The preliminary ratings assigned to Credit Acceptance Auto Loan Trust 2022-1's (CAALT 2022-1) asset-backed notes reflect: The availability of approximately 64.0%, 52.8%, 44.4%, and 42.2% (64.3%, 53.2%, 44.8%, and 42.6% if upsized) credit support for the class A, B, C, and D notes, respectively, which is based on stressed cash flow scenarios, including excess spread, in respect of the installment sales contracts. These provide coverage of approximately 3.2x, 2.6x, 2.2x, and 2.1x (3.2x, 2.7x, 2.2x, and 2.1x if upsized) our 19.75%-20.25% expected cumulative net loss range, as a percentage of the performing retail installment sales contracts, for the class A, B, C, and D notes, respectively. The credit support levels are commensurate with the assigned preliminary 'AAA (sf)', 'AA (sf)',