Document:

<PAGE>

                                                                Exhibit 4(c)(19)

                                                                  EXECUTION COPY

                                 FIRST AMENDMENT
                                       TO
                  FOURTH AMENDED AND RESTATED CREDIT AGREEMENT

     This FIRST AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT
("First Amendment") is made as of September 20, 2006 by and among Credit
Acceptance Corporation, a Michigan corporation ("Company"), Comerica Bank and
the other banks signatory hereto (individually, a "Bank" and collectively, the
"Banks") and Comerica Bank, as administrative agent for the Banks (in such
capacity, "Agent").

                                    RECITALS

     A. Company, Agent and the Banks entered into that certain Fourth Amended
and Restated Credit Acceptance Corporation Credit Agreement dated as of February
7, 2006 (the "Credit Agreement") under which the Banks renewed and extended (or
committed to extend) credit to the Company, as set forth therein.

     B. The Company has requested that Agent and the Banks agree to certain
amendments to the Credit Agreement and Agent and the Banks are willing to do so,
but only on the terms and conditions set forth in this First Amendment.

     NOW, THEREFORE, Company, Agent and the Banks agree:

1.   Section 1 of the Credit Agreement is hereby amended by amending and
     restating, the following definitions:

     "Borrowing Base Limitation" shall mean, as of any date of determination, an
     amount equal to (i) seventy-five percent (75%) of Dealer Loans Receivable,
     plus (ii) seventy -five percent (75%) of the Purchased Contract Balance,
     minus (iii) the Hedging Reserve and minus (iv) the aggregate principal
     amount outstanding from time to time of any Debt (other than the
     Indebtedness) secured by any of the Collateral; provided, however, that, at
     any time, the portion of the Borrowing Base Limitation derived from the
     Purchased Contract Balance under clause (ii) of this definition shall not
     exceed a maximum of twenty-five percent (25%) of the aggregate Borrowing
     Base Limitation; and provided, further, that if, at any time, the advance
     rates under any Securitization Transaction (other than a Bridge
     Securitization) set forth in the related Securitization Documents
     ("Securitization Advance Rates") are lower than the applicable advance
     rates expressed in clauses (i) or (ii) of this definition ("Credit
     Agreement Advance Rates"), the applicable Credit Agreement Advance Rates
     shall be deemed to be automatically reduced to the lowest Securitization
     Advance Rates then in effect, such reduction to remain in effect so long as
     the Securitization Advance Rates are lower than the Credit Agreement
     Advance Rates set forth in this definition. At no time, however, shall the
     Credit Agreement Advance Rates exceed seventy-five percent (75%)."

<PAGE>

     "Dealer Loans Receivable" shall mean, as of any applicable date of
     determination, the amount of loans receivable, as such amount would appear
     in the Consolidated financial statements of the Company and its
     Subsidiaries prepared in accordance with GAAP (net of any reserves
     established by the Company as an allowance for credit losses related to
     such dealer loans receivable, provided that, for purposes of determining
     the Borrowing Base and compliance with the covenants under Section 7.4
     through 7.7 hereof, Dealer Loans Receivable shall not include (a) the net
     book value of Dealer Loan Pools transferred or encumbered pursuant to a
     Permitted Securitization (whether or not attributable to the Company under
     GAAP), unless and until such Dealer Loan Pools are reassigned to the
     Company or a Domestic Subsidiary of the Company or such encumbrances are
     discharged and a Uniform Commercial Code financing statement or amendment
     is on file to perfect or re-perfect, as the case may be, the Lien over such
     pools (and the Dealer Advances and other financial assets covered thereby)
     in favor of Agent for and on behalf of the Banks,or (b) Dealer Loans which
     are not secured by the Installment Contracts relating thereto."

