Consumer Portfolio Services (CPSS) 10-Q 28 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 23, 2014
Document And Entity Information	'	'
Entity Registrant Name	'CONSUMER PORTFOLIO SERVICES INC	'
Entity Central Index Key	'0000889609	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	25,287,048
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

UNAUDITED_CONDENSED_CONSOLIDAT

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$14,426	$22,112
Restricted cash and equivalents	154,902	132,284
Finance receivables	1,312,745	1,155,063
Less: Allowance for finance credit losses	-53,326	-39,626
Finance receivables, net	1,259,419	1,115,437
Finance receivables measured at fair value	5,686	14,476
Residual interest in securitizations	260	854
Furniture and equipment, net	1,006	766
Deferred financing costs	10,923	11,071
Deferred tax assets, net	51,550	59,215
Accrued interest receivable	19,500	18,670
Other assets	23,402	21,481
Total	1,541,074	1,396,366
LIABILITIES AND SHAREHOLDERS' EQUITY	'	'
Accounts payable and accrued expenses	24,252	24,839
Warehouse lines of credit	41,290	9,452
Residual interest financing	14,079	19,096
Debt secured by receivables measured at fair value	5,392	13,117
Securitization trust debt	1,326,319	1,177,559
Senior secured debt, related party	0	38,559
Subordinated renewable notes	18,038	19,142
Total	1,429,370	1,301,764
COMMITMENTS AND CONTINGENCIES	'	'
Shareholders' Equity	'	'
Common stock, no par value; authorized 75,000,000 shares; 24,755,456 and 24,015,585 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively	76,793	73,422
Retained earnings	36,006	22,275
Accumulated other comprehensive loss	-1,095	-1,095
Total	111,704	94,602
Total	1,541,074	1,396,366
Series A Preferred Stock [Member]	'	'
Shareholders' Equity	'	'
Preferred stock, $1 par value; authorized 4,998,130 shares; none issued Series A preferred stock, $1 par value; authorized 5,000,000 shares; none issued Series B preferred stock, $1 par value; authorized 1,870 shares; none issued	0	0
Series B Preferred Stock [Member]	'	'
Shareholders' Equity	'	'
Preferred stock, $1 par value; authorized 4,998,130 shares; none issued Series A preferred stock, $1 par value; authorized 5,000,000 shares; none issued Series B preferred stock, $1 par value; authorized 1,870 shares; none issued	$0	$0

UNAUDITED_CONDENSED_CONSOLIDAT1

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Shareholders' Equity	'	'
Preferred Stock, Par Value	$1	$1
Preferred Stock, Authorized	4,998,130	4,998,130
Preferred Stock, Issued	0	0
Preferred Stock, Outstanding	0	0
Common Stock, Par Value	$0	$0
Common Stock, Authorized	75,000,000	75,000,000
Common Stock, Issued	25,150,102	24,015,585
Common Stock, Outstanding	25,150,102	24,015,585
Series A Preferred Stock [Member]	'	'
Shareholders' Equity	'	'
Preferred Stock, Par Value	$1	$1
Preferred Stock, Authorized	5,000,000	5,000,000
Preferred Stock, Issued	0	0
Preferred Stock, Outstanding	0	0
Series B Preferred Stock [Member]	'	'
Shareholders' Equity	'	'
Preferred Stock, Par Value	$1	$1
Preferred Stock, Authorized	1,870	1,870
Preferred Stock, Issued	0	0
Preferred Stock, Outstanding	0	0

UNAUDITED_CONDENSED_CONSOLIDAT2

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenues:	'	'	'	'
Interest income	$68,221	$55,797	$133,217	$106,964
Servicing fees	367	876	880	1,784
Other income	3,006	2,862	5,643	5,380
Gain on cancellation of debt	0	10,947	0	10,947
Total	71,594	70,482	139,740	125,075
Expenses:	'	'	'	'
Employee costs	11,774	11,527	22,664	20,476
General and administrative	5,075	4,518	8,678	8,272
Interest	11,942	14,601	25,323	30,947
Provision for credit losses	25,627	17,371	49,508	32,519
Provision for contingent liabilities	0	9,650	0	9,650
Marketing	3,812	3,472	7,658	6,654
Occupancy	908	683	1,595	1,226
Depreciation and amortization	127	114	221	257
Total	59,265	61,936	115,647	110,001
Income before income tax expense	12,329	8,546	24,093	15,074
Income tax expense	5,303	3,721	10,362	6,464
Net income	$7,026	$4,825	$13,731	$8,610
Income per share:	'	'	'	'
Basic	$0.28	$0.23	$0.56	$0.42
Diluted	$0.22	$0.15	$0.43	$0.27
Number of shares used in computing income per share:	'	'	'	'
Basic	25,029	20,989	24,694	20,534
Diluted	32,002	31,788	32,009	31,709

UNAUDITED_CONDENSED_CONSOLIDAT3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Unaudited Condensed Consolidated Statements Of Comprehensive Income	'	'	'	'
Net income	$7,026	$4,825	$13,731	$8,610
Other comprehensive income/(loss); change in funded status of pension plan	0	0	0	0
Comprehensive income	$7,026	$4,825	$13,731	$8,610

UNAUDITED_CONDENSED_CONSOLIDAT4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net income	$13,731	$8,610
Accretion of deferred acquisition fees	-8,922	-10,309
Accretion of purchase discount on receivables measured at fair value	-353	-984
Amortization of discount on securitization trust debt	76	502
Amortization of discount on senior secured debt, related party	623	1,370
Accretion of premium on debt secured by receivables measured at fair value	490	1,556
Mark to fair value on debt secured by receivables at fair value	339	-497
Mark to fair value of receivables measured at fair value	8	613
Depreciation and amortization	221	257
Amortization of deferred financing costs	3,384	1,196
Provision for credit losses	49,508	32,519
Provision for contingent liabilities	0	9,650
Stock-based compensation expense	1,459	1,820
Interest income on residual assets	-236	0
Gain on cancellation of debt	0	-10,947
Changes in assets and liabilities:	'	'
Accrued interest receivable	-830	-2,494
Deferred tax assets, net	7,665	5,669
Other assets	708	-977
Accounts payable and accrued expenses	-587	2,819
Net cash provided by operating activities	67,284	40,373
Cash flows from investing activities:	'	'
Purchases of finance receivables held for investment	-401,266	-383,898
Payments received on finance receivables held for investment	216,698	166,625
Payments on receivables portfolio at fair value	9,135	29,720
Proceeds received on residual interest in securitizations	830	2,578
Change in repossessions in inventory	-2,629	-580
Decreases (increases) in restricted cash and cash equivalents, net	-22,618	-18,419
Purchase of furniture and equipment	-461	-77
Net cash used in investing activities	-200,311	-204,051
Cash flows from financing activities:	'	'
Proceeds from issuance of securitization trust debt	382,500	390,000
Proceeds from issuance of subordinated renewable notes	260	1,027
Payments on subordinated renewable notes	-1,364	-1,739
Net proceeds from (repayments of) warehouse lines of credit	31,838	-4,587
Proceeds from (repayments of) residual interest financing debt	-5,017	20,000
Repayment of securitization trust debt	-233,816	-188,165
Repayment of debt secured by receivables measured at fair value	-8,554	-32,544
Repayment of senior secured debt, related party	-39,182	-12,137
Payment of financing costs	-3,236	-3,240
Repurchase of common stock	0	-1,138
Exercise of options and warrants	1,912	1,819
Net cash provided by financing activities	125,341	169,296
Increase (decrease) in cash and cash equivalents	-7,686	5,618
Cash and cash equivalents at beginning of period	22,112	12,966
Cash and cash equivalents at end of period	14,426	18,584
Cash paid during the period for:	'	'
Interest	23,289	25,612
Income taxes	2,514	1,695
Non-cash financing activities:	'	'
Derivative warrants reclassified from accounts payable to common stock	$0	$583

