Consumer Portfolio Services (CPSS) 10-Q 11 May 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2021	May 03, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	1-11416
Entity Registrant Name	CONSUMER PORTFOLIO SERVICES, INC.
Entity Central Index Key	0000889609
Entity Tax Identification Number	33-0459135
Entity Incorporation, State or Country Code	CA
Entity Address, Address Line One	3800 Howard Hughes Parkway
Entity Address, Address Line Two	Suite 1400
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89169
City Area Code	(949)
Local Phone Number	753-6800
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	CPSS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		22,668,520

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 9,197	$ 13,466
Restricted cash and equivalents	159,404	130,686
Finance receivables measured at fair value	1,533,723	1,523,726
Finance receivables	411,109	492,133
Less: Allowance for finance credit losses	(73,497)	(80,790)
Finance receivables, net	337,612	411,343
Furniture and equipment, net	826	828
Deferred tax assets, net	27,503	28,512
Accrued interest receivable	3,744	5,017
Other assets	23,798	32,317
Total Assets	2,095,807	2,145,895
Liabilities
Accounts payable and accrued expenses	50,370	43,112
Warehouse lines of credit	71,097	118,999
Residual interest financing	20,540	25,426
Securitization trust debt	1,791,583	1,803,673
Subordinated renewable notes	23,740	21,323
Total Liabilities	1,957,330	2,012,533
Shareholders' Equity
Preferred stock	0	0
Common stock, no par value; authorized 75,000,000 shares; 22,656,229 and 22,737,342 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	72,877	72,926
Retained earnings	74,171	69,007
Accumulated other comprehensive loss	(8,571)	(8,571)
Total stockholders' equity	138,477	133,362
Total liabilities and stockholders' equity	2,095,807	2,145,895
Series A Preferred Stock [Member]
Shareholders' Equity
Preferred stock	0	0
Series B Preferred Stock [Member]
Shareholders' Equity
Preferred stock	$ 0	$ 0

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, authorized	4,998,130	4,998,130
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, no par value (in dollars per share)
Common Stock, Shares Authorized	75,000,000	75,000,000
Common Stock, Shares, Issued	22,656,229	22,737,342
Common Stock, Shares, Outstanding	22,656,229	22,737,342
Series A Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 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]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, authorized	1,870	1,870
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues:
Interest income	$ 66,093	$ 79,136
Mark to finance receivables measured at fair value	(4,417)	(10,350)
Other income	1,436	1,981
Total revenues	63,112	70,767
Expenses:
Employee costs	20,159	21,842
General and administrative	7,748	8,669
Interest	20,946	26,991
Provision for credit losses	0	3,613
Sales	3,986	4,430
Occupancy	1,901	1,691
Depreciation and amortization	428	419
Total operating expenses	55,168	67,655
Income before income tax expense (benefit)	7,944	3,112
Income tax expense (benefit)	2,780	(7,680)
Net income	$ 5,164	$ 10,792
Earnings per share:
Basic	$ 0.23	$ 0.48
Diluted	$ 0.21	$ 0.45
Number of shares used in computing earnings per share:
Basic	22,741	22,539
Diluted	24,967	23,879

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net income	$ 5,164	$ 10,792
Other comprehensive income/(loss); change in funded status of pension plan	0	0
Comprehensive income	$ 5,164	$ 10,792

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 5,164	$ 10,792
Adjustments to reconcile net income to net cash provided by operating activities:
Accretion of deferred acquisition fees and origination costs	251	339
Net interest income accretion on fair value receivables	35,025	29,715
Depreciation and amortization	428	419
Amortization of deferred financing costs	1,873	2,097
Mark to fair value of finance receivables measured at fair value	4,417	10,350
Provision for credit losses	0	3,613
Stock-based compensation expense	408	487
Changes in assets and liabilities:
Accrued interest receivable	1,273	2,850
Deferred tax assets, net	1,009	(8,364)
Other assets	8,244	1,901
Accounts payable and accrued expenses	7,258	9,855
Net cash provided by operating activities	65,350	64,054
Cash flows from investing activities:
Payments received on finance receivables held for investment	73,480	94,535
Purchases of finance receivables measured at fair value	(205,459)	(265,282)
Payments received on finance receivables at fair value	156,020	109,558
Change in repossessions held in inventory	275	382
Purchase of furniture and equipment	(426)	(295)
Net cash provided by (used in) investing activities	23,890	(61,102)
Cash flows from financing activities:
Proceeds from issuance of securitization trust debt	230,545	260,000
Proceeds from issuance of subordinated renewable notes	2,750	1,114
Payments on subordinated renewable notes	(333)	(326)
Net advances (repayments) of warehouse lines of credit	(48,256)	6,837
Repayment of residual interest financing debt	(4,979)	(1,658)
Repayment of securitization trust debt	(242,489)	(266,056)
Payment of financing costs	(1,572)	(1,674)
Purchase of common stock	(755)	0
Exercise of options and warrants	298	48
Net cash used in financing activities	(64,791)	(1,715)
Increase in cash and cash equivalents	24,449	1,237
Cash and restricted cash at beginning of period	144,152	140,832
Cash and restricted cash at end of period	168,601	142,069
Cash paid (received) during the period for:
Interest	19,252	24,739
Income taxes	$ (123)	$ (410)

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at beginning (in shares) at Dec. 31, 2019	22,531
Common stock issued upon exercise of options and warrants (in shares)	28
Repurchase of common stock (in shares)
Balance at end (in shares) at Mar. 31, 2020	22,559
Balance at beginning at Dec. 31, 2019	$ 71,257	$ 139,805	$ (8,421)
Common stock issued upon exercise of options and warrants	48
Repurchase of common stock
Cumulative change in accounting principle		(92,469)
Balance, beginning of period (as adjusted for change in accounting principle)		47,336
Pension benefit obligation				$ 0
Stock-based compensation	487
Net Income		10,792		10,792
Balance at end at Mar. 31, 2020	$ 71,792	58,128	(8,421)	121,499
Balance at beginning (in shares) at Dec. 31, 2020	22,737
Common stock issued upon exercise of options and warrants (in shares)	98
Repurchase of common stock (in shares)	(179)
Balance at end (in shares) at Mar. 31, 2021	22,656
Balance at beginning at Dec. 31, 2020	$ 72,926	69,007	(8,571)	133,362
Common stock issued upon exercise of options and warrants	298
Repurchase of common stock	(755)
Cumulative change in accounting principle
Balance, beginning of period (as adjusted for change in accounting principle)		69,007
Pension benefit obligation				0
Stock-based compensation	408
Net Income		5,164		5,164
Balance at end at Mar. 31, 2021	$ 72,877	$ 74,171	$ (8,571)	$ 138,477

