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DEBT (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, 2024
New vehicle floor plan | 6.16%
Used vehicle floor plan | 6.46%
Service loaner floor plan | 6.26%
Revolving line of credit | 6.31%
The annual interest rates associated with our floor plan commitments are as follows:
Commitment | Annual Interest Rate at September 30, 2024
Wholesale flooring facility | 5.30%
Used vehicle flooring facility | 5.55%
Daily rental facility | 5.50%
Wholesale leasing facility | 5.60%
Working capital revolving facility | 5.55%
Schedule of Long-Term Debt Instruments | Below is a summary of outstanding non-recourse notes payable issued:
($ in millions) | Balance as of September 30, 2024 | Initial Principal Amount | Issuance Date | Interest Rate Range | Final Distribution Date
LAD Auto Receivables Trust 2021-1 Class A-D | $ | 56.5 |  | $ | 344.4 |  | 11/24/21 | 1.94% to 3.99% | Various dates through Nov 2029
LAD Auto Receivables Trust 2022-1 Class A-C | 96.4 |  | 298.1 |  | 08/17/22 | 5.21% to 6.85% | Various dates through Apr 2030
LAD Auto Receivables Trust 2023-1 Class A-D | 208.9 |  | 479.7 |  | 02/14/23 | 5.48% to 7.30% | Various dates through Jun 2030
LAD Auto Receivables Trust 2023-2 Class A-D | 283.3 |  | 556.7 |  | 05/24/23 | 5.42% to 6.30% | Various dates through Feb 2031
LAD Auto Receivables Trust 2023-3 Class A-D | 251.8 |  | 415.4 |  | 08/23/23 | 5.95% to 6.92% | Various dates through Dec 2030
LAD Auto Receivables Trust 2023-4 Class A-D | 281.4 |  | 421.2 |  | 11/15/23 | 6.10% to 7.37% | Various dates through Apr 2031
LAD Auto Receivables Trust 2024-1 Class A-D | 248.4 |  | 329.4 |  | 02/14/24 | 5.17% to 6.15% | Various dates through Jun 2031
LAD Auto Receivables Trust 2024-2 Class A-D | 356.3 |  | $ | 409.6 |  | 06/20/24 | 5.46% to 6.37% | Various dates through Oct 2031
Total non-recourse notes payable | $ | 1,783.0 |  | $ | 3,254.5 |  |  |  |

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