     "Permitted Securitization(s)" shall mean each transfer or encumbrance (each
     a "disposition") of (I) specific Dealer Loan Pools (and any interest in and
     lien on the Installment Contracts, motor vehicles, and other rights and
     financial assets relating thereto) or specific Purchased Contracts (and any
     interest in and lien on motor vehicles and other rights and financial
     assets relating thereto, or (II) the trust certificate issued to evidence
     the residual interest in Dealer Loan Pools and other financial assets
     transferred or encumbered pursuant to a prior Permitted Securitization, in
     each case by the Company or one or more of its Subsidiaries to one or more
     Special Purpose Subsidiaries or, in the case of a Securitization
     Transaction described in Clause (II) of this definition (a "Bridge
     Securitization"), from one Special Purpose Subsidiary to another Special
     Purpose Subsidiary, conducted in accordance with the following
     requirements:

          (a) Each disposition in clause (I) shall identify with reasonable
          certainty the specific Dealer Loan Pools or Purchased Contracts, as
          applicable, covered by such disposition; and (x) such Dealer Loan
          Pools or Purchased Contracts shall have performance and other
          characteristics so that the quality of such Dealer Loan Pools or
          Purchased Contracts, as the case may be, is comparable to, but not
          materially better than, the overall quality of the Company's Dealer
          Loan Pools or Purchased Contracts, as applicable, as determined in
          good faith by the Company in its reasonable discretion or (y) with
          respect to any such assets assigned to an uncapped Dealer Loan Pool
          subsequent to such Dealer Loan Pool becoming a Securitized Pool in
          conformity with the standards set forth in clause (x) of this
          subparagraph (a), the assets covered by such dispositions were
          assigned to such Dealer Loan Pool in the order such assets were
          originated and without the exercise of any discretion by the Company;

          (b) Both before and after giving effect to such disposition (and
          taking into account any reduction in the Indebtedness with the
          proceeds of such disposition as required hereunder), the Company shall
          be in compliance with the Borrowing Base Limitation, and, in the case
          of any disposition to an uncapped Securitized Pool, none of the assets
          covered by such disposition were included, prior to such

                                       2

<PAGE>

          disposition, in the most recent Borrowing Base Certificate delivered
          to Agent under Section 7.3(d);

          (c) Each such Securitization Transaction shall be structured on the
          basis of the issuance of Debt or other similar securities by one or
          more Special Purpose Subsidiaries which Debt or other securities shall
          be without recourse to Company and its other Subsidiaries, except to
          the extent of normal and customary representations and warranties
          given as of the date of each such disposition, and not as continuing
          representations and warranties, and otherwise on normal and customary
          terms and conditions for comparable asset based securitization
          transactions, which may include Cleanup Call provisions (it being
          understood that, for purposes of this subparagraph (c), the terms and
          conditions governing Securitization Transactions made by the Company
          prior to the date of this Agreement shall be deemed to have been made
          on normal and customary terms and conditions for comparable
          securitization transactions);

          (d) Concurrently with each such disposition (except for dispositions
          to an uncapped Securitized Pool whether or not pursuant to a
          revolving, expansion or relending feature included in a Prior
          Securitization (for purposes of this definition, a "Revolving
          Feature"), in each case to the extent that no disposition proceeds are
          available as a result of such dispositions for application hereunder),
          the net proceeds of such disposition (net of customary third party
          transaction fees and expenses and, if applicable, after applying the
          proceeds of such disposition to repay any Debt to which the related
          financial assets are subject):

          shall be applied to reduce the principal balance outstanding under the
          Revolving Credit (to the extent then outstanding, and including the
          aggregate amount of drawings made under any Letter of Credit for which
          the Agent has not received full payment) by the amount of such net
          proceeds, subject to the right to reborrow in accordance with this
          Agreement;

          provided, however, that to the extent that, on the date any reduction
          of the principal balance outstanding under the Revolving Credit shall
          be required under this clause (d), the Indebtedness under the
          Revolving Credit is being carried, in whole or in part, at the
          Eurodollar-based Rate and no Default or Event of Default has occurred
          and is continuing, the Company may, after prepaying that portion of
          the Indebtedness then carried at the Prime-based Rate, deposit the
          amount of such required principal reductions in a cash collateral
          account to be held by the Agent, for and on behalf of the Banks (which
          shall be an interest-bearing account), on such terms and conditions as
          are reasonably acceptable to Agent and the Majority Banks and, subject
          to the terms and conditions of such cash collateral account, sums on
          deposit therein shall be applied (until exhausted) to reduce the
          principal balance of the Revolving Credit on the last day of each
          Interest Period attributable to the applicable Eurodollar-based
          Advances of the Revolving Credit; and provided further that Agent and
          the Banks acknowledge that any proceeds of any such Debt incurred
          pursuant to a Permitted Securitization remaining after the application
          of such proceeds as required by this clause (d) may be held or
          invested

                                       3

<PAGE>

          in Permitted Investments or otherwise invested or applied in any
          manner not prohibited by this Agreement; and

          (e) Both immediately before and after such disposition, no Default or
          Event of Default (whether or not related to such disposition) has
          occurred and is continuing.

