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DEBT (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024
New vehicle floor plan			6.54%
Used vehicle floor plan			6.84%
Service loaner floor plan			6.64%
Revolving line of credit			6.44%

The annual interest rates associated with our floor plan commitments are as follows:

Commitment			Annual Interest Rate at March 31, 2024
Wholesale flooring facility			6.05%
Used vehicle flooring facility			6.30%
Daily rental facility			6.25%
Wholesale leasing facility			6.35%
Working capital revolving facility			6.30%

Schedule of Long-Term Debt Instruments

In 2024, we issued $329.4 million 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 March 31, 2024

Initial Principal Amount

Issuance Date

Interest Rate Range

Final Distribution Date

LAD Auto Receivables Trust 2021-1 Class A-D

82.6

$

344.4

11/24/21

1.30% to 3.99%

Various dates through Nov 2029

LAD Auto Receivables Trust 2022-1 Class A-C

131.6

298.1

08/17/22

5.21% to 6.85%

Various dates through Apr 2030

LAD Auto Receivables Trust 2023-1 Class A-D

279.0

479.7

02/14/23

5.48% to 7.30%

Various dates through Jun 2030

LAD Auto Receivables Trust 2023-2 Class A-D

362.5

556.7

05/24/23

5.42% to 6.30%

Various dates through Feb 2031

LAD Auto Receivables Trust 2023-3 Class A-D

316.9

415.4

08/23/23

5.95% to 6.92%

Various dates through Dec 2030

LAD Auto Receivables Trust 2023-4 Class A-D

352.4

421.2

11/15/23

6.10% to 7.37%

Various dates through Apr 2031

LAD Auto Receivables Trust 2024-1 Class A-D

306.5

329.4

02/14/24

5.17% to 6.15%

Various dates through Jun 2031

Total non-recourse notes payable

$

1,831.5

$

2,844.9

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