Document:

<PAGE>
                                                             EXHIBIT 4(f)(39)

                                SECOND AMENDMENT
                                       TO
                      AMENDED AND RESTATED CREDIT AGREEMENT

     This SECOND AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT ("Second
Amendment") is made as of this 10th day of June, 2002 by and among Credit
Acceptance Corporation, a Michigan corporation ("Company"), the Permitted
Borrowers signatory hereto (each, a "Permitted Borrower" and collectively, the
"Permitted Borrowers"), Comerica Bank and the other banks signatory hereto
(individually, a "Bank" and collectively, the "Banks") and Comerica Bank, as
agent for the Banks (in such capacity, "Agent").

                                    RECITALS

     A.  Company, Permitted Borrowers, Agent and the Banks entered into that
certain Amended and Restated Credit Acceptance Corporation Credit Agreement
dated as of June 11, 2001 (as amended by First Amendment dated as of March 8,
2002, the "Credit Agreement") under which the Banks renewed and extended (or
committed to extend) credit to the Company and the Permitted Borrowers, as set
forth therein.

     B.  The Company and the Permitted Borrowers have 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, Permitted Borrowers, Agent and the Banks agree:

     1.   Section 1 of the Credit Agreement is hereby amended by amending and
          restating, or adding (as applicable), the following definitions:

          "CAC South Dakota" shall mean Credit Acceptance Corporation of South
          Dakota, Inc., a South Dakota corporation.

          "Domestic Subsidiary" shall mean those Subsidiaries of the Company
          incorporated under the laws of the United States of America, or any
          state thereof, other than the US LLC, so long as it is a Subsidiary of
          a Foreign Subsidiary. [CHANGES FROM EXISTING DEFINITION SHOWN IN
          ITALICS]

          "Funding Conditions" shall mean those conditions required to be
          satisfied prior to or concurrently with the funding of any Future
          Debt, as follows:

          (a)  Within a period of one hundred eighty (180) days prior to the
               date any such Debt is incurred, Company shall have provided to
               the Agent and the Banks a Consolidated plan and financial
               projections meeting the requirements therefor as set forth in
               Section 7.3(i) of this Agreement and demonstrating that the
               Company

<PAGE>
               would be in compliance with the financial covenants set forth in
               Sections 7.4 through 7.7 hereof and the Borrowing Base
               Limitation, if applicable, were such Debt outstanding during the
               applicable reporting periods;

          (b)  Both immediately before and immediately after such additional
               Debt is incurred, no Default or Event of Default (whether or not
               related to such additional Debt, and taking into account the
               incurring of such additional Debt) has occurred and is
               continuing;

          (c)  If such additional Debt shall be issued pursuant to loan
               documents containing covenants which are more restrictive than
               the covenants contained in this Agreement, Company shall, upon
               the written request of the Majority Banks, enter into amendments
               to this Agreement to extend the benefit of such covenants to the
               Banks;

          (d)  Concurrently with the incurring of such additional Debt, the
               proceeds of such Debt, net of third party expenses incurred by
               the Company in connection with the issuance of such Debt, shall
               be applied to reduce (i) the principal balance outstanding under
               other Future Debt then outstanding or (ii) 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), 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 Eurocurrency-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 Eurocurrency-based Advances of the Revolving
               Credit (subject to the right to reborrow, as aforesaid); and

          (e)  If such additional Debt is to be secured, the applicable Lien
               shall arise only pursuant to the Security Agreement and/or the
               other Collateral Documents and each of the holders of such Debt
               shall become a party to the Intercreditor Agreement and shall
               execute and deliver such additional or related Loan Documents as
               reasonably requested by the Agent.

          "Future Debt" shall mean Debt evidenced by Long Term Notes; provided
          that the aggregate principal amount of all such Debt outstanding at
          any time from and after the date hereof shall not exceed One Hundred
          Fifty Million Dollars ($150,000,000); and

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<PAGE>

          provided further that, at the time any such Debt is incurred, the
          Funding Conditions have been satisfied. For the purposes of this
          definition, "Long Term Notes" shall mean unsecured or secured
          non-revolving promissory notes to be issued by the Company, which Debt
          shall have a term extending at least beyond the Revolving Credit
          Maturity Date then in effect, have an amortization schedule not
          greater than level amortization to maturity (but with no principal
          payments required for a period of at least 12 months) and have no
          requirement for mandatory early repayment except (x) upon default, (y)
          following a change in control or (z) following the sale of any
          material portion of the assets of the Company or any of its
          Subsidiaries, to the extent of the proceeds of such sale.

          "Program Agreement" shall mean that certain Auto Finance Alliance
          Program Agreement between the Company and a certain finance company
          dated as of May 6, 2002, as previously approved by the requisite Banks
          (the "Existing Agreement"), and each other agreement providing for the
          transfer to Program Participants of eligible Installment Contracts
          satisfying the applicable credit guidelines in effect under such
          agreement, on substantially the terms of the Existing Agreement (as
          determined by the Agent, in its reasonable discretion), as such
          agreements may be amended (subject to the terms hereof) from time to
          time.

          "Program Contract(s)" shall mean eligible Installment Contracts
          satisfying basic credit guidelines applicable under a Program
          Agreement from time to time in effect generated by the Company's
          Dealers and transferred to the Company or a Subsidiary, for further
          transfer to a Program Participant.

          "Program Participant" shall mean that certain finance company which is
          a party to the Existing Finance Agreement (defined in the definition
          of "Program Agreement") and such other Persons which contract with the
          Company or a Subsidiary, from time to time, under a Program Agreement.

          "Program Transfer" shall mean the transfer by the Company or a
          Subsidiary to a Program Participant of a Program Contract.

