XML 71 R62.htm IDEA: XBRL DOCUMENT
v3.21.2

Debt (Schedule of General Information of Financing Transaction) - USD ($) $ in Millions |  |  | 9 Months Ended |  |
--- | --- | --- | --- | --- | ---
Mar. 07, 2019 | Aug. 06, 2018 | Sep. 30, 2021 | Dec. 31, 2020 | Dec. 18, 2019
Debt Instrument [Line Items] |  |  |  |  |  |  |
Senior notes |  |  |  | $ 792.0 |  | $ 790.6 |
Revolving Secured Line of Credit [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Line of credit maturity date |  |  |  | Jun. 22, 2023 |  |  |
Financing Amount | [1] |  |  | $ 340.0 |  |  |
Revolving Secured Line of Credit [Member] | LIBOR [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate |  |  |  | 187.50% |  |  |
Revolving Secured Line of Credit [Member] | Prime Rate [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate |  |  |  | 87.50% |  |  |
Warehouse Facility II [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 0.00% |  | 1.90% |
Debt maturity date | [2],[3] |  |  | Apr. 30, 2024 |  |  |
Debt facility financing amount | [2],[4] |  |  | $ 400.0 |  |  |
Warehouse Facility II [Member] | LIBOR [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | [2],[4] |  |  | 175.00% |  |  |
Warehouse Facility IV [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 0.00% |  | 0.00% |
Debt maturity date | [2],[3] |  |  | Nov. 17, 2023 |  |  |
Debt facility financing amount |  |  |  | $ 300.0 | [2],[4] | $ 300.0 |
Warehouse Facility IV [Member] | LIBOR [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | [2],[4] |  |  | 210.00% |  |  |
Warehouse Facility V [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 0.00% |  | 0.00% |
Debt maturity date | [2],[5] |  |  | Dec. 18, 2023 |  |  |
Debt facility financing amount | [2],[4] |  |  | $ 125.0 |  |  |
Warehouse Facility V [Member] | LIBOR [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | [2],[4] |  |  | 225.00% |  |  |
Warehouse Facility VI [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 0.00% |  | 0.00% |
Debt maturity date | [2],[3] |  |  | Sep. 30, 2022 |  |  |
Debt facility financing amount | [2] |  |  | $ 75.0 |  |  |
Warehouse Facility VI [Member] | LIBOR [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | [2] |  |  | 200.00% |  |  |
Warehouse Facility VII [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 0.00% |  | 0.00% |
Debt maturity date | [2],[6] |  |  | Dec. 16, 2021 |  |  |
Debt facility financing amount | [2],[4] |  |  | $ 150.0 |  |  |
Warehouse Facility VII [Member] | Commercial Paper Offered Rate [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | [2],[4] |  |  | 200.00% |  |  |
Warehouse Facility VIII [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 0.00% |  | 0.00% |
Debt maturity date | [2],[3] |  |  | Sep. 01, 2024 |  |  |
Debt facility financing amount | [2],[4] |  |  | $ 200.0 |  |  |
Warehouse Facility VIII [Member] | LIBOR [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | [2] |  |  | 190.00% |  |  |
Term ABS 2018-1 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 0.00% |  | 3.61% |
Term ABS 2018-2 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 0.00% |  | 3.85% |
Term ABS 2018-3 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 4.04% |  | 3.78% |
Debt maturity date | [2],[3] |  |  | Aug. 17, 2020 |  |  |
Debt facility financing amount | [2] |  |  | $ 398.3 |  |  |
Term ABS 2019-1 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 3.73% |  | 3.53% |
Debt maturity date | [2],[3] |  |  | Feb. 15, 2021 |  |  |
Debt facility financing amount | [2] |  |  | $ 402.5 |  |  |
Term ABS 2019-2 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 3.13% |  | 3.13% |
Debt maturity date | [2],[7] |  |  | Aug. 15, 2022 |  |  |
Debt facility financing amount | [2] |  |  | $ 500.0 |  |  |
Term ABS 2019-3 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 2.56% |  | 2.56% |
Debt maturity date | [2],[3] |  |  | Nov. 15, 2021 |  |  |
Debt facility financing amount | [2] |  |  | $ 351.7 |  |  |
Term ABS 2020-1 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 2.18% |  | 2.18% |
Debt maturity date | [2],[3] |  |  | Feb. 15, 2022 |  |  |
Debt facility financing amount | [2] |  |  | $ 500.0 |  |  |
Term ABS 2020-2 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 1.65% |  | 1.65% |
Debt maturity date | [2],[8] |  |  | Jul. 15, 2022 |  |  |
Debt facility financing amount | [2] |  |  | $ 481.8 |  |  |
Term ABS 2020-3 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 1.44% |  | 1.44% |
Debt maturity date | [2],[8] |  |  | Oct. 17, 2022 |  |  |
Debt facility financing amount | [2] |  |  | $ 600.0 |  |  |
Term ABS 2021-1 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 2.07% |  |  |
