UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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): January 1520, 2026

CREDIT ACCEPTANCE CORPORATION

(Exact name of registrant as specified in its charter)

Michigan

000-20202

38-1999511

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

25505 West Twelve Mile Road

Southfield,

Michigan

48034-8339

(Address of principal executive offices)

(Zip Code)

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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, $.01 par value

CACC

The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 15.~~01 Entry~~02. ~~Into~~Departure aof ~~Material~~Directors ~~Definitive~~or ~~Agreement~~Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 1520, 2026, each of Arthur L. Smith, Chief Analytics Officer of Credit Acceptance Corporation (referred to as the “Company”,” “Credit Acceptance”,” “we”,” “our”, or “us”), and ~~Credit~~Daniel ~~Acceptance~~A. ~~Funding~~Ulatowski, ~~LLC~~Chief ~~2021-1~~Sales ~~entered~~Officer ~~into~~of the ~~Sixth~~Company, ~~Amendment~~informed to the ~~Loan~~Company ~~and~~of ~~Security~~his ~~Agreement~~decision ~~and~~to ~~the~~retire ~~First~~as ~~Amendment~~an toofficer ~~the~~and ~~Backup~~employee ~~Servicing~~of ~~Agreement (~~the ~~“Amendments”)~~Company ~~with~~effective ~~Fifth~~February ~~Third Bank~~1, ~~National Association, extending the $100~~2026.0 ~~million~~The ~~asset-backed~~Company ~~non-recourse~~expects ~~secured financing~~ that weeach ~~entered~~of ~~into~~Mr. onSmith ~~January 29, 2021~~ and ~~to which we refer as Term ABS 2021-1~~Mr. ~~Under~~Ulatowski ~~the~~will ~~Amendments,~~serve ~~the~~in ~~date~~a onconsulting ~~which~~capacity ~~Term~~as ~~ABS~~a ~~2021~~non-1employee ~~will~~advisor ~~cease~~ to ~~revolve~~the ~~has~~Company ~~been~~following ~~extended~~his ~~from~~retirement ~~February~~date ~~17,~~until ~~2026~~July ~~to January 18~~31, ~~2028~~2026. ~~The interest rate on borrowings under Term ABS 2021-1 has been decreased from the Secured Overnight Financing Rate ("SOFR") plus 220 basis points to SOFR plus 140 basis points.~~

~~There~~In ~~were~~connection nowith ~~other~~Mr. ~~material~~Smith’s ~~changes~~retirement, the Company and Mr. Smith are expected to enter into a separation and advisory agreement pursuant to which, subject to his execution and non-revocation of a general release of claims, Mr. Smith will receive a monthly consulting fee of $66,758.01 for his services during the advisory services period. As a result of Mr. Smith’s retirement, which will constitute a retirement for purposes of his outstanding stock options in accordance with the terms of ~~Term~~the ~~ABS~~Company’s ~~2021-1~~Amended and Restated Incentive Compensation Plan and his stock option agreement, his stock options will remain exercisable through the applicable expiration date (December 30, 2026).

~~Fifth~~In ~~Third~~connection ~~Bank~~with Mr. Ulatowski’s retirement, ~~National~~the ~~Association~~Company and~~/or~~ ~~its~~Mr. ~~affiliates~~Ulatowski ~~have~~are ~~from~~expected ~~time~~ to ~~time~~enter ~~performed~~into ~~and~~a ~~may~~separation inand ~~the~~advisory ~~future~~agreement ~~perform~~pursuant ~~various~~to ~~financial advisory~~which, ~~commercial~~subject ~~banking,~~to ~~investment~~his ~~banking,~~execution and ~~other~~non-revocation ~~services~~of ~~for~~a usgeneral ~~and~~release ~~our~~of ~~affiliates~~claims, inMr. ~~the~~Ulatowski ~~ordinary~~will ~~course~~receive a monthly consulting fee of ~~business~~$64,166.67 for ~~which~~his ~~they~~services ~~have~~during ~~received~~the oradvisory ~~will~~services ~~receive~~period. ~~customary~~As ~~compensation.~~a ~~Fifth~~result ~~Third~~of ~~Bank~~Mr. Ulatowski’s retirement, ~~National~~which ~~Association~~will ~~and/or~~constitute ~~its~~a ~~affiliates~~retirement ~~are~~for ~~lenders,~~purposes ~~agents,~~of orhis ~~backup~~outstanding ~~servicers~~stock ~~under~~options ~~certain~~in accordance with the terms of ~~our~~the ~~revolving~~Company’s ~~secured~~Amended ~~warehouse~~and ~~facilities~~Restated Incentive Compensation Plan and ~~are~~his ~~parties~~stock tooption ~~certain~~agreement, ofhis ~~our~~stock ~~asset-backed~~options ~~securities~~will ~~transactions~~remain ~~other~~exercisable ~~than~~through ~~Term~~the ~~ABS~~applicable ~~2021-1~~expiration date (December 30, 2026).

~~The above description of the Amendments does not purport to be complete and is qualified in its entirety by the Amendments, a copy of which is attached as Exhibit 4.165 to this Form 8~~Forward-KLooking ~~and incorporated herein by reference.~~Statements

~~Item~~We 8claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of our forward-looking statements.~~01 Other~~ ~~Events~~Statements in this report that are not historical facts, such as those using terms like “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “assume,” “forecast,” “estimate,” “intend,” “plan,” “target,” or similar expressions, and those regarding our future results, plans, and objectives, are “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements represent our outlook only as of the date of this report. Actual results could differ materially from these forward-looking statements since the statements are based on our current expectations, which are subject to risks and uncertainties. Factors that might cause such a difference include, but are not limited to, the factors set forth in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission (the “SEC”) on February 12, 2025, and Item 1A in Part II of our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, filed with the SEC on October 30, 2025, and other risk factors discussed or listed from time to time in our reports filed with the SEC.

On January 15, 2026, we issued a press release relating to the Amendments. The press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.			Description
4.165			Sixth Amendment to the Loan and Security Agreement and the First Amendment to the Backup Servicing Agreement, dated as of January 15, 2026, among the Company, Credit Acceptance Funding LLC 2021-1, Fifth Third Bank, National Association, and Systems and Services Technologies, Inc.
99.1			Press release dated January 15, 2026
104			Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	CREDIT ACCEPTANCE CORPORATION
Date: January 20, 2026	By:	/s/ Jay D. Martin
Date: January 26, 2026	By:	/s/ Jay D. Martin
		Jay D. Martin
		Chief Financial Officer

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