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DEBT
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
DEBT DEBT
Non-Recourse Notes Payable
In 2025, we issued $564.0 million in non-recourse notes payable related to asset-backed term funding transactions.
Below is a summary of outstanding non-recourse notes payable issued:
($ in millions)
Balance as of
March 31, 2025
Initial Principal
Amount
Issuance Date
Interest Rate
Range
Final Distribution
Date
LAD Auto Receivables Trust 2021-1
Class A-D
$34.1
$344.4
11/24/21
2.35% to 3.99%
Various dates through
Nov 2029
LAD Auto Receivables Trust 2022-1
Class A-C
65.9
298.1
08/17/22
5.21% to 6.85%
Various dates through
Apr 2030
LAD Auto Receivables Trust 2023-1
Class A-D
148.3
479.7
02/14/23
5.48% to 7.30%
Various dates through
Jun 2030
LAD Auto Receivables Trust 2023-2
Class A-D
210.3
556.7
05/24/23
5.42% to 6.30%
Various dates through
Feb 2031
LAD Auto Receivables Trust 2023-3
Class A-D
190.8
415.4
08/23/23
5.95% to 6.92%
Various dates through
Dec 2030
LAD Auto Receivables Trust 2023-4
Class A-D
215.9
421.2
11/15/23
6.10% to 7.37%
Various dates through
Apr 2031
LAD Auto Receivables Trust 2024-1
Class A-D
193.6
329.4
02/14/24
5.17% to 6.15%
Various dates through
Jun 2031
LAD Auto Receivables Trust 2024-2
Class A-D
285.7
$409.6
06/20/24
5.46% to 6.37%
Various dates through
Oct 2031
LAD Auto Receivables Trust 2024-3
Class A-D
494.8
$614.9
11/15/24
4.52% to 5.18%
Various dates through
Feb 2032
LAD Auto Receivables Trust 2025-1
Class A-D
$524.3
$564.0
02/12/25
4.51% to 5.52%
Various dates through
May 2032
Total non-recourse notes payable
$2,363.7
$4,433.4