Subsequent Events

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

NOTE 20 — SUBSEQUENT EVENTS

In January and February 2020, the Company and certain subsidiaries entered into two revolving facilities with certain lenders to fund automotive finance receivables originated by the Company. The credit facilities may be drawn upon through July 23, 2021 and February 20, 2022, respectively. As of the date hereof, the lenders have committed an aggregate amount of $925.0 million under these facilities, which may be increased to an aggregate $1.0 billion with the consent of certain lenders. The facilities require monthly payments of interest and fees based on usage and unused facility amounts. The subsidiaries are each wholly-owned, special purpose entities whose assets are not available to the general creditors of the Company.

After entering into the revolving credit warehouse facilities described above, the Company voluntarily terminated the DART I Credit Facility and the SART 2017-1 Credit Facility, which were both scheduled to be available to the Company to draw against until April 2020.