Finance Receivables (Tables)

6 Months Ended

Sep. 30, 2019

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)
	September 30, 2019			March 31, 2019			September 30, 2018
Finance receivables	$	222,320		$	228,994		$	267,236
Accrued interest receivable		3,046			2,889			2,542
Unearned dealer discounts		(8,995	)		(10,083	)		(11,352	)
Unearned insurance and fee commissions		(2,741	)		(2,826	)		(3,009	)
Finance receivables, net of unearned		213,630			218,974			255,417
Purchase price discount		(676	)		—			—
Allowance for credit losses		(13,502	)		(16,932	)		(19,176	)
Finance receivables, net	$	199,452		$	202,042		$	236,241

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 September 30,
Contract Portfolio	2019			2018
Average APR		22.7	%		22.4	%
Average discount		7.7	%		7.2	%
Average term (months)		52			54
Number of active contracts		27,294			30,548

	As of September 30,
Direct Loan Portfolio	2019			2018
Average APR		26.5	%		25.1	%
Average term (months)		27			32
Number of active contracts		2,921			2,458

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 September 30, 2019 and 2018:

	Three months ended September 30, 2019									Six months ended September 30, 2019
	Contracts			Direct Loans			Consolidated			Contracts			Direct Loans			Consolidated
Balance at beginning of    period	$	15,494		$	618		$	16,112		$	16,575		$	357		$	16,932
Provision for credit losses		3,600			400			4,000			7,580			805			8,385
Charge-offs		(8,140	)		(182	)		(8,322	)		(14,675	)		(339	)		(15,014	)
Recoveries		1,698			14			1,712			3,172			27			3,199
Balance at September 30,    2019	$	12,652		$	850		$	13,502		$	12,652		$	850		$	13,502
	Three months ended September 30, 2018									Six months ended September 30, 2018
	Contracts			Direct Loans			Consolidated			Contracts			Direct Loans			Consolidated
Balance at beginning of    period	$	18,116		$	949		$	19,065		$	19,433		$	833		$	20,266
Provision for credit losses		8,684			(310	)		8,374			13,912			(111	)		13,801
Charge-offs		(8,578	)		(164	)		(8,742	)		(15,629	)		(254	)		(15,883	)
Recoveries		470			9			479			976			16			992
Balance at September 30,    2018	$	18,692		$	484		$	19,176		$	18,692		$	484		$	19,176

Schedule of an assessment of the credit quality by creditworthiness

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

	(In thousands)
	September 30, 2019						September 30, 2018
	Contracts		Direct Loans		Total		Contracts		Direct Loans		Total
Performing accounts	$	205,458	$	9,309	$	214,767	$	244,730	$	7,248	$	251,978
Non-performing accounts		6,938		171		7,109		11,365		217		11,582
Total		212,396		9,480		221,876		256,095		7,465		263,560
Chapter 13 bankruptcy    accounts		436		8		444		3,582		94		3,676
Finance receivables	$	212,832	$	9,488	$	222,320	$	259,677	$	7,559	$	267,236

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
September 30, 2019	$	212,396	$	13,981		$	4,950		$	1,946		$	42		$	20,919
				6.58	%		2.33	%		0.92	%		0.02	%		9.85	%
September 30, 2018	$	256,095	$	17,399		$	7,132		$	2,190		$	2,043		$	28,764
				6.79	%		2.78	%		0.86	%		0.80	%		11.23	%

	Direct Loans
	Balance Outstanding		30 – 59 days			60 – 89 days			90 – 119 days			120+			Total
September 30, 2019	$	9,480	$	219		$	115		$	56		$	—		$	390
				2.31	%		1.21	%		0.59	%		—			4.11	%
September 30, 2018	$	7,465	$	162		$	122		$	27		$	68		$	379
				2.17	%		1.63	%		0.36	%		0.91	%		5.08	%