(1) Summary of Significant Acco

(1) Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
(1) Summary of Significant Accounting Policies	(1) 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 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) lent money directly to consumers for loans secured by vehicles, (ii) purchased immaterial amounts of vehicle purchase money loans from non-affiliated lenders, and (iii) acquired installment purchase contracts in four merger and acquisition transactions. 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 three-month period ended March 31, 2021 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, 2020. 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. Finance Receivables Measured at Fair Value Effective January 1, 2018, we adopted the fair value method of accounting for finance receivables acquired on or after that date. For each finance receivable acquired after 2017, we consider the price paid on the purchase date as the fair value for such receivable. We estimate the cash to be received in the future with respect to such receivables, based on our experience with similar receivables acquired in the past. We then compute the internal rate of return that results in the present value of those estimated cash receipts being equal to the purchase date fair value. Thereafter, we recognize interest income on such receivables on a level yield basis using that internal rate of return as the applicable interest rate. Cash received with respect to such receivables is applied first against such interest income, and then to reduce the recorded value of the receivables. We re-evaluate the fair value of such receivables at the close of each measurement period. If the reevaluation were to yield a value materially different from the recorded value, an adjustment would be required. Results for the first quarter include a $ 4.4 Anticipated credit losses are included in our estimation of cash to be received with respect to receivables. Because such credit losses are included in our computation of the appropriate level yield, we do not thereafter make periodic provision for credit losses, as our best estimate of the lifetime aggregate of credit losses is included in that initial computation. Also, because we include anticipated credit losses in our computation of the level yield, the computed level yield is materially lower than the average contractual rate applicable to the receivables. Because our initial recorded value is fixed as the price we pay for the receivable, rather than as the contractual principal balance, we do not record acquisition fees as an amortizing asset related to the receivables, nor do we capitalize costs of acquiring the receivables. Rather we recognize the costs of acquisition as expenses in the period incurred. Other Income The following table presents the primary components of Other Income for the three-month periods ending March 31, 2021 and 2020: Schedule of other income Three Months Ended March 31, 2021 2020 (In thousands) Direct mail revenues $ 979 $ 1,183 Convenience fee revenue 240 530 Recoveries on previously charged-off contracts 15 25 Sales tax refunds 171 202 Other 31 41 Other income for the period $ 1,436 $ 1,981 Leases The Company has operating leases for corporate offices, equipment, software and hardware. The Company has entered into operating leases for the majority of its real estate locations, primarily office space. These leases are generally for periods of three to seven years with various renewal options. The depreciable life of leased assets is limited by the expected lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. The following table presents the supplemental balance sheet information related to leases: Supplemental balance sheet information related to leases March 31, December 31, 2021 2020 (In thousands) Operating Leases Operating lease right-of-use assets $ 23,840 $ 23,735 Less: Accumulated amortization right-of-use assets (14,257 ) (12,792 ) Operating lease right-of-use assets, net $ 9,583 $ 10,943 $ Operating lease liabilities $ (10,643 ) $ (12,096 ) $ Finance Leases $ Property and equipment, at cost $ 3,407 $ 3,407 Less: Accumulated depreciation (1,507 ) (1,226 ) Property and equipment, net $ 1,900 $ 2,181 $ Finance lease liabilities $ (1,969 ) $ (2,243 ) $ Weighted Average Discount Rate $ Operating lease 5.0% 5.0% Finance lease 6.5% 6.5% Maturities of leases Maturities of lease liabilities were as follows: $ (In thousands) Operating Finance Year Ending December 31, Lease Lease 2021 (excluding the three months ended March 31, 2021) $ 5,549 $ 921 2022 6,089 1,051 2023 1,421 84 2024 443 26 2025 305 9 Thereafter 2 – Total undiscounted lease payments 13,809 2,091 Less amounts representing interest (3,166 ) (122 ) Lease Liability $ 10,643 $ 1,969 The following table presents the lease expense included in General and administrative and Occupancy expense on our Unaudited Condensed Consolidated Statement of Operations: Lease information Three Months Ended March 31, 2021 2020 (In thousands) Operating lease cost $ 1,837 $ 1,885 Finance lease cost 308 278 Total lease cost $ 2,145 $ 2,163 The following table presents the supplemental cash flow information related to leases: Supplemental cash flow information related to leases Three Months Ended March 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: (In thousands) Operating cash flows from operating leases $ 1,930 $ 1,926 Operating cash flows from finance leases 274 231 Financing cash flows from finance leases 35 46 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 three months ended March 31, 2021 and 2020, we recorded stock-based compensation costs in the amount of $ 408,000 487,000 2.8 2.0 The following represents stock option activity for the three months ended March 31, 2021: Number of Shares Weighted Average Exercise Weighted Average Remaining Contractual (in thousands) Price Term Options outstanding at the beginning of period 15,977 $ 4.46 N/A Granted – – N/A Exercised (98 ) 3.05 N/A Forfeited (45 ) 3.65 N/A Options outstanding at the end of period 15,834 $ 4.47 2.58 Options exercisable at the end of period 12,499 $ 4.82 1.87 The following table presents the price distribution of stock options outstanding and exercisable for the years ended March 31, 2021 and December 31, 2020: Schedule of stock options outstanding and exercisable Number of shares as of Number of shares as of March 31, 2021 December 31, 2020 Outstanding Exercisable Outstanding Exercisable Range of exercise prices: (In thousands) (In thousands) $0.95 - $1.99 1,878 1,878 1,904 1,904 $2.00 - $2.99 1,570 180 1,570 180 $3.00 - $3.99 4,863 3,234 4,973 3,306 $4.00 - $4.99 1,533 1,217 1,540 1,217 $5.00 - $5.99 – – – – $6.00 - $6.99 4,770 4,770 4,770 4,770 $7.00 - $7.99 1,220 1,220 1,220 1,220 Total shares 15,834 12,499 15,977 12,597 At March 31, 2021 the aggregate intrinsic value of options outstanding and exercisable was $ 10.0 7.0 98,000 28,000 122,000 51,000 315,000 Purchases of Company Stock The table below describes the purchase of our common stock for the three-month ended March 31, 2021 and 2020: Schedule of purchases of company stock Three Months Ended March 31, 2021 March 31, 2020 Shares Avg. Price Shares Avg. Price Open market purchases 138,004 $ 4.18 – $ – Shares redeemed upon net exercise of stock options 40,727 4.36 – – Total stock purchases 178,731 $ 4.22 – $ – Reclassifications Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on net income or 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 March 31, 2021, we were in compliance with all such covenants. In addition, certain of our debt agreements other than our term securitizations contain cross-default provisions. Such cross-default provisions would allow the respective creditors to declare a default if an event of default occurred with respect to other indebtedness of ours, but only if such other event of default were to be accompanied by acceleration of such other indebtedness. 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. Coronavirus Pandemic In December 2019, a new strain of coronavirus (the “COVID-19 virus”) originated in Wuhan, China. Since its discovery, the COVID-19 virus has spread throughout the world, and the outbreak has been declared to be a pandemic by the World Health Organization. We refer from time to time in this report to the outbreak and spread of the COVID-19 virus as “the pandemic.” We measure our portfolio of finance receivables carried at fair value with consideration for unobservable inputs that reflect our own assumptions about the factors that market participants use in pricing similar receivables and are based on the best information available in the circumstances. They include such inputs as estimates for the magnitude and timing of net charge-offs and the rate of amortization of the portfolio. The pandemic and the adverse effect it may have on the U.S. economy and our obligors may cause us to consider s ignificant changes in any of those inputs, which in turn may have a significant effect on our fair value measurement.

(2) Finance Receivables

(2) Finance Receivables	3 Months Ended
	Mar. 31, 2021
Finance Receivables
(2) Finance Receivables	(2) 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. In January 2018 the Company adopted the fair value method of accounting for finance receivables acquired after 2017. Finance receivables measured at fair value are recorded separately on the Company’s Balance Sheet and are excluded from all tables in this footnote. The following table presents the components of Finance Receivables, net of unearned interest: Schedule of finance receivables March 31, December 31, 2021 2020 Finance receivables (In thousands) Automobile finance receivables, net of unearned interest $ 410,623 $ 491,307 Unearned acquisition fees and originations costs 486 826 Finance receivables $ 411,109 $ 492,133 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 March 31, 2021 and December 31, 2020: Schedule of delinquency status of finance receivables March 31, December 31, 2021 2020 (In thousands) Delinquency Status Current $ 360,369 $ 406,693 31 - 60 days 35,533 56,572 61 - 90 days 11,683 22,660 91 + days 3,038 5,382 $ 410,623 $ 491,307 Finance receivables totaling $ 3.0 5.4 Allowance for Credit Losses – Finance Receivables The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of finance receivables to present the net amount expected to be collected. Charge offs are deducted from the allowance when management believes that collectability is unlikely. Management estimates the allowance using relevant available information, from internal and external sources, relating to past events, current conditions and, reasonable and supportable forecasts. We believe our historical credit loss experience provides the best basis for the estimation of expected credit losses. Consequently, we use historical loss experience for older receivables, aggregated into vintage pools based on their calendar quarter of origination, to forecast expected losses for less seasoned quarterly vintage pools. We measure the weighted average monthly incremental change in cumulative net losses for the vintage pools in the relevant historical period. For the pools in the relevant historical period, we consider each pool’s performance from its inception through the end of the current period. We then apply the results of the historical analysis to less seasoned vintage pools beginning with each vintage pool’s most recent actual cumulative net loss experience and extrapolating from that point based on the historical data. We believe the pattern and magnitude of losses on older vintages allows us to establish a reasonable and supportable forecast of less seasoned vintages. Our contract purchase guidelines are designed to produce a homogenous portfolio. For key credit characteristics of individual contracts such as obligor credit history, job stability, residence stability and ability to pay, there is relatively little variation from the average for the portfolio. Similarly, for key structural characteristics such as loan-to-value, length of contract, monthly payment and amount financed, there is relatively little variation from the average for the portfolio. Consequently, we do not believe there are significant differences in risk characteristics between various segments of our portfolio. Our methodology incorporates historical pools that are sufficiently seasoned to capture the magnitude and trends of losses within those vintage pools. Furthermore, the historical period encompasses a substantial volume of receivables over periods that include fluctuations in the competitive landscape, the Company’s rates of growth, size of our managed portfolio and fluctuations in economic growth and unemployment. In consideration of the depth and breadth of the historical period, and the homogeneity of our portfolio, we generally do not adjust historical loss information for differences in risk characteristics such as credit or structural composition of segments of the portfolio or for changes in environmental conditions such as changes in unemployment rates, collateral values or other factors. However, we have considered how certain qualitative factors may affect future credit losses and have incorporated our judgement of the effect of such factors into our estimates. Effective January 1, 2020, the Company adopted Accounting Standards Codification ("ASC") 326, which changes the criteria under which credit losses on financial instruments (such as the Company’s finance receivables) are measured. ASC 326 introduced a new credit reserving model known as the Current Expected Credit Loss (“CECL”) model, which replaces the incurred loss impairment methodology previously used under U.S. GAAP with a methodology that records currently the expected lifetime credit losses on financial instruments. The adoption of CECL required that we establish an allowance for the remaining expected lifetime credit losses on the portion of the Company’s receivable portfolio for which the Company was not already using fair value accounting. We refer to that portion, which is those receivables that were originated prior to January 2018, as our “legacy portfolio”. To comply with CECL, the Company recorded an addition to its allowance for finance credit losses of $ 127.0 The following table presents the amortized cost basis of our finance receivables by annual vintage as of March 31, 2021 and December 31, 2020. Schedule of amortized cost basis of finance receivables March 31, December 31, 2021 2020 (In thousands) Annual Vintage Pool 2012 and prior $ 427 $ 608 2013 3,102 4,483 2014 17,169 23,115 2015 62,428 78,457 2016 136,699 163,677 2017 190,798 220,967 $ 410,623 $ 491,307 The following table presents a summary of the activity for the allowance for finance credit losses for the three-month periods ended March 31, 2021 and 2020: Schedule of allowance for finance credit losses Three Months Ended March 31, 2021 2020 (In thousands) Balance at beginning of period $ 80,790 $ 11,640 Early adoption of CECL – 127,000 Provision for credit losses on finance receivables – 3,613 Charge-offs (12,122 ) (34,214 ) Recoveries 4,829 6,034 Balance at end of period $ 73,497 $ 114,073 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: Schedule of allowance for losses on repossessed inventory March 31, December 31, 2021 2020 (In thousands) Gross balance of repossessions in inventory $ 10,340 $ 15,589 Allowance for losses on repossessed inventory (6,816 ) (11,790 ) Net repossessed inventory included in other assets $ 3,524 $ 3,799

