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Subsequent Events | 9 Months Ended
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Sep. 30, 2025
Subsequent Events [Abstract] |
Subsequent Events | (11) Subsequent Events On October 17, 2025, we closed a new two-year $167.5 million revolving credit agreement with Capital One, N.A. The credit facility includes a subordinate lender, in which it will provide effective advances up to 10% of eligible finance receivables, effectively increasing the advance rate up to 95.5% across the facility. The revolving period for this facility will extend to October 2027 followed by an amortization period through April 2028 for any receivables pledged at the end of the revolving period. On October 23, 2025, we executed our fourth securitization of 2025. In the transaction, qualified institutional buyers purchased $384.6 million of asset-backed notes secured by $392.5 million in automobile receivables originated by CPS. The sold notes, issued by CPS Auto Receivables Trust 2025-D, consist of five classes. Ratings of the notes were provided by Standard & Poor’s and DBRS Morningstar, and were based on the structure of the transaction, the historical performance of similar receivables and CPS’s experience as a servicer. The weighted average yield on the notes is approximately 5.72%.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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