Credit Acceptance Announces Increase and Extension of Revolving Secured Warehouse Facility

Group 1 - Credit Acceptance Corporation has increased the amount of Warehouse Facility V from $200.0 million to$250.0 million and extended the revolving period to December 29, 2027 [1] - The maturity of the Facility has been extended from December 27, 2027 to December 27, 2029, and the interest rate on borrowings has decreased from SOFR plus 245 basis points to SOFR plus 185 basis points [1] - As of December 5, 2024, there was no outstanding balance under the Facility [2] Group 2 - Credit Acceptance Corporation provides innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history [3] - The financing programs are offered through a nationwide network of automobile dealers, allowing sales to consumers who otherwise could not obtain financing [3] - The company reports to the three national credit reporting agencies, helping consumers improve their credit scores and access more traditional financing sources [4]