Consumer Portfolio Services (CPSS) 10-Q 9 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
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	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		21,120,270

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 8,306	$ 13,490
Restricted cash and equivalents	133,787	149,299
Finance receivables measured at fair value	2,671,540	2,476,617
Finance receivables	38,493	92,304
Less: Allowance for finance credit losses	(4,228)	(21,753)
Finance receivables, net	34,265	70,551
Furniture and equipment, net	1,295	1,660
Deferred tax assets, net	5,763	10,177
Other assets	25,892	30,974
Total Assets	2,880,848	2,752,768
Liabilities
Accounts payable and accrued expenses	62,309	55,421
Warehouse lines of credit	240,384	285,328
Residual interest financing	49,812	49,623
Securitization trust debt	2,243,284	2,108,744
Subordinated renewable notes	19,163	25,263
Total liabilities	2,614,952	2,524,379
COMMITMENTS AND CONTINGENCIES
Shareholders' Equity
Common stock, no par value; authorized 75,000,000 shares; 21,113,152 and 20,131,323 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively	28,257	28,906
Retained earnings	240,670	202,514
Accumulated other comprehensive loss	(3,031)	(3,031)
Total stockholders’ equity	265,896	228,389
Total liability and stockholder’ equity	2,880,848	2,752,768
Preferred Stock [Member]
Shareholders' Equity
Preferred stock, value	0	0
Series A Preferred Stock [Member]
Shareholders' Equity
Preferred stock, value	0	0
Series B Preferred Stock [Member]
Shareholders' Equity
Preferred stock, value	$ 0	$ 0

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	4,998,130	4,998,130
Preferred stock, shares issued	0	0
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	21,113,152	20,131,323
Common stock, shares outstanding	21,113,152	20,131,323
Series A Preferred Stock [Member]
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Series B Preferred Stock [Member]
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	1,870	1,870
Preferred stock, shares issued	0	0

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Interest income	$ 83,261	$ 79,817	$ 245,960	$ 225,547
Mark to finance receivables measured at fair value	6,000	8,183	6,000	15,283
Other income	2,818	2,305	8,077	5,859
Total revenues	92,079	90,305	260,037	246,689
Expenses:
Employee costs	21,812	20,671	64,991	63,414
General and administrative	13,045	9,408	36,224	25,920
Interest	37,889	23,483	106,354	58,654
Provision for credit losses	(2,000)	(6,000)	(20,700)	(23,400)
Sales	5,330	5,962	16,517	17,186
Occupancy	1,586	2,031	4,756	5,820
Depreciation and amortization	199	406	642	1,207
Total operating expenses	77,861	55,961	208,784	148,801
Income before income tax expense	14,218	34,344	51,253	97,888
Income tax expense	3,839	8,931	13,097	26,040
Net income	$ 10,379	$ 25,413	$ 38,156	$ 71,848
Earnings per share:
Basic	$ 0.49	$ 1.22	$ 1.83	$ 3.39
Diluted	$ 0.41	$ 0.95	$ 1.51	$ 2.61
Number of shares used in computing earnings per share:
Basic	21,154	20,911	20,815	21,166
Diluted	25,218	26,654	25,331	27,512

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Net income	$ 10,379	$ 25,413	$ 38,156	$ 71,848
Other comprehensive income/(loss); change in funded status of pension plan	0	0	0	0
Comprehensive income	$ 10,379	$ 25,413	$ 38,156	$ 71,848

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 38,156	$ 71,848
Adjustments to reconcile net income to net cash provided by operating activities:
Net interest income accretion on fair value receivables	143,949	97,462
Depreciation and amortization	642	1,207
Amortization of deferred financing costs	7,264	5,860
Mark to finance receivables measured at fair value	(6,000)	(15,283)
Provision for credit losses	(20,700)	(23,400)
Stock-based compensation expense	2,634	2,966
Changes in assets and liabilities:
Deferred tax assets, net	4,414	5,005
Other assets	4,671	5,252
Accounts payable and accrued expenses	6,888	13,827
Net cash provided by operating activities	181,918	164,744
Cash flows from investing activities:
Payments received on finance receivables held for investment	56,986	109,894
Purchases of finance receivables measured at fair value	(958,587)	(1,311,735)
Payments received on finance receivables at fair value	625,715	635,401
Change in repossessions held in inventory	411	1,694
Purchase of furniture and equipment	(277)	(1,778)
Net cash used in investing activities	(275,752)	(566,524)
Cash flows from financing activities:
Proceeds from issuance of securitization trust debt	949,385	1,104,000
Proceeds from issuance of subordinated renewable notes	0	4,004
Payments on subordinated renewable notes	(6,100)	(3,214)
Net proceeds from (repayments of) warehouse lines of credit	(46,407)	139,477
Net proceeds from (repayment of) residual interest financing debt	0	(4,311)
Repayment of securitization trust debt	(814,473)	(804,774)
Payment of financing costs	(5,984)	(10,407)
Purchase of common stock	(19,116)	(41,535)
Exercise of options and warrants	15,833	14,698
Net cash provided by financing activities	73,138	397,938
Increase in cash and cash equivalents	(20,696)	(3,842)
Cash and restricted cash at beginning of period	162,789	176,548
Cash and restricted cash at end of period	142,093	172,706
Cash paid during the period for:
Interest	97,812	51,300
Income taxes	$ 4,389	$ 13,977

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, beginning of period, shares at Dec. 31, 2021	21,144
Balance, beginning of period at Dec. 31, 2021	$ 55,298	$ 116,531	$ (1,622)
Pension benefit obligation
Common stock issued upon exercise of options and warrants, shares	2,974
Repurchase of common stock, shares	(3,511)
Common stock issued upon exercise of options and warrants	$ 14,698
Repurchase of common stock	(41,535)
Stock-based compensation	$ 2,966
Net income		71,848		71,848
Balance, beginning of period, shares at Sep. 30, 2022	20,607
Balance, end of period at Sep. 30, 2022	$ 31,427	188,379	(1,622)	218,184
Balance, beginning of period, shares at Jun. 30, 2022	21,207
Balance, beginning of period at Jun. 30, 2022	$ 36,947	162,966	(1,622)
Pension benefit obligation
Common stock issued upon exercise of options and warrants, shares	79
Repurchase of common stock, shares	(679)
Common stock issued upon exercise of options and warrants	$ 282
Repurchase of common stock	(7,250)
Stock-based compensation	$ 1,448
Net income		25,413		25,413
Balance, beginning of period, shares at Sep. 30, 2022	20,607
Balance, end of period at Sep. 30, 2022	$ 31,427	188,379	(1,622)	218,184
Balance, beginning of period, shares at Dec. 31, 2022	20,131
Balance, beginning of period at Dec. 31, 2022	$ 28,906	202,514	(3,031)	228,389
Pension benefit obligation
Common stock issued upon exercise of options and warrants, shares	2,832
Repurchase of common stock, shares	(1,850)
Common stock issued upon exercise of options and warrants	$ 15,833
Repurchase of common stock	(19,116)
Stock-based compensation	$ 2,634
Net income		38,156		38,156
Balance, beginning of period, shares at Sep. 30, 2023	21,113
Balance, end of period at Sep. 30, 2023	$ 28,257	240,670	(3,031)	265,896
Balance, beginning of period, shares at Jun. 30, 2023	21,152
Balance, beginning of period at Jun. 30, 2023	$ 27,937	230,291	(3,031)
Pension benefit obligation
Common stock issued upon exercise of options and warrants, shares	27
Repurchase of common stock, shares	(66)
Common stock issued upon exercise of options and warrants	$ 155
Repurchase of common stock	(652)
Stock-based compensation	$ 817
Net income		10,379		10,379
Balance, beginning of period, shares at Sep. 30, 2023	21,113
Balance, end of period at Sep. 30, 2023	$ 28,257	$ 240,670	$ (3,031)	$ 265,896

