Document:

EX-4.(f)(125)

BACKUP SERVICING AGREEMENT

BACKUP SERVICING AGREEMENT (the “Agreement”), dated as of December 3, 2009, among
WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association organized under the laws of
the United States (“Wells Fargo”), as backup servicer (the “Backup Servicer”), and
as trust collateral agent (the “Trust Collateral Agent”), CREDIT ACCEPTANCE CORPORATION, a
Michigan corporation (“Credit Acceptance” or the “Servicer”), CREDIT ACCEPTANCE
FUNDING LLC 2009-1, a Delaware limited liability company (the “Seller”) and CREDIT
ACCEPTANCE AUTO LOAN TRUST 2009-1, a Delaware statutory trust (the “Trust” or the
“Issuer”) .

W I T N E S S E T H

:

WHEREAS, the Issuer, the Seller, Credit Acceptance and Wells Fargo have entered into a Sale
and Servicing Agreement, dated as of the Closing Date (as amended, restated, supplemented or
otherwise modified from time to time, the “Sale and Servicing Agreement”);

WHEREAS, the parties to the Sale and Servicing Agreement desire to obtain the services of the
Backup Servicer to perform certain servicing functions and assume certain obligations with respect
to the Sale and Servicing Agreement, all as set forth herein, and the Backup Servicer has agreed to
perform such functions and assume such obligations; and

WHEREAS, for its services hereunder and with respect to the Sale and Servicing Agreement, the
Backup Servicer will receive a fee payable as described herein;

NOW THEREFORE, in consideration for the mutual agreements contained herein and for other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
hereto agree as follows:

ARTICLE 1

DEFINITIONS

SECTION 1.1. Definitions. All capitalized terms not otherwise defined herein shall
have the meanings specified in, or incorporated by reference to, the Sale and Servicing Agreement.
The following terms shall have the meanings specified below:

“Aggregate Basis” means verification of only such aggregated amounts as are stated in
the Servicer’s Certificate, and not as to any amount related to any Loan or Contract.

“Assumption Date” has the meaning specified in Section 2.3(a).

“Backup Servicer Event of Default” has the meaning specified in Section 4.1.

“Backup Servicer’s Certificate” has the meaning specified in Section 2.10.

“Backup Servicing Fee” means, as to each Distribution Date, $4,000; provided,
however, that if the Backup Servicer becomes the successor Servicer, such fee shall no
longer be paid.

“Continued Errors” has the meaning specified in Section 2.2(c)(iii).

“Errors” has the meaning specified in Section 2.2(c)(iii).

“Liability” has the meaning specified in Section 2.2(c)(i).

“Live Data Files” has the meaning specified in Section 2.6(a).

“Servicer’s Data File” has the meaning specified in Section 2.1(a).

“Service-Related Activities” means the services and service-related activities and the
servicer-related responsibilities of the Servicer provided for under the Sale and Servicing
Agreement as modified or eliminated herein with respect to the Backup Servicer.

“Servicing Fee” has the meaning given such term in Section 1.01 of the Sale and
Servicing Agreement.

“Successor Backup Servicer” has the meaning specified in Section 2.4(b).

“Third Party” has the meaning specified in Section 2.9(d).

SECTION 1.2. Usage of Terms. With respect to all terms in this Agreement, the
singular includes the plural and the plural the singular; words importing any gender include the
other gender; references to “writing” include printing, typing, lithography, and other means of
reproducing words in a visible form; references to agreements and other contractual instruments
include all subsequent amendments thereto or changes therein entered into in accordance with their
respective terms and not prohibited by this Agreement; references to Persons include their
permitted successors and assigns; and the term “including” means “including without limitation.”

SECTION 1.3. Section References. All section references shall be to Sections in this
Agreement (unless otherwise provided).

ARTICLE 2

ADMINISTRATION AND COLLECTION

SECTION 2.1. Reconciliation of Servicer’s Certificate.

(a) The Backup Servicer shall, within one (1) Business Day of receipt of the Servicer’s Data
File, load the Servicer’s Data File delivered to it in accordance with Section 4.09(b) of the Sale
and Servicing Agreement and confirm that it is in readable form. If the Backup Servicer determines
that the Servicer’s Data File is not in readable form, the Backup Servicer shall immediately upon
discovery thereof notify the Servicer and the Trust Collateral Agent by telephone, and upon such
notification, the Servicer shall prepare and send a replacement Servicer’s Data File to the Backup
Servicer satisfying the Backup Servicer’s specifications, for receipt by the Backup Servicer on the
next Business Day.

(b) The Backup Servicer shall review the information contained in the Servicer’s Certificate
delivered to it in accordance with Section 4.09(a) of the Sale and Servicing Agreement against the
information on the Servicer’s Data File, on an Aggregate Basis. No later than three (3) Business
Days after the Backup Servicer’s receipt of each Servicer’s Certificate, the Backup Servicer shall
notify the Servicer, the Trust Collateral Agent and the Indenture Trustee of any inconsistencies
between the Servicer’s Certificate and the information contained in the Servicer’s Data File;
provided, however, in the absence of a reconciliation, the Servicer’s Certificate
shall control for the purpose of calculations and distributions with respect to the related
Distribution Date. If the Backup Servicer and the Servicer are unable to reconcile discrepancies
with respect to a Servicer’s Certificate prior to the related Distribution Date, the Servicer shall
cause a firm of independent accountants, at the Servicer’s expense, to audit the Servicer’s
Certificate and, prior to the third Business Day, but in no event later than the fifth calendar
day, of the following month, reconcile the discrepancies. The effect, if any, of such
reconciliation shall be reflected in the Servicer’s Certificate for such next Distribution Date.
The Backup Servicer shall only review the information provided by the Servicer in the Servicer’s
Certificate and in the Servicer’s Data File and its obligation to report any inconsistencies shall
be limited to those determinable from such information.

(c) The Backup Servicer and the Servicer shall attempt to reconcile any such inconsistencies
and/or to furnish any omitted information and the Servicer shall amend the Servicer’s Certificate
to reflect the results of the reconciliation or to include any omitted information.

(d) On or before the end of the second Business Day prior to each Determination Date, the
Servicer shall provide to the Backup Servicer, or its agent, information on the Loans and related
Contracts sufficient to enable the Backup Servicer to assume the responsibilities as successor
servicer under the Sale and Servicing Agreement and service and collect the Loans and related
Contracts.

(e) The Servicer shall provide the Backup Servicer with any and all updates to the master file
data layout and copy book information necessary due to system changes or modifications, which may
require changes to the Backup Servicer’s applications necessary to read the Servicer’s Data File.

SECTION 2.2. Review and Verification.

(a) Notwithstanding anything in Section 2.1 to the contrary, on or before the end of
the second Business Day prior to each Determination Date, the Servicer and the Trust Collateral
Agent shall provide sufficient data to the Backup Servicer to allow the Backup Servicer to review
and to verify the mathematical accuracy of the Servicer’s Certificate on an Aggregate Basis related
thereto and determine the following:

(i) that such Servicer’s Certificate is complete on its face;

(ii) that the amounts credited to and withdrawn from the Collection Account and
the balance of such account, as set forth in the records of the Trust Collateral
Agent are the same as the amount set forth in the Servicer’s Certificate; and

(iii) that the amounts credited to and withdrawn from the Reserve Account and
the balance of such account, as set forth in the records of the Trust Collateral
Agent are the same as the amount set forth in the Servicer’s Certificate.

(b) The Backup Servicer shall, on or before the day prior to the Distribution Date with
respect to any Collection Period, verify the mathematical accuracy of the Servicer’s Certificate in
its entirety, which shall include but not be limited to the following:

(i) the amount of the related distribution allocable to principal;

(ii) the amount of the related distribution allocable to interest;

(iii) the amount of the related distribution payable out of the Reserve
Account;

(iv) the Aggregate Outstanding Net Eligible Loan Balance, the Aggregate
Outstanding Eligible Loan Balance and the aggregate Outstanding Balance of all
Eligible Contracts as of the close of business on the last day of the preceding
Collection Period;

(v) the Class A Note Balance, the Class B Note Balance, and the Class C Note
Balance;

(vi) the amount of the Servicing Fee paid to the Servicer with respect to the
related Collection Period and/or due but unpaid with respect to such Collection
Period or prior Collection Periods, as the case may be;

(vii) the Class A Interest Carryover Shortfall, if any, and the Class B
Interest Carryover Shortfall, if any;

(viii) the total amount of Collections for the related Collection Period; and

(ix) the aggregate Purchase Amount for the Ineligible Loans and Ineligible
Contracts, if any, that was paid in such period.

(c) The Backup Servicer shall provide written notice to the Trust Collateral Agent with
respect to whether there are any inconsistencies or deficiencies with respect to its review and
verification set forth in paragraphs (a) and (b) above and, if any, shall provide a description
thereof as set forth in Section 2.10 hereof. In the event of any discrepancy between the
information set forth in subparagraphs (a) and (b) above, as calculated by the Servicer, from that
determined or calculated by the Backup Servicer, the Backup Servicer shall promptly notify the
Servicer and, if within five (5) days of such notice being provided to the Servicer, the Backup
Servicer and the Servicer are unable to resolve such discrepancy, the Backup Servicer shall
promptly notify the Trust Collateral Agent of such discrepancy.

(i) Other than as specifically set forth elsewhere in this Agreement, the
Backup Servicer shall have no obligation to supervise, verify, monitor or administer
the performance of the Servicer and shall have no duty, responsibility, obligation,
or liability (collectively “Liability”) for any action taken or omitted by
the Servicer.

(ii) The Backup Servicer shall consult with the Servicer as may be necessary
from time to time to perform or carry out the Backup Servicer’s obligations
hereunder, including the obligation, if requested in writing by the Trust Collateral
Agent, to succeed within thirty (30) days to the duties and obligations of the
Servicer pursuant to Section 2.3.

(iii) Except as otherwise provided in this Agreement, the Backup Servicer may
accept and reasonably rely on all accounting, records and work of the Servicer
without audit, and the Backup Servicer shall have no Liability for the acts or
omissions of the Servicer or for the inaccuracy of any data provided, produced or
supplied by the Servicer. If any error, inaccuracy or omission (collectively,
“Errors”) exists in any information received from the Servicer, and such
Errors should cause or materially contribute to the Backup Servicer making or
continuing any Errors (collectively, “Continued Errors”), the Backup
Servicer shall have no Liability for such Continued Errors; provided,
however, that this provision shall not protect the Backup Servicer against
any Liability which would otherwise be imposed by reason of willful misfeasance, bad
faith or gross negligence in discovering or correcting any Error or in the
performance of its duties hereunder or under the Sale and Servicing Agreement. In
the event the Backup Servicer becomes aware of Errors and/or Continued Errors which,
in the opinion of the Backup Servicer impairs its ability to perform its services
hereunder, the Backup Servicer: (i) shall promptly notify the Servicer of such
Errors and/or Continued Errors; and (ii) may use its best efforts to reconstruct and
reconcile such data as it deems appropriate to correct such Errors and/or Continued
Errors and prevent future Continued Errors. The Backup Servicer shall be entitled
to recover its costs thereby expended from the Servicer.

(iv) The Backup Servicer and its officers, directors, employees and agents
shall be indemnified by the Servicer and the Issuer, jointly and severally, from and
against all claims, damages, losses or expenses reasonably incurred by the Backup
Servicer (including reasonable attorney’s fees and expenses) arising out of claims
asserted against the Backup Servicer on any matter arising out of this Agreement to
the extent the act or omission giving rise to the claim accrues before the
Assumption Date, except for any claims, damages, losses or expenses arising from the
Backup Servicer’s own willful misfeasance, bad faith or gross negligence. The
obligations of the Servicer and the Issuer under this Section shall survive the
termination of this Agreement and the earlier resignation or removal of the Backup
Servicer.

(v) To the extent the Backup Servicer requires any information supplementing
reports or data that is to be provided to it pursuant to the Basic Documents in
order to complete its verification duties, the Backup Servicer’s verification duties
are conditioned upon timely receipt by the Backup Servicer of such information.

SECTION 2.3. Assumption of Servicer’s Obligations.

(a) The Backup Servicer agrees that within 30 days of receipt of a written notice from the
Trust Collateral Agent (acting at the written direction of the Majority Noteholders) of the
termination of the rights and obligations of Credit Acceptance as Servicer pursuant to the Sale and
Servicing Agreement, and without further notice, the Backup Servicer shall, subject to the
exclusions stated herein, assume the Service-Related Activities of Credit Acceptance under the Sale
and Servicing Agreement (the “Assumption Date”) and further agrees that it shall assume all
such Service-Related Activities in accordance with the requirements, terms and conditions set forth
in the Sale and Servicing Agreement and this Agreement. In the event of a conflict between any
provision of the Sale and Servicing Agreement and this Agreement, this Agreement shall be
controlling.

(b) In the event of an assumption by the Backup Servicer of the Servicer-Related Activities of
Credit Acceptance under the Sale and Servicing Agreement, the Backup Servicer shall not be
obligated to perform the obligations imposed in the following Sections of the Sale and Servicing
Agreement: Sections 3.02 (provided that the Backup Servicer shall be obligated to inform the other
parties to this Agreement of the breaches or failures set forth in Section 3.02 of which a
Responsible Officer has actual knowledge), 4.01(c), 4.01(d)(i), 4.01(d)(ii), 4.04, 4.06(a)(iii),
4.06(a)(v), 4.06(a)(vi)(B), 4.06(a)(ix), 4.06(a)(x), 4.06(b)(i), 4.06(b)(ii), 4.06(b)(v) (only with
respect to the Servicer’s obligation to defend the right, title and interest of the Trust
Collateral Agent in the Trust Property against the claims of third parties), 4.07 (provided that
the Backup Servicer shall be obligated to inform the other parties to this Agreement of certain
breaches detailed in Section 4.07 of which a Responsible Officer has actual knowledge in the manner
described therein), 4.11, 5.01(b), 5.01(c), 5.02 (only with respect to the amount of time in which
the Servicer is required to remit Collections to the Collection Account which, in the case of Wells
Fargo Bank, National Association, after the Assumption Date, will be within one (1) Business Day of
receipt of such Collections with respect to cleared funds, and in all other cases will be within
three (3) Business Days of receipt of such Collections), 5.09(b), 5.10(b), 7.01, 7.02 (provided
that the Backup Servicer shall be liable under Section 7.02(iii) of the Sale and Servicing
Agreement as to action taken by it as successor Servicer), 7.03, 7.06, 8.01(v), 9.05 or 10.01(b).

SECTION 2.4. Servicing and Retention of Servicer.

(a) Subject to early termination of the Backup Servicer due to the occurrence of a Backup
Servicer Event of Default, or pursuant to Article 4, or as otherwise provided in this Section
2.4, on and after the Assumption Date, the Backup Servicer shall be responsible for the
servicing, administering, managing and collection of the Loans and Contracts in accordance herewith
and the Sale and Servicing Agreement.

(b) In the event of a Backup Servicer Event of Default, the Trust Collateral Agent may, or, at
the direction of the Majority Noteholders, shall terminate the Backup Servicer as successor
Servicer and Backup Servicer hereunder. In addition, prior to the Assumption Date, the Trust
Collateral Agent may, in its discretion, or, at the direction of the Majority Noteholders, shall,
without cause, upon not less than 30 days’ advance written notice, terminate the Backup Servicer as
successor Servicer and Backup Servicer hereunder. Upon the termination or resignation of the
Backup Servicer hereunder, the Majority Noteholders shall have the right to appoint a successor
Backup Servicer (the “Successor Backup Servicer”) and enter into a backup servicing
agreement with such Successor Backup Servicer at such time and exercise all of its rights under
Section 4.15 of the Sale and Servicing Agreement; provided, however, that if such
termination or resignation of the Backup Servicer occurs prior to the Assumption Date, the
appointment of the Successor Backup Servicer shall be mutually acceptable to Credit Acceptance and
the Majority Noteholders. Such backup servicing agreement shall specify the duties and obligations
of the Successor Backup Servicer, and all references herein and in the Sale and Servicing Agreement
to the Backup Servicer shall be deemed to refer to such Successor Backup Servicer.

(c) The Backup Servicer shall not resign from the obligations and duties imposed on it by this
Agreement or the Sale and Servicing Agreement, as successor servicer or as Backup Servicer, as
applicable, except upon a determination that by reason of a change in legal requirements, the
performance of its duties hereunder or under the Sale and Servicing Agreement would cause it to be
in violation of such legal requirements in a manner which would have a material adverse effect on
the Backup Servicer. Any such determination permitting the resignation of the Backup Servicer
pursuant to this Section 2.4(c) shall be evidenced by an opinion of counsel to such effect
delivered and acceptable to the Majority Noteholders. No resignation of the Backup Servicer shall
become effective until an entity reasonably acceptable to the Majority Noteholders shall have
assumed the responsibilities and obligations of the Backup Servicer.

(d) Any Person: (i) into which the Backup Servicer may be merged or consolidated; (ii)
resulting from any merger or consolidation to which the Backup Servicer shall be a party; (iii)
which acquires by conveyance, transfer or lease substantially all of the assets of the Backup
Servicer; or (iv) succeeding to the business of the Backup Servicer, in any of the foregoing cases
shall execute an agreement of assumption to perform every obligation of the Backup Servicer under
this Agreement and the Sale and Servicing Agreement, whether or not such assumption agreement is
executed, shall be the successor to the Backup Servicer under this Agreement and the Sale and
Servicing Agreement without the execution or filing of any paper or any further act on the part of
any of the parties to this Agreement or the Sale and Servicing Agreement, anything herein or
therein to the contrary notwithstanding; provided, however, that nothing contained
herein or therein shall be deemed to release the Backup Servicer from any obligation hereunder or
under the Sale and Servicing Agreement.

(e) Following the Assumption Date, beginning with the calendar year ending December 31, 2010,
the Backup Servicer shall be required to deliver to the Indenture Trustee and the Trust Collateral
Agent on or before one hundred twenty (120) days after the end of the Backup Servicer’s fiscal
year, with respect to such fiscal year, a copy of its annual SAS-70 and its audited financial
statements for such fiscal year.

(f) Concurrently with the delivery of the financial reports delivered under (e) above, a
report in substantially the form attached to this Agreement as Exhibit I and certified by the chief
financial officer of the Backup Servicer, certifying that no Backup Servicer Event of Default and
no event which, with the giving of notice or the passage of time, would become a Backup Servicer
Event of Default has occurred and is continuing or, if any such Backup Servicer Event of Default or
other event has occurred and is continuing, such a Backup Servicer Event of Default has occurred
and is continuing, the action which the Backup Servicer has taken or proposes to take with respect
thereto, shall be delivered to the Indenture Trustee and the Trust Collateral Agent.

SECTION 2.5. Servicing Duties of the Backup Servicer. On and after the Assumption
Date:

(a) The Backup Servicer shall take or cause to be taken all such action as may be necessary or
advisable to collect all amounts due under the Loans and Contracts from time to time, all in
accordance with applicable laws, rules and regulations, with reasonable care and diligence, and in
accordance with the Collection Guidelines. There shall be no recourse to the Backup Servicer with
regard to the Loans and Contracts. The Backup Servicer shall hold in trust for the Trust
Collateral Agent all records which evidence or relate to all or any part of the Trust Estate. In
the event that a Successor Backup Servicer is appointed, the outgoing Backup Servicer shall deliver
to the Successor Backup Servicer and the Successor Backup Servicer shall hold in trust for the
Trust Collateral Agent all records which evidence or relate to all or any part of the Trust Estate.

(b) The Backup Servicer shall as soon as practicable upon demand, deliver to the Issuer all
records in its possession which evidence or relate to indebtedness of an Obligor which is not a
Loan or Contract.

(c) The Backup Servicer shall remit to the Collection Account within two (2) Business Days of
receipt, all Collections.