          "Scottish Partnership" shall mean a partnership established by the
          Company under the law of Scotland pursuant to the UK Restructuring and
          which is a wholly-owned Subsidiary of the Company. [CHANGES FROM
          EXISTING DEFINITION SHOWN IN ITALICS]

          "Security Agreement" is defined in the definition of Collateral
          Documents.

          "Stapled Stock Restructuring" shall mean a series of transfers,
          mergers, amalgamations and similar transactions involving ownership
          interests (but not involving any transfers of Advances to Dealers,
          Installment Contracts or other financial assets, or similar
          transactions) among the Company and its Subsidiaries, including
          without limitation the formation of a new wholly-owned Subsidiary
          under the laws of the Turks & Caicos Islands ("T&C Subsidiary"), which
          will be "stapled" to the Company's existing Domestic Subsidiary, CAC
          South Dakota (such that the shares of each stapled Subsidiary cannot
          be transferred without the other), the formation of a limited
          liability company as a

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<PAGE>
          Subsidiary of the T&C Subsidiary or CAC South Dakota and the transfer
          by the Company to CAC Scotland (or its Subsidiaries) of all of the
          share capital of CAC Ireland and CAC Canada, such transactions
          resulting in the restructuring of the ownership of the Company's
          Foreign Subsidiaries as shown on Exhibit R to the Credit Agreement.

          "T&C Subsidiary" is defined in the definition of Stapled Stock
          Restructuring.

          "UK Restructuring" shall mean (i) the creation by the Company of the
          Scottish Partnership, the Luxembourg Subsidiary and the English
          Special Purpose Subsidiary, (ii) the Company's capitalization of the
          Scottish Partnership with CAC UK stock, (iii) Intercompany Loans from
          time to time from the Company to the Scottish Partnership, directly,
          or indirectly through one or more holding companies, in an amount
          substantially equivalent to the fair market value of assets being
          transferred to the English Special Purpose Subsidiary at such time by
          CAC UK, provided that such Intercompany Loans are substantially
          contemporaneously repaid pursuant to clauses (ix) and (x) of this
          definition, (iv) the contribution of a nominal amount of capital to
          the Luxembourg Subsidiary, (v) the contributions to capital by the
          Scottish Partnership to the English Special Purpose Subsidiary out of
          the proceeds of the Company's contemporaneous loan to the Scottish
          Partnership under clause (iii) of this definition, (vi) Intercompany
          Loans from time to time by the Scottish Partnership to the Luxembourg
          Subsidiary out of the proceeds of the Company's contemporaneous loan
          to the Scottish Partnership under clause (iii) of this definition,
          (vii) Intercompany Loans from time to time by the Luxembourg
          Subsidiary to the English Special Purpose Subsidiary substantially
          equal to the contemporaneous loans made to the Luxembourg Subsidiary
          by the Scottish Partnership, (viii) transfers from time to time of
          Advances to Dealers (and its rights in the related Installment
          Contracts or Leases) by CAC UK to the English Special Purpose
          Subsidiary for cash consideration in an amount substantially
          equivalent to the fair market value of the assets being transferred to
          the English Special Purpose Subsidiary at such time by CAC UK, (ix)
          dividends from CAC UK to Scottish partnership in an amount
          substantially equal to the cash received by CAC UK in exchange for the
          assets transferred at such time to the English Special Purpose
          Subsidiary, and (x) repayments from time to time of the Intercompany
          Loans (referred to in clause (iii) of this definition) by the Scottish
          Partnership to the Company, directly, or indirectly through one or
          more holding companies. [CHANGES FROM EXISTING DEFINITION ARE SHOWN IN
          ITALICS]

          "US LLC" shall mean that certain limited liability company chartered
          in the United States and established as part of the Stapled Stock
          Restructuring.

     2.   Section 1 of the Credit Agreement is further amended by amending the
          following definitions in the manner set forth below:

          "Advances to Dealers" is amended by adding, to the end of clause (a)
          (after the word "discharged", but before the word "or") the words "any
          such advances (and the related Installment Contracts, if any) made to
          a Dealer in connection with a Program Contract".

          Clause (a) of the definition of "Collateral" is amended to add in the
          eighth line thereof (following the words "of Dealers under Dealer
          Agreement", after the parenthetical but

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<PAGE>
          before the comma) the words "and all Program Agreements (but excluding
          any Program Contracts, it being understood that the security interest
          in Program Agreements shall be subject to the rights of the Program
          Participants under the Program Agreements)".

          Clause (e) of the definition of "Collateral" is amended and restated
          in its entirety, as follows:

               "(e) subject to Section 7.23 hereof, one hundred percent (100%)
               of the share capital of T&C Subsidiary and of CAC South Dakota
               (whether or not constituting a Significant Domestic Subsidiary)
               and, until released pursuant to Section 7.23 hereof or otherwise,
               not less than sixty-five percent (65%) of the share capital of
               CAC Canada, CAC Ireland and each other Foreign Subsidiary which
               is owned directly by the Company or a Domestic Subsidiary and
               which is a Significant Subsidiary,"

          Existing clause (v) of the definition of "Collateral Documents" is
          redesignated as clause (vi) and new clause (v) is added to the
          definition of Collateral Documents, as follows:

               "(v) those certain lien, charge or other security documents
               executed and delivered, or to be executed and delivered hereunder
               in order to encumber 65% of the outstanding share capital of CAC
               Canada and CAC Ireland (to be released in accordance with Section
               7.23 hereof) and, concurrently with the consummation of the
               Stapled Stock Restructuring, 100% of the share capital of the T&C
               Subsidiary, executed and delivered (or to be executed and
               delivered) by the Company or any of its subsidiaries and
               delivered to the Agent, as Collateral Agent (as aforesaid) and".

