| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | Fitch |
|---|---|---|---|---|---|---|---|
| Class A-1 Notes | 99.0 | 10.1% | 84.2% | 4.86% fxd | — | 2025-10-15 | F1+ |
| Class A-2 Notes | 178.4 | 18.3% | 65.9% | 4.79% fxd | — | 2027-04-15 | AAA |
| Class A-3 Notes | 113.6 | 11.6% | 54.3% | 4.45% fxd | — | 2028-03-15 | AAA |
| Class B Notes | 155.7 | 16.0% | 38.4% | 4.48% fxd | — | 2029-04-16 | AA |
| Class C Notes | 133.3 | 13.6% | 24.7% | 4.64% fxd | — | 2030-01-15 | A |
| Class D Notes | 133.8 | 13.7% | 11.0% | 5.06% fxd | — | 2031-02-18 | BBB |
| Class E | 107.4 | 11.0% | 0.0% | — | — | — | — |
| Sponsor | Exeter Finance LLC |
|---|---|
| Servicer | Exeter Finance LLC |
| Depositor / Transferor | EFCAR, LLC |
| Indenture Trustee | Citibank, N.A |
| Owner Trustee | Wilmington Trust Company |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | Barclays Capital, J.P. Morgan Securities, Deutsche Bank Securities, Wells Fargo Securities, Citigroup Global Markets, Mizuho Securities |
| EART 2024-5 | EART 2024-4 | EART 2024-3 | EART 2024-2 | EART 2024-1 | EART 2023-5 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-09-30 | 2024-07-30 | 2024-05-28 | 2024-04-05 | 2024-01-31 | 2023-11-15 |
| Pool balance | $976.3MM | $925.3MM | $869.8MM | $859.3MM | $702.3MM | $789.2MM |
| WA Credit Score | 601+6 | 599 | 591 | 592 | 595 | 595 |
| WA APR | 18.94%−2.35pp | 20.25% | 21.76% | 21.29% | 21.48% | 20.65% |
| WA original term mo | 75.0+1.0 | 75.0 mo | 74.0 mo | 74.0 mo | 74.0 mo | 73.0 mo |
| % new vehicles | — | — | — | — | — | — |
| Reserve % | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% | 1.00% |
| Geo top-3 | TX 16.4% CA 11.0% FL 8.1% | TX 15.7% CA 10.3% FL 8.1% | TX 15.4% CA 9.6% FL 8.0% | TX 15.7% CA 9.3% FL 8.3% | TX 14.8% CA 10.1% FL 8.7% | TX 14.9% CA 9.8% FL 9.1% |
| Structure (at issuance) | ||||||
| AAA spread | — | +55 bps | +56 bps | +44 bps | +45 bps | +80 bps |
| AAA % of pool | 29.9%−2.3pp | 34.1% | 33.3% | 22.5% | 32.2% | 30.3% |
| Subordination below AAA | 54.3%+2.5pp | 51.4% | 50.5% | 60.1% | 53.2% | 51.8% |
| OC (initial) | 5.65% | 6.00% | 6.25% | 7.55% | 5.65% | 7.60% |
| OC target | 11.85% | 15.75% | 15.25% | 17.55% | 12.65% | 16.20% |
| OC floor | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
| YSOC | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. |
| Tranches | 7 | 7 | 7 | 7 | 7 | 7 |
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.
| EART 2024-5 | DRIVE 2024-2 | SDART 2024-4 | CMXS 2024-A | |
|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||
| Closing date | 2024-09-30 | 2024-09-25 | 2024-08-21 | 2024-06-26 |
| Pool balance | $976.3MM | $2,191.8MM | $1,989.0MM | $666.7MM |
| WA Credit Score | 601−2 | 586 | 604 | 603 |
| WA APR | 18.94%+0.40pp | 19.84% | 18.54% | 16.06% |
| WA original term mo | 75.0+3.7 | 71.7 mo | 71.3 mo | 68.5 mo |
| % new vehicles | — | 31.7% | 30.4% | 0.0% |
| Reserve % | 1.00% | 1.00% | 1.00% | 6.25% |
| Geo top-3 | TX 16.4% CA 11.0% FL 8.1% | TX 20.6% FL 12.7% CA 7.6% | TX 15.9% FL 11.8% CA 8.9% | CA 15.2% TX 14.4% FL 9.4% |
| Structure (at issuance) | ||||
| AAA spread | — | +60 bps | +65 bps | +73 bps |
| AAA % of pool | 29.9%−21.9pp | 38.2% | 51.8% | 54.5% |
| Subordination below AAA | 54.3%+24.0pp | 30.3% | 31.7% | 22.8% |
| OC (initial) | 5.65% | 22.00% | 8.95% | 6.25% |
| OC target | 11.85% | 26.75% | 13.95% | 14.35% |
| OC floor | 1.50% | 3.50% | 2.00% | 0.50% |
| YSOC | n.a. | n.a. | n.a. | n.a. |
| Tranches | 7 | 6 | 6 | 7 |
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 (54 series across 3 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.
Exeter Finance LLC — ticker EART.
Peer tier: subprime.
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FICO sub-band and new/used stratification.