(d) In addition to the obligations of the Backup Servicer under this Agreement, the Backup
Servicer shall perform all of the obligations of the Servicer as servicer under the Sale and
Servicing Agreement, except as set forth in Section 2.3(b) hereof or as otherwise modified
by this Agreement or the Sale and Servicing Agreement. Without limiting the foregoing and anything
provided for herein, the Backup Servicer shall perform the following in substantially the same
manner and level at which Credit Acceptance performs such on the date hereof: (a) customer service
inquiries/responsibilities; (b) collections on delinquent and charged-off contracts; (c) insurance
monitoring and the making of claims with respect thereto; (d) creating the Servicer’s Certificates;
(e) repossession and other legal actions; (f) statements to performing contracts and other
correspondence; (g) reconciliation of dealer holdback payments; (h) inventory management; (i)
maintenance of lock-box accounts; (j) electronic skip tracing; and (k) document storage and title
maintenance.

SECTION 2.6. Other Obligations of the Backup Servicer and Servicer.

(a) No later than 45 days after the Closing Date, Credit Acceptance shall provide a Live Data
File (as defined below) transmission to the Backup Servicer, which shall include the Loan and
Contract master file, the transaction history file and all other files necessary to carry out the
Service-Related Activities received in connection herewith (the “Live Data Files”). Within
60 days of the Closing Date, the Backup Servicer shall convert the Live Data Files to its internal
systems, and no later than five (5) Business Days after the receipt thereof, shall confirm in
writing to Credit Acceptance the accuracy and completeness of the conversion; provided,
however, that such confirmation shall not be deemed to apply to the accuracy of the Live
Data Files as provided by Credit Acceptance, but shall be deemed only to apply to the accuracy of
the conversion of the Live Data Files to the Backup Servicer’s internal systems. In the event of
any changes in format with respect to either Credit Acceptance or the Backup Servicer, Credit
Acceptance and the Backup Servicer shall coordinate with each other for the replacement of the data
files with files in the correct format, modified accordingly.

(b) In connection with the Backup Servicer assuming the obligations of Servicer hereunder and
under the Sale and Servicing Agreement, Credit Acceptance agrees that it shall: (i) promptly make
available to the Backup Servicer access to all records and information in the possession of Credit
Acceptance related to the Loans and the Contracts as may be necessary or reasonably requested by
the Backup Servicer in connection with the performance of the Backup Servicer’s obligations
hereunder and thereunder; and (ii) cooperate in good faith with the Backup Servicer and the Trust
Collateral Agent in connection with any transition of the servicing of the Loans and Contracts to
the Backup Servicer.

SECTION 2.7. Servicing Compensation. As compensation for the performance of its
obligations under this Agreement and with respect to the Sale and Servicing Agreement, the Backup
Servicer is entitled to: (i) prior to the Assumption Date, the Backup Servicing Fee and (ii) after
the Assumption Date, the sum of: (A) the Servicing Fee, (B) any Repossession Expenses, (C) any
Reliening Expenses and (D) any Transition Expenses.

SECTION 2.8. Trust Collateral Agent’s Rights. At any time following the Assumption
Date:

(a) The Trust Collateral Agent or the Backup Servicer may direct that payment of all amounts
payable under any Loans or Contracts be made directly to the Backup Servicer, the Trust Collateral
Agent or its designee.

(b) The Servicer shall, (unless otherwise directed by the Trust Collateral Agent) (i) assemble
all of the records relating to the Trust Estate and shall make the same available to the Backup
Servicer (or the Trust Collateral Agent if so directed by the Trust Collateral Agent) at a place
selected by the Backup Servicer or the Trust Collateral Agent, as applicable; provided,
however, that the Servicer will be entitled to retain copies of all records provided
pursuant to this Section 2.8(b), and (ii) segregate all cash, checks and other instruments
received by it from time to time constituting Collections in a manner acceptable to the Trust
Collateral Agent and shall, promptly upon receipt but no later than one (1) Business Day after
receipt, remit all such cash, checks and instruments, duly endorsed or with duly executed
instruments of transfer, as directed by the Trust Collateral Agent or the Backup Servicer.

(c) Credit Acceptance hereby authorizes the Trust Collateral Agent and the Backup Servicer to
take any and all steps in Credit Acceptance’s name and on behalf of Credit Acceptance necessary or
desirable, in the determination of the Backup Servicer or the Trust Collateral Agent acting in
“good faith” (as such term is defined in Article 9 of the UCC), to collect all amounts due under
any and all of the Loans, including, without limitation, endorsing Credit Acceptance’s name on
checks and other instruments representing Collections and enforcing the Loans and Contracts;
provided, however, that the Trust Collateral Agent shall not have an affirmative
obligation to carry out such duties.

SECTION 2.9. Liability of the Backup Servicer; Standard of Care.

(a) The Backup Servicer shall not be liable for its actions or omissions hereunder except for
its negligence, willful misconduct or breach of this Agreement not caused by another party to this
Agreement, or for any recitals, statements, representations or warranties made expressly by the
Backup Servicer.

(b) The Backup Servicer shall indemnify, defend and hold harmless the Servicer and its
respective officers, directors, agents and employees from and against any and all costs, expenses,
losses, claims, damages and liabilities to the extent that such cost, expense, loss, claim, damage
or liability arose out of, or was imposed upon the Servicer through the Backup Servicer’s breach of
this Agreement, the willful misfeasance, bad faith or negligence of the Backup Servicer in the
performance of its duties under this Agreement or by reason of reckless disregard of its
obligations and duties under this Agreement.

(c) The Servicer shall indemnify, defend and hold harmless the Backup Servicer and its
respective officers, directors, agents and employees from and against any and all costs, expenses,
losses, claims, damages and liabilities to the extent that such cost, expense, loss, claim, damage
or liability arose out of, or was imposed upon the Backup Servicer through the Servicer’s breach of
this Agreement, the willful misfeasance, bad faith or negligence of the Servicer in the performance
of its duties under this Agreement or by reason of reckless disregard of its obligations and duties
under this Agreement.

(d) The Backup Servicer may accept and reasonably rely on all accounting and servicing records
and other documentation provided to the Backup Servicer by or at the direction of the Servicer,
including documents prepared or maintained by any originator, or previous servicer, or any party
providing services related to the Loans or Contracts (collectively, the “Third Party”).
The Servicer agrees to indemnify (subject to the limitation provided in subsection (e) below) and
hold harmless the Backup Servicer, its respective officers, employees and agents against any and
all claims, losses, penalties, fines, forfeitures, legal fees and related costs, judgments, and any
other costs, fees and expenses that the Backup Servicer may sustain in any way related to the
negligence or misconduct of any Third Party with respect to the Loans or Contracts. The Backup
Servicer shall have no Liability for the acts or omissions of any such Third Party or for the
inaccuracy of any data provided, produced or supplied by such Third Party. If any Error exists in
any information provided to the Backup Servicer and such Errors cause or materially contribute to
the Backup Servicer making a Continuing Error, the Backup Servicer shall have no liability for such
Continued Errors; provided, however, that this provision shall not protect the
Backup Servicer against any liability which would otherwise be imposed by reason of willful
misfeasance, bad faith or gross negligence in discovering or correcting any error or in the
performance of its duties contemplated herein.

(e) Indemnification under this Article shall include, without limitation, reasonable fees and
expenses of counsel and expenses of litigation. If the indemnifying party has made any indemnity
payments pursuant to this Article and the recipient thereafter collects any of such amounts from
others, the recipient shall promptly repay such amounts collected to the indemnifying party,
together with any interest earned thereon.

(f) In performing the Service-Related Activities contemplated by this Agreement, the Backup
Servicer agrees to comply in all respects with the applicable state and federal laws and will carry
out such activities with the same degree of care as that provided for the Servicer under the Sale
and Servicing Agreement. The Backup Servicer shall maintain all state and federal licenses and
franchises necessary for it to perform Service-Related Activities. The Backup Servicer shall not
have any Liability for any Error or Continued Error by the Servicer, or for any error, inaccuracy
or omission of the Servicer before the Backup Servicer assumes the Service-Related Activities.

(g) Neither the Backup Servicer nor any of the directors or officers or employees or agents of
the Backup Servicer shall be under any liability to the Servicer or any party to this Agreement or
the Sale and Servicing Agreement except as provided in this Agreement, for any action taken or for
refraining from the taking of any action in good faith pursuant to this Agreement;
provided, however, that this provision shall not protect the Backup Servicer or any
such person against any liability that would otherwise be imposed by reason of a breach of this
Agreement or willful misfeasance, bad faith or gross negligence (excluding errors in judgment) in
the performance of duties, by reason of reckless disregard of obligations and duties under this
Agreement or any violation of law by the Backup Servicer or such person, as the case may be. The
Backup Servicer and any director, officer, employee or agent of the Backup Servicer may
conclusively rely and shall be fully protected in acting or refraining from acting upon any
document, certificate, instrument, opinion, notice, statement, consent, resolution, entitlement
order, approval or conversation believed by it to be genuine and made by the proper person and upon
the advice or opinion of counsel or other experts selected by it. The Backup Servicer shall not be
liable for an error of judgment made in good faith by a Responsible Officer of the Backup Servicer,
unless it shall be proven that the Backup Servicer was negligent in ascertaining the pertinent
facts.

(h) The Backup Servicer shall maintain its existence and rights as a national banking
association under the laws of the jurisdiction of its organization, and will obtain and preserve
its qualification to do business in each jurisdiction in which the failure to so qualify would have
an adverse effect on the validity or enforceability of any Contract, Dealer Agreement, Purchase
Agreement, this Agreement or on the ability of the Backup Servicer to perform its duties under this
Agreement.

(i) The provisions of this Section shall survive the termination of this Agreement.

(j) The Backup Servicer shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report, notice, request,
consent, entitlement order, approval or other paper or document.

(k) The Backup Servicer may execute any of the trusts or powers hereunder or perform any
duties hereunder either directly or by or through agents, attorneys, custodians or nominees
appointed with due care.

(l) To the extent that the Backup Servicer is not indemnified by the Servicer pursuant to
Section 2.2 hereunder and under the Sale and Servicing Agreement, such amounts shall be
reimbursable by the Issuer pursuant to Section 5.08(a) of the Sale and Servicing Agreement.

SECTION 2.10. Monthly Backup Servicer’s Certificate. Prior to the Assumption Date, on
or before 12:00 noon (New York City time) on the Business Day preceding each Distribution Date, the
Backup Servicer shall deliver or cause to be delivered to the Trust Collateral Agent a certificate
(the “Backup Servicer’s Certificate”), in form and substance satisfactory to the Majority
Noteholders, signed by an officer of the Backup Servicer, stating that: (i) the Backup Servicer has
loaded the Servicer’s Data File as described in Section 2.1(a) on its hardware; (ii) a
review of the Servicer’s Certificate for the related Distribution Date has been made under such
officer’s supervision; (iii) the Backup Servicer has received the Live Data File described in
Section 2.6(a); and (iv) to such officer’s knowledge: (x) the electronic media is in
readable form; (y) with respect to the review and verification set forth in Section 2.2(a)
and 2.2(b), the data on the Servicer’s Data File tie to the related Servicer’s Certificate
resulting in no discrepancies between them; and (z) the Servicer’s Certificate does not contain any
errors in accordance with the review criteria set forth in Section 2.2(a) hereunder. If
the preceding statements cannot be made in the affirmative, the applicable officer shall state the
nature of any and all anomalies, discrepancies and errors, and indicate all actions it is currently
taking with the Servicer to reconcile and/or correct the same. Each Backup Servicer’s Certificate
shall be dated as of the related Determination Date. Upon the request of the Indenture Trustee or
the Trust Collateral Agent, a Backup Servicer’s Certificate shall be accompanied by copies of any
third party reports relied on or obtained in connection with the Backup Servicer’s duties
hereunder. The Backup Servicer, with respect to the Backup Servicer’s Certificate, shall not be
responsible for delays attributable to the failure of the Servicer or any other Person to deliver
information, defects in the information supplied by the Servicer or any other Person or other
circumstances beyond the control of the Backup Servicer. After the Assumption Date, the Backup
Servicer shall deliver the Servicer’s Certificate in accordance with Section 4.09 of the Sale and
Servicing Agreement.

SECTION 2.11. Backup Servicer’s Expenses. The Backup Servicer shall be required to
pay all expenses incurred by it in connection with its activities hereunder, including fees and
disbursements of independent accountants, taxes imposed on the Backup Servicer and expenses
incurred in connection with distributions and reports to the Servicer and the Trust Collateral
Agent. When the Backup Servicer incurs expenses after the occurrence of a Servicer Default
specified in Section 8.01 of the Sale and Servicing Agreement or an Indenture Event of Default
specified in Section 5.1 of the Indenture, the parties hereto intend that such expenses constitute
expenses of administration under the Bankruptcy Code or any other applicable Federal or State
bankruptcy, insolvency or similar law.

ARTICLE 3

REPRESENTATIONS AND WARRANTIES

SECTION 3.1. Representations and Warranties of the Backup Servicer. The Backup
Servicer represents, warrants and covenants as of the date of execution and delivery of this
Agreement:

(a) Organization and Good Standing. The Backup Servicer has been duly organized and
is validly existing as a national banking association in good standing under the laws of its
jurisdiction, with power, authority and legal right to own its properties and to conduct its
business as such properties are currently owned and such business is currently conducted, and had
at all relevant times, and now has, power, authority and legal right to enter into and perform its
obligations under this Agreement or the Sale and Servicing Agreement.

(b) Due qualification. The Backup Servicer is duly qualified to do business as a
national banking association in good standing, and has obtained all necessary licenses and
approvals, in all jurisdictions where the failure to do so would materially and adversely affect
the performance of its obligations under this Agreement or the Sale and Servicing Agreement.

(c) Power and Authority. The Backup Servicer has the power and authority to execute
and deliver this Agreement and to carry out the terms hereof; and the execution, delivery and
performance of this Agreement have been duly authorized by the Backup Servicer by all necessary
corporate action.

(d) Binding Obligation. This Agreement shall constitute the legal, valid and binding
obligation of the Backup Servicer enforceable in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws
affecting the enforcement of creditors’ rights generally and by equitable limitations on the
availability of specific remedies, regardless of whether such enforceability is considered in a
proceeding in equity or at law.

(e) No Violation. The execution and delivery of this Agreement, the consummation of
the transactions contemplated by this Agreement, and the fulfillment of the terms hereof, shall not
conflict with, result in any breach of any of the terms and provisions of, or constitute (with or
without notice or lapse of time, or both) a default under, the certificate of incorporation or
bylaws of the Backup Servicer, or any indenture, agreement, mortgage, deed of trust or other
instrument to which the Backup Servicer is a party or by which it is bound, or result in the
creation or imposition of any lien upon any of its properties pursuant to the terms of any such
indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement, or
violate any law, order, rule or regulation applicable to the Backup Servicer of any court or of any
federal or state regulatory body, administrative agency or other governmental instrumentality
having jurisdiction over the Backup Servicer or any of its properties.

(f) No Proceedings. There are no proceedings or investigations pending or, to the
Backup Servicer’s knowledge, threatened against the Backup Servicer, before any court, regulatory
body, administrative agency or other tribunal or governmental instrumentality having jurisdiction
over the Backup Servicer or its properties: (i) asserting the invalidity of this Agreement, (ii)
seeking to prevent the consummation of any of the transactions contemplated by this Agreement, or
(iii) seeking any determination or ruling that might materially and adversely affect the
performance by the Backup Servicer of its obligations under, or the validity or enforceability of,
this Agreement.

(g) The Backup Servicer is not required to obtain the consent of any other party or any
consent, license, approval or authorization, or registration or declaration with, any governmental
authority, bureau or agency in connection with the execution, delivery, performance, validity or
enforceability of this Agreement.

(h) Facilities. The Backup Servicer has adequate facilities and employees in place to
handle the following, in accordance with its Collection Guidelines, including, but not limited to:
(i) customer service inquiries/responsibilities; (ii) collections on delinquent and charged-off
contracts; (iii) insurance monitoring and the making of claims with respect thereto; (iv) creating
the Servicer’s Certificate; (v) repossession and other legal actions; (vi) statements to performing
accounts and other correspondence; (vii) reconciliation of dealer holdback payments; (viii)
inventory management; (ix) maintenance of lock-box accounts; (x) electronic skip tracing; and (xi)
document storage and title maintenance.

(i) The Backup Servicer shall take all actions it deems necessary to commence servicing within
30 days of receipt of written notice from the Trust Collateral Agent (acting at the written
direction of the Majority Noteholders), including without limitation, hiring and training new
personnel and purchasing any necessary equipment.

(j) The Backup Servicer will keep gateways, hardware, software, systems and the interface used
to fulfill its obligations hereunder up-to-date as necessary to ensure continuing compatibility
with Credit Acceptance’s systems, utilized by Credit Acceptance in its capacity as Servicer, and
otherwise maintain a technology platform that will enable the Backup Servicer to fulfill its
obligations at all times, provided that the Backup Servicer will not be responsible for ensuring
compatibility with systems changed or modified by Credit Acceptance unless Credit Acceptance
notifies the Backup Servicer of such changes or modifications.

(k) The Backup Servicer and all of its employees performing the services described hereunder
will perform such services in accordance with industry standards applicable to the performance of
such services, and with the same degree of care as it applies to the performance of such services
for any assets which the Backup Servicer holds for its own account.

(l) Upon a Backup Servicer Event of Default, the Backup Servicer shall promptly notify the
Indenture Trustee who shall distribute such notice to the Noteholders, that a Backup Servicer Event
of Default has occurred.

ARTICLE 4

TERMINATION

SECTION 4.1. Backup Servicer Event of Default.

For purposes of this Agreement, any of the following shall constitute a “Backup Servicer
Event of Default”:

(a) Failure on the part of the Backup Servicer duly to observe or perform in any material
respect any covenant or agreement of the Backup Servicer set forth in this Agreement, which failure
continues unremedied for a period of 30 days after the date on which written notice of such
failure, requiring the same to be remedied, shall have been given to the Backup Servicer by the
Majority Noteholders.

(b) Any failure by the Backup Servicer (x) after the Assumption Date to deposit to the
Collection Account any amount required to be deposited by the Servicer (except for any amounts
required to be deposited by the Servicer under Section 4.07 of the Sale and Servicing Agreement)
and such failure shall continue unremedied for a period of two (2) days or (y) to deliver to the
Trust Collateral Agent or the Noteholders the Backup Servicer’s Certificate on the related
Distribution Date that shall continue unremedied for a period of one (1) Business Day.

(c) The entry of a decree or order by a court or agency or supervisory authority having
jurisdiction in the premises for the appointment of a conservator, receiver, or liquidator for the
Backup Servicer in any insolvency, readjustment of debt, marshalling of assets and liabilities, or
similar proceedings, or for the winding up or liquidation of its respective affairs, and the
continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days
or the entry of any decree or order for relief in respect of the Backup Servicer under any
bankruptcy, reorganization, compromise, arrangement, insolvency, readjustment of debt, or similar
law, whether now or hereafter in effect, which decree or order for relief continues unstayed and in
effect for a period of 60 consecutive days.

(d) The consent by the Backup Servicer to the appointment of a conservator or receiver or
liquidator in any insolvency, readjustment of debt, marshalling of assets and liabilities, or
similar proceedings of or relating to the Backup Servicer or relating to substantially all of its
property; or the admission by the Backup Servicer in writing of its inability to pay its debts
generally as they become due, the filing by the Backup Servicer of a petition to take advantage of
any applicable insolvency or reorganization statute, the making by the Backup Servicer of an
assignment for the benefit of its creditors, or the voluntarily suspension by the Backup Servicer
of payment of its obligations.

(e) Any representation, warranty or statement of the Backup Servicer made in this Agreement or
any certificate, report or other writing delivered by the Backup Servicer pursuant hereto shall
prove to be incorrect in any material respect as of the time when the same shall have been made
and, within 30 days after written notice thereof shall have been given to the Backup Servicer by
the Majority Noteholders, the circumstances or condition in respect of which such representation,
warranty or statement was incorrect shall not have been eliminated or otherwise cured.

