| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 266.0 | 23.7% | 5.85% | 0.24 | 5.53% | +15 I-curve | 2025-03-17 | A-1+ | F1+ |
| Class A-2 | 340.0 | 30.3% | 5.85% | 0.94 | 5.32% | +42 I-curve | 2027-01-15 | AAA | AAA |
| Class A-3 | 390.0 | 34.8% | 5.85% | 2.27 | 5.08% | +66 I-curve | 2028-12-15 | AAA | AAA |
| Class A-4 | 63.2 | 5.6% | 5.85% | 3.48 | 4.94% | +72 I-curve | 2029-10-15 | AAA | AAA |
| Class B | 23.6 | 2.1% | 3.75% | 3.51 | 5.16% | +95 I-curve | 2029-10-15 | AA+ | AA+ |
| Class C | 19.6 | 1.8% | 2.00% | 3.51 | 5.41% | +120 I-curve | 2029-11-15 | AA | A+ |
| Class Dretained | 14.6 | 1.3% | 0.70% | 3.51 | 5.80% | +160 I-curve | 2032-02-17 | A+ | BBB+ |
Enhancement: subordinate notes, overcollateralization and reserve beneath the class, as a share of the pool net of any yield supplement (the adjusted pool, as the issuers and rating agencies measure it); the Class A notes share losses pari passu, so each carries the same figure. Spread: basis points over the benchmark named beside it, from the pricing term sheet — the interpolated curve for fixed-rate classes, 30-day average SOFR for floaters; the two are not comparable. A class marked retained was kept by the depositor, as the prospectus states.
| Sponsor | Ally Bank |
|---|---|
| Servicer | Ally Bank |
| Depositor / Transferor | Ally Auto Assets LLC |
| Indenture Trustee | U.S. Bank Trust Company, National Association |
| Owner Trustee | BNY Mellon Trust of Delaware |
| Asset Rep. Reviewer | — |
| Underwriters | Barclays Capital, Deutsche Bank Securities, Citigroup Global Markets |
| AART 2024-1 | AART 2023-1 | AART 2022-3 | AART 2022-2 | AART 2022-1 | Source | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-03-13 | 2023-07-19 | 2022-12-14 | 2022-10-12 | 2022-05-18 | 424B5 |
| Pool balance | $1,122.0MM | $1,108.9MM | $988.5MM | $1,072.0MM | $1,084.6MM | 424B5 |
| WA Credit Score | 734+5 | 730 | 729 | 729 | 724 | 424B5 |
| WA APR | 9.62%+2.95pp | 8.68% | 6.77% | 6.55% | 6.56% | 424B5 |
| WA original term mo | 71.0+1.3 | 69.4 mo | 70.1 mo | 69.4 mo | 69.9 mo | 424B5 |
| % new vehicles | 40.0% | 41.6% | 40.0% | 50.0% | 50.2% | 424B5 |
| Geo top-3 | TX 13.1% FL 9.1% CA 6.9% | TX 13.4% FL 9.5% CA 6.2% | TX 11.8% CA 9.2% FL 9.0% | TX 12.2% CA 9.5% FL 9.4% | TX 12.6% CA 9.5% FL 9.4% | 424B5 |
| Enhancement beneath the AAA term notes | ||||||
| Enhancement, initial | 5.85%0.00pp | 5.85% | 5.85% | 5.85% | 5.85% | calc |
| Enhancement, target | 6.70% | 6.70% | 6.70% | 6.70% | 6.70% | calc |
| Subordinate notes | 5.2%0.0pp | 5.2% | 5.2% | 5.2% | 5.2% | calc |
| OC (initial) | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% | 424B5 |
| OC target | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% | 424B5 |
| OC floor | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | n.a. | n.a. | n.a. | n.a. | n.a. | 424B5 |
| Pricing | ||||||
| AAA spread | +66 bps−7bps A-3 · 2.3y | +82 bps A-3 · 2.5y | +77 bps A-3 · 2.1y | +70 bps A-3 · 2.3y | +68 bps A-3 · 2.2y | FWP |
| Terms | ||||||
| Tranches | 7 | 7 | 7 | 7 | 7 | FWP |
Enhancement: subordinate notes, overcollateralization and the reserve account as a share of the cutoff-date pool — the losses the pool can absorb before the AAA term notes are touched. AAA spread: the pricing spread over the interpolated curve for the fixed-rate AAA class whose weighted-average life is nearest two years, with that class and its WAL shown; floating-rate classes are never used. Source: 424B5 = final prospectus, FWP = pricing term sheet, calc = derived from the above. Deltas are against the peer median; green means more protection, or a cheaper price for it, for the noteholder.
