Document:

<PAGE>

                                                                EXHIBIT 4(F)(80)

                                                                  EXECUTION COPY

                           BACKUP SERVICING AGREEMENT

          BACKUP SERVICING AGREEMENT (the "Agreement"), dated as of November 21,
2006, among SYSTEMS & SERVICES TECHNOLOGIES, INC., a Delaware corporation (the
"Backup Servicer"), RADIAN ASSET ASSURANCE INC., a New York stock insurance
company (the "Class A Insurer"), XL CAPITAL ASSURANCE INC., a New York
corporation (the "Backup Insurer"), CREDIT ACCEPTANCE CORPORATION, a Michigan
corporation ("Credit Acceptance" or the "Servicer"), CREDIT ACCEPTANCE FUNDING
LLC 2006-2, a Delaware limited liability company (the "Seller"), CREDIT
ACCEPTANCE AUTO DEALER LOAN TRUST 2006-2, a Delaware statutory trust (the
"Trust" or the "Issuer") and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York
banking corporation, as trust collateral agent (the "Trust Collateral Agent").

                                   WITNESSETH:

          WHEREAS, Credit Acceptance, the Seller, the Backup Servicer, the
Issuer and the Trust Collateral Agent 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 Dealer Loan or Contract.

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

<PAGE>

          "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).

          "Material Adverse Change" means any circumstance or event which in the
reasonable judgment of the Controlling Party: (a) may be reasonably expected to
cause a material adverse change to the validity or enforceability of this
Agreement or the Sale and Servicing Agreement; or (b) may be reasonably expected
to materially impair the ability of the Backup Servicer to fulfill its
obligations under this Agreement or the Sale and Servicing Agreement.

          "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).

                                       2

<PAGE>

                                   ARTICLE 2
                          ADMINISTRATION AND COLLECTION

     SECTION 2.1. Reconciliation of Servicer's Certificate.

          (a) No later than 9:00 A.M. New York City time on the third Business
Day following the end of each Collection Period, the Servicer shall send to the
Backup Servicer an electronic file, detailing the Collections received during
the prior Collection Period and all other information in its possession relating
to the Dealer Loans and the Contracts as may be necessary for the complete and
correct completion of the Servicer's Certificate (the "Servicer's Data File")
(to the extent of the information required to be provided by the Servicer). Such
electronic file shall be in the form and have the specifications as may be
agreed to between the Servicer and the Backup Servicer from time to time. The
Backup Servicer shall, within one (1) day of the receipt thereof, load the
Servicer's Data File 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) No later than the end of the second Business Day prior to each
Determination Date, the Servicer shall furnish to the Backup Servicer the
Servicer's Certificate related to the prior Collection Period together with all
other information necessary for preparation of such Servicer's Certificate and
necessary to determine the application of Collections as provided in the Sale
and Servicing Agreement. The Backup Servicer shall review the information
contained in the Servicer's Certificate 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, the
Indenture Trustee, the Class A Insurer and the Backup Insurer 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.

                                       3

<PAGE>

          (d) The Servicer shall provide monthly, or as otherwise requested, to
the Backup Servicer, or its agent, information on the Dealer 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 Dealer 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 Determination 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 and the Pool Factor;

                                       4

<PAGE>

               (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;

               (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 Class A
Insurer, the Backup Insurer and 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 Class A Insurer and 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 Class A Insurer, 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

                                       5

<PAGE>

          duties hereunder or under the Sale and Servicing Agreement. In the
          event the Backup Servicer becomes aware of Errors or Continued Errors
          which, in the opinion of the Backup Servicer impairs its ability to
          perform its services hereunder, the Backup Servicer may, with the
          prior consent of the Class A Insurer, undertake to reconstruct and
          reconcile such data as it deems appropriate to correct such Errors and
          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 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 Controlling Party, or the Trust Collateral Agent if both
a Class A Insurer Default and a Backup Insurer Default have occurred and are
continuing, 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)(ix), 4.06(a)(x),
4.06(b)(i), 4.06(b)(ii), 4.06(b)(v)

                                       6

<PAGE>

(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 SST 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), 7.02 (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 Dealer Loans and Contracts in accordance herewith and the
Sale and Servicing Agreement.

