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DEBT (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2023
New vehicle floor plan | 6.16%
Used vehicle floor plan | 6.56%
Service loaner floor plan | 6.26%
Revolving line of credit | 6.06%
Schedule of Long-Term Debt Instruments | In 2023, we issued approximately $1.0 billion in non-recourse notes payable related to asset-backed term funding transactions. Below is a summary of outstanding non-recourse notes payable issued:
($ in millions) | Balance as of June 30, 2023 | Initial Principal Amount | Issuance Date | Interest Rate | Final Distribution Date
LAD Auto Receivables Trust 2021-1 Class A | $ | 71.8 |  | $ | 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 | 155.9 |  | 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 | — |  | 75.1 |  | 02/14/23 | 4.929% | 02/15/24
LAD Auto Receivables Trust 2023-1 Class A-2 | 239.1 |  | 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
LAD Auto Receivables Trust 2023-2 Class A-1 | 48.4 |  | 87.4 |  | 05/24/23 | 5.440% | 05/15/24
LAD Auto Receivables Trust 2023-2 Class A-2 | 287.0 |  | 287.0 |  | 05/24/23 | 5.930% | 06/15/27
LAD Auto Receivables Trust 2023-2 Class A-3 | 80.0 |  | 80.0 |  | 05/24/23 | 5.420% | 02/15/28
LAD Auto Receivables Trust 2023-2 Class B | 22.9 |  | 22.9 |  | 05/24/23 | 5.450% | 04/15/28
LAD Auto Receivables Trust 2023-2 Class C | 54.7 |  | 54.7 |  | 05/24/23 | 5.580% | 09/15/28
LAD Auto Receivables Trust 2023-2 Class D | 24.8 |  | 24.8 |  | 05/24/23 | 6.300% | 02/15/31
Total non-recourse notes payable | $ | 1,247.1 |  | $ | 1,678.9 |  |  |  |

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