(3) Securitization Trust Debt

(3) Securitization Trust Debt	3 Months Ended
	Mar. 31, 2021
Securitization Trust Debt
(3) Securitization Trust Debt	(3) 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: Series Final Scheduled Payment Date (1) Receivables Pledged at Initial Principal Outstanding Principal at Outstanding Principal at Weighted Average Contractual Interest Rate at (Dollars in thousands) CPS 2015-B September 2022 $ – $ 250,000 $ – $ 17,984 – CPS 2015-C December 2022 21,749 300,000 23,929 28,529 6.87% CPS 2016-A March 2023 28,459 329,460 30,958 37,158 7.65% CPS 2016-B June 2023 37,418 332,690 38,724 46,079 7.58% CPS 2016-C September 2023 39,455 318,500 40,046 47,325 7.82% CPS 2016-D April 2024 32,599 206,325 30,753 36,455 6.05% CPS 2017-A April 2024 36,408 206,320 34,412 40,619 6.04% CPS 2017-B December 2023 46,080 225,170 31,951 39,016 5.23% CPS 2017-C September 2024 48,489 224,825 41,953 47,553 4.95% CPS 2017-D June 2024 50,010 196,300 43,273 49,297 4.48% CPS 2018-A March 2025 54,744 190,000 47,230 53,549 4.25% CPS 2018-B December 2024 65,851 201,823 58,112 66,955 4.65% CPS 2018-C September 2025 76,364 230,275 68,625 77,345 4.74% CPS 2018-D June 2025 91,484 233,730 78,446 88,228 4.68% CPS 2019-A March 2026 115,227 254,400 99,017 114,373 4.50% CPS 2019-B June 2026 113,420 228,275 105,045 118,982 4.06% CPS 2019-C September 2026 133,374 243,513 125,430 142,080 3.35% CPS 2019-D December 2026 168,358 274,313 160,999 181,485 2.88% CPS 2020-A March 2027 165,519 260,000 163,649 184,944 2.89% CPS 2020-B June 2027 168,416 202,343 147,587 164,403 3.31% CPS 2020-C November 2027 223,358 252,200 214,018 231,961 1.75% CPS 2021-A March 2028 232,317 230,545 218,218 – 0.77% $ 1,949,099 $ 5,391,007 $ 1,802,375 $ 1,814,320 _________________ (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 $ 642.9 498.5 411.9 100.4 102.2 33.7 2.0 (2) Includes repossessed assets that are included in Other assets on our Unaudited Condensed Consolidated Balance Sheet. Debt issuance costs of $ 10.8 10.6 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. As of March 31, 2021, 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 March 31, 2021, restricted cash under the various agreements totaled approximately $ 159.4 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. On April 28, 2021 we completed our second securitization transaction of 2021. In the transaction, qualified institutional buyers purchased $ 240.0 240.0 1.65

(4) Debt

(4) Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
(4) Debt	(4) Debt The terms and amounts of our other debt outstanding at March 31, 2021 and December 31, 2020 are summarized below: Schedule of debt outstanding Amount Outstanding at March December 31, 2021 2020 (In thousands) Description Interest Rate Maturity Warehouse lines of credit 5.50% over one month Libor (Minimum 6.50%) N/A $ – $ 42,558 3.00% over one month Libor (Minimum 3.75%) December 2022 44,956 45,689 4.00% over a commercial paper rate (Minimum 5.00%) December 2021 27,300 32,265 Residual interest financing 8.60% January 2026 20,597 25,576 Subordinated renewable notes Weighted average rate of 9.92% and 10.09% at March 31, 2021 and December 31, 2020, respectively Weighted average maturity of March 2023 and January 2023 at March 31, 2021 and December 31, 2020, respectively 23,740 21,323 $ 116,593 $ 167,411 As of December 31, 2020 we had short-term funding capacity of $ 300 200 Unamortized debt issuance costs of $ 57,000 150,000 1.2 1.5

(5) Interest Income and Interes

(5) Interest Income and Interest Expense	3 Months Ended
	Mar. 31, 2021
Interest Income And Interest Expense
(5) Interest Income and Interest Expense	(5) Interest Income and Interest Expense The following table presents the components of interest income: Schedule of interest income Three Months Ended March 31, 2021 2020 (In thousands) Interest on finance receivables $ 22,099 $ 37,807 Interest on finance receivables at fair value 43,988 40,806 Mark to finance receivables measured at fair value (4,417 ) (10,350 ) Other interest income 6 523 Interest income $ 61,676 $ 68,786 The following table presents the components of interest expense: Schedule of interest expense Three Months Ended March 31, 2021 2020 (In thousands) Securitization trust debt $ 18,453 $ 23,798 Warehouse lines of credit 1,314 1,763 Residual interest financing 566 938 Subordinated renewable notes 613 492 Interest expense $ 20,946 $ 26,991

(6) Earnings Per Share

(6) Earnings Per Share	3 Months Ended
	Mar. 31, 2021
Earnings per share:
(6) Earnings Per Share	(6) Earnings Per Share Earnings per share for the three-month periods ended March 31, 2021 and 2020 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 periods ended March 31, 2021 and 2020: Computation of earnings per share Three Months Ended March 31, 2021 2020 (In thousands) Weighted average number of common shares outstanding during the period used to compute basic earnings per share 22,741 22,539 Incremental common shares attributable to exercise of outstanding options and warrants 2,226 1,340 Weighted average number of common shares used to compute diluted earnings per share 24,967 23,879 If the anti-dilutive effects of common stock equivalents were considered, shares included in the diluted earnings per share calculation for the three-months ended March 31, 2021 and 2020 would have included an additional 7.5 12.9

(7) Income Taxes

(7) Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
(7) Income Taxes	(7) 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 2013. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (“CARES”) Act was adopted, providing wide ranging economic relief for individuals and businesses. One component of the CARES Act provides the Company with an opportunity to carry back net operating losses (“NOLs”) arising from 2018, 2019 and 2020 to the prior five tax years. The Company has such NOLs reflected on its balance sheet as a portion of deferred tax assets. The Company has previously valued its NOLs at the federal corporate income tax rate of 21%. However, the provisions of the CARES Act provide for NOL carryback claims to be calculated based on a rate of 35%, which was the federal corporate tax rate in effect for the carryback years. Consequently, the Company has revalued the benefit from its NOLs to reflect a 35% tax rate. The result of the revaluation of NOLs and other tax adjustments is a net tax benefit of $ 8.8 As of March 31, 2021, and December 31, 2020, we had no 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 $27.5 million as of March 31, 2021 is more likely than not based on forecasted future net earnings. Our net deferred tax asset of $ 27.5 16.2 11.3 Income tax expense was $ 2.8 35 7.7 36

(8) Legal Proceedings

(8) Legal Proceedings	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
(8) Legal Proceedings	(8) Consumer Litigation. For the most part, we have legal and factual defenses to consumer claims, which we routinely contest or settle (for immaterial amounts) depending on the particular circumstances of each case. Wage and Hour Claim. We believe that our compensation practices with respect to our sales representatives are compliant with applicable law. Accordingly, we have defended and intend to continue to defend this lawsuit. We have not recorded a liability with respect to this claim on the accompanying consolidated financial statements. In General. Accordingly, we believe that the ultimate resolution of such legal proceedings and contingencies 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 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.

