| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1retained | 287.9 | 19.8% | 3.25% | 1.10 | 3.88% | +33 I-curve | — | — | — |
| Class A-2-A | 295.2 | 20.3% | 3.25% | 1.10 | 3.88% | +33 I-curve | 2029-01-29 | AAA | AAA |
| Class A-2-B | 205.6 | 14.1% | 3.25% | 1.10 | floating | +33 SOFR | 2029-01-29 | AAA | AAA |
| Class A-3 | 501.8 | 34.5% | 3.25% | 2.49 | 3.85% | +40 I-curve | 2030-07-29 | AAA | AAA |
| Class A-4 | 98.5 | 6.8% | 3.25% | 3.53 | 3.92% | +43 I-curve | 2031-02-28 | AAA | AAA |
| Class Bretained | 14.3 | 1.0% | 2.25% | 1.10 | floating | +33 SOFR | — | — | — |
| Class Cretained | 14.3 | 1.0% | 1.25% | — | — | — | — | — | — |
| Class Dretained | 14.3 | 1.0% | 0.25% | — | — | — | 2025-12-15 | — | — |
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, Academy Securities, CastleOak Securities, Scotia Capital |
| COPAR 2025-1 | COPAR 2024-1 | COPAR 2023-2 | COPAR 2023-1 | COPAR 2022-2 | COPAR 2022-1 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2025-11-05 | 2024-11-26 | 2023-10-11 | 2023-02-23 | 2022-08-10 | 2022-05-04 | 424B5 |
| Pool balance | $1,456.2MM | $1,116.1MM | $1,229.0MM | $1,495.7MM | $2,066.7MM | $2,025.8MM | 424B5 |
| WA Credit Score | 787+8 | 782 | 779 | 779 | 773 | 773 | 424B5 |
| WA APR | 7.27%+3.37pp | 7.56% | 5.13% | 3.90% | 3.57% | 3.62% | 424B5 |
| WA original term mo | 70.0+3.0 | 68.0 mo | 67.0 mo | 67.0 mo | 67.0 mo | 67.0 mo | 424B5 |
| % new vehicles | 26.4% | 28.6% | 38.1% | 39.5% | 35.0% | 34.4% | 424B5 |
| Geo top-3 | TX 10.3% FL 9.6% CA 7.4% | 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% | 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 | 1.67% | 2.77% | 8.21% | 9.31% | 8.11% | 6.26% | 424B5 |
| Pricing | |||||||
| AAA spread | +40 bps−16bps A-3 · 2.5y | +41 bps A-3 · 2.5y | — | +56 bps A-3 · 2.5y | +65 bps A-3 · 2.5y | — | FWP |
| Terms | |||||||
| Tranches | 8 | 8 | 8 | 7 | 8 | 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 2025-1 | GMCAR 2025-4 | TAOT 2025-D | CAOT 2025-4 | AART 2025-1 | WOART 2025-D | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2025-11-05 | 2025-11-05 | 2025-10-23 | 2025-10-22 | 2025-10-16 | 2025-10-15 | 424B5 |
| Pool balance | $1,456.2MM | $951.1MM | $1,998.8MM | $1,306.5MM | $1,122.0MM | $982.7MM | 424B5 |
| WA Credit Score | 787+28 | 781 | 771 | 759 | 734 | 757 | 424B5 |
| WA APR | 7.27%+0.74pp | 6.53% | 5.72% | 9.40% | 9.52% | 6.15% | 424B5 |
| WA original term mo | 70.0+3.8 | 13.0 mo | 65.8 mo | 66.2 mo | 70.6 mo | 68.6 mo | 424B5 |
| % new vehicles | 26.4% | 87.9% | 88.0% | 0.0% | 40.0% | 97.6% | 424B5 |
| Geo top-3 | TX 10.3% FL 9.6% CA 7.4% | TX 14.1% FL 7.1% CA 7.0% | CA 22.9% TX 15.8% IL 3.9% | CA 17.2% TX 9.8% FL 6.7% | TX 12.8% FL 8.8% CA 7.4% | FL 46.0% GA 18.7% NC 15.7% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 3.25%−1.50pp | 6.10% | 2.75% | 4.75% | 5.85% | 4.75% | calc |
| Enhancement, target | 3.50% | 6.10% | 3.60% | 4.75% | 6.70% | 5.65% | calc |
| Subordinate notes | 3.0%−1.0pp | 3.1% | 2.5% | 4.0% | 5.1% | 4.5% | calc |
| OC (initial) | 0.00% | 2.75% | 0.00% | 0.50% | 0.45% | 0.00% | 424B5 |
| OC target | 0.25% | 2.75% | 0.85% | 0.50% | 1.30% | 0.90% | 424B5 |
| OC floor | 0.25% | 2.75% | 0.85% | 0.50% | 1.30% | 0.50% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 1.67% | 2.68% | 4.94% | n.a. | n.a. | 6.55% | 424B5 |
| Pricing | |||||||
| AAA spread | +40 bps−1bps A-3 · 2.5y | +38 bps A-3 · 2.6y | +37 bps A-3 · 2.4y | +41 bps A-2a · 1.2y | +43 bps A-3 · 2.1y | +41 bps A-3 · 2.7y | FWP |
| Terms | |||||||
| Tranches | 8 | 7 | 6 | 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.
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 (272 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.