Presale Report  ·  Latest filing 2026-07-30
Pricing pending. Final tranche sizing (e.g. A-2a / A-2b split), coupons, spreads, and WALs populate after the pricing FWP and final 424B5 are filed — typically 2–5 business days before close. This report auto-refreshes on the next daily pipeline run after each new filing lands.

Bridgecrest Automobile Lease Trust 2026-3 Auto Loan subprime FINAL · PRE-PRICING

Notes
$725.0MM
Pool
$710.1MM
Reserve
1.50%
AAA Sub
49.5%
Sponsor: Bridgecrest Acceptance Corporation  ·  Servicer: Credit Risk Retention  ·  Trustee: Computershare Trust Company, National Association

Capital Structure

ClassSize ($MM)% of PoolSub %CPN / SpreadWALLegal FinalS&PDBRS
Class A-196.513.6%88.5%+29 bps0.12A-1+R-1(H)
Class A-2134.719.0%69.5%+55 bps0.54AAAAAA
Class A-3134.719.0%50.6%+57 bps1.24AAAAAA
Class B83.211.7%38.8%+65 bps1.86AAAA
Class C106.415.0%23.9%+80 bps2.45AA
Class D107.215.1%8.8%+135 bps3.24BBBBBB
Class E62.28.8%0.0%+315 bps3.71BB-BB

Transaction Parties

SponsorBridgecrest Acceptance Corporation
ServicerCredit Risk Retention
Depositor / TransferorBridgecrest Auto Funding LLC
Indenture TrusteeComputershare Trust Company, National Association
Owner Trustee
Asset Rep. ReviewerClayton Fixed Income Services LLC
UnderwritersBMO Capital Markets, Wells Fargo Securities, Deutsche Bank Securities, Citigroup Global Markets

Issuer Track Record

BLAST 2026-3BLAST 2026-2BLAST 2026-1BLAST 2025-4BLAST 2025-3BLAST 2025-2
Collateral (pool at cut-off)
Closing date2026-04-282026-01-282025-10-222025-07-292025-05-23
Pool balance$710.1MM$759.9MM$760.0MM$700.0MM$550.0MM$850.0MM
WA Credit Score573+1572576576552555
WA APR21.64%−0.38pp21.42%21.76%22.02%22.04%22.15%
WA original term mo67.00.067.0 mo67.0 mo67.0 mo67.0 mo67.0 mo
% new vehicles0.7%0.2%0.4%0.3%0.2%0.2%
Reserve %1.50%1.50%1.50%1.50%1.50%1.50%
Geo top-3TX 13.2%
FL 11.1%
GA 8.7%
TX 13.7%
FL 11.0%
GA 8.4%
TX 13.4%
FL 11.0%
GA 8.6%
TX 13.1%
FL 11.0%
GA 9.1%
TX 13.0%
FL 11.8%
GA 8.8%
TX 12.8%
FL 12.6%
GA 8.4%
Structure (at issuance)
AAA spread+55 bps−4bps+59 bps+50 bps+60 bps+51 bps+65 bps
AAA % of pool37.9%+5.5pp32.5%34.5%35.6%28.8%29.7%
Subordination below AAA50.6%+9.3pp41.2%41.1%40.8%45.3%45.4%
OC (initial)15.50%15.50%15.00%15.00%15.00%15.10%
OC target22.25%22.50%20.90%20.00%20.75%20.90%
OC floor3.00%3.00%3.00%3.00%3.00%3.25%
YSOCn.a.n.a.n.a.n.a.n.a.n.a.
Tranches777777

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.

Peer Set

BLAST 2026-3EART 2026-3CMXS 2026-BSDART 2026-1DRIVE 2025-2AMCAR 2024-1
Collateral (pool at cut-off)
Closing date2026-06-242026-06-162026-02-252025-09-242024-05-29
Pool balance$710.1MM$1,349.4MM$621.8MM$1,936.2MM$1,866.5MM$1,675.9MM
WA Credit Score573−15584613605585588
WA APR21.64%+3.60pp18.58%16.30%18.04%19.81%13.57%
WA original term mo67.0−4.777.0 mo70.1 mo71.8 mo71.7 mo71.0 mo
% new vehicles0.7%0.0%26.7%28.1%56.9%
Reserve %1.50%1.00%3.50%1.00%1.00%1.00%
Geo top-3TX 13.2%
FL 11.1%
GA 8.7%
TX 20.3%
CA 10.8%
FL 8.2%
CA 16.9%
TX 13.5%
FL 8.3%
TX 15.6%
FL 13.2%
CA 9.3%
TX 17.7%
FL 12.4%
CA 7.8%
TX 16.3%
FL 7.4%
OH 7.1%
Structure (at issuance)
AAA spread+55 bps−3bps+60 bps+58 bps+53 bps+56 bps+60 bps
AAA % of pool37.9%−13.7pp37.3%54.8%53.7%42.2%51.6%
Subordination below AAA50.6%+17.7pp47.9%27.2%33.9%32.8%25.3%
OC (initial)15.50%6.80%3.50%2.20%14.50%5.75%
OC target22.25%12.25%10.00%3.65%19.00%14.75%
OC floor3.00%1.50%0.50%2.00%3.00%
YSOCn.a.n.a.n.a.n.a.n.a.
Tranches787768

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.

Historical Performance Context

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 (115 series across 6 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.

CNL by seasoning — BLAST vs. subprime peers3.3%6.6%9.8%13.1%M0M12M24M36M48Seasoning (months from cut-off)CNLBLAST 2026-1BLAST 2025-4BLAST 2025-3BLAST 2025-2subprime peers medianPeer IQR (fixed cohort, n=79)
Portfolio 60+ DQ — BLAST vs. peers (calendar time)2.89%5.78%8.67%11.57%2023-072024-032024-122025-092026-06Calendar date60+ DQ rateBLASTAMCARCMXSDRIVE

Bridgecrest Acceptance Corporation — ticker BLAST. Peer tier: subprime.
Open in Explorer ↗ for FICO sub-band and new/used stratification.