          "Consolidated Net Income" is amended to add, at the end of clause (d)
          thereof (immediately preceding the semicolon) the words "and the
          non-cash effect of stock option expense (whether constituting a gain
          or a loss).

          "Permitted Guaranties" is amended to add, at the end of such
          definition (immediately preceding the period) the words "and (v)
          Guarantee Obligations arising out of terms of any Program Agreement
          requiring the repurchase of a Program Contract with respect to which
          there has been a breach of covenant or representation under the
          Program Agreement".

          "Permitted Transfer(s)" is amended to add, at the end of such
          definition (immediately preceding the period) the words "and (v) any
          transfer of funds or other property paid as a dividend by a Subsidiary
          to the Company or any other Subsidiary to the extent permitted by
          clause (i) of Section 8.15 hereof".

          The reference in "Revolving Credit Maturity Date" to June 10, 2002, is
          changed to June 9, 2003.

                                       5
<PAGE>

          The proviso to the definition of "Significant Subsidiary(ies)" is
          amended to add, after the words "Scottish Partnership", the words ",
          the US LLC (so long as it is considered a Foreign Subsidiary
          hereunder)".

     3.   Section 2.13(b) of the Credit Agreement is amended to add, in the
          first line thereof (after the word "day") the words ", through but not
          after June 10, 2002," and to amend and restate, in its entirety, the
          third sentence of said Section, as follows:

          "The Utilization Fee shall be computed on the basis of a year of three
          hundred sixty (360) days and assessed for the actual number of days
          elapsed through (but not after) June 10, 2002, and shall be payable in
          arrears commencing July 1, 2001 (in respect of the prior fiscal
          quarter or portion thereof) and on the first day of each fiscal
          quarter thereafter and on June 10, 2002, but not thereafter."

     4.   Section 7 of the Credit Agreement is amended as follows:

          (a)  The preamble to Section 7 is amended to change the reference to
               Section 7.22 (in the third line thereof) to Section 7.23.

          (b)  Section 7.1(iii) is amended and restated in its entirety as
               follows:

               "(iii) continue to engage only in the businesses as substantially
               now conducted by the Company and its Subsidiaries and businesses
               reasonably related thereto;".

          (c)  New Section 7.23 (Stapled Stock Restructuring) is added, as
               follows:

               "7.23 Stapled Stock Restructuring.  Concurrently with the
               consummation of the Stapled Stock Restructuring, the Company
               shall:

               (a)  transfer its existing sixty-five percent (65%) in aggregate
                    partnership interests of the Scottish Partnership presently
                    encumbered for the benefit of the Lenders under that certain
                    Assignation in Security dated September 10, 2001 subject to
                    such Assignation, and/or cause the T&C Subsidiary to execute
                    and deliver to the Collateral Agent, for the benefit of the
                    Lenders, a new Assignation encumbering such 65% in aggregate
                    partnership interests, on substantially the terms of the
                    existing Assignation, and execute (or re-execute) or cause
                    to be executed (or re-executed) any related documentation
                    required under local law;

               (b)  Execute and deliver, in favor of the Collateral Agent, for
                    the benefit of the Lenders, a security interest and pledge
                    encumbering 100% of the outstanding share capital of the

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<PAGE>

                    T&C Subsidiary and cause the T&C Subsidiary to become
                    partners (by joinder) to the Domestic Guaranty; and

               (c)  Execute and deliver, in favor of the Collateral Agent, for
                    the benefit of the Lenders, a security interest and pledge
                    encumbering 100% of the issued and outstanding share capital
                    of CAC South Dakota and cause CAC South Dakota to become a
                    party (by joinder) to the Domestic Guaranty,

               in each case whether or not the T&C Subsidiary or CAC South
               Dakota shall then constitute Significant Subsidiaries hereunder;
               provided, however, that contemporaneously with satisfaction of
               the requirements set forth in clauses (a) through (c) of this
               Section 7.23, the Collateral Agent shall have released and
               discharged (or caused to be released and discharged) the lien and
               charge, existing as of the Second Amendment Effective Date, on
               the Company's entire interest in the share capital of CAC Canada
               and CAC Ireland.

     5.   Section 8 of the Credit Agreement is amended as follows:

          (a)  The preamble to Section 8 is amended to add, after the reference
               to Section 8.14 (in the fourth line thereof) the words "and
               8.15".

          (b)  Section 8.3 (Mergers or Dispositions) is amended to add, (i)
               after the word "thereof" (in the second line thereof), the words
               "or a merger pursuant to the Stapled Stock Restructuring, (ii)
               after the words "UK Restructuring (in the fourth and fifth lines
               thereof), the words "or the Stapled Stock Restructuring and
               except for Program Transfers" and (iii) in the fifth line thereof
               (after the word "thereto") the parenthetical phrase "(except in
               the case of Program Transfers)".

          (c)  Clause (g)(v) of Section 8.5 is amended to add, after the word
               "Company", the words ", another Foreign Subsidiary".

          (d)  Section 8.7 is amended to add, in clause (iii) thereof (after the
               words "UK Restructuring"), the words "or the Stapled Stock
               Restructuring".

