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): FEBRUARY 9, 2005
CREDIT ACCEPTANCE CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Commission File Number 000-20202
Michigan 38-1999511
(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)
25505 W. Twelve Mile Road, Suite 3000 48034-8339
Southfield, Michigan (Zip Code)
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (248) 353-2700
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
140.14a-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))
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
(a) On February 9, 2005, Credit Acceptance Corporation (the "Company") executed
Amendment No. 2, dated January 21, 2005, to the Loan and Security Agreement,
dated September 30, 2003, among the Company, CAC Warehouse Funding Corporation
II, Wachovia Bank, National Association, Variable Funding Capital Corporation,
and Wachovia Capital Markets, LLC. The amendment increases the facility advance
rate and modifies certain other covenants required under the Loan and Security
Agreement, which governs the Company's revolving warehouse line. The amendment
is attached as Exhibit 4(f)(65) to this Form 8-K and incorporated herein by
reference.
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
4 (f)(65) Amendment No. 2, dated January 21, 2005, to the Loan
and Security Agreement, dated September 30, 2003,
among the Company, CAC Warehouse Funding Corporation
II, Wachovia Bank, National Association, Variable
Funding Capital Corporation, and Wachovia Capital
Markets, LLC.
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
(Registrant)
By: /s/ Douglas W. Busk
-----------------------
Douglas W. Busk
Treasurer
February 11, 2005
INDEX OF EXHIBITS
EXHIBIT NO. DESCRIPTION
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4 (f)(65) Amendment No. 2, dated January 21, 2005, to the Loan and Security
Agreement, dated September 30, 2003, among the Company, CAC
Warehouse Funding Corporation II, Wachovia Bank, National
Association, Variable Funding Capital Corporation, and Wachovia
Capital Markets, LLC.