          (b) In the event of a Backup Servicer Event of Default, the
Controlling Party shall have the right to terminate the Backup Servicer as
successor Servicer and Backup Servicer hereunder. Upon the termination or
resignation of the Backup Servicer hereunder, the Controlling Party 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 Controlling Party. 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, and the Controlling Party does
not elect to waive the obligations of the Backup Servicer to perform the duties
which render it legally unable to act or to delegate those duties to another
Person. 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 Controlling Party. No resignation of
the Backup Servicer shall become effective until an entity reasonably acceptable
to the Controlling Party shall have assumed the responsibilities and obligations
of the Backup Servicer.

                                       7

<PAGE>

          (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, 2006, the Backup Servicer shall be required to deliver to
the Indenture Trustee, the Trust Collateral Agent and the Class A Insurer 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, the Trust Collateral Agent, the
Class A Insurer and the Backup Insurer.

     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
Dealer 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 Dealer 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 Dealer Loan or Contract.

                                       8

<PAGE>

          (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. 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 the 10th day of each calendar month until the
earlier of the Assumption Date or the termination of this Agreement, Credit
Acceptance shall provide a Live Data File (as defined below) transmission to the
Backup Servicer, which shall include the Dealer 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"). 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. To verify that Live Data Files have been accurately
converted to the Backup Servicer's internal servicing system, the Backup
Servicer will provide Credit Acceptance with such reports as are mutually agreed
upon by Credit Acceptance and the Backup Servicer from time to time. Credit
Acceptance reserves the right to review converted data on the Backup Servicer's
system either by performing an onsite review of the Backup Servicer's systems
or, at Credit Acceptance's sole expense, by having remote access to the Backup
Servicer's systems.

          (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 Dealer 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 Dealer Loans and Contracts to the Backup
Servicer.

                                       9

<PAGE>

     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 Dealer 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 Dealer Loans, including, without limitation, endorsing Credit
Acceptance's name on checks and other instruments representing Collections and
enforcing the Dealer 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.

                                       10

<PAGE>

          (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 Dealer 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 Dealer
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.

          In the event the Backup Servicer becomes aware of Errors and/or
Continued Errors which, in the opinion of the Backup Servicer, impair its
ability to perform its services hereunder, the Backup Servicer shall promptly
notify the Servicer, the Class A Insurer and the Backup Insurer of such Errors
and/or Continued Errors. With the prior consent of the Servicer and the
Controlling Party, the Backup Servicer may undertake to reconstruct any data or
records appropriate to correct such Errors and/or Continued Errors and to
prevent future Continued Errors. The Backup Servicer shall be entitled to
recover its costs thereby expended from the Servicer.

          (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.

                                       11

<PAGE>

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
corporation under the laws of the jurisdiction of its incorporation, and will
obtain and preserve its qualification to do business as a foreign corporation 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, 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

                                       12

<PAGE>

Date, the Backup Servicer shall deliver or cause to be delivered to the Class A
Insurer, the Backup Insurer and the Trust Collateral Agent a certificate (the
"Backup Servicer's Certificate"), in form and substance satisfactory to the
Controlling Party, 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, the Trust
Collateral Agent or the Controlling Party, 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, the Trust Collateral Agent, the Class
A Insurer and the Backup Insurer. 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 corporation in good standing under the
laws of Delaware, 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.

                                       13
<PAGE>

          (b) Due qualification. The Backup Servicer is duly qualified to do
business as a foreign corporation 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;

                                       14

<PAGE>

(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 Class A
Insurer, 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 Class A Insurer and the Backup Insurer, or, if both a Class
A Insurer Default and a Backup Insurer Default have occurred and are continuing,
the Indenture Trustee who shall distribute such notice to the Class A
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
Controlling Party.

          (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

                                       15

<PAGE>

(y) to deliver to the Trust Collateral Agent, the Class A Insurer or the Backup
Insurer 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
Class A Insurer, 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 Controlling Party may, 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 Controlling Party in effecting the
termination of the responsibilities and rights of the terminated Backup Servicer
under this Agreement.

     SECTION 4.3. Backup Servicing Termination.

          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 Class A
Insurer or the Trust Collateral Agent of such termination with a copy to the
Backup Insurer.

                                       16

<PAGE>

     SECTION 4.4. Return of Confidential Information.