1_Summary_of_Significant_Accou

1. Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Description of Business
	We were formed in California on March 8, 1991. We specialize in purchasing and servicing retail automobile installment sale contracts (“automobile contracts” or “finance receivables”) originated by licensed motor vehicle dealers located throughout the United States (“dealers”) in the sale of new and used automobiles, light trucks and passenger vans. Through our purchases, we provide indirect financing to dealer customers for borrowers with limited credit histories, low incomes or past credit problems (“sub-prime customers”). We serve as an alternative source of financing for dealers, allowing sales to customers who otherwise might not be able to obtain financing. In addition to purchasing installment purchase contracts directly from dealers, we have also (i) acquired installment purchase contracts in four merger and acquisition transactions, (ii) purchased immaterial amounts of vehicle purchase money loans from non-affiliated lenders, and (iii) lent money directly to consumers for an immaterial amount of loans secured by vehicles. In this report, we refer to all of such contracts and loans as "automobile contracts."
	Basis of Presentation
	Our Unaudited Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America, with the instructions to Form 10-Q and with Article 10 of Regulation S-X of the Securities and Exchange Commission, and include all adjustments that are, in management’s opinion, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are, in the opinion of management, of a normal recurring nature. Results for the six-month period ended June 30, 2014 are not necessarily indicative of the operating results to be expected for the full year.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted from these Unaudited Condensed Consolidated Financial Statements. These Unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2013.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements, as well as the reported amounts of income and expenses during the reported periods. Specifically, a number of estimates were made in connection with determining an appropriate allowance for finance credit losses, determining appropriate reserves for contingent liabilities, valuing finance receivables measured at fair value and the related debt, valuing residual interest in securitizations, accreting net acquisition fees, amortizing deferred costs, valuing stock options and warrants issued, and recording deferred tax assets and reserves for uncertain tax positions. These are material estimates that could be susceptible to changes in the near term and, accordingly, actual results could differ from those estimates.
	Other Income
	The following table presents the primary components of Other Income for the three-month and six-month periods ending June 30, 2014 and 2013:
		Three Months Ended					Six Months Ended
		June 30,					June 30,
		2014			2013		2014			2013
		(In thousands)					(In thousands)
	Direct mail revenues	$	2,171		$	1,963	$	4,023		$	3,727
	Convenience fee revenue	$	800			828		1,610			1,515
	Recoveries on previously charged-off contracts	$	48			54		83			104
	Sales tax refunds	$	129			–		231			84
	Other	$	(142	)		17		(304	)		(50	)
	Other income for the period	$	3,006		$	2,862	$	5,643		$	5,380
	Stock-based Compensation
	We recognize compensation costs in the financial statements for all share-based payments based on the grant date fair value estimated in accordance with the provisions of ASC 718 “Stock Compensation”.
	For the six months ended June 30, 2014 and 2013, we recorded stock-based compensation costs in the amount of $1.5 million and $1.8 million, respectively. As of June 30, 2014, unrecognized stock-based compensation costs to be recognized over future periods equaled $10.9 million. This amount will be recognized as expense over a weighted-average period of 3.2 years.
	The following represents stock option activity for the six months ended June 30, 2014:
							Weighted
		Number of			Weighted		Average
		Shares			Average		Remaining
		(in thousands)			Exercise Price		Contractual Term
	Options outstanding at the beginning of period		10,128		$	3.3	N/A
	Granted		–			–	N/A
	Exercised		(978	)		2.22	N/A
	Forfeited		(103	)		4.58	N/A
	Options outstanding at the end of period		9,047		$	3.41	6.34 years
	Options exercisable at the end of period		5,841		$	2.49	5.30 years
	At June 30, 2014, the aggregate intrinsic value of options outstanding and exercisable was $38.6 million and $30.1 million, respectively. There were 978,000 options exercised for the three months ended June 30, 2014 compared to 394,000 for the comparable period in 2013. There were 4.1 million shares available for future stock option grants under existing plans as of June 30, 2014.
	Purchases of Company Stock
	During the six-month period ended June 30, 2014 and 2013, we re-purchased 73,788 and 118,544 shares, respectively, of our common stock, at average prices of $7.91 and $9.60, respectively. All purchases were related to net exercises of outstanding options and warrants. In transactions during the six-month period ended June 30, 2014, the holder of options and warrants to purchase 395,000 shares of our common stock paid the aggregate $583,000 exercise price by surrender to us of 73,788 of such 395,000 shares. There were no open market purchases of our common stock.
	New Accounting Pronouncements
	In May 2014, the FASB issued an update (ASU No. 2014-09, Revenue from Contracts with Customers) creating FASB Topic 606, Revenue from Contracts with Customers.  The guidance in this update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts).  The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  The guidance provides steps to follow to achieve the core principle.  An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers.  Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract.  The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2016.  We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements.
	Reclassifications
	Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or total shareholders’ equity.
	Financial Covenants
	Certain of our securitization transactions, our warehouse credit facilities and our residual interest financing contain various financial covenants requiring minimum financial ratios and results. Such covenants include maintaining minimum levels of liquidity and net worth and not exceeding maximum leverage levels. As of June 30, 2014, we were in compliance with all such covenants. In addition, certain securitization and non-securitization related debt agreements contain cross-default provisions that would allow certain creditors to declare a default if a default occurred under a different facility.
	Finance Receivables and Related Debt Measured at Fair Value
	In September 2011 we purchased approximately $217.8 million of finance receivables from Fireside Bank. These receivables and the related acquisition debt are recorded on our balance sheet at fair value. There are no level 1 or level 2 inputs (as described by ASC 820) available to us for measurement of such receivables, or for the related debt. Our level 3, unobservable inputs reflect our own assumptions about the factors that market participants use in pricing similar receivables and debt, and are based on the best information available in the circumstances. The valuation method used to estimate fair value may produce a fair value measurement that may not be indicative of ultimate realizable value. Furthermore, while we believe our valuation methods are appropriate and consistent with those used by other market participants, the use of different methods or assumptions to estimate the fair value of certain financial instruments could result in different estimates of fair value. Those estimated values may differ significantly from the values that would have been used had a readily available market for such receivables or debt existed, or had such receivables or debt been liquidated, and those differences could be material to the financial statements.
	Gain on Cancellation of Debt
	In April 2013, we repurchased the outstanding Class D notes issued by our first 2008 securitization trust, for a cash payment of $6.1 million and a new 5% note for $5.3 million due in June 2014. The Class D notes were held by the same related party that held our senior secured debt. On the date we repurchased the Class D notes, the Class D note holder owned 10.5% of our outstanding common stock. We subsequently exercised our “clean-up call” option and repurchased the remaining collateral from the related securitization trust. The aggregate value of our consideration given for the Class D notes was $10.9 million less than our carrying value of the Class D notes at the time of the repurchase. As a result of the repurchase of the Class D notes and the termination of the securitization trust, we realized a gain of $10.9 million for the three-month and six-month periods ended June 30, 2013.
	Provision for Contingent Liabilities
	We are routinely involved in various legal proceedings resulting from our consumer finance activities and practices, both continuing and discontinued. Our legal counsel has advised us on such matters where, based on information available at the time of this report, there is an indication that it is both probable that a liability has been incurred and the amount of the loss can be reasonably determined.
	In June 2013, we recognized $9.7 million in contingent liability expenses to either record or increase the amounts we believed represented our best estimate of probable incurred losses related to various matters. The amount was allocated in part to a long running case we refer to as the Stanwich litigation, and also to more recent matters. The more recent matters included two California class action suits where we are the defendant, and a governmental inquiry, in which the United States Federal Trade Commission (“FTC”) had informally proposed that we refrain from certain allegedly unfair trade practices, and make restitutionary payments into a consumer relief fund. In May 2014, the FTC announced its agreement to settle the matter by filing a lawsuit against us, and requesting, with our consent, that the court enter an agreed judgment against us. The lawsuit arose out of the FTC’s inquiry into our business practices. Under the agreed settlement, we will make approximately $1.9 million of restitutionary payments and $1.6 million of account adjustments to and for our customers, pay a $2 million penalty to the federal government, and implement procedural changes, all pursuant to a consent decree which has since been entered by the court. The cost to us of the payments, adjustments and penalty is within the contingency reserve that we recorded in June 2013 with respect to this matter. The $2 million penalty was paid in June 2014.
	We have recorded a liability as of June 30, 2014, which represents our best estimate of probable incurred losses for legal contingencies. The amount of losses that may ultimately be incurred cannot be estimated with certainty.

2_Finance_Receivables

2. Finance Receivables	6 Months Ended
	Jun. 30, 2014
Finance Receivables	'
Finance Receivables	'
	Our portfolio of finance receivables consists of small-balance homogeneous contracts comprising a single segment and class that is collectively evaluated for impairment on a portfolio basis according to delinquency status. Our contract purchase guidelines are designed to produce a homogenous portfolio. For key terms such as interest rate, length of contract, monthly payment and amount financed, there is relatively little variation from the average for the portfolio. We report delinquency on a contractual basis. Once a contract becomes greater than 90 days delinquent, we do not recognize additional interest income until the obligor under the contract makes sufficient payments to be less than 90 days delinquent. Any payments received on a contract that is greater than 90 days delinquent are first applied to accrued interest and then to principal reduction.
	The following table presents the components of Finance Receivables, net of unearned interest:
		June 30,			December 31,
		2014			2013
	Finance Receivables	(In thousands)
	Automobile finance receivables, net of unearned interest	$	1,334,938		$	1,182,950
	Less: Unearned acquisition fees and originations costs	$	(22,193	)	$	(27,887	)
	Finance Receivables	$	1,312,745		$	1,155,063
	We consider an automobile contract delinquent when an obligor fails to make at least 90% of a contractually due payment by the following due date, which date may have been extended within limits specified in the servicing agreements. The period of delinquency is based on the number of days payments are contractually past due, as extended where applicable. Automobile contracts less than 31 days delinquent are not included. In certain circumstances we will grant obligors one-month payment extensions to assist them with temporary cash flow problems. The only modification of terms is to advance the obligor’s next due date by one month and extend the maturity date of the receivable by one month. In certain limited cases, a two-month extension may be granted. There are no other concessions such as a reduction in interest rate, forgiveness of principal or of accrued interest. Accordingly, we consider such extensions to be insignificant delays in payments rather than troubled debt restructurings. The following table summarizes the delinquency status of finance receivables as of June 30, 2014 and December 31, 2013:
		June 30,			December 31,
		2014			2013
		(In thousands)
	Deliquency Status
	Current	$	1,279,716		$	1,125,926
	31 - 60 days	$	30,946			21,421
	61 - 90 days	$	17,040			24,663
	91 + days	$	7,236			10,940
		$	1,334,938		$	1,182,950
	Finance receivables totaling $7.2 million and $10.9 million at June 30, 2014 and December 31, 2013, respectively, including all receivables greater than 90 days delinquent, have been placed on non-accrual status as a result of their delinquency status.
	We use a loss allowance methodology commonly referred to as "static pooling," which stratifies our finance receivable portfolio into separately identified pools based on the period of origination. Using analytical and formula driven techniques, we estimate an allowance for finance credit losses, which we believe is adequate for probable incurred credit losses that can be reasonably estimated in our portfolio of automobile contracts. The estimate for probable incurred credit losses is reduced by our estimate for future recoveries on previously incurred losses. Provision for losses is charged to our consolidated statement of operations. Net losses incurred on finance receivables are charged to the allowance. We establish the allowance for new receivables over the 12-month period following their acquisition.
	The following table presents a summary of the activity for the allowance for finance credit losses for the three-month and six-month periods ended June 30, 2014 and 2013:
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
		(In thousands)						(In thousands)
	Balance at beginning of period	$	44,652		$	24,881		$	39,626		$	19,594
	Provision for credit losses on finance receivables	$	25,627			17,371			49,508			32,519
	Charge-offs	$	(26,985	)		(13,361	)		(50,526	)		(26,277	)
	Recoveries	$	10,032			3,210			14,718			6,265
	Balance at end of period	$	53,326		$	32,101		$	53,326		$	32,101
	Excluded from finance receivables are contracts that were previously classified as finance receivables but were reclassified as other assets because we have repossessed the vehicle securing the Contract. The following table presents a summary of such repossessed inventory together with the allowance for losses in repossessed inventory that is not included in the allowance for finance credit losses:
		June 30,			December 31,
		2014			2013
		(In thousands)
	Gross balance of repossessions in inventory	$	28,884		$	24,743
	Allowance for losses on repossessed inventory	$	(16,291	)		(14,779	)
	Net repossessed inventory included in other assets	$	12,593		$	9,964

3_Finance_Receivables_Measured

3. Finance Receivables Measured at Fair Value	6 Months Ended
	Jun. 30, 2014
Finance Receivables Measured At Fair Value	'
Finance Receivables Measured at Fair Value	'
	In September 2011 we purchased approximately $217.8 million of finance receivables from Fireside Bank. These receivables are recorded on our balance sheet at fair value.
	The following table presents the components of Finance Receivables measured at fair value:
		June 30,		December 31,
		2014		2013
	Finance Receivables Measured at Fair Value	(In thousands)
	Finance receivables and accrued interest, net of unearned interest	$	5,651	$	14,786
	Less: Fair value adjustment	$	35	$	(310	)
	Finance receivables measured at fair value	$	5,686	$	14,476
	The following table summarizes the delinquency status of finance receivables measured at fair value as of June 30, 2014 and December 31, 2013:
		June 30,		December 31,
		2014		2013
		(In thousands)
	Deliquency Status
	Current	$	4,999	$	13,421
	31 - 60 days	$	425		878
	61 - 90 days	$	177		253
	91 + days	$	50		234
		$	5,651	$	14,786

