Related Party Transactions

3 Months Ended

Dec. 31, 2020

13.	Related Party Transactions

In accordance with agreements approved by the Board, we purchased inventory, in conjunction with our retail sale of the inventory, from certain entities affiliated with common members of the Company. For the three months ended December 31, 2020 and 2019, $15.1 million and $10.8 million, respectively, in total purchases were incurred under these arrangements. A subsidiary of the Company holds a warrant to purchase one such entity for equity in inventory plus $1, which approximates fair value, that expires on March 1, 2021.

In accordance with agreements approved by the Board, certain entities affiliated with common members of the Company receive fees for rent of commercial property. For the three months ended December 31, 2020 and 2019, $0.6 million in total expenses were incurred under these arrangements.

In accordance with agreements approved by the Board, the Company received fees from certain entities and individuals affiliated with common members of the Company for goods and services. For the three months ended December 31, 2020 and 2019, $0.1 million were recorded under these arrangements.

In accordance with agreements approved by the Board, the Company made payments to certain entities and individuals affiliated with common members of the Company for goods and services. No amounts were recorded under these arrangements for the three months ended December 31, 2020. For the three months ended December 31, 2019, $0.2 million was recorded under these arrangements. Included in this amount and in connection with our notes payable floor plan financing, our Chief Executive Officer was paid a guarantee fee of $0.2 million for the three months ended December 31, 2019, for his personal guarantee associated with this arrangement.

In connection with transactions noted above, the Company was due $6,462 and $0.1 million as recorded within accounts receivable as of both December 31, 2020 and September 30, 2020.

As of December 31, 2020 the Company had an outstanding tax distribution payable in the amount of $0.2 million to a common member of the Company.