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
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 nine-month period ended September 30, 2023 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, 2022. 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. 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 and nine-month periods ending September 30, 2023 and 2022: Schedule of other income Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Origination and servicing fees from third party receivables $ 2,546 $ 2,016 $ 7,207 $ 4,268 Direct mail revenues – – – 774 Sales tax refunds 256 209 780 512 Other 16 80 90 305 Other income for the period $ 2,818 $ 2,305 $ 8,077 $ 5,859 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: Schedule of supplemental balance sheet information related to leases September 30, December 31, 2023 2022 (In thousands) Operating Leases Operating lease right-of-use assets $ 29,575 $ 28,397 Less: Accumulated amortization right-of-use assets (25,673 ) (22,613 ) Operating lease right-of-use assets, net $ 3,902 $ 5,784 Operating lease liabilities $ (4,222 ) $ (6,234 ) Finance Leases Property and equipment, at cost $ 3,454 $ 3,407 Less: Accumulated depreciation (3,373 ) (3,301 ) Property and equipment, net $ 81 $ 106 Finance lease liabilities $ (85 ) $ (177 ) Weighted Average Discount Rate Operating lease 5.0 % 5.0 % Finance lease 6.5 % 6.5 % Maturities of lease liabilities were as follows: Schedule of maturities of lease liabilities (In thousands) Operating Finance Year Ending September 30, Lease Lease 2023 $ 1,365 $ 12 2024 1,787 37 2025 737 20 2026 455 11 2027 452 11 Thereafter 565 1 Total undiscounted lease payments 5,361 92 Less amounts representing interest (1,139 ) (7 ) Lease Liability $ 4,222 $ 85 The following table presents the lease expense included in General and administrative and Occupancy expense on our Unaudited Condensed Consolidated Statement of Operations: Schedule of lease information Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Operating lease cost $ 1,410 $ 1,767 $ 4,181 $ 5,288 Finance lease cost 18 257 144 813 Total lease cost $ 1,428 $ 2,024 $ 4,325 $ 6,101 The following table presents the supplemental cash flow information related to leases: Schedule of supplemental cash flow information related to leases Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,410 $ 1,921 $ 4,181 $ 5,616 Operating cash flows from finance leases 17 249 139 776 Financing cash flows from finance leases 1 8 5 36 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 and nine months ended September 30, 2023, we recorded stock-based compensation costs in the amount of $ 816,000 2.6 1.4 3 6.8 2.0 The following represents stock option activity for the nine months ended September 30, 2023: Schedule of option activity Weighted Number of Weighted Average Shares Average Remaining (in thousands) Exercise Price Contractual Term Options outstanding at the beginning of period 11,167 $ 5.21 N/A Granted – – N/A Exercised (2,832 ) 5.59 N/A Forfeited – – N/A Options outstanding at the end of period 8,335 $ 5.08 3.36 Options exercisable at the end of period 6,250 $ 4.30 2.80 The following table presents the price distribution of stock options outstanding and exercisable for the years ended September 30, 2023 and December 31, 2022: Schedule of stock options outstanding and exercisable Number of shares as of Number of shares as of September 30, 2023 December 31, 2022 Outstanding Exercisable Outstanding Exercisable (In thousands) (In thousands) Range of exercise prices: $2.00 - $2.99 1,440 1,105 1,445 775 $3.00 - $3.99 2,533 2,533 3,785 3,495 $4.00 - $4.99 2,659 2,034 2,739 1,802 $5.00 - $5.99 – – – – $6.00 - $6.99 – – 740 740 $7.00 - $7.99 – – 748 748 $10.00 - $10.99 1,703 578 1,710 210 Total shares 8,335 6,250 11,167 7,770 At September 30, 2023 the aggregate intrinsic value of options outstanding and exercisable was $ 35.3 30.5 2.8 3 13.5 23.1 2,661,000 Purchases of Company Stock The table below describes the purchase of our common stock for the nine-month ended September 30, 2023 and 2022: Schedule of purchases of company stock Nine Months Ended September 30, 2023 September 30, 2022 Shares Avg. Price Shares Avg. Price Open market purchases 625,887 $ 11.20 2,617,548 $ 11.20 Shares redeemed upon net exercise of stock options 1,224,673 13.56 893,153 13.56 Total stock purchases 1,850,560 $ 11.80 3,510,701 $ 11.80 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 September 30, 2023, 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. Adoption of New Accounting Standards In March 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2022-02, known as the Financial Instruments – Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures. ASU 2022-02 eliminates the accounting guidance for TDRs in ASC 310-40 on troubled debt restructurings for entities that have adopted the CECL model introduced by ASU 2016-13, Current Expected Credit Loss. ASU 2022-02 also requires that public business entities disclose current-period gross charge offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments – Credit Losses – Measured at Amortized Cost. This guidance is effective for fiscal years beginning after December 15, 2022, and the adoption of this guidance did not have a material impact on the condensed consolidated financial statements.

Finance Receivables

Finance Receivables	9 Months Ended
	Sep. 30, 2023
Finance Receivables
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. 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. Automobile finance receivables, net of unearned interest was $ 38.5 92.3 Schedule of delinquency status of finance receivables September 30, December 31, 2023 2022 (In thousands) Delinquency Status Current $ 25,805 $ 65,764 31-60 days 7,167 16,796 61-90 days 4,086 7,756 90+ days 1,435 1,988 Balance at end of period $ 38,493 $ 92,304 Finance receivables totaling $ 1.4 2.0 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. The following table presents the amortized cost basis of our finance receivables by annual vintage as of September 30, 2023 and December 31, 2022. Schedule of amortized cost basis of finance receivables September 30, December 31, 2023 2022 (In thousands) Annual Vintage Pool 2014 and prior $ 595 $ 1,865 2015 2,748 8,627 2016 11,243 28,632 2017 23,907 53,180 $ 38,493 $ 92,304 The following table presents a summary of the activity for the allowance for finance credit losses for the three-month and nine-month periods ended September 30, 2023 and 2022: Schedule of allowance for finance credit losses Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Balance at beginning of period $ 5,721 $ 35,672 $ 21,753 $ 56,206 Provision for credit losses on finance receivables (2,000 ) (6,000 ) (20,700 ) (23,400 ) Charge-offs (1,477 ) (4,375 ) (6,391 ) (14,181 ) Recoveries 1,984 2,699 9,566 9,371 Balance at end of period $ 4,228 $ 27,996 $ 4,228 $ 27,996 The following table presents the gross charge-offs by year of origination of our finance receivables for the three-month and nine-month ended September 30, 2023 and 2022: Schedule of charge-offs for financed receivables Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Annual Vintage Pool (In thousands) (In thousands) 2014 and prior $ 43 $ 261 $ 251 $ 795 2015 129 602 870 2,343 2016 568 1,598 2,602 5,136 2017 948 2,072 3,548 6,304 Applied against repos in inventory (net) (211 ) (158 ) (880 ) (397 ) $ 1,477 $ 4,375 $ 6,391 $ 14,181 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 September 30, December 31, 2023 2022 (In thousands) Gross balance of repossessions in inventory $ 604 $ 1,894 Allowance for losses on repossessed inventory (444 ) (1,323 ) Net repossessed inventory included in other assets $ 160 $ 571

Securitization Trust Debt

Securitization Trust Debt	9 Months Ended
	Sep. 30, 2023
Securitization Trust Debt
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: Schedule of securitization trust debt Weighted Average Final Receivables Outstanding Outstanding Contractual Debt Scheduled Pledged at Principal at Principal at Interest Rate at Payment September 30, Initial September 30, December 31, September 30, Series Date (1) 2023 (2) Principal 2023 2022 2023 (Dollars in thousands) CPS 2018-A March 2025 $ – $ 190,000 $ – $ 12,939 – CPS 2018-B December 2024 – 201,823 – 17,077 – CPS 2018-C September 2025 – 230,275 – 20,222 0.00 % CPS 2018-D June 2025 – 233,730 – 25,563 0.00 % CPS 2019-A March 2026 21,838 254,400 16,739 32,898 5.81 % CPS 2019-B June 2026 24,211 228,275 19,935 33,897 5.82 % CPS 2019-C September 2026 29,160 243,513 24,635 41,515 4.90 % CPS 2019-D December 2026 38,268 274,313 33,693 53,625 4.28 % CPS 2020-A March 2027 36,578 260,000 31,769 52,705 4.67 % CPS 2020-B June 2027 42,170 202,343 27,649 41,736 6.88 % CPS 2020-C November 2027 58,424 252,200 49,298 72,894 3.81 % CPS 2021-A March 2028 62,378 230,545 44,128 72,076 1.74 % CPS 2021-B June 2028 78,721 240,000 65,432 101,206 2.31 % CPS 2021-C September 2028 117,555 291,000 98,915 147,593 1.92 % CPS 2021-D December 2028 160,217 349,202 143,583 209,277 2.36 % CPS 2022-A April 2029 177,253 316,800 155,921 222,613 2.65 % CPS 2022-B October 2029 267,738 395,600 237,944 325,907 4.64 % CPS 2022-C April 2030 304,257 391,600 255,748 346,714 5.62 % CPS 2022-D June 2030 255,071 307,018 227,124 292,461 7.73 % CPS 2023-A August 2030 177,253 324,768 255,056 – 6.25 % CPS 2023-B November 2030 267,738 332,885 293,825 – 6.53 % CPS 2023-C February 2031 304,257 291,732 276,438 – 6.61 % $ 2,423,087 $ 6,042,022 $ 2,257,832 $ 2,122,918 _________________ (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 $ 201 844.3 529.7 317.1 206.2 119 26 (2) Includes repossessed assets that are included in Other assets on our Unaudited Condensed Consolidated Balance Sheet. Debt issuance costs of $ 14.5 14.2 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 September 30, 2023, 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 September 30, 2023, restricted cash under the various agreements totaled approximately $ 142.1 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.