SECTION 4.2. Consequences of a Backup Servicer Event of Default.

If a Backup Servicer Event of Default has occurred and is continuing, the Trust Collateral
Agent may, or, at the direction of the Majority Noteholders, shall, by notice given in writing to
the Backup Servicer, terminate all of the rights and obligations of the Backup Servicer under this
Agreement. On or after the receipt by the Backup Servicer of such written notice, all authority,
power, obligations and responsibilities of the Backup Servicer under this Agreement shall be
terminated. The terminated Backup Servicer agrees to cooperate with the Trust Collateral Agent in
effecting the termination of the responsibilities and rights of the terminated Backup Servicer
under this Agreement.

SECTION 4.3. Backup Servicing Termination.

Subject to Section 2.4 hereof, prior to the time the Backup Servicer receives a notice
from the Trust Collateral Agent that the Backup Servicer will become the Servicer, the Backup
Servicer may terminate this Agreement for any reason in its sole judgment and discretion upon
delivery of 90 days advance written notice to the Noteholders and the Trust Collateral Agent of
such termination.

SECTION 4.4. Return of Confidential Information.

Upon termination of this Agreement, the Backup Servicer shall, at the direction of the Trust
Collateral Agent (acting at the direction of the Majority Noteholders), promptly return all written
confidential information and any related electronic and written files and correspondence in its
possession as are related to this Agreement and the Service-Related Activities contemplated
hereunder. The Backup Servicer shall provide reasonable access to its facilities and assistance to
any successor servicer or other party assuming the servicing responsibilities, provided,
however, that such access shall not unreasonably interfere with the Backup Servicer
conducting its day to day operations.

ARTICLE 5

MISCELLANEOUS

SECTION 5.1. Notices, Etc.

(a) On and after the Assumption Date, Credit Acceptance and the Trust Collateral Agent hereby
agree to provide to the Backup Servicer all notices required to be provided to the Servicer
pursuant to the Sale and Servicing Agreement and the other Basic Documents, as well as a hard copy
sent by a nationally recognized courier service with item tracking capability.

(b) Except where telephonic instructions or notices are authorized herein to be given, all
notices, demands, instructions and other communications required or permitted to be given to or
made upon any party hereto shall be in writing and shall be sent electronically or by facsimile
transmission with a confirmation of the receipt thereof and shall be deemed to be given for
purposes of this Agreement on the day that the receipt of such facsimile transmission is confirmed
in accordance with the provisions of this Section 5.1. Unless otherwise specified in a
notice sent or delivered in accordance with the foregoing provisions of this Section, notices,
demands, instructions (including payment instructions) and other communications in writing shall be
given to or made upon the respective parties hereto at their respective addresses and accounts
indicated below, and, in the case of telephonic instructions or notices, by calling the telephone
number or numbers indicated for such party below:

If to the Issuer:

Credit Acceptance Auto Loan Trust 2009-1

c/o U.S. Trust Bank National Association

300 Delaware Avenue, 9th Floor

Wilmington, DE 19801

Attention: Annette Morgan

Telephone: (302) 576-3706

Telecopy: (302) 576-3717

If to the Servicer:

Credit Acceptance Corporation

Silver Triangle Building

25505 West Twelve Mile Road, Suite 3000

Southfield, Michigan 48034-8339

Attention: Doug Busk

Telephone: (248) 353-2700 (ext. 4432)

Telecopy: (866) 249-3138

If to the Trust Collateral Agent:

Wells Fargo Bank, National Association

MAC #9311-161

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services – Asset-Backed Administration

Telephone: (612) 667-8058

Telecopy: (612) 667-3464

If to the Backup Servicer:

Wells Fargo Bank, National Association

MAC #9311-161

Sixth Street and Marquette Avenue

Minneapolis, Minnesota 55479

Attention: Corporate Trust Services – Asset-Backed Administration

Telephone: (612) 667-8058

Telecopy: (612) 667-3464

SECTION 5.2. Successors and Assigns. This Agreement shall be binding upon the Backup
Servicer, and shall inure to the benefit of the Trust Collateral Agent and the Noteholders and
their respective successors and permitted assigns; provided that the Backup Servicer shall not
assign any of its rights or obligations hereunder without the prior written consent of the Majority
Noteholders, and any such assignment in contradiction of the foregoing shall be null and void.

SECTION 5.3. No Bankruptcy Petition Against the Seller and the Issuer. The parties
hereto agree that until one year and one day after such time as the Notes issued under the
Indenture are paid in full, they shall not: (i) institute the filing of a bankruptcy petition
against the Seller or the Issuer based upon any claim in its favor arising hereunder or under the
Basic Documents; (ii) file a petition or consent to a petition seeking relief on behalf of the
Seller or the Issuer under the Bankruptcy Law; or (iii) consent to the appointment of a receiver,
liquidator, assignee, trustee, sequestrator (or similar official) of the Seller or the Issuer or
any portion of the property of the Seller or the Issuer. The parties hereto agree that all
obligations of the Issuer and the Seller are non-recourse to the Issuer and the Seller except as
specifically set forth in the Basic Documents.

SECTION 5.4. Reserved.

SECTION 5.5. Severability Clause. Any provisions of this Agreement which are
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to
the extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

SECTION 5.6. Amendments. This Agreement and the rights and obligations of the parties
hereunder may not be changed orally but only by an instrument in writing signed by the parties
hereto.

SECTION 5.7. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAW
PRINCIPLES THEREOF.

SECTION 5.8. Counterparts. This Agreement may be executed in any number of copies,
and by the different parties hereto on the same or separate counterparts, each of which shall be
deemed to be an original instrument.

SECTION 5.9. Headings. Section headings used in this Agreement are for convenience of
reference only and shall not affect the construction or interpretation of this Agreement.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

IN WITNESS WHEREOF, the Servicer, Wells Fargo, the Issuer and the Seller have caused
this Backup Servicing Agreement to be executed by their respective officers thereunto duly
authorized as of the day and year first above written.

CREDIT ACCEPTANCE CORPORATION,

as Servicer

By: /s/ Douglas Busk

Name: Douglas W. Busk

Title: Senior Vice President and Treasurer

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Backup Servicer and Trust Collateral Agent

By: /s/ Joe Nardi

Name: Joe Nardi

Title: Vice President

CREDIT ACCEPTANCE AUTO LOAN TRUST 2009-1, as Issuer

By: U.S. Bank Trust National Association, not in its

individual capacity but solely as Owner Trustee

By: /s/ Annette Morgan

Name: Annette E. Morgan

Title: Assistant Vice President

CREDIT ACCEPTANCE FUNDING LLC 2009-1,

as Seller

By: /s/ Douglas Busk

Name: Douglas W. Busk

Title: Senior Vice President and Treasurer

Exhibit I

Backup Servicer Certification

	 	 	 	 	 	 	 	 	 
	ARTICLE 1DEFINITIONS 1
	 	 	 	 
	SECTION 1.1.
	 	Definitions	 	 	1	 
	SECTION 1.2.
	 	Usage of Terms	 	 	2	 
	SECTION 1.3.
	 	Section References	 	 	2	 
	ARTICLE 2ADMINISTRATION AND COLLECTION
	 	 	3	 
	SECTION 2.1.
	 	Reconciliation of Servicer’s Certificate	 	 	3	 
	SECTION 2.2.
	 	Review and Verification	 	 	4	 
	SECTION 2.3.
	 	Assumption of Servicer’s Obligations	 	 	6	 
	SECTION 2.4.
	 	Servicing and Retention of Servicer	 	 	7	 
	SECTION 2.5.
	 	Servicing Duties of the Backup Servicer	 	 	8	 
	SECTION 2.6.
	 	Other Obligations of the Backup Servicer and Servicer	 	 	9	 
	SECTION 2.7.
	 	Servicing Compensation	 	 	9	 
	SECTION 2.8.
	 	Trust Collateral Agent’s Rights	 	 	9	 
	SECTION 2.9.
	 	Liability of the Backup Servicer; Standard of Care	 	 	10	 
	SECTION 2.10.
	 	Monthly Backup Servicer’s Certificate	 	 	12	 
	SECTION 2.11.
	 	Backup Servicer’s Expenses	 	 	13	 
	ARTICLE 3REPRESENTATIONS AND WARRANTIES
	 	 	13	 
	SECTION 3.1.
	 	Representations and Warranties of the Backup Servicer	 	 	13	 
	ARTICLE 4TERMINATION
	 	 	 	 	 	 	15	 
	SECTION 4.1.
	 	Backup Servicer Event of Default	 	 	15	 
	SECTION 4.2.
	 	Consequences of a Backup Servicer Event of Default	 	 	16	 
	SECTION 4.3.
	 	Backup Servicing Termination	 	 	16	 
	SECTION 4.4.
	 	Return of Confidential Information	 	 	16	 
	ARTICLE 5MISCELLANEOUS
	 	 	 	 	 	 	16	 
	SECTION 5.1.
	 	Notices, Etc	 	 	16	 
	SECTION 5.2.
	 	Successors and Assigns	 	 	18	 
	SECTION 5.3.
	 	No Bankruptcy Petition Against the Seller and the Issuer	 	 	18	 
	SECTION 5.4.
	 	Reserved	 	 	18	 
	SECTION 5.5.
	 	Severability Clause	 	 	18	 
	SECTION 5.6.
	 	Amendments	 	 	18	 
	SECTION 5.7.
	 	Governing Law	 	 	18	 
	SECTION 5.8.
	 	Counterparts	 	 	18	 
	SECTION 5.9.
	 	Headings	 	 	19EX-4.(f)(126)

AMENDED AND RESTATED TRUST AGREEMENT

between

CREDIT ACCEPTANCE FUNDING LLC 2009-1

Seller

and

U.S. BANK TRUST NATIONAL ASSOCIATION

Owner Trustee

Dated as of December 3, 2009

	 	 	 	 	 	 	 	 	 
	ARTICLE IDefinitions
	 	 	1	 	 	 	 	 
	SECTION 1.1.
	 	Capitalized Terms	 	 	1	 
	SECTION 1.2.
	 	Other Definitional Provisions	 	 	3	 
	ARTICLE IIOrganization
	 	 	 	 	 	 	3	 
	SECTION 2.1.
	 	Declaration of Trust; Name	 	 	3	 
	SECTION 2.2.
	 	Office	 	 	4	 
	SECTION 2.3.
	 	Purposes and Powers	 	 	4	 
	SECTION 2.4.
	 	Appointment of Owner Trustee	 	 	4	 
	SECTION 2.5.
	 	Capital Contribution of Trust Estate	 	 	5	 
	SECTION 2.6.
	 	Status of Trust Under Statutory Trust Act; Certain Income Tax Matters
	 		 5	
	SECTION 2.7.
	 	Liability of Seller	 	 	5	 
	SECTION 2.8.
	 	Appointment of Trust Collateral Agent; Title to Trust Property
	 		 5	
	SECTION 2.9.
	 	Situs of Trust	 	 	6	 
	SECTION 2.10.
	 	Representations and Warranties of the Seller	 	 	6	 
	SECTION 2.11.
	 	Federal Income Tax Treatment of the Trust	 	 	7	 
	SECTION 2.12.
	 	Covenants of the Seller	 	 	8	 
	SECTION 2.13.
	 	Covenants of the Certificateholders	 	 	11	 
	ARTICLE IIICertificates and Transfer of Interests
	 	 	12	 
	SECTION 3.1.
	 	Initial Ownership	 	 	12	 
	SECTION 3.2.
	 	The Certificates	 	 	12	 
	SECTION 3.3.
	 	Authentication of Certificates	 	 	12	 
	SECTION 3.4.
	 	Registration of Transfer and Exchange of Certificates	 	 	13	 
	SECTION 3.5.
	 	Mutilated, Destroyed, Lost or Stolen Certificates	 	 	14	 
	SECTION 3.6.
	 	Persons Deemed Certificateholders	 	 	14	 
	SECTION 3.7.
	 	Access to List of Certificateholders’ Names and Addresses	 	 	15	 
	SECTION 3.8.
	 	Distributions	 	 	15	 
	SECTION 3.9.
	 	ERISA Restrictions	 	 	15	 
	ARTICLE IVVoting Rights and Other Actions
	 	 	15	 
	SECTION 4.1.
	 	Prior Notice to Holders with Respect to Certain Matters	 	 	15	 
	SECTION 4.2.
	 	Action by Certificateholders with Respect to Certain Matters	 	 	18	 
	SECTION 4.3.
	 	Action by Certificateholders with Respect to Bankruptcy	 	 	18	 
	SECTION 4.4.
	 	Restrictions on Certificateholders’ Power	 	 	19	 
	SECTION 4.5.
	 	Majority Control	 	 	19	 
	SECTION 4.6.
	 	Rights of the Noteholders	 	 	20	 
	ARTICLE VCertain Duties
	 	 	 	 	 	 	20	 
	SECTION 5.1.
	 	Accounting and Records to the Certificateholders, the Internal Revenue Service and Others	 		20	
	SECTION 5.2.
	 	Signature on Returns; Tax Matters Partner	 	 	20	 
	ARTICLE VIAuthority and Duties of Owner Trustee
	 	 	21	 
	SECTION 6.1.
	 	General Authority	 	 	21	 
	SECTION 6.2.
	 	General Duties	 	 	21	 
	SECTION 6.3.
	 	Action upon Instruction	 	 	21	 

	 	 	 	SECTION 6.4. No Duties Except as Specified in this Agreement or in Instructions 22	 

	 	 	 	 	 	 	 	 	 
	SECTION 6.5.
	 	No Action Except under Specified Documents or Instructions	 	 	23	 
	SECTION 6.6.
	 	Restrictions	 	 	23	 
	ARTICLE VIIConcerning the Owner Trustee
	 	 	23	 
	SECTION 7.1.
	 	Acceptance of Trusts and Duties	 	 	23	 
	SECTION 7.2.
	 	Furnishing of Documents	 	 	25	 
	SECTION 7.3.
	 	Representations and Warranties	 	 	25	 
	SECTION 7.4.
	 	Reliance; Advice of Counsel	 	 	26	 
	SECTION 7.5.
	 	Not Acting in Individual Capacity	 	 	26	 
	SECTION 7.6.
	 	Owner Trustee Not Liable for Certificates or Loans	 	 	26	 
	SECTION 7.7.
	 	Owner Trustee May Own Certificates and Notes	 	 	27	 
	SECTION 7.8.
	 	Payments from Trust Property	 	 	27	 
	SECTION 7.9.
	 	Doing Business in Other Jurisdictions	 	 	27	 
	ARTICLE VIIICompensation of Owner Trustee
	 	 	28	 
	SECTION 8.1.
	 	Owner Trustee’s Fees and Expenses	 	 	28	 
	SECTION 8.2.
	 	Indemnification	 	 	28	 
	SECTION 8.3.
	 	Payments to the Owner Trustee	 	 	29	 
	SECTION 8.4.
	 	Non-Recourse Obligations	 	 	29	 
	ARTICLE IXTermination of Trust Agreement
	 	 	29	 
	SECTION 9.1.
	 	Termination of Trust Agreement	 	 	29	 
	ARTICLE XSuccessor Owner Trustees and Additional Owner Trustees
	 	 	30	 
	SECTION 10.1.
	 	Eligibility Requirements for Owner Trustee	 	 	30	 
	SECTION 10.2.
	 	Resignation or Removal of Owner Trustee	 	 	31	 
	SECTION 10.3.
	 	Successor Owner Trustee	 	 	32	 
	SECTION 10.4.
	 	Merger or Consolidation of Owner Trustee	 	 	32	 
	SECTION 10.5.
	 	Appointment of Co-Trustee or Separate Trustee	 	 	32	 
	ARTICLE XIMiscellaneous
	 	 	 	 	 	 	34	 
	SECTION 11.1.
	 	Supplements and Amendments	 	 	34	 
	SECTION 11.2.
	 	Limitations on Rights of Others	 	 	35	 
	SECTION 11.3.
	 	Notices	 	 	35	 
	SECTION 11.4.
	 	Severability	 	 	35	 
	SECTION 11.5.
	 	Separate Counterparts	 	 	35	 
	SECTION 11.6.
	 	Assignments	 	 	36	 
	SECTION 11.7.
	 	No Petition	 	 	36	 
	SECTION 11.8.
	 	No Recourse	 	 	36	 
	SECTION 11.9.
	 	Headings	 	 	36	 
	SECTION 11.10.
	 	GOVERNING LAW	 	 	36	 
	SECTION 11.11.
	 	Servicer	 	 	37	 

This AMENDED AND RESTATED TRUST AGREEMENT dated as of December 3, 2009 between CREDIT
ACCEPTANCE FUNDING LLC 2009-1, a Delaware limited liability company (the “Seller”), and
U.S. BANK TRUST NATIONAL ASSOCIATION, a national banking association, as Owner Trustee (solely in
such capacity and not in its individual capacity, the “Owner Trustee”).

PRELIMINARY STATEMENT

The Owner Trustee has executed and caused to be filed with the Delaware Secretary of State the
Certificate of Trust relating to the Trust, on November 12, 2009. The Owner Trustee and the Seller
heretofore entered into an Interim Trust Agreement dated November 11, 2009 relating to the Trust
and desire to enter into this Amended and Restated Trust Agreement in order to amend and restate
such Interim Trust Agreement.

ARTICLE I

Definitions

	 	 	 	SECTION 1.1. Capitalized Terms.

For all purposes of this Agreement, the following terms shall have the meanings set forth
below:

“Administrator” means the Servicer or Credit Acceptance Corporation, in its capacity
as Administrator pursuant to Section 11.11 of this Agreement or Section 4.01(d) of the Sale and
Servicing Agreement.

“Agreement” shall mean this Amended and Restated Trust Agreement, as the same may be
amended and supplemented from time to time.

“Bankruptcy Action” shall have the meaning assigned to such term in Section
4.1(e).

“Benefit Plan” shall have the meaning assigned to such term in Section 3.9.

“Certificate” means a Trust Certificate.

“Certificate Interest” means the allocable percentage interest of a Certificate held
by a Certificateholder.

“Certificate of Trust” shall mean the certificate of trust for the Trust filed on
November 12, 2009, as amended and /or restated from time to time, a copy of which is attached
hereto as Exhibit B.

“Certificate Register” and “Certificate Registrar” shall mean the register
mentioned and the registrar appointed pursuant to Section 3.4.

“Corporate Trust Office” shall mean, with respect to the Owner Trustee, the principal
corporate trust office of the Owner Trustee located at 300 Delaware Avenue, 9th Floor, Wilmington,
Delaware 19801 or at such other address as the Owner Trustee may designate by notice to the
Certificateholders and the Seller, or the principal corporate trust office of any successor Owner
Trustee (the address of which the successor owner trustee will notify the Certificateholders and
the Seller).

“Expenses” shall have the meaning assigned to such term in Section 8.2.

“Holder” or “Certificateholder” shall mean the Person in whose name a
Certificate is registered on the Certificate Register.

“Indemnified Parties” shall have the meaning assigned to such term in Section
8.2.

“Independent Director” shall have the meaning assigned to such term in Section
2.12(t).

“Instructing Party” shall have the meaning assigned to such term in Section
6.3(a).

“Majority Certificateholders” shall have the meaning assigned to such term in
Section 4.5.

“Owner Trustee” shall mean U.S. Bank Trust National Association, a national banking
association, not in its individual capacity but solely as owner trustee under this Agreement, and
any successor Owner Trustee hereunder.

“Percentage Interest” means, with respect to any Certificates, the undivided
percentage ownership of the Certificates evidenced by such Certificate, as set forth in such
Certificate.

“Private Placement Memorandum” means the Private Placement Memorandum dated November
24, 2009 relating to the private placement of the Notes.

