| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1retained | 234.3 | 21.0% | 5.85% | 0.17 | — | — | — | A-1+ | F1+ |
| Class A-2 | 346.5 | 31.1% | 5.85% | 0.84 | 4.46% | +50 I-curve | 2027-07-15 | AAA | AAA |
| Class A-3 | 396.5 | 35.6% | 5.85% | 2.19 | 4.14% | +67 I-curve | 2029-07-16 | AAA | AAA |
| Class A-4retained | 75.2 | 6.7% | 5.85% | 3.49 | 4.14% | +73 I-curve | 2030-10-15 | AAA | AAA |
| Class B | 23.4 | 2.1% | 3.75% | — | — | — | — | — | — |
| Class C | 19.5 | 1.7% | 2.00% | — | — | — | — | — | — |
| Class D | 14.5 | 1.3% | 0.70% | — | — | — | — | — | — |
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 | Clayton Fixed Income Services LLC |
| Underwriters | BofA Securities, Barclays Capital, J.P. Morgan Securities, Academy Securities, Lloyds Securities, SMBC Nikko Securities |
| AART 2024-2 | AART 2024-1 | AART 2023-1 | AART 2022-3 | AART 2022-2 | AART 2022-1 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-09-27 | 2024-03-13 | 2023-07-19 | 2022-12-14 | 2022-10-12 | 2022-05-18 | 424B5 |
| Pool balance | $1,114.9MM | $1,122.0MM | $1,108.9MM | $988.5MM | $1,072.0MM | $1,084.6MM | 424B5 |
| WA Credit Score | 734+5 | 734 | 730 | 729 | 729 | 724 | 424B5 |
| WA APR | 9.89%+3.12pp | 9.62% | 8.68% | 6.77% | 6.55% | 6.56% | 424B5 |
| WA original term mo | 71.0+1.1 | 71.0 mo | 69.4 mo | 70.1 mo | 69.4 mo | 69.9 mo | 424B5 |
| % new vehicles | 40.3% | 40.0% | 41.6% | 40.0% | 50.0% | 50.2% | 424B5 |
| Geo top-3 | TX 12.3% FL 9.7% CA 7.3% | 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% | 5.85% | calc |
| Enhancement, target | 6.70% | 6.70% | 6.70% | 6.70% | 6.70% | 6.70% | calc |
| Subordinate notes | 5.1%0.0pp | 5.2% | 5.2% | 5.2% | 5.2% | 5.2% | calc |
| OC (initial) | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% | 424B5 |
| OC target | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% | 424B5 |
| OC floor | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% | 1.30% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | 424B5 |
| Pricing | |||||||
| AAA spread | +67 bps−3bps A-3 · 2.2y | +66 bps 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 | 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 2024-2 | FCAOT 2024-C | HAROT 2024-3 | WOART 2024-C | CAOT 2024-3 | TAOT 2024-C | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-09-27 | 2024-09-20 | 2024-08-21 | 2024-08-20 | 2024-07-30 | 2024-07-30 | 424B5 |
| Pool balance | $1,114.9MM | $1,688.8MM | $2,159.2MM | $1,312.6MM | $1,414.1MM | $1,864.8MM | 424B5 |
| WA Credit Score | 734−24 | 756 | 768 | 756 | 758 | 769 | 424B5 |
| WA APR | 9.89%+3.85pp | 4.74% | 4.71% | 6.67% | 9.53% | 6.04% | 424B5 |
| WA original term mo | 71.0+5.7 | 64.8 mo | 61.3 mo | 68.1 mo | 66.0 mo | 65.4 mo | 424B5 |
| % new vehicles | 40.3% | 93.9% | 85.3% | 96.2% | 0.0% | 87.0% | 424B5 |
| Geo top-3 | TX 12.3% FL 9.7% CA 7.3% | TX 16.1% FL 8.6% CA 8.4% | CA 16.2% TX 9.7% NY 6.7% | — | CA 17.4% TX 10.7% FL 8.0% | CA 16.3% TX 16.2% PA 4.6% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 5.85%+1.10pp | 5.25% | 2.75% | 4.75% | 5.00% | 2.75% | calc |
| Enhancement, target | 6.70% | 7.25% | — | 5.65% | 5.25% | 3.60% | calc |
| Subordinate notes | 5.1%+1.4pp | 5.0% | 0.0% | 4.5% | 3.8% | 2.5% | calc |
| OC (initial) | 0.45% | 0.00% | 2.50% | 0.00% | 1.00% | 0.00% | 424B5 |
| OC target | 1.30% | 2.00% | — | 0.90% | 1.25% | 0.85% | 424B5 |
| OC floor | 1.30% | 2.00% | — | 0.50% | 1.25% | 0.85% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | n.a. | 6.50% | n.a. | 7.77% | n.a. | 6.16% | 424B5 |
| Pricing | |||||||
| AAA spread | +67 bps+5bps A-3 · 2.2y | +58 bps A-3 · 2.5y | +63 bps A-3 · 2.3y | +67 bps A-3 · 2.8y | +62 bps A-3 · 2.7y | +55 bps A-3 · 2.4y | FWP |
| Terms | |||||||
| Tranches | 7 | 7 | 4 | 7 | 8 | 6 | 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 (227 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.