     In connection with each Permitted Securitization to be conducted hereunder,
     the Company shall provide the following:

               (i) other than in the case of a Bridge Securitization, to the
               Agent, (x) not less than three (3) Business Days prior to the
               date of consummation thereof (or such lesser period as approved
               by Agent) or (y) solely in the case of dispositions to uncapped
               Securitized Pools pursuant to a Revolving Feature, not less than
               three (3) Business Days prior to the date of the release of the
               financial assets covered by such disposition (or such lesser
               period as approved by Agent), (I) a certification that, after
               giving effect to such disposition, it will be in compliance with
               the Borrowing Base Limitation and that none of the assets covered
               by such disposition were included in the most recent quarterly
               Borrowing Base Certificate delivered to Agent under Section
               7.3(d) hereof prior to such disposition or (II) a new Borrowing
               Base Certificate (and any supporting information reasonably
               required by the Agent) dated as of the proposed date of the
               applicable disposition or release and, based on projected
               information, giving effect to such disposition and confirming
               compliance with the Borrowing Base Limitation;

               (ii) to the Agent and the Banks (x) not less than five (5)
               Business Days prior to the date of consummation thereof (or such
               lesser period as approved by Agent), proposed drafts of the
               material Securitization Documents covering the applicable
               Securitization Transaction (and the term sheet or commitment
               relating thereto) and (y) within ten (10) Business Days following
               the consummation thereof, executed copies of such Securitization
               Documents, including, if applicable, a summary of any material
               changes from the draft documents delivered to Agent and the Banks
               prior thereto, except that if such Securitization Transaction
               consists solely of dispositions pursuant to a Revolving Feature,
               the Company shall only be required (I) under clause (x) of this
               subparagraph (ii), to deliver to Agent, not less than three (3)
               Business Days prior to the consummation thereof (or such lesser
               period as approved by Agent), a certification that the applicable
               Securitization Documents remain in effect substantially in the
               form previously furnished to Agent and the Banks (or identifying
               any material changes, and attaching any proposed amendment,
               supplement or other document delivered under such prior
               Securitization Documents to effect such dispositions) and (II)
               under clause (y) of this subparagraph (ii), to deliver to Agent
               executed copies of any such amendment, supplement or other
               document;

                                       4

<PAGE>

               (iii) except in the case of dispositions to uncapped Securitized
               Pools or any Bridge Securitization, to the Agent, not less than
               three (3) Business Days prior to the date of consummation thereof
               (or such lesser period as approved by Agent), (I) a schedule
               substantially in the form delivered for Permitted Securitizations
               under the Prior Credit Agreement identifying the specific Dealer
               Loan Pools or Purchased Contracts, as applicable, proposed to be
               covered by such transaction, accompanied by (II) a request that
               the Agent release such assets from the Lien of the Security
               Agreement and a certification that the proposed Securitization
               Transaction (and related dispositions) constitutes a Permitted
               Securitization hereunder, whereupon the financial assets covered
               by such dispositions which have been originated prior to the date
               of such release shall be promptly released by Agent; and in the
               case of a disposition to an uncapped Securitized Pool in a Prior
               Securitization, all remaining financial assets assigned
               thereafter to the applicable uncapped Securitized Pool in the
               ordinary course, whether originated before or after the date of
               release, shall be so released and the Lien of the Security
               Agreement shall be deemed not to attach to any such assets when
               the Company or any of its Subsidiaries subsequently acquires
               rights in, to or under such assets and such assets are assigned
               to an uncapped Securitized Pool; and