4_Securitization_Trust_Debt

4. Securitization Trust Debt	6 Months Ended
	Jun. 30, 2014
Securitization Trust Debt	'
Securitization Trust Debt	'
	We have completed many securitization transactions that are structured as secured borrowings for financial accounting purposes. The debt issued in these transactions is shown on our Unaudited Condensed Consolidated Balance Sheets as “Securitization trust debt,” and the components of such debt are summarized in the following table:
												Weighted
												Average
												Contractual
			Final	Receivables				Outstanding		Outstanding		Interest
			Scheduled	Pledged at				Principal at		Principal at		Rate at
			Payment	June 30,		Initial		June 30,		December 31,		June 30,
	Series		Date (1)	2014 (2)		Principal		2014		2013		2014
			(Dollars in thousands)
	Page Five Funding		Jan-18	$	7,304	$	46,058	$	5,520	$	9,358		9.28%
	CPS 2011-A		Apr-18		19,474		104,546		15,614		24,526		3.02%
	CPS 2011-B		Sep-18		32,820		111,046		32,334		44,433		4.57%
	CPS 2011-C		Mar-19		42,112		119,400		41,886		56,271		4.95%
	CPS 2012-A		Jun-19		49,549		155,000		48,973		65,051		3.48%
	CPS 2012-B		Sep-19		66,795		141,500		66,597		86,254		3.18%
	CPS 2012-C		Dec-19		72,712		147,000		72,357		93,006		2.51%
	CPS 2012-D		Mar-20		87,755		160,000		87,321		108,815		2.17%
	CPS 2013-A		Jun-20		123,386		185,000		121,607		142,842		1.99%
	CPS 2013-B		Sep-20		147,989		205,000		143,120		172,499		2.41%
	CPS 2013-C		Dec-20		166,129		205,000		162,872		191,504		2.55%
	CPS 2013-D		Mar-21		161,439		183,000		157,707		183,000		2.29%
	CPS 2014-A		Jun-21		170,667		180,000		167,911		–		1.92%
	CPS 2014-B (3)		Sep-21		129,681		202,500		202,500		–		1.77%
				$	1,277,812	$	2,145,050	$	1,326,319	$	1,177,559
	_________________
	-1	The Final Scheduled Payment Date represents final legal maturity of the securitization trust debt. Securitization trust debt is expected to become due and to be paid prior to those dates, based on amortization of the finance receivables pledged to the trusts. Expected payments, which will depend on the performance of such receivables, as to which there can be no assurance, are $268.7 million in 2014, $470.3 million in 2015, $313.0 million in 2016, $177.4 million in 2017, $78.8 million in 2018 and $18.1 million in 2019.
	-2	Includes repossessed assets that are included in Other assets on our Unaudited Condensed Consolidated Balance Sheet.
	-3	An additional $71.1 million of receivables were pledged to CPS 2014-B in July 2014.
	All of the securitization trust debt was sold in private placement transactions to qualified institutional buyers. The debt was issued through our wholly-owned bankruptcy remote subsidiaries and is secured by the assets of such subsidiaries, but not by our other assets.
	The terms of the securitization agreements related to the issuance of the securitization trust debt and the warehouse credit facilities require that we meet certain delinquency and credit loss criteria with respect to the pool of receivables, and certain of the agreements require that we maintain minimum levels of liquidity and not exceed maximum leverage levels. In addition, certain securitization and non-securitization related debt contain cross-default provisions, which would allow certain creditors to declare a default if a default were declared under a different facility. As of June 30, 2014, we were in compliance with all such covenants.
	We are responsible for the administration and collection of the automobile contracts. The securitization agreements also require certain funds be held in restricted cash accounts to provide additional collateral for the borrowings, to be applied to make payments on the securitization trust debt or as pre-funding proceeds from a term securitization prior to the purchase of additional collateral. As of June 30, 2014, restricted cash under the various agreements totaled approximately $154.9 million, of which $71.1 million represented pre-funding proceeds. Interest expense on the securitization trust debt consists of the stated rate of interest plus amortization of additional costs of borrowing. Additional costs of borrowing include facility fees, amortization of deferred financing costs and discounts on notes sold. Deferred financing costs and discounts on notes sold related to the securitization trust debt are amortized using a level yield method. Accordingly, the effective cost of the securitization trust debt is greater than the contractual rate of interest disclosed above.
	Our wholly-owned bankruptcy remote subsidiaries were formed to facilitate the above asset-backed financing transactions. Similar bankruptcy remote subsidiaries issue the debt outstanding under our credit facilities. Bankruptcy remote refers to a legal structure in which it is expected that the applicable entity would not be included in any bankruptcy filing by its parent or affiliates. All of the assets of these subsidiaries have been pledged as collateral for the related debt. All such transactions, treated as secured financings for accounting and tax purposes, are treated as sales for all other purposes, including legal and bankruptcy purposes. None of the assets of these subsidiaries are available to pay other creditors.

5_Debt

5. Debt	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Debt	'
	The terms and amounts of our other debt outstanding at June 30, 2014 and December 31, 2013 are summarized below:
				Amount Outstanding at
				June 30,		December 31,
				2014		2013
				(In thousands)
	Description	Interest Rate	Maturity
	Warehouse lines of credit	5.73% over one month Libor (Minimum 6.73%)	Mar-17	$	23,172	$	9,452
		6.00% over one month Libor (Minimum 6.75%)	Jun-16		18,118		–
	Residual interest financing	11.75% over one month Libor	Apr-18		14,079		19,096
	Debt secured by receivables measured at fair value	n/a	Repayment is based on payments from underlying receivables. Final payment of the 8.00% loan was made in September 2013, with residual payments extending through 2016		5,392		13,117
	Senior secured debt, related party	13.00%	n/a		–		37,128
		5.00%	n/a		–		1,431
	Subordinated renewable notes	Weighted average rate of 12.1% and 12.5% at June 30, 2014 and December 31, 2013 , respectively	Weighted average maturity of December 2015 and July 2015 at June 30, 2014 and December 31, 2013, respectively		18,038		19,142
				$	78,799	$	99,366
	In January and March 2014 we prepaid, without penalty, $10 million and $28.4 million, respectively, of senior secured debt, related party. The debt was scheduled to mature in June 2014.

6_Interest_Income_and_Interest

6. Interest Income and Interest Expense	6 Months Ended
	Jun. 30, 2014
Interest Income And Interest Expense	'
Interest Income and Interest Expense	'
	The following table presents the components of interest income:
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
		(In thousands)				(In thousands)
	Interest on finance receivables	$	68,098	$	55,796	$	132,980	$	106,954
	Residual interest income	$	123		–		236		–
	Other interest income	$	–		1		1		10
	Interest income	$	68,221	$	55,797	$	133,217	$	106,964
	The following table presents the components of interest expense:
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
		(In thousands)				(In thousands)
	Securitization trust debt	$	9,381	$	8,230	$	18,697	$	17,368
	Warehouse lines of credit	$	1,238		1,297		2,115		2,579
	Senior secured debt, related party	$	–		2,112		1,651		4,875
	Debt secured by receivables at fair value	$	205		1,027		533		2,813
	Residual interest financing	$	504		1,094		1,083		1,586
	Subordinated renewable notes	$	614		841		1,244		1,726
	Interest expense	$	11,942	$	14,601	$	25,323	$	30,947

7_Earnings_Per_Share

7. Earnings Per Share	6 Months Ended
	Jun. 30, 2014
Income per share:	'
Earnings Per Share	'
	Earnings per share for the three-month and six-month periods ended June 30, 2014 and 2013 were calculated using the weighted average number of shares outstanding for the related period. The following table reconciles the number of shares used in the computations of basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2014 and 2013:
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
		(In thousands)				(In thousands)
	Weighted average number of common shares outstanding during the period used to compute basic earnings per share		25,029		20,989		24,694		20,534
	Incremental common shares attributable to exercise of outstanding options and warrants		6,973		10,799		7,315		11,175
	Weighted average number of common shares used to compute diluted earnings per share		32,002		31,788		32,009		31,709
	If the anti-dilutive effects of common stock equivalents were considered, shares included in the diluted earnings per share calculation for the three-month and six-month periods ended June 30, 2014 would have included an additional 2.6 million shares attributable to the exercise of outstanding options and warrants. For the three-month and six-month periods ended June 30, 2013, the anti-dilutive shares were 2.2 million and 1.5 million, respectively.

8_Income_Taxes

8. Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	We file numerous consolidated and separate income tax returns with the United States and with many states. With few exceptions, we are no longer subject to U.S. federal, state, or local examinations by tax authorities for years before 2010.
	As of June 30, 2014 and December 31, 2013, we had no unrecognized tax benefits for uncertain tax positions. We do not anticipate that total unrecognized tax benefits will significantly change due to any settlements of audits or expirations of statutes of limitations over the next 12 months.
	The Company and its subsidiaries file a consolidated federal income tax return and combined or stand-alone state franchise tax returns for certain states. We utilize the asset and liability method of accounting for income taxes, under which deferred income taxes are recognized for the future tax consequences attributable to the differences between the financial statement values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date.
	Deferred tax assets are recognized subject to management’s judgment that realization is more likely than not. A valuation allowance is recognized for a deferred tax asset if, based on the weight of the available evidence, it is more likely than not that some portion of the deferred tax asset will not be realized. In making such judgments, significant weight is given to evidence that can be objectively verified. Although realization is not assured, we believe that the realization of the recognized net deferred tax asset of $51.6 million as of June 30, 2014 is more likely than not based on forecasted future net earnings. Our net deferred tax asset of $51.6 million consists of approximately $40.2 million of net U.S. federal deferred tax assets and $11.4 million of net state deferred tax assets. We estimate that we would need to generate approximately $120 million of taxable income during the applicable carryforward periods to realize fully our federal and state net deferred tax assets.
	Income tax expense was $5.3 million and $10.4 million for the three months and six months ended June 30, 2014 and represents an effective income tax rate of 43%, compared to income tax expense of $3.7 million and $6.5 million for the three months and six months ended June 30, 2013, representing effective income tax rates of 44% and 43%, respectively.

9_Legal_Proceedings

9. Legal Proceedings	6 Months Ended
	Jun. 30, 2014
Legal Proceedings	'
Legal Proceedings	'
	Stanwich Litigation. We were for several years a defendant in a class action (the “Stanwich Case”) brought in the California Superior Court, Los Angeles County. The original plaintiffs in that case were persons entitled to receive regular payments (the “Settlement Payments”) pursuant to earlier settlements of claims, generally personal injury claims, against unrelated defendants. Stanwich Financial Services Corp. (“Stanwich”), an affiliate of the former chairman of our board of directors, is the entity that was obligated to pay the Settlement Payments. Stanwich defaulted on its payment obligations to the plaintiffs and in June 2001 filed for reorganization under the Bankruptcy Code, in the federal bankruptcy court in Connecticut. By February 2005, we had settled all claims brought against us in the Stanwich Case.
	In November 2001, one of the defendants in the Stanwich Case, Jonathan Pardee, asserted claims for indemnity against us in a separate action, which is now pending in federal district court in Rhode Island. We have filed counterclaims in the Rhode Island federal court against Mr. Pardee, and have filed a separate action against Mr. Pardee's Rhode Island attorneys, in the same court. The litigation between Mr. Pardee and us was stayed for several years through September 2011, awaiting resolution of an adversary action brought against Mr. Pardee in the bankruptcy court, which is hearing the bankruptcy of Stanwich.
	Pursuant to an agreement with the representative of creditors in the Stanwich bankruptcy, that adversary action has been dismissed. Under that agreement, we paid the bankruptcy estate $800,000 and abandoned our claims against the estate, while the estate has abandoned its adversary action against Mr. Pardee. With the dismissal of the adversary action, all known claims asserted against Mr. Pardee have been resolved without his incurring any liability. Accordingly, we believe that this resolution of the adversary action will result in limitation of our exposure to Mr. Pardee to no more than some portion of his attorneys fees incurred. The stay in the action against us in Rhode Island has been lifted, and both we and Mr. Pardee filed motions for summary judgment. The court ruled on those motions in February 2013, denying our motion, and granting Mr. Pardee’s motion as to liability. The matter has been set for trial, to commence September 9, 2014. The issues remaining for trial are the extent of our obligation to indemnify Mr. Pardee.
	Consumer Litigation. We are routinely involved in various legal proceedings resulting from our consumer finance activities and practices, both continuing and discontinued. Consumers can and do initiate lawsuits against us alleging violations of law applicable to collection of receivables, and such lawsuits sometimes allege that resolution as a class action is appropriate. We are currently defending two such purported class actions, one of which has been settled by agreement with the plaintiffs (such settlement remains subject to approval by the court). For the most part, we have legal and factual defenses to such claims, which we routinely contest or settle (for immaterial amounts) depending on the particular circumstances of each case. We have recorded a liability as of June 30, 2014 with respect to such matters, in the aggregate.
	FTC Action. In July 2013, the staff of the U.S. Federal Trade Commission (“FTC”) advised us that they were prepared to recommend that the FTC initiate a lawsuit against us relating to allegedly unfair trade practices, and simultaneously advised that settlement of such issues by consent decree might be achieved. On May 29, 2014, the FTC announced its agreement to settle the matter by filing a lawsuit against us, and requesting, with our consent, that the court enter an agreed judgment against us. The lawsuit arose out of the FTC’s inquiry into our business practices. Under the agreed settlement, we will make approximately $1.9 million of restitutionary payments and $1.6 million of account adjustments to and for our customers, pay a $2 million penalty to the federal government, and implement procedural changes, all pursuant to a consent decree which has since been entered by the court. The cost to us of the payments, adjustments and penalty is within the contingency reserve that we previously recorded with respect to this matter. The $2 million penalty was paid in June 2014.
	In General. There can be no assurance as to the outcomes of the matters referenced above. We have recorded a liability as of June 30, 2014, which represents our best estimate of probable incurred losses for legal contingencies, including all of the matters described or referenced above. The amount of losses that may ultimately be incurred cannot be estimated with certainty. However, based on such information as is available to us, we believe that the range of reasonably possible losses for the legal proceedings and contingencies described or referenced above, as of June 30, 2014, and in excess of the liability we have recorded, is from $0 to $1.2 million.
	Accordingly, we believe that the ultimate resolution of such legal proceedings and contingencies, after taking into account our current litigation reserves, should not have a material adverse effect on our consolidated financial condition. We note, however, that in light of the uncertainties inherent in contested proceedings, there can be no assurance that the ultimate resolution of these matters will not significantly exceed the reserves we have accrued; as a result, the outcome of a particular matter may be material to our operating results for a particular period, depending on, among other factors, the size of the loss or liability imposed and the level of our income for that period.