“Record Date” means, with respect to a Distribution Date, the last day of the calendar
month preceding such Distribution Date; provided that the Record Date with respect to the
First Distribution Date shall be the Closing Date.

“Seller” shall mean Credit Acceptance Funding LLC 2009-1 in its capacity as Seller
hereunder.

“Sale and Servicing Agreement” shall mean the Sale and Servicing Agreement among the
Trust, the Seller, the Servicer, the Trust Collateral Agent, the Indenture Trustee and Backup
Servicer, dated as of the Closing Date, as the same may be amended and supplemented from time to
time.

“Secretary of State” shall mean the Secretary of State of the State of Delaware.

“Securityholders” shall mean the Certificateholders and the Noteholders.

“STAMP” shall have the meaning assigned to such term in Section 3.4.

“Statutory Trust Act” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del.
Code Section 3801 et seq. as the same may be amended from time to time.

“Trust” shall mean the trust established by this Agreement.

“Trust Certificate” means a Certificate evidencing the beneficial interest of a
Certificateholder in the Trust, substantially in the form of Exhibit A attached hereto.

	 	 	 	SECTION 1.2. Other Definitional Provisions.

(a) Capitalized terms used herein and not otherwise defined have the meanings assigned to them
in the Sale and Servicing Agreement or, if not defined therein, in the Indenture.

(b) All terms defined in this Agreement shall have the defined meanings when used in any
certificate or other document made or delivered pursuant hereto unless otherwise defined therein.

(c) As used in this Agreement and in any certificate or other document made or delivered
pursuant hereto or thereto, accounting terms not defined in this Agreement or in any such
certificate or other document, and accounting terms partly defined in this Agreement or in any such
certificate or other document to the extent not defined, shall have the respective meanings given
to them under generally accepted accounting principles as in effect on the date of this Agreement
or any such certificate or other document, as applicable. To the extent that the definitions of
accounting terms in this Agreement or in any such certificate or other document are inconsistent
with the meanings of such terms under generally accepted accounting principles, the definitions
contained in this Agreement or in any such certificate or other document shall control.

(d) The words “hereof,” “herein,” “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this
Agreement; Section and Exhibit references contained in this Agreement are references to Sections
and Exhibits in or to this Agreement unless otherwise specified; and the term “including” shall
mean “including without limitation.”

(e) The definitions contained in this Agreement are applicable to the singular as well as the
plural forms of such terms and to the masculine as well as to the feminine and neuter genders of
such terms.

ARTICLE II

Organization

	 	 	 	SECTION 2.1. Declaration of Trust; Name.

There is hereby formed a trust to be known as “Credit Acceptance Auto Loan Trust 2009-1”, in
which name the Owner Trustee may conduct the business of the Trust, make and execute contracts and
other instruments on behalf of the Trust, and sue and be sued.

	 	 	 	SECTION 2.2. Office.

The office of the Trust shall be in care of the Owner Trustee at the Corporate Trust Office or
at such other address as the Owner Trustee may designate by written notice to the
Certificateholders and the Seller.

	 	 	 	SECTION 2.3. Purposes and Powers.

(a) The purpose of the Trust is, and the Trust shall have the power and authority, to engage
in the following activities:

(i) to issue the Notes pursuant to the Indenture and the Certificates pursuant to this
Agreement, and to sell the Notes and the Certificates;

(ii) with the proceeds of the sale of the Notes and the Certificates, to fund the Reserve
Account and to pay the organizational, start-up and transactional expenses of the Trust and to pay
the balance to the Seller pursuant to the Sale and Servicing Agreement;

(iii) to assign, grant, transfer, pledge, mortgage and convey the Trust Property to the Trust
Collateral Agent pursuant to the Indenture for the benefit of the Noteholders and the Seller
pursuant to the terms of the Indenture;

(iv) to enter into, execute and perform its obligations under the Basic Documents to which it
is a party;

(v) to engage in those activities, including entering into agreements, that are necessary,
suitable or convenient to accomplish the foregoing or are incidental thereto or connected
therewith;

(vi) subject to compliance with the Basic Documents, to engage in such other activities as may
be required in connection with conservation of the Trust Property and the making of distributions
to the Certificateholders and the Noteholders; and

(vii) at any time to enter into derivatives transactions.

The Trust is hereby authorized to engage in the foregoing activities. The Trust shall not
engage in any activity other than in connection with the foregoing or other than as required or
authorized by the terms of this Agreement or the Basic Documents.

	 	 	 	SECTION 2.4. Appointment of Owner Trustee.

Pursuant to the Interim Trust Agreement, the Seller appointed the Owner Trustee as trustee of
the Trust effective as of the date of the Interim Trust Agreement, to have all the rights, powers
and duties set forth therein. The Owner Trustee by its execution hereof accepts and confirms such
appointment and shall have all of the rights, powers and duties set forth herein and therein.

	 	 	 	SECTION 2.5. Capital Contribution of Trust Estate.

Pursuant to the Interim Trust Agreement, the Seller sold, assigned, transferred, conveyed and
set over to the Owner Trustee the sum of $1.00. The Owner Trustee hereby acknowledges receipt in
trust from the Seller, as of the date of the Interim Trust Agreement, of the foregoing
contribution, which shall constitute the initial Trust Property and shall be deposited with the
Trust Collateral Agent for deposit in the Certificate Distribution Account.

	 	 	 	SECTION 2.6. Status of Trust Under Statutory Trust Act; Certain Income Tax Matters.

The Owner Trustee hereby declares that it will hold the Trust Property in trust upon and
subject to the conditions set forth herein for the use and benefit of the Securityholders and the
Seller, subject to the obligations of the Trust under Basic Documents. It is the intention of the
parties hereto that the Trust constitute a statutory trust under the Statutory Trust Act and that
this Agreement constitute the governing instrument of such statutory trust. Should the
Certificates be held by more than one Holder, it is the intention of the parties hereto that,
solely for income and franchise tax purposes, the Trust shall be treated as a partnership with the
owners of the Certificates being partners in such partnership for federal income tax purposes.
Effective as of the date hereof, the Owner Trustee shall have all rights, powers and duties set
forth herein and to the extent not inconsistent herewith, in the Statutory Trust Act with respect
to accomplishing the purposes of the Trust. The Owner Trustee has filed the Certificate of Trust
with the Secretary of State.

	 	 	 	SECTION 2.7. Liability of Seller.

The Seller shall pay organizational expenses of the Trust as they may arise or shall, upon the
request of the Owner Trustee and upon receipt of documentation or invoices therefor, promptly
reimburse the Owner Trustee for any such expenses paid by the Owner Trustee.

	 	 	 	SECTION 2.8. Appointment of Trust Collateral Agent; Title to Trust Property.

(a) [Reserved]

(b) The specific rights, duties and obligations of the Trust Collateral Agent shall be as set
forth in the Sale and Servicing Agreement. Upon the issuance of the Notes and the Certificates,
the Seller shall have only such rights with respect to the Trust Collateral Agent as shall be
specified in the Sale and Servicing Agreement.

(c) Subject to the lien of the Indenture, legal title to all the Trust Property shall be
vested at all times in the Trust as a separate legal entity except where applicable law in any
jurisdiction requires title to any part of the Trust Property to be vested in a trustee or
trustees, a co-trustee and/or a separate trustee, in which case title shall be deemed to be vested
in the Owner Trustee or a separate trustee, as the case may be. The Holders shall not have legal
title to any part of the Trust Property. The Holders shall be entitled to receive distributions
with respect to their beneficial ownership interest therein only in accordance with Article V of
the Sale and Servicing Agreement and Article IX hereof. No transfer, by operation of law or
otherwise, of any right, title or interest by any Certificateholder of its ownership interest in
the Trust Property shall operate to terminate this Agreement or the trusts hereunder or entitle any
transferee to an accounting or to the transfer to it of legal title to any part of the Trust
Property.

(d) Pursuant to Section 3803 of the Statutory Trust Act, the Holders shall be entitled to the
same limitation of personal liability extended to stockholders of private corporations organized
under the General Corporation Law of the State of Delaware.

	 	 	 	SECTION 2.9. Situs of Trust.

The Trust will be located and administered in the State of Delaware. The Trust shall not have
any employees; provided, however, that nothing herein shall restrict or prohibit
the Owner Trustee, the Servicer, the Backup Servicer, or any agent of the Trust from having
employees within or without the State of Delaware. The only office of the Trust will be at the
Corporate Trust Office in Delaware.

	 	 	 	SECTION 2.10. Representations and Warranties of the Seller.

The Seller makes the following representations and warranties on which the Owner Trustee
relies in accepting the Trust Property in trust and issuing the Certificates:

(a) Organization and Good Standing. The Seller is duly organized and validly existing
as a Delaware limited liability company with power and authority to own its properties and to
conduct its business as such properties are currently owned and such business is presently
conducted and is proposed to be conducted pursuant to this Agreement and the Basic Documents.

(b) Due Qualification. The Seller is duly qualified to do business as a limited
liability company in good standing, and has obtained all necessary licenses and approvals, in all
jurisdictions in which the ownership or lease of its property, the conduct of its business and the
performance of its obligations under this Agreement and the Basic Documents requires such
qualification.

(c) Power and Authority. The Seller has the power and authority to execute and
deliver this Agreement and the other Basic Documents to which it is a party and to carry out their
respective terms; the Seller has full power and authority to sell and assign the property to be
sold and assigned to and deposited with the Trust and the Seller has duly authorized such sale and
assignment and deposit to the Trust by all necessary action; and the execution, delivery and
performance of this Agreement and the other Basic Documents to which it is a party have been duly
authorized by the Seller by all necessary action.

(d) Enforceability. The Seller has duly executed and delivered this Agreement and the
other Basic Documents to which it is a party and this Agreement and the other Basic Documents to
which it is a party constitute legal, valid and binding obligations of the Seller, enforceable
against Seller in accordance with their terms, and subject to applicable bankruptcy, insolvency,
moratorium, fraudulent conveyance, reorganization and similar laws now or hereafter in effect
relating to creditors’ rights generally or the rights of creditors of banks the deposit accounts of
which are insured by the Federal Deposit Insurance Corporation and subject to general principles of
equity (whether applied in a proceeding at law or in equity).

(e) No Consent Required. No consent, license, approval or authorization or
registration or declaration with, any Person or with any governmental authority, bureau or agency
is required in connection with the execution, delivery or performance of this Agreement and the
Basic Documents, except for such as have been obtained, effected or made.

(f) No Violation. The consummation of the transactions contemplated by this Agreement
and the other Basic Documents to which it is a party and the fulfillment of the terms hereof and
thereof do not conflict with, result in any breach of any of the terms and provisions of, or
constitute (with or without notice or lapse of time) a default under, the certificate of formation
or the limited liability company agreement of the Seller, or any material indenture, agreement or
other instrument to which the Seller is a party or by which it is bound; nor result in the creation
or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture,
agreement or other instrument (other than pursuant to the Basic Documents); nor violate any law or
any order, rule or regulation applicable to the Seller of any court or of any federal or state
regulatory body, administrative agency or other governmental instrumentality having jurisdiction
over the Seller or its properties.

(g) No Proceedings. There are no proceedings or investigations pending or, to the
Seller’s knowledge, threatened against the Seller before any court, regulatory body, administrative
agency or other tribunal or governmental instrumentality having jurisdiction over it or its
properties (A) asserting the invalidity of this Agreement or any of the Basic Documents, (B)
seeking to prevent the issuance of the Certificates or the Notes or the consummation of any of the
transactions contemplated by this Agreement or any of the Basic Documents, (C) seeking any
determination or ruling that might materially and adversely affect its performance of its
obligations under, or the validity or enforceability of, this Agreement or any of the Basic
Documents, or (D) seeking to adversely affect the federal income tax or other federal, state or
local tax attributes of the Certificates or the Notes.

	 	 	 	SECTION 2.11. Federal Income Tax Treatment of the Trust.

(a) For so long as the Trust has a single owner for federal income tax purposes, it will,
pursuant to Treasury Regulations promulgated under Section 7701 of the Code, be disregarded as an
entity distinct from the Certificateholder for all federal income tax purposes. Accordingly, for
federal income tax purposes, the Certificateholder will be treated as (i) owning all assets owned
by the Trust, (ii) having incurred all liabilities incurred by the Trust, and (iii) all
transactions between the Trust and the Certificateholder will be disregarded.

(b) Neither the Owner Trustee nor any Certificateholder will, under any circumstances, and at
any time, make an election on IRS Form 8832 or otherwise, to classify the Trust as an association
taxable as a corporation for federal, state or any other applicable tax purpose.

(c) In the event that the Trust has two or more equity owners for federal income tax purposes,
the Trust will be treated as a partnership. In such event, unless otherwise required by
appropriate tax authorities, the Trust and the owners of the Certificates, will file or cause to be
filed annual or other necessary returns, reports and other forms consistent with the
characterization of the Trust as a partnership. At any such time that the Trust has two or more
equity owners, this Agreement may need to be amended, in accordance with Section 11.1
herein, and appropriate provisions may need to be added so as to provide for treatment of the Trust
as a partnership.

	 	 	 	SECTION 2.12. Covenants of the Seller.

The Seller agrees and covenants for the benefit of each Securityholder and the Owner Trustee,
during the term of this Agreement, and to the fullest extent permitted by applicable law, that:

(a) it shall not create, incur or suffer to exist any indebtedness or engage in any business,
except, in each case, as permitted by its certificate of formation, limited liability company
agreement and the Basic Documents;

(b) it shall not, for any reason, institute proceedings for the Trust to be adjudicated
bankrupt or insolvent, or consent to or join in the institution of bankruptcy or insolvency
proceedings against the Trust, or file a petition seeking or consenting to reorganization or relief
under any applicable federal or state law relating to the bankruptcy of the Trust, or consent to
the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar
official) of the Trust or a substantial part of the property of the Trust or cause or permit the
Trust to make any assignment for the benefit of creditors, or admit in writing the inability of the
Trust to pay its debts generally as they become due, or declare or effect a moratorium on the debt
of the Trust or take any action in furtherance of any such action;

(c) it shall obtain from each counterparty to each Basic Document to which it or the Trust is
a party and each other agreement entered into on or after the date hereof to which it or the Trust
is a party, an agreement by each such counterparty that prior to the occurrence of the event
specified in Section 9.1(e) such counterparty shall not institute against, or join any
other Person in instituting against, it or the Trust, any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings or other similar proceedings under the laws of the United
States or any state of the United States;

(d) it shall not, for any reason, withdraw or attempt to withdraw from this Agreement or any
other Basic Document to which it is a party, dissolve, institute proceedings for it to be
adjudicated a bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency
proceedings against it, or file a petition seeking or consenting to reorganization or relief under
any applicable federal or state law relating to bankruptcy, or consent to the appointment of a
receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of it or a
substantial part of its property, or make any assignment for the benefit of creditors, or admit in
writing its inability to pay its debts generally as they become due, or declare or effect a
moratorium on its debt or take any action in furtherance of any such action;

(e) the Seller is a limited purpose limited liability company whose activities are restricted
in its certificate of formation and limited liability company agreement to activities related to
purchasing or otherwise acquiring Loans and related collateral, and related assets and rights and
conducting any related or incidental business or activities it deems necessary or appropriate to
carry out its primary purpose, including entering into agreements such as the Basic Documents;

(f) the Seller has not engaged, and does not presently engage, in any activity other than
those activities expressly permitted hereunder and under the other Basic Documents, nor has the
Seller entered into any agreement other than this Trust Agreement, the other Basic Documents to
which it is a party, and with the prior written consent of the Noteholders, any other agreement
necessary to carry out more effectively the provisions and purposes hereof or thereof;

(g) (A) the Seller maintains its own deposit account or accounts, separate from those of any
of its Affiliates, with commercial banking institutions, (B) the funds of the Seller are not and
have not been diverted to any other Person or for other than the corporate use of the Seller, and
(C) except as may be expressly permitted by the Basic Documents, the funds of the Seller are not
and have not been commingled with those of any of its Affiliates;

(h) to the extent that the Seller contracts or does business with vendors or service providers
where the goods and services provided are partially for the benefit of any other Person, the costs
incurred in so doing are fairly allocated to or among the Seller and such entities for whose
benefit the goods and services are provided, and each of the Seller and each such entity bears its
fair share of such costs; and, all material transactions between the Seller and any of its
Affiliates shall be only on an arms-length basis;

(i) the Seller maintains a principal executive and administrative office through which its
business is conducted and a telephone number and stationery through which all business
correspondence and communication are conducted, in each case separate from those of the Originator
and its Affiliates, or, if it shares office space with the Originator or any of its Affiliates, it
shall allocate fairly and reasonably any overhead and expense for such shared office space;

(j) the Seller conducts its affairs strictly in accordance with its certificate of formation
and limited liability company agreement and observes all necessary, appropriate and customary
limited liability company formalities, including (A) holding all regular and special meetings
appropriate to authorize all limited liability company action (which, in the case of regular
meetings, are held at least annually), (B) keeping separate and accurate minutes of such meetings,
(C) passing all resolutions or consents necessary to authorize actions taken or to be taken and (D)
maintaining accurate and separate books, records and accounts, including intercompany transaction
accounts;

(k) all decisions with respect to its business and daily operations are independently made by
the Seller (although the officer making any particular decision may also be an employee, officer or
director of an Affiliate of the Seller) and are not dictated by any Affiliate of the Seller (it
being understood that the Servicer, which is an Affiliate of the Seller, will undertake and perform
all of the operations, functions and obligations of it set forth herein and it may appoint
sub-servicers, which may be Affiliates of the Seller, to perform certain of such operations,
functions and obligations);

(l) the Seller acts solely in its own limited liability company name and through its own
authorized officers and agents, which can also be officers and agents of an Affiliate;

(m) no Affiliate of the Seller advances funds to the Seller, other than as is otherwise
provided herein or in the other Basic Documents, and no Affiliate of the Seller otherwise supplies
funds to, or guaranties debts of, the Seller; provided, however, that an Affiliate
of the Seller may provide funds to the Seller in connection with the capitalization of the Seller;

(n) other than organizational expenses and as expressly provided herein or in its certificate
of formation and limited liability company agreement, the Seller pays all expenses, indebtedness
and other obligations incurred by it;

(o) the Seller does not guarantee, and is not otherwise liable, with respect to any obligation
of any of its Affiliates;

(p) any financial reports required of the Seller comply with GAAP and are issued separately
from, but may be consolidated with, any reports prepared for any of its Affiliates;

(q) at all times the Seller is adequately capitalized to engage in the transactions
contemplated in its certificate of formation;

(r) the financial statements and books and records of the Seller reflect the separate
corporate existence of the Seller;

(s) the Seller does not act as agent for any Affiliates of itself, but instead presents itself
to the public as a limited liability company separate from each such entity and independently
engaged in the business of purchasing and financing Contracts;

(t) the Seller shall at all times have at least two independent directors (each an
“Independent Director”), which shall be persons who (1) are not, and will not be, a
director, officer, employee or holder of any equity securities of Credit Acceptance or any of its
Affiliates or Subsidiaries., and (2) have (x) prior experience as an “independent director” for a
corporation or limited liability company whose charter documents required the unanimous consent of
all independent directors thereof before such corporation or limited liability company could
consent to the institution of bankruptcy or insolvency proceedings against it or could file a
petition seeking relief under any applicable federal or state law relating to bankruptcy and (y) at
least three years of employment experience with one or more entities that provide, in the ordinary
course of their respective businesses, advisory, management or placement services to issuers of
securitization or structured finance instruments, agreements or securities;

(u) the certificate of formation or limited liability company agreement of the Seller require
the affirmative vote of the Independent Directors before a voluntary petition under Section 301 of
the Bankruptcy Code may be filed by the Seller, and the Seller to maintain correct and complete
books and records of account and minutes of the meetings and other proceedings of its board of
directors; and

(v) the Seller acknowledges that the parties hereto are entering into this Trust Agreement and
the other Basic Documents in reliance upon the Seller being, on the Closing Date and at all times
during the term of this Trust Agreement, a limited purpose entity.

