v3.26.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2026
Leases [Abstract]  
Schedule of Lease Cost and Activity
The Company's lease costs and activity during the three and nine months ended September 30, 2026 and 2025 were as follows:

Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Lease costs:
Finance leases:
Amortization of finance lease assets$23 $24 $71 $70 
Interest obligations under finance leases2 2 6 7 
Total finance lease costs$25 $26 $77 $77 
Operating leases:
Fixed lease costs to non-related parties$18 $15 $52 $47 
Fixed lease costs to related parties1 — 3 2 
Total operating lease costs$19 $15 $55 $49 
Cash payments related to lease liabilities included in operating cash flows:
Operating lease liabilities to non-related parties$79 $74 
Operating lease liabilities to related parties$2 $2 
Interest payments on finance lease liabilities$6 $7 
Cash payments related to lease liabilities included in financing cash flows:
Principal payments on finance lease liabilities$57 $69 
Schedule of Finance Lease, Maturity
The following table summarizes maturities of lease liabilities as of September 30, 2026:

Operating Leases (1)
Finance Leases
Related Party (2)
Non-Related PartyTotal OperatingTotal
(in millions)
Remainder of 2026$21 $1 $29 $30 $51 
202747 3 108 111 158 
202820 3 100 103 123 
202913 2 82 84 97 
20308 1 72 73 81 
Thereafter— 1 193 194 194 
Total minimum lease payments109 11 584 595 704 
Less: amount representing interest(9)(2)(124)(126)(135)
Total lease liabilities$100 $9 $460 $469 $569 
(1) Leases that are on a month-to-month basis, short-term leases, and lease extensions that the Company does not expect to exercise are not included.
(2) Related party lease payments exclude rent payments due under the DriveTime lease agreements for locations where the Company shares space with DriveTime, as those are variable lease payments contingent upon the Company's utilization of the leased assets.
Schedule of Operating Lease, Maturity
The following table summarizes maturities of lease liabilities as of September 30, 2026:

Operating Leases (1)
Finance Leases
Related Party (2)
Non-Related PartyTotal OperatingTotal
(in millions)
Remainder of 2026$21 $1 $29 $30 $51 
202747 3 108 111 158 
202820 3 100 103 123 
202913 2 82 84 97 
20308 1 72 73 81 
Thereafter— 1 193 194 194 
Total minimum lease payments109 11 584 595 704 
Less: amount representing interest(9)(2)(124)(126)(135)
Total lease liabilities$100 $9 $460 $469 $569 
(1) Leases that are on a month-to-month basis, short-term leases, and lease extensions that the Company does not expect to exercise are not included.
(2) Related party lease payments exclude rent payments due under the DriveTime lease agreements for locations where the Company shares space with DriveTime, as those are variable lease payments contingent upon the Company's utilization of the leased assets.
Schedule of Weighted-Average Remaining Lease Terms and Discount Rates
The weighted-average remaining lease terms and discount rates as of September 30, 2026 and 2025 were as follows, excluding short-term operating leases:

As of September 30,
20262025
Weighted-average remaining lease terms (years)
Operating leases7.17.0
Finance leases2.52.7
Weighted-average discount rate
Operating leases7.2 %7.4 %
Finance leases6.5 %6.2 %