          (e)  Clause (d)(i) of Section 8.8 is amended to add at the end of such
               clause, after the words "UK Restructuring" (preceding the comma),
               the words "or the restructuring of the ownership of the Company's
               Subsidiaries (but without the transfer of any cash or other
               property other than to the extent necessary, upon formation, to
               meet minimum capitalization requirements, if any, under
               applicable law) pursuant to the Stapled Stock Restructuring, as
               shown on Exhibit R hereto, and Intercompany Loans, Advances and
               Investments made to the Company or another Subsidiary by a
               Foreign Subsidiary pursuant to the Stapled Stock Restructuring",
               and clause (d)(ii) of Section 8.8 is amended to add, after the
               words "to or in" (in the first line of such clause), the words
               "the Company or" and

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<PAGE>

               clause (d)(iii) of Section 8.8 is amended to add after the words
               "UK Restructuring", the words "or the Stapled Stock
               Restructuring".

          (f)  Clause (g) of Section 8.8 is amended to add, at the end of said
               Section (following the word "Investment"), the words "or any
               Investment in Program Contracts which is not prohibited by
               Section 8.18 hereof or in Installment Contracts required to be
               repurchased by the Company or a Subsidiary under a Program
               Agreement.

          (g)  Section 8.9 is amended to add, after the words "Permitted
               Securitization" (in clause (iii) thereof) the words "or a Program
               Transfer".

          (h)  Section 8.11 is amended to add, after the words "purchase money
               Debt" (in the seventh line thereof), the words "and other than
               pursuant to any Program Agreement, but only to the extent of the
               Program Contacts to be transferred to the Program Participant
               thereunder."

          (i)  New Section 8.18 ("Program Agreements") is added, as follows:

               "Program Agreements.  (a) Amend, modify or otherwise alter (or
               suffer to be amended, modified or altered), any Program Agreement
               or any other document or instrument relating thereto unless (i)
               not less than three (3) Business Days prior to the Effective Date
               of any such amendment or modification, Company has provided
               written notice to Agent (accompanied by a copy of any such
               proposed amendment or modification and reasonable supporting
               information) and (ii) any such amendment, modification or
               alteration could not reasonably be expected to have a Material
               Adverse Effect (as reasonably determined by the Agent) or is
               approved by the Majority Banks; and

               (b) make an Investment or otherwise provide funds, directly or
               indirectly, in an aggregate amount at any time outstanding in
               excess of $2,000,000 to Company's Dealers in connection with the
               origination of Program Contracts or Program Transfers, except to
               the extent such funds are obtained, in cash, from the applicable
               Program Participant prior to any such Investment or other
               provision of funds, or make any commitment to a Program
               Participant to do so."

     6.   Section 9.1(i) of the Credit Agreement is amended and restated in its
          entirety, as follows:

          (i)  (a) Any Person or group of Persons (within the meaning of Section
               13(d) of the Securities Exchange Act of 1934, as amended), other
               than Donald Foss, his wife and children or trust(s) established
               for his or their benefit, shall acquire beneficial ownership
               (within the meaning of Rule 13d-3 promulgated under such Act) of
               more than 50% of the outstanding securities (on a fully diluted
               basis and taking into account any securities or contract rights
               exercisable, exchangeable or convertible into equity securities)
               of the Company having voting rights in the election of directors
               under normal circumstances; or (b) a majority of the members of
               the Board of Directors of the Company shall cease to be
               Continuing Members. For purposes of the foregoing; "Continuing
               Member" means a member of the Board of Directors of the Company
               who either (i) was a member of the

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<PAGE>
               Company's Board of Directors on the day before the Second
               Amendment Effective Date (as defined in the Second Amendment) and
               has been such continuously thereafter or (ii) became a member of
               such Board of Directors after the day before the Second Amended
               Effective Date and whose election or nomination for election was
               approved by a vote of the majority of the Continuing Members who
               are then members of the Company's Board of Directors; or (c)
               there shall occur a "Change in Control" (or equivalent event
               thereunder) under the documents relating to the Senior Debt (if
               then outstanding) or any Future Debt then outstanding; or".

     7.   Replacement Exhibit D, setting forth the Percentages (in the form of
          Attachment 1 to this Second Amendment), shall replace existing Exhibit
          D. New Exhibit R (in the form of Attachment 2 to this Second
          Amendment) is added to the Credit Agreement.

     8.   This Second Amendment shall become effective, according to the terms
          and as of the date hereof ("Second Amendment Effective Date"), upon
          satisfaction by the Company and the Permitted Borrowers of the
          following conditions:

          (a)  Agent shall have received counterpart originals of this Second
               Amendment, together with counterpart originals of amendments to
               the Security Agreement and the Intercreditor Agreement
               (collectively, the "Loan Document Amendments") in each case duly
               executed and delivered by Company, the Permitted Borrowers and
               the requisite Banks, as applicable, in each case in form
               satisfactory to Agent, the Collateral Agent and the Banks;

          (b)  Agent shall have received from the Company and each of the
               Permitted Borrowers a certification (i) that all necessary
               actions have been taken by such parties to authorize execution
               and delivery of this Second Amendment and the Loan Document
               Amendments, 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; and

          (c)  Company shall have paid (i) to the Banks (or to the Agent for
               prompt distribution to the Banks) an amendment and extension fee
               in the amounts shown on the attached pricing schedule (see
               Attachment 3), (ii) to the Lead Arranger (for its sole account),
               any arranger's fee due under any fee letter in effect on the date
               hereof, and (iii) to the Agent (for its sole account), any agency
               fee due under any fee letter in effect on the date hereof.

          If the foregoing conditions have not been satisfied or waived on or
          before June 10, 2002, this Second Amendment shall lapse and be of no
          further force and effect.

     9.   Each of the Company and the Permitted Borrowers 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 6.21, inclusive, of the

                                       9
<PAGE>

          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.

     10.  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.

     11.  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.