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	(4) Debt The terms and amounts of our other debt outstanding at September 30, 2023 and December 31, 2022 are summarized below: Schedule of debt outstanding Amount Outstanding at September 30, December 31, 2023 2022 (In thousands) Description Interest Rate Maturity Warehouse lines of credit 3.00% over one month Libor (Minimum 3.75%) 8.59% and 7.48% at September 30, 2023 and December 31, 2022, respectively July 2024 $ 163,462 $ 150,293 4.15% over a commercial paper rate (Minimum 5.15%) 9.60% and 8.60% at September 30, 2023, and December 31, 2022, respectively January 2024 78,009 137,585 Residual interest financing 7.86 June 2026 50,000 50,000 Subordinated renewable notes Weighted average rate of 8.16% and 7.82% at September 30, 2023 and December 31, 2022, respectively Weighted average maturity of July 2025 and October 2024 at September 30, 2023 and December 31, 2022, respectively 19,163 25,263 $ 310,634 $ 363,141 On February 2, 2022, we renewed our two-year revolving credit agreement with Ares Agent Services, L.P. There was $ 163.5 100 200 On July 15, 2022, we renewed our two-year revolving credit agreement with Citibank, N.A., and doubled the capacity from $ 100 200 78.0 Unamortized debt issuance costs of $ 188,000 377,000 1.1 2.6

Interest Income and Interest Ex

Interest Income and Interest Expense	9 Months Ended
	Sep. 30, 2023
Interest Income And Interest Expense
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 Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Interest on finance receivables $ 3,769 $ 7,620 $ 12,809 $ 28,766 Interest on finance receivables at fair value 77,848 71,734 228,641 196,204 Other interest income 1,644 463 4,510 577 Interest income $ 83,261 $ 79,817 $ 245,960 $ 225,547 The following table presents the components of interest expense: Schedule of interest expense Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Securitization trust debt $ 31,734 $ 18,519 $ 87,258 $ 47,792 Warehouse lines of credit 4,665 3,342 14,521 5,887 Residual interest financing 1,050 1,050 3,149 3,193 Subordinated renewable notes 440 572 1,426 1,782 Interest expense $ 37,889 $ 23,483 $ 106,354 $ 58,654

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2023
Earnings per share:
Earnings Per Share	(6) Earnings Per Share Earnings per share for the three-month and nine-month periods ended September 30, 2023 and 2022 were calculated using the weighted average number of shares outstanding for the related period. The following table reconciles the number of shares used in the computations of basic and diluted earnings per share for the three-month and nine-month periods ended September 30, 2023 and 2022: Schedule of earnings per share Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Weighted average number of common shares outstanding during the period used to compute basic earnings per share 21,154 20,911 20,815 21,166 Incremental common shares attributable to exercise of outstanding options and warrants 4,064 5,743 4,516 6,346 Weighted average number of common shares used to compute diluted earnings per share 25,218 26,654 25,331 27,512 If the anti-dilutive effects of common stock equivalents were considered, shares included in the diluted earnings per share calculation for the three-month and nine-month periods ended September 30, 2023 would have included an additional 1.5 1.5 1.7 1

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
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 2015. As of September 30, 2023, and December 31, 2022, we had no unrecognized tax benefits for uncertain tax positions. We do not anticipate that total unrecognized tax benefits will significantly change due to any settlements of audits or expirations of statutes of limitations over the next 12 months. The Company and its subsidiaries file a consolidated federal income tax return and combined or stand-alone state franchise tax returns for certain states. We utilize the asset and liability method of accounting for income taxes, under which deferred income taxes are recognized for the future tax consequences attributable to the differences between the financial statement values of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are recognized subject to management’s judgment that realization is more likely than not. A valuation allowance is recognized for a deferred tax asset if, based on the weight of the available evidence, it is more likely than not that some portion of the deferred tax asset will not be realized. In making such judgments, significant weight is given to evidence that can be objectively verified. Although realization is not assured, we believe that the realization of the recognized net deferred tax asset of $ 5.8 3.5 2.3 Income tax expense was $ 3.8 13.1 27 26 8.9 26.0 26 27

Legal Proceedings

Legal Proceedings	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	(8) Legal Proceedings Consumer Litigation. Following our filing of a complaint for a deficiency judgment in the Superior Court at Waterbury, Connecticut, the defendant filed a cross-claim on October 16, 2019 alleging that our deficiency notices were not compliant with Connecticut law, and seeking relief on behalf of a class of Connecticut obligors whose vehicles we had repossessed. The complaint seeks primarily damages, injunctive relief, waiver of contract deficiencies, and attorney fees and interest. The defendant’s contract provided for resolution of disputes exclusively by arbitration, and exclusively on an individual basis, not a class basis. Nevertheless, in August 2021, the court denied our motion to compel arbitration, without opinion. In April 2022, a motion for certification of a class was filed but has not been ruled upon. It is reasonable to expect that resolution of these claims will be on a class basis. Wage and Hour Claim. Massachusetts Civil Investigative Demand In General. 3.8 7.3 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.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
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 quarter ended September 30, 2023, the Company evaluated 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 did not record a mark down to that portfolio. 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 Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Balance at beginning of period $ 2,618,420 $ 2,174,133 $ 2,476,617 $ 1,749,098 Finance receivables at fair value acquired during period 300,539 407,260 958,587 1,311,735 Payments received on finance receivables at fair value (203,775 ) (209,627 ) (625,715 ) (635,401 ) Net interest income accretion on fair value receivables (49,644 ) (36,696 ) (143,949 ) (97,462 ) Mark to fair value 6,000 8,183 6,000 15,283 Balance at end of period $ 2,671,540 $ 2,343,253 $ 2,671,540 $ 2,343,253 The table below compares the fair values of these finance receivables to their contractual balances for the periods shown: Schedule of finance receivables fair and contractual balances September 30, 2023 December 31, 2022 Contractual Fair Contractual Fair Balance Value Balance Value (In thousands) Finance receivables measured at fair value. $ 2,904,235 $ 2,671,540 $ 2,701,184 $ 2,476,617 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 September 30, December 31, September 30, December 31, 2023 2022 Unobservable Inputs 2023 2022 (In thousands) Assets: Finance receivables measured at fair value $ 2,671,540 $ 2,476,617 Discount rate 11.0% - 11.7% 11.0% - 11.3% Cumulative net losses 10.0% - 21.7% 13.4% - 19.4% The following table summarizes the delinquency status of these finance receivables measured at fair value as of September 30, 2023 and December 31, 2022: Schedule of delinquency status of finance receivables measured at fair value September 30, December 31, 2023 2022 (In thousands) Delinquency Status Current $ 2,525,830 $ 2,375,271 31 - 60 days 192,735 184,968 61 - 90 days 90,847 72,390 91 + days 49,337 29,048 Repo 45,486 39,507 $ 2,904,235 $ 2,701,184 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 September 30, 2023 the finance receivables related to the repossessed vehicles in inventory totaled $ 604,000 444,000 160,000 1.9 1.3 There were no transfers in or out of level 1, level 2 or level 3 assets and liabilities for the three months ended September 30, 2023 and 2022. The estimated fair values of financial assets and liabilities at September 30, 2023 and December 31, 2022, were as follows: Schedule of estimated fair values of financial assets and liabilities As of September 30, 2023 Financial Instrument (In thousands) Carrying Fair Value Measurements Using: Value Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 8,306 $ 8,306 $ – $ – $ 8,306 Restricted cash and equivalents 133,787 133,787 – – 133,787 Finance receivables, net 34,265 – – 25,171 25,171 Accrued interest receivable 284 – – 284 284 Liabilities: Warehouse lines of credit $ 240,384 $ – $ – $ 240,384 $ 240,384 Residual interest financing 49,812 49,812 49,812 Accrued interest payable 7,468 – – 7,468 7,468 Securitization trust debt 2,243,284 – – 2,134,496 2,134,496 Subordinated renewable notes 19,163 – – 19,163 19,163 As of December 31, 2022 Financial Instrument (In thousands) Carrying Fair Value Measurements Using: Value Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 13,490 $ 13,490 $ – $ – $ 13,490 Restricted cash and equivalents 149,299 149,299 – – 149,299 Finance receivables, net 70,551 – – 60,063 60,063 Accrued interest receivable 649 – – 649 649 Liabilities: Warehouse lines of credit $ 285,328 $ – $ – $ 285,328 $ 285,328 Accrued interest payable 6,190 – – 6,190 6,190 Securitization trust debt 2,108,744 – – 1,957,995 1,957,995 Subordinated renewable notes 25,263 – – 25,263 25,263