               (iv) only if the applicable Securitization Transaction is not
               related to a Prior Securitization, is a Bridge Securitization or
               involves the disposition or release of any assets which were
               covered by the most recent quarterly Borrowing Base Certificate
               delivered to Agent under Section 7.3(d) hereof and the aggregate
               net book value of the Dealer Loan Pools (as included in Dealer
               Loans Receivable) or Purchased Contracts, as applicable, covered
               by such dispositions (or related series of dispositions) in any
               calendar month exceeds or would exceed (after giving effect to
               any proposed disposition) Seven Million Five Hundred Thousand
               Dollars ($7,500,000), collection information regarding the
               Installment Contracts securing the Dealer Loan Pools or Purchased
               Contracts of the Company and its Subsidiaries proposed to be
               covered by such transaction (with evidence supporting its
               determination under clause (x) of subparagraph (a) of this
               definition, if applicable, including without limitation a "static
               pool analysis" comparable to the static pool analysis required to
               be delivered under Section 7.3(c) hereof with respect to such
               Dealer Loan Pools or Purchased Contracts)."

2.   Section 7 of the Credit Agreement is amended by amending and restating the
     preamble thereof, as follows:

     "Company covenants and agrees that it will, and, as applicable, it will
     cause its Subsidiaries (but excluding, for purposes of Sections 7.1, 7.3
     through 7.8, 7.17 and 7.18 through 7.20 hereof, any Special Purpose
     Subsidiary) to, so long as any of the Banks are committed to make any
     Advances under this Agreement and thereafter so long as any Indebtedness
     remains outstanding under this Agreement:"

                                       5

<PAGE>

3.   Section 8 of the Credit Agreement is amended by amending and restating
     clause (j) of Section 8.8, as follows:

     "(j) Investments in any Subsidiary (including, without limitation, any
     Special Purpose Subsidiary) from and after the date hereof, consisting of
     (v) dispositions made pursuant to a Permitted Securitization and the
     resultant Debt issued by a Special Purpose Subsidiary to another Subsidiary
     as part of a Permitted Securitization, in each case to the extent
     constituting Investments hereunder; (w) advances by Company (as servicer or
     administrative agent) which are permitted under the definition of Permitted
     Guaranties; (x) the repurchase or replacement from and after the Effective
     Date hereof of an aggregate amount (based on the net book value thereof)
     not to exceed $5,000,000 in Dealer Loan Pools or Purchased Contracts or
     related pools thereof subsequently determined not to satisfy the
     eligibility standards contained in the applicable Securitization Documents
     relating to a Permitted Securitization or otherwise required to be
     repurchased by the applicable Securitization Documents entered into in
     compliance with the terms of this Agreement, so long as (i) such
     replacement is accompanied by the repurchase of or release of encumbrances
     on such financial assets previously transferred or encumbered pursuant to
     such securitization and in the amount thereof, (ii) any replacement Dealer
     Loan Pools or Purchased Contracts which are selected by Company according
     to the requirements set forth in clause (a) of the definition of Permitted
     Securitization and (iii) such replacements are made at a time when (both
     before and after giving effect thereto) no Default or Event of Default has
     occurred and is continuing; (y) capital contributions made from time to
     time to a Special Purpose Subsidiary in connection with a Bridge
     Securitization concurrent with the purchase of the applicable trust
     certificate, each such capital contribution in an amount not to exceed the
     value of the trust certificate being purchased by such Special Purpose
     Subsidiary pursuant to such Bridge Securitization so long as each such
     Investment (i) is accompanied by the concurrent receipt by the Company of
     proceeds from the sale of the applicable trust certificate equal to 100% of
     the value of such trust certificate and (ii) is effected by ledger entries,
     cross receipts and similar documentation and not by the transfer of cash or
     other financial assets (other than the trust certificate), plus cash
     Investments from time to time, to the extent necessary to cover the
     establishment of reserves (A) for facility fees due in respect of such
     Bridge Securitization and (B) in connection with each advance under a
     Bridge Securitization, for up to one year's interest due in respect of such
     advance; (z) amounts required to fund any Cleanup Call under the terms of a
     Permitted Securitization, provided, however, that in connection with any
     Cleanup Call under a Permitted Securitization where the trust certificate
     representing the residual interest therein has been assigned or encumbered
     pursuant to a subsequent Bridge Securitization, the take-out in respect of
     such trust certificate under such Bridge Securitization shall have been
     executed concurrently with such Cleanup Call and the aggregate amount
     invested or otherwise expended to fund both such Cleanup Call and the
     related take-out does not exceed the maximum amount permitted to be
     invested to fund such Cleanup Call under the definition thereof, plus any
     amounts advanced toward the repurchase by the Company or its Subsidiaries
     of any related financial assets in connection with such takeout, to the
     extent such repurchases have been made on terms not materially less
     favorable to the Company or such repurchasing Subsidiary, taking into
     account the applicable Securitization Advance Rates, than would be usual
     and customary in similar transactions

