SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

KNOBLAUCH MICHAEL W

(Last)

(First)

(Middle)

25505 WEST TWELVE MILE ROAD

(Street)

SOUTHFIELD

48034-8334

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
CREDIT ACCEPTANCE CORP [ CACC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP Loan Servicing

3. Date of Earliest Transaction (Month/Day/Year)
11/10/2009

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/10/2009		M		6,403	A	$3.625	50,569⁽¹⁾	D
Common Stock	11/10/2009		S		1,400	D	$34	49,169⁽¹⁾	D
Common Stock	11/10/2009		S		300	D	$34.01	48,869⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.015	48,769⁽¹⁾	D
Common Stock	11/10/2009		S		101	D	$34.02	48,668⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.025	48,568⁽¹⁾	D
Common Stock	11/10/2009		S		2	D	$34.03	48,566⁽¹⁾	D
Common Stock	11/10/2009		S		200	D	$34.035	48,366⁽¹⁾	D
Common Stock	11/10/2009		S		400	D	$34.04	47,966⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.05	47,866⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.055	47,766⁽¹⁾	D
Common Stock	11/10/2009		S		300	D	$34.07	47,466⁽¹⁾	D
Common Stock	11/10/2009		S		300	D	$34.08	47,166⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.1	47,066⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.11	46,966⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.12	46,866⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.145	46,766⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.15	46,666⁽¹⁾	D
Common Stock	11/10/2009		S		300	D	$34.19	46,366⁽¹⁾	D
Common Stock	11/10/2009		S		92	D	$34.21	46,274⁽¹⁾	D
Common Stock	11/10/2009		S		3	D	$34.23	46,271⁽¹⁾	D
Common Stock	11/10/2009		S		305	D	$34.24	45,966⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.25	45,866⁽¹⁾	D
Common Stock	11/10/2009		S		200	D	$34.265	45,666⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.27	45,566⁽¹⁾	D
Common Stock	11/10/2009		S		200	D	$34.275	45,366⁽¹⁾	D
Common Stock	11/10/2009		S		400	D	$34.29	44,966⁽¹⁾	D
Common Stock	11/10/2009		S		100	D	$34.3	44,866⁽¹⁾	D
Common Stock	11/10/2009		S		300	D	$34.31	44,566⁽¹⁾	D
Common Stock	11/10/2009		S		300	D	$34.33	44,266⁽¹⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$3.625	11/10/2009		M			6,403	⁽²⁾	12/31/2009	Common Stock	6,403	$0.00	64,377	D

Explanation of Responses:

1. Includes 1,844 shares of unvested time-based restricted stock under the Company's Incentive Compensation Plan.

2. The employee stock options vested in installments based on the Company's satisfaction of certain performance-related criteria and became vested in full on February 27, 2006.

Remarks:

This Form 4 is 1 of 2 filed for the exercise and sale of Mr. Knoblauch's employee stock options on November 10, 2009.

	/s/ Michael W. Knoblauch	11/12/2009
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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