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	(10) Subsequent Events On October 24, 2023 we executed our fourth securitization of 2023. In the transaction, qualified institutional buyers purchased $286.1 million of asset-backed notes secured by $306.7 million in automobile receivables originated by CPS. The sold notes, issued by CPS Auto Receivables Trust 2023-D, consist of five classes. Ratings of the notes were provided by Standard & Poor’s and DBRS Morningstar, and were based on the structure of the transaction, the historical performance of similar receivables and CPS’s experience as a servicer. The weighted average yield on the notes is approximately 7.89%. The 2023-D transaction has initial credit enhancement consisting of a cash deposit equal to 1.00% of the original receivable pool balance and overcollateralization of 6.70%. The transaction agreements require accelerated payment of principal on the notes to reach overcollateralization of the lesser of 9.70% of the original receivable pool balance, or 26.75% of the then outstanding pool balance. The transaction was a private offering of securities, not registered under the Securities Act of 1933, or any state securities law.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
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 nine-month period ended September 30, 2023 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, 2022.
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. 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 and nine-month periods ending September 30, 2023 and 2022: Schedule of other income Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Origination and servicing fees from third party receivables $ 2,546 $ 2,016 $ 7,207 $ 4,268 Direct mail revenues – – – 774 Sales tax refunds 256 209 780 512 Other 16 80 90 305 Other income for the period $ 2,818 $ 2,305 $ 8,077 $ 5,859
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: Schedule of supplemental balance sheet information related to leases September 30, December 31, 2023 2022 (In thousands) Operating Leases Operating lease right-of-use assets $ 29,575 $ 28,397 Less: Accumulated amortization right-of-use assets (25,673 ) (22,613 ) Operating lease right-of-use assets, net $ 3,902 $ 5,784 Operating lease liabilities $ (4,222 ) $ (6,234 ) Finance Leases Property and equipment, at cost $ 3,454 $ 3,407 Less: Accumulated depreciation (3,373 ) (3,301 ) Property and equipment, net $ 81 $ 106 Finance lease liabilities $ (85 ) $ (177 ) Weighted Average Discount Rate Operating lease 5.0 % 5.0 % Finance lease 6.5 % 6.5 % Maturities of lease liabilities were as follows: Schedule of maturities of lease liabilities (In thousands) Operating Finance Year Ending September 30, Lease Lease 2023 $ 1,365 $ 12 2024 1,787 37 2025 737 20 2026 455 11 2027 452 11 Thereafter 565 1 Total undiscounted lease payments 5,361 92 Less amounts representing interest (1,139 ) (7 ) Lease Liability $ 4,222 $ 85 The following table presents the lease expense included in General and administrative and Occupancy expense on our Unaudited Condensed Consolidated Statement of Operations: Schedule of lease information Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Operating lease cost $ 1,410 $ 1,767 $ 4,181 $ 5,288 Finance lease cost 18 257 144 813 Total lease cost $ 1,428 $ 2,024 $ 4,325 $ 6,101 The following table presents the supplemental cash flow information related to leases: Schedule of supplemental cash flow information related to leases Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,410 $ 1,921 $ 4,181 $ 5,616 Operating cash flows from finance leases 17 249 139 776 Financing cash flows from finance leases 1 8 5 36
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 and nine months ended September 30, 2023, we recorded stock-based compensation costs in the amount of $ 816,000 2.6 1.4 3 6.8 2.0 The following represents stock option activity for the nine months ended September 30, 2023: Schedule of option activity Weighted Number of Weighted Average Shares Average Remaining (in thousands) Exercise Price Contractual Term Options outstanding at the beginning of period 11,167 $ 5.21 N/A Granted – – N/A Exercised (2,832 ) 5.59 N/A Forfeited – – N/A Options outstanding at the end of period 8,335 $ 5.08 3.36 Options exercisable at the end of period 6,250 $ 4.30 2.80 The following table presents the price distribution of stock options outstanding and exercisable for the years ended September 30, 2023 and December 31, 2022: Schedule of stock options outstanding and exercisable Number of shares as of Number of shares as of September 30, 2023 December 31, 2022 Outstanding Exercisable Outstanding Exercisable (In thousands) (In thousands) Range of exercise prices: $2.00 - $2.99 1,440 1,105 1,445 775 $3.00 - $3.99 2,533 2,533 3,785 3,495 $4.00 - $4.99 2,659 2,034 2,739 1,802 $5.00 - $5.99 – – – – $6.00 - $6.99 – – 740 740 $7.00 - $7.99 – – 748 748 $10.00 - $10.99 1,703 578 1,710 210 Total shares 8,335 6,250 11,167 7,770 At September 30, 2023 the aggregate intrinsic value of options outstanding and exercisable was $ 35.3 30.5 2.8 3 13.5 23.1 2,661,000
Purchases of Company Stock	Purchases of Company Stock The table below describes the purchase of our common stock for the nine-month ended September 30, 2023 and 2022: Schedule of purchases of company stock Nine Months Ended September 30, 2023 September 30, 2022 Shares Avg. Price Shares Avg. Price Open market purchases 625,887 $ 11.20 2,617,548 $ 11.20 Shares redeemed upon net exercise of stock options 1,224,673 13.56 893,153 13.56 Total stock purchases 1,850,560 $ 11.80 3,510,701 $ 11.80
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 September 30, 2023, 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.
Adoption of New Accounting Standards	Adoption of New Accounting Standards In March 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2022-02, known as the Financial Instruments – Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures. ASU 2022-02 eliminates the accounting guidance for TDRs in ASC 310-40 on troubled debt restructurings for entities that have adopted the CECL model introduced by ASU 2016-13, Current Expected Credit Loss. ASU 2022-02 also requires that public business entities disclose current-period gross charge offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, Financial Instruments – Credit Losses – Measured at Amortized Cost. This guidance is effective for fiscal years beginning after December 15, 2022, and the adoption of this guidance did not have a material impact on the condensed consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Schedule of other income	Schedule of other income Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Origination and servicing fees from third party receivables $ 2,546 $ 2,016 $ 7,207 $ 4,268 Direct mail revenues – – – 774 Sales tax refunds 256 209 780 512 Other 16 80 90 305 Other income for the period $ 2,818 $ 2,305 $ 8,077 $ 5,859
Schedule of supplemental balance sheet information related to leases	Schedule of supplemental balance sheet information related to leases September 30, December 31, 2023 2022 (In thousands) Operating Leases Operating lease right-of-use assets $ 29,575 $ 28,397 Less: Accumulated amortization right-of-use assets (25,673 ) (22,613 ) Operating lease right-of-use assets, net $ 3,902 $ 5,784 Operating lease liabilities $ (4,222 ) $ (6,234 ) Finance Leases Property and equipment, at cost $ 3,454 $ 3,407 Less: Accumulated depreciation (3,373 ) (3,301 ) Property and equipment, net $ 81 $ 106 Finance lease liabilities $ (85 ) $ (177 ) Weighted Average Discount Rate Operating lease 5.0 % 5.0 % Finance lease 6.5 % 6.5 %
Schedule of maturities of lease liabilities	Schedule of maturities of lease liabilities (In thousands) Operating Finance Year Ending September 30, Lease Lease 2023 $ 1,365 $ 12 2024 1,787 37 2025 737 20 2026 455 11 2027 452 11 Thereafter 565 1 Total undiscounted lease payments 5,361 92 Less amounts representing interest (1,139 ) (7 ) Lease Liability $ 4,222 $ 85
Schedule of lease information	Schedule of lease information Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Operating lease cost $ 1,410 $ 1,767 $ 4,181 $ 5,288 Finance lease cost 18 257 144 813 Total lease cost $ 1,428 $ 2,024 $ 4,325 $ 6,101
Schedule of supplemental cash flow information related to leases	Schedule of supplemental cash flow information related to leases Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,410 $ 1,921 $ 4,181 $ 5,616 Operating cash flows from finance leases 17 249 139 776 Financing cash flows from finance leases 1 8 5 36
Schedule of option activity	Schedule of option activity Weighted Number of Weighted Average Shares Average Remaining (in thousands) Exercise Price Contractual Term Options outstanding at the beginning of period 11,167 $ 5.21 N/A Granted – – N/A Exercised (2,832 ) 5.59 N/A Forfeited – – N/A Options outstanding at the end of period 8,335 $ 5.08 3.36 Options exercisable at the end of period 6,250 $ 4.30 2.80
Schedule of stock options outstanding and exercisable	Schedule of stock options outstanding and exercisable Number of shares as of Number of shares as of September 30, 2023 December 31, 2022 Outstanding Exercisable Outstanding Exercisable (In thousands) (In thousands) Range of exercise prices: $2.00 - $2.99 1,440 1,105 1,445 775 $3.00 - $3.99 2,533 2,533 3,785 3,495 $4.00 - $4.99 2,659 2,034 2,739 1,802 $5.00 - $5.99 – – – – $6.00 - $6.99 – – 740 740 $7.00 - $7.99 – – 748 748 $10.00 - $10.99 1,703 578 1,710 210 Total shares 8,335 6,250 11,167 7,770
Schedule of purchases of company stock	Schedule of purchases of company stock Nine Months Ended September 30, 2023 September 30, 2022 Shares Avg. Price Shares Avg. Price Open market purchases 625,887 $ 11.20 2,617,548 $ 11.20 Shares redeemed upon net exercise of stock options 1,224,673 13.56 893,153 13.56 Total stock purchases 1,850,560 $ 11.80 3,510,701 $ 11.80

