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Subsequent Events
12 Months Ended
Dec. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

Common Stock Dividend
On February 12, 2018, we declared a dividend of $0.27 per share on our Class A and Class B common stock related to our fourth quarter 2017 financial results. The dividend will total approximately $6.8 million and will be paid on March 23, 2018 to shareholders of record on March 9, 2018.

Acquisition
On January 15, 2018, we acquired the inventory, real property, equipment and intangible assets of Ray Laks Honda, in Orchard Park, New York and Ray Laks Acura, in Buffalo, New York. We paid $26.2 million in cash for these acquisitions.

Line of Credit
On February 14, 2018, we entered into a Loan Agreement ("Agreement") with U.S. Bank National Association, as lender. The Agreement provides for a maximum revolving line of credit in the amount of $150.0 million, with an interest rate of one-month LIBOR plus 1.50%. The line of credit matures in August 2018 or earlier if we renegotiate the terms of our existing credit facility agreement.