| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 517.2 | 24.0% | 73.5% | 5.50% fxd | — | 2025-05-19 | A-1+ | F1+ |
| Class A-2 | 678.2 | 31.4% | 42.1% | +40 bps | — | 2026-11-18 | AAA | AAA |
| Class A-3 | 778.2 | 36.0% | 6.1% | +58 bps | — | 2028-11-20 | AAA | AAA |
| Class A-4 | 131.7 | 6.1% | 0.0% | +67 bps | — | 2030-07-18 | AAA | AAA |
| Sponsor | American Honda Finance Corporation |
|---|---|
| Servicer | American Honda Finance Corporation |
| Depositor / Transferor | Honda Finance Corporation |
| Indenture Trustee | U.S. Bank Trust Company, National Association |
| Owner Trustee | Delaware trustee |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | BNP Paribas Securities, Wells Fargo Securities, Academy Securities, J.P. Morgan Securities, Loop Capital Markets, Citigroup Global Markets |
| HAROT 2024-2 | HAROT 2024-1 | HAROT 2023-4 | HAROT 2023-3 | HAROT 2023-2 | HAROT 2023-1 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-05-21 | 2024-02-21 | 2023-11-08 | 2023-08-22 | 2023-05-30 | 2023-02-24 |
| Pool balance | $2,159.3MM | $2,159.2MM | $1,889.3MM | $1,889.4MM | $1,619.5MM | $1,619.4MM |
| WA Credit Score | 769+1 | 768 | 768 | 769 | 766 | 766 |
| WA APR | 4.73%+0.73pp | 4.59% | 4.36% | 4.00% | 3.77% | 3.06% |
| WA original term mo | 63.2+0.8 | 62.2 mo | 62.3 mo | 61.6 mo | 63.2 mo | 62.6 mo |
| % new vehicles | 86.0% | 86.1% | 86.1% | 85.7% | 88.9% | 91.6% |
| Reserve % | 0.25% | 0.25% | 0.18% | 0.19% | 0.21% | 0.21% |
| Geo top-3 | CA 16.6% TX 9.9% MD 6.1% | NJ 4.9% MA 4.9% CA 4.8% | CA 19.1% TX 9.7% OH 5.4% | CA 17.3% TX 9.9% PA 7.4% | CA 18.0% TX 9.9% OH 6.3% | CA 17.6% IL 6.5% TX 6.2% |
| Structure (at issuance) | ||||||
| AAA spread | +40 bps−10bps | — | +59 bps | +46 bps | +55 bps | +35 bps |
| AAA % of pool | 73.5%−1.0pp | 73.6% | 72.9% | 75.8% | 74.6% | 75.2% |
| Subordination below AAA | 0.0%0.0pp | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| OC (initial) | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
| OC target | — | — | — | — | — | — |
| OC floor | — | — | — | — | — | — |
| YSOC | — | — | — | — | — | — |
| Tranches | 4 | 4 | 4 | 4 | 4 | 4 |
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.
| HAROT 2024-2 | TAOT 2024-B | GMCAR 2024-2 | HART 2024-A | FCAOT 2024-A | WOART 2024-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-05-21 | 2024-04-30 | 2024-04-10 | 2024-03-20 | 2024-03-19 | 2024-02-14 |
| Pool balance | $2,159.3MM | $1,876.3MM | $1,654.1MM | $1,812.8MM | $1,696.7MM | $1,343.7MM |
| WA Credit Score | 769+3 | 767 | 784 | 766 | 756 | 757 |
| WA APR | 4.73%−0.97pp | 5.70% | 5.46% | 5.70% | 4.80% | 6.54% |
| WA original term mo | 63.2−3.4 | 66.0 mo | 68.0 mo | 66.6 mo | 63.7 mo | 67.6 mo |
| % new vehicles | 86.0% | 86.7% | 87.7% | 95.8% | 92.5% | 95.6% |
| Reserve % | 0.25% | 0.25% | 0.24% | 0.25% | 0.23% | 0.23% |
| Geo top-3 | CA 16.6% TX 9.9% MD 6.1% | CA 23.9% TX 15.3% IL 4.6% | TX 14.4% FL 7.1% NY 5.3% | TX 12.9% FL 11.5% CA 6.4% | TX 16.0% CA 9.1% FL 8.6% | FL 47.9% GA 18.3% NC 15.8% |
| Structure (at issuance) | ||||||
| AAA spread | +40 bps+4bps | +35 bps | +39 bps | +42 bps | +36 bps | +34 bps |
| AAA % of pool | 73.5%+2.6pp | 71.0% | 71.5% | 69.7% | 70.4% | 71.2% |
| Subordination below AAA | 0.0%−4.1pp | 2.3% | 2.9% | 4.5% | 4.7% | 4.1% |
| OC (initial) | 2.50% | 0.85% | 1.50% | 3.00% | 2.00% | — |
| OC target | — | 0.85% | 2.00% | 3.00% | 2.00% | 1.15% |
| OC floor | — | 0.85% | 2.00% | 3.00% | 2.00% | 0.50% |
| YSOC | — | 6.73% | 5.27% | 5.15% | 5.77% | 6.75% |
| Tranches | 4 | 6 | 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.
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 (151 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.
American Honda Finance Corporation — ticker HAROT.
Peer tier: prime.
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FICO sub-band and new/used stratification.