Finance Receivables (Tables)

Finance Receivables (Tables)	9 Months Ended
	Sep. 30, 2023
Finance Receivables
Schedule of delinquency status of finance receivables	Schedule of delinquency status of finance receivables September 30, December 31, 2023 2022 (In thousands) Delinquency Status Current $ 25,805 $ 65,764 31-60 days 7,167 16,796 61-90 days 4,086 7,756 90+ days 1,435 1,988 Balance at end of period $ 38,493 $ 92,304
Schedule of amortized cost basis of finance receivables	Schedule of amortized cost basis of finance receivables September 30, December 31, 2023 2022 (In thousands) Annual Vintage Pool 2014 and prior $ 595 $ 1,865 2015 2,748 8,627 2016 11,243 28,632 2017 23,907 53,180 $ 38,493 $ 92,304
Schedule of allowance for finance credit losses	Schedule of allowance for finance credit losses Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Balance at beginning of period $ 5,721 $ 35,672 $ 21,753 $ 56,206 Provision for credit losses on finance receivables (2,000 ) (6,000 ) (20,700 ) (23,400 ) Charge-offs (1,477 ) (4,375 ) (6,391 ) (14,181 ) Recoveries 1,984 2,699 9,566 9,371 Balance at end of period $ 4,228 $ 27,996 $ 4,228 $ 27,996
Schedule of charge-offs for financed receivables	Schedule of charge-offs for financed receivables Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Annual Vintage Pool (In thousands) (In thousands) 2014 and prior $ 43 $ 261 $ 251 $ 795 2015 129 602 870 2,343 2016 568 1,598 2,602 5,136 2017 948 2,072 3,548 6,304 Applied against repos in inventory (net) (211 ) (158 ) (880 ) (397 ) $ 1,477 $ 4,375 $ 6,391 $ 14,181
Schedule of allowance for losses on repossessed inventory	Schedule of allowance for losses on repossessed inventory September 30, December 31, 2023 2022 (In thousands) Gross balance of repossessions in inventory $ 604 $ 1,894 Allowance for losses on repossessed inventory (444 ) (1,323 ) Net repossessed inventory included in other assets $ 160 $ 571

Securitization Trust Debt (Tabl

Securitization Trust Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Securitization Trust Debt
Schedule of securitization trust debt	Schedule of securitization trust debt Weighted Average Final Receivables Outstanding Outstanding Contractual Debt Scheduled Pledged at Principal at Principal at Interest Rate at Payment September 30, Initial September 30, December 31, September 30, Series Date (1) 2023 (2) Principal 2023 2022 2023 (Dollars in thousands) CPS 2018-A March 2025 $ – $ 190,000 $ – $ 12,939 – CPS 2018-B December 2024 – 201,823 – 17,077 – CPS 2018-C September 2025 – 230,275 – 20,222 0.00 % CPS 2018-D June 2025 – 233,730 – 25,563 0.00 % CPS 2019-A March 2026 21,838 254,400 16,739 32,898 5.81 % CPS 2019-B June 2026 24,211 228,275 19,935 33,897 5.82 % CPS 2019-C September 2026 29,160 243,513 24,635 41,515 4.90 % CPS 2019-D December 2026 38,268 274,313 33,693 53,625 4.28 % CPS 2020-A March 2027 36,578 260,000 31,769 52,705 4.67 % CPS 2020-B June 2027 42,170 202,343 27,649 41,736 6.88 % CPS 2020-C November 2027 58,424 252,200 49,298 72,894 3.81 % CPS 2021-A March 2028 62,378 230,545 44,128 72,076 1.74 % CPS 2021-B June 2028 78,721 240,000 65,432 101,206 2.31 % CPS 2021-C September 2028 117,555 291,000 98,915 147,593 1.92 % CPS 2021-D December 2028 160,217 349,202 143,583 209,277 2.36 % CPS 2022-A April 2029 177,253 316,800 155,921 222,613 2.65 % CPS 2022-B October 2029 267,738 395,600 237,944 325,907 4.64 % CPS 2022-C April 2030 304,257 391,600 255,748 346,714 5.62 % CPS 2022-D June 2030 255,071 307,018 227,124 292,461 7.73 % CPS 2023-A August 2030 177,253 324,768 255,056 – 6.25 % CPS 2023-B November 2030 267,738 332,885 293,825 – 6.53 % CPS 2023-C February 2031 304,257 291,732 276,438 – 6.61 % $ 2,423,087 $ 6,042,022 $ 2,257,832 $ 2,122,918 _________________ (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 $ 201 844.3 529.7 317.1 206.2 119 26 (2) Includes repossessed assets that are included in Other assets on our Unaudited Condensed Consolidated Balance Sheet.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of debt outstanding	Schedule of debt outstanding Amount Outstanding at September 30, December 31, 2023 2022 (In thousands) Description Interest Rate Maturity Warehouse lines of credit 3.00% over one month Libor (Minimum 3.75%) 8.59% and 7.48% at September 30, 2023 and December 31, 2022, respectively July 2024 $ 163,462 $ 150,293 4.15% over a commercial paper rate (Minimum 5.15%) 9.60% and 8.60% at September 30, 2023, and December 31, 2022, respectively January 2024 78,009 137,585 Residual interest financing 7.86 June 2026 50,000 50,000 Subordinated renewable notes Weighted average rate of 8.16% and 7.82% at September 30, 2023 and December 31, 2022, respectively Weighted average maturity of July 2025 and October 2024 at September 30, 2023 and December 31, 2022, respectively 19,163 25,263 $ 310,634 $ 363,141

Interest Income and Interest _2

Interest Income and Interest Expense (Tables)	9 Months Ended
	Sep. 30, 2023
Interest Income And Interest Expense
Schedule of interest income	Schedule of interest income Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Interest on finance receivables $ 3,769 $ 7,620 $ 12,809 $ 28,766 Interest on finance receivables at fair value 77,848 71,734 228,641 196,204 Other interest income 1,644 463 4,510 577 Interest income $ 83,261 $ 79,817 $ 245,960 $ 225,547
Schedule of interest expense	Schedule of interest expense Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Securitization trust debt $ 31,734 $ 18,519 $ 87,258 $ 47,792 Warehouse lines of credit 4,665 3,342 14,521 5,887 Residual interest financing 1,050 1,050 3,149 3,193 Subordinated renewable notes 440 572 1,426 1,782 Interest expense $ 37,889 $ 23,483 $ 106,354 $ 58,654

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings per share:
Schedule of earnings per share	Schedule of earnings per share Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Weighted average number of common shares outstanding during the period used to compute basic earnings per share 21,154 20,911 20,815 21,166 Incremental common shares attributable to exercise of outstanding options and warrants 4,064 5,743 4,516 6,346 Weighted average number of common shares used to compute diluted earnings per share 25,218 26,654 25,331 27,512

