On December 27, 2012, Credit Acceptance Corporation executed the Fifth Amended and Restated Loan and Security Agreement dated as of December 27, 2012 among the Company, CAC Warehouse Funding Corporation II, Variable Funding Capital Company LLC, Wells Fargo Securities, LLC, and Wells Fargo Bank, National Association. The Warehouse Amendment extends the date on which $325.0 million revolving secured warehouse facility will cease to revolve from June 17, 2014 to December 27, 2015. The interest rate on borrowings under the facility has been decreased from the commercial paper rate plus 2.75% to the commercial paper rate plus 2.00%.

There were no other material changes to the terms of the facility. As of December 27, 2012 the company had $81.3 million outstanding under the facility.