                                       6

<PAGE>

     between Persons dealing at arms length; and (zz) the disposition to the
     Company or any Subsidiary (other than a Special Purpose Subsidiary) of the
     capital stock of any Special Purpose Subsidiary;

4.   This First Amendment shall become effective, according to the terms and as
     of the date hereof, upon satisfaction by the Company of the following
     conditions:

          (a) Agent shall have received counterpart originals of (i) this First
          Amendment, duly executed and delivered by the Company and the
          requisite Banks, and (ii) that certain Reaffirmation of Certain Loan
          Documents, dated as of the date hereof, duly executed and delivered by
          the applicable Subsidiaries in form satisfactory to Agent; and

          (b) Agent shall have received from a responsible senior officer of the
          Company a certification (i) that all necessary actions have been taken
          by the Company to authorize execution and delivery of this First
          Amendment, supported by such resolutions or other evidence of
          corporate authority or action as reasonably required by Agent and the
          Majority Banks and that no consents or other authorizations of any
          third parties are required in connection therewith; and (ii) that,
          after giving effect to this First Amendment, no Default or Event of
          Default has occurred and is continuing on the proposed effective date
          of the First Amendment.

5.   The Company ratifies and confirms, as of the date hereof and after giving
     effect to the amendments contained herein, each of the representations and
     warranties set forth in Sections 6.1 through 6.18, inclusive, of the Credit
     Agreement and acknowledges that such representations and warranties are and
     shall remain continuing representations and warranties during the entire
     life of the Credit Agreement.

6.   Except as specifically set forth above, this First Amendment shall not be
     deemed to amend or alter in any respect the terms and conditions of the
     Credit Agreement, any of the Notes issued thereunder or any of the other
     Loan Documents, or to constitute a waiver by the Banks or Agent of any
     right or remedy under or a consent to any transaction not meeting the terms
     and conditions of the Credit Agreement, any of the Notes issued thereunder
     or any of the other Loan Documents.

7.   Unless otherwise defined to the contrary herein, all capitalized terms used
     in this First Amendment shall have the meaning set forth in the Credit
     Agreement.

8.   This First Amendment may be executed in counterpart in accordance with
     Section 13.10 of the Credit Agreement.

9.   This First Amendment shall be construed in accordance with and governed by
     the laws of the State of Michigan.

                    [SIGNATURES FOLLOW ON SUCCEEDING PAGES]

                                       7

<PAGE>

     WITNESS the due execution hereof as of the day and year first above
written.

                                        COMERICA BANK,
                                        as Agent

                                        By: /s/ Harve C. Light
                                            ------------------------------------
                                            Harve C. Light
                                        Its: Vice President

                                                              SIGNATURE PAGE FOR
                                                             CAC FIRST AMENDMENT

<PAGE>

                                        CREDIT ACCEPTANCE CORPORATION

                                        By: /s/ Douglas W. Busk
                                            ------------------------------------
                                            Douglas W. Busk
                                        Its: Treasurer

                                                              SIGNATURE PAGE FOR
                                                             CAC FIRST AMENDMENT

<PAGE>

                                        BANKS:

                                        COMERICA BANK

                                        By: /s/ Harve C. Light
                                            ------------------------------------
                                            Harve C. Light
                                        Its: Vice President

                                                              SIGNATURE PAGE FOR
                                                             CAC FIRST AMENDMENT

<PAGE>

                                        BANK OF AMERICA, N.A.

