EXHIBIT (a)(5)(i)
NOTICE OF GUARANTEED DELIVERY
FOR
TENDER OF SHARES OF COMMON STOCK
OF
CREDIT ACCEPTANCE CORPORATION
(NOT TO BE USED FOR SIGNATURE GUARANTEES)
As set forth in Section 3 of the Offer to Purchase, dated November 26,
2003, this Notice of Guaranteed Delivery, or a facsimile hereof, must be used to
accept the tender offer if:
(a) certificates representing shares of common stock, par value $0.01
per share, of Credit Acceptance Corporation, a Michigan corporation
("CAC"), cannot be delivered prior to the "expiration date" (as defined in
Section 1 of the Offer to Purchase); or (b) the procedure for book-entry
transfer cannot be completed before the expiration date; or (c) time will
not permit a properly completed and duly executed Letter of Transmittal, or
manually signed facsimile thereof, and all other required documents to
reach the Depositary referred to below before the expiration date.
This form or a facsimile of it, signed and properly completed, may be
delivered by hand or transmitted by facsimile transmission or mailed to the
Depositary so that it is received by the Depositary before the expiration date
and must include a guarantee by "an eligible guarantor institution." See Section
3 of the Offer to Purchase.
The Depositary for the Offer is:
(COMPUTERSHARE LOGO)
<Table>
By Mail: By Facsimile Transmission: By Hand or Overnight Courier:
Computershare Trust Company For Eligible Institutions Only: Computershare Trust Company
of New York (212) 701-7636 of New York
Wall Street Station Wall Street Plaza
P.O. Box 1010 For Confirmation Only 88 Pine Street, 19th Floor
New York, NY 10268-1010 Telephone: New York, NY 10005
(212) 701-7635
</Table>
Any questions or requests for assistance or additional copies may be
directed to the Information Agent at its telephone number or address set forth
below. You may also contact your broker, dealer, commercial bank or trust
company or other nominee for assistance concerning the Offer.
The Information Agent for the Offer is:
(GEORGESON SHAREHOLDER LOGO)
17 State Street -- 10th Floor
New York, NY 10004
Banks and Brokers Call (212) 440-9800
ALL OTHERS CALL TOLL-FREE (800) 213-0446
FOR THIS NOTICE TO BE VALIDLY DELIVERED IT MUST BE RECEIVED BY THE
DEPOSITARY AT ONE OF THE ABOVE ADDRESSES PRIOR TO THE EXPIRATION DATE. DELIVERY
OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN AS SET FORTH
ABOVE, OR TRANSMISSION OF INSTRUCTIONS VIA FACSIMILE TRANSMISSION OTHER THAN AS
SET FORTH ABOVE, WILL NOT CONSTITUTE A VALID DELIVERY.
Ladies and Gentlemen:
The undersigned hereby tenders the above described shares to CAC at the
price per share indicated below, net to the seller in cash, without interest,
upon the terms and subject to the conditions set forth in the Offer to Purchase,
and the related Letter of Transmittal (which together constitute the "Offer"),
receipt of which are hereby acknowledged.
BOX A
SHARES TENDERED AT PRICE DETERMINED BY SHAREHOLDER
(SEE INSTRUCTION 5 OF THE LETTER OF TRANSMITTAL)
By checking one of the boxes below instead of the box under Box B, "Shares
Tendered at Price Determined Under the Tender Offer," the undersigned hereby
tenders shares at the price checked. This action could result in none of the
shares being purchased if the purchase price determined by CAC for the shares is
less than the price checked below. A shareholder who desires to tender shares at
more than one price must complete a separate Letter of Transmittal for each
price at which shares are tendered. The same shares cannot be tendered, unless
previously properly withdrawn as provided in Section 4 of the Offer to Purchase,
at more than one price.
PRICE (IN DOLLARS) PER SHARE AT WHICH SHARES ARE BEING TENDERED (CHECK THE
APPROPRIATE BOX TO INDICATE THE TENDER PRICE, NOT TO BE LESS THAN $12.50 AND NOT
TO EXCEED $17.00
<Table>
[ ] $12.50 [ ] $13.50 [ ] $14.50 [ ] $15.50 [ ] $16.50
[ ] $13.00 [ ] $14.00 [ ] $15.00 [ ] $16.00 [ ] $17.00
</Table>
Check the appropriate box above or, alternatively, check the box below
under Box B, "Shares Tendered at Prices Determined Under the Tender Offer."
Unless you check the box under Box B, if you do not check one and only one of
the boxes above, you will not have validly tendered your shares.
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BOX B
SHARES TENDERED AT PRICE DETERMINED UNDER THE TENDER OFFER
(SEE INSTRUCTION 5 OF THE LETTER OF TRANSMITTAL)
[ ] The undersigned wants to maximize the chance of having CAC purchase all of
the shares the undersigned is tendering (subject to the possibility of
proration). Accordingly, by checking this box instead of one of the boxes in
Box A, the undersigned hereby tenders shares at, is willing to accept, the
purchase price determined by CAC in accordance with the terms of the Offer.