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
| AART 2024-1 | HAROT 2024-1 | WOART 2024-A | TAOT 2024-A | MBART 2024-1 | GMCAR 2024-1 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-03-13 | 2024-02-21 | 2024-02-14 | 2024-01-30 | 2024-01-24 | 2024-01-17 | 424B5 |
| Pool balance | $1,122.0MM | $2,159.2MM | $1,343.7MM | $1,908.5MM | $1,459.5MM | $1,657.3MM | 424B5 |
| WA Credit Score | 734−33 | 768 | 757 | 767 | 754 | 783 | 424B5 |
| WA APR | 9.62%+3.66pp | 4.59% | 6.54% | 5.37% | 7.74% | 5.96% | 424B5 |
| WA original term mo | 71.0+3.4 | 62.2 mo | 67.6 mo | 66.0 mo | 69.6 mo | 69.0 mo | 424B5 |
| % new vehicles | 40.0% | 86.1% | 95.6% | 84.2% | 40.3% | — | 424B5 |
| Geo top-3 | TX 13.1% FL 9.1% CA 6.9% | NJ 4.9% MA 4.9% CA 4.8% | FL 47.9% GA 18.3% NC 15.8% | CA 23.9% TX 15.3% IL 4.6% | CA 21.6% FL 15.3% TX 14.3% | TX 14.0% FL 7.3% CA 5.4% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 5.85%+3.10pp | 2.75% | 5.00% | 2.75% | 2.75% | 6.10% | calc |
| Enhancement, target | 6.70% | — | 5.90% | 3.60% | 2.75% | 6.60% | calc |
| Subordinate notes | 5.2%+2.7pp | 0.0% | 4.5% | 2.5% | 0.0% | 4.4% | calc |
| OC (initial) | 0.45% | 2.50% | 0.25% | 0.00% | 2.50% | 1.50% | 424B5 |
| OC target | 1.30% | — | 1.15% | 0.85% | 2.50% | 2.00% | 424B5 |
| OC floor | 1.30% | — | 0.50% | 0.85% | 2.50% | 2.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | n.a. | n.a. | 8.53% | 8.30% | 4.47% | 5.45% | 424B5 |
| Pricing | |||||||
| AAA spread | +66 bps0bps A-3 · 2.3y | +66 bps A-3 · 2.3y | +65 bps A-3 · 2.6y | +60 bps A-3 · 2.4y | +66 bps A-3 · 2.7y | — | FWP |
| Terms | |||||||
| Tranches | 7 | 4 | 7 | 6 | 5 | 8 | FWP |
Enhancement: subordinate notes, overcollateralization and the reserve account as a share of the cutoff-date pool — the losses the pool can absorb before the AAA term notes are touched. AAA spread: the pricing spread over the interpolated curve for the fixed-rate AAA class whose weighted-average life is nearest two years, with that class and its WAL shown; floating-rate classes are never used. Source: 424B5 = final prospectus, FWP = pricing term sheet, calc = derived from the above. Deltas are against the peer median; green means more protection, or a cheaper price for it, for the noteholder.
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
Left: per-series cumulative NET loss at matched seasoning 10-D (10-D servicer distribution reports). IQR band uses a fixed cohort of all peer series with ≥18 months of data (210 series across 22 issuers). Right: portfolio-level 60+ DQ rate aggregated across all active deals per issuer (calendar time, last 3 years), from ABS-EE loan-level data ABS-EE.
Ally Bank — ticker AART.
Peer tier: prime.
Open the performance page ↗ for
FICO sub-band and new/used stratification.