America's Car-Mart sells used vehicles and provides in-house financing to customers with limited credit histories or constrained incomes. The company uses an integrated model where it both sells the car and holds the loan rather than using third-party lenders. Car-Mart specializes in older, high-mileage vehicles and operates primarily in small towns across the South-Central U.S. Revenue comes from vehicle sales and interest income on installment contracts. Because Car-Mart retains the credit risk, collections performance drives profitability. The company ties associate compensation to collections and uses contract modifications to manage repayment. Car-Mart funds its receivables through asset-backed securitizations but currently lacks a revolving warehouse facility to season new loans. This liquidity pressure forced a significant footprint consolidation, and the company now operates 94 dealerships across 12 states. Despite consistent collections and high demand, the company has disclosed substantial doubt regarding its ability to continue as a going concern. A special committee is currently reviewing strategic alternatives and recapitalization options to address capital structure challenges and secure the financing necessary to grow originations.