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

     13.  Comerica Bank - Canada having been designated by Comerica Bank, in its
          capacity as Swing Line Bank (and as a Bank) under the Credit Agreement
          to fund Comerica Bank's advances in C$ pursuant to Section 11.12 of
          the Credit Agreement, has executed this Second Amendment to evidence
          its approval of the terms and conditions thereof.

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

                     [SIGNATURES FOLLOW ON SUCCEEDING PAGES]

                                       10
<PAGE>
                                                                EXHIBIT 4(f)(39)

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

COMERICA BANK,                           CREDIT ACCEPTANCE
 as Agent                                CORPORATION

By: /s/ Caryn Dorfman                    By: /s/ Douglas W. Busk
   --------------------------------         ------------------------------------

Its: Assistant Vice President            Its: Chief Financial Officer
    -------------------------------          -----------------------------------
One Detroit Center
500 Woodward Avenue
Detroit, Michigan 48226
Attention: Caryn Dorfman

COMERICA BANK - CANADA                   CREDIT ACCEPTANCE
                                         CORPORATION UK LIMITED

By: /s/ Robert Rosen                     By: /s/ Douglas W. Busk
   --------------------------------         ------------------------------------

Its: Vice President                      Its: Chief Financial Officer
    -------------------------------          -----------------------------------

                                         CAC OF CANADA LIMITED

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

                                         Its: Chief Financial Officer
                                             -----------------------------------

                                         CREDIT ACCEPTANCE
                                         CORPORATION IRELAND LIMITED

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

                                         Its: Chief Financial Officer
                                             -----------------------------------
<PAGE>
BANKS:

COMERICA BANK                            BANK OF AMERICA, N.A.

By: /s/ Caryn Dorfman                    By: /s/ Shelly K. Harper
   --------------------------------         ------------------------------------

Its: Assistant Vice President            Its: Principal
    -------------------------------          -----------------------------------

LASALLE BANK NATIONAL                    NATIONAL CITY BANK OF
ASSOCIATION                              MICHIGAN/ILLINOIS

By: /s/ Daniel Garces                    By: /s/ Harve C. Light
   --------------------------------         ------------------------------------

Its: Assistant Vice President            Its: Vice President
    -------------------------------          -----------------------------------

HARRIS TRUST AND SAVINGS BANK

By: /s/ Michael Cameli
   --------------------------------

Its: Vice President
    -------------------------------

FIFTH THIRD BANK (EASTERN MICHIGAN)

By: /s/ Michael Dolson
   --------------------------------

Its: Vice President
    -------------------------------

<PAGE>

                                 ATTACHMENT 1 TO
                      SECOND AMENDMENT TO CREDIT AGREEMENT

                                REVISED EXHIBIT D

                                   PERCENTAGES

<TABLE>
<CAPTION>
================================================================================
                    BANKS                     COMMITMENT         PERCENTAGES
================================================================================
<S>                                          <C>                 <C>
Comerica Bank                                 $30,000,000        22.22222222%
================================================================================

Bank of America, N.A.                         $30,000,000        22.22222222%
================================================================================

LaSalle National Bank                         $20,000,000        14.81481481%
================================================================================

Harris Trust and Savings Bank                 $20,000,000        14.81481481%
================================================================================

National City Bank of Michigan/Illinois       $20,000,000        14.81481481%
================================================================================

Fifth Third Bank                              $15,000,000         11.1111111%
================================================================================

TOTAL                                        $135,000,000             100.00%
================================================================================
</TABLE>
<PAGE>
                                 ATTACHMENT 3 TO
                      SECOND AMENDMENT TO CREDIT AGREEMENT

                                PRICING SCHEDULE
                          (AMENDMENT AND EXTENSION FEE)

<TABLE>
<CAPTION>

         COMMITMENT AMOUNT                           FEE AMOUNT (BASIS POINTS)
         -----------------                           -------------------------
<S>                                                  <C>
<$15.0 million                                                30 bps.
Equal to $15.0 million, but < $20.0 million                   40 bps.
Equal to $20.0 million, but < $30.0 million                   47.5 bps.
Equal to $30.0 million                                        60.0 bps.
</TABLE><PAGE>
                                                                EXHIBIT 4(f)(40)

                   SECOND AMENDMENT TO INTERCREDITOR AGREEMENT

     This SECOND AMENDMENT TO INTERCREDITOR AGREEMENT dated as of June 10, 2002
("Second Amendment") is entered into by and among (a) Comerica Bank
("Comerica"), acting in its capacity as agent (in such capacity, the "Agent")
for and on behalf of the various financial institutions which are, or may from
time to time hereafter become, parties to the Credit Agreement, (b) the
undersigned Lenders (including Comerica in its individual capacity), and (c)
Comerica, in its capacity as collateral agent hereunder (together with its
successors and assigns, the "Collateral Agent"), and is acknowledged by Credit
Acceptance Corporation, a Michigan corporation ("Company") as issuer of the
Benefited Obligations.

                                    RECITALS

     A. Agent, Collateral Agent, each of the undersigned Lenders (or their
predecessors), and certain Noteholders entered into that certain Intercreditor
Agreement dated as of December 15, 1998 which was acknowledged by the Company as
of such date and which was amended by the parties by First Amendment ("First
Amendment") dated as of March 30, 2001 (as so amended, the "Intercreditor
Agreement").

     B. Subsequent to the First Amendment, the Senior Debt (as defined in the
Intercreditor Agreement) was paid and discharged in full by the Company.

     C. At the request of the Company, and in connection with certain amendments
to be made to the Credit Agreement concurrently with this Second Amendment, the
undersigned parties have agreed to amend the terms and conditions of the
Intercreditor Agreement, but only as set forth herein.

