XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.25.2

Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
Debt Disclosure [Abstract] |  |
Schedule of Principal Debt Outstanding | Debt consists of the following:
(In millions) |  | As of June 30, 2025
|  | Principal Outstanding |  | Unamortized Debt Issuance Costs |  | Unamortized Discount |  | Carrying Amount
Revolving secured lines of credit (1) |  | $ | 1.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 1.5 |
Secured financing (2) |  | 5,407.0 |  |  | (23.0) |  |  | (0.7) |  |  | 5,383.3 |
Senior notes |  | 1,100.0 |  |  | (13.6) |  |  | — |  |  | 1,086.4 |
Total debt |  | $ | 6,508.5 |  |  | $ | (36.6) |  |  | $ | (0.7) |  |  | $ | 6,471.2 |
(In millions) |  | As of December 31, 2024
|  | Principal Outstanding |  | Unamortized Debt Issuance Costs |  | Unamortized Discount |  | Carrying Amount
Revolving secured lines of credit (1) |  | $ | 0.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 0.1 |
Secured financing (2) |  | 5,391.8 |  |  | (29.0) |  |  | (1.3) |  |  | 5,361.5 |
Senior notes |  | 1,000.0 |  |  | (8.7) |  |  | — |  |  | 991.3 |
Total debt |  | $ | 6,391.9 |  |  | $ | (37.7) |  |  | $ | (1.3) |  |  | $ | 6,352.9 |
(1)Excludes deferred debt issuance costs of $5.4 million and $4.4 million as of June 30, 2025 and December 31, 2024, respectively, which are included in other assets. (2)Warehouse facilities and Term ABS financings. |
Schedule of General Information of Financing Transaction | General information for each of our financing transactions in place as of June 30, 2025 is as follows:
(Dollars in millions) |  |  |  |  |  |  |  |  |
Financings |  | Wholly Owned Subsidiary |  | Maturity Date |  | Financing Amount |  | Interest Rate Basis as of June 30, 2025
Revolving Secured Line of Credit Facility |  | n/a |  | 06/22/2028 |  |  | $ | 390.0 |  |  | At our option, either the Secured Overnight Financing Rate (SOFR) plus 197.5 basis points or the prime rate plus 87.5 basis points
RTP Facility |  | n/a |  | — | (1) |  | 20.0 |  |  | SOFR plus 197.5 basis points
Warehouse Facility II (2) |  | CAC Warehouse Funding LLC II |  | 09/20/2027 | (3) |  | 500.0 |  |  | SOFR plus 185.0 basis points
Warehouse Facility IV (2) |  | CAC Warehouse Funding LLC IV |  | 12/29/2026 | (3) |  | 300.0 |  |  | SOFR plus 221.4 basis points
Warehouse Facility V (2) |  | CAC Warehouse Funding LLC V |  | 12/29/2027 | (4) |  | 250.0 |  |  | SOFR plus 185.0 basis points
Warehouse Facility VI (2) |  | CAC Warehouse Funding LLC VI |  | 09/30/2026 | (3) |  | 75.0 |  |  | SOFR plus 210.0 basis points
Warehouse Facility VIII (2) |  | CAC Warehouse Funding LLC VIII |  | 09/21/2026 | (3) |  | 200.0 |  |  | SOFR plus 225.0 basis points
Term ABS 2019-2 (2) |  | Credit Acceptance Funding LLC 2019-2 |  | 09/15/2026 | (5) |  | 500.0 |  |  | Fixed rate
Term ABS 2021-1 (2) |  | Credit Acceptance Funding LLC 2021-1 |  | 02/17/2026 | (5) |  | 100.0 |  |  | SOFR plus 220.0 basis points
Term ABS 2022-1 (2) |  | Credit Acceptance Funding LLC 2022-1 |  | 06/17/2024 | (3) |  | 350.0 |  |  | Fixed rate
Term ABS 2022-2 (2) |  | Credit Acceptance Funding LLC 2022-2 |  | 06/15/2027 | (5) |  | 300.0 |  |  | SOFR plus 246.4 basis points
Term ABS 2022-3 (2) |  | Credit Acceptance Funding LLC 2022-3 |  | 10/15/2024 | (3) |  | 389.9 |  |  | Fixed rate
Term ABS 2023-1 (2) |  | Credit Acceptance Funding LLC 2023-1 |  | 03/17/2025 | (3) |  | 400.0 |  |  | Fixed rate