	 	 	 	SECTION 2.13. Covenants of the Certificateholders.

Each Certificateholder by becoming a beneficial owner of the Certificate agrees:

(a) to be bound by the terms and conditions of the Certificates of which such
Certificateholder is the beneficial owner and of this Agreement, including any supplements or
amendments hereto and to perform the obligations of a Certificateholder as set forth therein or
herein, in all respects as if it were a signatory hereto. This undertaking is made for the benefit
of the Trust, the Owner Trustee and all other Certificateholders present and future;

(b) to the appointment of the Seller as such Certificateholder’s agent and attorney-in-fact to
sign any federal income tax information return filed on behalf of the Trust and, if requested by
the Trust, to sign such federal income tax information return in its capacity as holder of an
interest in the Trust;

(c) that all transactions and agreements between the Trust on the one hand, and any of the
Owner Trustee, the Indenture Trustee, the Trust Collateral Agent, the Seller and any
Certificateholder on the other hand, shall reflect the separate legal existence of each entity and
will be formally documented in writing;

(d) not to take any position in such Certificateholder’s tax returns inconsistent with those
taken in any tax returns filed by the Trust;

(e) if such Certificateholder is other than an individual or other entity holding its
Certificate through a broker who reports securities sales on Form 1099-B, to notify the Owner
Trustee in writing of any transfer by it of a Certificate in a taxable sale or exchange, within 30
days of the date of the transfer; and

(f) until one year and one day after the completion of the events specified in Section
9.1(e), not, for any reason, to institute proceedings for the Trust or the Seller to be
adjudicated a bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency
proceedings against the Trust or the Seller, or file a petition seeking or consenting to
reorganization or relief under any applicable federal or state law relating to bankruptcy, or
consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other
similar official) of the Trust or the Seller or a substantial part of its property, or cause or
permit the Trust or the Seller to make any assignment for the benefit of its creditors or to admit
in writing its inability to pay its debts generally as they become due, or declare or effect a
moratorium on its debt or take any action in furtherance of any such action.

ARTICLE III

Certificates and Transfer of Interests

	 	 	 	SECTION 3.1. Initial Ownership.

Effective upon the formation of the Trust by the contribution by the Seller pursuant to
Section 2.5, the Seller shall be deemed to have acquired and to have become the owner of a
100% interest in the Trust and at all times prior to the issuance of any Certificates pursuant to
Section 3.3 shall be the sole beneficial owner and beneficiary of the Trust.

	 	 	 	SECTION 3.2. The Certificates.

The Certificates and the interests represented by the Certificates are hereby deemed to be
“securities” under Article 8 of the UCC and shall be governed by Article 8 of the UCC. The
Certificates shall be executed on behalf of the Trust by manual or facsimile signature of an
authorized officer of the Owner Trustee. Certificates bearing the manual or facsimile signatures
of individuals who were, at the time when such signatures shall have been affixed, authorized to
sign on behalf of the Trust, shall be validly issued and entitled to the benefit of this Agreement,
notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to
the authentication and delivery of such Certificates or did not hold such offices at the date of
authentication and delivery of such Certificates. A transferee of a Certificate shall become a
Certificateholder, and shall be entitled to the rights and subject to the obligations of a
Certificateholder hereunder, upon due registration of such Certificate in such transferee’s name
pursuant to Section 3.4 hereof provided, that the number of Certificateholders at no time
may exceed 95.

	 	 	 	SECTION 3.3. Authentication of Certificates.

Concurrently with the initial sale of the Loans and other Trust Property to the Trust pursuant
to Section 2.01 of the Sale and Servicing Agreement, the Owner Trustee shall cause one or more
Certificates having the respective Percentage Interests (in the aggregate not to exceed 100%)
specified in writing by the Seller to be authenticated, issued and delivered to or upon the written
order of the Seller, signed by its president or any vice president, any assistant treasurer or any
assistant secretary without further action by the Seller. No Certificate shall entitle its holder
to any benefit under this Agreement, or shall be valid for any purpose, unless there shall appear
on such Certificate a certificate of authentication substantially in the form set forth in
Exhibit A, executed by the Owner Trustee, by manual signature; such authentication shall
constitute conclusive evidence that such Certificate shall have been duly authenticated and
delivered hereunder. All Certificates shall be dated the date of their authentication.

	 	 	 	SECTION 3.4. Registration of Transfer and Exchange of Certificates.

The Certificate Registrar shall keep or cause to be kept, at the Corporate Trust Office, a
Certificate Register in which, subject to such reasonable regulations as it may prescribe, the
Owner Trustee shall provide for the registration of Certificates and of transfers and exchanges of
Certificates as herein provided. U.S. Bank Trust National Association, shall be the initial
Certificate Registrar.

The Certificate Registrar shall provide the Indenture Trustee and the Trust Collateral Agent
with a list of the names and addresses of the Certificateholders on the Closing Date, to the extent
such information has been provided to the Certificate Registrar and in the form provided to the
Certificate Registrar on such date. Upon any transfers of Certificates, the Certificate Registrar
shall notify the Indenture Trustee and the Trust Collateral Agent of the name and address of the
transferee in writing, by facsimile, on the day of such transfer.

Upon surrender for registration of transfer of any Certificate at the Corporate Trust Office,
the Owner Trustee shall execute, authenticate and deliver, in the name of the designated transferee
or transferees, one or more new Certificates in authorized denominations of a like class and
aggregate face amount dated the date of authentication by the Owner Trustee or any authenticating
agent. At the option of a Holder, Certificates may be exchanged for other Certificates of the same
class in authorized denominations of a like aggregate amount upon surrender of the Certificates to
be exchanged at the Corporate Trust Office.

Every Certificate presented or surrendered for registration of transfer or exchange shall be
accompanied by: (i) a written instrument of transfer in form satisfactory to the Owner Trustee and
the Certificate Registrar duly executed by the Certificateholder or his attorney duly authorized in
writing, with such signature guaranteed by an “eligible guarantor institution” meeting the
requirements of the Certificate Registrar, which requirements include membership or participation
in the Securities Transfer Agent’s Medallion Program (“STAMP”) or such other “signature guarantee
program” as may be determined by the Certificate Registrar in addition to, or in substitution for,
STAMP; and (ii) an Opinion of Counsel that the transfer or exchange of such Certificate would not
cause the Trust to be treated as a publicly traded partnership or otherwise be taxable as a
corporation. Each Certificate surrendered for registration of transfer or exchange shall be
canceled and subsequently disposed of by the Owner Trustee in accordance with its customary
practice.

No service charge shall be made for any registration of transfer or exchange of Certificates,
but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover
any tax or governmental charge that may be imposed in connection with any transfer or exchange of
Certificates.

The Certificates have not been registered under the Securities Act or any state securities
law. Subject to the provisions of Section 3.1 hereof, the Certificate Registrar shall not
register the transfer of any Certificate or unless such resale or transfer is: (i) pursuant to an
effective registration statement under the Securities Act; (ii) to the Seller; or (iii) unless it
shall have received a representation letter or such other representations and an Opinion of Counsel
satisfactory to the Seller or the Owner Trustee to the effect that such resale or transfer is made
(A) in a transaction exempt from the registration requirements of the Securities Act and applicable
state securities laws, or (B) to a person who the transferor of the Certificate reasonably believes
is a “qualified institutional buyer” (within the meaning of Rule 144A under the Securities Act)
that is aware that such resale or other transfer is being made in reliance upon Rule 144A. Until
the earlier of (i) such time as the Certificates shall be registered pursuant to a registration
statement filed under the Securities Act and (ii) the date three years from the later of the date
of the original authentication and delivery of the Certificates and the date any Certificate was
acquired from the Seller or any affiliate of the Seller, the Certificates shall bear a legend
substantially to the effect set forth in the preceding two sentences. Neither the Seller, the
Servicer, the Trust nor the Owner Trustee is obligated to register the Certificates under the
Securities Act or to take any other action not otherwise required under this Agreement to permit
the transfer of Certificates without registration.

	 	 	 	SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates.

If (a) any mutilated Certificate shall be surrendered to the Certificate Registrar, or if the
Certificate Registrar shall receive evidence to its satisfaction of the destruction, loss or theft
of any Certificate, and (b) there shall be delivered to the Certificate Registrar and the Owner
Trustee, such security or indemnity as may be required by them to save each of them harmless, then
in the absence of notice that such Certificate shall have been acquired by a bona fide purchaser,
the Owner Trustee on behalf of the Trust shall execute and the Owner Trustee, in exchange for or in
lieu of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate of like class,
tenor and denomination. In connection with the issuance of any new Certificate under this Section,
the Owner Trustee or the Certificate Registrar may require the payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in connection therewith. Any duplicate
Certificate issued pursuant to this Section shall constitute conclusive evidence of an ownership
interest in the Trust, as if originally issued, whether or not the lost, stolen or destroyed
Certificate shall be found at any time.

	 	 	 	SECTION 3.6. Persons Deemed Certificateholders.

Every Person by virtue of becoming a Certificateholder in accordance with this Agreement shall
be deemed to be bound by the terms of this Agreement. Prior to due presentation of a Certificate
for registration of transfer, the Owner Trustee, the Certificate Registrar, the Trust Collateral
Agent and any agent of the Owner Trustee, the Trust Collateral Agent and the Certificate Registrar,
may treat the Person in whose name any Certificate shall be registered in the Certificate Register
as the owner of such Certificate for the purpose of receiving distributions pursuant to the Sale
and Servicing Agreement and for all other purposes whatsoever, and none of the Owner Trustee, the
Trust Collateral Agent nor the Certificate Registrar nor any agent of the Owner Trustee, the Trust
Collateral Agent nor the Certificate Registrar shall be bound by any notice to the contrary.

	 	 	 	SECTION 3.7. Access to List of Certificateholders’ Names and Addresses.

The Owner Trustee shall cause to be furnished to the Trust Collateral Agent, the Servicer or
the Seller, within 15 days after receipt by the Owner Trustee of a request therefor from such
Person in writing, a list, of the names and addresses of the Certificateholders as of the most
recent Record Date. If three or more Holders of Certificates or one or more Holders of
Certificates evidencing not less than 25% of the Certificate Interest apply in writing to the Owner
Trustee, and such application states that the applicants desire to communicate with other
Certificateholders with respect to their rights under this Agreement or under the Certificates and
such application is accompanied by a copy of the communication that such applicants propose to
transmit, then the Owner Trustee shall, within five Business Days after the receipt of such
application, afford such applicants access during normal business hours to the current list of
Certificateholders. Each Holder, by receiving and holding a Certificate, shall be deemed to have
agreed not to hold any of the Seller, the Servicer, the Trust Collateral Agent or the Owner Trustee
or any agent thereof accountable by reason of the disclosure of its name and address, regardless of
the source from which such information was derived.

	 	 	 	SECTION 3.8. Distributions.

Distributions on the Certificates shall be made in accordance with Section 5.08(a) and Section
5.10 of the Sale and Servicing Agreement.

	 	 	 	SECTION 3.9. ERISA Restrictions.

The Certificates may not be acquired by or transferred to (i) an employee benefit plan (as
defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA, (ii) a
plan to which Section 4975 of the Code applies, or (iii) any entity whose underlying assets include
plan assets by reason of a plan’s investment in the entity (each, a “Benefit Plan”). In
connection with any acquisition or transfer of a Certificate, the Holder thereof shall be required
to represent and warrant that it is not a Benefit Plan.

ARTICLE IV

Voting Rights and Other Actions

	 	 	 	SECTION 4.1. Prior Notice to Holders with Respect to Certain Matters.

(a) The Owner Trustee shall not take any of the actions set forth below unless (i) the Owner
Trustee shall have notified the Certificateholders in writing of the proposed action at least 30
days before the taking of such action, and (ii) the Majority Certificateholders have approved such
action in writing, which approval has been received by the Owner Trustee by the 30th day
after such notice has been given:

(i) the election by the Trust to file an amendment to the Certificate of Trust (unless such
amendment is required to be filed under the Statutory Trust Act);

(ii) the amendment of the Indenture by a supplemental indenture in circumstances where the
consent of any Noteholder is required;

(iii) the amendment of the Indenture by a supplemental indenture in circumstances where the
consent of any Noteholder is not required and such amendment materially adversely affects the
interest of the Certificateholders;

(iv) except pursuant to Section 11.01 of the Sale and Servicing Agreement, the amendment,
change or modification of the Sale and Servicing Agreement.

(v) except as provided in Article IX hereof, dissolve, terminate or liquidate the Trust in
whole or in part;

(vi) do any act which would make it impossible to carry on the ordinary business of the Trust;

(vii) confess a judgment against the Trust;

(viii) possess Trust assets, or assign the Trust’s right to property, for other than a Trust
purpose;

(ix) cause the Trust to lend any funds to any entity;

(x) change the Trust’s purpose and powers from those set forth in this Agreement;

(xi) cause the Trust to incur, assume or guaranty any indebtedness except as set forth in this
Agreement;

(xii) the initiation of any material claim or litigation by the Trust (except for claims or
lawsuits brought in connection with the collection of Contracts or Loans;) or

(xiii) the appointment, pursuant to the Indenture of a successor Indenture Trustee or the
consent to the assignment by the Indenture Trustee, Certificate Registrar or Owner Trustee of any
of its obligations under the Indenture or any other Basic Document.

(b) In addition, the Trust shall not commingle its assets with those of any other entity
(except for as permitted by the Transaction Documents). The Trust shall maintain its financial and
accounting books and records separate from those of any other entity. Except as expressly set
forth herein or in any other Basic Document, the Trust shall pay its indebtedness and expenses from
its own funds and shall not pay the indebtedness or operating expenses of any other entity. The
Trust shall maintain appropriate minutes or other records of all appropriate actions and shall
maintain its office separate from the offices of the Seller and its affiliates

(c) The Trust and each Certificateholder shall comply with the following covenants:

(i) Neither the Owner Trustee nor any Certificateholder shall cause the funds and other assets
of the Trust to be commingled with those of any other individual, corporation, estate partnership,
joint venture, association, joint stock company, trust, unincorporated organization, government or
agency or political subdivision thereof or any other entity (except for as permitted by the
Transaction Documents).

(ii) Neither the Owner Trustee nor any Certificateholder shall cause the Trust to be, become
or hold itself out as being liable for the debts of any other party, and neither the Trust nor any
Certificateholder shall act as agents for each other. The Trust shall not guarantee the
indebtedness of or make loans to any other party or any Certificateholder. No Certificateholder
may guarantee the indebtedness of or make loans to the Trust or hold itself out as being liable for
the debts of the Trust.

(iii) Neither the Owner Trustee nor any Certificateholder shall cause the Trust (A) to act
other than solely in its Trust name and through its duly authorized officers or agents in the
conduct of its business, (B) to prepare all Trust correspondence otherwise than in the Trust name,
(C) to conduct its business other than so as not to mislead others as to the identity of the entity
with which they are conducting business; and no Certificateholder will be involved in the
day-to-day management of the Trust.

(iv) The Owner Trustee shall maintain on behalf of the Trust all statutory trust records
required by the Statutory Trust Act and neither the Owner Trustee nor any Certificateholder shall
cause the Trust to commingle its statutory trust records and books of account with the corporate
records and books of account maintained by any Certificateholder or the Owner Trustee on behalf of
the Trust shall reflect the separate existence of the Trust. The books of the Trust may be kept
(subject to any provision contained in any applicable statutes) inside or outside the State of
Delaware at such place or places as may be designated from time to time by the Owner Trustee. The
Trust’s books and records relating to the Trust Property shall be maintained by the Servicer or
Credit Acceptance, if it is no longer the Servicer, pursuant to Section 4.06 of the Sale and
Servicing Agreement.

(v) The Trust shall take such formalities as may be necessary to authorize all of its actions
as may be required by law.

(vi) The Owner Trustee shall cause the Trust to (1) conduct its business in an office separate
from that of each Certificateholder, (2) maintain stationery, if any, separate from that of each
Certificateholder, (3) except as expressly set forth herein, to pay its indebtedness, operating
expenses, and liabilities from its own funds, and not to pay the indebtedness, operating expenses
and liabilities of any other entity, (4) observe all statutory formalities under the Statutory
Trust Act, and (5) keep in full effect its existence, rights and franchises as a statutory trust
under the laws of the State of Delaware until dissolved in accordance with the Basic Documents.

(d) For accounting purposes, the Trust shall be treated as an entity separate and distinct
from any Certificateholder. The pricing and other material terms of all transactions and
agreements to which the Trust is a party shall be intrinsically fair to all parties thereto. This
Agreement is and shall be the only agreement among the parties thereto with respect to the
creation, operation and termination of the Trust.

(e) The Owner Trustee shall not have the power, except upon the direction of the
Certificateholders, and to the extent otherwise consistent with the Basic Documents, to (i) remove
or replace the Servicer, the Backup Servicer or the Indenture Trustee, (ii) institute proceedings
to have the Trust declared or adjudicated a bankruptcy or insolvent, (iii) consent to the
institution of bankruptcy or insolvency proceedings against the Trust, (iv) file a petition or
consent to a petition seeking reorganization or relief on behalf of the Trust under any applicable
federal or state law relating to bankruptcy, (v) consent to the appointment of a receiver,
liquidator, assignee, trustee, sequestrator (or any similar official) of the Trust or a substantial
portion of the property of the Trust, (vi) make any assignment for the benefit of the Trust’s
creditors, (vii) cause the Trust to admit in writing its inability to pay its debts generally as
they become due, (viii) take any action, or cause the Trust to take any action, in furtherance of
any of the foregoing (any of the above, a “Bankruptcy Action”). So long as the Indenture
and Sale and Servicing Agreement remain in effect, no Certificateholder shall have the power to
take, and shall not take, any Bankruptcy Action with respect to the Trust or direct the Owner
Trustee to take any Bankruptcy Action with respect to the Trust.

(f) The Owner Trustee shall notify the Seller, the Servicer and the Certificateholders in
writing of any appointment of a successor Note Registrar, Trust Collateral Agent or Certificate
Registrar within five Business Days of its receipt thereof.

	 	 	 	SECTION 4.2. Action by Certificateholders with Respect to Certain Matters.

The Owner Trustee shall not have the power, except upon the written direction of the
Certificateholders in accordance with the Basic Documents, to (a) remove the Servicer under the
Sale and Servicing Agreement or (b) except as expressly provided in the Basic Documents, sell the
Loans after the termination of the Indenture. The Owner Trustee shall take the actions referred to
in the preceding sentence only upon written instructions signed by the Certificateholders and the
furnishing of indemnification satisfactory to the Owner Trustee by the Certificateholders.

	 	 	 	SECTION 4.3. Action by Certificateholders with Respect to Bankruptcy.

The Owner Trustee shall not have the power to, and shall not, commence or join in any
proceeding or other actions contemplated by Section 2.12(c) relating to the Trust without
the unanimous prior approval of all Certificateholders and, prior to the Note Termination Date, the
Indenture Trustee, at the direction of the Majority Noteholders, and the delivery to the Owner
Trustee by each such Certificateholder of a certificate certifying that such person reasonably
believes that the Trust is insolvent and, prior to the Note Termination Date, written consent of
the Indenture Trustee, at the direction of the Majority Noteholders.

	 	 	 	SECTION 4.4. Restrictions on Certificateholders’ Power.

(a) The Certificateholders shall not direct the Owner Trustee to take or refrain from taking
any action if such action or inaction would be contrary to any obligation of the Trust or the Owner
Trustee under this Agreement or any of the Basic Documents or would be contrary to Section
2.3 nor shall the Owner Trustee follow any such direction, if given.

