Credit Acceptance Announces Completion Of $250.1 Million Asset-Backed Financing

Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $250.1 million asset-backed non-recourse secured financing (the “Financing”). Pursuant to this transaction, we contributed loans having a value of approximately $312.6 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: