CREDIT ACCEPTANCE CORP — Director's Dealing 2012

Sep 19, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CREDIT ACCEPTANCE CORP (CACC)
CIK: 0000885550
Period of Report: 2012-09-17

Reporting Person: VASSALLUZZO SCOTT J (Director, 10% Owner, Member of Section 13(d) Group)
Reporting Person: SMITH THOMAS W (10% Owner, Member of Section 13(d) Group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-09-17	Common Stock	S	15000	$90.3651	Disposed	44648	Indirect
2012-09-18	Common Stock	S	8272	$90.2053	Disposed	143483	Indirect
2012-09-19	Common Stock	S	11728	$89.5779	Disposed	131755	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	60475	Direct
Common Stock	1709407	Indirect
Common Stock	1501623	Indirect
Common Stock	71778	Indirect
Common Stock	145939	Indirect
Common Stock	49750	Indirect
Common Stock	722272	Direct

Footnotes

F1: These shares are owned directly by the Thomas W. Smith Foundation (the "Foundation") and are beneficially owned indirectly by Thomas W. Smith as trustee of the Foundation. Mr. Smith disclaims beneficial ownership of these shares in excess of his pecuniary interest under 16a-8(b)(2)(ii). The address for the Foundation is 323 Railroad Avenue, Greenwich, CT 06830.

F2: These shares are owned directly by investment accounts established for the benefit of certain family members of Scott J. Vassalluzzo. The inclusion of these shares in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or any other purpose and Mr. Vassalluzzo disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

F3: These shares are owned directly by Scott J. Vassalluzzo and include 5,475 restricted stock units that have vested under the Issuer's Incentive Compensation Plan. Each restricted stock unit represents and has a value equal to one share of common stock of Credit Acceptance Corporation. Shares will be distributed to Mr. Vassalluzzo on February 22, 2016.

F4: These shares are owned directly by Prescott Associates L.P. ("Prescott Associates"), a private investment limited partnership, and are beneficially owned indirectly by Prescott General Partners LLC ("PGP") as general partner of Prescott Associates. Messrs. Smith and Vassalluzzo are each a managing member of PGP. PGP disclaims beneficial ownership of these shares in excess of its pecuniary interest under Rule 16a-1(a)(2)(ii)(B). The address for Prescott Associates is 323 Railroad Avenue, Greenwich, CT 06830.

F5: These shares are owned directly by Idoya Partners L.P. ("Idoya"), a private investment limited partnership, and are beneficially owned indirectly PGP as general partner of Idoya. PGP disclaims beneficial ownership of these shares in excess of its pecuniary interest under Rule 16a-1(a)(2)(ii)(B). The address for Idoya is 323 Railroad Ave, Greenwich, CT 06830.

F6: These shares are owned directly by Prescott International Partners L.P. ("PIP"), a private investment limited partnership, and are beneficially owned indirectly by Prescott General Partners LLC ("PGP") as general partner of PIP. PGP disclaims beneficial ownership of these shares in excess of its pecuniary interest under Rule 16a-1(a)(2)(ii)(B). The address for PIP is 323 Railroad Avenue, Greenwich, CT 06830.

F7: These shares are owned directly by the Prescott Investors Profit Sharing Trust (the "Trust") and are beneficially owned indirectly by Messrs. Smith and Vassalluzzo as trustees of the Trust. Each of Messrs. Smith and Vassalluzzo disclaims beneficial ownership of these shares in excess of his pecuniary interest under Rule 16a-8(b)(2)(ii). The address of the Trust is 323 Railroad Avenue, Greenwich, CT 06830.

F8: These shares are owned directly by investment accounts established for the benefit of certain family members of Mr. Smith. The inclusion of these shares in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or any other purpose and Mr. Smith disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

F9: These shares are owned directly by Thomas W. Smith.

F10: The inclusion of these shares in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or any other purpose and each of Messrs. Smith and Vassalluzzo disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.