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DEBT (Tables) | 3 Months Ended
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Mar. 31, 2023
Debt Disclosure [Abstract] |
Schedule of Line of Credit Facilities | The annual interest rates associated with our floor plan commitments are as follows:
Commitment | Annual Interest Rate at March 31, 2023
New vehicle floor plan | 6.07%
Used vehicle floor plan | 6.37%
Service loaner floor plan | 6.07%
Revolving line of credit | 5.97%
Schedule of Long-Term Debt Instruments | In February 2023, we issued approximately $480 million in non-recourse notes payable related to the asset-backed term funding transaction. Below is a summary of outstanding non-recourse notes payable issued:
($ in millions) | Balance as of March 31, 2023 | Initial Principal Amount | Issuance Date | Interest Rate | Final Distribution Date
LAD Auto Receivables Trust 2021-1 Class A | $ | 92.7 |  | $ | 282.8 |  | 11/24/21 | 1.300% | 08/17/26
LAD Auto Receivables Trust 2021-1 Class B | 18.3 |  | 18.3 |  | 11/24/21 | 1.940% | 11/16/26
LAD Auto Receivables Trust 2021-1 Class C | 26.0 |  | 26.0 |  | 11/24/21 | 2.350% | 04/15/27
LAD Auto Receivables Trust 2021-1 Class D | 17.2 |  | 17.2 |  | 11/24/21 | 3.990% | 11/15/29
LAD Auto Receivables Trust 2022-1 Class A | 182.0 |  | 259.7 |  | 08/17/22 | 5.210% | 06/15/27
LAD Auto Receivables Trust 2022-1 Class B | 15.5 |  | 15.5 |  | 08/17/22 | 5.870% | 09/15/27
LAD Auto Receivables Trust 2022-1 Class C | 23.0 |  | 23.0 |  | 08/17/22 | 6.850% | 04/15/30
LAD Auto Receivables Trust 2023-1 Class A-1 | 46.2 |  | 75.1 |  | 02/14/23 | 4.929% | 02/15/24
LAD Auto Receivables Trust 2023-1 Class A-2 | 242.0 |  | 242.0 |  | 02/14/23 | 5.680% | 10/15/26
LAD Auto Receivables Trust 2023-1 Class A-3 | 74.4 |  | 74.4 |  | 02/14/23 | 5.480% | 06/15/27
LAD Auto Receivables Trust 2023-1 Class B | 20.1 |  | 20.1 |  | 02/14/23 | 5.590% | 08/16/27
LAD Auto Receivables Trust 2023-1 Class C | 36.7 |  | 36.7 |  | 02/14/23 | 6.180% | 12/15/27
LAD Auto Receivables Trust 2023-1 Class D | 31.3 |  | 31.3 |  | 02/14/23 | 7.300% | 06/17/30
Total non-recourse notes payable | $ | 825.4 |  | $ | 1,122.1 |  |  |  |

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