(9) Fair Value Measurements

(9) Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
(9) Fair Value Measurements	(9) 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. Effective January 2018 we have elected to use the fair value method to value our portfolio of finance receivables acquired in January 2018 and thereafter. Our valuation policies and procedures have been developed by our Accounting department in conjunction with our Risk department and with consultation with outside valuation experts. Our policies and procedures have been approved by our Chief Executive and our Board of Directors and include methodologies for valuation, internal reporting, calibration and back testing. Our periodic review of valuations includes an analysis of changes in fair value measurements and documentation of the reasons for such changes. There is little available third-party information such as broker quotes or pricing services available to assist us in our valuation process. Our level 3, unobservable inputs reflect our own assumptions about the factors that market participants use in pricing similar receivables and are based on the best information available in the circumstances. They include such inputs as estimates for the magnitude and timing of net charge-offs and the rate of amortization of the portfolio of finance receivable. Significant changes in any of those inputs in isolation would have a significant effect on our fair value measurement. For the period ended March 31, 2021, the Company evaluated of the appropriate fair value and future earnings rate of existing receivables compared to recently acquired receivables and our assessment of potential additional future net losses on the portfolio of finance receivables carried at fair value and recorded a mark down to that portfolio of $ 4.4 The table below presents a reconciliation of the finance receivables measured at fair value on a recurring basis using significant unobservable inputs: Schedule of reconciliation of the finance receivables measured at fair value on a recurring basis Three Months Ended March 31, 2021 2020 (In thousands) Balance at beginning of period $ 1,523,726 $ 1,444,038 Finance receivables at fair value acquired during period 205,459 265,282 Payments received on finance receivables at fair value (156,020 ) (109,558 ) Net interest income accretion on fair value receivables (35,025 ) (29,715 ) Mark to fair value (4,417 ) (10,350 ) Balance at end of period $ 1,533,723 $ 1,559,697 The table below compares the fair values of these finance receivables to their contractual balances for the periods shown: Schedule of finance receivables to their contractual balances March 31, 2021 December 31, 2020 Contractual Fair Contractual Fair Balance Value Balance Value (In thousands) Finance receivables measured at fair value $ 1,698,110 $ 1,533,723 $ 1,668,076 $ 1,523,726 The following table provides certain qualitative information about our level 3 fair value measurements: Schedule of level 3 fair value measurements Financial Instrument Fair Values as of Inputs as of March 31, December 31, March 31, December 31, 2021 2020 Unobservable Inputs 2021 2020 (In thousands) Assets: Finance receivables measured at fair value $ 1,533,723 $ 1,523,726 Discount rate 11.0 11.3 10.4 11.1 Cumulative net losses 15.4 18.4 15.3 18.4 The following table summarizes the delinquency status of these finance receivables measured at fair value as of March 31, 2021 and December 31, 2020: Schedule of delinquency status of finance receivables measured at fair value March 31, December 31, 2021 2020 (In thousands) Delinquency Status Current $ 1,594,070 $ 1,505,486 31 - 60 days 58,534 96,296 61 - 90 days 20,114 36,436 91 + days 5,378 9,607 Repo 20,014 20,251 $ 1,698,110 $ 1,668,076 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 March 31, 2021 the finance receivables related to the repossessed vehicles in inventory totaled $ 10.3 6.8 34 3.5 3.8 11.8 There were no transfers in or out of level 1, level 2 or level 3 assets and liabilities for the three months ended March 31, 2021 and 2020. The estimated fair values of financial assets and liabilities at March 31, 2021 and December 31, 2020, were as follows: Schedule of estimated fair values of financial assets and liabilities As of March 31, 2021 Financial Instrument (In thousands) Carrying Fair Value Measurements Using: Value Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 9,197 $ 9,197 $ – $ – $ 9,197 Restricted cash and equivalents 159,404 159,404 – – 159,404 Finance receivables, net 337,612 – – 348,892 348,892 Accrued interest receivable 3,744 – – 3,744 3,744 Liabilities: Warehouse lines of credit $ 71,097 $ – $ – $ 71,097 $ 71,097 Accrued interest payable 4,740 – – 4,740 4,740 Securitization trust debt 1,791,583 – – 1,813,370 1,813,370 Subordinated renewable notes 23,740 – – 23,740 23,740 As of December 31, 2020 Financial Instrument (In thousands) Carrying Fair Value Measurements Using: Value Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 13,466 $ 13,466 $ – $ – $ 13,466 Restricted cash and equivalents 130,686 130,686 – – 130,686 Finance receivables, net 411,343 – – 429,972 429,972 Accrued interest receivable 5,017 – – 5,017 5,017 Liabilities: Warehouse lines of credit $ 118,999 $ – $ – $ 118,999 $ 118,999 Accrued interest payable 4,919 – – 4,919 4,919 Securitization trust debt 1,803,673 – – 1,862,630 1,862,630 Subordinated renewable notes 21,323 – – 21,323 21,323

(1) Summary of Significant Ac_2

(1) Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Description of Business	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 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) lent money directly to consumers for loans secured by vehicles, (ii) purchased immaterial amounts of vehicle purchase money loans from non-affiliated lenders, and (iii) acquired installment purchase contracts in four merger and acquisition transactions. In this report, we refer to all of such contracts and loans as "automobile contracts."
Basis of Presentation	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 three-month period ended March 31, 2021 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, 2020.
Use of Estimates	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.
Finance Receivables Measured at Fair Value	Finance Receivables Measured at Fair Value Effective January 1, 2018, we adopted the fair value method of accounting for finance receivables acquired on or after that date. For each finance receivable acquired after 2017, we consider the price paid on the purchase date as the fair value for such receivable. We estimate the cash to be received in the future with respect to such receivables, based on our experience with similar receivables acquired in the past. We then compute the internal rate of return that results in the present value of those estimated cash receipts being equal to the purchase date fair value. Thereafter, we recognize interest income on such receivables on a level yield basis using that internal rate of return as the applicable interest rate. Cash received with respect to such receivables is applied first against such interest income, and then to reduce the recorded value of the receivables. We re-evaluate the fair value of such receivables at the close of each measurement period. If the reevaluation were to yield a value materially different from the recorded value, an adjustment would be required. Results for the first quarter include a $ 4.4 Anticipated credit losses are included in our estimation of cash to be received with respect to receivables. Because such credit losses are included in our computation of the appropriate level yield, we do not thereafter make periodic provision for credit losses, as our best estimate of the lifetime aggregate of credit losses is included in that initial computation. Also, because we include anticipated credit losses in our computation of the level yield, the computed level yield is materially lower than the average contractual rate applicable to the receivables. Because our initial recorded value is fixed as the price we pay for the receivable, rather than as the contractual principal balance, we do not record acquisition fees as an amortizing asset related to the receivables, nor do we capitalize costs of acquiring the receivables. Rather we recognize the costs of acquisition as expenses in the period incurred.
Other Income	Other Income The following table presents the primary components of Other Income for the three-month periods ending March 31, 2021 and 2020: Schedule of other income Three Months Ended March 31, 2021 2020 (In thousands) Direct mail revenues $ 979 $ 1,183 Convenience fee revenue 240 530 Recoveries on previously charged-off contracts 15 25 Sales tax refunds 171 202 Other 31 41 Other income for the period $ 1,436 $ 1,981
Leases	Leases The Company has operating leases for corporate offices, equipment, software and hardware. The Company has entered into operating leases for the majority of its real estate locations, primarily office space. These leases are generally for periods of three to seven years with various renewal options. The depreciable life of leased assets is limited by the expected lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. The following table presents the supplemental balance sheet information related to leases: Supplemental balance sheet information related to leases March 31, December 31, 2021 2020 (In thousands) Operating Leases Operating lease right-of-use assets $ 23,840 $ 23,735 Less: Accumulated amortization right-of-use assets (14,257 ) (12,792 ) Operating lease right-of-use assets, net $ 9,583 $ 10,943 $ Operating lease liabilities $ (10,643 ) $ (12,096 ) $ Finance Leases $ Property and equipment, at cost $ 3,407 $ 3,407 Less: Accumulated depreciation (1,507 ) (1,226 ) Property and equipment, net $ 1,900 $ 2,181 $ Finance lease liabilities $ (1,969 ) $ (2,243 ) $ Weighted Average Discount Rate $ Operating lease 5.0% 5.0% Finance lease 6.5% 6.5% Maturities of leases Maturities of lease liabilities were as follows: $ (In thousands) Operating Finance Year Ending December 31, Lease Lease 2021 (excluding the three months ended March 31, 2021) $ 5,549 $ 921 2022 6,089 1,051 2023 1,421 84 2024 443 26 2025 305 9 Thereafter 2 – Total undiscounted lease payments 13,809 2,091 Less amounts representing interest (3,166 ) (122 ) Lease Liability $ 10,643 $ 1,969 The following table presents the lease expense included in General and administrative and Occupancy expense on our Unaudited Condensed Consolidated Statement of Operations: Lease information Three Months Ended March 31, 2021 2020 (In thousands) Operating lease cost $ 1,837 $ 1,885 Finance lease cost 308 278 Total lease cost $ 2,145 $ 2,163 The following table presents the supplemental cash flow information related to leases: Supplemental cash flow information related to leases Three Months Ended March 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: (In thousands) Operating cash flows from operating leases $ 1,930 $ 1,926 Operating cash flows from finance leases 274 231 Financing cash flows from finance leases 35 46
Stock-based Compensation	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 three months ended March 31, 2021 and 2020, we recorded stock-based compensation costs in the amount of $ 408,000 487,000 2.8 2.0 The following represents stock option activity for the three months ended March 31, 2021: Number of Shares Weighted Average Exercise Weighted Average Remaining Contractual (in thousands) Price Term Options outstanding at the beginning of period 15,977 $ 4.46 N/A Granted – – N/A Exercised (98 ) 3.05 N/A Forfeited (45 ) 3.65 N/A Options outstanding at the end of period 15,834 $ 4.47 2.58 Options exercisable at the end of period 12,499 $ 4.82 1.87 The following table presents the price distribution of stock options outstanding and exercisable for the years ended March 31, 2021 and December 31, 2020: Schedule of stock options outstanding and exercisable Number of shares as of Number of shares as of March 31, 2021 December 31, 2020 Outstanding Exercisable Outstanding Exercisable Range of exercise prices: (In thousands) (In thousands) $0.95 - $1.99 1,878 1,878 1,904 1,904 $2.00 - $2.99 1,570 180 1,570 180 $3.00 - $3.99 4,863 3,234 4,973 3,306 $4.00 - $4.99 1,533 1,217 1,540 1,217 $5.00 - $5.99 – – – – $6.00 - $6.99 4,770 4,770 4,770 4,770 $7.00 - $7.99 1,220 1,220 1,220 1,220 Total shares 15,834 12,499 15,977 12,597 At March 31, 2021 the aggregate intrinsic value of options outstanding and exercisable was $ 10.0 7.0 98,000 28,000 122,000 51,000 315,000
Purchases of Company Stock	Purchases of Company Stock The table below describes the purchase of our common stock for the three-month ended March 31, 2021 and 2020: Schedule of purchases of company stock Three Months Ended March 31, 2021 March 31, 2020 Shares Avg. Price Shares Avg. Price Open market purchases 138,004 $ 4.18 – $ – Shares redeemed upon net exercise of stock options 40,727 4.36 – – Total stock purchases 178,731 $ 4.22 – $ –
Reclassifications	Reclassifications Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on net income or shareholders’ equity.
Financial Covenants	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 March 31, 2021, we were in compliance with all such covenants. In addition, certain of our debt agreements other than our term securitizations contain cross-default provisions. Such cross-default provisions would allow the respective creditors to declare a default if an event of default occurred with respect to other indebtedness of ours, but only if such other event of default were to be accompanied by acceleration of such other indebtedness.
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.
Coronavirus Pandemic	Coronavirus Pandemic In December 2019, a new strain of coronavirus (the “COVID-19 virus”) originated in Wuhan, China. Since its discovery, the COVID-19 virus has spread throughout the world, and the outbreak has been declared to be a pandemic by the World Health Organization. We refer from time to time in this report to the outbreak and spread of the COVID-19 virus as “the pandemic.” We measure our portfolio of finance receivables carried at fair value with consideration for unobservable inputs that reflect our own assumptions about the factors that market participants use in pricing similar receivables and are based on the best information available in the circumstances. They include such inputs as estimates for the magnitude and timing of net charge-offs and the rate of amortization of the portfolio. The pandemic and the adverse effect it may have on the U.S. economy and our obligors may cause us to consider s ignificant changes in any of those inputs, which in turn may have a significant effect on our fair value measurement.

