8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 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): March 19, 2008

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)	(I.R.S. Employer Identification No.)
25505 West Twelve Mile Road, Suite 3000,
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:

o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

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

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

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

Item 7.01 Regulation FD Disclosure.

Credit Acceptance Corporation is furnishing materials, included as Exhibit 99.1 to this report and incorporated herein by reference, which were prepared for inclusion on its investor relations website. Credit Acceptance Corporation is not undertaking to update these materials. This report should not be deemed an admission as to the materiality of any information contained in these materials.

The information furnished in this report shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

           99.1 Materials added to website on or about March 19, 2008.

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
By:	/s/ Douglas W. Busk
	Douglas W. Busk
	Treasurer
		March 19, 2008

Exhibit Index

Exhibit No.	Description
99.1	Materials added to website on or about March 19, 2008

EX-99.1

EXHIBIT 99.1

Select Inquiries Received through March 19, 2008

1) Please discuss how the dislocations in the credit markets are affecting CACC. Specifically, your last asset-backed non-recourse secured financing took place at the end of October of 2007. Do you expect to do a similar transaction in the next two months? If not, what alternatives does CACC have in financing its origination of used car loans? Will these alternatives require you to slow down your origination loan growth (dollar and unit volumes) or affect your return on invested capital and your per share earning growth rate?

We ended 2007 with $797 million of invested capital. Capital grew rapidly in 2007 (32.4%) and we believe we have an opportunity to invest additional capital in our business at attractive rates of return. To do so will require us to raise additional debt in 2008.

The $797 million of capital at year end was comprised of $532 million of debt and $265 million in shareholder’s equity. Although the precise amount of debt we require will depend on profitability and rates of growth, our current plans call for a minimum of $750 million in total debt capacity by year-end.

Since the start of the year we have renewed our $325 million warehouse line of credit through February 11, 2009 and increased our bank line of credit to $153.5 million. This line of credit matures on June 20, 2009 and will be automatically extended to June 22, 2010 provided that we report net income of at least $5.0 million for the first quarter of 2008. In addition, we expect to have $100 million of term asset-backed debt outstanding at year-end. As a result, we will need to secure an additional $171.5 million to reach our target ($750 million — ($325 million + $153.5 million + $100 million).

We are currently working on a number of alternatives to secure the debt financing we need. These alternatives include further increasing the size of our bank line of credit, increasing the size of our warehouse line of credit, accessing capital through the long-term debt market, or an asset-backed securitization. It is difficult to characterize the probability of success at this time, except to say we have an excellent business with high returns on capital and a conservative balance sheet. We offer our lenders a very low risk financing opportunity since the amount we borrow is very conservative relative to the cash flows we expect from our assets.

If we are unsuccessful in this effort, we will be required to reduce origination levels. The impact of lower loan origination levels on our financial performance depends on the specific assumptions that are applied.

We are working diligently through each of the alternatives and are attempting to secure the capital we need as soon as possible. We will make public announcements at such time as we have additional news to report.

2) Could you please comment on the competitive environment since the beginning of the New Year?

Unit volumes are up 14.6% for the first two months of 2008, as compared to the same period of the prior year. The increase is at the high-end of our expectations since our pricing is more conservative than a year ago, and we experienced very high growth rates in January and February of 2007 (27.4%). We believe the growth rate so far this year is at least partially the result of a more favorable competitive environment.

3) And finally, do you expect the Economic Stimulus Act of 2008 to benefit the company in any meaningful way?

Loan originations and collections have historically been positively impacted by tax refunds received in the first quarter of each year. As a result, we are optimistic that tax refunds generated as a result of the Economic Stimulus Act will have a similarly positive impact on our mid-year results.