Term ABS 2023-2 (2) |  | Credit Acceptance Funding LLC 2023-2 |  | 05/15/2025 | (3) |  | 400.0 |  |  | Fixed rate
Term ABS 2023-3 (2) |  | Credit Acceptance Funding LLC 2023-3 |  | 08/15/2025 | (3) |  | 400.0 |  |  | Fixed rate
Term ABS 2023-A (2) |  | Credit Acceptance Funding LLC 2023-A |  | 12/15/2025 | (5) |  | 200.0 |  |  | Fixed rate
Term ABS 2023-5 (2) |  | Credit Acceptance Funding LLC 2023-5 |  | 12/15/2025 | (3) |  | 294.0 |  |  | Fixed rate
Term ABS 2024-A (2) |  | Credit Acceptance Funding LLC 2024-A |  | 02/15/2027 | (5) |  | 200.0 |  |  | Fixed rate
Term ABS 2024-1 (2) |  | Credit Acceptance Funding LLC 2024-1 |  | 03/16/2026 | (3) |  | 500.0 |  |  | Fixed rate
Term ABS 2024-2 (2) |  | Credit Acceptance Funding LLC 2024-2 |  | 06/15/2026 | (3) |  | 550.0 |  |  | Fixed rate
Term ABS 2024-3 (2) |  | Credit Acceptance Funding LLC 2024-3 |  | 09/15/2026 | (3) |  | 600.0 |  |  | Fixed rate
Term ABS 2024-B (2) |  | Credit Acceptance Funding LLC 2024-B |  | 12/15/2027 | (5) |  | 300.0 |  |  | Fixed rate
Term ABS 2025-1 (2) |  | Credit Acceptance Funding LLC 2025-1 |  | 03/15/2027 | (3) |  | 400.0 |  |  | Fixed rate
2028 Senior Notes |  | n/a |  | 12/15/2028 |  |  | 600.0 |  |  | Fixed rate
2030 Senior Notes |  | n/a |  | 03/15/2030 |  |  | 500.0 |  |  | Fixed rate
(1)Borrowings are subject to repayment on demand. (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)Represents the revolving maturity date. The outstanding balance will amortize after the revolving maturity date and any amounts remaining on December 27, 2029 will be due on that date. (5)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. | [1]
Schedule of Additional Information Related to Debt Instruments | Additional information related to the amounts outstanding on each facility is as follows:
(In millions) | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Revolving Secured Lines of Credit |  |  |  |  |  |  |
Maximum outstanding principal balance | $ | 24.8 |  |  | $ | 342.0 |  |  | $ | 24.8 |  |  | $ | 342.0 |
Average outstanding principal balance | 2.0 |  |  | 212.0 |  |  | 1.4 |  |  | 189.4 |
Warehouse Facility II |  |  |  |  |  |  |
Maximum outstanding principal balance | — |  |  | 251.0 |  |  | 251.0 |  |  | 251.0 |
Average outstanding principal balance | — |  |  | 142.0 |  |  | 2.8 |  |  | 135.1 |
Warehouse Facility IV |  |  |  |  |  |  |
Maximum outstanding principal balance | — |  |  | — |  |  | — |  |  | — |
Average outstanding principal balance | — |  |  | — |  |  | — |  |  | — |
Warehouse Facility V |  |  |  |  |  |  |
Maximum outstanding principal balance | — |  |  | 100.0 |  |  | — |  |  | 100.0 |
Average outstanding principal balance | — |  |  | 23.1 |  |  | — |  |  | 11.5 |
Warehouse Facility VI |  |  |  |  |  |  |
Maximum outstanding principal balance | — |  |  | 60.0 |  |  | — |  |  | 60.0 |
Average outstanding principal balance | — |  |  | 55.4 |  |  | — |  |  | 42.5 |
Warehouse Facility VIII |  |  |  |  |  |  |
Maximum outstanding principal balance | — |  |  | 100.0 |  |  | — |  |  | 100.0 |
Average outstanding principal balance | — |  |  | 47.3 |  |  | — |  |  | 39.0 |
Summary of Debt |
(Dollars in millions) | As of
| June 30, 2025 |  | December 31, 2024
Revolving Secured Lines of Credit |  |  |
Principal balance outstanding | $ | 1.5 |  |  | $ | 0.1 |
Amount available for borrowing (1) | 408.5 |  |  | 409.9 |
Interest rate | 6.26 | % |  | 6.37 | %
Warehouse Facility II |  |  |
Principal balance outstanding | $ | — |  |  | $ | — |
Amount available for borrowing (1) | 500.0 |  |  | 500.0 |
