Note 18 - Related Party Transactions

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

18. RELATED PARTY TRANSACTIONS:

The Company had entered into a loan and security agreement with CCTTS, a related party. The fifth amendment to the loan and security agreement provided for advances up to $17.0 million to finance commercial vehicle inventory and bore interest at the three month LIBOR rate plus 4.0%. Principal amounts advanced under the loan agreement were due when the related commercial vehicle inventory was sold by CCTTS and the interest was payable monthly. The Company and its joint venture partner sold substantially all of the assets of CCTTS on October 31, 2019. The Company did not have a receivable from CCTTS under the loan agreement as of December 31, 2019, and had a $12.9 million receivable as of December 31, 2018.