| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1retained | 200.0 | 17.9% | 3.25% | — | — | — | 2025-12-15 | — | — |
| Class A-2a | 314.8 | 28.2% | 3.25% | 1.02 | 4.61% | +32 I-curve | 2027-10-15 | AAA | AAA |
| Class A-2b | 78.8 | 7.1% | 3.25% | 1.02 | floating | +32 SOFR | 2027-10-15 | AAA | AAA |
| Class A-3 | 393.6 | 35.3% | 3.25% | 2.46 | 4.62% | +41 I-curve | 2029-07-15 | AAA | AAA |
| Class A-4 | 65.4 | 5.9% | 3.25% | 3.47 | 4.66% | +46 I-curve | 2030-01-15 | AAA | AAA |
| Class B | 10.8 | 1.0% | 2.25% | — | — | — | 2030-02-15 | — | — |
| Class C | 10.8 | 1.0% | 1.25% | — | — | — | 2030-04-15 | — | — |
| Class Dretained | 10.8 | 1.0% | 0.25% | — | — | — | 2031-01-15 | — | — |
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 | Capital One, National Association |
|---|---|
| Servicer | Capital One, National Association |
| Depositor / Transferor | Capital One Auto Receivables, LLC |
| Indenture Trustee | BNY Mellon Trust of Delaware |
| Owner Trustee | Clayton Fixed Income Services LLC |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | J.P. Morgan Securities, BofA Securities, Wells Fargo Securities, Academy Securities, CastleOak Securities |
| COPAR 2024-1 | COPAR 2023-2 | COPAR 2023-1 | COPAR 2022-2 | COPAR 2022-1 | COPAR 2021-1 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-11-26 | 2023-10-11 | 2023-02-23 | 2022-08-10 | 2022-05-04 | 2021-10-27 | 424B5 |
| Pool balance | $1,116.1MM | $1,229.0MM | $1,495.7MM | $2,066.7MM | $2,025.8MM | $1,356.5MM | 424B5 |
| WA Credit Score | 782+8 | 779 | 779 | 773 | 773 | 774 | 424B5 |
| WA APR | 7.56%+3.67pp | 5.13% | 3.90% | 3.57% | 3.62% | 3.89% | 424B5 |
| WA original term mo | 68.0+1.0 | 67.0 mo | 67.0 mo | 67.0 mo | 67.0 mo | 67.0 mo | 424B5 |
| % new vehicles | 28.6% | 38.1% | 39.5% | 35.0% | 34.4% | 33.0% | 424B5 |
| Geo top-3 | TX 12.5% FL 8.3% CA 7.9% | TX 14.9% CA 11.3% FL 7.7% | TX 14.3% CA 13.5% FL 8.1% | TX 13.9% CA 13.8% FL 8.4% | TX 13.9% CA 13.6% FL 8.4% | TX 13.4% CA 12.9% FL 9.1% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 3.25%0.00pp | 3.25% | 3.25% | 3.25% | 3.25% | 3.25% | calc |
| Enhancement, target | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | 3.50% | calc |
| Subordinate notes | 3.0%0.0pp | 3.0% | 3.0% | 3.0% | 3.0% | 3.0% | calc |
| OC (initial) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 424B5 |
| OC target | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| OC floor | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 2.77% | 8.21% | 9.31% | 8.11% | 6.26% | n.a. | 424B5 |
| Pricing | |||||||
| AAA spread | +41 bps−15bps A-3 · 2.5y | — | +56 bps A-3 · 2.5y | +65 bps A-3 · 2.5y | — | +6 bps A-3 · 2.5y | FWP |
| Terms | |||||||
| Tranches | 8 | 8 | 7 | 8 | 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.
| COPAR 2024-1 | VALET 2024-1 | FCAOT 2024-D | CAOT 2024-4 | HAROT 2024-4 | NAROT 2024-B | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-11-26 | 2024-11-26 | 2024-11-22 | 2024-11-05 | 2024-10-24 | 2024-10-23 | 424B5 |
| Pool balance | $1,116.1MM | $1,749.4MM | $1,683.4MM | $1,417.7MM | $2,159.2MM | $1,397.8MM | 424B5 |
| WA Credit Score | 782+14 | 774 | 754 | 758 | 768 | 783 | 424B5 |
| WA APR | 7.56%+2.77pp | 4.67% | 4.79% | 9.66% | 4.88% | 4.63% | 424B5 |
| WA original term mo | 68.0+3.1 | — | 64.9 mo | 66.2 mo | 61.2 mo | — | 424B5 |
| % new vehicles | 28.6% | 80.0% | 94.2% | 0.0% | 86.2% | 10.0% | 424B5 |
| Geo top-3 | TX 12.5% FL 8.3% CA 7.9% | TX 13.9% CA 10.6% FL 8.3% | TX 16.1% CA 8.6% FL 8.5% | CA 16.7% TX 11.1% FL 7.3% | CA 17.5% TX 9.9% FL 6.9% | TX 17.1% FL 8.8% CA 6.2% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 3.25%−1.00pp | 4.25% | 5.25% | 5.00% | 2.75% | 4.25% | calc |
| Enhancement, target | 3.50% | — | 7.25% | 5.00% | — | 4.25% | calc |
| Subordinate notes | 3.0%+3.0pp | 0.0% | 5.0% | 3.5% | 0.0% | 0.0% | calc |
| OC (initial) | 0.00% | 4.00% | 0.00% | 1.25% | 2.50% | 4.00% | 424B5 |
| OC target | 0.25% | — | 2.00% | 1.25% | — | 4.00% | 424B5 |
| OC floor | 0.25% | — | 2.00% | 1.25% | — | 4.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 2.77% | 10.68% | 6.20% | n.a. | n.a. | 6.85% | 424B5 |
| Pricing | |||||||
| AAA spread | +41 bps−6bps A-3 · 2.5y | — | +41 bps A-3 · 2.4y | +53 bps A-3 · 2.7y | +48 bps A-3 · 2.3y | +47 bps A-3 · 2.2y | FWP |
| Terms | |||||||
| Tranches | 8 | 5 | 7 | 8 | 4 | 5 | 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 (242 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.
Capital One, National Association — ticker COPAR.
Peer tier: prime.
Open the performance page ↗ for
FICO sub-band and new/used stratification.