EXHIBIT 99.1


[CREDIT ACCEPTANCE LOGO]

                                                        SILVER TRIANGLE BUILDING
                                        25505 WEST TWELVE MILE ROAD - SUITE 3000
                                                       SOUTHFIELD, MI 48034-8339
                                                                  (248) 353-2700
                                                        WWW.CREDITACCEPTANCE.COM

                                  NEWS RELEASE

FOR IMMEDIATE RELEASE                            DATE:   JANUARY 13, 2004

                                   INVESTOR RELATIONS:   DOUGLAS W. BUSK
                                                         CHIEF FINANCIAL OFFICER
                                                         (248) 353-2700 EXT. 432
                                                         IR@CREDITACCEPTANCE.COM

                                        NASDAQ SYMBOL:   CACC

              CREDIT ACCEPTANCE CORPORATION ANNOUNCES FINAL RESULTS
                   OF ITS MODIFIED DUTCH AUCTION TENDER OFFER

         SOUTHFIELD, MICHIGAN -- JANUARY 13, 2004 -- Credit Acceptance
Corporation (Nasdaq: CACC) today announced the final results of its modified
dutch auction tender offer, which expired at 5:00 p.m. Eastern Standard Time, on
January 6, 2004. Based on the final count by Computershare Trust Company of New
York, the depositary for the tender offer, 2,201,744 shares of common stock were
properly tendered and not withdrawn at prices between $12.50 and $17.00 per
share. The final count of shares purchased is less than the amount communicated
in the Company's preliminary announcement on January 7, 2004, by 3,388 shares,
reflecting failed delivery of these shares prior to 5:00 p.m. on January 9,
2004. Credit Acceptance has purchased all of the 2,201,744 tendered shares of
its common stock at a price of $17.00 per share, at a total cost of
approximately $37.4 million. The Company financed the purchase of its securities
in the tender offer from existing cash reserves and by borrowing under its $135
million revolving credit facility.

         As a result of the completion of the tender offer, Credit Acceptance
has approximately 39.9 million shares of common stock outstanding. Georgeson
Shareholder Communications, Inc. was the information agent for the offer.

Description of Credit Acceptance Corporation
Credit Acceptance is a financial services company specializing in products and
services for a network of automobile dealer-partners. Credit Acceptance provides
its dealer-partners with financing sources for consumers with limited access to
credit and delivers credit approvals instantly through the internet. Other
dealer-partner services include marketing, sales training and a wholesale
purchasing cooperative. Through its financing program, Credit Acceptance helps
consumers change their lives by providing them an opportunity to strengthen and
reestablish their credit standing by making timely monthly payments. Credit
Acceptance is publicly traded on the NASDAQ National Market under the symbol
CACC. For more information, visit www.creditacceptance.com.