     NOW, THEREFORE, the parties have entered into this Second Amendment to
make further amendments to the Intercreditor Agreement, as follows:

     1. The following definitions contained in Section 1 of the Intercreditor
Agreement are amended and restated in their entirety, as follows [CHANGES SHOWN
IN BOLD ITALICS]:

        "Future Debt" means Debt, if any, incurred by the Company as "Future
        Debt" pursuant to the requirements and limitations applicable thereto
        under the Credit Agreement (without giving effect to any amendments to
        such requirements and limitations after the incurrence of any Future
        Debt, except to the extent approved by the Required Future Debt
        Holders) which is secured or to be secured by a Lien on the
        Collateral, as so designated by the Company in a writing delivered to
        and acknowledged by the Collateral Agent pursuant to Section 7(a)
        hereof, but shall not include any other Debt.

        "Future Debt Documents" means the promissory note(s), agreement(s) and
        other documents, instruments and certificates, if any, executed and
        delivered, subject to the terms of this Agreement, to evidence or
        secure or otherwise relating to Future Debt, as amended, restated or
        otherwise modified from time to time, and any
<PAGE>
        replacement, refinancing or restructuring of any such promissory note,
        agreement or other document, instrument or certificate, provided that
        any successor Future Debt Holder, or any agent acting on behalf of all
        such successor Future Debt Holders, has executed an acknowledgement to
        this Agreement substantially in the form of Exhibit B-1.

        "Future Debt Holders" means each Person, if any, which is, at the date
        of determination, the holder of Future Debt.

        "Permitted Securitization" means any "Permitted Securitization" under
        the Credit Agreement and the Future Debt Documents.

        "Security Agreement" means that certain Second Amended and Restated
        Security Agreement executed and delivered by the Company and certain
        of its Subsidiaries, as debtors and Grantors, in favor of the
        Collateral Agent, for and, on behalf of the holders of the Benefited
        Obligations, as such agreement may be amended, restated or otherwise
        modified from time to time.

        "Security Documents" means this Agreement, the Security Agreement, and
        the Share Charge, and shall include any other agreements or
        instruments which provide security with respect to any Benefited
        Obligation which are executed and delivered after the date hereof.

        "Share Charge" means each share charge, pledge, assignation or other
        document or instrument encumbering, for the benefit of the holders of
        the Benefited Obligations, the share capital, partnership interests or
        other equity or ownership interests of the Company or its Subsidiaries
        in a Subsidiary established under the laws of a jurisdiction other
        than the United States of America, or any state, territory or district
        thereof, whether such document or instrument is presently in effect or
        is executed and delivered after the date hereof, as each such document
        or instrument may be amended, restated or otherwise modified from time
        to time, and all such documents and instruments collectively.

        "Significant Domestic Subsidiary" means any "Significant Domestic
        Subsidiary" under the Credit Agreement or the Future Debt Documents.

     2. Section 7(b) of the Intercreditor Agreement is amended and restated, in
its entirety, as follows [CHANGES SHOWN IN BOLD ITALICS]:

        "(b) Upon the acquisition or creation of any Subsidiary that
        constitutes a Significant Domestic Subsidiary or otherwise when
        required under the applicable terms of any Financing Agreement, (i)
        the Company shall execute, and cause such Subsidiary to execute, and
        deliver to the Collateral Agent and each Benefited Party the Security
        Documents to the extent required by the Credit Agreement and/or the
        applicable provisions of the Note Agreements or any Future Debt
        Documents and (ii) the Company shall cause such newly acquired or
        created Subsidiary (and any other Subsidiary required to deliver a
        stock pledge under the applicable terms of the Security Agreement, any
        Share Charge or any other
<PAGE>
        Security Agreement or Financing Agreement) to execute and deliver to
        the Collateral Agent an acknowledgment substantially in the form of
        Exhibit B-2 attached to this Agreement, by which such Subsidiary
        agrees to be bound by the terms of this Agreement. Each such
        acknowledgment shall also be signed by the Company and the Collateral
        Agent."

     3. Sections 11(o) and 11(p) of the Intercreditor Agreement are hereby
deleted in their entirety.

     4. Except to the extent otherwise defined herein, all capitalized terms
used in this Amendment shall have their respective meanings as set forth in the
Intercreditor Agreement.

     5. Agent, Collateral Agent, the Lenders, and Company hereby acknowledge
that, subject to the terms hereof, the Intercreditor Agreement is and shall
remain in full force and effect according to its terms.

     6. This Amendment may be executed in any number of counterparts and by the
parties hereto in separate counterparts, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute one
and the same agreement.

                                      * * *

                     [SIGNATURES FOLLOW ON SUCCEEDING PAGES]

<PAGE>

     IN WITNESS WHEREOF, the undersigned parties have caused this Amendment to
be duly executed and delivered as of the date first above written.

                                         COMERICA BANK,
                                         as Agent and as Collateral Agent

                                         By: /s/ Caryn Dorfman
                                            ------------------------------------

                                         Its: Assistant Vice President
                                             -----------------------------------
<PAGE>

         [SIGNATURE PAGE TO SECOND AMENDMENT TO INTERCREDITOR AGREEMENT]

                                        ACKNOWLEDGED BY:

                                        CREDIT ACCEPTANCE CORPORATION

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

                                        Its: Chief Financial Officer
                                            ------------------------------------

                                        Date: June 10, 2002

                                        AUTO FUNDING AMERICA OF NEVADA INC.
                                        CREDIT ACCEPTANCE CORPORATION
                                        LIFE INSURANCE COMPANY
                                        BUYERS VEHICLE PROTECTION PLAN, INC.
                                        CAC LEASING, INC.
                                        VEHICLE REMARKETING SERVICES, INC.
                                        CREDIT ACCEPTANCE CORPORATION OF
                                        NEVADA, INC.

