

X
- Definition Debt Instrument Covenant Net Income For Past Two Quarters + References No definition available. + Details
Name: | cacc_DebtInstrumentCovenantNetIncomeForPastTwoQuarters
Namespace Prefix: | cacc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Debt financing close date + References No definition available. + Details
Name: | cacc_Debtfinancingclosedate
Namespace Prefix: | cacc_
Data Type: | xbrli:dateItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maximum hedging reserve + References No definition available. + Details
Name: | cacc_MaximumHedgingReserve
Namespace Prefix: | cacc_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Monthly Servicing Fee Per Financing + References No definition available. + Details
Name: | cacc_MonthlyServicingFeePerFinancing
Namespace Prefix: | cacc_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number Warehouse Facilities + References No definition available. + Details
Name: | cacc_NumberWarehouseFacilities
Namespace Prefix: | cacc_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of collections on contributed loans + References No definition available. + Details
Name: | cacc_PercentageOfCollectionsOnContributedLoans
Namespace Prefix: | cacc_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of net book value of loans, maximum. + References No definition available. + Details
Name: | cacc_PercentageOfNetBookValueOfLoans
Namespace Prefix: | cacc_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Date the debt instrument was issued, in CCYY-MM-DD format. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentIssuanceDate1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:dateItemType
Balance Type: | na
Period Type: | duration

X
- Definition Identification of the contractual issuer of the debt instrument (for example, a subsidiary of the reporting entity). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 + Details
Name: | us-gaap_DebtInstrumentIssuer
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(2)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentMaturityDate
Namespace Prefix: | us-gaap_
Data Type: | xbrli:dateItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of principal amount of debt redeemed. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400 + Details
Name: | us-gaap_DebtInstrumentUnamortizedDiscount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3255-108585 + Details
Name: | us-gaap_ProceedsFromIssuanceOfSeniorLongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The cash outflow for a long-term debt where the holder has highest claim on the entity's asset in case of bankruptcy or liquidation during the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3291-108585 + Details
Name: | us-gaap_RepaymentsOfSeniorDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Details
Name: | us-gaap_DebtInstrumentAxis=us-gaap_LineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_WarehouseFacilitiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_WarehouseFacilityIIMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_WarehouseFacilityIVMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_WarehouseFacilityVMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_WarehouseFacilityVIMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_TwoThousandSeventeenSeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_TwoThousandTwentyOneSeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_TwoThousandTwentyThreeSeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_TermAssetBackedSecuredFinancingsTwoThousandThirteenOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_TermAssetBackedSecuredfinancingsTwoThousandThirteenTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_TermAssetBackedSecuredFinancingsTwoThousandFourteenOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_TermAssetBackedSecuredFinancingsTwoThousandFourteenTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_TermAssetBackedSecuredFinancingsTwoThousandFifteenOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_TermAssetBackedSecuredFinancingsTwoThousandFifteenTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_TermAssetBackedSecuredFinancingsTwoThousandSixteenOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=cacc_TermAssetBackedSecuredFinancingsTwoThousandSixteenTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |