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Reinsurance | 12 Months Ended
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Dec. 31, 2020
Reinsurance [Abstract] |
Reinsurance | REINSURANCE A summary of reinsurance activity is as follows:
(In millions) | For the Years Ended December 31,
| 2020 |  | 2019 |  | 2018
Net assumed written premiums | $ | 61.7 |  |  | $ | 51.8 |  |  | $ | 55.8 |
Net premiums earned | 57.3 |  |  | 51.0 |  |  | 46.6 |
Provision for claims | 37.9 |  |  | 30.1 |  |  | 26.0 |
Amortization of capitalized acquisition costs | 1.4 |  |  | 1.3 |  |  | 1.2 |
The trust assets and related reinsurance liabilities are as follows:
(In millions) |  |  | As of December 31,
| Balance Sheet location |  | 2020 |  | 2019
Trust assets | Restricted cash and cash equivalents |  | $ | 0.7 |  |  | $ | 0.9 |
Trust assets | Restricted securities available for sale |  | 66.1 |  |  | 59.3 |
Unearned premium | Accounts payable and accrued liabilities |  | 48.5 |  |  | 44.1 |
Claims reserve (1) | Accounts payable and accrued liabilities |  | 2.3 |  |  | 1.8 |
(1) The claims reserve represents our liability for incurred-but-not-reported claims and is estimated based on historical claims experience. The following tables present information about incurred and paid claims development for the five-year period ended December 31, 2020:
(Dollars in millions) |  |  |  |  |  |  |  |  |  |  |  |
|  | Cumulative Incurred Claims |  | As of December 31, 2020
Incident Year |  | As of December 31, |  | Claims Reserve |  | Cumulative Number of Reported Claims
| 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020 |
2016 |  | $ | 25.7 |  |  | $ | 26.0 |  |  | $ | 26.0 |  |  | $ | 26.0 |  |  | $ | 26.0 |  |  | $ | — |  |  | 25,215 |
2017 |  |  |  | 22.3 |  |  | 22.5 |  |  | 22.6 |  |  | 22.6 |  |  | — |  |  | 20,462 |
2018 |  |  |  |  |  | 25.8 |  |  | 25.7 |  |  | 25.8 |  |  | — |  |  | 22,309 |
2019 |  |  |  |  |  |  |  | 30.1 |  |  | 30.2 |  |  | — |  |  | 24,411 |
2020 |  |  |  |  |  |  |  |  |  | 37.7 |  |  | 2.3 |  |  | 27,404 |
Total |  |  |  |  |  |  |  |  |  | $ | 142.3 |  |  | $ | 2.3 |  |  | 119,801 |
(In millions) |  | Cumulative Paid Claims
|  | As of December 31,
Incident Year |  | 2016 |  | 2017 |  | 2018 |  | 2019 |  | 2020
2016 |  | $ | 24.7 |  |  | $ | 26.0 |  |  | $ | 26.0 |  |  | $ | 26.0 |  |  | $ | 26.0 |
2017 |  |  |  | 21.3 |  |  | 22.5 |  |  | 22.6 |  |  | 22.6 |
2018 |  |  |  |  |  | 24.2 |  |  | 25.7 |  |  | 25.8 |
2019 |  |  |  |  |  |  |  | 28.3 |  |  | 30.2 |
2020 |  |  |  |  |  |  |  |  |  | 35.4 |
Total |  | $ | 140.0 |
Average Annual Percentage Payout of Incurred Claims by Age
Claim Age (Years) |  | 1 |  | 2 |  | 3 |  | 4 |  | 5
Payout Percentage |  | 94.0 | % |  | 5.7 | % |  | 0.3 | % |  | — | % |  | — | %

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- Definition Reinsurance [Abstract] + References No definition available. + Details
Name: | cacc_ReinsuranceAbstract
Namespace Prefix: | cacc_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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- Definition The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -URI http://asc.fasb.org/topic&trid=2303980 + Details
Name: | us-gaap_ReinsuranceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration