ALLCU raises $243.7 million in prime auto ABS
A new cohort of lenders, Dort Financial Credit Union, Gesa Credit Union and Liberty Federal Credit Union originated the loans and contributed them to the collateral pool.
Prime auto ABS
Tesla’s latest lease-backed transaction raises $750 million
Classes A1 through A4 benefit from credit enhancement levels of 27.00%; while classes B, C and D benefit from credit enhancement levels of 22.75%, 18.25% and 13.50%, respectively.
Oregon Community Credit Union will issue $307.3 million on auto loans
Used vehicles collateralize 53.01% of the underlying loans, and loans in OCCU 2026-1 have a balance of $34,185, with an annual percentage rate (APR) of 7.54%.
Carvana’s prime auto pool raises at lease $1.1 billion
Collateral quality is still generally in line with previous CRVNA series, however, and very recent Carvana pools have shown improvement in net credit losses from previous downturns.
Hyundai returns to raise $1.2 billion from prime auto leases
Recent securitizations have seen a shift toward sport-utility, crossover utility and electric vehicles, as well as higher concentrations of the Kia and Genesis brands.
GMCAR set to issue securitization backed by prime retail auto
Loans with original terms longer than 60 months now represent 71.7% of the pool, up from 70.4% in the prior deal.
Volkswagen prime leases back $1.5 billion in auto ABS
Fitch notes that the pool's collateral quality is consistent with previous transactions. The current deal has a FICO score of 774 and a diverse segment and vehicle mix.
Ally Bank issues $1.1 billion in prime auto ABS
Many credit drivers are stable; agencies are being vigilant about several macroeconomic factors that might destabilize borrowers' ability to keep servicing their auto loan debt. One is student loan debt.
General Motors raises $1 billion in prime auto ABS
Initially, all the class A notes will benefit from total hard credit enhancement that represents 6.10% of the note balance, and the components give the notes a strong credit boost.
Prime auto loans through Carvana will raise $934.7 million
There is also a class N tranche of notes that make payment to those noteholders if funds are available after the overcollateralization.
Volkswagen securitizes $750 million in prime retail auto loans
The capital structure for Volkswagen Auto Loan Enhanced Trust, series 2025-2, will remain the same, even though the deal can potentially be upsized to $1 billion.
Ally Bank’s auto credit-linked notes raise $3.9 billion
ABCLN 2025-B also benefits from a line of credit sized to cover up to five months of missed interest payments in the event Ally defaults on its interest obligations.
LADAR 2025-3 readies a $600 million auto ABS, its first prime deal
LADAR 2025-3's loss levels are notably lower than the rating agency's assumptions on the LADAR 2025-1 because the sponsor excluded borrowers with credit scores lower than 701 from the collateral pool.
Porsche vehicles support $717.9 million in auto ABS
PFAST 2025-1 will have to navigate a market where the underlying consumers are facing increased challenges from tariff-induced higher prices and a loosening labor market.
Stellantis approaches investors with $894 million auto ABS in tow
Credit enhancement builds over time and includes non-declining overcollateralization at 5.00% of the initial adjusted pool balance, and a reserve fund that represents 0.25%.
USAA’s prime auto loans portfolio supports $1.1 billion in ABS
The membership also claims a large wallet share of borrowers' financial services business, which supports a strong direct auto lending credit profile.
Global Lending’s auto loan pool to support $261.5 million in auto ABS
As the deal's servicer, GLS is considered less able to mitigate non-collateral risks on behalf of securitization bondholders, it is still experienced, with more than 35 ABS deals.
A fleet of new Ford trucks secures $1.3 billion in auto ABS
Credit performance in Ford's managed portfolio normalized recently, with June 2025, delinquencies reaching 1.38%. That was higher than 1.19% from a year prior, but lower than 1.62% at yearend 2019.
Carvana prepares to issue $1 billion in auto ABS
Coupons range from 4.17% on the A1 notes, rated P1/A1+ by Moody's and Fitch Ratings, respectively, to 5.38% on the class N notes, which S&P rates BB.
Toyota Lease Owner Trust aims to raise $1.1 billion
TLOT 2025-B has a couple of other credit strengths, including Toyota's experience as a sponsor and servicer, and the underlying loans' strong quality.
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