CREDIT ACCEPTANCE CORPORATION CACC

election_required = True...he depositary would not only avoid the payment of brokerage commissions, but also would avoid any applicable odd lot discounts in a sale of the odd lot holder's shares. Any odd lot holder wishing to tender all of its shares pursuant to the tender offer should complete the section entitled "Odd Lots" in the letter of transmittal and, if applicable, in the notice of guaranteed delivery. PRORATION. If proration of tendered shares is required, CA will determine the proration factor as soon as practicable following the expiration date. Proration for each shareholder tendering shares, other than odd lot holders, shall be based on the ratio of the number of shares pro...

expiry = 2006-09-26...R CASH BY CREDIT ACCEPTANCE CORPORATION OF UP TO 3,500,000 SHARES OF ITS COMMON STOCK AT A PURCHASE PRICE NOT GREATER THAN $31.50 NOR LESS THAN $28.00 PER SHARE THE TENDER OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON SEPTEMBER 26, 2006, UNLESS THE TENDER OFFER IS EXTENDED. Credit Acceptance Corporation, a Michigan corporation ("CA"), is offering to purchase for cash up to 3,500,000 shares of its common stock, par value $.01 per share, upon the terms and subject to the co...

listed = True...of the conditions 20 described above, CA may be required to extend the expiration date. Any determination or judgment by CA concerning the events described above will be final and binding on all parties. SECTION 8. PRICE RANGE OF SHARES; DIVIDENDS Our shares are traded on the NASDAQ Global Market (formerly known as the Nasdaq National Market) under the trading symbol "CACC," although between July 19, 2005 and April 25, 2006, our shares were delisted from NASDAQ and were instead traded over the counter and reported by the Pink Sheets Electronic Quotation Service (the "Pink Sheets"). The following table sets forth the high and low s...

listed = True...their credit standing. As we report to the three national credit reporting agencies, a significant number of our customers improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the NASDAQ under the symbol CACC. For more information, visit creditacceptance.com.

listed = True...their credit standing. As we report to the three national credit reporting agencies, a significant number of our customers improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the NASDAQ under the symbol CACC. For more information, visit creditacceptance.com. 1

mechanism = DUTCH...rchase shares of its common stock, par value $.01 per share, in a tender offer. What will the purchase price for the shares be and what will be the form of payment?...................... We are conducting the tender offer through a procedure commonly called a modified "Dutch auction." This procedure allows you to select the price within a price range specified by us at which you are willing to sell your shares. The price range for the tender offer is $28.00 to $31.50 per share. We will select the lowest purchase price that will allow us to buy 3,500,000 shares or, if a lesser number of shares are properly tendered,...

mechanism = DUTCH...DITACCEPTANCE.COM NEWS RELEASE FOR IMMEDIATE RELEASE DATE: SEPTEMBER 27, 2006 INVESTOR RELATIONS: DOUGLAS W. BUSK TREASURER (248) 353-2700 EXT. 4432 IR@CREDITACCEPTANCE.COM NASDAQ SYMBOL: CACC CREDIT ACCEPTANCE CORPORATION ANNOUNCES PRELIMINARY RESULTS OF ITS MODIFIED DUTCH AUCTION TENDER OFFER SOUTHFIELD, MICHIGAN -- SEPTEMBER 27, 2006 -- CREDIT ACCEPTANCE CORPORATION (NASDAQ: CACC) (the "Company") announced the preliminary results of its modified Dutch auction tender offer, which expired at 5:00 p.m. on September 26, 2006. The Company commenced the tender offer on August 28, 2006 to purchase up to 3,500,000 share...

mechanism = DUTCH...48) 353-2700 CREDITACCEPTANCE.COM NEWS RELEASE FOR IMMEDIATE RELEASE DATE: OCTOBER 3, 2006 INVESTOR RELATIONS: DOUGLAS W. BUSK TREASURER (248) 353-2700 EXT. 4432 IR@CREDITACCEPTANCE.COM NASDAQ: CACC CREDIT ACCEPTANCE CORPORATION ANNOUNCES FINAL RESULTS OF ITS MODIFIED DUTCH AUCTION TENDER OFFER SOUTHFIELD, MICHIGAN -- OCTOBER 3, 2006 -- CREDIT ACCEPTANCE CORPORATION (NASDAQ: CACC) (the "Company") announced the final results of its modified Dutch auction tender offer, which expired at 5:00 p.m. Eastern Standard Time, on September 26, 2006. Credit Acceptance commenced the tender offer on August 28, 2006, to purchase...