                                        By: /s/ Charles W. Hagel
                                            ------------------------------------
                                            Charles W. Hagel
                                        Its: Senior Vice President

                                                              SIGNATURE PAGE FOR
                                                             CAC FIRST AMENDMENT

<PAGE>

                                        LASALLE BANK NATIONAL ASSOCIATION

                                        By: /s/ David H. Sherer
                                            ------------------------------------
                                            David H. Sherer
                                        Its: Senior Vice President

                                                              SIGNATURE PAGE FOR
                                                             CAC FIRST AMENDMENT

<PAGE>

                                        HARRIS N.A.

                                        By: /s/ Paul Rubrich
                                            ------------------------------------
                                            Paul Rubrich
                                        Its: Vice President

                                                              SIGNATURE PAGE FOR
                                                             CAC FIRST AMENDMENT

<PAGE>

                                        FIFTH THIRD BANK
                                        (EASTERN MICHIGAN)

                                        By: /s/ John Antonczak
                                            ------------------------------------
                                            John Antonczak
                                        Its: Vice President

                                                              SIGNATURE PAGE FOR
                                                             CAC FIRST AMENDMENT

<PAGE>

                                        NATIONAL CITY BANK OF THE MIDWEST,
                                        FORMERLY KNOWN AS NATIONAL CITY BANK OF
                                        MICHIGAN/ILLINOIS

                                        By: /s/ Michael Kell
                                            ------------------------------------
                                            Michael Kell
                                        Its: Vice President<PAGE>

                                                               Exhibit 4(c)(20)

                                SECOND AMENDMENT
                                       TO
                  FOURTH AMENDED AND RESTATED CREDIT AGREEMENT

     This SECOND AMENDMENT TO FOURTH AMENDED AND RESTATED CREDIT AGREEMENT
("Second Amendment") is made as of January 19, 2007 by and among Credit
Acceptance Corporation, a Michigan corporation ("Company"), Comerica Bank and
the other banks signatory hereto (individually, a "Bank" and collectively, the
"Banks") and Comerica Bank, as administrative agent for the Banks (in such
capacity, "Agent").

                                    RECITALS

     A. Company, Agent and the Banks entered into that certain Fourth Amended
and Restated Credit Acceptance Corporation Credit Agreement dated as of February
7, 2006 (as amended by that First Amendment dated September 20, 2006, the
"Credit Agreement") under which the Banks renewed and extended (or committed to
extend) credit to the Company, as set forth therein.

     B. The Company has requested that Agent and the Banks agree to certain
amendments to the Credit Agreement and Agent and the Banks are willing to do so,
but only on the terms and conditions set forth in this Second Amendment.

     NOW, THEREFORE, Company, Agent and the Banks agree:

1.   Section 1 of the Credit Agreement is hereby amended by amending and
     restating, the following definitions:

     "Borrowing Base Limitation" shall mean, as of any date of determination, an
     amount equal to (i) seventy-five percent (75%) of Dealer Loans Receivable,
     plus (ii) seventy -five percent (75%) of the Purchased Contract Balance,
     minus (iii) the Hedging Reserve and minus (iv) the aggregate principal
     amount outstanding from time to time of any Debt (other than the
     Indebtedness) secured by any of the Collateral; provided, however, that if,
     at any time, the advance rates under any Securitization Transaction (other
     than a Bridge Securitization) set forth in the related Securitization
     Documents ("Securitization Advance Rates") are lower than the applicable
     advance rates expressed in clauses (i) or (ii) of this definition ("Credit
     Agreement Advance Rates"), the applicable Credit Agreement Advance Rates
     shall be deemed to be automatically reduced to the lowest Securitization
     Advance Rates then in effect, such reduction to remain in effect so long as
     the Securitization Advance Rates are lower than the Credit Agreement
     Advance Rates set forth in this definition. At no time, however, shall the
     Credit Agreement Advance Rates exceed seventy-five percent (75%)."

<PAGE>

2.   Exhibit O to the Credit Agreement is hereby amended and restated by
     deleting such Exhibit and inserting the replacement Exhibit O attached
     hereto as Attachment 1 in its place.

3.   This Second Amendment shall become effective, according to the terms and as
     of the date hereof, upon satisfaction by the Company of the following
     conditions:

          (a) Agent shall have received counterpart originals of (i) this Second
          Amendment, duly executed and delivered by the Company and the
          requisite Banks.