          Upon termination of this Agreement, the Backup Servicer shall, at the
direction of the Controlling Party or the Trust Collateral Agent, 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 Dealer Loan Trust 2006-2
          c/o U.S. Trust Bank National Association
          300 Delaware Avenue, 9th Floor
          Wilmington, DE 19801
          Telephone: (302) 552-3104
          Telecopy: (302) 552-3129

                                       17

<PAGE>

If to the Servicer:

          Credit Acceptance Corporation
          Silver Triangle Building
          25505 West Twelve Mile Road, Suite 3000
          Southfield, Michigan 48034-8339
          Attention: Wendy Rummler
          Telephone: (248) 353-2700 (ext. 4217)
          Telecopy: (866) 249-3138

If to the Trust Collateral Agent:

          Deutsche Bank Trust Company Americas
          60 Wall Street, 26th Floor
          New York, NY 10005
          Attention: Lou Bodi
          Telephone: (212) 250-4855

If to the Class A Insurer:

          Radian Asset Assurance Inc.
          335 Madison Avenue
          New York, NY 10017-4605
          Attention: Chief Risk Officer and Chief Legal Officer
          Telephone: (212) 983-3100
          Telecopy: (212) 682-5377
          (With an electronic copy to ABSRM@radian.biz in the case of any
          reporting information required to be provided to the Class A Insurer)

If to the Backup Insurer:

          XL Capital Assurance Inc.
          1221 Avenue of the Americas
          31st Floor
          New York, NY 10020-1001
          Attention: Surveillance
          Telephone: (212) 478-3400
          Telecopy: (212) 478-3597

If to the Backup Servicer:

          Systems & Services Technologies, Inc.
          4315 Pickett Road
          St. Joseph, MO 64503
          Attention: John Chappell, President and Joseph Booz, Executive Vice
          President/General Counsel
          Telephone: (816) 671-2022
          Telecopy: (816) 671-2029

                                       18

<PAGE>

     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, the Class A Insurer and the Backup Insurer 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 Controlling Party, 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
Class A 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. Controlling Party. So long as any Class A Note is outstanding,
the Controlling Party shall have the power to exercise the voting, control and
consent rights granted to the Class A Noteholders; provided, however, that after
the occurrence and during the continuance of a Class A Insurer Default, all
voting, consent or control rights of the Class A Insurer shall be suspended and
the Backup Insurer shall be the Controlling Party. Upon the cure of a Class A
Insurer Default, such voting, consent and control rights shall be reinstated. If
the Backup Insurer is the Controlling Party, after the occurrence and during the
continuance of a Backup Insurer Default, any voting, consent or control rights
granted to the Backup Insurer shall be suspended. Upon the cure of any such
Backup Insurer Default, the Backup Insurer's voting, consent and control rights
shall be reinstated.

     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.

                                       19

<PAGE>

     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]

                                       20

<PAGE>

          IN WITNESS WHEREOF, the Servicer, the Class A Insurer, the Backup
Servicer, the Trust Collateral Agent, the Issuer and the Seller have caused this
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 W. Busk
                                            ------------------------------------
                                        Name: Douglas W. Busk
                                        Title: Treasurer

                                        RADIAN ASSET ASSURANCE INC.,
                                        as Class A Insurer

                                        By: /s/ George F. Schulz
                                            ------------------------------------
                                        Name: George F. Schulz
                                        Title: Vice President

                                        XL CAPITAL ASSURANCE INC.,
                                        as Backup Insurer

                                        By: /s/ Catherine R. Lau
                                            ------------------------------------
                                        Name: Catherine R. Lau
                                        Title: Senior Managing Director

                                        SYSTEM & SERVICES TECHNOLOGIES, INC.,
                                        as Backup Servicer

                                        By: /s/ Kimberly K. Costa
                                            ------------------------------------
                                        Name: Kimberly K. Costa
                                        Title: Vice President

                                        DEUTSCHE BANK TRUST COMPANY AMERICAS,
                                        as Trust Collateral Agent

                                        By: /s/ Louis Bodi
                                            ------------------------------------
                                        Name: Louis Bodi
                                        Title: Vice President

                                        By: /s/ Jenna Kaufman
                                            ------------------------------------
                                        Name: Jenna Kaufman
                                        Title: Vice President

                   [Backup Servicing Agreement Signature Page]

<PAGE>

                                        CREDIT ACCEPTANCE AUTO DEALER LOAN
                                        TRUST 2006-2, as Issuer

                                        By: U.S. Bank Trust National
                                        Association, not in its individual
                                        capacity but solely as Owner Trustee

                                        By: /s/ Mildred F. Smith
                                            ------------------------------------
                                        Name: Mildred F. Smith
                                        Title: Vice President

                                        CREDIT ACCEPTANCE FUNDING LLC 2006-2,
                                        as Seller