(1) Summary of Significant Ac_3

(1) Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of other income	Schedule of other income Three Months Ended March 31, 2021 2020 (In thousands) Direct mail revenues $ 979 $ 1,183 Convenience fee revenue 240 530 Recoveries on previously charged-off contracts 15 25 Sales tax refunds 171 202 Other 31 41 Other income for the period $ 1,436 $ 1,981
Supplemental balance sheet information related to leases	Supplemental balance sheet information related to leases March 31, December 31, 2021 2020 (In thousands) Operating Leases Operating lease right-of-use assets $ 23,840 $ 23,735 Less: Accumulated amortization right-of-use assets (14,257 ) (12,792 ) Operating lease right-of-use assets, net $ 9,583 $ 10,943 $ Operating lease liabilities $ (10,643 ) $ (12,096 ) $ Finance Leases $ Property and equipment, at cost $ 3,407 $ 3,407 Less: Accumulated depreciation (1,507 ) (1,226 ) Property and equipment, net $ 1,900 $ 2,181 $ Finance lease liabilities $ (1,969 ) $ (2,243 ) $ Weighted Average Discount Rate $ Operating lease 5.0% 5.0% Finance lease 6.5% 6.5%
Maturities of leases	Maturities of leases Maturities of lease liabilities were as follows: $ (In thousands) Operating Finance Year Ending December 31, Lease Lease 2021 (excluding the three months ended March 31, 2021) $ 5,549 $ 921 2022 6,089 1,051 2023 1,421 84 2024 443 26 2025 305 9 Thereafter 2 – Total undiscounted lease payments 13,809 2,091 Less amounts representing interest (3,166 ) (122 ) Lease Liability $ 10,643 $ 1,969
Lease information	Lease information Three Months Ended March 31, 2021 2020 (In thousands) Operating lease cost $ 1,837 $ 1,885 Finance lease cost 308 278 Total lease cost $ 2,145 $ 2,163
Supplemental cash flow information related to leases	Supplemental cash flow information related to leases Three Months Ended March 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: (In thousands) Operating cash flows from operating leases $ 1,930 $ 1,926 Operating cash flows from finance leases 274 231 Financing cash flows from finance leases 35 46
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Number of Shares Weighted Average Exercise Weighted Average Remaining Contractual (in thousands) Price Term Options outstanding at the beginning of period 15,977 $ 4.46 N/A Granted – – N/A Exercised (98 ) 3.05 N/A Forfeited (45 ) 3.65 N/A Options outstanding at the end of period 15,834 $ 4.47 2.58 Options exercisable at the end of period 12,499 $ 4.82 1.87
Schedule of stock options outstanding and exercisable	Schedule of stock options outstanding and exercisable Number of shares as of Number of shares as of March 31, 2021 December 31, 2020 Outstanding Exercisable Outstanding Exercisable Range of exercise prices: (In thousands) (In thousands) $0.95 - $1.99 1,878 1,878 1,904 1,904 $2.00 - $2.99 1,570 180 1,570 180 $3.00 - $3.99 4,863 3,234 4,973 3,306 $4.00 - $4.99 1,533 1,217 1,540 1,217 $5.00 - $5.99 – – – – $6.00 - $6.99 4,770 4,770 4,770 4,770 $7.00 - $7.99 1,220 1,220 1,220 1,220 Total shares 15,834 12,499 15,977 12,597
Schedule of purchases of company stock	Schedule of purchases of company stock Three Months Ended March 31, 2021 March 31, 2020 Shares Avg. Price Shares Avg. Price Open market purchases 138,004 $ 4.18 – $ – Shares redeemed upon net exercise of stock options 40,727 4.36 – – Total stock purchases 178,731 $ 4.22 – $ –

(2) Finance Receivables (Tables

(2) Finance Receivables (Tables)	3 Months Ended
	Mar. 31, 2021
Finance Receivables
Schedule of finance receivables	Schedule of finance receivables March 31, December 31, 2021 2020 Finance receivables (In thousands) Automobile finance receivables, net of unearned interest $ 410,623 $ 491,307 Unearned acquisition fees and originations costs 486 826 Finance receivables $ 411,109 $ 492,133
Schedule of delinquency status of finance receivables	Schedule of delinquency status of finance receivables March 31, December 31, 2021 2020 (In thousands) Delinquency Status Current $ 360,369 $ 406,693 31 - 60 days 35,533 56,572 61 - 90 days 11,683 22,660 91 + days 3,038 5,382 $ 410,623 $ 491,307
Schedule of amortized cost basis of finance receivables	Schedule of amortized cost basis of finance receivables March 31, December 31, 2021 2020 (In thousands) Annual Vintage Pool 2012 and prior $ 427 $ 608 2013 3,102 4,483 2014 17,169 23,115 2015 62,428 78,457 2016 136,699 163,677 2017 190,798 220,967 $ 410,623 $ 491,307
Schedule of allowance for finance credit losses	Schedule of allowance for finance credit losses Three Months Ended March 31, 2021 2020 (In thousands) Balance at beginning of period $ 80,790 $ 11,640 Early adoption of CECL – 127,000 Provision for credit losses on finance receivables – 3,613 Charge-offs (12,122 ) (34,214 ) Recoveries 4,829 6,034 Balance at end of period $ 73,497 $ 114,073
Schedule of allowance for losses on repossessed inventory	Schedule of allowance for losses on repossessed inventory March 31, December 31, 2021 2020 (In thousands) Gross balance of repossessions in inventory $ 10,340 $ 15,589 Allowance for losses on repossessed inventory (6,816 ) (11,790 ) Net repossessed inventory included in other assets $ 3,524 $ 3,799

(3) Securitization Trust Debt (

(3) Securitization Trust Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Securitization Trust Debt
Schedule of Long-term Debt Instruments [Table Text Block]	Series Final Scheduled Payment Date (1) Receivables Pledged at Initial Principal Outstanding Principal at Outstanding Principal at Weighted Average Contractual Interest Rate at (Dollars in thousands) CPS 2015-B September 2022 $ – $ 250,000 $ – $ 17,984 – CPS 2015-C December 2022 21,749 300,000 23,929 28,529 6.87% CPS 2016-A March 2023 28,459 329,460 30,958 37,158 7.65% CPS 2016-B June 2023 37,418 332,690 38,724 46,079 7.58% CPS 2016-C September 2023 39,455 318,500 40,046 47,325 7.82% CPS 2016-D April 2024 32,599 206,325 30,753 36,455 6.05% CPS 2017-A April 2024 36,408 206,320 34,412 40,619 6.04% CPS 2017-B December 2023 46,080 225,170 31,951 39,016 5.23% CPS 2017-C September 2024 48,489 224,825 41,953 47,553 4.95% CPS 2017-D June 2024 50,010 196,300 43,273 49,297 4.48% CPS 2018-A March 2025 54,744 190,000 47,230 53,549 4.25% CPS 2018-B December 2024 65,851 201,823 58,112 66,955 4.65% CPS 2018-C September 2025 76,364 230,275 68,625 77,345 4.74% CPS 2018-D June 2025 91,484 233,730 78,446 88,228 4.68% CPS 2019-A March 2026 115,227 254,400 99,017 114,373 4.50% CPS 2019-B June 2026 113,420 228,275 105,045 118,982 4.06% CPS 2019-C September 2026 133,374 243,513 125,430 142,080 3.35% CPS 2019-D December 2026 168,358 274,313 160,999 181,485 2.88% CPS 2020-A March 2027 165,519 260,000 163,649 184,944 2.89% CPS 2020-B June 2027 168,416 202,343 147,587 164,403 3.31% CPS 2020-C November 2027 223,358 252,200 214,018 231,961 1.75% CPS 2021-A March 2028 232,317 230,545 218,218 – 0.77% $ 1,949,099 $ 5,391,007 $ 1,802,375 $ 1,814,320 _________________ (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 $ 642.9 498.5 411.9 100.4 102.2 33.7 2.0 (2) Includes repossessed assets that are included in Other assets on our Unaudited Condensed Consolidated Balance Sheet.