          (b) Agent shall have received from a responsible senior officer of the
          Company a certification (i) that all necessary actions have been taken
          by the Company to authorize execution and delivery of this Second
          Amendment, supported by such resolutions or other evidence of
          corporate authority or action as reasonably required by Agent and the
          Majority Banks and that no consents or other authorizations of any
          third parties are required in connection therewith; and (ii) that,
          after giving effect to this Second Amendment, no Default or Event of
          Default has occurred and is continuing on the proposed effective date
          of the Second Amendment.

4.   The Company ratifies and confirms, as of the date hereof and after giving
     effect to the amendments contained herein, each of the representations and
     warranties set forth in Sections 6.1 through 6.18, inclusive, of the Credit
     Agreement and acknowledges that such representations and warranties are and
     shall remain continuing representations and warranties during the entire
     life of the Credit Agreement.

5.   Except as specifically set forth above, this Second Amendment shall not be
     deemed to amend or alter in any respect the terms and conditions of the
     Credit Agreement, any of the Notes issued thereunder or any of the other
     Loan Documents, or to constitute a waiver by the Banks or Agent of any
     right or remedy under or a consent to any transaction not meeting the terms
     and conditions of the Credit Agreement, any of the Notes issued thereunder
     or any of the other Loan Documents.

6.   Unless otherwise defined to the contrary herein, all capitalized terms used
     in this Second Amendment shall have the meaning set forth in the Credit
     Agreement.

7.   This Second Amendment may be executed in counterpart in accordance with
     Section 13.10 of the Credit Agreement.

8.   This Second Amendment shall be construed in accordance with and governed by
     the laws of the State of Michigan.

                     [SIGNATURES FOLLOW ON SUCCEEDING PAGES]

                                       2

<PAGE>

     WITNESS the due execution hereof as of the day and year first above
written.

                                        COMERICA BANK,
                                        as Agent

                                        By: /s/ Harve C. Light
                                            ------------------------------------
                                            Harve C. Light
                                        Its: Vice President

                                                              SIGNATURE PAGE FOR
                                                            CAC SECOND AMENDMENT

<PAGE>

                                        CREDIT ACCEPTANCE CORPORATION

                                        By: /s/ Douglas W. Busk
                                            ------------------------------------
                                            Douglas W. Busk
                                        Its: Treasurer

                                                              SIGNATURE PAGE FOR
                                                            CAC SECOND AMENDMENT

<PAGE>

                                        BANKS:

                                        COMERICA BANK

                                        By: /s/ Harve C. Light
                                            ------------------------------------
                                            Harve C. Light
                                        Its: Vice President

                                                              SIGNATURE PAGE FOR
                                                            CAC SECOND AMENDMENT

<PAGE>

                                        BANK OF AMERICA, N.A.

                                        By: /s/ Daniel R. Petrik
                                            ------------------------------------
                                            Daniel R. Petrik
                                        Its: Senior Vice President

                                                              SIGNATURE PAGE FOR
                                                            CAC SECOND AMENDMENT

<PAGE>

                                        LASALLE BANK NATIONAL ASSOCIATION

                                        By: /s/ David H. Sherer
                                            ------------------------------------
                                            David H. Sherer
                                        Its: Senior Vice President

                                                              SIGNATURE PAGE FOR
                                                            CAC SECOND AMENDMENT

<PAGE>

                                        HARRIS N.A.

                                        By: /s/ Michael Cameli
                                            ------------------------------------
                                            Michael Cameli
                                        Its: Director

                                                              SIGNATURE PAGE FOR
                                                            CAC SECOND AMENDMENT

<PAGE>

                                        FIFTH THIRD BANK
                                        (EASTERN MICHIGAN)

                                        By: /s/ John Antonczak
                                            ------------------------------------
                                            John Antonczak
                                        Its: Vice President

                                                              SIGNATURE PAGE FOR
                                                            CAC SECOND AMENDMENT

<PAGE>

                                        NATIONAL CITY BANK OF THE MIDWEST,
                                        FORMERLY KNOWN AS NATIONAL CITY BANK OF
                                        MICHIGAN/ILLINOIS

                                        By: /s/ Michael Kell
                                            ------------------------------------
                                            Michael Kell
                                        Its: Vice President

                                                              SIGNATURE PAGE FOR
                                                            CAC SECOND AMENDMENT

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