                                        By: /s/ Douglas W. Busk
                                            ------------------------------------
                                        Name: Douglas W. Busk
                                        Title: Treasurer

                  [Backup Servicing Agreement Signature Page 2]

<PAGE>

                                    Exhibit I

                          Backup Servicer Certification<PAGE>

                                                                EXHIBIT 4(f)(81)

                                 EXECUTION COPY

                      AMENDED AND RESTATED TRUST AGREEMENT

                                     between

                      CREDIT ACCEPTANCE FUNDING LLC 2006-2
                                     Seller

                                       and

                      U.S. BANK TRUST NATIONAL ASSOCIATION
                                  Owner Trustee

                          Dated as of November 21, 2006

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                         <C>
ARTICLE I Definitions....................................................     1
   SECTION 1.1.   Capitalized Terms......................................     1
   SECTION 1.2.   Other Definitional Provisions..........................     3

ARTICLE II Organization..................................................     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 III Certificates 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 IV Voting 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.............................................    19
   SECTION 4.4.   Restrictions on Certificateholders' Power..............    19
   SECTION 4.5.   Majority Control.......................................    19
   SECTION 4.6.   Rights of the Controlling Party........................    20

ARTICLE V Certain Duties.................................................    20
   SECTION 5.1.   Accounting and Records to the Certificateholders, the
                  Internal Revenue Service and Others....................    20
</TABLE>

                                        i

<PAGE>

<TABLE>
<S>                                                                         <C>
   SECTION 5.2.   Signature on Returns; Tax Matters Partner..............    20

ARTICLE VI Authority and Duties of Owner Trustee.........................    21
   SECTION 6.1.   General Authority......................................    21
   SECTION 6.2.   General Duties.........................................    21
   SECTION 6.3.   Action upon Instruction................................    22
   SECTION 6.4.   No Duties Except as Specified in this Agreement or in
                  Instructions...........................................    23
   SECTION 6.5.   No Action Except under Specified Documents or
                  Instructions...........................................    23
   SECTION 6.6.   Restrictions...........................................    23

ARTICLE VII Concerning 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 Dealer
                  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 VIII Compensation 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..........................    28
   SECTION 8.4.   Non-Recourse Obligations...............................    28

ARTICLE IX Termination of Trust Agreement................................    29
   SECTION 9.1.   Termination of Trust Agreement.........................    29

ARTICLE X Successor 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 XI Miscellaneous.................................................    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..................................    36
   SECTION 11.6.  Assignments; Class A Insurer, Backup Insurer...........    36
   SECTION 11.7.  No Petition............................................    36
</TABLE>

                                       ii

<PAGE>

<TABLE>
<S>                                                                         <C>
   SECTION 11.8.  No Recourse............................................    36
   SECTION 11.9.  Headings...............................................    37
   SECTION 11.10. GOVERNING LAW..........................................    37
   SECTION 11.11. Servicer...............................................    37
   SECTION 11.12. Controlling Party......................................    37
</TABLE>

EXHIBITS

EXHIBIT A FORM OF CERTIFICATE
EXHIBIT B CERTIFICATE OF TRUST

                                      iii
<PAGE>

          This AMENDED AND RESTATED TRUST AGREEMENT dated as of November 21,
2006 between CREDIT ACCEPTANCE FUNDING LLC 2006-2, 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 9, 2006. The Owner Trustee and the Seller heretofore entered into an
Interim Trust Agreement dated November 9, 2006 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:

          "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 of Trust" shall mean the certificate of trust for the
Trust filed on November 9, 2006, 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,
the Class A Insurer, the Backup Insurer 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, the Class A Insurer,
the Backup Insurer and the Seller).

<PAGE>

          "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 15, 2006 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 2006-2 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
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 Class A
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.

                                        2

<PAGE>

          "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 Dealer Loan Trust 2006-2", 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.

                                        3

<PAGE>

     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, the Class A Insurer, the
Backup Insurer 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 Class A Notes pursuant to the Indenture and
     the Certificates pursuant to this Agreement, and to sell the Class A Notes
     and the Certificates;

                    (ii) with the proceeds of the sale of the Class A 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 Class A Noteholders, the Class A Insurer,
     the Backup Insurer 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, the Class A Insurer, the Backup Insurer and the Class A
     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

                                        4

<PAGE>

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, the Class A Insurer, the Backup Insurer 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 Class A 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

                                        5

<PAGE>

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 and on which the Class A Insurer relies in issuing the Class A
Note Insurance Policy and on which the Backup Insurer relies in issuing the
Backup Insurance Policy.

