| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P |
|---|---|---|---|---|---|---|---|
| Class A-1 | 30.0 | 8.9% | 88.3% | +31 bps | 0.14 | 2026-05-15 | A-1+ |
| Class A-2 | 105.3 | 31.3% | 57.1% | +88 bps | 0.89 | 2028-10-16 | AAA |
| Class A-3 | 89.5 | 26.6% | 30.5% | +98 bps | 2.23 | 2030-04-15 | AAA |
| Class B | 23.4 | 7.0% | 23.5% | +115 bps | 3.14 | 2031-08-15 | AA |
| Class C | 37.5 | 11.1% | 12.4% | +165 bps | 3.71 | 2031-08-15 | A |
| Class D | 35.0 | 10.4% | 2.0% | +235 bps | 4.52 | 2031-09-15 | BBB |
| Class E | 6.7 | 2.0% | 0.0% | 8.44% fxd | 4.89 | 2032-12-15 | BB |
| 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 | Deutsche Bank Securities, Wells Fargo Securities, Barclays Capital, Citigroup Global Markets |
Earliest Exeter Select Automobile Receivables Trust transaction in our coverage — no prior issuance to compare.
| EARTS 2025-1 | CRVNA 2025-P1 | WOSAT 2024-A | CAOT 2024-1 | |
|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||
| Closing date | 2025-04-23 | 2025-03-17 | 2024-07-24 | 2024-01-24 |
| Pool balance | $336.8MM | $602.8MM | $797.9MM | $1,565.7MM |
| WA Credit Score | 669−33 | 702 | 655 | 719 |
| WA APR | 15.86%+4.96pp | 14.06% | 10.80% | 10.90% |
| WA original term mo | 77.0+4.0 | 73.0 mo | 74.5 mo | 65.4 mo |
| % new vehicles | — | — | 90.7% | 0.0% |
| Reserve % | 1.00% | 0.20% | 0.50% | 1.00% |
| Geo top-3 | TX 21.1% FL 10.8% CA 9.1% | TX 11.7% CA 8.3% FL 7.2% | FL 54.1% GA 19.9% AL 10.6% | CA 16.4% TX 11.3% FL 8.1% |
| Structure (at issuance) | ||||
| AAA spread | +88 bps+26bps | +52 bps | +62 bps | +62 bps |
| AAA % of pool | 57.8%−15.6pp | 82.4% | 59.6% | 73.4% |
| Subordination below AAA | 30.5%+20.3pp | 10.2% | 20.5% | 8.0% |
| OC (initial) | 2.75% | 0.00% | 3.00% | 1.00% |
| OC target | 6.80% | 0.20% | 6.00% | 1.00% |
| OC floor | 1.50% | 0.20% | 1.00% | 1.00% |
| YSOC | n.a. | n.a. | — | n.a. |
| Tranches | 7 | 8 | 8 | 8 |
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.
No performance data available for this issuer.
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