Note 2 - Accounts Receivables

12 Months Ended

Dec. 31, 2011

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

(2)           Accounts Receivable

Accounts receivable consisted of the following (in thousands):

December 31,	2011			2010
Contracts in transit	$	47,867		$	34,365
Trade receivables		16,418			13,166
Vehicle receivables		15,930			13,439
Manufacturer receivables		19,453			14,231
		99,668			75,201
Less: Allowance		(261	)		(190	)
Total accounts receivables, net	$	99,407		$	75,011

Contracts in transit are receivables from various lenders for the financing of vehicles that we have arranged on behalf of the customer and are typically received within five days of selling a vehicle. Trade receivables are comprised of amounts due from customers, lenders for the commissions earned on financing and third parties for commissions earned on service contracts and insurance products. Vehicle receivables represent receivables for the portion of the vehicle sales price paid directly by the customer.

Manufacturer receivables represent amounts due from manufacturers including holdbacks, rebates, incentives and warranty claims.