               (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

                                        6

<PAGE>

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 Class A 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 Class A 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

                                        7

<PAGE>

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 Holder, the
Class A Insurer, the Backup Insurer 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

                                        8

<PAGE>

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 Dealer 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 Class A 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;

                                        9

<PAGE>

               (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"). An Independent Director shall be any
person who (a) is not and has not been (i) a stockholder, officer, director
(except in its capacity as Independent Directors of the Seller), partner, member
or employee of the Seller's ultimate parent or any Subsidiaries or Affiliates
thereof or of a significant customer, creditor, supplier or independent
contractor of the Seller, its ultimate parent or any Subsidiaries or Affiliates
thereof, and is not himself such a significant customer, creditor, supplier or
independent contractor, or (ii) a member of the immediate family of any person
described above, and (b) does not directly or indirectly own any class of voting
securities of the Seller or any of its Subsidiaries or Affiliates.

                                       10

<PAGE>

As used in this covenant of the Seller, the terms "Affiliate" and "Subsidiary"
shall have the meanings ascribed thereto in the limited liability company
agreement of the Seller as of the date of this Agreement;

               (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, the Class A Insurer, the Backup Insurer 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

                                       11

<PAGE>

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. Notwithstanding the provisions of Section 3.4 hereof, if the Seller is the
Holder of a Certificate, it shall not pledge, sell, transfer, assign or convey
such Certificate without the consent of the Controlling Party, or the Indenture
Trustee, at the direction of the Majority Noteholders, if both a Class A Insurer
Default and a Backup Insurer Default have occurred and are continuing, until the
earlier of: (i) the Class A Termination Date; and (ii) the date on which Credit
Acceptance is no longer Servicer under the Sale and Servicing Agreement.

     SECTION 3.3. Authentication of Certificates.

          Concurrently with the initial sale of the Dealer 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

                                       12

<PAGE>

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, the
Trust Collateral Agent, the Class A Insurer and the Backup Insurer 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,
the Trust Collateral Agent, the Class A Insurer and the Backup Insurer 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.

                                       13

<PAGE>

          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 and, prior to
the Class A Termination Date, the Controlling Party, 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, the Class A Insurer, the
Backup Insurer 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, the Class
A Insurer, the Backup Insurer and any agent of the Owner Trustee, the Trust
Collateral Agent, the Class A Insurer, the Backup Insurer 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

                                       14

<PAGE>

the Owner Trustee, the Trust Collateral Agent, the Class A Insurer, the Backup
Insurer nor the Certificate Registrar nor any agent of the Owner Trustee, the
Trust Collateral Agent, the Class A Insurer, the Backup Insurer 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 and, prior to the Class A Termination Date,
the Class A Insurer and the Backup Insurer, 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 Class A Insurer, the Backup Insurer, 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
and, prior to the Class A Termination Date, the Class A Insurer and the Backup
Insurer, in writing of the proposed action at least 30 days before the taking of
such action, and (ii) the Controlling Party prior to the Class

                                       15

<PAGE>

A Termination Date, and thereafter, 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 Class A Noteholder is
     required;

                    (iii) the amendment of the Indenture by a supplemental
     indenture in circumstances where the consent of any Class A 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 Dealer 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.

                                       16
<PAGE>

               (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 with notice to the Class A Insurer and the Backup
     Insurer. 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.

                                       17

<PAGE>

                    (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 Controlling Party and 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, the
Class A Insurer, the Backup Insurer 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 with the prior written consent of the
Controlling Party or, prior to the Class A Termination Date, the Controlling
Party 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 Dealer Loans after the termination of the Indenture.
The Owner Trustee shall take the actions referred to in the preceding sentence
only upon written instructions

                                       18

<PAGE>

signed by the Certificateholders or the Controlling Party, as applicable, and
written consent of the Controlling Party 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 Class A Termination Date, the Controlling
Party or the Indenture Trustee, at the direction of the Majority Noteholders, if
both a Class A Insurer Default and a Backup Insurer Default have occurred and
are continuing, 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 Class A Termination Date,
written consent of the Controlling Party or the Indenture Trustee, at the
direction of the Majority Noteholders, if both a Class A Insurer Default and a
Backup Insurer Default have occurred and are continuing.

     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 in its own name as Owner Trustee 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.

                                       19

<PAGE>

     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 Controlling Party.

