Presale Report  ·  Data as of 2024-05-22

Harley-Davidson Motorcycle Trust 2024-A Auto Loan prime FINAL · CLOSED 2024-05-22

Notes
$578.9MM
Pool
$607.8MM
Reserve
0.25%
OC
4.7%
Sponsor: Harley-Davidson Credit Corp  ·  Servicer: Harley-Davidson Credit Corp  ·  Trustee: to the indenture trustee

Capital Structure

ClassSize ($MM)% of PoolSub %CPN / SpreadWALLegal FinalMoody'sFitch
Class A-189.014.6%80.6%5.54% fxd0.232025-05-15P-1F1+
Class A-2192.231.6%49.0%5.65% fxd0.932027-02-15AaaAAA
Class A-3242.239.8%9.2%5.37% fxd2.292029-03-15AaaAAA
Class A-455.69.2%0.0%5.29% fxd3.512031-12-15AaaAAA

Transaction Parties

SponsorHarley-Davidson Credit Corp
ServicerHarley-Davidson Credit Corp
Depositor / Transferorc/o Harley-Davidson Credit Corp
Indenture Trusteeto the indenture trustee
Owner TrusteeWilmington Trust, National Association
Asset Rep. Reviewerto the asset representations reviewer
UnderwritersWells Fargo Securities, BMO Capital Markets, Lloyds Securities, TD Securities, CastleOak Securities, Mizuho Securities

Issuer Track Record

HDMT 2024-AHDMT 2023-BHDMT 2023-AHDMT 2022-AHDMT 2021-BHDMT 2021-A
Collateral (pool at cut-off)
Closing date2024-05-222023-09-272023-02-232022-04-202021-08-182021-02-18
Pool balance$607.8MM$580.2MM$628.5MM$607.8MM$635.5MM$663.1MM
WA Credit Score758+2758758756754756
WA APR9.43%+1.12pp8.91%7.51%7.22%8.31%8.56%
WA original term mo70.0−1.070.0 mo71.0 mo71.0 mo71.0 mo72.0 mo
% new vehicles70.5%63.9%61.3%64.0%73.9%68.7%
Reserve %0.25%0.25%0.25%0.25%
Geo top-3TX 11.3%
CA 9.9%
FL 8.6%
TX 10.7%
CA 9.8%
FL 7.5%
CA 10.3%
TX 9.3%
FL 6.8%
TX 11.1%
CA 10.5%
FL 9.5%
CA 10.7%
TX 10.1%
FL 7.7%
TX 10.1%
CA 9.8%
FL 7.2%
Structure (at issuance)
AAA spread+53 bps+62 bps
AAA % of pool80.6%+0.7pp75.0%76.0%79.9%83.4%82.9%
Subordination below AAA0.0%0.0pp0.0%0.0%0.0%0.0%0.0%
OC (initial)4.75%9.28%7.88%4.75%4.75%4.75%
OC target4.75%4.75%4.75%4.75%4.75%4.75%
OC floor4.75%4.75%4.75%4.75%4.75%4.75%
YSOCn.a.n.a.n.a.n.a.n.a.n.a.
Tranches445544

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.

Peer Set

HDMT 2024-AWOART 2024-BNAROT 2024-AHAROT 2024-2TAOT 2024-BCAOT 2024-2
Collateral (pool at cut-off)
Closing date2024-05-222024-05-222024-05-222024-05-212024-04-302024-04-24
Pool balance$607.8MM$1,335.1MM$1,424.1MM$2,159.3MM$1,876.3MM$1,612.1MM
WA Credit Score758−9757780769767721
WA APR9.43%+3.73pp7.32%4.85%4.73%5.70%11.01%
WA original term mo70.0+4.168.3 mo63.2 mo66.0 mo65.8 mo
% new vehicles70.5%95.3%10.5%86.0%86.7%0.0%
Reserve %0.25%0.23%0.25%0.25%0.25%0.75%
Geo top-3TX 11.3%
CA 9.9%
FL 8.6%
FL 43.8%
GA 19.9%
NC 16.8%
TX 17.8%
FL 9.5%
CA 6.6%
CA 16.6%
TX 9.9%
MD 6.1%
CA 23.9%
TX 15.3%
IL 4.6%
CA 16.2%
TX 11.1%
FL 8.2%
Structure (at issuance)
AAA spread+43 bps+38 bps+40 bps+35 bps+58 bps
AAA % of pool80.6%+9.7pp70.9%68.2%73.5%71.0%71.9%
Subordination below AAA0.0%−2.3pp4.2%0.0%0.0%2.3%8.2%
OC (initial)4.75%4.00%2.50%0.85%0.75%
OC target4.75%0.90%4.00%0.85%0.75%
OC floor4.75%0.50%4.00%0.85%0.75%
YSOCn.a.6.11%8.57%6.73%n.a.
Tranches475468

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.

Historical Performance Context

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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