must_tender_all = True...in our reasonable judgment, that either of these events will occur. See Section 8. What happens if more than 3,500,000 shares are tendered in the tender offer?.......... We will purchase shares: - first, from all holders of "odd lots" of less than 100 shares who properly tender all of their shares at or below the purchase price selected by us and do not properly withdraw them before the expiration date; - second, after purchasing the shares from the "odd lot" holders, from all other shareholders who properly tender shares at or below the purchase price selected by us, on a pro rata basis, subject to the conditional tender provisio...

price = USD 28.0-31.5...re commonly called a modified "Dutch auction." This procedure allows you to select the price within a price range specified by us at which you are willing to sell your shares. The price range for the tender offer is $28.00 to $31.50 per share. We will select the lowest purchase price that will allow us to buy 3,500,000 shares or, if a lesser number of shares are properly tendered, all shares that are properly tendered and not properly withdrawn. Al...

price = USD 28.0-31.5...ffer, which expired at 5:00 p.m. on September 26, 2006. The Company commenced the tender offer on August 28, 2006 to purchase up to 3,500,000 shares of its common stock at a price between $28.00 and $31.50 per share, net to the seller in cash, without interest. Georgeson Shareholder Communications, Inc. acted as information agent for the offer and Computershare Trust Company of New York acted as the depositary. Based on a prelimina...

price = USD 28.0-31.5...m. Eastern Standard Time, on September 26, 2006. Credit Acceptance commenced the tender offer on August 28, 2006, to purchase up to 3,500,000 shares of its common stock at a price between $28.00 and $31.50 per share, net to the seller in cash, without interest. Based on the final count by Computershare Trust Company of New York, the depositary for the tender offer, 20,552,028 shares of common stock were properly tendered and not wi...

threshold = 100...below the purchase price. ODD LOTS. For purposes of the tender offer, the term "odd lots" shall mean all shares properly tendered prior to the expiration date at prices at or below the purchase price and not properly withdrawn by any person referred to as an "odd lot holder" who owns beneficially or of record an aggregate of fewer than 100 shares and so certifies in the appropriate place on the letter of transmittal and, if applicable, on the notice of guaranteed delivery. To qualify for this preference, an odd lot holder must tender all shares owned beneficially or of record by the odd lot holder in accordance with the procedures described in Section 3. As set forth above, odd l...

txn_type = TENDER_OFFEREX-99.(A)(1)(I) 2 k08110exv99wxayx1yxiy.txt OFFER TO PURCHASE EXHIBIT (a)(1)(i) OFFER TO PURCHASE FOR CASH BY CREDIT ACCEPTANCE CORPORATION OF UP TO 3,500,000 SHARES OF ITS COMMON STOCK AT A PURCHASE PRICE NOT GREATER THAN $31.50 NOR LESS THAN $28.00 PER SHARE THE TENDER OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON SEPTEMBER 26, 2006, UNLESS THE TENDER OFFER IS EXTEN...

txn_type = TENDER_OFFER...tendered at $31.50 per share and 2,500,000 shares tendered at $29.50 per share by Donald Foss, the Company's Chairman of the Board. Of the total shares tendered, 1,506,867 were tendered pursuant to the guaranteed delivery procedure described in the Company's Offer to Purchase. Tenders made pursuant to the guaranteed delivery procedure will be accepted upon receipt of the related stock certificates or confirmation of book entry transfer, along with any other required documentation within three business days after the notice of guaranteed delivery was delivered to the depositary. Based on the preliminary count,...

txn_type = TENDER_OFFER...ies of guaranteed delivery shares. Because more than the maximum 3,500,000 shares were tendered, the Company purchased only a prorated portion of the shares tendered by each tendering shareholder, other than odd lot shareholders, as described in the Company's Offer to Purchase. The proration factor used by the Company in purchasing tendered shares was 17.0%. Credit Acceptance has purchased 3,500,000 tendered shares of its common stock at a price of $31.50 per share, at a total cost of approximately $110.3 million, which includes 3,313,629 shares owned by Donald Foss, the Company's Chairman of the Board. The Co...