Finance Receivables (Tables)

3 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Schedule of finance receivables consisting of automobile finance installment Contracts and Direct Loans

Finance receivables consist of Contracts and Direct Loans and are detailed as follows:

	(In thousands)
	June 30, 2022			March 31, 2022			June 30, 2021
Finance receivables	$	180,053		$	178,786		$	180,823
Accrued interest receivable		2,488			2,315			2,459
Unearned dealer discounts		(6,854	)		(6,894	)		(7,110	)
Unearned insurance commissions and fees		(2,450	)		(2,446	)		(2,483	)
Purchase price discount		(171	)		(212	)		(311	)
Finance receivables, net of unearned		173,066			171,549			173,378
Allowance for credit losses		(3,686	)		(2,949	)		(5,250	)
Finance receivables, net	$	169,380		$	168,600		$	168,128

Schedule of selected information on entire comprise portfolio

Contracts and Direct Loans each comprise a portfolio segment. The following tables present selected information on the entire portfolio of the Company:

	As of June 30,
Contract Portfolio	2022			2021
Average APR		22.9	%		22.8	%
Average discount		7.3	%		7.5	%
Average term (months)		50			50
Number of active contracts		18,959			21,995

	As of June 30,
Direct Loan Portfolio	2022			2021
Average APR		29.9	%		28.8	%
Average term (months)		27			27
Number of active contracts		7,096			4,354

Schedule of reconciliation of the changes in the allowance for credit losses

The following table sets forth a reconciliation of the changes in the allowance for credit losses on Contracts and Direct Loans for the three months ended June 30, 2022 and 2021:

	Three months ended June 30, 2022
	Contracts			Direct Loans			Consolidated
Balance at beginning of    period	$	1,961		$	988		$	2,949
Provision for credit losses		3,102			542			3,644
Charge-offs		(4,045	)		(349	)		(4,394	)
Recoveries		1,442			45			1,487
Balance at June 30, 2022	$	2,460		$	1,226		$	3,686
	Three months ended June 30, 2021
	Contracts			Direct Loans			Consolidated
Balance at beginning of    period	$	6,001		$	153		$	6,154
Provision for credit losses		730			-			730
Charge-offs		(2,774	)		(191	)		(2,965	)
Recoveries		1,311			20			1,331
Balance at June 30, 2021	$	5,268		$	(18	)	$	5,250

Schedule of an assessment of the credit quality by creditworthiness

The following table is an assessment of the credit quality by creditworthiness:

	(In thousands)
	June 30, 2022						June 30, 2021
	Contracts		Direct Loans		Total		Contracts		Direct Loans		Total
Performing accounts	$	147,511	$	26,292	$	173,803	$	161,700	$	15,598	$	177,298
Non-performing accounts		5,518		487		6,005		3,229		123		3,352
Total		153,029		26,779		179,808		164,929		15,721		180,650
Chapter 13 bankruptcy accounts		236		9		245		162		11		173
Finance receivables	$	153,265	$	26,788	$	180,053	$	165,091	$	15,732	$	180,823

Schedule of information regarding delinquency rates

The following tables present certain information regarding the delinquency rates experienced by the Company with respect to Contracts and Direct Loans, excluding Chapter 13 bankruptcy accounts:

	Contracts
	(In thousands, except percentages)
	Balance Outstanding		30 – 59 days			60 – 89 days			90 – 119 days			120+			Total
June 30, 2022	$	153,029	$	8,958		$	4,041		$	1,448		$	29		$	14,476
				5.85	%		2.64	%		0.95	%		0.02	%		9.46	%
March 31, 2021	$	154,143	$	7,097		$	2,936		$	1,183		$	48		$	11,264
				4.60	%		1.90	%		0.77	%		0.03	%		7.31	%
June 30, 2021	$	164,929	$	7,087		$	2,575		$	644		$	10		$	10,316
				4.30	%		1.56	%		0.39	%		0.01	%		6.26	%

	Direct Loans
	Balance Outstanding		30 – 59 days			60 – 89 days			90 – 119 days			120+		Total
June 30, 2022	$	26,779	$	889		$	300		$	187		$	—	$	1,376
				3.32	%		1.12	%		0.70	%		—		5.14	%
March 31, 2021	$	24,376	$	607		$	197		$	77		$	—	$	881
				2.49	%		0.81	%		0.32	%		—		3.61	%
June 30, 2021	$	15,721	$	285		$	70		$	53		$	—	$	408
				1.81	%		0.45	%		0.34	%		—		2.60	%