10_Employee_Benefits

10. Employee Benefits	6 Months Ended
	Jun. 30, 2014
Employee Benefits	'
Employee Benefits	'
	On March 8, 2002 we acquired MFN Financial Corporation and its subsidiaries in a merger. We sponsor the MFN Financial Corporation Benefit Plan (the “Plan”). Plan benefits were frozen June 30, 2001. The table below sets forth the Plan’s net periodic benefit cost for the three-month and six-month periods ended June 30, 2014 and 2013.
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
		(In thousands)						(In thousands)
	Components of net periodic cost (benefit)
	Service cost	$	–		$	–		$	–		$	–
	Interest cost	$	220			210		$	440			420
	Expected return on assets	$	(432	)		(335	)	$	(864	)		(670	)
	Amortization of transition (asset)/obligation	$	–			–		$	–			–
	Amortization of net (gain)/loss	$	–			117		$	–			234
	Net periodic cost (benefit)	$	(212	)	$	(8	)	$	(424	)	$	(16	)
	We contributed $112,000 to the Plan during the six-month period ended June 30, 2014 and we do not anticipate making any further contributions for the remainder of 2014.

11_Fair_Value_Measurements

11. Fair Value Measurements	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Measurements	'
	ASC 820, "Fair Value Measurements" clarifies the principle that fair value should be based on the assumptions market participants would use when pricing an asset or liability and establishes a fair value hierarchy that prioritizes the information used to develop those assumptions. Under the standard, fair value measurements would be separately disclosed by level within the fair value hierarchy.
	ASC 820 defines fair value, establishes a framework for measuring fair value, establishes a three-level valuation hierarchy for disclosure of fair value measurement and enhances disclosure requirements for fair value measurements. The three levels are defined as follows: level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets; level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and level 3 – inputs to the valuation methodology are unobservable and significant to the fair value measurement.
	In September 2008 we sold automobile contracts in a securitization that was structured as a sale for financial accounting purposes. In that sale, we retained both securities and a residual interest in the transaction that are measured at fair value. In September 2010 we took advantage of improvement in the market for asset-backed securities by re-securitizing the underlying receivables from our unrated September 2008 securitization. We also sold the securities retained from the September 2008 transaction. No gain or loss was recorded as a result of the re-securitization transaction described above. We describe below the valuation methodologies we use for the securities retained and the residual interest in the cash flows of the transaction, as well as the general classification of such instruments pursuant to the valuation hierarchy. The residual interest in such securitization is $260,000 as of June 30, 2014 and $854,000 as of December 31, 2013 and is classified as level 3 in the three-level valuation hierarchy. We determine the value of that residual interest using a discounted cash flow model that includes estimates for prepayments and losses. We used a discount rate of 20% per annum and a cumulative net loss rate of 15% at June 30, 2014 and December 31, 2013. The assumptions we used are based on historical performance of automobile contracts we have originated and serviced in the past, adjusted for current market conditions.
	In September 2011, we acquired $217.8 million of finance receivables from Fireside Bank for a purchase price of $199.6 million. The receivables were acquired by our wholly-owned special purpose subsidiary, CPS Fender Receivables, LLC, which issued a note for $197.3 million, with a fair value of $196.5 million. Since the Fireside receivables were originated by another entity with its own underwriting guidelines and procedures, we have elected to account for the Fireside receivables and the related debt secured by those receivables at their estimated fair values so that changes in fair value will be reflected in our results of operations as they occur. Interest income from the receivables and interest expense on the note are included in interest income and interest expense, respectively. Changes to the fair value of the receivables and debt are included in other income. Our level 3, unobservable inputs reflect our own assumptions about the factors that market participants use in pricing similar receivables and debt, and are based on the best information available in the circumstances. They include such inputs as estimated net charge-offs and timing of the amortization of the portfolio of finance receivables. Our estimate of the fair value of the Fireside receivables is performed on a pool basis, rather than separately on each individual receivable. The table below presents a reconciliation of the acquired finance receivables and related debt measured at fair value on a recurring basis using significant unobservable inputs:
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
		(in thousands)						(in thousands)
	Finance Receivables Measured at Fair Value:
	Balance at beginning of period	$	9,058		$	43,021		$	14,476		$	59,668
	Payments on finance receivables at fair value		(3,766	)		(11,461	)		(7,873	)		(27,980	)
	Charge-offs on finance receivables at fair value		(213	)		(739	)		(556	)		(1,740	)
	Discount accretion		592			98			(353	)		984
	Mark to fair value	$	15			(600	)		(8	)		(613	)
	Balance at end of period	$	5,686		$	30,319		$	5,686		$	30,319
	Debt Secured by Finance Receivables Measured at Fair Value:
	Balance at beginning of period	$	8,576		$	40,387		$	13,117		$	57,107
	Principal payments on debt at fair value	$	(3,515	)		(14,614	)		(8,554	)		(32,544	)
	Premium accretion	$	186			452			490			1,556
	Mark to fair value	$	145			(603	)		339			(497	)
	Balance at end of period	$	5,392			25,622			5,392			25,622
	Reduction for payments collected and payable		(878	)		(3,715	)		(878	)		(3,715	)
	Adjusted balance at end of period	$	4,514		$	21,907		$	4,514		$	21,907
	The table below compares the fair values of the Fireside receivables and the related secured debt to their contractual balances for the periods shown:
		30-Jun-14						31-Dec-13
		Contractual			Fair			Contractual			Fair
		Balance			Value			Balance			Value
		(In thousands)
	Fireside receivables portfolio	$	5,651		$	5,686		$	14,786		$	14,476
	Debt secured by Fireside receivables portfolio		–			5,392			–			13,117
	The fair value of the debt secured by the Fireside receivables portfolio represents the discounted value of future cash flows that we estimate will become due to the lender in accordance with the terms of our financing for the Fireside portfolio. The terms of the debt provide for the lenders to receive a share of residual cash flows from the underlying receivables after the contractual balance of the debt is repaid and the Company’s investment in the Fireside portfolio is returned.
	Repossessed vehicle inventory, which is included in Other assets on our unaudited condensed consolidated balance sheet, is measured at fair value using level 2 assumptions based on our actual loss experience on sale of repossessed vehicles. At June 30, 2014, the finance receivables related to the repossessed vehicles in inventory totaled $28.9 million. We have applied a valuation adjustment, or loss allowance, of $16.3 million, which is based on a recovery rate of approximately 44%, resulting in an estimated fair value and carrying amount of $12.6 million. The fair value and carrying amount of the repossessed inventory at December 31, 2013 was $10.0 million after applying a valuation adjustment of $14.8 million.
	There were no transfers in or out of level 1 or level 2 assets and liabilities for the three months and six months ended June 30, 2014 and 2013. We have no level 3 assets that are measured at fair value on a non-recurring basis. The table below presents a reconciliation for level 3 assets measured at fair value on a recurring basis using significant unobservable inputs:
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
		(in thousands)						(in thousands)
	Residual Interest in Securitizations:
	Balance at beginning of period	$	445		$	3,505		$	854		$	4,824
	Cash paid (received) during period		(308	)		(1,259	)		(830	)		(2,578	)
	Included in earnings		123			–			236			–
	Balance at end of period	$	260		$	2,246		$	260		$	2,246
	The following table provides certain qualitative information about our level 3 fair value measurements for assets and liabilities carried at fair value:
	Financial Instrument	Fair Values as of									Inputs as of
		June 30,			December 31,			Valuation		Unobservable	June 30,			December 31,
		2014			2013			Techniques		Inputs	2014			2013
		(In thousands)
	Assets:
	Finance receivables	$	5,686		$	14,476		Discounted		Discount rate		15.40%			15.40%
	measured at fair value							cash flows		Cumulative net losses		5.00%			5.00%
										Monthly average prepayments		0.50%			0.50%
	Residual interest in		260			854		Discounted		Discount rate		20.00%			20.00%
	securitizations							cash flows		Cumulative net losses		15.00%			15.00%
										Monthly average prepayments		0.50%			0.50%
	Liabilities:
	Debt secured by receivables	$	5,392			13,117		Discounted		Discount rate		12.20%			12.20%
	measured at fair value							cash flows
	The estimated fair values of financial assets and liabilities at June 30, 2014 and December 31, 2013, were as follows:
		As of June 30, 2014
	Financial Instrument	(In thousands)
		Carrying			Fair Value Measurements Using:
		Value			Level 1			Level 2			Level 3			Total
	Assets:
Cash and cash equivalents	$	14,426		$	14,426		$	–		$	–		$	14,426
Restricted cash and equivalents	$	154,902			154,902		$	–			–			154,902
Finance receivables, net	$	1,259,419			–		$	–			1,244,569			1,244,569
Finance receivables measured at fair value	$	5,686			–		$	–			5,686			5,686
Residual interest in securitizations	$	260			–		$	–			260			260
Accrued interest receivable	$	19,500			–		$	–			19,500			19,500
Liabilities:
Warehouse lines of credit	$	41,290		$	–		$	–		$	41,290		$	41,290
Accrued interest payable	$	3,181			–			–			3,181			3,181
Residual interest financing	$	14,079			–		$	–			14,079			14,079
Debt secured by receivables measured at fair value	$	5,392			–		$	–			5,392			5,392
Securitization trust debt	$	1,326,319			–		$	–			1,364,930			1,364,930
Subordinated renewable notes	$	18,038			–		$	–			18,038			18,038
	As of December 31, 2013
Financial Instrument	(In thousands)
	Carrying			Fair Value Measurements Using:
	Value			Level 1			Level 2			Level 3			Total
Assets:
Cash and cash equivalents	$	22,112		$	22,112		$	–		$	–		$	22,112
Restricted cash and equivalents	$	132,284			132,284		$	–			–			132,284
Finance receivables, net	$	1,115,437			–		$	–			1,100,153			1,100,153
Finance receivables measured at fair value	$	14,476			–		$	–			14,476			14,476
Residual interest in securitizations	$	854			–		$	–			854			854
Accrued interest receivable	$	18,670			–		$	–			18,670			18,670
Liabilities:
Warehouse lines of credit	$	9,452			–		$	–		$	9,452		$	9,452
Accrued interest payable	$	2,908			–			–			2,908			2,908
Residual interest financing	$	19,096			–		$	–			19,096			19,096
Debt secured by receivables measured at fair value	$	13,117			–		$	–			13,117			13,117
Securitization trust debt	$	1,177,559			–		$	–			1,189,086			1,189,086
Senior secured debt, related party	$	38,559			–		$	–			38,559			38,559
Subordinated renewable notes	$	19,142			–		$	–			19,142			19,142
The following summary presents a description of the methodologies and assumptions used to estimate the fair value of our financial instruments. Much of the information used to determine fair value is highly subjective. When applicable, readily available market information has been utilized. However, for a significant portion of our financial instruments, active markets do not exist. Therefore, significant elements of judgment were required in estimating fair value for certain items. The subjective factors include, among other things, the estimated timing and amount of cash flows, risk characteristics, credit quality and interest rates, all of which are subject to change. Since the fair value is estimated as of June 30, 2014 and December 31, 2013, the amounts that will actually be realized or paid at settlement or maturity of the instruments could be significantly different.
Cash, Cash Equivalents and Restricted Cash and Equivalents
The carrying value equals fair value.
Finance Receivables, net
The fair value of finance receivables is estimated by discounting future cash flows expected to be collected using current rates at which similar receivables could be originated.
Finance Receivables Measured at Fair Value and Debt Secured by Receivables Measured at Fair Value
The carrying value equals fair value.
Residual Interest in Securitizations
The fair value is estimated by discounting future cash flows using credit and discount rates that we believe reflect the estimated credit, interest rate and prepayment risks associated with similar types of instruments.
Accrued Interest Receivable and Payable
The carrying value approximates fair value.
Warehouse Lines of Credit, Residual Interest Financing, Senior Secured Debt, Related Party and Subordinated Renewable Notes
The carrying value approximates fair value because the related interest rates are estimated to reflect current market conditions for similar types of secured instruments.
Securitization Trust Debt
The fair value is estimated by discounting future cash flows using interest rates that we believe reflect the current market rates.

