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Accounts Payable and Accrued Liabilities | 9 Months Ended
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Sep. 30, 2025
Payables and Accruals [Abstract] |
Accounts Payable and Accrued Liabilities | NOTE 5 — ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The following table summarizes accounts payable and accrued liabilities as of September 30, 2025 and December 31, 2024:
| September 30, 2025 |  | December 31, 2024
| (in millions)
Accounts payable, including $23 and $17, respectively, due to related parties | $ | 291 |  |  | $ | 236 |
Reserve for returns and cancellations | 109 |  |  | 75 |
Sales taxes and vehicle licenses and fees | 94 |  |  | 87 |
Accrued compensation and benefits | 87 |  |  | 92 |
Accrued insurance | 81 |  |  | 63 |
Accrued interest expense | 53 |  |  | 96 |
Trade floor plan payables | 50 |  |  | — |
Customer deposits | 49 |  |  | 63 |
Accrued advertising costs | 25 |  |  | 18 |
Other accrued liabilities | 173 |  |  | 126 |
Total accounts payable and accrued liabilities | $ | 1,012 |  |  | $ | 856 |
In connection with the franchise dealership acquisitions, the Company entered into a Master Loan and Security Agreement (the "Trade Floor Plan Facility") with Stellantis Financial Services, Inc. ("SFS") to finance certain of our purchases of its new vehicle inventory, and such financed inventory secures the Trade Floor Plan Facility. The line of credit under the Trade Floor Plan Facility is $99 million, allocated among sub-advance limits for each dealership location and type of vehicle inventory, and the interest rate is based on one-month term SOFR plus an applicable margin, which ranges from 2.25% to 3.25% depending on the relative amount of retail sales funded by SFS. Under the Trade Floor Plan Facility, repayment of amounts drawn for the purchase of a vehicle should generally be made within several days after selling or otherwise disposing of the vehicle. Outstanding principal balances related to vehicles held in inventory for more than 11 months are due in full on the first day of the 12th month after a vehicle was initially financed. Prepayments may be made without incurring a premium or penalty. The Trade Floor Plan Facility also requires monthly interest payments and a minimum $15 million restricted cash balance.

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- Definition The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 720 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483384/720-30-45-1 + Details
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