                                        By: /s/ Douglas W. Busk
                                           -------------------------------------
                                        Name: Douglas W. Busk
                                             -----------------------------------
                                        Title: Chief Financial Officer
                                              ----------------------------------
                                        Address for Notices:
                                        c/o Credit Acceptance Corporation
                                        25505 W. 12 Mile Road, Suite 3000
                                        Southfield, Michigan 48034
                                        Fax No.: 248-827-8542
                                        Telephone No.: 248-353-2700
                                        Attention: Jim Murray

        [SIGNATURE PAGE TO SECOND AMENDMENT TO INTERCREDITOR AGREEMENT]
<PAGE>

BANKS:

COMERICA BANK                            BANK OF AMERICA, N.A.

By: /s/ Caryn Dorfman
   --------------------------------
                                         By: /s/ Shelly K. Harper
Its: Assistant Vice President               ------------------------------------
    -------------------------------
                                         Its: Principal
                                             -----------------------------------

LASALLE BANK NATIONAL
ASSOCIATION
                                         NATIONAL CITY BANK OF
                                         MICHIGAN/ILLINOIS
By: /s/ Daniel Garces
    -------------------------------

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

                                         Its: Vice President
                                             -----------------------------------

HARRIS TRUST AND SAVINGS BANK

By: /s/ Michael Cameli
   --------------------------------

Its: Vice President
    -------------------------------

FIFTH THIRD BANK (EASTERN MICHIGAN)

By: /s/ Michael Dolson
   --------------------------------

Its: Vice President
    -------------------------------

         [SIGNATURE PAGE TO SECOND AMENDMENT TO INTERCREDITOR AGREEMENT]

<PAGE>
                                                                EXHIBIT 4(f)(41)

                               SECOND AMENDMENT TO
                 SECOND AMENDED AND RESTATED SECURITY AGREEMENT

     This Second Amendment dated as of June 10, 2002, by and between Credit
Acceptance Corporation, a Michigan corporation (the "Company"), the Subsidiaries
of the Company from time to time parties hereto (collectively, with the Company,
and either or any of them, the "Debtors" and individually, each a "Debtor") and
Comerica Bank, a Michigan banking corporation ("Comerica"), as agent (in such
capacity, the "Collateral Agent") for the benefit of the "Lenders", the
"Noteholders" and the "Future Debt Holders" (each as referred to in the Security
Agreement, defined below).

                                    RECITALS:

     A. Pursuant to the Credit Agreement, the Senior Debt Documents and the
Intercreditor Agreement (each as defined in the Security Agreement), Debtors
executed and delivered to the Collateral Agent that certain Second Amended and
Restated Security Agreement dated as of June 11, 2001.

     B. Debtors and the Collateral Agent entered into that certain First
Amendment to Second Amended and Restated Security Agreement ("First Amendment")
dated as of September 7, 2001, amending the Security Agreement referred to in
Recital A on the terms set forth therein (such Security Agreement, as amended by
the First Amendment, the "Security Agreement").

     C. Subsequent to the First Amendment, the Senior Debt (as defined in the
Intercreditor Agreement) was paid and discharged in full by the Company.

     D. Debtors and the Collateral Agent, with the concurrence of the Banks (as
defined in the Intercreditor Agreement), desire to amend the Security Agreement
as set forth below.

     NOW THEREFORE, the parties agree as follows:

     1. Section 1.1 of the Security Agreement is amended, as follows:

     (a) The following new definitions are added to Section 1.1, and inserted in
appropriate alphabetical order:

     "CAC South Dakota" means Credit Acceptance Corporation of South Dakota,
Inc.

     "CAC Reinsurance" means CAC Reinsurance Limited.

     "Program Agreements" shall mean the "Program Agreements" under each of the
Credit Agreement and the applicable Future Debt Documents.

     "Program Contracts" shall mean the "Program Contracts" under each of the
Credit Agreement and the applicable Future Debt Documents.

<PAGE>

     "Program Participants" shall mean the "Program Participants" under each of
the Credit Agreement and the applicable Future Debt Documents.

     "Program Transfers" shall mean the "Program Transfers" under each of the
Credit Agreement and the applicable Future Debt Documents.

     "Stapled Stock Restructuring" shall mean the "Stapled Stock Restructuring"
under each of the Credit Agreement and the applicable Future Debt Documents.

     "T & C Subsidiary" shall mean the "T & C Subsidiary" under each of the
Credit Agreement and the applicable Future Debt Documents.

     (b) The following definitions are amended and restated in their entirety,
as follows:

     "Significant Domestic Subsidiary" has the meaning specified in the
Intercreditor Agreement.

     2. Section 2.1 of the Security Agreement is hereby amended, as follows
[CHANGES ARE SHOWN IN ITALICS]:

     (a) Section 2.1(d) is amended and restated in its entirety as follows:

     "(d) All General Intangibles, including without limitation all Program
     Agreements (but excluding any Program Contracts), it being understood that
     the security interest in Program Agreements granted hereby shall be subject
     to the rights of Program Participants under the Program Agreements;"

     (b) The second proviso at the end of Section 2.1 (establishing certain
exclusions from "Collateral") is amended to add a new clause (iii) (following
the words "as the case may be", but preceding the period), as follows:

     "or (iii) Program Contracts and any investments, advances or similar rights
     relating to funds provided by a Debtor, directly or indirectly, to Dealers
     in connection with the origination of Program Contracts or Program
     Transfers, to the extent not prohibited under the Financing Agreements."