1_Summary_of_Significant_Accou1

1. Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Description of Business	'
	We were formed in California on March 8, 1991. We specialize in purchasing and servicing retail automobile installment sale contracts (“automobile contracts” or “finance receivables”) originated by licensed motor vehicle dealers located throughout the United States (“dealers”) in the sale of new and used automobiles, light trucks and passenger vans. Through our purchases, we provide indirect financing to dealer customers for borrowers with limited credit histories, low incomes or past credit problems (“sub-prime customers”). We serve as an alternative source of financing for dealers, allowing sales to customers who otherwise might not be able to obtain financing. In addition to purchasing installment purchase contracts directly from dealers, we have also (i) acquired installment purchase contracts in four merger and acquisition transactions, (ii) purchased immaterial amounts of vehicle purchase money loans from non-affiliated lenders, and (iii) lent money directly to consumers for an immaterial amount of loans secured by vehicles. In this report, we refer to all of such contracts and loans as "automobile contracts."
Basis of Presentation	'
	Our Unaudited Condensed Consolidated Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America, with the instructions to Form 10-Q and with Article 10 of Regulation S-X of the Securities and Exchange Commission, and include all adjustments that are, in management’s opinion, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are, in the opinion of management, of a normal recurring nature. Results for the six-month period ended June 30, 2014 are not necessarily indicative of the operating results to be expected for the full year.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted from these Unaudited Condensed Consolidated Financial Statements. These Unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2013.
Use of Estimates	'
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the financial statements, as well as the reported amounts of income and expenses during the reported periods. Specifically, a number of estimates were made in connection with determining an appropriate allowance for finance credit losses, determining appropriate reserves for contingent liabilities, valuing finance receivables measured at fair value and the related debt, valuing residual interest in securitizations, accreting net acquisition fees, amortizing deferred costs, valuing stock options and warrants issued, and recording deferred tax assets and reserves for uncertain tax positions. These are material estimates that could be susceptible to changes in the near term and, accordingly, actual results could differ from those estimates.
Other Income	'
	The following table presents the primary components of Other Income for the three-month and six-month periods ending June 30, 2014 and 2013:
		Three Months Ended					Six Months Ended
		June 30,					June 30,
		2014			2013		2014			2013
		(In thousands)					(In thousands)
	Direct mail revenues	$	2,171		$	1,963	$	4,023		$	3,727
	Convenience fee revenue	$	800			828		1,610			1,515
	Recoveries on previously charged-off contracts	$	48			54		83			104
	Sales tax refunds	$	129			–		231			84
	Other	$	(142	)		17		(304	)		(50	)
	Other income for the period	$	3,006		$	2,862	$	5,643		$	5,380
Stock-based Compensation	'
	We recognize compensation costs in the financial statements for all share-based payments based on the grant date fair value estimated in accordance with the provisions of ASC 718 “Stock Compensation”.
	For the six months ended June 30, 2014 and 2013, we recorded stock-based compensation costs in the amount of $1.5 million and $1.8 million, respectively. As of June 30, 2014, unrecognized stock-based compensation costs to be recognized over future periods equaled $10.9 million. This amount will be recognized as expense over a weighted-average period of 3.2 years.
	The following represents stock option activity for the six months ended June 30, 2014:
							Weighted
		Number of			Weighted		Average
		Shares			Average		Remaining
		(in thousands)			Exercise Price		Contractual Term
	Options outstanding at the beginning of period		10,128		$	3.3	N/A
	Granted		–			–	N/A
	Exercised		(978	)		2.22	N/A
	Forfeited		(103	)		4.58	N/A
	Options outstanding at the end of period		9,047		$	3.41	6.34 years
	Options exercisable at the end of period		5,841		$	2.49	5.30 years
	At June 30, 2014, the aggregate intrinsic value of options outstanding and exercisable was $38.6 million and $30.1 million, respectively. There were 978,000 options exercised for the three months ended June 30, 2014 compared to 394,000 for the comparable period in 2013. There were 4.1 million shares available for future stock option grants under existing plans as of June 30, 2014.
Purchases of Company Stock	'
	During the six-month period ended June 30, 2014 and 2013, we re-purchased 73,788 and 118,544 shares, respectively, of our common stock, at average prices of $7.91 and $9.60, respectively. All purchases were related to net exercises of outstanding options and warrants. In transactions during the six-month period ended June 30, 2014, the holder of options and warrants to purchase 395,000 shares of our common stock paid the aggregate $583,000 exercise price by surrender to us of 73,788 of such 395,000 shares. There were no open market purchases of our common stock.
New Accounting Pronouncements	'
	In May 2014, the FASB issued an update (ASU No. 2014-09, Revenue from Contracts with Customers) creating FASB Topic 606, Revenue from Contracts with Customers.  The guidance in this update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts).  The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.  The guidance provides steps to follow to achieve the core principle.  An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers.  Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract.  The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2016.  We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements.
Reclassifications	'
	Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior year net income or total shareholders’ equity.
Financial Covenants	'
	Certain of our securitization transactions, our warehouse credit facilities and our residual interest financing contain various financial covenants requiring minimum financial ratios and results. Such covenants include maintaining minimum levels of liquidity and net worth and not exceeding maximum leverage levels. As of June 30, 2014, we were in compliance with all such covenants. In addition, certain securitization and non-securitization related debt agreements contain cross-default provisions that would allow certain creditors to declare a default if a default occurred under a different facility.
Finance Receivables and Related Debt Measured at Fair Value	'
	In September 2011 we purchased approximately $217.8 million of finance receivables from Fireside Bank. These receivables and the related acquisition debt are recorded on our balance sheet at fair value. There are no level 1 or level 2 inputs (as described by ASC 820) available to us for measurement of such receivables, or for the related debt. Our level 3, unobservable inputs reflect our own assumptions about the factors that market participants use in pricing similar receivables and debt, and are based on the best information available in the circumstances. The valuation method used to estimate fair value may produce a fair value measurement that may not be indicative of ultimate realizable value. Furthermore, while we believe our valuation methods are appropriate and consistent with those used by other market participants, the use of different methods or assumptions to estimate the fair value of certain financial instruments could result in different estimates of fair value. Those estimated values may differ significantly from the values that would have been used had a readily available market for such receivables or debt existed, or had such receivables or debt been liquidated, and those differences could be material to the financial statements.
Gain on Cancellation of Debt	'
	In April 2013, we repurchased the outstanding Class D notes issued by our first 2008 securitization trust, for a cash payment of $6.1 million and a new 5% note for $5.3 million due in June 2014. The Class D notes were held by the same related party that held our senior secured debt. On the date we repurchased the Class D notes, the Class D note holder owned 10.5% of our outstanding common stock. We subsequently exercised our “clean-up call” option and repurchased the remaining collateral from the related securitization trust. The aggregate value of our consideration given for the Class D notes was $10.9 million less than our carrying value of the Class D notes at the time of the repurchase. As a result of the repurchase of the Class D notes and the termination of the securitization trust, we realized a gain of $10.9 million for the three-month and six-month periods ended June 30, 2013.
Provision for Contingent Liabilities	'
	Provision for Contingent Liabilities
	We are routinely involved in various legal proceedings resulting from our consumer finance activities and practices, both continuing and discontinued. Our legal counsel has advised us on such matters where, based on information available at the time of this report, there is an indication that it is both probable that a liability has been incurred and the amount of the loss can be reasonably determined.
	In June 2013, we recognized $9.7 million in contingent liability expenses to either record or increase the amounts we believed represented our best estimate of probable incurred losses related to various matters. The amount was allocated in part to a long running case we refer to as the Stanwich litigation, and also to more recent matters. The more recent matters included two California class action suits where we are the defendant, and a governmental inquiry, in which the United States Federal Trade Commission (“FTC”) had informally proposed that we refrain from certain allegedly unfair trade practices, and make restitutionary payments into a consumer relief fund. In May 2014, the FTC announced its agreement to settle the matter by filing a lawsuit against us, and requesting, with our consent, that the court enter an agreed judgment against us. The lawsuit arose out of the FTC’s inquiry into our business practices. Under the agreed settlement, we will make approximately $1.9 million of restitutionary payments and $1.6 million of account adjustments to and for our customers, pay a $2 million penalty to the federal government, and implement procedural changes, all pursuant to a consent decree which has since been entered by the court. The cost to us of the payments, adjustments and penalty is within the contingency reserve that we recorded in June 2013 with respect to this matter. The $2 million penalty was paid in June 2014.
	We have recorded a liability as of June 30, 2014, which represents our best estimate of probable incurred losses for legal contingencies. The amount of losses that may ultimately be incurred cannot be estimated with certainty.