          Notwithstanding anything to the contrary in the Basic Documents,
without the prior written consent of the Controlling Party, prior to the Class A
Termination Date, 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 Dealer 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) 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
all elections pursuant to this Section as directed in writing by the Seller. The
Owner Trustee 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 Dealer 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.

                                       20

<PAGE>

               (a) Notwithstanding the provisions of Section 5.1, the Owner
Trustee shall sign on behalf of the Trust the 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 $100,000,000. 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, the Class
A Insurer and the Backup Insurer, 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 Class A 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; and (ii) to the extent that Owner Trustee has
contracted with a third party acceptable to the Controlling Party to discharge
such duties and responsibilities. The Servicer,

                                       21

<PAGE>

Credit Acceptance, the Backup Servicer, the Trust Collateral Agent and the
Seller shall all be deemed acceptable to the Controlling Party.

     SECTION 6.3. Action upon Instruction.

               (a) Subject to Article IV, the Majority Certificateholders, with,
prior to the Class A Termination Date, the consent of the Controlling Party (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 or with instructions of the Class A Noteholders acting pursuant to the
Basic Documents. 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, the Class A Insurer and the
Backup Insurer, 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

                                       22

<PAGE>

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, the
Class A Insurer and the Backup Insurer, 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

                                       23

<PAGE>

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;

               (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 Class A 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, the Class A Insurer, the Backup Insurer, any Class A 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
Class A Insurer, the Backup Insurer, 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

                                       24

<PAGE>

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, the Class A
Insurer, the Backup Insurer 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, the
Class A Insurer (which has relied on such representations and warranties in
issuing the Class A Note Policy), the Backup Insurer (which has relied on such
representations and warranties in issuing the Backup Insurance Policy) 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.

                                       25

<PAGE>

     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 are acceptable to the Controlling Party
(provided that any person to whom duties and obligations of the Owner Trustee
are delegated pursuant to and in accordance with the Basic Documents shall be
deemed to be acceptable to the Controlling Party), and (ii) may consult with
counsel, accountants and other skilled persons acceptable to the Controlling
Party 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 Dealer 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 Class A Notes,
or of any Dealer Loan, Contract or related

                                       26

<PAGE>

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 Dealer Loan or Contract, or the perfection and priority of any security
interest created by any Dealer 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 Class A
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
Dealer Loan or Contract on any computer or other record thereof; the validity of
the assignment of any Dealer Loan or Contract to the Trust or of any intervening
assignment; the completeness of any Dealer Loan or Contract; the performance or
enforcement of any Dealer 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 Class A 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

                                       27

<PAGE>

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.

     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 Dealer 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.

                                       28

<PAGE>

          Notwithstanding anything in this Agreement or any Basic Document, the
Owner Trustee agrees that all obligations of the Trust individually or as Owner
Trustee for 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 Dealer 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
Dealer 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; (ii) the
Servicer pursuant to Section 7.06 of the Sale and Servicing Agreement; (iii) the
Class A Insurer pursuant to Section 4.03 of the Insurance Agreement as to the
absence of liabilities; and (iv) the Backup Insurer pursuant to Section 4.03 of
the Insurance Agreement as to the absence of liabilities. The Seller shall
promptly notify the Owner Trustee, the Class A Insurer and the Backup Insurer 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

                                       29

<PAGE>

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), the Class
A Insurer, the Backup Insurer 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; (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; and (iv)
prior to the Class A Termination Date, acceptable to the Controlling Party in
its sole discretion. 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

                                       30

<PAGE>

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, the Class
A Insurer, the Backup Insurer and the Servicer. Upon receiving such notice of
resignation, the Seller shall promptly appoint a successor Owner Trustee
acceptable to the Controlling Party and 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; provided that the Seller shall have received written confirmation
from the Rating Agencies that the proposed appointment will not result in an
increased capital charge to either Insurer by the Rating Agencies. 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, prior to the Class A Termination Date, the
Controlling Party may petition any court of competent jurisdiction for the
appointment of a successor Owner Trustee acceptable to the Controlling Party and
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 with the prior written consent of the
Controlling Party 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, prior to the Class
A Termination Date, the Controlling Party or the Seller with, prior to the Class
A Termination Date, the consent of the Controlling Party may remove the Owner
Trustee. If the Seller or the Controlling Party shall remove the Owner Trustee
under the authority of the immediately preceding sentence, the Seller shall, or
the Controlling Party may, promptly appoint a successor Owner Trustee acceptable
to the Controlling Party, and 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, one copy to the
Class A Insurer, one copy to the successor Owner Trustee and one copy to the
Backup Insurer and payment of all fees owed to the outgoing Owner Trustee;
provided, that the Seller shall have received written confirmation from the
Rating Agencies that the proposed appointment will not result in an increased
capital charge to either the Class A Insurer or the Backup Insurer by the Rating
Agencies.

