Presale Report  ·  Data as of 2026-01-28

Bridgecrest Lending Auto Securitization Trust 2026-1 Auto Loan subprime FINAL · CLOSED 2026-01-28

Notes
$646.0MM
Pool
$760.0MM
Reserve
1.50%
AAA Sub
41.1%
Sponsor: Bridgecrest Acceptance Corporation  ·  Servicer: Bridgecrest Acceptance Corporation  ·  Trustee: Computershare Trust Company, National Association

Capital Structure

ClassSize ($MM)% of PoolSub %CPN / SpreadWALLegal FinalS&PDBRS
Class A-171.59.4%75.6%+23 bps0.092027-01-31A-1+R-1(H)
Class A-2131.317.3%58.3%+50 bps0.482028-07-31AAAAAA
Class A-3131.317.3%41.1%+54 bps1.262029-12-31AAAAAA
Class B66.98.8%32.3%+70 bps1.902031-11-30AAAA
Class C97.312.8%19.5%+85 bps2.502031-11-30AA
Class D101.513.4%6.1%+135 bps3.332031-11-30BBBBBB
Class E46.46.1%0.0%+300 bps3.71BBBB

Transaction Parties

SponsorBridgecrest Acceptance Corporation
ServicerBridgecrest Acceptance Corporation
Depositor / TransferorBridgecrest Acceptance Corporation
Indenture TrusteeClayton Fixed Income Services LLC
Owner Trustee
Asset Rep. ReviewerClayton Fixed Income Services LLC
UnderwritersDeutsche Bank Securities, BMO Capital Markets, Wells Fargo Securities, Citigroup Global Markets

Issuer Track Record

BLAST 2026-1BLAST 2025-4BLAST 2025-3BLAST 2025-2BLAST 2025-1BLAST 2024-4
Collateral (pool at cut-off)
Closing date2026-01-282025-10-222025-07-292025-05-232025-01-292024-10-23
Pool balance$760.0MM$700.0MM$550.0MM$850.0MM$725.0MM$800.0MM
WA Credit Score576+21576552555553555
WA APR21.76%−0.39pp22.02%22.04%22.15%22.49%22.62%
WA original term mo67.00.067.0 mo67.0 mo67.0 mo65.0 mo65.0 mo
% new vehicles0.4%0.3%0.2%0.2%0.1%
Reserve %1.50%1.50%1.50%1.50%1.50%1.50%
Geo top-3TX 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%
TX 13.1%
FL 12.6%
GA 8.6%
TX 13.4%
FL 12.6%
GA 8.4%
Structure (at issuance)
AAA spread+50 bps−3bps+60 bps+51 bps+65 bps+46 bps+53 bps
AAA % of pool34.5%+4.8pp35.6%28.8%29.7%28.2%34.2%
Subordination below AAA41.1%−4.2pp40.8%45.3%45.4%46.0%41.6%
OC (initial)15.00%15.00%15.00%15.10%14.00%14.00%
OC target20.90%20.00%20.75%20.90%20.00%18.75%
OC floor3.00%3.00%3.00%3.25%3.25%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 2026-1EART 2026-1SDART 2025-4CMXS 2025-BDRIVE 2025-2AMCAR 2024-1
Collateral (pool at cut-off)
Closing date2026-01-282026-01-282025-11-192025-09-242025-09-242024-05-29
Pool balance$760.0MM$1,123.3MM$1,919.2MM$923.1MM$1,866.5MM$1,675.9MM
WA Credit Score576−22598602612585588
WA APR21.76%+3.77pp18.71%17.99%16.05%19.81%13.57%
WA original term mo67.0−4.676.0 mo71.6 mo69.4 mo71.7 mo71.0 mo
% new vehicles0.4%29.6%0.0%28.1%56.9%
Reserve %1.50%1.00%1.00%2.50%1.00%1.00%
Geo top-3TX 13.4%
FL 11.0%
GA 8.6%
TX 22.2%
CA 10.9%
FL 7.9%
TX 15.3%
FL 12.1%
CA 9.3%
CA 16.3%
TX 12.8%
FL 9.2%
TX 17.7%
FL 12.4%
CA 7.8%
TX 16.3%
FL 7.4%
OH 7.1%
Structure (at issuance)
AAA spread+50 bps−8bps+49 bps+63 bps+56 bps+60 bps
AAA % of pool34.5%−17.1pp41.6%53.3%52.0%42.2%51.6%
Subordination below AAA41.1%+8.2pp47.8%33.0%23.4%32.8%25.3%
OC (initial)15.00%4.85%3.50%2.50%14.50%5.75%
OC target20.90%12.25%5.00%8.50%19.00%14.75%
OC floor3.00%1.50%2.00%0.50%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 (110 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 peers3.1%6.2%9.4%12.5%M0M12M24M36M48Seasoning (months from cut-off)CNLBLAST 2025-4BLAST 2025-3BLAST 2025-2BLAST 2025-1subprime peers medianPeer IQR (fixed cohort, n=73)
Portfolio 60+ DQ — BLAST vs. peers (calendar time)2.89%5.78%8.67%11.57%2023-012023-092024-062025-032025-12Calendar date60+ DQ rateBLASTAMCARCMXSDRIVE

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