1_Summary_of_Significant_Accou2

1. Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2014
Accounting Policies [Abstract]	'
Other Income	'
		Three Months Ended					Six Months Ended
		June 30,					June 30,
		2014			2013		2014			2013
		(In thousands)					(In thousands)
	Direct mail revenues	$	2,171		$	1,963	$	4,023		$	3,727
	Convenience fee revenue	$	800			828		1,610			1,515
	Recoveries on previously charged-off contracts	$	48			54		83			104
	Sales tax refunds	$	129			–		231			84
	Other	$	(142	)		17		(304	)		(50	)
	Other income for the period	$	3,006		$	2,862	$	5,643		$	5,380
Stock option activity	'
							Weighted
		Number of			Weighted		Average
		Shares			Average		Remaining
		(in thousands)			Exercise Price		Contractual Term
	Options outstanding at the beginning of period		10,128		$	3.3	N/A
	Granted		–			–	N/A
	Exercised		(978	)		2.22	N/A
	Forfeited		(103	)		4.58	N/A
	Options outstanding at the end of period		9,047		$	3.41	6.34 years
	Options exercisable at the end of period		5,841		$	2.49	5.30 years

2_Finance_Receivables_Tables

2. Finance Receivables (Tables)	6 Months Ended
	Jun. 30, 2014
Finance Receivables	'
Financial Receivables	'
		June 30,			December 31,
		2014			2013
	Finance Receivables	(In thousands)
	Automobile finance receivables, net of unearned interest	$	1,334,938		$	1,182,950
	Less: Unearned acquisition fees and originations costs	$	(22,193	)	$	(27,887	)
	Finance Receivables	$	1,312,745		$	1,155,063
Delinquency status of finance receivables	'
		June 30,			December 31,
		2014			2013
		(In thousands)
	Deliquency Status
	Current	$	1,279,716		$	1,125,926
	31 - 60 days	$	30,946			21,421
	61 - 90 days	$	17,040			24,663
	91 + days	$	7,236			10,940
		$	1,334,938		$	1,182,950
Allowance for credit losses	'
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
		(In thousands)						(In thousands)
	Balance at beginning of period	$	44,652		$	24,881		$	39,626		$	19,594
	Provision for credit losses on finance receivables	$	25,627			17,371			49,508			32,519
	Charge-offs	$	(26,985	)		(13,361	)		(50,526	)		(26,277	)
	Recoveries	$	10,032			3,210			14,718			6,265
	Balance at end of period	$	53,326		$	32,101		$	53,326		$	32,101
Allowance for losses on repossessed inventory	'
		June 30,			December 31,
		2014			2013
		(In thousands)
	Gross balance of repossessions in inventory	$	28,884		$	24,743
	Allowance for losses on repossessed inventory	$	(16,291	)		(14,779	)
	Net repossessed inventory included in other assets	$	12,593		$	9,964

3_Finance_Receivables_Measured1

3. Finance Receivables Measured at Fair Value (Tables)	6 Months Ended
	Jun. 30, 2014
Finance Receivables Measured At Fair Value	'
Finance Receivables measured at fair value	'
		June 30,		December 31,
		2014		2013
	Finance Receivables Measured at Fair Value	(In thousands)
	Finance receivables and accrued interest, net of unearned interest	$	5,651	$	14,786
	Less: Fair value adjustment	$	35	$	(310	)
	Finance receivables measured at fair value	$	5,686	$	14,476
Delinquency status of finance receivables measured at fair value	'
		June 30,		December 31,
		2014		2013
		(In thousands)
	Deliquency Status
	Current	$	4,999	$	13,421
	31 - 60 days	$	425		878
	61 - 90 days	$	177		253
	91 + days	$	50		234
		$	5,651	$	14,786

4_Securitization_Trust_Debt_Ta

4. Securitization Trust Debt (Tables)	6 Months Ended
	Jun. 30, 2014
Securitization Trust Debt	'
Securitization trust debt	'
											Weighted
											Average
											Contractual
		Final	Receivables				Outstanding		Outstanding		Interest
		Scheduled	Pledged at				Principal at		Principal at		Rate at
		Payment	June 30,		Initial		June 30,		December 31,		June 30,
	Series	Date (1)	2014 (2)		Principal		2014		2013		2014
		(Dollars in thousands)
	Page Five Funding	Jan-18	$	7,304	$	46,058	$	5,520	$	9,358		9.28%
	CPS 2011-A	Apr-18		19,474		104,546		15,614		24,526		3.02%
	CPS 2011-B	Sep-18		32,820		111,046		32,334		44,433		4.57%
	CPS 2011-C	Mar-19		42,112		119,400		41,886		56,271		4.95%
	CPS 2012-A	Jun-19		49,549		155,000		48,973		65,051		3.48%
	CPS 2012-B	Sep-19		66,795		141,500		66,597		86,254		3.18%
	CPS 2012-C	Dec-19		72,712		147,000		72,357		93,006		2.51%
	CPS 2012-D	Mar-20		87,755		160,000		87,321		108,815		2.17%
	CPS 2013-A	Jun-20		123,386		185,000		121,607		142,842		1.99%
	CPS 2013-B	Sep-20		147,989		205,000		143,120		172,499		2.41%
	CPS 2013-C	Dec-20		166,129		205,000		162,872		191,504		2.55%
	CPS 2013-D	Mar-21		161,439		183,000		157,707		183,000		2.29%
	CPS 2014-A	Jun-21		170,667		180,000		167,911		–		1.92%
	CPS 2014-B (3)	Sep-21		129,681		202,500		202,500		–		1.77%
			$	1,277,812	$	2,145,050	$	1,326,319	$	1,177,559

5_Debt_Tables

5. Debt (Tables)	6 Months Ended
	Jun. 30, 2014
Debt Disclosure [Abstract]	'
Debt Outstanding	'
				Amount Outstanding at
				June 30,		December 31,
				2014		2013
				(In thousands)
	Description	Interest Rate	Maturity
	Warehouse lines of credit	5.73% over one month Libor (Minimum 6.73%)	Mar-17	$	23,172	$	9,452
		6.00% over one month Libor (Minimum 6.75%)	Jun-16		18,118		–
	Residual interest financing	11.75% over one month Libor	Apr-18		14,079		19,096
	Debt secured by receivables measured at fair value	n/a	Repayment is based on payments from underlying receivables. Final payment of the 8.00% loan was made in September 2013, with residual payments extending through 2016		5,392		13,117
	Senior secured debt, related party	13.00%	n/a		–		37,128
		5.00%	n/a		–		1,431
	Subordinated renewable notes	Weighted average rate of 12.1% and 12.5% at June 30, 2014 and December 31, 2013 , respectively	Weighted average maturity of December 2015 and July 2015 at June 30, 2014 and December 31, 2013, respectively		18,038		19,142
				$	78,799	$	99,366

6_Interest_Income_and_Interest1

6. Interest Income and Interest Expense (Tables)	6 Months Ended
	Jun. 30, 2014
Interest Income And Interest Expense Tables	'
Interest income	'
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
		(In thousands)				(In thousands)
	Interest on finance receivables	$	68,098	$	55,796	$	132,980	$	106,954
	Residual interest income	$	123		–		236		–
	Other interest income	$	–		1		1		10
	Interest income	$	68,221	$	55,797	$	133,217	$	106,964
Interest expense	'
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
		(In thousands)				(In thousands)
	Securitization trust debt	$	9,381	$	8,230	$	18,697	$	17,368
	Warehouse lines of credit	$	1,238		1,297		2,115		2,579
	Senior secured debt, related party	$	–		2,112		1,651		4,875
	Debt secured by receivables at fair value	$	205		1,027		533		2,813
	Residual interest financing	$	504		1,094		1,083		1,586
	Subordinated renewable notes	$	614		841		1,244		1,726
	Interest expense	$	11,942	$	14,601	$	25,323	$	30,947

7_Earnings_Per_Share_Tables

7. Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2014
Income per share:	'
Computation of basic and diluted earnings per share	'
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2014		2013		2014		2013
		(In thousands)				(In thousands)
	Weighted average number of common shares outstanding during the period used to compute basic earnings per share		25,029		20,989		24,694		20,534
	Incremental common shares attributable to exercise of outstanding options and warrants		6,973		10,799		7,315		11,175
	Weighted average number of common shares used to compute diluted earnings per share		32,002		31,788		32,009		31,709

10_Employee_Benefits_Tables

10. Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2014
Employee Benefits	'
Net periodic cost (benefit)	'
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
		(In thousands)						(In thousands)
	Components of net periodic cost (benefit)
	Service cost	$	–		$	–		$	–		$	–
	Interest cost	$	220			210		$	440			420
	Expected return on assets	$	(432	)		(335	)	$	(864	)		(670	)
	Amortization of transition (asset)/obligation	$	–			–		$	–			–
	Amortization of net (gain)/loss	$	–			117		$	–			234
	Net periodic cost (benefit)	$	(212	)	$	(8	)	$	(424	)	$	(16	)

11_Fair_Value_Measurements_Tab

11. Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Reconciliation of the acquired finance receivables and related debt measured at fair value on a recurring basis	'
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
		(in thousands)						(in thousands)
	Finance Receivables Measured at Fair Value:
	Balance at beginning of period	$	9,058		$	43,021		$	14,476		$	59,668
	Payments on finance receivables at fair value		(3,766	)		(11,461	)		(7,873	)		(27,980	)
	Charge-offs on finance receivables at fair value		(213	)		(739	)		(556	)		(1,740	)
	Discount accretion		592			98			(353	)		984
	Mark to fair value	$	15			(600	)		(8	)		(613	)
	Balance at end of period	$	5,686		$	30,319		$	5,686		$	30,319
	Debt Secured by Finance Receivables Measured at Fair Value:
	Balance at beginning of period	$	8,576		$	40,387		$	13,117		$	57,107
	Principal payments on debt at fair value	$	(3,515	)		(14,614	)		(8,554	)		(32,544	)
	Premium accretion	$	186			452			490			1,556
	Mark to fair value	$	145			(603	)		339			(497	)
	Balance at end of period	$	5,392			25,622			5,392			25,622
	Reduction for payments collected and payable		(878	)		(3,715	)		(878	)		(3,715	)
	Adjusted balance at end of period	$	4,514		$	21,907		$	4,514		$	21,907
Comparision of fair values of the Fireside receivables and the related secured debt	'
		30-Jun-14						31-Dec-13
		Contractual			Fair			Contractual			Fair
		Balance			Value			Balance			Value
		(In thousands)
	Fireside receivables portfolio	$	5,651		$	5,686		$	14,786		$	14,476
	Debt secured by Fireside receivables portfolio		–			5,392			–			13,117
Reconciliation for level 3 assets	'
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2014			2013			2014			2013
		(in thousands)						(in thousands)
	Residual Interest in Securitizations:
	Balance at beginning of period	$	445		$	3,505		$	854		$	4,824
	Cash paid (received) during period		(308	)		(1,259	)		(830	)		(2,578	)
	Included in earnings		123			–			236			–
	Balance at end of period	$	260		$	2,246		$	260		$	2,246
Qualitative information about level 3 fair value measurements	'
	Financial Instrument	Fair Values as of									Inputs as of
		June 30,			December 31,			Valuation		Unobservable	June 30,			December 31,
		2014			2013			Techniques		Inputs	2014			2013
		(In thousands)
	Assets:
	Finance receivables	$	5,686		$	14,476		Discounted		Discount rate		15.40%			15.40%
	measured at fair value							cash flows		Cumulative net losses		5.00%			5.00%
										Monthly average prepayments		0.50%			0.50%
	Residual interest in		260			854		Discounted		Discount rate		20.00%			20.00%
	securitizations							cash flows		Cumulative net losses		15.00%			15.00%
										Monthly average prepayments		0.50%			0.50%
	Liabilities:
	Debt secured by receivables	$	5,392			13,117		Discounted		Discount rate		12.20%			12.20%
	measured at fair value							cash flows
Estimated fair values of financial assets and liabilities	'
		As of June 30, 2014
	Financial Instrument	(In thousands)
		Carrying			Fair Value Measurements Using:
		Value			Level 1			Level 2			Level 3			Total
	Assets:
	Cash and cash equivalents	$	14,426		$	14,426		$	–		$	–		$	14,426
	Restricted cash and equivalents	$	154,902			154,902		$	–			–			154,902
	Finance receivables, net	$	1,259,419			–		$	–			1,244,569			1,244,569
	Finance receivables measured at fair value	$	5,686			–		$	–			5,686			5,686
	Residual interest in securitizations	$	260			–		$	–			260			260
	Accrued interest receivable	$	19,500			–		$	–			19,500			19,500
	Liabilities:
	Warehouse lines of credit	$	41,290		$	–		$	–		$	41,290		$	41,290
	Accrued interest payable	$	3,181			–			–			3,181			3,181
	Residual interest financing	$	14,079			–		$	–			14,079			14,079
	Debt secured by receivables measured at fair value	$	5,392			–		$	–			5,392			5,392
	Securitization trust debt	$	1,326,319			–		$	–			1,364,930			1,364,930
	Subordinated renewable notes	$	18,038			–		$	–			18,038			18,038
		As of December 31, 2013
	Financial Instrument	(In thousands)
		Carrying			Fair Value Measurements Using:
		Value			Level 1			Level 2			Level 3			Total
	Assets:
	Cash and cash equivalents	$	22,112		$	22,112		$	–		$	–		$	22,112
	Restricted cash and equivalents	$	132,284			132,284		$	–			–			132,284
	Finance receivables, net	$	1,115,437			–		$	–			1,100,153			1,100,153
	Finance receivables measured at fair value	$	14,476			–		$	–			14,476			14,476
	Residual interest in securitizations	$	854			–		$	–			854			854
	Accrued interest receivable	$	18,670			–		$	–			18,670			18,670
	Liabilities:
	Warehouse lines of credit	$	9,452			–		$	–		$	9,452		$	9,452
	Accrued interest payable	$	2,908			–			–			2,908			2,908
	Residual interest financing	$	19,096			–		$	–			19,096			19,096
	Debt secured by receivables measured at fair value	$	13,117			–		$	–			13,117			13,117
	Securitization trust debt	$	1,177,559			–		$	–			1,189,086			1,189,086
	Senior secured debt, related party	$	38,559			–		$	–			38,559			38,559
	Subordinated renewable notes	$	19,142			–		$	–			19,142			19,142

