| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 297.0 | 19.9% | 75.5% | 3.83% fxd | 0.27 | 2027-03-15 | A-1+ | P-1 |
| Class A-2a | 253.0 | 17.0% | 58.5% | 4.02% fxd | 1.05 | 2029-01-15 | Aaa | Aaa |
| Class A-2b | 253.0 | 17.0% | 41.5% | +43 bps SOFR | 1.05 | 2029-01-15 | Aaa | Aaa |
| Class A-3 | 469.0 | 31.5% | 10.0% | 4.05% fxd | 2.37 | 2030-10-15 | Aaa | Aaa |
| Class A-4 | 78.0 | 5.2% | 4.8% | 4.16% fxd | 3.44 | 2032-04-15 | Aaa | Aaa |
| Class B | 42.6 | 2.9% | 1.9% | 4.34% fxd | 3.48 | 2032-04-15 | AA+ | Aa2 |
| Class C | 28.4 | 1.9% | 0.0% | — | — | 2033-09-15 | — | — |
| Sponsor | Ford Motor Credit Company LLC |
|---|---|
| Servicer | Ford Motor Credit Company LLC |
| Depositor / Transferor | Ford Credit and the depositor |
| 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 | Barclays Capital, Credit Agricole Securities, CastleOak Securities, U.S. Bancorp Investments, MUFG Securities Americas |
| FCAOT 2026-A | FCAOT 2025-C | FCAOT 2025-B | FCAOT 2025-A | FCAOT 2024-D | FCAOT 2024-C | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2026-03-24 | 2025-11-25 | 2025-09-26 | 2025-03-25 | 2024-11-22 | 2024-09-20 |
| Pool balance | $1,489.0MM | $1,096.6MM | $1,645.7MM | $1,668.4MM | $1,683.4MM | $1,688.8MM |
| WA Credit Score | 7540 | 752 | 752 | 755 | 754 | 756 |
| WA APR | 4.84%+0.03pp | 5.15% | 5.21% | 4.81% | 4.79% | 4.74% |
| WA original term mo | 65.8+0.9 | 65.9 mo | 66.0 mo | 64.8 mo | 64.9 mo | 64.8 mo |
| % new vehicles | 93.8% | 93.7% | 93.5% | 94.3% | 94.2% | 93.9% |
| Reserve % | 0.18% | 0.24% | 0.24% | 0.24% | 0.23% | 0.23% |
| Geo top-3 | TX 16.5% FL 8.6% CA 8.5% | TX 16.6% CA 8.8% FL 8.4% | TX 16.5% CA 8.7% FL 8.2% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | +43 bps+7bps | +36 bps | +30 bps | +41 bps | +32 bps | +40 bps |
| AAA % of pool | 70.7%+1.2pp | 69.3% | 71.7% | 71.0% | 69.5% | 69.3% |
| Subordination below AAA | 4.8%+0.0pp | 4.8% | 4.8% | 4.7% | 4.7% | 4.7% |
| 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 | 4.56% | 4.01% | 4.06% | 5.36% | 6.20% | 6.50% |
| 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 2026-A | HAROT 2026-1 | WOART 2026-A | HART 2026-A | TAOT 2026-A | GMCAR 2026-1 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2026-03-24 | 2026-02-18 | 2026-02-18 | 2026-02-18 | 2026-01-21 | 2026-01-14 |
| Pool balance | $1,489.0MM | $2,483.1MM | $1,312.6MM | $2,392.4MM | $1,995.4MM | $1,317.6MM |
| WA Credit Score | 754−17 | 770 | 758 | 775 | 771 | 779 |
| WA APR | 4.84%−0.84pp | 5.00% | 5.87% | 5.38% | 5.68% | 5.97% |
| WA original term mo | 65.8−1.4 | 61.6 mo | 68.4 mo | 67.2 mo | 65.9 mo | 70.0 mo |
| % new vehicles | 93.8% | 86.5% | 98.0% | 97.5% | 88.0% | 80.8% |
| Reserve % | 0.18% | 0.25% | 0.24% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | TX 16.5% FL 8.6% CA 8.5% | CA 16.0% TX 9.5% NY 6.7% | FL 44.5% GA 18.6% NC 16.2% | TX 13.2% FL 10.1% CA 9.1% | CA 23.8% TX 16.7% IL 3.8% | TX 14.6% FL 7.1% CA 6.3% |
| Structure (at issuance) | ||||||
| AAA spread | +43 bps+10bps | +34 bps | +31 bps | +34 bps | +33 bps | +32 bps |
| AAA % of pool | 70.7%−2.4pp | 73.1% | 69.7% | 69.0% | 73.6% | 75.6% |
| Subordination below AAA | 4.8%+1.7pp | 0.0% | 4.2% | 4.5% | 2.4% | 3.0% |
| OC (initial) | 2.00% | — | — | 3.00% | 0.85% | 2.75% |
| OC target | 2.00% | — | 0.90% | 3.00% | 0.85% | 2.75% |
| OC floor | 2.00% | — | 0.50% | 3.00% | 0.85% | 2.75% |
| YSOC | 4.56% | 4.09% | 5.47% | 5.70% | 4.78% | 2.44% |
| Tranches | 7 | 5 | 7 | 7 | 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 (202 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.
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FICO sub-band and new/used stratification.