(b) No Certificateholder shall have any right by virtue or by availing itself of any
provisions of this Agreement to institute any suit, action, or proceeding in equity or at law upon
or under or with respect to this Agreement or any Basic Document, unless the Certificateholders are
the Instructing Party pursuant to Section 6.3 and unless a Certificateholder previously
shall have given to the Owner Trustee a written notice of default and of the continuance thereof,
as provided in this Agreement, and also unless Certificateholders evidencing not less than 25% of
the Certificate Interest shall have made written request upon the Owner Trustee to institute such
action, suit or proceeding on behalf of the Trust under this Agreement and shall have offered to
the Owner Trustee such reasonable indemnity as it may require against the costs, expenses and
liabilities to be incurred therein or thereby, and the Owner Trustee, for 30 days after its receipt
of such notice, request, and offer of indemnity, shall have neglected or refused to institute any
such action, suit, or proceeding, and during such 30-day period no request or waiver inconsistent
with such written request has been given to the Owner Trustee pursuant to and in compliance with
this Section or Section 6.3; it being understood and intended, and being expressly
covenanted by each Certificateholder with every other Certificateholder and the Owner Trustee, that
no one or more Holders of Certificates shall have any right in any manner whatever by virtue or by
availing itself or themselves of any provisions of this Agreement to affect, disturb, or prejudice
the rights of the Holders of any other of the Certificates, or to obtain or seek to obtain priority
over or preference to any other such Holder, or to enforce any right under this Agreement, except
in the manner provided in this Agreement and for the equal, ratable, and common benefit of all
Certificateholders. For the protection and enforcement of the provisions of this Section, each and
every Certificateholder and the Owner Trustee shall be entitled to such relief as can be given
either at law or in equity.

	 	 	 	SECTION 4.5. Majority Control.

No Certificateholder shall have any right to vote or in any manner otherwise control the
operation and management of the Trust except as expressly provided in this Agreement. Except as
expressly provided herein, any action that may be taken by the Certificateholders under this
Agreement shall be taken by the Holders of Certificates evidencing not less than a majority of the
Certificate Interest (the “Majority Certificateholders”). Except as expressly provided
herein, any written notice of the Certificateholders delivered pursuant to this Agreement shall be
effective if signed by the Majority Certificateholders at the time of the delivery of such notice.

	 	 	 	SECTION 4.6. Rights of the Noteholders.

Notwithstanding anything to the contrary in the Basic Documents without the prior written
consent of the Indenture Trustee at the direction of the Majority Noteholders, neither the Owner
Trustee nor any Certificateholder shall (i) remove the Servicer, (ii) initiate any claim, suit or
proceeding by the Trust or compromise any claim, suit or proceeding brought by or against the
Trust, other than with respect to the enforcement of any Loan or Contract or any rights of the
Trust thereunder, (iii) authorize the merger or consolidation of the Trust with or into any other
statutory trust or other entity or convey or transfer all or substantially all of the Trust
Property to any other entity, (iv) amend the Certificate of Trust or (v) amend this Agreement.

ARTICLE V

Certain Duties

	 	 	 	SECTION 5.1. Accounting and Records to the Certificateholders, the Internal Revenue
Service and Others.

Subject to the Code and Section 4.01 of the Sale and Servicing Agreement, the Owner Trustee
shall (a) maintain (or cause to be maintained) the books of the Trust on a calendar year basis on
the accrual method of accounting, (b) deliver (or cause to be delivered) to each Certificateholder,
as may be required by the Code and applicable Treasury Regulations, such information as may be
required (including Schedule K-1, if applicable) to enable each Certificateholder to prepare its
federal and state income tax returns, and (c) file or cause to be filed such tax returns relating
to the Trust, and make such elections as may from time to time be required or appropriate under any
applicable state or federal statute or rule or regulation thereunder. The Owner Trustee shall make
elections pursuant to this Section only as directed in writing by the Seller. The Owner Trustee or
the Administrator shall sign all tax information returns filed pursuant to this Section and any
other returns as may be required by law, and in doing so shall rely entirely upon, and shall have
no liability for information provided by, or calculations provided by, the Seller. The Owner
Trustee shall elect under Section 1278 of the Code to include in income currently any market
discount that accrues with respect to the Loans. The Owner Trustee shall not make the election
provided under Section 754 of the Code.

	 	 	 	SECTION 5.2. Signature on Returns; Tax Matters Partner.

(a) Notwithstanding the provisions of Section 5.1, the Owner Trustee shall sign on
behalf of the Trust the separate tax returns of the Trust, if any, unless applicable law requires a
Certificateholder to sign such documents, in which case such documents shall be signed by the
Seller as “tax matters partner”.

(b) The Certificateholders hereby elect the Seller as the “tax matters partner” of the Trust
pursuant to Section 6231 of the Code and the Treasury Regulations promulgated thereunder.

ARTICLE VI

Authority and Duties of Owner Trustee

	 	 	 	SECTION 6.1. General Authority.

The Owner Trustee is authorized and directed to execute and deliver on behalf of the Trust the
Basic Documents to which the Trust is named as a party and each certificate or other document
attached as an exhibit to or contemplated by the Basic Documents to which the Trust is named as a
party and any amendment thereto, in each case, in such form as the Seller shall approve as
evidenced conclusively by the Owner Trustee’s execution thereof, and on behalf of the Trust, to
direct the Indenture Trustee to authenticate and deliver the Class A Notes in the aggregate
principal amount of $82,500,000, the Class B Notes in the aggregate principal amount of $28,000,000
and the Class C Notes in the aggregate principal amount of $3,300,000, and to authorize the filing
of a financing statement in favor of the Indenture Trustee describing the Collateral as “all assets
of the Debtor” or words of similar import. In addition to the foregoing, the Owner Trustee is
authorized, but shall not be obligated, to take all actions required of the Trust pursuant to the
Basic Documents. The Owner Trustee is further authorized from time to time to take such action as
the Instructing Party (as defined below) shall direct in writing with respect to the Basic
Documents so long as such activities are consistent with the terms of the Basic Documents. The
Instructing Party hereby agrees not to instruct the Owner Trustee to take any action which is
inconsistent with or in violation of the terms of the Basic Documents.

	 	 	 	SECTION 6.2. General Duties.

It shall be the duty of the Owner Trustee to: (a) discharge (or cause to be discharged) all of
its responsibilities pursuant to the terms of this Agreement and to administer the Trust in the
interest of the Holders, subject to the Basic Documents and in accordance with the provisions of
this Agreement; and (b) to obtain and preserve the Trust’s qualification to do business in each
jurisdiction in which, based upon the advice of the Seller or the Servicer, such qualification is
or shall be necessary to protect the validity and enforceability of the Basic Documents and related
instruments and agreements, the Notes and the Trust Property. Notwithstanding the foregoing, the
Owner Trustee shall be deemed to have discharged its duties and responsibilities hereunder and
under the Basic Documents: (i) to the extent the Servicer, or Credit Acceptance if Credit
Acceptance is no longer the Servicer, has agreed in the Sale and Servicing Agreement, hereunder or
otherwise to perform any act or to discharge any duty of the Owner Trustee or the Trust hereunder
or under any Basic Document, and the Owner Trustee shall not be liable for the default or failure
of the Servicer or Credit Acceptance to carry out its obligations under the Sale and Servicing
Agreement or such other document; or (ii) to the extent that Owner Trustee has contracted with a
third party to discharge such duties and responsibilities.

	 	 	 	SECTION 6.3. Action upon Instruction.

(a) Subject to Article IV, the Majority Certificateholders (the “Instructing Party”)
shall have the exclusive right to direct the actions of the Owner Trustee in the management of the
Trust, so long as such instructions are not inconsistent with the express terms set forth herein or
in any Basic Document. The Instructing Party shall not instruct the Owner Trustee in a manner
inconsistent with this Agreement or the Basic Documents.

(b) The Owner Trustee shall not be required to take any action hereunder or under any Basic
Document if the Owner Trustee shall have reasonably determined, or shall have been advised by
counsel, that such action is likely to result in liability on the part of the Owner Trustee or is
contrary to the terms hereof or of any Basic Document or is otherwise contrary to law.

(c) Whenever the Owner Trustee is unable to decide between alternative courses of action
permitted or required by the terms of this Agreement or any Basic Document, the Owner Trustee shall
promptly give notice (in such form as shall be appropriate under the circumstances) to the
Instructing Party requesting instruction as to the course of action to be adopted, and to the
extent the Owner Trustee acts in good faith in accordance with any written instruction of the
Instructing Party received, the Owner Trustee shall not be liable on account of such action to any
Person. If the Owner Trustee shall not have received appropriate instruction within ten (10) days
of such notice (or within such shorter period of time as reasonably may be specified in such notice
or may be necessary under the circumstances) it may, but shall be under no duty to, take or refrain
from taking such action, not inconsistent with this Agreement or the Basic Documents, as it shall
deem to be in the best interests of the Certificateholders, and shall have no liability to any
Person for such action or inaction absent gross negligence or willful misconduct.

(d) In the event that the Owner Trustee is unsure as to the application of any provision of
this Agreement or any Basic Document or any such provision is ambiguous as to its application, or
is, or appears to be, in conflict with any other applicable provision, or in the event that this
Agreement permits any determination by the Owner Trustee or is silent or is incomplete as to the
course of action that the Owner Trustee is required to take with respect to a particular set of
facts, the Owner Trustee may give notice (in such form as shall be appropriate under the
circumstances) to the Instructing Party and, to the extent that the Owner Trustee acts or refrains
from acting in good faith in accordance with any such instruction received, the Owner Trustee shall
not be liable, on account of such action or inaction, to any Person. If the Owner Trustee shall
not have received appropriate instruction within ten (10) days of such notice (or within such
shorter period of time as reasonably may be specified in such notice or may be necessary under the
circumstances) it may, but shall be under no duty to, take or refrain from taking such action, not
inconsistent with this Agreement or the Basic Documents, as it shall deem to be in the best
interests of the Certificateholders, and shall have no liability to any Person for such action or
inaction, absent gross negligence or willful misconduct.

	 	 	 	SECTION 6.4. No Duties Except as Specified in this Agreement or in Instructions.

The Owner Trustee shall not have any duty or obligation to manage, make any payment with
respect to, register, record, sell, dispose of, or otherwise deal with the Trust Property, or to
otherwise take or refrain from taking any action under, or in connection with, any document
contemplated hereby to which the Owner Trustee is a party, except as expressly provided by the
terms of this Agreement or in any document or written instruction received by the Owner Trustee
pursuant to Section 6.3; and no implied duties or obligations shall be read into this
Agreement or any Basic Document against the Owner Trustee. The Owner Trustee shall have no
responsibility for filing any financing or continuation statement in any public office at any time
or to otherwise perfect or maintain the perfection of any security interest or lien granted to it
hereunder or to prepare or file any filing for the Trust with the Securities and Exchange
Commission or to record this Agreement or any Basic Document. The Owner Trustee nevertheless
agrees that it will, at its own cost and expense, promptly take all action as may be necessary to
discharge any Liens on any part of the Trust Property that result from actions by, or claims
against, the Owner Trustee (solely in its individual capacity) and that are not related to the
ownership or the administration of the Trust Property.

	 	 	 	SECTION 6.5. No Action Except under Specified Documents or Instructions.

The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise deal with any
part of the Trust Property except (i) in accordance with the powers granted to and the authority
conferred upon the Owner Trustee pursuant to this Agreement, (ii) in accordance with the Basic
Documents and (iii) in accordance with any document or instruction delivered to the Owner Trustee
pursuant to Section 6.3.

	 	 	 	SECTION 6.6. Restrictions.

The Owner Trustee shall not take any action (a) that is inconsistent with the purposes of the
Trust set forth in Section 2.3 or (b) that, to the actual knowledge of the Owner Trustee,
would result in the Trust’s becoming taxable as a corporation for federal income tax purposes. The
Certificateholders shall not direct the Owner Trustee to take action that would violate the
provisions of this Section.

ARTICLE VII

Concerning the Owner Trustee

	 	 	 	SECTION 7.1. Acceptance of Trusts and Duties.

The Owner Trustee accepts the trusts hereby created and agrees to perform its duties hereunder
with respect to such trusts but only upon the terms of this Agreement and the Basic Documents. The
Owner Trustee also agrees to disburse all moneys actually received by it constituting part of the
Trust Property upon the terms of the Basic Documents and this Agreement. The Owner Trustee shall
not be answerable or accountable in its individual capacity hereunder or under any Basic Document
under any circumstances, except (i) for its own willful misconduct, bad faith or gross negligence,
(ii) in the case of the inaccuracy of any representation or warranty contained in Section
7.3 expressly made by the Owner Trustee, (iii) for liabilities arising from the failure of the
Owner Trustee to perform obligations expressly undertaken by it in the last sentence of Section
6.4 hereof, (iv) for any investments issued by the Owner Trustee or any branch or affiliate
thereof in its commercial capacity or (v) for taxes, fees or other charges on, based on or measured
by, any fees, commissions or compensation received by the Owner Trustee, and every provision of
this Trust Agreement relating to the conduct or affecting the liability of or affording protection
to the Owner Trustee shall be subject to this Section. In particular, but not by way of limitation
(and subject to the exceptions set forth in the preceding sentence):

(a) the Owner Trustee shall not be liable for any error of judgment made by a Responsible
Officer of the Owner Trustee or for any information contained in the Private Placement Memorandum,
except for the information provided by the Owner Trustee and contained in the section entitled “The
Owner Trustee”

(b) the Owner Trustee shall not be liable with respect to any action taken or omitted to be
taken by it in good faith in accordance with the instructions of the Instructing Party, the
Servicer, the Backup Servicer or any Certificateholder in accordance with the terms of this
Agreement and the Basic Documents;

(c) no provision of this Agreement or any Basic Document shall require the Owner Trustee to
expend or risk funds or otherwise incur any liability (financial or otherwise) in the performance
of any of its rights or powers hereunder or under any Basic Document if the Owner Trustee shall
have reasonable grounds for believing that repayment of such funds or adequate indemnity against
such risk or liability is not reasonably assured or provided to it;

(d) under no circumstances shall the Owner Trustee be liable for indebtedness of the Trust
evidenced by or arising under any of the Basic Documents, including the principal of and interest
on the Notes;

(e) the Owner Trustee shall not be responsible for or in respect of the validity or
sufficiency of this Agreement or for the due execution hereof by the Seller or for the form,
character, genuineness, sufficiency, value or validity of any of the Trust Property or for or in
respect of the validity or sufficiency of the Basic Documents, other than the certificate of
authentication on the Certificates, and the Owner Trustee shall in no event assume or incur any
liability, duty or obligation to the Indenture Trustee, the Trust Collateral Agent, any Noteholder
or to any Certificateholder, other than as expressly provided for herein and in the Basic
Documents;

(f) the Owner Trustee shall not be liable for the default or misconduct of the Seller, the
Indenture Trustee, the Trust Collateral Agent, the Servicer or the Backup Servicer under any of the
Basic Documents or otherwise and the Owner Trustee shall have no obligation or liability to perform
the obligations under this Agreement or the Basic Documents that are required to be performed by
the Seller under this Agreement, by the Indenture Trustee under the Indenture or the Trust
Collateral Agent or the Servicer or the Backup Servicer under the Sale and Servicing Agreement; and

(g) the Owner Trustee shall be under no obligation to exercise any of the rights or powers
vested in it by this Agreement, or to institute, conduct or defend any litigation under this
Agreement or otherwise or in relation to this Agreement or any Basic Document, at the request,
order or direction of the Instructing Party or any of the Certificateholders, unless such
Instructing Party or Certificateholders have offered to the Owner Trustee security or indemnity
reasonably satisfactory to it against the costs, expenses and liabilities that may be incurred by
the Owner Trustee therein or thereby. The right of the Owner Trustee to perform any discretionary
act enumerated in this Agreement or in any Basic Document shall not be construed as a duty, and the
Owner Trustee shall not be answerable for other than its gross negligence, bad faith or willful
misconduct in the performance of any such act.

	 	 	 	SECTION 7.2. Furnishing of Documents.

The Owner Trustee shall furnish to the Certificateholders and the Rating Agencies promptly
upon receipt of a written request therefor, duplicates or copies of all reports, notices, requests,
demands, certificates, financial statements and any other instruments furnished to the Owner
Trustee under the Basic Documents.

	 	 	 	SECTION 7.3. Representations and Warranties.

The Owner Trustee hereby represents and warrants to the Seller and the Securityholders, that:

(a) It is a national banking association, duly organized and validly existing in good standing
under the laws of the United States of America. It has all requisite corporate power and authority
to execute, deliver and perform its obligations under this Agreement.

(b) It has taken all corporate action necessary to authorize the execution and delivery by it
of this Agreement, and this Agreement will be executed and delivered by one of its officers who is
duly authorized to execute and deliver this Agreement on its behalf.

(c) Neither the execution nor the delivery by it of this Agreement, nor the consummation by it
of the transactions contemplated hereby nor compliance by it with any of the terms or provisions
hereof will contravene any federal or Delaware state law, governmental rule or regulation governing
the banking or trust powers of the Owner Trustee or any judgment or order binding on it, or
constitute any default under its charter documents or by-laws or any indenture, mortgage, contract,
agreement or instrument to which it is a party or by which any of its properties may be bound.

	 	 	 	SECTION 7.4. Reliance; Advice of Counsel.

(a) In the absence of bad faith, willful misconduct or gross negligence, the Owner Trustee
shall incur no liability to anyone in acting upon any signature, instrument, notice, resolution,
request, consent, order, certificate, report, opinion, bond or other document or paper reasonably
believed by it to be genuine and to be signed by the proper party or parties; however, the Owner
Trustee shall examine the same to determine whether or not they conform on their face to the Trust
Agreement. The Owner Trustee may accept a certified copy of a resolution of the board of directors
of the Seller or other governing body of any corporate party or other entity as conclusive evidence
that such resolution has been duly adopted by such body and that the same is in full force and
effect. As to any fact or matter the method of the determination of which is not specifically
prescribed herein, the Owner Trustee may for all purposes hereof rely on a certificate, signed by
the president or any vice president or by the treasurer, secretary or other authorized officers of
the relevant party, as to such fact or matter, and such certificate shall constitute full
protection to the Owner Trustee for any action taken or omitted to be taken by it in good faith in
reliance thereon.

(b) In the exercise or administration of the trusts hereunder and in the performance of its
duties and obligations under this Agreement or the Basic Documents, the Owner Trustee (i) may act
directly or through its agents or attorneys pursuant to agreements entered into with any of them,
and the Owner Trustee shall not be liable for the conduct or misconduct of such agents or attorneys
if such agents or attorneys shall have been selected by the Owner Trustee with reasonable care, and
(ii) may consult with counsel, accountants and other skilled persons that are selected with
reasonable care and employed by it. The Owner Trustee shall not be liable for anything done,
suffered or omitted in good faith by it in accordance with the opinion or advice of any such
counsel, accountants or other such persons and according to such opinion not contrary to this
Agreement or any Basic Document.

	 	 	 	SECTION 7.5. Not Acting in Individual Capacity.

Except as provided in this Article VII, in accepting the trusts hereby created, U.S. Bank
Trust National Association acts solely as Owner Trustee hereunder and not in its individual
capacity and all Persons having any claim against the Owner Trustee by reason of the transactions
contemplated by this Agreement or any Basic Document shall look only to the Trust Property for
payment or satisfaction thereof.

	 	 	 	SECTION 7.6. Owner Trustee Not Liable for Certificates or Loans.