1_Summary_of_Significant_Accou3

1. Summary of Significant Accounting Policies - Schedule of Other Income (Details-Other Income) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Primary components of Other Income	'	'	'	'
Other income for the period	$3,006	$2,862	$5,643	$5,380
Direct Mail Revenues	'	'	'	'
Primary components of Other Income	'	'	'	'
Other income for the period	2,171	1,963	4,023	3,727
Convenience Fee Revenue	'	'	'	'
Primary components of Other Income	'	'	'	'
Other income for the period	800	828	1,610	1,515
Recoveries on previously charged-off contracts	'	'	'	'
Primary components of Other Income	'	'	'	'
Other income for the period	48	54	83	104
Sales Tax Refunds	'	'	'	'
Primary components of Other Income	'	'	'	'
Other income for the period	129	0	231	84
Other Income	'	'	'	'
Primary components of Other Income	'	'	'	'
Other income for the period	($142)	$17	($304)	($50)

1_Summary_of_Significant_Accou4

1. Summary of Significant Accounting Policies (Details-Options outstanding) (USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Number of Shares	'	'
Outstanding options, beginning balance	10,128,000	'
Granted	0	'
Exercised	-978,000	-394,000
Forfeited	-103,000	'
Outstanding options, ending balance	9,047,000	'
Options exercisable	5,841,000	'
Weighted Average Exercise Price	'	'
Outstanding options, beginning balance	$3.30	'
Granted	$0	'
Exercised	$2.22	'
Forfeited	$4.58	'
Outstanding options, ending balance	$3.41	'
Options exercisable	$2.49	'
Weighted Average Remaining Contractual Term	'	'
Outstanding options, ending balance	'6 years 4 months 2 days	'
Options exercisable	'5 years 3 months 18 days	'

1_Summary_of_Significant_Accou5

1. Summary of Significant Accounting Policies (Details Narrative) (USD $)	6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Accounting Policies [Abstract]	'	'
Stock based compensation costs	$1,459	$1,820
Unrecognized stock-based compensation costs	10,900	'
Unrecognized stock-based compensation costs amortization period	'3 years 2 months 12 days	'
Aggregate intrinsic value outstanding	38,600	'
Aggregate intrinsic value exercisable	$30,100	'
Options Exercised	978,000	394,000
Shares available for future grants	4,100,000	'

2_Finance_Receivables_DetailsF

2. Finance Receivables (Details-Finance receivables) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Finance Receivables	'	'
Automobile finance receivables, net of unearned interest	$1,334,938	$1,182,950
Less: Unearned acquisition fees and discounts	-22,193	-27,887
Finance Receivables	$1,312,745	$1,155,063

2_Finance_Receivables_DetailsD

2. Finance Receivables (Details-Delinquency status) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Deliquency Status	'	'
Current	$1,279,716	$1,125,926
31 - 60 days	30,946	21,421
61 - 90 days	17,040	24,663
91 + days	7,236	10,940
Finance receivables	$1,334,938	$1,182,950

2_Finance_Receivables_DetailsA

2. Finance Receivables (Details-Allowance for finance credit losses) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Finance Receivables	'	'	'	'
Balance at beginning of period	$44,652	$24,881	$39,626	$19,594
Provision for credit losses on finance receivables	25,627	17,371	49,508	32,519
Charge-offs	-26,985	-13,361	-50,526	-26,277
Recoveries	10,032	3,210	14,718	6,265
Balance at end of period	$53,326	$32,101	$53,326	$32,101

2_Finance_Receivables_DetailsR

2. Finance Receivables (Details-Repossessions) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Finance Receivables	'	'
Gross balance of repossessions in inventory	$28,884	$24,743
Allowance for losses on repossessed inventory	-16,291	-14,779
Net repossessed inventory included in other assets	$12,593	$9,964

2_Finance_Receivables_Details_

2. Finance Receivables (Details Narrative) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Finance Receivables	'	'
Finance receivables	$7,200	$10,900

3_Finance_Receivables_Measured2

3. Finance Receivables Measured at Fair Value (Details-Finance receivables) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Finance Receivables Measured At Fair Value	'	'
Finance receivables and accrued interest, net of unearned interest	$5,651	$14,786
Less: Fair value adjustment	35	-310
Finance receivables measured at fair value	$5,686	$14,476

3_Finance_Receivables_Measured3

3. Finance Receivables Measured at Fair Value (Details-Delinquency status) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Total finance receivables measured at fair value	$5,651	$14,786
Current	'	'
Total finance receivables measured at fair value	4,999	13,421
31-60 days	'	'
Total finance receivables measured at fair value	425	878
61-90 days	'	'
Total finance receivables measured at fair value	177	253
91+ days	'	'
Total finance receivables measured at fair value	$50	$234

4_Securitization_Trust_Debt_De

4. Securitization Trust Debt (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
"Securitization trust debt," and components of debt	'	'
Receivables Pledged at end of period	$1,277,812	'
Initial Principal	2,145,050	'
Outstanding Principal	1,326,319	1,177,559
Page Five Funding [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'January 2018	'
Receivables Pledged at end of period	7,304	'
Initial Principal	46,058	'
Outstanding Principal	5,520	9,358
Weighted Average Contractual Interest Rate at March 31, 2013	9.28%	'
CPS 2011-A [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'April 2018	'
Receivables Pledged at end of period	19,474	'
Initial Principal	104,546	'
Outstanding Principal	15,614	24,526
Weighted Average Contractual Interest Rate at March 31, 2013	3.02%	'
CPS 2011-B [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'September 2018	'
Receivables Pledged at end of period	32,820	'
Initial Principal	111,046	'
Outstanding Principal	32,334	44,433
Weighted Average Contractual Interest Rate at March 31, 2013	4.57%	'
CPS 2011-C [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'March 2019	'
Receivables Pledged at end of period	42,112	'
Initial Principal	119,400	'
Outstanding Principal	41,886	56,271
Weighted Average Contractual Interest Rate at March 31, 2013	4.95%	'
CPS 2012-A [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'June 2019	'
Receivables Pledged at end of period	49,549	'
Initial Principal	155,000	'
Outstanding Principal	48,973	65,051
Weighted Average Contractual Interest Rate at March 31, 2013	3.48%	'
CPS 2012-B [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'September 2019	'
Receivables Pledged at end of period	66,795	'
Initial Principal	141,500	'
Outstanding Principal	66,597	86,254
Weighted Average Contractual Interest Rate at March 31, 2013	3.18%	'
CPS 2012-C [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'December 2019	'
Receivables Pledged at end of period	72,712	'
Initial Principal	147,000	'
Outstanding Principal	72,357	93,006
Weighted Average Contractual Interest Rate at March 31, 2013	2.51%	'
CPS 2012-D [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'March 2020	'
Receivables Pledged at end of period	87,755	'
Initial Principal	160,000	'
Outstanding Principal	87,321	108,815
Weighted Average Contractual Interest Rate at March 31, 2013	2.17%	'
CPS 2013-A [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'June 2020	'
Receivables Pledged at end of period	123,386	'
Initial Principal	185,000	'
Outstanding Principal	121,607	142,842
Weighted Average Contractual Interest Rate at March 31, 2013	1.99%	'
CPS 2013-B [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'September 2020	'
Receivables Pledged at end of period	147,989	'
Initial Principal	205,000	'
Outstanding Principal	143,120	172,499
Weighted Average Contractual Interest Rate at March 31, 2013	2.41%	'
CPS 2013-C [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'December 2020	'
Receivables Pledged at end of period	166,129	'
Initial Principal	205,000	'
Outstanding Principal	162,872	191,504
Weighted Average Contractual Interest Rate at March 31, 2013	2.55%	'
CPS 2013-D [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'March 2021	'
Receivables Pledged at end of period	161,439	'
Initial Principal	183,000	'
Outstanding Principal	157,707	183,000
Weighted Average Contractual Interest Rate at March 31, 2013	2.29%	'
CPS 2014-A [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'June 2021	'
Receivables Pledged at end of period	170,667	'
Initial Principal	180,000	'
Outstanding Principal	167,911	0
Weighted Average Contractual Interest Rate at March 31, 2013	1.92%	'
CPS 2014-B [Member]	'	'
"Securitization trust debt," and components of debt	'	'
Final Scheduled Payment Date	'September 2021	'
Receivables Pledged at end of period	129,681	'
Initial Principal	202,500	'
Outstanding Principal	$202,500	$0
Weighted Average Contractual Interest Rate at March 31, 2013	1.77%	'

4_Securitization_Trust_Debt_De1

4. Securitization Trust Debt (Details Narrative) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Securitization Trust Debt	'
Restricted Cash for securitization trust debt	$154,900