(4) Debt (Tables)

(4) Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of debt outstanding	Schedule of debt outstanding Amount Outstanding at March December 31, 2021 2020 (In thousands) Description Interest Rate Maturity Warehouse lines of credit 5.50% over one month Libor (Minimum 6.50%) N/A $ – $ 42,558 3.00% over one month Libor (Minimum 3.75%) December 2022 44,956 45,689 4.00% over a commercial paper rate (Minimum 5.00%) December 2021 27,300 32,265 Residual interest financing 8.60% January 2026 20,597 25,576 Subordinated renewable notes Weighted average rate of 9.92% and 10.09% at March 31, 2021 and December 31, 2020, respectively Weighted average maturity of March 2023 and January 2023 at March 31, 2021 and December 31, 2020, respectively 23,740 21,323 $ 116,593 $ 167,411 As of December 31, 2020 we had short-term funding capacity of $ 300 200 Unamortized debt issuance costs of $ 57,000 150,000 1.2 1.5

(5) Interest Income and Inter_2

(5) Interest Income and Interest Expense (Tables)	3 Months Ended
	Mar. 31, 2021
Interest Income And Interest Expense
Schedule of interest income	Schedule of interest income Three Months Ended March 31, 2021 2020 (In thousands) Interest on finance receivables $ 22,099 $ 37,807 Interest on finance receivables at fair value 43,988 40,806 Mark to finance receivables measured at fair value (4,417 ) (10,350 ) Other interest income 6 523 Interest income $ 61,676 $ 68,786
Schedule of interest expense	Schedule of interest expense Three Months Ended March 31, 2021 2020 (In thousands) Securitization trust debt $ 18,453 $ 23,798 Warehouse lines of credit 1,314 1,763 Residual interest financing 566 938 Subordinated renewable notes 613 492 Interest expense $ 20,946 $ 26,991

(6) Earnings Per Share (Tables)

(6) Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings per share:
Computation of earnings per share	Computation of earnings per share Three Months Ended March 31, 2021 2020 (In thousands) Weighted average number of common shares outstanding during the period used to compute basic earnings per share 22,741 22,539 Incremental common shares attributable to exercise of outstanding options and warrants 2,226 1,340 Weighted average number of common shares used to compute diluted earnings per share 24,967 23,879

(9) Fair Value Measurements (Ta

(9) Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of reconciliation of the finance receivables measured at fair value on a recurring basis	Schedule of reconciliation of the finance receivables measured at fair value on a recurring basis Three Months Ended March 31, 2021 2020 (In thousands) Balance at beginning of period $ 1,523,726 $ 1,444,038 Finance receivables at fair value acquired during period 205,459 265,282 Payments received on finance receivables at fair value (156,020 ) (109,558 ) Net interest income accretion on fair value receivables (35,025 ) (29,715 ) Mark to fair value (4,417 ) (10,350 ) Balance at end of period $ 1,533,723 $ 1,559,697
Schedule of finance receivables to their contractual balances	Schedule of finance receivables to their contractual balances March 31, 2021 December 31, 2020 Contractual Fair Contractual Fair Balance Value Balance Value (In thousands) Finance receivables measured at fair value $ 1,698,110 $ 1,533,723 $ 1,668,076 $ 1,523,726
Schedule of level 3 fair value measurements	Schedule of level 3 fair value measurements Financial Instrument Fair Values as of Inputs as of March 31, December 31, March 31, December 31, 2021 2020 Unobservable Inputs 2021 2020 (In thousands) Assets: Finance receivables measured at fair value $ 1,533,723 $ 1,523,726 Discount rate 11.0 11.3 10.4 11.1 Cumulative net losses 15.4 18.4 15.3 18.4
Schedule of delinquency status of finance receivables measured at fair value	Schedule of delinquency status of finance receivables measured at fair value March 31, December 31, 2021 2020 (In thousands) Delinquency Status Current $ 1,594,070 $ 1,505,486 31 - 60 days 58,534 96,296 61 - 90 days 20,114 36,436 91 + days 5,378 9,607 Repo 20,014 20,251 $ 1,698,110 $ 1,668,076
Schedule of estimated fair values of financial assets and liabilities	Schedule of estimated fair values of financial assets and liabilities As of March 31, 2021 Financial Instrument (In thousands) Carrying Fair Value Measurements Using: Value Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 9,197 $ 9,197 $ – $ – $ 9,197 Restricted cash and equivalents 159,404 159,404 – – 159,404 Finance receivables, net 337,612 – – 348,892 348,892 Accrued interest receivable 3,744 – – 3,744 3,744 Liabilities: Warehouse lines of credit $ 71,097 $ – $ – $ 71,097 $ 71,097 Accrued interest payable 4,740 – – 4,740 4,740 Securitization trust debt 1,791,583 – – 1,813,370 1,813,370 Subordinated renewable notes 23,740 – – 23,740 23,740 As of December 31, 2020 Financial Instrument (In thousands) Carrying Fair Value Measurements Using: Value Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 13,466 $ 13,466 $ – $ – $ 13,466 Restricted cash and equivalents 130,686 130,686 – – 130,686 Finance receivables, net 411,343 – – 429,972 429,972 Accrued interest receivable 5,017 – – 5,017 5,017 Liabilities: Warehouse lines of credit $ 118,999 $ – $ – $ 118,999 $ 118,999 Accrued interest payable 4,919 – – 4,919 4,919 Securitization trust debt 1,803,673 – – 1,862,630 1,862,630 Subordinated renewable notes 21,323 – – 21,323 21,323

(1) Summary of Significant Ac_4

(1) Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Mark down of receivables portfolio	$ 4,400
Stock-based compensation	408	$ 487
Unrecognized stock-based compensation costs	$ 2,800
Weighted-average period for unrecognized costs	2 years
Intrinsic value options outstanding	$ 10,000
Intrinsic value of options exercisable	$ 7,000
Options exercised	98,000	28,000
Intrinsic value of options exercised	$ 122	$ 51
Shares available for grant	315,000

(1) Summary of Significant Ac_5

(1) Summary of Significant Accounting Policies (Details - Other income) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other income for the period	$ 1,436	$ 1,981
Direct Mail Revenues [Member]
Other income for the period	979	1,183
Convenience Fee Revenue [Member]
Other income for the period	240	530
Recoveries on previously charged-off contracts [Member]
Other income for the period	15	25
Sales Tax Refunds [Member]
Other income for the period	171	202
Other Income [Member]
Other income for the period	$ 31	$ 41

(1) Summary of Significant Ac_6

(1) Summary of Significant Accounting Policies (Details - Supplemental balance sheet information related to leases) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Operating Leases
Operating lease right-of-use assets	$ 23,840	$ 23,735
Less: Accumulated amortization right-of-use assets	(14,257)	(12,792)
Operating lease right-of-use assets, net	9,583	10,943
Operating lease liabilities	(10,643)	(12,096)
Finance Leases
Property and equipment, at cost	3,407	3,407
Less: Accumulated depreciation	(1,507)	(1,226)
Property and equipment, net	1,900	2,181
Finance lease liabilities	$ (1,969)	$ (2,243)
Operating lease	5.00%	5.00%
Finance lease	6.50%	6.50%

(1) Summary of Significant Ac_7

(1) Summary of Significant Accounting Policies (Details - Maturities of lease liabilities) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
2021 (excluding the three months ended March 31, 2021)	$ 5,549
2021 (excluding the three months ended March 31, 2021)	921
2022	6,089
2022	1,051
2023	1,421
2023	84
2024	443
2024	26
2025	305
2025	9
Thereafter	2
Thereafter	0
Total undiscounted lease payments	13,809
Total undiscounted lease payments	2,091
Less amounts representing interest	(3,166)
Less amounts representing interest	(122)
Lease Liability	10,643	$ 12,096
Lease Liability	$ 1,969	$ 2,243

(1) Summary of Significant Ac_8

(1) Summary of Significant Accounting Policies (Details - Lease cost) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accounting Policies [Abstract]
Operating lease cost	$ 1,837	$ 1,885
Finance lease cost	308	278
Total lease cost	$ 2,145	$ 2,163

(1) Summary of Significant Ac_9

(1) Summary of Significant Accounting Policies (Details - Cash flow) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 1,930	$ 1,926
Operating cash flows from finance leases	274	231
Financing cash flows from finance leases	$ 35	$ 46

(1) Summary of Significant A_10

(1) Summary of Significant Accounting Policies (Details - Option activity) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding at the beginning of period	15,977,000
Exercised	(98,000)	(28,000)
Options outstanding at the end of period	15,834,000
Options exercisable at the end of period	12,499,000		12,597,000
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding at the beginning of period	15,977,000
Options outstanding at the beginning of period	$ 4.46
Granted	0
Granted
Exercised	(98,000)
Exercised	$ 3.05
Forfeited	(45,000)
Forfeited	$ 3.65
Options outstanding at the end of period	15,834,000
Options outstanding at the end of period	$ 4.47
Share-based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Remaining Contractual Term	2 years 6 months 29 days
Options exercisable at the end of period	12,499,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 4.82
Share-based Payment Arrangement, Option, Exercise Price Range, Exercisable, Weighted Average Remaining Contractual Term	1 year 10 months 13 days

(1) Summary of Significant A_11

(1) Summary of Significant Accounting Policies (Details - Options outstanding and exercisable) - shares shares in Thousands	Mar. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, outstanding	15,834	15,977
Number of shares, exercisable	12,499	12,597
$0.95 - $1.99 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, outstanding	1,878	1,904
Number of shares, exercisable	1,878	1,904
$2.00 - $2.99 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, outstanding	1,570	1,570
Number of shares, exercisable	180	180
$3.00 - $3.99 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, outstanding	4,863	4,973
Number of shares, exercisable	3,234	3,306
$4.00 - $4.99 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, outstanding	1,533	1,540
Number of shares, exercisable	1,217	1,217
$5.00 - $5.99 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, outstanding	0	0
Number of shares, exercisable	0	0
$6.00 - $6.99 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, outstanding	4,770	4,770
Number of shares, exercisable	4,770	4,770
$7.00 - $7.99 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, outstanding	1,220	1,220
Number of shares, exercisable	1,220	1,220