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
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 Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In thousands) (In thousands) Balance at beginning of period $ 2,618,420 $ 2,174,133 $ 2,476,617 $ 1,749,098 Finance receivables at fair value acquired during period 300,539 407,260 958,587 1,311,735 Payments received on finance receivables at fair value (203,775 ) (209,627 ) (625,715 ) (635,401 ) Net interest income accretion on fair value receivables (49,644 ) (36,696 ) (143,949 ) (97,462 ) Mark to fair value 6,000 8,183 6,000 15,283 Balance at end of period $ 2,671,540 $ 2,343,253 $ 2,671,540 $ 2,343,253
Schedule of finance receivables fair and contractual balances	Schedule of finance receivables fair and contractual balances September 30, 2023 December 31, 2022 Contractual Fair Contractual Fair Balance Value Balance Value (In thousands) Finance receivables measured at fair value. $ 2,904,235 $ 2,671,540 $ 2,701,184 $ 2,476,617
Schedule of level 3 fair value measurements	Schedule of level 3 fair value measurements Financial Instrument Fair Values as of Inputs as of September 30, December 31, September 30, December 31, 2023 2022 Unobservable Inputs 2023 2022 (In thousands) Assets: Finance receivables measured at fair value $ 2,671,540 $ 2,476,617 Discount rate 11.0% - 11.7% 11.0% - 11.3% Cumulative net losses 10.0% - 21.7% 13.4% - 19.4%
Schedule of delinquency status of finance receivables measured at fair value	Schedule of delinquency status of finance receivables measured at fair value September 30, December 31, 2023 2022 (In thousands) Delinquency Status Current $ 2,525,830 $ 2,375,271 31 - 60 days 192,735 184,968 61 - 90 days 90,847 72,390 91 + days 49,337 29,048 Repo 45,486 39,507 $ 2,904,235 $ 2,701,184
Schedule of estimated fair values of financial assets and liabilities	Schedule of estimated fair values of financial assets and liabilities As of September 30, 2023 Financial Instrument (In thousands) Carrying Fair Value Measurements Using: Value Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 8,306 $ 8,306 $ – $ – $ 8,306 Restricted cash and equivalents 133,787 133,787 – – 133,787 Finance receivables, net 34,265 – – 25,171 25,171 Accrued interest receivable 284 – – 284 284 Liabilities: Warehouse lines of credit $ 240,384 $ – $ – $ 240,384 $ 240,384 Residual interest financing 49,812 49,812 49,812 Accrued interest payable 7,468 – – 7,468 7,468 Securitization trust debt 2,243,284 – – 2,134,496 2,134,496 Subordinated renewable notes 19,163 – – 19,163 19,163 As of December 31, 2022 Financial Instrument (In thousands) Carrying Fair Value Measurements Using: Value Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 13,490 $ 13,490 $ – $ – $ 13,490 Restricted cash and equivalents 149,299 149,299 – – 149,299 Finance receivables, net 70,551 – – 60,063 60,063 Accrued interest receivable 649 – – 649 649 Liabilities: Warehouse lines of credit $ 285,328 $ – $ – $ 285,328 $ 285,328 Accrued interest payable 6,190 – – 6,190 6,190 Securitization trust debt 2,108,744 – – 1,957,995 1,957,995 Subordinated renewable notes 25,263 – – 25,263 25,263

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details - Other income) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Other Operating Income	$ 2,818	$ 2,305	$ 8,077	$ 5,859
Origination And Servicing Fees From Third Party Receivables [Member]
Other Operating Income	2,546	2,016	7,207	4,268
Direct Mail Revenues [Member]
Other Operating Income	0	0	0	774
Sales Tax Refunds [Member]
Other Operating Income	256	209	780	512
Other Income [Member]
Other Operating Income	$ 16	$ 80	$ 90	$ 305

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details - Supplemental balance sheet information related to leases) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Operating Leases
Operating lease right-of-use assets	$ 29,575	$ 28,397
Less: Accumulated amortization right-of-use assets	(25,673)	(22,613)
Operating lease right-of-use assets, net	3,902	5,784
Operating lease liabilities	(4,222)	(6,234)
Finance Leases
Property and equipment, at cost	3,454	3,407
Less: Accumulated depreciation	(3,373)	(3,301)
Property and equipment, net	81	106
Finance lease liabilities	$ (85)	$ (177)
Weighted average discount rate operating lease	5%	5%
Weighted average discount rate finance lease	6.50%	6.50%

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details - Maturities of lease liabilities) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Operating Lease Liability	$ 4,222	$ 6,234
Finance Lease Liability	85	$ 177
Operating Lease [Member]
2023	1,365
2024	1,787
2025	737
2026	455
2027	452
Thereafter	565
Total undiscounted lease payments	5,361
Less amounts representing interest	(1,139)
Finance Lease [Member]
2023	12
2024	37
2025	20
2026	11
2027	11
Thereafter	1
Total undiscounted lease payments	92
Less amounts representing interest	$ (7)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details - Lease cost) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accounting Policies [Abstract]
Operating lease cost	$ 1,410	$ 1,767	$ 4,181	$ 5,288
Finance lease cost	18	257	144	813
Total lease cost	$ 1,428	$ 2,024	$ 4,325	$ 6,101

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details - Cash flow) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 1,410	$ 1,921	$ 4,181	$ 5,616
Operating cash flows from finance leases	17	249	139	776
Financing cash flows from finance leases	$ 1	$ 8	$ 5	$ 36

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details - Option activity) - $ / shares shares in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Number of shares, options outstanding beginning of period	11,167
Weighted average exercise price, options outstanding beginning of period	$ 5.21
Number of shares, Granted	0
Weighted average exercise price, Granted	$ 0
Number of shares, Exercised	(2,832)
Weighted average exercise price, Exercised	$ 5.59
Number of shares, Forfeited	0
Weighted average exercise price, Forfeited	$ 0
Number of shares, Options outstanding end of period	8,335
Weighted average exercise price, Options outstanding end of period	$ 5.08
Weighted average remaining contractual term, options outstanding	3 years 4 months 9 days
Number of shares, options exercisable	6,250	7,770
Weighted average exercise price, options exercisable	$ 4.30
Weighted average remaining contractual term, options exercisable	2 years 9 months 18 days

Summary of Significant Accou_10

Summary of Significant Accounting Policies (Details - Options outstanding and exercisable) - shares shares in Thousands	Sep. 30, 2023	Dec. 31, 2022
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, Outstanding	8,335	11,167
Number of shares, Exercisable	6,250	7,770
Range 1 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, Outstanding	1,440	1,445
Number of shares, Exercisable	1,105	775
Range 2 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, Outstanding	2,533	3,785
Number of shares, Exercisable	2,533	3,495
Range 3 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, Outstanding	2,659	2,739
Number of shares, Exercisable	2,034	1,802
Range 4 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, Outstanding	0	0
Number of shares, Exercisable	0	0
Range 5 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, Outstanding	0	740
Number of shares, Exercisable	0	740
Range 6 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, Outstanding	0	748
Number of shares, Exercisable	0	748
Range 7 [Member]
Share-Based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares, Outstanding	1,703	1,710
Number of shares, Exercisable	578	210

Summary of Significant Accou_11

Summary of Significant Accounting Policies (Details - Stock purchases) - Common Stock [Member] - $ / shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Equity, Class of Treasury Stock [Line Items]
Total stock purchases, shares	1,850,560	3,510,701
Total stock purchases, average price	$ 11.80	$ 11.80
Open Market Purchases [Member]
Equity, Class of Treasury Stock [Line Items]
Total stock purchases, shares	625,887	2,617,548
Total stock purchases, average price	$ 11.20	$ 11.20
Shares Redeemed [Member]
Equity, Class of Treasury Stock [Line Items]
Total stock purchases, shares	1,224,673	893,153
Total stock purchases, average price	$ 13.56	$ 13.56

Summary of Significant Accou_12

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Payment Arrangement, Noncash Expense	$ 816,000	$ 1,400,000	$ 2,600,000	$ 3,000,000
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	6,800,000		$ 6,800,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			2 years
Intrinsic value options outstanding	35,300,000		$ 35,300,000
Intrinsic value of options exercisable	$ 30,500,000		$ 30,500,000
Options exercised			2,832,000
Intrinsic value of options exercised			$ 13,500,000	$ 23,100,000
Shares available for grant	2,661,000		2,661,000
Options Exercised [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Options exercised			2,800,000	3,000,000

