CREDIT ACCEPTANCE CORP 8-K

What Happened
Credit Acceptance Corporation announced on January 15, 2026 that it entered into a Sixth Amendment to the Loan and Security Agreement and a First Amendment to the Backup Servicing Agreement for its $100.0 million Term ABS 2021-1 facility. The amendments extend the date the facility ceases to revolve from February 17, 2026 to January 18, 2028 and reduce the interest spread on borrowings from SOFR + 220 basis points to SOFR + 140 basis points. The company also issued a press release about the amendments the same day.

Key Details

• Facility: $100.0 million asset-backed, non-recourse secured financing (Term ABS 2021-1) originally entered Jan 29, 2021.
• Revolver extension: cease-to-revolve date moved from Feb 17, 2026 → Jan 18, 2028.
• Interest rate change: spread reduced by 80 basis points (from SOFR+220bps to SOFR+140bps).
• Other: filing notes no other material changes; Fifth Third Bank, N.A. is the counterparty (and has provided/ may provide other services to the company).

Why It Matters
For investors, the amendment extends Credit Acceptance’s access to this $100M financing vehicle for nearly two more years and lowers the borrowing cost if the company draws under the facility, which can reduce interest expense while the facility is used. The change affects one of the company’s asset-backed warehouse facilities and was disclosed via Form 8-K and a press release; investors should view it as a financing update rather than an operational or earnings release.