(1) Summary of Significant A_12

(1) Summary of Significant Accounting Policies (Details - Stock purchases) - Common Stock [Member] - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Equity, Class of Treasury Stock [Line Items]
Total stock purchases, shares	178,731	0
Total stock purchases, average price per share	$ 4.22
Open Market Purchases[Member]
Equity, Class of Treasury Stock [Line Items]
Total stock purchases, shares	138,004	0
Total stock purchases, average price per share	$ 4.18
Residual Interest Financings
Equity, Class of Treasury Stock [Line Items]
Total stock purchases, shares	40,727	0
Total stock purchases, average price per share	$ 4.36

(2) Finance Receivables (Detail

(2) Finance Receivables (Details - Components of Finance Receivables) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Finance receivables
Automobile finance receivables, net of unearned interest	$ 410,623	$ 491,307
Unearned acquisition fees and originations costs	486	826
Finance receivables	$ 411,109	$ 492,133

(2) Finance Receivables (Deta_2

(2) Finance Receivables (Details - Delinquency status) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Total finance receivables with delinquency status	$ 410,623	$ 491,307
Financial Asset, 1 to 29 Days Past Due [Member]
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Finance receivables	360,369	406,693
Financial Asset, 30 to 59 Days Past Due [Member]
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Finance receivables	35,533	56,572
Financial Asset, 60 to 89 Days Past Due [Member]
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Finance receivables	11,683	22,660
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Finance receivables	$ 3,038	$ 5,382

(2) Finance Receivables (Deta_3

(2) Finance Receivables (Details - Amortized Cost Basis) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Amortized cost basis	$ 410,623	$ 491,307
Vintage Pool 2012 [Member]
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Amortized cost basis	427	608
Vintage Pool 2013 [Member]
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Amortized cost basis	3,102	4,483
Vintage Pool 2014 [Member]
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Amortized cost basis	17,169	23,115
Vintage Pool 2015 [Member]
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Amortized cost basis	62,428	78,457
Vintage Pool 2016 [Member]
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Amortized cost basis	136,699	163,677
Vintage Pool 2017 [Member]
FinanceReceivablesDelinquencyStatusLineItems [Line Items]
Amortized cost basis	$ 190,798	$ 220,967

(2) Finance Receivables (Deta_4

(2) Finance Receivables (Details - Summary of activity) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Finance Receivables
Balance at beginning of period	$ 80,790	$ 11,640
Early adoption of CECL	0	127,000
Provision for credit losses on finance receivables	0	3,613
Charge-offs	(12,122)	(34,214)
Recoveries	4,829	6,034
Balance at end of period	$ 73,497	$ 114,073

(2) Finance Receivables (Deta_5

(2) Finance Receivables (Details - Repossessed inventory) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Finance Receivables
Gross balance of repossessions in inventory	$ 10,340	$ 15,589
Allowance for losses on repossessed inventory	(6,816)	(11,790)
Net repossessed inventory included in other assets	$ 3,524	$ 3,799

(2) Finance Receivables (Deta_6

(2) Finance Receivables (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Finance Receivables
Finance receivables, non accrual status	$ 3,000	$ 5,400
Allowance for finance credit losses	$ 127,000

(3) Securitization Trust Debt_2

(3) Securitization Trust Debt (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Dec. 31, 2020
SecuritizationTrustDebtLineItems [Line Items]
Receivables Pledged at end of period	[1]	$ 1,949,099
Initial Principal		5,391,007
Outstanding Principal		1,802,375	$ 1,814,320
Expected finance receivable payments 2021		642,900
Expected finance receivable payments 2022		498,500
Expected finance receivable payments 2023		411,900
Expected finance receivable payments 2024		100,400
Expected finance receivable payments 2025		102,200
Expected finance receivable payments 2026		33,700
Expected finance receivable payments 2027		$ 2,000
CPS 2015-B [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	September 2022
Receivables Pledged at end of period	[1]	$ 0
Initial Principal		250,000
Outstanding Principal		$ 0	17,984
Weighted Average Contractual Interest Rate		0.00%
CPS 2015-C [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	December 2022
Receivables Pledged at end of period	[1]	$ 21,749
Initial Principal		300,000
Outstanding Principal		$ 23,929	28,529
Weighted Average Contractual Interest Rate		6.87%
CPS 2016-A [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	March 2023
Receivables Pledged at end of period	[1]	$ 28,459
Initial Principal		329,460
Outstanding Principal		$ 30,958	37,158
Weighted Average Contractual Interest Rate		7.65%
CPS 2016-B [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	June 2023
Receivables Pledged at end of period	[1]	$ 37,418
Initial Principal		332,690
Outstanding Principal		$ 38,724	46,079
Weighted Average Contractual Interest Rate		7.58%
CPS 2016-C [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	September 2023
Receivables Pledged at end of period	[1]	$ 39,455
Initial Principal		318,500
Outstanding Principal		$ 40,046	47,325
Weighted Average Contractual Interest Rate		7.82%
CPS 2016-D [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	April 2024
Receivables Pledged at end of period	[1]	$ 32,599
Initial Principal		206,325
Outstanding Principal		$ 30,753	36,455
Weighted Average Contractual Interest Rate		6.05%
CPS 2017-A [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	April 2024
Receivables Pledged at end of period	[1]	$ 36,408
Initial Principal		206,320
Outstanding Principal		$ 34,412	40,619
Weighted Average Contractual Interest Rate		6.04%
CPS 2017-B [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	December 2023
Receivables Pledged at end of period	[1]	$ 46,080
Initial Principal		225,170
Outstanding Principal		$ 31,951	39,016
Weighted Average Contractual Interest Rate		5.23%
CPS 2017-C [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	September 2024
Receivables Pledged at end of period	[1]	$ 48,489
Initial Principal		224,825
Outstanding Principal		$ 41,953	47,553
Weighted Average Contractual Interest Rate		4.95%
CPS 2017-D [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	June 2024
Receivables Pledged at end of period	[1]	$ 50,010
Initial Principal		196,300
Outstanding Principal		$ 43,273	49,297
Weighted Average Contractual Interest Rate		4.48%
CPS 2018-A [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	March 2025
Receivables Pledged at end of period	[1]	$ 54,744
Initial Principal		190,000
Outstanding Principal		$ 47,230	53,549
Weighted Average Contractual Interest Rate		4.25%
CPS 2018-B [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	December 2024
Receivables Pledged at end of period	[1]	$ 65,851
Initial Principal		201,823
Outstanding Principal		$ 58,112	66,955
Weighted Average Contractual Interest Rate		4.65%
CPS 2018-C [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	September 2025
Receivables Pledged at end of period	[1]	$ 76,364
Initial Principal		230,275
Outstanding Principal		$ 68,625	77,345
Weighted Average Contractual Interest Rate		4.74%
CPS 2018-D [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	June 2025
Receivables Pledged at end of period	[1]	$ 91,484
Initial Principal		233,730
Outstanding Principal		$ 78,446	88,228
Weighted Average Contractual Interest Rate		4.68%
CPS 2019-A [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	March 2026
Receivables Pledged at end of period	[1]	$ 115,227
Initial Principal		254,400
Outstanding Principal		$ 99,017	114,373
Weighted Average Contractual Interest Rate		4.50%
CPS 2019-B [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	June 2026
Receivables Pledged at end of period	[1]	$ 113,420
Initial Principal		228,275
Outstanding Principal		$ 105,045	118,982
Weighted Average Contractual Interest Rate		4.06%
CPS 2019-C [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	September 2026
Receivables Pledged at end of period	[1]	$ 133,374
Initial Principal		243,513
Outstanding Principal		$ 125,430	142,080
Weighted Average Contractual Interest Rate		3.35%
CPS 2019-D [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	December 2026
Receivables Pledged at end of period	[1]	$ 168,358
Initial Principal		274,313
Outstanding Principal		$ 160,999	181,485
Weighted Average Contractual Interest Rate		2.88%
CPS 2020-A [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	March 2027
Receivables Pledged at end of period	[1]	$ 165,519
Initial Principal		260,000
Outstanding Principal		$ 163,649	184,944
Weighted Average Contractual Interest Rate		2.89%
CPS 2020-B [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	June 2027
Receivables Pledged at end of period	[1]	$ 168,416
Initial Principal		202,343
Outstanding Principal		$ 147,587	164,403
Weighted Average Contractual Interest Rate		3.31%
CPS 2020-C [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	November 2027
Receivables Pledged at end of period	[1]	$ 223,358
Initial Principal		252,200
Outstanding Principal		$ 214,018	231,961
Weighted Average Contractual Interest Rate		1.75%
CPS 2021-A [Member]
SecuritizationTrustDebtLineItems [Line Items]
Final Scheduled Payment Date	[2]	March 2028
Receivables Pledged at end of period	[1]	$ 232,317
Initial Principal		230,545
Outstanding Principal		$ 218,218	$ 0
Weighted Average Contractual Interest Rate		0.77%
[1]	Includes repossessed assets that are included in Other assets on our Unaudited Condensed Consolidated Balance Sheet.
[2]	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 $ 642.9 498.5 411.9 100.4 102.2 33.7 2.0

(3) Securitization Trust Debt_3

(3) Securitization Trust Debt (Details Narrative) - USD ($) $ in Thousands		Apr. 28, 2021	Mar. 31, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Debt issuance costs			$ 10,800	$ 10,600
Restricted cash under various agreements			159,400
Initial Principal			5,391,007
Receivables Pledged at end of period	[1]		$ 1,949,099
Subsequent Event [Member] | CPS 2021-B
Subsequent Event [Line Items]
Initial Principal		$ 240,000
Receivables Pledged at end of period		$ 240,000
Weighted Average Contractual Interest Rate		1.65%
[1]	Includes repossessed assets that are included in Other assets on our Unaudited Condensed Consolidated Balance Sheet.