5_Debt_Details

5. Debt (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]	'	'
Other debt outstanding	$78,799	$99,366
Warehouse lines of credit	'	'
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]	'	'
Other debt outstanding	23,172	9,452
Interest rate	'5.73% over one month Libor (Minimum 6.73%)	'
Maturity date	'Mar-17	'
Warehouse lines of credit (2)	'	'
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]	'	'
Other debt outstanding	18,118	0
Interest rate	'6.00% over one month Libor (Minimum 6.75%)	'
Maturity date	'Jun-16	'
Residual interest financing	'	'
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]	'	'
Other debt outstanding	14,079	19,096
Interest rate	'11.75% over one month Libor	'
Maturity date	'Apr-18	'
Debt secured by receivables measured at fair value	'	'
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]	'	'
Other debt outstanding	5,392	13,117
Interest rate	'-	'
Maturity date	'Repayment is based on payments from underlying receivables.B Final payment of the 8.00% loan was made in September 2013, with residual payments extending through 2016	'
Senior Secured Debt Related Party 1	'	'
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]	'	'
Other debt outstanding	0	37,128
Interest rate	'13.00%	'
Maturity date	'-	'
Senior Secured Debt Related Party (2)	'	'
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]	'	'
Other debt outstanding	0	1,431
Interest rate	'5.00%	'
Maturity date	'-	'
Subordinated renewable notes	'	'
Fair Value, Option, Qualitative Disclosures Related to Election [Line Items]	'	'
Other debt outstanding	$18,038	$19,142
Interest rate	'Weighted average rate of 12.1% and 12.5% at June 30, 2014 and December 31, 2013 , respectively	'
Maturity date	'Weighted average maturity of December 2015 and July 2015 at June 30, 2014 and December 31, 2013, respectively	'

6_Interest_Income_Details

6. Interest Income (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Components of interest income	'	'	'	'
Interest on Finance Receivables	$68,098	$55,796	$132,980	$106,954
Residual interest income	123	0	236	0
Other interest income	0	1	1	10
Interest income	$68,221	$55,797	$133,217	$106,964

6_Interest_Expense_Details

6. Interest Expense (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Interest Expense Details	'	'	'	'
Securitization trust debt	$9,381	$8,230	$18,697	$17,368
Warehouse lines of credit	1,238	1,297	2,115	2,579
Senior secured debt, related party	0	2,112	1,651	4,875
Debt secured by receivables at fair value	205	1,027	533	2,813
Residual interest financing	504	1,094	1,083	1,586
Subordinated renewable notes	614	841	1,244	1,726
Total interest expense	$11,942	$14,601	$25,323	$30,947

7_Earnings_Per_Share_Details

7. Earnings Per Share (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income per share:	'	'	'	'
Weighted average common shares - basic	25,029	20,989	24,694	20,534
Incremental common shares attibutable to exercise of outstanding options and warrants	6,973	10,799	7,315	11,175
Weighted average common shares - diluted	32,002	31,788	32,009	31,709

7_Earnings_Per_Share_Details_N

7. Earnings Per Share (Details Narrative)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income per share:	'	'	'	'
Antidilutive common stock equivalents	2,600,000	2,200,000	2,600,000	1,500,000

8_Income_Taxes_Details_Narrati

8. Income Taxes (Details Narrative) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Tax Disclosure [Abstract]	'	'	'	'
Deferred tax asset	$51,600	'	$51,600	'
U.S. federal deferred tax assets	40,200	'	40,200	'
State deferred tax assets	11,400	'	11,400	'
Net operating loss carryforward	120,000	'	120,000	'
Income tax expense	$5,300	$3,700	$10,400	$6,500
Effective income tax rate	43.00%	44.00%	43.00%	43.00%

10_Employee_Benefits_Details

10. Employee Benefits (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Components of net periodic cost (benefit)	'	'	'	'
Service cost	$0	$0	$0	$0
Interest cost	220	210	440	420
Expected return on assets	-432	-335	-864	-670
Amortization of transition (asset)/obligation	0	0	0	0
Amortization of net (gain)/loss	0	117	0	234
Net periodic cost (benefit)	($212)	($8)	($424)	($16)

10_Employee_Benefits_Details_N

10. Employee Benefits (Details Narrative) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Employee Benefits	'
Plan contribution	$112
Future plan contribution	$0

11_Fair_Value_measurements_Det

11. Fair Value measurements (Details-Finance receivables) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Finance Receivables Measured at Fair Value:	'	'	'	'
Balance at beginning of period	$9,058	$43,021	$14,476	$43,021
Payments on finance receivables at fair value	-3,766	-11,461	-7,873	-27,980
Charge-offs on finance receivables at fair value	-213	-739	-556	-1,740
Discount accretion	592	98	-353	984
Mark to fair value	15	-600	-8	-613
Balance at end of period	5,686	30,319	5,686	30,319
Balance at beginning of period	8,576	40,387	13,117	57,107
Principal payments on debt at fair value	-3,515	-14,614	-8,554	-32,544
Premium accretion	186	452	490	1,556
Mark to fair value	145	-603	339	-497
Balance at end of period	5,392	25,622	5,392	25,622
Reduction for principal payments collected and payable	-878	-3,715	-878	-3,715
Adjusted balance at end of period	$4,514	$21,907	$4,514	$21,907

11_Fair_Value_measurements_Det1

11. Fair Value measurements (Details-Fireside receivables) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Contractual Balance [Member]	'	'
Fair values of the Fireside receivables and the related secured debt to their contractual balances	'	'
Fireside receivables portfolio	$5,651	$14,786
Debt secured by Fireside receivables portfolio	'	'
Fair Value [Member]	'	'
Fair values of the Fireside receivables and the related secured debt to their contractual balances	'	'
Fireside receivables portfolio	5,686	14,476
Debt secured by Fireside receivables portfolio	$5,392	$13,117

11_Fair_Value_measurements_Det2

11. Fair Value measurements (Details-Residual interest) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Residual Interest in Securitizations:	'	'	'	'
Balance at beginning of period	$445	$3,505	$854	$4,824
Cash paid (received) during period	-308	-1,259	-830	-2,578
Included in earnings	123	0	236	0
Balance at end of period	$260	$2,246	$260	$2,246

Recovered_Sheet1

11. Fair Value Measurements (Details-Level 3 fair value measurements) (USD $)

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

In Thousands, unless otherwise specified

Finance receivables

Finance receivables

Residual interest in securitizations

Residual interest in securitizations

DebtSecuredReceivablesMember

Debt secured by receivables measured at fair value

Finance receivables measured at fair value

$5,686

$9,058

$14,476

$30,319

$43,021

$43,021

$5,686

$14,476

'

'

'

'

Residual interest in securitizations

260

'

854

'

'

'

'

'

260

854

'

'

Debt secured by receivables measured at fair value

$5,392

'

$13,117

'

'

'

'

'

'

'

$5,392

$13,117

Valuation Techniques and Unobservable Inputs

'

'

'

'

'

'

'Discounted cash flows; Discount rate 15.40%, Cumulative net losses 5.00%, Monthly average prepayments 0.50%

'Discounted cash flows; Discount rate 15.40%, Cumulative net losses 5.00%, Monthly average prepayments 0.50%

'Discounted cash flows; Discount rate 20.00%, Cumulative net losses 15.00%, Monthly average prepayments 0.50%

'Discounted cash flows; Discount rate 20.00%, Cumulative net losses 15.00%, Monthly average prepayments 0.50%

'Discounted cash flows,B Discount rate 12.2%

'Discounted cash flows,B Discount rate 12.2%

11_Fair_Value_measurements_Det3

11. Fair Value measurements (Details-fair values) (USD $)	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Assets:	'	'	'	'	'	'
Cash and cash equivalents	$14,426	'	$22,112	'	'	'
Restricted cash and equivalents	154,902	'	132,284	'	'	'
Finance receivables, net	1,244,569	'	1,100,153	'	'	'
Finance receivables measured at fair value	5,686	9,058	14,476	30,319	43,021	43,021
Residual interest in securitizations	260	'	854	'	'	'
Accrued interest receivable	19,500	'	18,670	'	'	'
Liabilities:	'	'	'	'	'	'
Warehouse lines of credit	41,290	'	9,452	'	'	'
Accrued interest payable	3,181	'	2,908	'	'	'
Residual interest financing	14,079	'	19,096	'	'	'
Debt secured by receivables measured at fair value	5,392	'	13,117	'	'	'
Securitization trust debt	1,364,930	'	1,189,086	'	'	'
Senior secured debt, related party	'	'	38,559	'	'	'
Subordinated renewable notes	18,038	'	19,142	'	'	'
Carrying Value [Member]	'	'	'	'	'	'
Assets:	'	'	'	'	'	'
Cash and cash equivalents	14,426	'	22,112	'	'	'
Restricted cash and equivalents	154,902	'	132,284	'	'	'
Finance receivables, net	1,259,419	'	1,115,437	'	'	'
Finance receivables measured at fair value	5,686	'	14,476	'	'	'
Residual interest in securitizations	260	'	854	'	'	'
Accrued interest receivable	19,500	'	18,670	'	'	'
Liabilities:	'	'	'	'	'	'
Warehouse lines of credit	41,290	'	9,452	'	'	'
Accrued interest payable	3,181	'	2,908	'	'	'
Residual interest financing	14,079	'	19,096	'	'	'
Debt secured by receivables measured at fair value	5,392	'	13,117	'	'	'
Securitization trust debt	1,326,319	'	1,177,559	'	'	'
Senior secured debt, related party	'	'	38,559	'	'	'
Subordinated renewable notes	18,038	'	19,142	'	'	'
Fair Value Inputs Level 1 [Member]	'	'	'	'	'	'
Assets:	'	'	'	'	'	'
Cash and cash equivalents	14,426	'	22,112	'	'	'
Restricted cash and equivalents	154,902	'	132,284	'	'	'
Finance receivables, net	0	'	0	'	'	'
Finance receivables measured at fair value	0	'	0	'	'	'
Residual interest in securitizations	0	'	0	'	'	'
Accrued interest receivable	0	'	0	'	'	'
Liabilities:	'	'	'	'	'	'
Warehouse lines of credit	0	'	0	'	'	'
Accrued interest payable	0	'	0	'	'	'
Residual interest financing	0	'	0	'	'	'
Debt secured by receivables measured at fair value	0	'	0	'	'	'
Securitization trust debt	0	'	0	'	'	'
Senior secured debt, related party	'	'	0	'	'	'
Subordinated renewable notes	0	'	0	'	'	'
Level 2 [Member]	'	'	'	'	'	'
Assets:	'	'	'	'	'	'
Cash and cash equivalents	0	'	0	'	'	'
Restricted cash and equivalents	0	'	0	'	'	'
Finance receivables, net	0	'	0	'	'	'
Finance receivables measured at fair value	0	'	0	'	'	'
Residual interest in securitizations	0	'	0	'	'	'
Accrued interest receivable	0	'	0	'	'	'
Liabilities:	'	'	'	'	'	'
Warehouse lines of credit	0	'	0	'	'	'
Accrued interest payable	0	'	0	'	'	'
Residual interest financing	0	'	0	'	'	'
Debt secured by receivables measured at fair value	0	'	0	'	'	'
Securitization trust debt	0	'	0	'	'	'
Senior secured debt, related party	'	'	0	'	'	'
Subordinated renewable notes	0	'	0	'	'	'
Level 3 [Member]	'	'	'	'	'	'
Assets:	'	'	'	'	'	'
Cash and cash equivalents	0	'	0	'	'	'
Restricted cash and equivalents	0	'	0	'	'	'
Finance receivables, net	1,244,569	'	1,100,153	'	'	'
Finance receivables measured at fair value	5,686	'	14,476	'	'	'
Residual interest in securitizations	260	'	854	'	'	'
Accrued interest receivable	19,500	'	18,670	'	'	'
Liabilities:	'	'	'	'	'	'
Warehouse lines of credit	41,290	'	9,452	'	'	'
Accrued interest payable	3,181	'	2,908	'	'	'
Residual interest financing	14,079	'	19,096	'	'	'
Debt secured by receivables measured at fair value	5,392	'	13,117	'	'	'
Securitization trust debt	1,364,930	'	1,189,086	'	'	'
Senior secured debt, related party	'	'	38,559	'	'	'
Subordinated renewable notes	$18,038	'	$19,142	'	'	'