Loans pledged as collateral | — |  |  | — |
Restricted cash and cash equivalents pledged as collateral | — |  |  | 2.5 |
Interest rate | — | % |  | — | %
Warehouse Facility IV |  |  |
Principal balance outstanding | $ | — |  |  | $ | — |
Amount available for borrowing (1) | 300.0 |  |  | 300.0 |
Loans pledged as collateral | — |  |  | — |
Restricted cash and cash equivalents pledged as collateral | — |  |  | — |
Interest rate | — | % |  | — | %
Warehouse Facility V |  |  |
Principal balance outstanding | $ | — |  |  | $ | — |
Amount available for borrowing (1) | 250.0 |  |  | 250.0 |
Loans pledged as collateral | — |  |  | — |
Restricted cash and cash equivalents pledged as collateral | 1.0 |  |  | 1.0 |
Interest rate | — | % |  | — | %
Warehouse Facility VI |  |  |
Principal balance outstanding | $ | — |  |  | $ | — |
Amount available for borrowing (1) | 75.0 |  |  | 75.0 |
Loans pledged as collateral | — |  |  | — |
Restricted cash and cash equivalents pledged as collateral | — |  |  | — |
Interest rate | — | % |  | — | %
Warehouse Facility VIII |  |  |
Principal balance outstanding | $ | — |  |  | $ | — |
Amount available for borrowing (1) | 200.0 |  |  | 200.0 |
Loans pledged as collateral | — |  |  | — |
Restricted cash and cash equivalents pledged as collateral | — |  |  | — |
Interest rate | — | % |  | — | %
Term ABS 2019-2 |  |  |
Principal balance outstanding | $ | 500.0 |  |  | $ | 500.0 |
Loans pledged as collateral | 525.0 |  |  | 529.0 |
Restricted cash and cash equivalents pledged as collateral | 43.1 |  |  | 41.7 |
Interest rate | 5.43 | % |  | 5.43 | %
Term ABS 2021-1 |  |  |
Principal balance outstanding | $ | 100.0 |  |  | $ | 100.0 |
Loans pledged as collateral | 108.4 |  |  | 112.0 |
Restricted cash and cash equivalents pledged as collateral | 9.2 |  |  | 8.7 |
Interest rate | 6.51 | % |  | 6.60 | %
(Dollars in millions) | As of
| June 30, 2025 |  | December 31, 2024
Term ABS 2021-4 |  |  |
Principal balance outstanding | $ | — |  |  | $ | 63.6 |
Loans pledged as collateral | — |  |  | 167.0 |
Restricted cash and cash equivalents pledged as collateral | — |  |  | 16.4 |
Interest rate | — | % |  | 1.89 | %
Term ABS 2022-1 |  |  |
Principal balance outstanding | $ | 131.6 |  |  | $ | 236.6 |
Loans pledged as collateral | 244.5 |  |  | 310.0 |
Restricted cash and cash equivalents pledged as collateral | 22.9 |  |  | 24.9 |
Interest rate | 5.67 | % |  | 5.24 | %
Term ABS 2022-2 |  |  |
Principal balance outstanding | $ | 300.0 |  |  | $ | 300.0 |
Loans pledged as collateral | 353.1 |  |  | 406.0 |
Restricted cash and cash equivalents pledged as collateral | 25.2 |  |  | 25.2 |
Interest rate | 6.75 | % |  | 7.29 | %
Term ABS 2022-3 |  |  |
Principal balance outstanding | $ | 227.0 |  |  | $ | 347.6 |
Loans pledged as collateral | 311.0 |  |  | 395.2 |
Restricted cash and cash equivalents pledged as collateral | 26.8 |  |  | 29.1 |
Interest rate | 8.43 | % |  | 7.82 | %
Term ABS 2023-1 |  |  |
Principal balance outstanding | $ | 329.6 |  |  | $ | 400.0 |
Loans pledged as collateral | 376.9 |  |  | 453.0 |
Restricted cash and cash equivalents pledged as collateral | 31.5 |  |  | 33.1 |
Interest rate | 7.01 | % |  | 6.92 | %
Term ABS 2023-2 |  |  |
Principal balance outstanding | $ | 374.8 |  |  | $ | 400.0 |
Loans pledged as collateral | 430.8 |  |  | 533.3 |
Restricted cash and cash equivalents pledged as collateral | 33.9 |  |  | 36.8 |
Interest rate | 6.42 | % |  | 6.39 | %
Term ABS 2023-3 |  |  |