The recitals contained herein and in the Certificates (other than the signature and
countersignature of the Owner Trustee on the Certificates) shall be taken as the statements of the
Seller and the Owner Trustee assumes no responsibility for the correctness thereof. The Owner
Trustee makes no representations as to the validity or sufficiency of this Agreement, of any Basic
Document or of the Certificates (other than the signature and countersignature of the Owner Trustee
on the Certificates) or the Notes, or of any Loan, Contract or related documents. The Owner
Trustee shall at no time have any responsibility or liability for or with respect to the legality,
validity and enforceability of any Loan or Contract, or the perfection and priority of any security
interest created by any Loan or Contract in any Financed Vehicle or the maintenance of any such
perfection and priority, or for or with respect to the sufficiency of the Trust Property or its
ability to generate the payments to be distributed to Certificateholders under this Agreement or
the Noteholders under the Indenture, including, without limitation: the existence, condition and
ownership of any Financed Vehicle; the existence and enforceability of any insurance thereon; the
existence and contents of any Loan or Contract on any computer or other record thereof; the
validity of the assignment of any Loan or Contract to the Trust or of any intervening assignment;
the completeness of any Loan or Contract; the performance or enforcement of any Loan or Contract;
the compliance by the Seller, the Servicer or any other Person with any warranty or representation
made under any Basic Document or in any related document or the accuracy of any such warranty or
representation or any action of the Trust Collateral Agent or the Servicer, the Backup Servicer or
any sub-servicer taken in the name of the Owner Trustee.

	 	 	 	SECTION 7.7. Owner Trustee May Own Certificates and Notes.

The Owner Trustee in its individual or any other capacity may become the owner or pledgee of
Certificates or Notes and may deal with the Seller, the Trust Collateral Agent and the Servicer in
banking transactions with the same rights as it would have if it were not Owner Trustee.

	 	 	 	SECTION 7.8. Payments from Trust Property.

All payments to be made by the Owner Trustee on behalf of the Trust under this Agreement or
any of the Basic Documents to which the Trust or the Owner Trustee is a party shall be made only
from the corpus, income and proceeds of the Trust Property and only to the extent that the Owner
Trustee shall have received corpus, income or proceeds from the Trust Property to make such
payments in accordance with the terms hereof. U.S. Bank Trust National Association, or any
successor thereto, in its individual capacity, shall not be liable for any amounts payable under
this Agreement or any of the Basic Documents to which the Trust or the Owner Trustee is a party.

	 	 	 	SECTION 7.9. Doing Business in Other Jurisdictions.

Notwithstanding anything contained herein to the contrary, neither U.S. Bank Trust National
Association nor any successor thereto, nor the Owner Trustee shall be required to take any action
in any jurisdiction other than in the State of Delaware if the taking of such action will, even
after the appointment of a co-trustee or separate trustee in accordance with Section 10.5
hereof, (i) require the consent or approval or authorization or order of or the giving of notice
to, or the registration with or the taking of any other action in respect of, any state or other
governmental authority or agency of any jurisdiction other than the State of Delaware; (ii) result
in any fee, tax or other governmental charge under the laws of the State of Delaware becoming
payable by U.S. Bank Trust National Association (or any successor thereto); or (iii) subject U.S.
Bank Trust National Association (or any successor thereto) to personal jurisdiction in any
jurisdiction other than the State of Delaware for causes of action arising from acts unrelated to
the consummation of the transactions by U.S. Bank Trust National Association (or any successor
thereto) or the Owner Trustee, as the case may be, contemplated hereby.

ARTICLE VIII

Compensation of Owner Trustee

	 	 	 	SECTION 8.1. Owner Trustee’s Fees and Expenses.

The Owner Trustee shall receive as compensation for its services hereunder such fees as have
been separately agreed upon before the date hereof between Credit Acceptance and the Owner Trustee,
and the Owner Trustee shall be entitled to be reimbursed therefor by the Issuer as set forth in
Section 5.08(a) of the Sale and Servicing Agreement. Such negotiated fees are based upon the
presumption that the duties of the Trust under the Basic Documents are to be performed by Credit
Acceptance pursuant to Section 11.11 hereof and Section 4.01(d) of the Sale and Servicing
Agreement. In the event that the Servicer fails to perform such duties and the Owner Trustee
undertakes to do so, the Owner Trustee shall be entitled to additional reasonable compensation with
respect thereto, which shall be consented to by the Majority Noteholders. In the absence of such
consent, the Owner Trustee shall not be obligated to undertake such duties.

	 	 	 	SECTION 8.2. Indemnification.

Credit Acceptance shall be liable as primary obligor for, and shall indemnify U.S. Bank Trust
National Association, individually and as Owner Trustee and its officers, directors, successors,
assigns, agents and servants (collectively, the “Indemnified Parties”) from and against, any and
all liabilities, obligations, losses, damages, taxes, claims, actions and suits, and any and all
reasonable costs, expenses and disbursements (including reasonable legal fees and expenses) of any
kind and nature whatsoever (collectively, “Expenses”) which may at any time be imposed on, incurred
by, or asserted against any Indemnified Party in any way relating to or arising out of this
Agreement, the Basic Documents, the Trust Property, the administration of the Trust Property or the
action or inaction of the Owner Trustee hereunder, within thirty (30) days of a demand by the Owner
Trustee, upon receipt by the Owner Trustee of an invoice or other demand for payment, except only
that Credit Acceptance shall not be liable for or required to indemnify the Owner Trustee from and
against: (i) Expenses arising or resulting from the gross negligence, willful misconduct or bad
faith of the Owner Trustee or (ii) any Expenses which would constitute recourse for uncollectible
Loans. Credit Acceptance shall advance to each Indemnified Party expenses incurred in defending
any claim, demand, action, suit or proceeding, provided that such Indemnified Party shall be
obligated to repay such amount if a court of competent jurisdiction determines that such
Indemnified Party was not entitled to indemnification hereunder. The indemnities contained in this
Section and the rights of the Owner Trustee under Section 8.1 shall be joint and several
with the indemnification obligations of the Trust pursuant to Section 6.05 of the Sale and
Servicing Agreement and shall survive the resignation or termination of the Owner Trustee or the
termination of this Agreement In any event of any claim, action or proceeding for which indemnity
will be sought pursuant to this Section, the Owner Trustee’s choice of legal counsel shall be
subject to the approval of Credit Acceptance which approval shall not be unreasonably withheld.

	 	 	 	SECTION 8.3. Payments to the Owner Trustee.

Any amounts paid to the Owner Trustee pursuant to this Article VIII shall be deemed not to be
a part of the Trust Property immediately after such payment.

	 	 	 	SECTION 8.4. Non-Recourse Obligations.

Notwithstanding anything in this Agreement or any Basic Document, the Owner Trustee agrees
that all obligations of the Trust or the Owner Trustee on behalf of the Trust shall be recourse to
the Trust Property only, shall be paid in accordance with the priorities set forth in Section 5.08
of the Sale and Servicing Agreement and specifically shall not be recourse to the assets of any
Holder. U.S. Bank Trust National Association agrees not to seek recourse against any Holder with
respect to any obligations of the Trust owed to it.

ARTICLE IX

Termination of Trust Agreement

	 	 	 	SECTION 9.1. Termination of Trust Agreement.

(a) This Agreement shall terminate and the Trust shall dissolve upon the payment in full or
other liquidation or final settlement of the last outstanding Loan (including the purchase by the
Servicer at its option of the corpus of the Trust as described in Section 10.01 of the Sale and
Servicing Agreement) and the subsequent distribution of all amounts in respect of such Loans as
provided in the Basic Documents and the satisfaction and discharge of the Indenture;
provided, however, that the rights to indemnification under Section 8.2 and
the rights of the Owner Trustee under Section 8.1, and the terms of Section 11.7
hereof shall survive the termination of the Trust and that the winding up of the Trust shall be
conducted in accordance with Section 3808(e) of the Statutory Trust Act, and the Owner Trustee
shall be entitled to rely without investigation upon the certificates of: (i) the Indenture Trustee
pursuant to Section 4.1 of the Indenture; and (ii) the Servicer pursuant to Section 7.06 of the
Sale and Servicing Agreement as to the absence of liabilities. The Seller shall promptly notify
the Owner Trustee in writing of any prospective termination pursuant to this Section 9.1.
The bankruptcy, liquidation, dissolution, death or incapacity of any Certificateholder shall not
(x) operate to terminate this Agreement or the Trust, nor (y) entitle such Certificateholder’s
legal representatives or heirs to claim an accounting or to take any action or proceeding in any
court for a partition or winding up of all or any part of the Trust or Trust Property nor (z)
otherwise affect the rights, obligations and liabilities of the parties hereto.

(b) Except as provided in clause (a), neither the Seller nor any Certificateholder shall be
entitled to revoke or terminate the Trust.

(c) Notice of any termination of the Trust, specifying the Distribution Date upon which the
Certificateholders shall surrender their Certificates to the Trust Collateral Agent, as paying
agent who shall then surrender such Certificates to the Owner Trustee for cancellation, shall be
given by the Owner Trustee by letter to Certificateholders mailed within five Business Days of
receipt of notice of such termination from the Seller or Servicer, as the case may be, given
pursuant to Section 10.01(b) of the Sale and Servicing Agreement, stating (i) the Distribution Date
upon or with respect to which final distributions on the Certificates shall be made upon
presentation and surrender of the Certificates at the office of the Trust Collateral Agent therein
designated, (ii) the amount of any such final distribution, and (iii) that the Record Date
otherwise applicable to such Distribution Date is not applicable, payments being made only upon
presentation and surrender of the Certificates at the office of the Owner Trustee therein
specified. The Owner Trustee shall give such notice to the Certificate Registrar (if other than
the Owner Trustee) and the Trust Collateral Agent at the time such notice is given to
Certificateholders. Upon presentation and surrender of the Certificates to the Owner Trustee, the
Trust Collateral Agent shall cause to be distributed to Certificateholders amounts distributable on
such Distribution Date pursuant to Section 5.08 of the Sale and Servicing Agreement.

In the event that all of the Certificateholders shall not surrender their Certificates for
cancellation within six months after the date specified in the above-mentioned written notice, the
Owner Trustee shall give a second written notice to the remaining Certificateholders to surrender
their Certificates for cancellation and receive the final distribution with respect thereto. If
within one year after the second notice all the Certificates shall not have been surrendered for
cancellation, the Owner Trustee may take appropriate steps, or may appoint an agent to take
appropriate steps, to contact the remaining Certificateholders concerning surrender of their
Certificates, and the cost thereof shall be paid out of the funds and other assets that shall
remain subject to this Agreement. Any funds remaining in the Trust after two years shall be
distributed, subject to applicable escheat laws, by the Owner Trustee or the Trust Collateral Agent
upon the written direction of the Seller to the Seller and Holders shall look solely to the Seller
for payment.

(d) Any funds remaining in the Trust after funds for final distribution have been distributed
or set aside for distribution and reasonable provision has been made for known claims and
obligations of the Trust shall be distributed by the Owner Trustee to the Certificateholders.

(e) Upon dissolution and the winding up of the Trust pursuant to Section 9.1(a), the
Owner Trustee shall cause the Certificate of Trust to be canceled by filing a certificate of
cancellation with the Secretary of State in accordance with the provisions of Section 3810 of the
Statutory Trust Act.

ARTICLE X

Successor Owner Trustees and Additional Owner Trustees

	 	 	 	SECTION 10.1. Eligibility Requirements for Owner Trustee.

The Owner Trustee shall at all times be a corporation or other institution: (i) satisfying the
provisions of Section 3807(a) of the Statutory Trust Act; (ii) authorized to exercise corporate
trust powers; and (iii) having a combined capital and surplus of at least $50,000,000 and subject
to supervision or examination by federal or state authorities; provided however,
the net worth of the parent organization of such corporation shall be included in the determination
of the combined capital and surplus of such corporation. If such corporation or other institution
shall publish reports of condition at least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purpose of this Section, the combined
capital and surplus of such corporation or other institution shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so published. In case at
any time the Owner Trustee shall cease to be eligible in accordance with the provisions of this
Section, the Owner Trustee shall resign immediately in the manner and with the effect specified in
Section 10.2.

	 	 	 	SECTION 10.2. Resignation or Removal of Owner Trustee.

The Owner Trustee may at any time resign and be discharged from the trusts hereby created by
giving written notice thereof to the Seller and the Servicer. Upon receiving such notice of
resignation, the Seller shall promptly appoint a successor Owner Trustee satisfying the
qualifications of Section 10.1 hereof by written instrument, in duplicate, one copy of
which instrument shall be delivered to the resigning Owner Trustee and one copy to the successor
Owner Trustee. If no successor Owner Trustee shall have been so appointed and have accepted
appointment within 30 days after the giving of such notice of resignation, the resigning Owner
Trustee or the Majority Certificateholders may petition any court of competent jurisdiction for the
appointment of a successor Owner Trustee satisfying the qualifications of Section 10.1
hereof.

If at any time, the Owner Trustee shall cease to be eligible in accordance with the provisions
of Section 10.1 and shall fail to resign after written request therefor by the Seller, or
if at any time the Owner Trustee shall be legally unable to act, or shall be adjudged bankrupt or
insolvent, or a receiver of the Owner Trustee or of its property shall be appointed, or any public
officer shall take charge or control of the Owner Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation, then the Seller may remove the Owner
Trustee. If the Seller shall remove the Owner Trustee under the authority of the immediately
preceding sentence, the Seller shall promptly appoint a successor Owner Trustee satisfying the
qualifications set forth in Section 10.1 hereto by written instrument, in duplicate, one
copy of which instrument shall be delivered to the outgoing Owner Trustee so removed and one copy
to the successor Owner Trustee and payment of all fees owed to the outgoing Owner Trustee.

Any resignation or removal of the Owner Trustee and appointment of a successor Owner Trustee
pursuant to any of the provisions of this Section shall not become effective until acceptance of
appointment by the successor Owner Trustee pursuant to Section 10.3 and payment of all fees
and expenses owed to the outgoing Owner Trustee. The Seller shall provide notice of such
resignation or removal of the Owner Trustee to the Rating Agencies and the Trust Collateral Agent.

	 	 	 	SECTION 10.3. Successor Owner Trustee.

Any successor Owner Trustee appointed pursuant to Section 10.2 shall execute,
acknowledge and deliver to the Seller, the Servicer and to its predecessor Owner Trustee an
instrument accepting such appointment under this Agreement, and thereupon the resignation or
removal of the predecessor Owner Trustee shall become effective and such successor Owner Trustee,
without any further act, deed or conveyance, shall become fully vested with all the rights, powers,
duties and obligations of its predecessor under this Agreement, with like effect as if originally
named as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees and expenses
deliver to the successor Owner Trustee all documents and statements and monies held by it under
this Agreement; and the Seller and the predecessor Owner Trustee shall execute and deliver such
instruments and do such other things as may reasonably be required for fully and certainly vesting
and confirming in the successor Owner Trustee all such rights, powers, duties and obligations.

No successor Owner Trustee shall accept appointment as provided in this Section unless at the
time of such acceptance such successor Owner Trustee shall be eligible pursuant to Section
10.1.

Upon acceptance of appointment by a successor Owner Trustee pursuant to this Section, the
Servicer shall mail notice of the successor of such Owner Trustee to all Certificateholders, the
Indenture Trustee, the Noteholders and the Rating Agencies. If the Servicer shall fail to mail
such notice within 10 days after acceptance of appointment by the successor Owner Trustee, the
successor Owner Trustee shall cause such notice to be mailed at the expense of the Servicer.

Any successor Owner Trustee appointed pursuant to this Section 10.3 shall promptly
file an amendment to the Certificate of Trust with the Secretary of State of Delaware, identifying
the name and address of such successor Owner Trustee in the State of Delaware.

	 	 	 	SECTION 10.4. Merger or Consolidation of Owner Trustee.

Any corporation into which the Owner Trustee may be merged or converted or with which it may
be consolidated, or any corporation resulting from any merger, conversion or consolidation to which
the Owner Trustee shall be a party, or any corporation succeeding to all or substantially all of
the corporate trust business of the Owner Trustee, shall be the successor of the Owner Trustee
hereunder, provided, however, such corporation shall be eligible pursuant to
Section 10.1, without the execution or filing of any instrument or any further act on the
part of any of the parties hereto, anything herein to the contrary notwithstanding;
provided further that the Owner Trustee shall mail notice of such merger or
consolidation to the Rating Agencies.

	 	 	 	SECTION 10.5. Appointment of Co-Trustee or Separate Trustee.

Notwithstanding any other provisions of this Agreement, at any time, for the purpose of
meeting any legal requirements of any jurisdiction in which any part of the Trust Property or any
Financed Vehicle may at the time be located, the Servicer and the Owner Trustee acting jointly
shall have the power and shall execute and deliver all instruments to appoint one or more Persons
approved by the Owner Trustee to act as co-trustee, jointly with the Owner Trustee, or separate
trustee or separate trustees, of all or any part of the Trust Property, and to vest in such Person,
in such capacity, such title to the Trust, or any part thereof, and, subject to the other
provisions of this Section, such powers, duties, obligations, rights and trusts as the Servicer and
the Owner Trustee may consider necessary or desirable. If the Servicer shall not have joined in
such appointment within 15 days after the receipt by it of a request so to do, the Owner Trustee
shall, with the consent of the Majority Noteholders, have the power to make such appointment. No
co-trustee or separate trustee under this Agreement shall be required to meet the terms of
eligibility as a successor trustee pursuant to Section 10.1 and no notice of the
appointment of any co-trustee or separate trustee shall be required pursuant to Section
10.3.

Each separate trustee and co-trustee shall, to the extent permitted by law, be appointed and
act subject to the following provisions and conditions:

(i) all rights, powers, duties and obligations conferred or imposed upon the Owner Trustee
shall be conferred upon and exercised or performed by the Owner Trustee and such separate trustee
or co-trustee jointly (it being understood that such separate trustee or co-trustee is not
authorized to act separately without the Owner Trustee joining in such act), except to the extent
that under any law of any jurisdiction in which any particular act or acts are to be performed, the
Owner Trustee shall be incompetent or unqualified to perform such act or acts, in which event such
rights, powers, duties and obligations (including the holding of title to the Trust or any portion
thereof in any such jurisdiction) shall be exercised and performed singly by such separate trustee
or co-trustee, but solely at the direction of the Owner Trustee;

(ii) no trustee under this Agreement shall be personally liable by reason of any act or
omission of any other trustee under this Agreement; and

(iii) the Seller and the Owner Trustee acting jointly may at any time accept the resignation
of or remove any separate trustee or co-trustee.

Any notice, request or other writing given to the Owner Trustee shall be deemed to have been
given to each of the then separate trustees and co-trustees, as effectively as if given to each of
them. Every instrument appointing any separate trustee or co-trustee shall refer to this Agreement
and the conditions of this Article. Each separate trustee and co-trustee, upon its acceptance of
the trusts conferred, shall be vested with the estates or property specified in its instrument of
appointment, either jointly with the Owner Trustee or separately, as may be provided therein,
subject to all the provisions of this Agreement, specifically including every provision of this
Agreement relating to the conduct of, affecting the liability of, or affording protection to, the
Owner Trustee. Each such instrument shall be filed with the Owner Trustee and a copy thereof given
to the Servicer.

Any separate trustee or co-trustee may at any time appoint the Owner Trustee, its agent or
attorney-in-fact with full power and authority, to the extent not prohibited by law, to do any
lawful act under or in respect of this Agreement on its behalf and in its name. If any separate
trustee or co-trustee shall die, become incapable of acting, resign or be removed, all of its
estates, properties, rights, remedies and trusts shall vest in and be exercised by the Owner
Trustee, to the extent permitted by law, without the appointment of a new or successor trustee.

ARTICLE XI

Miscellaneous

	 	 	 	SECTION 11.1. Supplements and Amendments.

(a) This Agreement may be amended by the Seller and the Owner Trustee, with prior written
notice to the Rating Agencies, without the consent of the Noteholders or the Certificateholders:
(i) to cure any ambiguity or defect; (ii) to correct, supplement or modify any provisions in this
Agreement; or (iii) to add any other provisions with respect to matters or questions arising under
this Agreement that shall not be inconsistent with the provisions of this Agreement;
provided, however, that such action shall not, as evidenced by an Opinion of
Counsel which may be based upon a certificate of the Seller, adversely affect in any material
respect the interests of any Noteholder.