          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.

                                       31
<PAGE>

          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 Class A Insurer, the Backup
Insurer, 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 Class A Insurer,
the Backup Insurer, the Class A 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 Class A Insurer, the Backup
Insurer and 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

                                       32

<PAGE>

more Persons approved by the Owner Trustee and the Controlling Party 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 Controlling Party, 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 and a copy to the Class A
Insurer and the Backup Insurer.

          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

                                       33

<PAGE>

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 (x) prior to the Class A Termination Date, the prior written
consent of the Controlling Party and (y) prior written notice to the Rating
Agencies, without the consent of any of the Class A 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 Class A 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 Class A Termination Date, the written consent of
the Controlling Party 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
Controlling Party 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 Dealer Loans or distributions that shall
be required to be made for the benefit of the Class A Noteholders; or (b) reduce
the percentage of the Outstanding Amount of the Class A Notes required to
consent to any such amendment, without the consent of the Holders of all the
outstanding Class A Notes. Notwithstanding anything herein to the contrary, the
Backup Insurer must consent to any amendments to this Agreement which have an
adverse effect on the Backup Insurer.

          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 Certificateholder, the Class A Insurer, the Backup
Insurer, the Indenture Trustee and the Rating Agencies.

          It shall not be necessary for the consent of the Class A Noteholders
or the Indenture Trustee 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.

                                       34

<PAGE>

          Prior to the execution of any amendment to this Agreement or the
Certificate of Trust, the Owner Trustee, the Indenture Trustee, the Class A
Insurer and the Backup Insurer 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 Class A Insurer, the Backup Insurer, the Backup Servicer and, to
the extent expressly provided herein, the Indenture Trustee, the Trust
Collateral Agent and the Class A 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 2006-2, Silver Triangle Building, 25505 West Twelve Mile
Road, Southfield, Michigan, 48034-8339, Attention: Wendy Rummler; phone number:
(248) 353-2700 (ext. 4217); fax number: (866) 249-3138; if to the Class A
Insurer, addressed to Radian Asset Assurance Inc., 335 Madison Avenue, New York,
New York 10017-4605, Attention: Chief Risk Officer, Chief Legal Officer, "Urgent
Material Enclosed" with an electronic copy sent to ABSRM@radian.biz in the case
of any information required to be provided to the Class A Insurer; if to the
Backup Insurer, addressed to XL Capital Assurance Inc., 1221 Avenue of the
Americas, 31st Floor, New York, New York, 10020-1001, Attention: Surveillance,
or, as to each party, at such other address as shall be designated by such party
in a written notice to each other party; if to the Indenture Trustee, the Trust
Collateral Agent, the Servicer, the Backup Servicer or the Rating Agency,
addressed to each respective entity as set forth in the notice provisions of the
Basic Documents.

               (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.

                                       35

<PAGE>

          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; Class A Insurer, Backup Insurer.

          This Agreement shall inure to the benefit of and be binding upon the
parties hereto, the Class A Insurer, the Backup Insurer (in each case, to the
extent set forth herein) and their respective successors and permitted assigns.
Without limiting the generality of the foregoing, all covenants and agreements
in this Agreement which confer rights upon the Class A Insurer or the Backup
Insurer, as the case may be, shall be for the benefit of and run directly to the
Class A Insurer or the Backup Insurer, as the case may be, and the Class A
Insurer or the Backup Insurer, as the case may be, shall be entitled to rely on
and enforce such covenants, subject, however, to the limitations on such rights
provided in this Agreement and the Basic Documents. The Class A Insurer and the
Backup Insurer may each disclaim any of its respective rights and powers under
this Agreement (but not its duties and obligations under the Class A Note
Insurance Policy or the Backup Insurance Policy, as the case may be), upon
delivery of a written notice to the Owner Trustee.

     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 Class A 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 Class A 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, the
Class A Insurer, the Backup Insurer 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.

                                       36

<PAGE>

     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.

          The Servicer 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.

     SECTION 11.12. Controlling Party.

