Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Assets Measured on Recurring Basis

The following tables are a summary of fair value measurements and hierarchy level at March 31, 2019 and December 31, 2018 (in thousands):

As of March 31, 2019:

	Carrying Value		Level 1		Level 2		Level 3
Assets:
Money market funds (1)	$	19,810	$	19,810	$	—	$	—
Beneficial interests in securitizations	19,531		—		19,531		—

As of December 31, 2018:

	Carrying Value		Level 1		Level 2		Level 3
Assets:
Money market funds (1)	$	63,713	$	63,713	$	—	$	—

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(1) Consists of highly liquid investments with original maturities of three months or less and classified in cash and cash equivalents in the accompanying unaudited condensed consolidated balance sheets.

Fair Value of Senior Notes and Fair Value of Carrying Value and Fair Value of Finance Receivables

The fair value of the Senior Notes as of March 31, 2019 and December 31, 2018 was as follows (in thousands):

	March 31, 2019		December 31, 2018
Carrying value, net of unamortized debt issuance costs	$	343,251	$	342,869
Fair value	352,690		319,375

The fair value of finance receivables, which are not carried at fair value on the accompanying unaudited condensed consolidated balance sheets, was determined utilizing the estimated sales price based on the historical experience of the Company. Such fair value measurement of the finance receivables, net is considered Level 2 under the fair value hierarchy. The carrying value and fair value of the finance receivables as of March 31, 2019 and December 31, 2018 were as follows (in thousands):

	March 31, 2019		December 31, 2018
Carrying value	$	151,186	$	105,200
Fair value	157,778		109,703