Southern Auto Finance gets ready to float $200 million in notes
Southern Auto Finance uses a heavily automated origination process that puts applicants through several rounds of vetting, including income and employment verification.
Auto ABS
Prestige Auto raises $182.4 million in subprime auto loans
The collateral's annual percentage rate, loan-to-value and debt-to-income rates all decreased compared to the PART 2024-2 transaction.
Toyota Auto Receivables raises $1.3 billion from prime auto loans
Yields, are expected to come in ranging from 4.4% on the class A notes, to 4.5% on the class A4 notes.
Enterprise Fleet floats $1.2 billion in leases to small businesses
EFF 2025-2 will allocate revenue collections to the notes on a pro rata basis between the class A notes and the seller's interest after overcollateralization reaches its target.
Pagaya prepares to launch $295 million in auto ABS
Principal payments, will be repaid through three periods of a full turbo period, a non-turbo period and another full turbo period before an amortization trigger event.
Non-prime auto contracts back Credit Acceptance’s $500.1 million offering
There is also a full-turbo feature that will kick in after a two-year revolving period.
Santander Drive set to sell $1.5 billion in auto ABS
The non-prime pool benefits from a non-declining reserve fund of 1.0% of the initial pool balance, and subordination of 32.9% for the pool.
Subprime auto loans back Exeter Finance’s $1 billion securitization
Unlike estimated excess spread, which increased to 13.2%, from 12.8% on the EART 2024-4 transaction, several other forms of credit enhancement levels dropped.
Carvana Auto raises $602.7 million in prime auto ABS
Coupons range from 4.4% on the noted rates P1/A1+ from Moody's and S&P, to 5.66% on the notes rated Ba1/BB+.
First Help finances subprime auto pool with $239.7 million
FHF sources almost all its loans—most recently 96% in 2024—from franchise dealers.
Subprime lender Strike Acceptance floats $107.9 million in auto ABS
The deal is structured as a public securitization, under Rule 144A, and is supported by lending indirectly through more than 1,100 partnerships across the country.
United Auto Credit Securitization raises $324 million on subprime auto ABS
The United Auto 2025-1 series of notes has a more mixed subordination element compared with the previous deal.
General Motors sponsors $818.3 million issuance of prima auto ABS
GM Financial Revolving Receivables Trust, 2025-1 has a five-year-long revolving period, risking exposure to assets with longer terms.
NextGear gets set to sell $382.1 million in notes from dealer floorplan revenue
The deal also offers a subordination piece that represents 14% of the pool balance, helping to boost the credit to the notes.
Toyota enters market with jumbo prime auto ABS
Uncertain economic impact from government actions could drive disruptions
By
John Hintze
M&T Bank readies a $767.3 million sale of auto ABS from a prime portfolio
Aside from the assets' credit quality, the bank's 60 years of experience originating and servicing auto loans is a boost to the notes' credit.
Subprime lender GLS ready to sell $666.5 million in auto ABS
Borrowers in GCAR 2025-1's underlying collateral pool have a slightly lower FICO score than the GCAR 2024-4 deal, and they bought more new cars.
Driveway Finance readies a $600 million auto ABS
All the class A notes benefit from total initial hard credit enhancement totaling 21.0% of the pool balance. Classes B, C and D benefit from 17.0%, 11.5% and 6.5%, respectively.
GM Financial prepares to issue at least $1.4 billion in auto ABS
The GMALT 2025-1 securitization has just 24.4% of contracts with original leases longer than 36 months. It's the lowest level for the platform, a credit positive.
Subprime auto loans secure $639 million coming from American Credit Acceptance
Called collateral from various series increased to 6.0%, from 4.0%, while weighted average seasoning increased to 3.15 months from 2.82 months.
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