          So long as any Class A Note is outstanding, the Controlling Party
shall have the power to exercise the voting rights granted to the Class A
Noteholders, except as set forth in Section 11.1 hereof; provided, however, that
during the continuance of a Class A Insurer Default, all voting, consent or
control rights of the Class A Insurer shall be suspended and the Backup Insurer
shall be the Controlling Party. Upon the cure of a Class A Insurer Default, such
voting, consent and control rights shall be reinstated. If the Backup Insurer is
the Controlling Party, during the continuance of a Backup Insurer Default, any
voting, consent or control rights granted to the Backup Insurer shall be
suspended. Upon the cure of any such Backup Insurer Default, the Backup
Insurer's voting, consent and control rights shall be reinstated.

                                       37

<PAGE>

          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/ Mildred F. Smith
                                            ------------------------------------
                                        Name: Mildred F. Smith
                                        Title: Vice President

                                        CREDIT ACCEPTANCE FUNDING LLC
                                        2006-2, as Seller

                                        By: /s/ Douglas W. Busk
                                            ------------------------------------
                                        Name: Douglas W. Busk
                                        Title: Treasurer

                        [Trust Agreement Signature Page]

<PAGE>

                                                                       EXHIBIT A

                               FORM OF CERTIFICATE

                   SEE ATTACHED PAGES FOR CERTAIN DEFINITIONS

          THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENTS TO THE CLASS A
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 AND, PRIOR TO THE CLASS A TERMINATION DATE, THE
CONTROLLING PARTY) 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 AND THE CLASS A INSURER, 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.

<PAGE>

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 dealer loans secured by
retail installment sales contracts secured by used automobiles, light duty
trucks, minivans or sport utility vehicles and sold to the Trust by Credit
Acceptance Funding LLC 2006-2.

(THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF CREDIT
ACCEPTANCE FUNDING LLC 2006-2 OR ANY OF ITS AFFILIATES, EXCEPT TO THE EXTENT
DESCRIBED BELOW.)

          THIS CERTIFIES THAT Credit Acceptance Funding LLC 2006-2 is the
registered owner of the Percentage Interest set forth above of the beneficial
ownership interest in certain distributions of Credit Acceptance Auto Dealer
Loan Trust 2006-2 (the "Trust") formed by Credit Acceptance Funding LLC 2006-2,
a Delaware special purpose limited liability company (the "Seller"). The
Certificates do not accrue interest.

                  OWNER TRUSTEE'S CERTIFICATE OF AUTHENTICATION

<PAGE>

          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

<PAGE>

          The Trust was created pursuant to a Certificate of Trust and an
Interim Trust Agreement dated November 9, 2006 (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 Deutsche Bank Trust Company Americas, as
Indenture Trustee, one class of Notes designated as "5.38% Class A Asset Backed
Notes" (the "Class A Notes" or 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"), 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, 2006, 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 Class A 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 Class A Notes, the Trust Agreement or any of the Basic
Documents.

<PAGE>

          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.

<PAGE>

          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 DEALER LOAN TRUST
                                        2006-2

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

                                        By:
                                            ------------------------------------

Dated:
       -------------

<PAGE>

                            (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 Dealer
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 Class A Termination
Date, the prior written consent of the Controlling Party, and, in certain
circumstances, the consent of the Backup Insurer, and in certain circumstances
the consent of the holders of the Class A Notes evidencing not less than a
majority of the then-outstanding Class A Note Balance. 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; provided, however, that if the Seller is the Holder of
this Certificate, this Certificate is non-transferable without the prior written
consent of the Controlling Party or the Indenture Trustee, at the direction of
the Majority Noteholders, if both a Class A Insurer Default and a Backup Insurer
Default have occurred and are continuing: (i) prior to the Class A Termination
Date or (ii) if Credit Acceptance is the Servicer. 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

<PAGE>

require payment of a sum sufficient to cover any tax or governmental charge
payable in connection therewith.

          The Owner Trustee, the Class A Insurer, the Backup Insurer, the
Certificate Registrar and any agent of the Owner Trustee, the Class A Insurer,
the Backup Insurer 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, the Class A Insurer, the
Backup Insurer 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, upon the payment to the
Class A Insurer and the Backup Insurer of all amounts required to be paid to it
under the Basic Documents, 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
Dealer 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
Class A Note Balance is 15% or less of the initial Class A 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.

<PAGE>

                                   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.

<PAGE>

                                                                       EXHIBIT B

                                 [See attached.]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]