Debt maturity date | [2],[8] |  |  | Feb. 15, 2023 |  |  |
Debt facility financing amount | [2] |  |  | $ 100.0 |  |  |
Term ABS 2021-1 [Member] | LIBOR [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate |  |  |  | 198.50% |  |  |
Term ABS 2021-2 [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 1.12% |  |  |
Debt maturity date | [2],[8] |  |  | Feb. 15, 2023 |  |  |
Debt facility financing amount | [2] |  |  | $ 500.0 |  |  |
2024 Senior Notes [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Senior notes |  |  |  | $ 400.0 |  | $ 400.0 | $ 400.0
Interest rate |  |  |  | 5.125% |  | 5.125% | 5.125%
Debt maturity date |  |  |  | Dec. 31, 2024 |  |  |
Debt facility financing amount |  |  |  | $ 400.0 |  |  |
2026 Senior Notes [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Senior notes |  |  |  | $ 400.0 |  | $ 400.0 |
Interest rate |  |  |  | 6.625% |  | 6.625% |
Debt maturity date |  | Mar. 15, 2026 |  | Mar. 15, 2026 |  |  |
Debt facility financing amount |  | $ 400.0 |  | $ 400.0 |  |  |
Mortgages [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 1.59% |  | 1.65% |
Debt maturity date |  |  | Aug. 06, 2023 | Aug. 06, 2023 | [2] |  |
Debt facility financing amount |  |  | $ 12.0 | $ 12.0 | [2] |  |
Mortgages [Member] | LIBOR [Member] |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Basis spread on variable rate | [2],[4] |  |  | 150.00% |  |  |
TermAssetBackedSecuredFinancingsTwoThousandTwentyOneThree |  |  |  |  |  |  |
Debt Instrument [Line Items] |  |  |  |  |  |  |
Interest rate |  |  |  | 1.14% |  |  |
Debt maturity date | [2],[8] |  |  | May 15, 2023 |  |  |
Debt facility financing amount | [2] |  |  | $ 450.0 |  |  |
[1] | Excludes deferred debt issuance cost s of $2.3 million and $3.2 million as of September 30, 2021 and December 31, 2020, respectively, which are included in other assets.
[2] | Financing made available only to a specified subsidiary of the Company.
[3] | Represents the revolving maturity date. The outstanding balance will amortize after the revolving maturity date based on the cash flows of the pledged assets.
[4] | Interest rate cap agreements are in place to limit the exposure to increasing interest rates
[5] | Represents the revolving maturity date. The outstanding balance will amortize after the revolving maturity date and any amounts remaining on December 16, 2025 will be due on that date.
[6] | Represents the revolving maturity date. The outstanding balance will amortize after the revolving maturity date and any amounts remaining on December 16, 2023 will be due on that date.
[7] | Represents the revolving maturity date. The Company has the option to redeem and retire the indebtedness after the revolving maturity date. If we do not elect this option, the outstanding balance will amortize based on the cash flows of the pledged assets.
[8] | The Dealer Loans amount represents advances paid to Dealers on Consumer Loans assigned under our Portfolio Program. The Purchased Loans amount represents one-time payments made to Dealers to purchase Consumer Loans assigned under our Purchase Program.

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 + 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120520924&loc=SL6036836-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

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/disclosureRef -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=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_DebtInstrumentMaturityDate
Namespace Prefix: | us-gaap_
Data Type: | xbrli:dateItemType
Balance Type: | na
Period Type: | duration

X
- Definition Date the credit facility terminates, in CCYY-MM-DD format. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityExpirationDate1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:dateItemType
Balance Type: | na
Period Type: | duration

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://fasb.org/us-gaap/role/ref/legacyRef -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=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Senior note holders are paid off in full before any payments are made to junior note holders. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_SeniorLongTermNotes
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

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

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_PrimeRateMember
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_WarehouseFacilityVIIMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=cacc_CommercialPaperOfferedRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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