CREDIT ACCEPTANCE CORP — Director's Dealing 2017

May 9, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CREDIT ACCEPTANCE CORP (CACC)
CIK: 0000885550
Period of Report: 2017-05-05

Reporting Person: Watson Jill Foss (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-05	Common Stock	S	3500	$215.27	Disposed	460683	Indirect
2017-05-05	Common Stock	S	302	$215.27	Disposed	40174	Indirect
2017-05-05	Common Stock	S	3897	$215.27	Disposed	836983	Indirect
2017-05-05	Common STock	S	1218	$215.27	Disposed	159665	Indirect
2017-05-05	Common Stock	S	1019	$216.56	Disposed	459664	Indirect
2017-05-05	Common Stock	S	88	$216.56	Disposed	40086	Indirect
2017-05-05	Common Stock	S	1135	$216.56	Disposed	835848	Indirect
2017-05-05	Common Stock	S	355	$216.56	Disposed	159310	Indirect
2017-05-08	Common Stock	S	4065	$215.28	Disposed	455599	Indirect
2017-05-08	Common Stock	S	349	$215.28	Disposed	39737	Indirect
2017-05-08	Common Stock	S	4529	$215.28	Disposed	831319	Indirect
2017-05-08	Common Stock	S	1415	$215.28	Disposed	157895	Indirect
2017-05-08	Common Stock	S	42	$216.32	Disposed	455557	Indirect
2017-05-08	Common Stock	S	4	$216.32	Disposed	39733	Indirect
2017-05-08	Common Stock	S	47	$216.32	Disposed	831272	Indirect
2017-05-08	Common Stock	S	15	$216.32	Disposed	157880	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	58154	Indirect
Common Stock	58154	Indirect
Common Stock	2146	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $215.00 to $215.88, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence.

F2: These shares are owned of record by Jill Foss Watson, as Trustee of the Jill Foss Watson Living Trust.

F3: These shares are owned of record by Todd Watson, spouse of Jill Foss Watson, as trustee of the Jill Foss Watson Irrevocable Trust.

F4: These shares are owned of record by Jill Foss Watson, as Trustee of the Karol A. Foss Irrevocable Grandchildren's Trust.

F5: These shares are owned of record by Jill Foss Watson, as Trustee of the Jill Foss Watson 2016 Grantor Retained Annuity Trust.

F6: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $216.05 to $217.01, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence.

F7: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $215.00 to $215.90, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence.

F8: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $216.00 to $216.34, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the preceding sentence.

F9: These shares are owned of record by Todd Watson, spouse of Jill Foss Watson, as trustee of the Jill Foss Watson 2014 Children's Trust FBO Gwyneth Ellen Watson.

F10: These shares are owned of record by Todd Watson, spouse of Jill Foss Watson, as trustee of the Jill Foss Watson 2014 Children's Trust FBO Duncan Todd Watson.

F11: The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.