Credit Facilities (Tables)

3 Months Ended

Mar. 31, 2013

CREDIT FACILITIES SUMMARY [Abstract]

Credit Faclities Summary [Table Text Block]

Amounts outstanding under our credit facilities are as follows (in thousands):

	March 31, 2013		December 31, 2012
Syndicated warehouse facility	$	948,272
Lease warehouse facility – U.S.	863,721
Floorplan warehouse facility - U.S.	500,000
Lease warehouse facility – Canada	407,141		$	354,203
	$	2,719,134	$	354,203

Schedule of Line of Credit Facilities [Table Text Block]

Further detail regarding terms and availability of the credit facilities as of March 31, 2013 is as follows (in thousands):

Facility	Facility Amount		Advances Outstanding		Assets Pledged (f)		Restricted Cash Pledged (g)
Syndicated warehouse facility(a)	$	2,500,000	$	948,272	$	1,215,978	$	24,315
Lease warehouse facility – U.S.(b)	1,200,000		863,721		1,418,025
Floorplan warehouse facility - U.S.(c)	1,000,000		500,000		739,638		6,849
Lease warehouse facility – Canada(d)	787,440		407,141		629,100		2,998
GM Related Party Credit Facility(e)	300,000
	$	5,787,440	$	2,719,134	$	4,002,741	$	34,162

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(a) In May 2013, when the revolving period ends, and if the facility is not renewed, the outstanding balance will be repaid over time based on the amortization of the receivables pledged until February 2020 when the remaining balance will be due and payable.

(b) In May 2014, when the revolving period ends, and if the facility is not renewed, the outstanding balance will be repaid over time based on the amortization of the leasing related assets pledged until November 2019 when any remaining amount outstanding will be due and payable.

(c) In March 2013 we entered into a $1.0 billion floorplan facility in the U.S. In March 2014, when the revolving period ends, and if the facility is not renewed, the outstanding balance will be repaid in fixedamountsover a six month period, with a final maturity in August 2014.

(d) In July 2013, when the revolving period ends, and if the facility is not renewed, the outstanding balance will be repaid over time based on the amortization of the leasing related assets pledged until January 2019 when any remaining amount outstanding will be due and payable. This facility amount represents C$800.0 million, and advances outstanding of

C$413.6 million.

(e) Effective April 1, 2013, we renewed and increased the GM Related Party Credit Facility ("GM Related Party Credit Facility") with GM Holdings to $1.5 billion. The facility will be reduced to $600.0 million in June 2013, and has maturity date of September 2014.

(f) Borrowings on the warehouse facilities are collateralized by finance receivables, while borrowings on the lease warehouse facilities are collateralized by leasing related assets.

(g) These amounts do not include cash collected on finance receivables and leasing related assets pledged of $18.9 million, which are also included in restricted cash – credit facilities on the consolidated balance sheets.

Three Month Current Year Credit Facilty Metrics [Table Text Block]

Three Month Prior Year Credit Facility Metrics [Table Text Block]

Year to Date Current Year Credit Facility Metrics [Table Text Block]

three months ended March 31, 2013 (dollars in thousands):

Facility Type	Weighted Average Interest Rate		Average Amount Outstanding		Maximum Amount Outstanding
Syndicated warehouse facility	1.40	%	$	52,682	$	948,272
Lease warehouse facility – U.S.	1.82	%	57,581		863,721
Lease warehouse facility – Canada(a)	2.67	%	381,546		407,141
Floorplan warehouse facility - U.S.	0.91	%	27,778		500,000

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(a) Average amount outstanding and maximum amount outstanding represent C$387.6 million and C$413.6 million.

Year to Date Prior Year Credit Facility Metrics [Table Text Block]

he following table presents the weighted average interest rate, the average amount outstanding and the maximum amount outstanding on the syndicated warehouse facility and the lease warehouse facility – Canada during the three months ended March 31, 2012 (dollars in thousands):

Facility Type	Weighted Average Interest Rate		Average Amount Outstanding		Maximum Amount Outstanding
Syndicated warehouse facility	1.63	%	$	128,309	$	621,257
Lease warehouse facility – Canada(a)	2.59	%	212,485		248,176

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(a) Average amount outstanding and maximum amount outstanding represent C$212.4 million and C$248.0 million.

There were no borrowings or repayments on the lease warehouse facility – U.S. or the GM Related Party Credit Facility during the three months ended March 31, 2012.