(b) This Agreement may also be amended from time to time by the Seller and the Owner Trustee,
with (x) prior written notice to the Rating Agencies and (y) prior to the Note Termination Date,
the written consent of the Majority Noteholders and thereafter, the consent of the Majority
Certificateholders, for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of this Agreement other than under (a) above; provided,
however, that, subject to the express rights of the Noteholders under the Basic Documents
no such amendment shall: (a) increase or reduce in any manner the amount of, or accelerate or delay
the timing of, collections of payments on Loans or distributions that shall be required to be made
for the benefit of the Noteholders; or (b) reduce the percentage of the Outstanding Amount of the
Notes required to consent to any such amendment, without the consent of the Holders of all the
outstanding Notes.

Promptly after the execution of any such amendment or consent, the Owner Trustee shall furnish
written notification of the substance of such amendment or consent to each Certificateholders, the
Indenture Trustee and the Rating Agencies.

It shall not be necessary for the consent of the Majority Noteholders or Majority
Certificateholders, as applicable, pursuant to this Section to approve the particular form of any
proposed amendment or consent, but it shall be sufficient if such consent shall approve the
substance thereof. The manner of obtaining such consents shall be subject to such reasonable
requirements as the Owner Trustee may prescribe. Promptly after the execution of any amendment to
the Certificate of Trust, the Owner Trustee shall cause the filing of such amendment with the
Secretary of State.

Prior to the execution of any amendment to this Agreement or the Certificate of Trust, the
Owner Trustee shall be entitled to receive and rely upon an Opinion of Counsel stating that the
execution of such amendment is authorized or permitted by this Agreement, that all conditions
precedent to the execution and delivery of such amendment have been satisfied and that any such
amendment would not result in the Trust becoming taxable as a corporation for federal income tax
purposes. The Owner Trustee may, but shall not be obligated to, enter into any such amendment
which affects the Owner Trustee’s own rights, duties or immunities under this Agreement or
otherwise.

	 	 	 	SECTION 11.2. Limitations on Rights of Others.

Except for Section 2.7, the provisions of this Agreement are solely for the benefit of
the Owner Trustee, the Seller, the Certificateholders, the Servicer, the Backup Servicer and, to
the extent expressly provided herein, the Indenture Trustee, the Trust Collateral Agent and the
Noteholders, and nothing in this Agreement, whether express or implied, shall be construed to give
to any other Person any legal or equitable right, remedy or claim in the Trust Property or under or
in respect of this Agreement or any covenants, conditions or provisions contained herein.

	 	 	 	SECTION 11.3. Notices.

(a) Unless otherwise expressly specified or permitted by the terms hereof, all notices shall
be in writing and shall be deemed given upon receipt personally delivered, delivered by overnight
courier or mailed first class mail or certified mail, in each case return receipt requested, and
shall be deemed to have been duly given upon receipt, if to the Owner Trustee, addressed to the
Corporate Trust Office; if to the Seller, addressed to Credit Acceptance Funding LLC 2009-1, Silver
Triangle Building, 25505 West Twelve Mile Road, Southfield, Michigan, 48034-8339, Attention: Doug
Busk; phone number: (248) 353-2700 (ext. 4432); fax number: (866) 249-3138; if to the Indenture
Trustee, the Trust Collateral Agent, the Servicer, the Backup Servicer or the Rating Agencies,
addressed to each respective entity as set forth in the notice provisions of the Basic Documents
or, as to each party, at such other address as shall be designated by such party in a written
notice to each other party.

(b) Any notice required or permitted to be given to a Certificateholder shall be given by
first-class mail, postage prepaid, at the address of such Holder as shown in the Certificate
Register. Any notice so mailed within the time prescribed in this Agreement shall be conclusively
presumed to have been duly given, whether or not the Certificateholder receives such notice.

	 	 	 	SECTION 11.4. Severability.

Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction.

	 	 	 	SECTION 11.5. Separate Counterparts.

This Agreement may be executed by the parties hereto in separate counterparts, each of which
when so executed and delivered shall be an original, but all such counterparts shall together
constitute but one and the same instrument.

	 	 	 	SECTION 11.6. Assignments.

This Agreement shall inure to the benefit of and be binding upon the parties hereto, and their
respective successors and permitted assigns.

	 	 	 	SECTION 11.7. No Petition.

The Owner Trustee (in its individual capacity and as Owner Trustee), by entering into this
Agreement, each Certificateholder, by accepting a Certificate, and the Indenture Trustee and each
Noteholder by accepting the benefits of this Agreement, each hereby covenants and agrees that it
will not at any time institute against the Seller or the Trust, or join in any institution against
the Seller or the Trust of, any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings, or other proceedings under any federal or state bankruptcy or similar law in
connection with any obligations relating to the Certificates, the Notes, this Agreement or any of
the Basic Documents.

	 	 	 	SECTION 11.8. No Recourse.

Each Certificateholder, by accepting a Certificate acknowledges that such Certificateholder’s
Certificates represent beneficial interests in the Trust only and do not represent interests in or
obligations of the Seller, the Servicer, the Backup Servicer, the Owner Trustee, the Indenture
Trustee or the Trust Collateral Agent or any Affiliate thereof and no recourse may be had against
such parties or their assets, except as may be expressly set forth or contemplated in this
Agreement, the Certificates or the Basic Documents.

	 	 	 	SECTION 11.9. Headings.

The headings of the various Articles and Sections herein are for convenience of reference only
and shall not define or limit any of the terms or provisions hereof.

	 	 	 	SECTION 11.10. GOVERNING LAW.

THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE,
WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF
THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

	 	 	 	SECTION 11.11. Servicer as Administrator.

The Servicer or, to the extent that Credit Acceptance Corporation no longer serves as
Servicer, Credit Acceptance Corporation, as Administrator, is authorized to prepare, or cause to be
prepared, execute and deliver on behalf of the Trust all such documents, reports, filings,
instruments, certificates and opinions as it shall be the duty of the Trust or Owner Trustee to
prepare, file or deliver pursuant to the Basic Documents. Upon written request, the Owner Trustee
shall execute and deliver to the Servicer a limited power of attorney appointing the Servicer the
Trust’s agent and attorney-in-fact to prepare, or cause to be prepared, execute and deliver all
such documents, reports, filings, instruments, certificates and opinions.

IN WITNESS WHEREOF, the parties hereto have caused this Trust Agreement to be duly executed by
their respective officers hereunto duly authorized as of the day and year first above written.

U.S. BANK TRUST NATIONAL ASSOCIATION,

not in its individual capacity but solely as Owner Trustee

By: /s/ Annette Morgan

Name: Annette E. Morgan

Title: Assistant Vice President

CREDIT ACCEPTANCE FUNDING LLC 2009-1, as Seller

By: /s/ Douglas Busk

Name: Douglas W. Busk

Title: Senior Vice President and Treasurer

[Trust Agreement Signature Page]

EXHIBIT A

FORM OF CERTIFICATE

SEE ATTACHED PAGES FOR CERTAIN DEFINITIONS

THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENTS TO THE NOTES AS DESCRIBED IN THE
AGREEMENT REFERRED TO HEREIN.

THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY STATE SECURITIES OR “BLUE SKY” LAWS. THE HOLDER HEREOF, BY PURCHASING
THIS CERTIFICATE, AGREES THAT THIS CERTIFICATE MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY
(1) SO LONG AS THIS NOTE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT
(“RULE 144A”), TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER
WITHIN THE MEANING OF RULE 144A, PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (2) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT
OR (3) IN RELIANCE ON ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
AND SUBJECT TO THE RECEIPT BY THE OWNER TRUSTEE OF A CERTIFICATION OF THE TRANSFEREE AND AN OPINION
OF COUNSEL (SATISFACTORY TO THE ISSUER OR THE OWNER TRUSTEE) TO THE EFFECT THAT SUCH TRANSFER IS IN
COMPLIANCE WITH THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS
OF ANY STATE OF THE UNITED STATES.

NO RESALE OR OTHER TRANSFER OF THIS CERTIFICATE MAY BE MADE UNLESS THE CERTIFICATE REGISTRAR
SHALL HAVE RECEIVED A REPRESENTATION LETTER IN SUBSTANTIALLY THE FORM REQUIRED BY THE AGREEMENT
REFERRED TO BELOW FROM THE TRANSFEREE OF THIS CERTIFICATE OR SUCH OTHER REPRESENTATIONS (OR AN
OPINION OF COUNSEL) AS MAY BE APPROVED BY THE SELLER, TO THE EFFECT THAT SUCH A TRANSFER MAY BE
MADE PURSUANT TO AN EXEMPTION FROM THE SECURITIES ACT, INCLUDING RULE 144A THEREUNDER, AND
APPLICABLE STATE SECURITIES LAWS AND SUCH TRANSFEREE WILL NOT ACQUIRE THIS CERTIFICATE WITH THE
ASSETS OF ANY “EMPLOYEE BENEFIT PLAN” (AS DEFINED IN SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED (“ERISA”)) THAT IS SUBJECT TO TITLE I OF ERISA OR ANY “PLAN” TO
WHICH SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) APPLIES.

1

NUMBER Percentage Interest 100%

R-1

SEE REVERSE FOR CERTAIN DEFINITIONS

AMOUNTS IN RESPECT OF THIS CERTIFICATE ARE DISTRIBUTABLE AS SET FORTH IN THE TRUST AGREEMENT.

ASSET BACKED CERTIFICATE

evidencing a beneficial ownership interest in the property of the Trust, as defined below, the
property of which includes a pool of (i) dealer loans secured by retail installment sales contracts
and (ii) purchased loans evidenced by retail installment loans, in each case secured by used
automobiles, light duty trucks, minivans or sport utility vehicles and sold to the Trust by Credit
Acceptance Funding LLC 2009-1.

(This Certificate does not represent an interest in or obligation of Credit Acceptance Funding LLC
2009-1 or any of its Affiliates, except to the extent described below.)

THIS CERTIFIES THAT Credit Acceptance Funding LLC 2009-1 is the registered owner of the
Percentage Interest set forth above of the beneficial ownership interest in certain distributions
of Credit Acceptance Auto Loan Trust 2009-1 (the “Trust”) formed by Credit Acceptance Funding LLC
2009-1, a Delaware special purpose limited liability company (the “Seller”). The Certificates do
not accrue interest.

OWNER TRUSTEE’S CERTIFICATE OF AUTHENTICATION

2

This is one of the Certificates referred to in the within-mentioned Trust Agreement.

	 
	U.S. BANK TRUST NATIONAL ASSOCIATION,

	not in its individual capacity but solely as Owner Trustee

	by:

	Authenticating Agent

3

The Trust was created pursuant to a Certificate of Trust and an Interim Trust Agreement dated
November 11, 2009 and amended and restated as of December 3, 2009 (as so amended and restated, the
“Trust Agreement”), between the Seller and U.S. Bank Trust National Association, as owner trustee,
in its capacity as trustee, and not in its individual capacity (the “Owner Trustee”), a summary of
certain of the pertinent provisions of which is set forth below. To the extent not otherwise
defined herein, the capitalized terms used herein have the meanings assigned to them in the Trust
Agreement.

This Certificate is one of the duly authorized Certificates designated as “Asset Backed
Certificates” (herein called the “Certificates”). In addition to the Certificates, there were also
issued, under the Indenture dated as of the Closing Date, between the Trust and Wells Fargo Bank,
National Association, as Indenture Trustee, three classes of Notes designated as “3.96% Class A
Asset Backed Notes,” “5.68% Class B Asset Backed Notes,” and “Class C Asset Backed Notes (the
“Notes”). This Certificate is issued under and is subject to the terms, provisions and conditions
of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the
acceptance hereof assents and by which such holder is bound. The property of the Trust includes a
pool of dealer loans secured by retail installment sale contracts (which are secured by used
automobiles, light duty trucks, minivans or sport utility vehicles) (the “Dealer Loans”), a pool of
purchased loans evidenced by retail installment loans (which are secured by used automobiles, light
duty trucks, minivans or sport utility vehicles) (the “Purchased Loans”, and together with the
Dealer Loans, the “Loans”) all monies due thereunder after the applicable Cut-off Date, security
interests in the vehicles financed thereby, certain bank accounts and the proceeds thereof,
proceeds from claims on certain insurance policies and certain other rights under the Trust
Agreement and the Sale and Servicing Agreement, all right, title and interest of the Seller in and
to the Contribution Agreement dated as of the Closing Date between the Originator and the Seller
and all proceeds of the foregoing.

Under the Sale and Servicing Agreement, there will be distributed on the 15th day
of each month or, if such 15th day is not a Business Day, the next Business Day (the
“Distribution Date”), commencing on December 15, 2009, to the Person in whose name this Certificate
is registered at the close of business on the last day of the month preceding such Distribution
Date (the “Record Date”) such Certificateholder’s fractional undivided interest in the amount to be
distributed, if any, to Certificateholders on such Distribution Date.

The holder of this Certificate acknowledges and agrees that its rights to receive
distributions in respect of this Certificate are subordinated to the rights of the Noteholders as
described in the Sale and Servicing Agreement, the Indenture and the Trust Agreement, as
applicable.

It is the intent of the Seller, the Servicer, and the Certificateholders that, for purposes of
federal income taxes, the Trust will be treated as a partnership and the Certificateholders will be
treated as partners in that partnership. The Seller and the other Certificateholders by acceptance
of a Certificate, agree to treat, and to take no action inconsistent with the treatment of, the
Certificates for such tax purposes as partnership interests in the Trust. Each Certificateholder,
by its acceptance of a Certificate, covenants and agrees that such Certificateholder will not at
any time institute against the Trust or the Seller, or join in any institution against the Trust or
the Seller of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings,
or other proceedings under any United States federal or state bankruptcy or similar law in
connection with any obligations relating to the Certificates, the Notes, the Trust Agreement or any
of the Basic Documents.

Distributions on this Certificate will be made as provided in the Sale and Servicing Agreement
by the Trust Collateral Agent by wire transfer or check mailed to the Certificateholder of record
in the Certificate Register without the presentation or surrender of this Certificate or the making
of any notation hereon. Except as otherwise provided in the Trust Agreement and the Sale and
Servicing Agreement and, notwithstanding the above, the final distribution on this Certificate will
be made after due notice by the Owner Trustee of the pendency of such distribution and only upon
presentation and surrender of this Certificate at the Corporate Trust Office.

Reference is hereby made to the further provisions of this Certificate set forth on the
reverse hereof, which further provisions shall for all purposes have the same effect as if set
forth at this place.

Unless the certificate of authentication hereon shall have been executed by an authorized
officer of the Owner Trustee, by manual signature, this Certificate shall not entitle the holder
hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for
any purpose.

THIS CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE,
WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF
THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not in its individual
capacity, has caused this Certificate to be duly executed.

	 
	CREDIT ACCEPTANCE AUTO LOAN TRUST 2009-1

	By: U.S. BANK TRUST NATIONAL ASSOCIATION, not in its individual capacity but

solely as Owner Trustee

	By:

Dated:

4

(Reverse of Certificate)

The Certificates do not represent an obligation of, or an interest in, the Seller, the
Servicer, the Backup Servicer, the Owner Trustee or any Affiliates of any of them and no recourse
may be had against such parties or their assets, except as may be expressly set forth or
contemplated herein or in the Trust Agreement, the Indenture or the Basic Documents. In addition,
this Certificate is not guaranteed by any governmental agency or instrumentality and is limited in
right of payment to certain collections with respect to the Loans, all as more specifically set
forth herein and in the Sale and Servicing Agreement. A copy of each of the Sale and Servicing
Agreement and the Trust Agreement may be examined during normal business hours at the principal
office of the Seller, and at such other places, if any, designated by the Seller, by any
Certificateholder upon written request.

The Trust Agreement permits, with certain exceptions therein provided, the amendment thereof
and the modification of the rights and obligations of the Seller and the rights of the
Certificateholders under the Trust Agreement at any time by the Seller and the Owner Trustee with,
prior to the Note Termination Date, the prior written consent of the Majority Noteholders. Any
such consent shall be conclusive and binding on such holder and on all future holders of this
Certificate and of any Certificate issued upon the transfer hereof or in exchange hereof or in lieu
hereof whether or not notation of such consent is made upon this Certificate. The Trust Agreement
also permits the amendment thereof, in certain limited circumstances, without the consent of the
holders of any of the Certificates.

As provided in the Trust Agreement and subject to certain limitations set forth therein and
set forth on the front of this Certificate, the transfer of this Certificate is registerable in the
Certificate Register upon surrender of this Certificate for registration of transfer at the offices
or agencies of the Certificate Registrar maintained by the Owner Trustee in the Borough of
Manhattan, The City of New York, accompanied by a written instrument of transfer in form
satisfactory to the Owner Trustee and the Certificate Registrar duly executed by the Holder hereof
or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates in
authorized denominations evidencing the same aggregate interest in the Trust will be issued to the
designated transferee. The initial Certificate Registrar appointed under the Trust Agreement is
U.S. Bank Trust National Association.

The Certificates are issuable only as registered Certificates. As provided in the Trust
Agreement and subject to certain limitations therein set forth, Certificates are exchangeable for
new Certificates in authorized denominations evidencing the same aggregate denomination, as
requested by the holder surrendering the same. No service charge will be made for any such
registration of transfer or exchange, but the Owner Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or governmental charge payable in connection
therewith.

The Owner Trustee, the Certificate Registrar and any agent of the Owner Trustee or the
Certificate Registrar may treat the person in whose name this Certificate is registered as the
owner hereof for all purposes, and none of the Owner Trustee, the Certificate Registrar nor any
such agent shall be affected by any notice to the contrary.

The obligations and responsibilities created by the Trust Agreement and the Trust created
thereby shall terminate upon the payment to Certificateholders of all amounts required to be paid
to them pursuant to the Trust Agreement and the Sale and Servicing Agreement, and the disposition
of all property held as part of the Trust. The Servicer may at its option purchase the corpus of
the Trust at a price specified in the Sale and Servicing Agreement, and such purchase of the Loans
and other property of the Trust will effect early retirement of the Certificates; however, such
right of purchase is exercisable, subject to certain restrictions, only as of the last day of any
Collection Period as of which the sum of the Class A Note Balance plus the Class B Note Balance is
15% or less of the sum of the initial Class A Note Balance plus the initial Class B Note Balance,
including any such purchase on such Purchase Date.

The Certificates may not be acquired by (a) an employee benefit plan (as defined in Section
3(3) of ERISA) that is subject to the provisions of Title I of ERISA, (b) a plan to which Section
4975 of the Code applies or (c) any entity whose underlying assets include plan assets by reason of
a plan’s investment in the entity (each, a “Benefit Plan”). In connection with any acquisition or
transfer of a Certificate, the Holder thereof shall be required to represent and warrant that it is
not a Benefit Plan.

The recitals contained herein shall be taken as the statements of the Seller or the Servicer,
as the case may be, and the Owner Trustee assumes no responsibility for the correctness thereof.
The Owner Trustee makes no representations as to the validity or sufficiency of this Certificate or
of any Contracts or related document.

Unless the certificate of authentication hereon shall have been executed by an authorized
officer of the Owner Trustee, by manual or facsimile signature, this Certificate shall not entitle
the holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or
be valid for any purpose.

5

ASSIGNMENT

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto

PLEASE INSERT SOCIAL SECURITY

OR OTHER IDENTIFYING NUMBER

OF ASSIGNEE

(Please print or type name and address, including postal zip code, of assignee)

the within Certificate, and all rights thereunder, hereby irrevocably constituting and appointing

       Attorney to transfer said Certificate on the books of the
Certificate Registrar, with full power of substitution in the premises.

Dated:

______________________________*

* NOTICE: The signature to this assignment must
correspond with the name of the registered owner as it appears on the face of
the within Certificate in every particular, without alteration, enlargement or
any change whatsoever.

6

EXHIBIT B

[See attached.]

7

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