     3. Upon the consummation of the Stapled Stock Restructuring in accordance
with the applicable Financing Agreements, the First Amendment and each of the
changes contained therein shall be rescinded and set aside so that such
amendments shall have no further force and effect, provided, however, that the
Security Agreement, as amended by this Second Amendment, shall otherwise remain
in full force and effect according to its terms. The Collateral Agent agrees,
promptly following consummation of the Stapled Stock Restructuring in accordance
with the applicable Financing Agreements, to provide written confirmation
thereof to Debtors, accompanied by such releases, discharges, termination
statements (and, if applicable, the return of any share certificates and stock
powers) and other documents or instruments as reasonably required to release any
Collateral added to the Security Agreement by the First Amendment.

                                       2
<PAGE>

     4. Upon Collateral Agent's delivery of the confirmation and other materials
referred to in paragraph 3 of this Second Amendment:

     (a) Schedule A to the Security Agreement shall be amended to add CAC South
Dakota and the information pertaining thereto, as shown on Attachment 1 hereto,
and Schedule B to the Security Agreement shall be amended to add a reference to
CAC South Dakota and the information pertaining thereto, as shown on Attachment
1 hereto;

     (b) the replacement Schedule D (Pledged Shares) to the Security Agreement
set forth on Attachment 2 hereto, adding CAC South Dakota and the T&C Subsidiary
and deleting CAC Canada, shall replace in its entirety the existing Schedule D
(Pledged Shares) to the Security Agreement, and Schedule E to the Security
Agreement shall be amended to add a reference to CAC South Dakota and under such
reference, the word "none";

     (c) CAC South Dakota shall be considered, and deemed to be, for all
purposes of the Security Agreement, a Debtor under the Security Agreement as
fully as though CAC South Dakota had executed and delivered the Security
Agreement at the time originally executed and delivered by the existing Debtors,
and hereby ratifies and confirms (as of date of the delivery by Collateral Agent
of the confirmation referred to above) its obligations under the Security
Agreement, all in accordance with the terms hereof; and

     (d) CAC Reinsurance shall be considered, and deemed to be, solely for
purposes of the stock pledge over all of its shares of stock in the T&C
Subsidiary and CAC South Dakota, granted under Section 2.1(i) and (l) of the
Security Agreement a Debtor under the Security Agreement as fully as though CAC
Reinsurance had executed and delivered the Security Agreement at the time
originally executed and delivered by the existing Debtors, and hereby ratifies
and confirms (as of the date of delivery by the Collateral Agent of the
confirmation referred to above), its obligations under the Security Agreement
(to the extent relating thereto), all in accordance with the terms hereof.

Notwithstanding the foregoing, (x) unless and until the Collateral Agent
delivers the confirmation and other materials referred to in paragraph 3 of this
Second Amendment, CAC South Dakota and CAC Reinsurance shall have no obligations
under the Security Agreement; and (y) the stock pledges over the shares of stock
of the T&C Subsidiary shall be subject to any pledge under local law executed
and delivered by CAC Reinsurance and the Company, if so executed and delivered.

     5. Except as expressly modified hereby, all the terms and conditions of the
Security Agreement shall remain in full force and effect. Except as expressly
set forth herein, nothing in this Amendment shall constitute a waiver of any
term or condition of the Security Agreement or any of the rights and remedies
provided to the Secured Party thereunder or as otherwise provided by law.

                                       3
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as
of the day and year first written above.

                                    DEBTORS:

                                    CREDIT ACCEPTANCE CORPORATION

                                    By: /s/ Douglas W. Busk
                                        ----------------------------------------
                                    Name: Douglas W. Busk
                                          --------------------------------------
                                    Title: Chief Financial Officer
                                           -------------------------------------
                                    Address for Notices:
                                    Credit Acceptance Corporation
                                    25505 W. 12 Mile Road, Suite 3000
                                    Southfield, Michigan 48034
                                    Fax No.: 248-827-8542
                                    Telephone No.: 248-353-2700
                                    Attention: Jim Murray

                                    AUTO FUNDING AMERICA OF NEVADA INC.
                                    CREDIT ACCEPTANCE CORPORATION LIFE INSURANCE
                                    COMPANY
                                    BUYERS VEHICLE PROTECTION PLAN, INC. CAC
                                    LEASING, INC.
                                    VEHICLE REMARKETING SERVICES, INC.
                                    CREDIT ACCEPTANCE CORPORATION OF NEVADA,
                                    INC.
                                    CREDIT ACCEPTANCE CORPORATION OF SOUTH
                                    DAKOTA CAC REINSURANCE LIMITED

                                    By: /s/ Douglas W. Busk
                                        ----------------------------------------
                                    Name: Douglas W. Busk
                                          --------------------------------------
                                    Title: Chief Financial Officer
                                           -------------------------------------
                                    Address for Notices:
                                    c/o Credit Acceptance Corporation
                                    25505 W. 12 Mile Road, Suite 3000
                                    Southfield, Michigan 48034
                                    Fax No.: 248-827-8542
                                    Telephone No.: 248-353-2700
                                    Attention: Jim Murray

                                       4
<PAGE>

                                    COLLATERAL AGENT:

                                    COMERICA BANK as Collateral Agent

                                    By: /s/ Caryn Dorfman
                                       -----------------------------------------
                                    Name: Caryn Dorfman
                                         ---------------------------------------
                                    Title: Assistant Vice President
                                          --------------------------------------
                                    Address for Notices:
                                    Metropolitan Loans D
                                    One Detroit Center, 6th Floor
                                    500 Woodward Avenue
                                    Detroit, Michigan 48226
                                    Fax No.: 313/222-3503
                                    Telephone No.:313/222-6034
                                    Attention: Caryn Dorfman

                                       5

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