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): May 5, 2006

CREDIT ACCEPTANCE CORPORATION
__________________________________________
(Exact name of registrant as specified in its charter)

Michigan	000-20202	38-1999511
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	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:

[  ]  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 240.14a-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 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.

(c) Exhibits.

99.1 Materials added to website on or about May 5, 2006.

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
May 5, 2006	By:	/s/ Douglas W. Busk
		Name: Douglas W. Busk
		Title: Treasurer

Exhibit Index

Exhibit No.	Description
99.1	Materials added to website on or about May 5, 2006.

EX-99.1

1. Glad to see things going well at CACC. Just a suggestion — add a bit of color in the form of commentary to the press release. I know all the numbers are there and that’s good but, most people would appreciate some commentary from management that helps illuminate what’s happening in the field, competitively etc. What is behind the numbers or driving the numbers (loans per dealer etc)?

Why not have an investor call. It would help communicate managements priorities to the rest of the owners and would help more people understand what is a unique (not easy to understand) business model. The investor call (or transcript) could even be a highlight call w/o questions that is downloadable from the website. This is what we do, this is how we account for it, these are our priorities, this is our recent progress and current challenges etc.

I know CACC has been “alone in a corner for years” and in many ways that has served shareholders well, but with our accounting back on track and as a $1bn market cap listed company we shouldn’t be afraid to tell our story.

Although we have considered this and understand the practice you describe is a common one, we have no current plans to host a regular conference call. Our current approach for communicating with shareholders is a combination of (1) publishing a comprehensive Annual Report, (2) answering questions in writing via our website.

We believe this strategy is preferable to other approaches for several reasons. First, we believe we can provide more thoughtful and substantive answers in writing. Second, every shareholder receives the same information at the same time. Third, it is more efficient since questions only need be answered once. Fourth, over time as the library of previous communications builds, an investor who is unfamiliar with our Company can efficiently get up to speed.

Although we value efficiency in this area, we take our responsibility to provide information to shareholders seriously. If, after reading our most recent Annual Report, you still have questions regarding the topics you mention, please feel free to submit a question through the website and we will be happy to provide an answer.

2. It doesn’t appear the shares repurchased in the auction in March were not factored into this earnings report.  Is that accurate and I assume they will be in the 2nd Q?

The stock repurchased during the 1^st quarter was factored into our EPS calculation.  The number of shares used in the EPS calculation is the weighted average shares outstanding during the quarter.  As the majority of the repurchases occurred on March 15 as a result of the Dutch Tender, repurchases only reduced our weighted average share calculation by about 825,000 shares for the 1^st quarter.