Finance Receivables (Details -

Finance Receivables (Details - Delinquency status) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Finance receivables	$ 38,493	$ 92,304
Financial Asset, 1 to 29 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Finance receivables	25,805	65,764
Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Finance receivables	7,167	16,796
Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Finance receivables	4,086	7,756
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Finance receivables	$ 1,435	$ 1,988

Finance Receivables (Details _2

Finance Receivables (Details - Amortized Cost Basis) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Amortized cost basis	$ 38,493	$ 92,304
Vintage Pool 2014 [Member]
Financing Receivable, Past Due [Line Items]
Amortized cost basis	595	1,865
Vintage Pool 2015 [Member]
Financing Receivable, Past Due [Line Items]
Amortized cost basis	2,748	8,627
Vintage Pool 2016 [Member]
Financing Receivable, Past Due [Line Items]
Amortized cost basis	11,243	28,632
Vintage Pool 2017 [Member]
Financing Receivable, Past Due [Line Items]
Amortized cost basis	$ 23,907	$ 53,180

Finance Receivables (Details _3

Finance Receivables (Details - Summary of activity) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Finance Receivables
Balance at beginning of period	$ 5,721	$ 35,672	$ 21,753	$ 56,206
Provision for credit losses on finance receivables	(2,000)	(6,000)	(20,700)	(23,400)
Charge-offs	(1,477)	(4,375)	(6,391)	(14,181)
Recoveries	1,984	2,699	9,566	9,371
Balance at end of period	$ 4,228	$ 27,996	$ 4,228	$ 27,996

Finance Receivables (Details _4

Finance Receivables (Details - Charge-Offs for Financed Receivables) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Financing Receivable, Past Due [Line Items]
Charge-offs	$ 1,477	$ 4,375	$ 6,391	$ 14,181
Vintage Pool 2014 [Member]
Financing Receivable, Past Due [Line Items]
Charge-offs	43	261	251	795
Vintage Pool 2015 [Member]
Financing Receivable, Past Due [Line Items]
Charge-offs	129	602	870	2,343
Vintage Pool 2016 [Member]
Financing Receivable, Past Due [Line Items]
Charge-offs	568	1,598	2,602	5,136
Vintage Pool 2017 [Member]
Financing Receivable, Past Due [Line Items]
Charge-offs	948	2,072	3,548	6,304
Charged Against Repos In Inventory [Member]
Financing Receivable, Past Due [Line Items]
Charge-Offs for financed receivables applied	$ (211)	$ (158)	$ (880)	$ (397)

Finance Receivables (Details _5

Finance Receivables (Details - Repossessed inventory) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Finance Receivables
Repossesed vehicles in inventory, gross	$ 604,000	$ 1,894,000
Repossessed inventory allowance	(444,000)	(1,323,000)
Repossesed vehicles in inventory, net	$ 160,000	$ 571,000

Finance Receivables (Details Na

Finance Receivables (Details Narrative) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Finance Receivables
Interest Receivable	$ 38.5	$ 92.3
Financing Receivable, Nonaccrual	$ 1.4	$ 2

Securitization Trust Debt (Deta

Securitization Trust Debt (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Receivables pledged at end of period	[1]	$ 2,423,087
Initial principal		6,042,022
Outstanding principal		2,257,832	$ 2,122,918
Securitization trust debt, payable in 2023		201,000
Securitization trust debt, payable in 2024		844,300
Securitization trust debt, payable in 2025		529,700
Securitization trust debt, payable in 2026		317,100
Securitization trust debt, payable in 2027		206,200
Securitization trust debt, payable in 2028		119,000
Securitization trust debt, payable in 2029		$ 26,000
CPS 2018-A [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	March 2025
Receivables pledged at end of period	[1]	$ 0
Initial principal		190,000
Outstanding principal		$ 0	12,939
Weighted average contractual debt interest rate		0%
CPS 2018-B [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	December 2024
Receivables pledged at end of period	[1]	$ 0
Initial principal		201,823
Outstanding principal		$ 0	17,077
Weighted average contractual debt interest rate		0%
CPS 2018-C [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	September 2025
Receivables pledged at end of period	[1]	$ 0
Initial principal		230,275
Outstanding principal		$ 0	20,222
Weighted average contractual debt interest rate		0%
CPS 2018-D [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	June 2025
Receivables pledged at end of period	[1]	$ 0
Initial principal		233,730
Outstanding principal		$ 0	25,563
Weighted average contractual debt interest rate		0%
CPS 2019-A [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	March 2026
Receivables pledged at end of period	[1]	$ 21,838
Initial principal		254,400
Outstanding principal		$ 16,739	32,898
Weighted average contractual debt interest rate		5.81%
CPS 2019-B [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	June 2026
Receivables pledged at end of period	[1]	$ 24,211
Initial principal		228,275
Outstanding principal		$ 19,935	33,897
Weighted average contractual debt interest rate		5.82%
CPS 2019-C [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	September 2026
Receivables pledged at end of period	[1]	$ 29,160
Initial principal		243,513
Outstanding principal		$ 24,635	41,515
Weighted average contractual debt interest rate		4.90%
CPS 2019-D [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	December 2026
Receivables pledged at end of period	[1]	$ 38,268
Initial principal		274,313
Outstanding principal		$ 33,693	53,625
Weighted average contractual debt interest rate		4.28%
CPS 2020-A [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	March 2027
Receivables pledged at end of period	[1]	$ 36,578
Initial principal		260,000
Outstanding principal		$ 31,769	52,705
Weighted average contractual debt interest rate		4.67%
CPS 2020-B [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	June 2027
Receivables pledged at end of period	[1]	$ 42,170
Initial principal		202,343
Outstanding principal		$ 27,649	41,736
Weighted average contractual debt interest rate		6.88%
CPS 2020-C [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	November 2027
Receivables pledged at end of period	[1]	$ 58,424
Initial principal		252,200
Outstanding principal		$ 49,298	72,894
Weighted average contractual debt interest rate		3.81%
CPS 2021-A [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	March 2028
Receivables pledged at end of period	[1]	$ 62,378
Initial principal		230,545
Outstanding principal		$ 44,128	72,076
Weighted average contractual debt interest rate		1.74%
CPS 2021-B [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	June 2028
Receivables pledged at end of period	[1]	$ 78,721
Initial principal		240,000
Outstanding principal		$ 65,432	101,206
Weighted average contractual debt interest rate		2.31%
CPS 2021-C [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	September 2028
Receivables pledged at end of period	[1]	$ 117,555
Initial principal		291,000
Outstanding principal		$ 98,915	147,593
Weighted average contractual debt interest rate		1.92%
CPS 2021-D [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	December 2028
Receivables pledged at end of period	[1]	$ 160,217
Initial principal		349,202
Outstanding principal		$ 143,583	209,277
Weighted average contractual debt interest rate		2.36%
CPS 2022-A [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	April 2029
Receivables pledged at end of period	[1]	$ 177,253
Initial principal		316,800
Outstanding principal		$ 155,921	222,613
Weighted average contractual debt interest rate		2.65%
CPS 2022-B [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	October 2029
Receivables pledged at end of period	[1]	$ 267,738
Initial principal		395,600
Outstanding principal		$ 237,944	325,907
Weighted average contractual debt interest rate		4.64%
CPS 2022-C [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	April 2030
Receivables pledged at end of period	[1]	$ 304,257
Initial principal		391,600
Outstanding principal		$ 255,748	346,714
Weighted average contractual debt interest rate		5.62%
CPS 2022-D [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	June 2030
Receivables pledged at end of period	[1]	$ 255,071
Initial principal		307,018
Outstanding principal		$ 227,124	292,461
Weighted average contractual debt interest rate		7.73%
CPS 2023-A [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	August 2030
Receivables pledged at end of period	[1]	$ 177,253
Initial principal		324,768
Outstanding principal		$ 255,056	0
Weighted average contractual debt interest rate		6.25%
CPS 2023-B [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	November 2030
Receivables pledged at end of period	[1]	$ 267,738
Initial principal		332,885
Outstanding principal		$ 293,825	0
Weighted average contractual debt interest rate		6.53%
CPS 2023-C [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Final Scheduled Payment Date	[2]	February 2031
Receivables pledged at end of period	[1]	$ 304,257
Initial principal		291,732
Outstanding principal		$ 276,438	$ 0
Weighted average contractual debt interest rate		6.61%
[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 $ 201 844.3 529.7 317.1 206.2 119 26

Securitization Trust Debt (De_2

Securitization Trust Debt (Details Narrative) - USD ($) $ in Millions	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Securitization Trust Debt
Debt issuance costs	$ 14.5		$ 14.2
Restricted cash under various agreements		$ 142.1

