Auto Loans Receivable (Tables)

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Auto Loans Receivable

The components of auto loans receivable, net of unearned discounts and allowances for expected credit losses, at June 30, 2023, and December 31, 2022, are as follows:

	June 30, 2023		December 31, 2022
Total auto loans receivable	$	420.8	$	377.0
Accrued interest and fees	5.0		4.4
Deferred loan origination costs	1.0		0.5
Less: unearned discounts	(18.2)		(21.3)
Less: allowances for expected credit losses	(63.1)		(57.5)
Auto loans receivable, net	$	345.5	$	303.1

Financing Receivable Credit Quality Indicators

The following table presents auto loans receivable as of June 30, 2023, disaggregated by major credit program tier:

	Fiscal Year of Origination(1)
	2023		2022		2021		2020		2019		Prior to 2019		Total
Credit Program Tier:
Platinum	$	32.1	$	18.1	$	10.3	$	4.7	$	5.0	$	1.1	$	71.3
Gold	34.7		44.0		23.6		9.5		7.2		1.8		120.8
Silver	40.1		49.0		23.1		7.5		5.1		0.9		125.7
Bronze	22.0		31.7		12.9		5.2		2.4		0.5		74.7
Copper	5.7		13.7		5.7		1.8		1.1		0.3		28.3
Total auto loans receivable	$	134.6	$	156.5	$	75.6	$	28.7	$	20.8	$	4.6	$	420.8
Current-period gross write-offs	$	0.6	$	17.0	$	8.5	$	2.5	$	1.5	$	0.5	$	30.6
(1) Classified based on credit grade assigned when customer was initially approved for financing.

Financing Receivable, Allowance for Credit Loss

The following is a rollforward of our allowance for expected credit losses for auto loans receivable for the six months ended June 30, 2023:

	Six Months Ended
	June 30, 2023
Balance as of beginning of year	$	57.5
Provision for credit losses	22.7
Write-offs	(30.6)
Recoveries(1)	13.5
Balance as of June 30, 2023	$	63.1
(1) Net of costs incurred to recover vehicle collateral.

Financing Receivable, Past Due

The following table presents past due auto loans receivable, as of June 30, 2023, and December 31, 2022:

	Age Analysis of Past-Due Auto Loans Receivable as of
	June 30, 2023		December 31, 2022
31-60 Days	$	19.2	$	13.0
61-90 Days	4.8		4.1
Greater than 90 Days	2.6		2.6
Total Past Due	$	26.6	$	19.7
Current	394.2		357.3
Total	$	420.8	$	377.0