This action could result in receiving a price per share as low as $12.50.
YOU WILL NOT HAVE VALIDLY TENDERED YOUR SHARES IF MORE THAN ONE BOX IS
CHECKED OR IF NO BOX IS CHECKED.
CONDITIONAL TENDER
(SEE INSTRUCTION 6 TO THE LETTER OF TRANSMITTAL)
A shareholder may tender shares subject to the condition that a specified
minimum number of the shareholder's shares tendered pursuant to this Letter of
Transmittal must be purchased if any shares tendered are purchased, all as
described in the Offer to Purchase, particularly in Section 6 thereof. Unless
the minimum number of shares indicated below is purchased by CAC in the Offer,
none of the shares tendered by such shareholder will be purchased. It is the
responsibility of the shareholder to calculate the minimum number of shares that
must be purchased if any are purchased, and CAC urges shareholders to consult
their own tax advisor before completing this section. Unless this box has been
checked and a minimum specified, the tender will be deemed unconditional.
[ ] Minimum number of shares that must be purchased, if any are
purchased: shares.
If, because of proration, the minimum number of shares designated will
not be purchased, CAC may accept conditional tenders by random lot, if
necessary. However, to be eligible for purchase by random lot, the
tendering shareholder must have tendered all of his or her shares and
checked the box below.
[ ] The tendered shares represent all shares held by the undersigned.
ODD LOTS
(SEE INSTRUCTION 9 IN THE LETTER OF TRANSMITTAL)
To be completed only if shares are being tendered by or on behalf of a
person owning beneficially or of record, as of the close of business on November
25, 2003, and who continues to own, beneficially or of record, as of the
expiration date an aggregate of fewer than 100 shares.
The undersigned either (CHECK ONE BOX):
[ ] is the beneficial or of record an aggregate of fewer than 100 shares
and is tendering all of those shares; or
[ ] is a broker, dealer, commercial bank, trust company or other nominee
that: (a) is tendering, for the beneficial owner(s) thereof, shares
with respect to which it is the record owner; and (b) believes, based
upon representations made to it by such beneficial owner(s), that each
such person is the beneficial owner of an aggregate of fewer than 100
shares and is tendering all of such shares.
3
In addition, the undersigned is tendering shares either (CHECK ONE BOX):
[ ] at the price per share indicated in Box A above under "Shares Tendered
at Price Determined By Shareholder;" or
[ ] at the purchase price, as the same shall be determined by CAC in
accordance with the terms of the Offer (persons checking this box
should check Box B on page 2).
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Number of shares of common stock:
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Name(s) of Record Holder(s):
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Certificate Nos. (if available):
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If shares will be delivered by book-entry
Address:
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Transfer, provide the following information:
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Account Number:
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Zip Code:
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Area code and Tel. No.:
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Signature(s):
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Dated: ________________, 2003
GUARANTEE
(NOT TO BE USED FOR SIGNATURE GUARANTEES)
The undersigned is a firm or other entity that is a member in good standing
of a registered national securities exchange, or a member of the National
Association of Securities Dealers, Inc. or a commercial bank or trust company
having an office, branch or agency in the United States and represents that: (a)
the above-named person(s) "own(s)" the shares tendered hereby within the meaning
of Rule 14e-4 promulgated under the Securities Exchange Act of 1934, as amended,
and (b) such tender of shares complies with Rule 14e-4, and guarantees that the
Depositary will receive (i) certificates for the shares tendered hereby in
proper form for transfer, or (ii) confirmation that the shares tendered hereby
have been delivered pursuant to the procedure for book-entry transfer (set forth
in Section 3 of the Offer to Purchase) into the Depositary's account at The
Depository Trust Company, together with a properly completed and duly executed
Letter of Transmittal (or a manually signed facsimile of it), or an Agent's
Message (as described in the Offer to Purchase), and any other documents
required by the Letter of Transmittal, all within three trading days after the
date the Depositary receives this Notice of Guaranteed Delivery.
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The Eligible Institution that completes this form must communicate the
guarantee to the Depositary and must deliver the Letter of Transmittal and
certificates representing shares to the Depositary within the time period set
forth herein. Failure to do so could result in financial loss to such Eligible
Institution.
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Name of Firm:
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Authorized Signature:
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Address:
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Title:
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Name:
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Zip Code:
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Please Type or Print:
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Area Code and Tel. No.:
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Dated: ________________, 2003
DO NOT SEND SHARE CERTIFICATES WITH THIS NOTICE OF GUARANTEED DELIVERY. SHARE
CERTIFICATES SHOULD BE SENT WITH YOUR LETTER OF TRANSMITTAL
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