15. Subsequent Events	12 Months Ended
Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	*(15) Subsequent Events* On January 16, 2018 we executed our first securitization of 2018. In the transaction, qualified institutional buyers purchased $190.0 million of asset-backed notes secured by $193.6 million in automobile receivables purchased by us. The sold notes, issued by CPS Auto Receivables Trust 2018-A, consist of five classes. Ratings of the notes were provided by Standard & Poor’s, and DBRS and were based on the structure of the transaction, the historical performance of similar receivables and our experience as a servicer. The weighted average yield on the notes is approximately 3.46%. The 2018-A transaction has initial credit enhancement consisting of a cash deposit equal to 1.00% of the original receivable pool balance. The final enhancement level requires accelerated payment of principal on the notes to reach overcollateralization of the lesser of 6.80% of the original receivable pool balance, or 18.50% of the then outstanding pool balance. The transaction utilizes a pre-funding structure, in which CPS sold approximately $121.3 million of receivables on January 16, 2018 and sold $72.3 million of additional receivables on February 9, 2018. The transaction was a private offering of securities, not registered under the Securities Act of 1933, or any state securities law. In January 2018 the Company adopted the fair value method of accounting for finance receivables acquired after 2017. Under fair value, direct originations cost will not be deferred and there will be no allowance for credit losses associated with these receivables. The Company will make estimates regarding expected finance charge revenue, and the timing and magnitude of credit losses, to establish the fair value of the receivables on a quarterly basis, with changes in fair value recorded through the statement of income. In addition, the fair value may be impacted by market conditions.

15. Subsequent Events

12 Months Ended

Dec. 31, 2017

(15) Subsequent Events

On January 16, 2018 we executed our first securitization of 2018. In the transaction, qualified institutional buyers purchased $190.0 million of asset-backed notes secured by $193.6 million in automobile receivables purchased by us. The sold notes, issued by CPS Auto Receivables Trust 2018-A, consist of five classes. Ratings of the notes were provided by Standard & Poor’s, and DBRS and were based on the structure of the transaction, the historical performance of similar receivables and our experience as a servicer. The weighted average yield on the notes is approximately 3.46%.

The 2018-A transaction has initial credit enhancement consisting of a cash deposit equal to 1.00% of the original receivable pool balance. The final enhancement level requires accelerated payment of principal on the notes to reach overcollateralization of the lesser of 6.80% of the original receivable pool balance, or 18.50% of the then outstanding pool balance. The transaction utilizes a pre-funding structure, in which CPS sold approximately $121.3 million of receivables on January 16, 2018 and sold $72.3 million of additional receivables on February 9, 2018. The transaction was a private offering of securities, not registered under the Securities Act of 1933, or any state securities law.

In January 2018 the Company adopted the fair value method of accounting for finance receivables acquired after 2017. Under fair value, direct originations cost will not be deferred and there will be no allowance for credit losses associated with these receivables. The Company will make estimates regarding expected finance charge revenue, and the timing and magnitude of credit losses, to establish the fair value of the receivables on a quarterly basis, with changes in fair value recorded through the statement of income. In addition, the fair value may be impacted by market conditions.