Debt (Details - Debt outstandin

Debt (Details - Debt outstanding) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Warehouse lines of credit	$ 240,384	$ 285,328
Residual interest financing	49,812	49,623
Subordinated renewable notes	19,163	25,263
Debt outstanding	$ 310,634	363,141
Warehouse Lines Of Credit 1 [Member]
Line of Credit Facility [Line Items]
Interest rate	3.00% over one month Libor (Minimum 3.75%) 8.59% and 7.48% at September 30, 2023 and December 31, 2022, respectively
Maturity date description	July 2024
Warehouse lines of credit	$ 163,462	150,293
Warehouse Lines Of Credit 2 [Member]
Line of Credit Facility [Line Items]
Interest rate	4.15% over a commercial paper rate (Minimum 5.15%) 9.60% and 8.60% at September 30, 2023, and December 31, 2022, respectively
Maturity date description	January 2024
Warehouse lines of credit	$ 78,009	137,585
Residual Interest Financing [Member]
Line of Credit Facility [Line Items]
Maturity date description	June 2026
Interest rate	7.86%
Residual interest financing	$ 50,000	50,000
Subordinated Renewable Notes [Member]
Line of Credit Facility [Line Items]
Interest rate	Weighted average rate of 8.16% and 7.82% at September 30, 2023 and December 31, 2022, respectively
Maturity date description	Weighted average maturity of July 2025 and October 2024 at September 30, 2023 and December 31, 2022, respectively
Subordinated renewable notes	$ 19,163	$ 25,263

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Jul. 15, 2022	Jun. 28, 2022
Short-Term Debt [Line Items]
Unamortized debt issuance costs	$ 188,000	$ 377,000
Warehouse Lines Of Credit [Member]
Short-Term Debt [Line Items]
Unamortized debt issuance costs	1,100,000	$ 2,600,000
Ares Agent Services L P [Member]
Short-Term Debt [Line Items]
Line of credit outstanding facility amount	163,500,000
Ares Agent Services L P [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Line of credit amount				$ 100,000,000
Ares Agent Services L P [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Line of credit amount				$ 200,000,000
Citibank N A [Member]
Short-Term Debt [Line Items]
Line of credit outstanding facility amount	$ 78,000,000
Citibank N A [Member] | Minimum [Member]
Short-Term Debt [Line Items]
Line of credit amount			$ 100,000,000
Citibank N A [Member] | Maximum [Member]
Short-Term Debt [Line Items]
Line of credit amount			$ 200,000,000

Interest Income and Interest _3

Interest Income and Interest Expense (Details - Interest income) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest Income And Interest Expense
Interest on finance receivables	$ 3,769	$ 7,620	$ 12,809	$ 28,766
Interest on finance receivables at fair value	77,848	71,734	228,641	196,204
Other interest income	1,644	463	4,510	577
Interest income	$ 83,261	$ 79,817	$ 245,960	$ 225,547

Interest Income and Interest _4

Interest Income and Interest Expense (Details - Interest expense) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Total interest expense	$ 37,889	$ 23,483	$ 106,354	$ 58,654
Securitization Trust Debt [Member]
Debt Instrument [Line Items]
Total interest expense	31,734	18,519	87,258	47,792
Warehouse Lines Of Credit [Member]
Debt Instrument [Line Items]
Total interest expense	4,665	3,342	14,521	5,887
Residual Interest Financing [Member]
Debt Instrument [Line Items]
Total interest expense	1,050	1,050	3,149	3,193
Subordinated Renewable Notes [Member]
Debt Instrument [Line Items]
Total interest expense	$ 440	$ 572	$ 1,426	$ 1,782

Earnings Per Share (Details - E

Earnings Per Share (Details - Earnings Per Share) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings per share:
Weighted average number of common shares outstanding during the period used to compute basic earnings per share	21,154	20,911	20,815	21,166
Incremental common shares attributable to exercise of outstanding options and warrants	4,064	5,743	4,516	6,346
Weighted average number of common shares used to compute diluted earnings per share	25,218	26,654	25,331	27,512

Earnings Per Share (Details Nar

Earnings Per Share (Details Narrative) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings per share:
Antidilutive shares	1,500	1,700	1,500	1,000

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Operating Loss Carryforwards [Line Items]
Net deferred tax asset	$ 5.8		$ 5.8
Current income tax expense	$ 3.8	$ 8.9	$ 13.1	$ 26
Effective income tax rate reconciliation, percent	27%	26%	26%	27%
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Net deferred tax asset	$ 3.5		$ 3.5
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Net deferred tax asset	$ 2.3		$ 2.3

Legal Proceedings (Details Narr

Legal Proceedings (Details Narrative) $ in Millions	Sep. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Probable losses for legal contingencies	$ 3.8
Maximum possible losses for legal proceedings and contingencies	$ 7.3

Fair Value Measurements (Detail

Fair Value Measurements (Details - Reconciliation of Finance Receivables) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Balance at beginning of period	$ 2,618,420	$ 2,174,133	$ 2,476,617	$ 1,749,098
Finance receivables at fair value acquired during period	300,539	407,260	958,587	1,311,735
Payments received on finance receivables at fair value	(203,775)	(209,627)	(625,715)	(635,401)
Net interest income accretion on fair value receivables	(49,644)	(36,696)	(143,949)	(97,462)
Mark to fair value	6,000	8,183	6,000	15,283
Balance at end of period	$ 2,671,540	$ 2,343,253	$ 2,671,540	$ 2,343,253

Fair Value Measurements (Deta_2

Fair Value Measurements (Details - Finance Receivables to Contractual Balances) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Finance receivables contractual balance	$ 2,904,235		$ 2,701,184
Finance receivables measured at fair value	$ 2,671,540	$ 2,618,420	$ 2,476,617	$ 2,343,253	$ 2,174,133	$ 1,749,098

Fair Value Measurements (Deta_3

Fair Value Measurements (Details - Level 3 Fair Value Measurements) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Finance receivables measured at fair value	$ 2,671,540	$ 2,476,617	$ 2,618,420	$ 2,343,253	$ 2,174,133	$ 1,749,098
Discount rate on finance receivables	11.0% - 11.7%	11.0% - 11.3%
Cumulative net losses on finance receivables, percent	10.0% - 21.7%	13.4% - 19.4%

Fair Value Measurements (Deta_4

Fair Value Measurements (Details - Delinquency status) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Initial principal	$ 2,904,235	$ 2,701,184
Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Initial principal	2,525,830	2,375,271
Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Initial principal	192,735	184,968
Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Initial principal	90,847	72,390
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Initial principal	49,337	29,048
Repossessed Vehicles [Member]
Financing Receivable, Past Due [Line Items]
Initial principal	$ 45,486	$ 39,507

Fair Value Measurements (Deta_5

Fair Value Measurements (Details - Fair values) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents	$ 8,306	$ 13,490
Restricted cash and equivalents	133,787	149,299
Finance receivables, net	25,171	60,063
Accrued interest receivable	284	649
Warehouse lines of credit	240,384	285,328
Residual interest financing	49,812
Accrued interest payable	7,468	6,190
Securitization trust debt	2,134,496	1,957,995
Subordinated renewable notes	19,163	25,263
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents	8,306	13,490
Restricted cash and equivalents	133,787	149,299
Finance receivables, net	0	0
Accrued interest receivable	0	0
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]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents	0	0
Restricted cash and equivalents	0	0
Finance receivables, net	0	0
Accrued interest receivable	0	0
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]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents	0	0
Restricted cash and equivalents	0	0
Finance receivables, net	25,171	60,063
Accrued interest receivable	284	649
Warehouse lines of credit	240,384	285,328
Residual interest financing	49,812
Accrued interest payable	7,468	6,190
Securitization trust debt	2,134,496	1,957,995
Subordinated renewable notes	19,163	25,263
Carrying Value [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash and cash equivalents	8,306	13,490
Restricted cash and equivalents	133,787	149,299
Finance receivables, net	34,265	70,551
Accrued interest receivable	284	649
Warehouse lines of credit	240,384	285,328
Residual interest financing	49,812
Accrued interest payable	7,468	6,190
Securitization trust debt	2,243,284	2,108,744
Subordinated renewable notes	$ 19,163	$ 25,263

Fair Value Measurements (Deta_6

Fair Value Measurements (Details Narrative) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Repossessed vehicles in inventory, gross	$ 604,000	$ 1,894,000
Repossessed inventory allowance	444,000	1,323,000
Repossessed vehicles in inventory, net	$ 160,000	$ 571,000