Auto Loans Receivable (Tables)

3 Months Ended

Mar. 31, 2026

Receivables [Abstract]

Auto Loans Receivable

The components of auto loans receivable, net of third-party unearned discounts and allowances for expected credit losses, at March 31, 2026, and December 31, 2025, are as follows:

	March 31, 2026		December 31, 2025
Total auto loans receivable	$	2,444.7	$	2,209.9
Accrued interest and fees	14.5		14.1
Deferred loan origination costs	13.5		11.8
Less: unearned discounts	(0.2)		(0.2)
Less: allowances for expected credit losses	(101.3)		(95.4)
Auto loans receivable, net	$	2,371.2	$	2,140.2

Financing Receivable Credit Quality Indicators

The following tables present auto loans receivable as of March 31, 2026, and December 31, 2025, disaggregated by major credit program tier, in descending order of highest likelihood of repayment:

		Fiscal Year of Origination
As of March 31, 2026	Weighted Average FICO Score	2026		2025		2024		2023		2022		Prior to 2022		Total
Credit Program Tier(1):
Palladium	733	$	174.7	$	513.3	$	113.5	$	—	$	—	$	—	$	801.5
Rhodium	693	177.7		340.1		88.9		9.5		—		—		616.2
Platinum	651	88.8		470.4		323.1		45.8		0.8		1.5		930.4
Gold	623	2.9		23.1		38.7		12.6		0.5		2.6		80.4
Silver	575	0.5		2.8		0.2		6.5		0.5		1.3		11.8
Bronze	548	0.4		0.9		—		2.0		0.1		0.6		4.0
Copper	539	—		0.2		—		0.1		—		0.1		0.4
Total auto loans receivable		$	445.0	$	1,350.8	$	564.4	$	76.5	$	1.9	$	6.1	$	2,444.7
Current-period gross write-offs		$	—	$	14.7	$	12.2	$	4.3	$	0.1	$	0.5	$	31.8
		Fiscal Year of Origination
As of December 31, 2025	Weighted Average FICO Score	2025		2024		2023		2022		2021		Prior to 2021		Total
Credit Program Tier(1):
Palladium	732	$	569.6	$	127.0	$	—	$	—	$	—	$	—	$	696.6
Rhodium	695	369.6		98.9		10.9		—		—		—		479.4
Platinum	651	513.1		359.0		52.5		1.0		1.8		0.3		927.7
Gold	623	25.5		43.3		14.7		0.6		3.1		0.5		87.7
Silver	575	3.0		0.2		7.8		0.5		1.7		0.2		13.4
Bronze	548	1.0		0.1		2.3		0.1		0.9		0.1		4.5
Copper	549	0.3		—		0.1		—		0.2		—		0.6
Total auto loans receivable		$	1,482.1	$	628.5	$	88.3	$	2.2	$	7.7	$	1.1	$	2,209.9
(1) Classified based on credit grade assigned when customer was initially approved for financing.

Financing Receivable, Allowance for Credit Loss

The following is a rollforward of our allowance for expected credit losses for auto loans receivable for the three months ended March 31, 2026 and 2025:

	Three Months Ended March 31,
	2026		2025
Balance as of beginning of year	$	95.4	$	54.8
Provision for credit losses	19.6		19.2
Write-offs	(31.8)		(14.7)
Recoveries(1)	18.1		7.6
Balance as of end of period	$	101.3	$	66.9
(1) Includes proceeds from the recovery of vehicle collateral, net of costs incurred.

Financing Receivable, Past Due

The following table presents past due auto loans receivable, as of March 31, 2026, and December 31, 2025:

	Age Analysis of Past-Due Auto Loans Receivable as of
	March 31, 2026		December 31, 2025
31-60 Days	$	40.5	$	44.2
61-90 Days	7.7		10.8
Greater than 90 Days	3.4		4.2
Total Past Due	$	51.6	$	59.2
Current	2,393.1		2,150.7
Total	$	2,444.7	$	2,209.9