| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 520.0 | 24.1% | 73.4% | +10 bps | 0.24 | 2025-10-15 | A-1+ | P-1 |
| Class A-2 | 682.3 | 31.6% | 41.8% | +45 bps | 0.98 | 2027-03-15 | AAA | Aaa |
| Class A-3 | 797.7 | 36.9% | 4.9% | +48 bps | 2.27 | 2029-05-15 | AAA | Aaa |
| Class A-4 | 105.3 | 4.9% | 0.0% | +56 bps | 3.23 | 2030-12-16 | 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 | The Bank of New York Mellon Trust Company, N.A |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | BofA Securities, BNP Paribas Securities, Deutsche Bank Securities, TD Securities, BNY Mellon Capital Markets, MUFG Securities Americas |
| HAROT 2024-4 | HAROT 2024-3 | HAROT 2024-2 | HAROT 2024-1 | HAROT 2023-4 | HAROT 2023-3 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-10-24 | 2024-08-21 | 2024-05-21 | 2024-02-21 | 2023-11-08 | 2023-08-22 |
| Pool balance | $2,159.2MM | $2,159.2MM | $2,159.3MM | $2,159.2MM | $1,889.3MM | $1,889.4MM |
| WA Credit Score | 7680 | 768 | 769 | 768 | 768 | 769 |
| WA APR | 4.88%+0.29pp | 4.72% | 4.73% | 4.59% | 4.36% | 4.00% |
| WA original term mo | 61.2−1.0 | 61.3 mo | 63.2 mo | 62.2 mo | 62.3 mo | 61.6 mo |
| % new vehicles | 86.2% | 85.3% | 86.0% | 86.1% | 86.1% | 85.7% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.18% | 0.19% |
| Geo top-3 | CA 17.5% TX 9.9% FL 6.9% | CA 16.2% TX 9.7% NY 6.7% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | +45 bps−2bps | +48 bps | +40 bps | — | +59 bps | +46 bps |
| AAA % of pool | 73.4%−0.1pp | 72.4% | 73.5% | 73.6% | 72.9% | 75.8% |
| 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% |
| OC target | — | — | — | — | — | — |
| OC floor | — | — | — | — | — | — |
| YSOC | 5.38% | — | — | — | — | — |
| 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 2024-4 | NAROT 2024-B | TAOT 2024-D | HART 2024-C | GMCAR 2024-4 | FCAOT 2024-C | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-10-24 | 2024-10-23 | 2024-10-17 | 2024-10-16 | 2024-10-16 | 2024-09-20 |
| Pool balance | $2,159.2MM | $1,397.8MM | $1,841.9MM | $1,859.5MM | $1,346.6MM | $1,688.8MM |
| WA Credit Score | 768−2 | 783 | 770 | 769 | 782 | 756 |
| WA APR | 4.88%−0.95pp | 4.62% | 5.96% | 5.97% | 5.83% | 4.74% |
| WA original term mo | 61.2−5.5 | — | 65.4 mo | 68.0 mo | 69.0 mo | 64.8 mo |
| % new vehicles | 86.2% | 10.0% | 90.0% | 96.7% | 87.7% | 93.9% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.24% | 0.23% |
| Geo top-3 | CA 17.5% TX 9.9% FL 6.9% | TX 17.1% FL 8.8% CA 6.2% | TX 17.3% CA 15.6% PA 4.5% | TX 12.7% FL 10.6% CA 8.9% | TX 15.3% FL 7.2% MI 5.3% | TX 16.1% FL 8.6% CA 8.4% |
| Structure (at issuance) | ||||||
| AAA spread | +45 bps+5bps | +38 bps | +39 bps | +40 bps | +40 bps | +40 bps |
| AAA % of pool | 73.4%+3.6pp | 67.6% | 73.7% | 69.8% | 72.8% | 69.3% |
| Subordination below AAA | 0.0%−2.4pp | 0.0% | 2.4% | 4.6% | 1.6% | 4.7% |
| OC (initial) | — | 4.00% | 0.85% | 3.00% | 1.50% | 2.00% |
| OC target | — | 4.00% | 0.85% | 3.00% | 2.00% | 2.00% |
| OC floor | — | 4.00% | 0.85% | 3.00% | 2.00% | 2.00% |
| YSOC | 5.38% | 6.85% | 4.99% | 4.98% | 3.04% | 6.50% |
| Tranches | 4 | 5 | 6 | 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 (162 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.
Open in Explorer ↗ for
FICO sub-band and new/used stratification.