UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934

(Amendment No. 18)*

 

CREDIT ACCEPTANCE CORPORATION

(Name of Issuer)

 

Common Stock

(Title of Class of Securities)

 

225310 10 1

(CUSIP Number)

 

December 31, 2016

(Date of Event Which Requires Filing of this Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

¨Rule 13d-1(b)
¨Rule 13d-1(c)
xRule 13d-1(d)

 

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

 

Schedule 13G Page 2 of 5

 

CUSIP No. 225310 10 1

 

1. Names of Reporting Persons.  
  I.R.S. Identification Nos. of above persons (entities only).
  Donald A. Foss 
   
   
2. Check the Appropriate Box if a Member of a Group (See Instructions)
  (a)  x
  (b)  ¨
   
   
3. SEC Use Only
   
   
4. Citizenship or Place of Organization:  United States of America
   

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person With:

 5. Sole Voting Power:  3,254,492
   
   
6. Shared Voting Power:  0
   
   
7. Sole Dispositive Power:  3,254,492
   
   
8. Shared Dispositive Power:  0
 
 

9. Aggregate Amount Beneficially Owned by Each Reporting Person:  3,254,492
   
   
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  ¨
   
   
11. Percent of Class Represented by Amount in Row (9):  16.0%*
  *The percentage is calculated based upon total outstanding shares of 20,328,253 as of October 25, 2016 as set forth in the Issuer’s Form 10-Q filed on November 1, 2016.
   
   
12. Type of Reporting Persons (See Instructions):  IN

 

 

 

 

Schedule 13G Page 3 of 5

 

Item 1. (a)Name of Issuer: Credit Acceptance Corporation

 

Item 1. (b)Address of Issuer's Principal Executive Offices: 25505 West Twelve Mile Road, Southfield, MI 48034-8339

 

Item 2. (a)Name of Person Filing: Donald A. Foss

 

Item 2. (b)Address of Principal Business Office or, if none, Residence:

 

25505 West Twelve Mile Road, Southfield, MI 48034-8339

 

Item 2. (c)Citizenship: United States of America

 

Item 2. (d)Title of Class of Securities: Common Stock

 

Item 2. (e)CUSIP Number: 225310 10 1

 

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: Not applicable

 

 

 

 

Schedule 13G Page 4 of 5

 

Item 4. Ownership

 

Reporting
Person		  Amount
Beneficially
Owned		   Percent
of Class		   Sole Power
to Vote or
to Direct
the Vote		   Shared
Power to
Vote or to
Direct the
Vote		   Sole Power to
Dispose or to
Direct the
Disposition of		   Shared Power
to Dispose or to
Direct the
Disposition of		 
Donald A. Foss   3,254,492    16.0%   2,684,492    -    2,684,492    - 
              320,000(i)   -    320,000(i)   - 
              250,000(ii)   -    250,000(ii)   - 
              3,254,492    -    3,254,492    - 

 

* The percentage is calculated based upon total outstanding shares of 20,328,253 as of October 25, 2016 as set forth in the Issuer’s Form 10-Q filed on November 1, 2016.

 

(i) Shares held as collateral in a loan facility at Comerica Bank.

 

(ii) Shares held as collateral in a loan facility at UBS.

 

Item 5. Ownership of Five Percent or Less of a Class

 

Not applicable.

 

Item 6. Ownership of More than Five Percent on Behalf of Another Person

 

Not applicable.

 

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person

 

Not applicable.

 

Item 8. Identification and Classification of Members of the Group

 

Not applicable.

 

Item 9. Notice of Dissolution of Group

 

Not applicable.

 

Item 10. Certifications

 

Not applicable.

 

 

 

 

Schedule 13G Page 5 of 5

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: February 9, 2017

 

  By: /s/ Donald A. Foss
  Name:   Donald A. Foss