(4) Debt (Details - Debt outsta

(4) Debt (Details - Debt outstanding) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Warehouse lines of credit	$ 71,097	$ 118,999
Residual interest financing	20,540	25,426
Subordinated renewable notes	23,740	21,323
Total debt outstanding	$ 116,593	167,411
Warehouse lines of credit [Member]
Line of Credit Facility [Line Items]
Interest rate	5.50% over one month Libor (Minimum 6.50%)
Warehouse lines of credit	$ 0	42,558
Warehouse lines of credit (2) [Member]
Line of Credit Facility [Line Items]
Interest rate	3.00% over one month Libor (Minimum 3.75%)
Warehouse lines of credit	$ 44,956	45,689
Maturity date description	December 2022
Warehouse lines of credit (3) [Member]
Line of Credit Facility [Line Items]
Interest rate	4.00% over a commercial paper rate (Minimum 5.00%)
Warehouse lines of credit	$ 27,300	32,265
Maturity date description	December 2021
Residual interest financing [Member]
Line of Credit Facility [Line Items]
Maturity date description	January 2026
Interest rate	8.60%
Residual interest financing	$ 20,597	25,576
Subordinated renewable notes [Member]
Line of Credit Facility [Line Items]
Interest rate	Weighted average rate of 9.92% and 10.09% at March 31, 2021 and December 31, 2020, respectively
Maturity date description	Weighted average maturity of March 2023 and January 2023 at March 31, 2021 and December 31, 2020, respectively
Subordinated renewable notes	$ 23,740	$ 21,323

(4) Debt (Details Narrative)

(4) Debt (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Short term credit facility	$ 200,000	$ 300,000
Warehouse Lines Of Credit [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs	1,200	1,500
Residual Interest Financings
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ 57	$ 150

(5) Interest Income and Inter_3

(5) Interest Income and Interest Expense (Details - Interest income) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest Income And Interest Expense
Interest on finance receivables	$ 22,099	$ 37,807
Interest on finance receivables at fair value	43,988	40,806
Mark to finance receivables measured at fair value	(4,417)	(10,350)
Other interest income	6	523
Interest income	$ 61,676	$ 68,786

(5) Interest Income and Inter_4

(5) Interest Income and Interest Expense (Details - Interest expense) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
ComponentsOfInterestExpenseLineItems [Line Items]
Total interest expense	$ 20,946	$ 26,991
Securitization Trust Debt [Member]
ComponentsOfInterestExpenseLineItems [Line Items]
Total interest expense	18,453	23,798
Warehouse Lines Of Credit [Member]
ComponentsOfInterestExpenseLineItems [Line Items]
Total interest expense	1,314	1,763
Residual interest financing [Member]
ComponentsOfInterestExpenseLineItems [Line Items]
Total interest expense	566	938
Subordinated renewable notes [Member]
ComponentsOfInterestExpenseLineItems [Line Items]
Total interest expense	$ 613	$ 492

(6) Earnings Per Share (Details

(6) Earnings Per Share (Details - Earnings Per Share) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings per share:
Weighted average number of common shares outstanding during the period used to compute basic earnings per share	22,741	22,539
Incremental common shares attributable to exercise of outstanding options and warrants	2,226	1,340
Weighted average number of common shares used to compute diluted earnings per share	24,967	23,879

(6) Earnings Per Share (Detai_2

(6) Earnings Per Share (Details Narrative) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings per share:
Antidilutive shares	7,500	12,900

(7) Income Taxes (Details Narra

(7) Income Taxes (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
IncomeTaxesLineItems [Line Items]
Current tax benefit		$ 8,800
Unrecognized Tax Benefits	$ 0		$ 0
Net deferred tax asset	27,500
Income Tax Expense (Benefit)	$ 2,780	$ (7,680)
Effective tax rate	35.00%	36.00%
Domestic Tax Authority [Member]
IncomeTaxesLineItems [Line Items]
Net deferred tax asset	$ 16,200
State and Local Jurisdiction [Member]
IncomeTaxesLineItems [Line Items]
Net deferred tax asset	$ 11,300

(9) Fair Value Measurements (De

(9) Fair Value Measurements (Details - Reconciliation of Finance Receivables) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Balance at beginning of period	$ 1,523,726	$ 1,444,038
Finance receivables at fair value acquired during period	205,459	265,282
Payments received on finance receivables at fair value	(156,020)	(109,558)
Net interest income accretion on fair value receivables	(35,025)	(29,715)
Mark to fair value	(4,417)	(10,350)
Balance at end of period	$ 1,533,723	$ 1,559,697

(9) Fair Value Measurements (_2

(9) Fair Value Measurements (Details - Finance Receivables to Their Contractual Balances) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finance receivables measured at fair value	$ 1,533,723	$ 1,523,726	$ 1,559,697	$ 1,444,038
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finance receivables measured at fair value	1,698,110	1,668,076
Portion at Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finance receivables measured at fair value	$ 1,533,723	$ 1,523,726

(9) Fair Value Measurements (_3

(9) Fair Value Measurements (Details - Level 3 Fair Value Measurements) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Finance receivables measured at fair value	$ 1,533,723	$ 1,523,726	$ 1,559,697	$ 1,444,038
Portion at Fair Value Measurement [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Finance receivables measured at fair value	1,533,723	1,523,726
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Finance receivables measured at fair value	$ 1,533,723	$ 1,523,726
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	11.00%	10.40%
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Discount Rate [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	11.30%	11.10%
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input Cumulative Net Lossese [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	15.40%	15.30%
Portion at Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input Cumulative Net Lossese [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	18.40%	18.40%

(9) Fair Value Measurements (_4

(9) Fair Value Measurements (Details - Delinquency status) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
FinanceReceivablesLineItems [Line Items]
Securitization Trust Debt [Member]	$ 1,594,070	$ 1,505,486
Initial Principal	1,698,110	1,668,076
Financial Asset, 30 to 59 Days Past Due [Member]
FinanceReceivablesLineItems [Line Items]
Initial Principal	58,534	96,296
Financial Asset, 60 to 89 Days Past Due [Member]
FinanceReceivablesLineItems [Line Items]
Initial Principal	20,114	36,436
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
FinanceReceivablesLineItems [Line Items]
Initial Principal	5,378	9,607
Repossessed Vehicles
FinanceReceivablesLineItems [Line Items]
Initial Principal	$ 20,014	$ 20,251

(9) Fair Value Measurements (_5

(9) Fair Value Measurements (Details - Fair values) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets:
Cash and cash equivalents	$ 9,197	$ 13,466
Restricted cash and equivalents	159,404	130,686
Finance receivables, net	348,892	429,972
Accrued interest receivable	3,744	5,017
Liabilities:
Warehouse lines of credit	71,097	118,999
Accrued interest payable	4,740	4,919
Securitization trust debt	1,813,370	1,862,630
Subordinated renewable notes	23,740	21,323
Fair Value, Inputs, Level 1 [Member]
Assets:
Cash and cash equivalents	9,197	13,466
Restricted cash and equivalents	159,404	130,686
Finance receivables, net	0	0
Accrued interest receivable	0	0
Liabilities:
Warehouse lines of credit	0	0
Accrued interest payable	0	0
Securitization trust debt	0	0
Subordinated renewable notes	0	0
Fair Value, Inputs, Level 2 [Member]
Assets:
Cash and cash equivalents	0	0
Restricted cash and equivalents	0	0
Finance receivables, net	0	0
Accrued interest receivable	0	0
Liabilities:
Warehouse lines of credit	0	0
Accrued interest payable	0	0
Securitization trust debt	0	0
Subordinated renewable notes	0	0
Fair Value, Inputs, Level 3 [Member]
Assets:
Cash and cash equivalents	0	0
Restricted cash and equivalents	0	0
Finance receivables, net	348,892	429,972
Accrued interest receivable	3,744	5,017
Liabilities:
Warehouse lines of credit	71,097	118,999
Accrued interest payable	4,740	4,919
Securitization trust debt	1,813,370	1,862,630
Subordinated renewable notes	23,740	21,323
Carrying Value [Member]
Assets:
Cash and cash equivalents	9,197	13,466
Restricted cash and equivalents	159,404	130,686
Finance receivables, net	337,612	411,343
Accrued interest receivable	3,744	5,017
Liabilities:
Warehouse lines of credit	71,097	118,999
Accrued interest payable	4,740	4,919
Securitization trust debt	1,791,583	1,803,673
Subordinated renewable notes	$ 23,740	$ 21,323

(9) Fair Value Measurements (_6

(9) Fair Value Measurements (Details Narrative) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Inventory [Line Items]
Receivables portfolio mark down	$ 4,400
Gross balance of repossessions in inventory	10,340	$ 15,589
Allowance for losses on repossessed inventory	$ (6,816)	(11,790)
Recovery rate	34.00%
Net repossessed inventory included in other assets	$ 3,524	3,799
Repossessed Vehicles
Inventory [Line Items]
Gross balance of repossessions in inventory	10,340
Allowance for losses on repossessed inventory	6,800	11,800
Net repossessed inventory included in other assets	$ 3,500	$ 3,800