| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 315.0 | 18.9% | 75.8% | +13 bps | 0.26 | 2026-04-15 | A-1+ | P-1 |
| Class A-2A | 326.0 | 19.5% | 56.2% | +41 bps | 1.03 | 2027-12-15 | Aaa | Aaa |
| Class A-2B | 250.0 | 15.0% | 41.2% | +41 bps SOFR | 1.03 | 2027-12-15 | Aaa | Aaa |
| Class A-3 | 513.6 | 30.8% | 10.4% | +48 bps | 2.34 | 2029-10-15 | Aaa | Aaa |
| Class A-4 | 95.4 | 5.7% | 4.7% | +56 bps | 3.41 | 2031-02-15 | Aaa | Aaa |
| Class B | 47.4 | 2.8% | 1.9% | +93 bps | 3.47 | 2031-02-15 | AA | Aa2 |
| Class C | 31.6 | 1.9% | 0.0% | — | — | 2032-09-15 | — | — |
| Sponsor | Ford Motor Credit Company LLC |
|---|---|
| Servicer | Ford Motor Credit Company LLC |
| Depositor / Transferor | Credit Company LLC |
| Indenture Trustee | The Bank of New York Mellon |
| Owner Trustee | U.S. Bank Trust National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | Deutsche Bank Securities, Credit Agricole Securities, CastleOak Securities, U.S. Bancorp Investments, BNY Mellon Capital Markets, Scotia Capital |
| FCAOT 2025-A | FCAOT 2024-D | FCAOT 2024-C | FCAOT 2024-B | FCAOT 2024-A | FCAOT 2023-C | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-03-25 | 2024-11-22 | 2024-09-20 | 2024-06-24 | 2024-03-19 | 2023-11-21 |
| Pool balance | $1,668.4MM | $1,683.4MM | $1,688.8MM | $1,999.5MM | $1,696.7MM | $1,443.4MM |
| WA Credit Score | 7550 | 754 | 756 | 755 | 756 | 753 |
| WA APR | 4.81%+0.02pp | 4.79% | 4.74% | 4.65% | 4.80% | 4.92% |
| WA original term mo | 64.80.0 | 64.9 mo | 64.8 mo | 64.8 mo | 63.7 mo | 63.6 mo |
| % new vehicles | 94.3% | 94.2% | 93.9% | 93.6% | 92.5% | 91.2% |
| Reserve % | 0.24% | 0.23% | 0.23% | 0.23% | 0.23% | 0.23% |
| Geo top-3 | TX 15.6% CA 8.9% FL 8.8% | TX 16.1% CA 8.6% FL 8.5% | TX 16.1% FL 8.6% CA 8.4% | TX 16.0% CA 8.5% FL 8.4% | TX 16.0% CA 9.1% FL 8.6% | TX 16.0% CA 9.6% FL 8.4% |
| Structure (at issuance) | ||||||
| AAA spread | +41 bps+1bps | +32 bps | +40 bps | +40 bps | +36 bps | +55 bps |
| AAA % of pool | 71.0%+1.5pp | 69.5% | 69.3% | 70.0% | 70.4% | 68.2% |
| Subordination below AAA | 4.7%+0.1pp | 4.7% | 4.7% | 4.3% | 4.7% | 4.6% |
| OC (initial) | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
| OC target | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
| OC floor | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% |
| YSOC | 5.36% | 6.20% | 6.50% | 7.87% | 5.77% | 7.07% |
| 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.
| FCAOT 2025-A | VALET 2025-1 | HART 2025-A | BMWOT 2025-A | HAROT 2025-1 | TAOT 2025-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-03-25 | 2025-03-25 | 2025-03-12 | 2025-02-12 | 2025-02-11 | 2025-01-29 |
| Pool balance | $1,668.4MM | $1,427.5MM | $2,188.3MM | $1,897.4MM | $2,429.2MM | $1,977.2MM |
| WA Credit Score | 755−14 | 772 | 769 | 784 | 768 | 769 |
| WA APR | 4.81%−0.62pp | 5.43% | 5.57% | 3.35% | 4.96% | 6.01% |
| WA original term mo | 64.8−0.6 | — | 67.9 mo | 65.1 mo | 61.7 mo | 65.7 mo |
| % new vehicles | 94.3% | 79.0% | 96.6% | 70.5% | 86.2% | 91.0% |
| Reserve % | 0.24% | 0.23% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | TX 15.6% CA 8.9% FL 8.8% | TX 16.3% FL 8.5% CA 7.8% | CA 12.9% TX 12.5% FL 9.5% | CA 14.6% TX 14.6% FL 11.6% | CA 16.5% NY 7.3% TX 7.3% | CA 19.7% TX 16.6% PA 4.2% |
| Structure (at issuance) | ||||||
| AAA spread | +41 bps+7bps | +44 bps | +34 bps | +30 bps | +40 bps | +33 bps |
| AAA % of pool | 71.0%−0.2pp | 69.6% | 67.4% | 73.8% | 72.8% | — |
| Subordination below AAA | 4.7%+4.7pp | 0.0% | 4.5% | 0.0% | 0.0% | — |
| OC (initial) | 2.00% | 4.00% | 3.00% | 2.50% | — | 0.85% |
| OC target | 2.00% | — | 3.00% | 2.50% | — | 0.85% |
| OC floor | 2.00% | — | 3.00% | 2.50% | — | 0.85% |
| YSOC | 5.36% | 8.78% | 6.01% | 5.40% | 5.71% | 3.90% |
| Tranches | 7 | 5 | 7 | 5 | 4 | 6 |
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 (176 series across 9 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.
Ford Motor Credit Company LLC — ticker FCAOT.
Peer tier: prime.
Open in Explorer ↗ for
FICO sub-band and new/used stratification.