Principal balance outstanding | $ | 400.0 |  |  | $ | 400.0 |
Loans pledged as collateral | 429.7 |  |  | 524.9 |
Restricted cash and cash equivalents pledged as collateral | 34.5 |  |  | 36.5 |
Interest rate | 6.86 | % |  | 6.86 | %
Term ABS 2023-A |  |  |
Principal balance outstanding | $ | 200.0 |  |  | $ | 200.0 |
Loans pledged as collateral | 216.3 |  |  | 252.0 |
Restricted cash and cash equivalents pledged as collateral | 17.1 |  |  | 17.7 |
Interest rate | 7.51 | % |  | 7.51 | %
Term ABS 2023-5 |  |  |
Principal balance outstanding | $ | 294.0 |  |  | $ | 294.0 |
Loans pledged as collateral | 330.3 |  |  | 398.7 |
Restricted cash and cash equivalents pledged as collateral | 31.2 |  |  | 32.9 |
Interest rate | 6.54 | % |  | 6.54 | %
(Dollars in millions) | As of
| June 30, 2025 |  | December 31, 2024
Term ABS 2024-A |  |  |
Principal balance outstanding | $ | 200.0 |  |  | $ | 200.0 |
Loans pledged as collateral | 211.3 |  |  | 248.4 |
Restricted cash and cash equivalents pledged as collateral | 17.5 |  |  | 18.1 |
Interest rate | 7.45 | % |  | 7.45 | %
Term ABS 2024-1 |  |  |
Principal balance outstanding | $ | 500.0 |  |  | $ | 500.0 |
Loans pledged as collateral | 589.0 |  |  | 553.3 |
Restricted cash and cash equivalents pledged as collateral | 47.4 |  |  | 45.0 |
Interest rate | 6.01 | % |  | 6.01 | %
Term ABS 2024-2 |  |  |
Principal balance outstanding | $ | 550.0 |  |  | $ | 550.0 |
Loans pledged as collateral | 605.6 |  |  | 646.8 |
Restricted cash and cash equivalents pledged as collateral | 43.7 |  |  | 42.0 |
Interest rate | 6.21 | % |  | 6.21 | %
Term ABS 2024-3 |  |  |
Principal balance outstanding | $ | 600.0 |  |  | $ | 600.0 |
Loans pledged as collateral | 668.3 |  |  | 700.9 |
Restricted cash and cash equivalents pledged as collateral | 49.9 |  |  | 51.5 |
Interest rate | 4.91 | % |  | 4.91 | %
Term ABS 2024-B |  |  |
Principal balance outstanding | $ | 300.0 |  |  | $ | 300.0 |
Loans pledged as collateral | 353.0 |  |  | 425.8 |
Restricted cash and cash equivalents pledged as collateral | 23.3 |  |  | 37.9 |
Interest rate | 6.13 | % |  | 6.13 | %
Term ABS 2025-1 |  |  |
Principal balance outstanding | $ | 400.0 |  |  | $ | — |
Loans pledged as collateral | 476.8 |  |  | — |
Restricted cash and cash equivalents pledged as collateral | 34.8 |  |  | — |
Interest rate | 5.26 | % |  | — | %
2026 Senior Notes |  |  |
Principal balance outstanding | $ | — |  |  | $ | 400.0 |
Interest rate | — | % |  | 6.625 | %
2028 Senior Notes |  |  |
Principal balance outstanding | $ | 600.0 |  |  | $ | 600.0 |
Interest rate | 9.250 | % |  | 9.250 | %
2030 Senior Notes |  |  |
Principal balance outstanding | $ | 500.0 |  |  | $ | — |
Interest rate | 6.625 | % |  | — | %
(1)Availability may be limited by the amount of assets pledged as collateral. |
[1] | Financing made available only to a specified subsidiary of the Company.

X
- Definition Schedule Of Additional Information Related To Debt Instruments [Table Text Block] + References No definition available. + Details
Name: | cacc_ScheduleOfAdditionalInformationRelatedToDebtInstrumentsTableTextBlock
Namespace Prefix: | cacc_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Principal Debt Outstanding [Table Text Block] + References No definition available. + Details
Name: | cacc_ScheduleofPrincipalDebtOutstandingTableTextBlock
Namespace Prefix: | cacc_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 235 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration