UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): August 31, 2007
CREDIT
ACCEPTANCE CORPORATION
(Exact name of registrant as specified in its charter)
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| Michigan
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000-20202
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38-1999511 |
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.) |
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| 25505 West Twelve Mile Road, Suite 3000,
Southfield, Michigan
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48034-8339 |
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| (Address of principal executive offices)
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(Zip Code) |
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| Registrant’s
telephone number, including area code: 248-353-2700 |
Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
TABLE OF CONTENTS
Item 1.01. Entry into a Material Definitive Agreement.
On August 31, 2007, Credit Acceptance Corporation (the “Company”) executed the Second Amended and
Restated Loan and Security Agreement (the “Revised Warehouse Facility”) among the Company, CAC
Warehouse Funding Corporation II, Wachovia Bank, National Association, JPMorgan Chase Bank, N.A.,
Variable Funding Capital Company, LLC, Park Avenue Receivables Company LLC, Wachovia Capital
Markets, LLC and Systems & Services Technologies, Inc. Under the Revised Warehouse Facility, the
Company may contribute purchased retail installment sales contracts, as well as loans to dealer
partners secured by such contracts, to a wholly owned special purpose entity and receive 80% of the
net aggregate eligible loan balance of the contributed contracts and loans in a non-recourse
financing. Borrowings under the facility generally bear interest at a floating rate equal to the
commercial paper rate plus 65 basis points. The Revised Warehouse Facility is attached as Exhibit
4(f)(93) to this Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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| 4(f)(93)
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Second Amended and Restated Loan and Security Agreement, dated August 31, 2007, among
the Company, CAC Warehouse Funding Corporation II, Wachovia Bank, National Association, JPMorgan
Chase Bank, N.A., Variable Funding Capital Company, LLC, Park Avenue Receivables Company LLC,
Wachovia Capital Markets, LLC and Systems & Services Technologies, Inc. |