| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 432.7 | 19.8% | 71.9% | +15 bps | 0.25 | — | A-1+ | F1+ |
| Class A-2-B | 343.8 | 15.7% | 56.2% | +34 bps | 1.00 | — | AAA | AAA |
| Class A-2a | 343.8 | 15.7% | 40.4% | +34 bps | 1.00 | — | AAA | AAA |
| Class A-3 | 687.6 | 31.4% | 9.0% | +42 bps | 2.27 | — | AAA | AAA |
| Class A-4 | 98.5 | 4.5% | 4.5% | +50 bps | 3.39 | — | AAA | AAA |
| Class B | 37.0 | 1.7% | 2.8% | +70 bps | 3.70 | — | AA+ | AA+ |
| Class C | 61.7 | 2.8% | 0.0% | +85 bps | 3.91 | — | AA | A+ |
| Sponsor | Hyundai Capital America |
|---|---|
| Servicer | Hyundai Capital America |
| Depositor / Transferor | Capital America |
| Indenture Trustee | Citibank, N.A |
| Owner Trustee | U.S. Bank Trust National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | Barclays Capital, TD Securities, Citigroup Global Markets, Mizuho Securities, SMBC Nikko Securities, HSBC Securities |
| HART 2025-A | HART 2024-C | HART 2024-B | HART 2024-A | HART 2023-C | HART 2023-B | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-03-12 | 2024-10-16 | 2024-07-24 | 2024-03-20 | 2023-11-13 | 2023-07-19 |
| Pool balance | $2,188.3MM | $1,859.5MM | $1,925.2MM | $1,812.8MM | $1,822.5MM | $1,865.3MM |
| WA Credit Score | 769+1 | 769 | 768 | 766 | 768 | 767 |
| WA APR | 5.57%−0.13pp | 5.97% | 5.98% | 5.70% | 5.62% | 4.96% |
| WA original term mo | 67.9+1.3 | 68.0 mo | 67.3 mo | 66.6 mo | 65.6 mo | 66.2 mo |
| % new vehicles | 96.6% | 96.7% | 96.5% | 95.8% | 94.3% | 94.0% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 12.9% TX 12.5% FL 9.5% | TX 12.7% FL 10.6% CA 8.9% | TX 12.4% CA 12.2% FL 10.4% | TX 12.9% FL 11.5% CA 6.4% | TX 12.0% FL 11.7% CA 10.9% | CA 12.5% TX 12.4% FL 11.3% |
| Structure (at issuance) | ||||||
| AAA spread | +34 bps−7bps | +40 bps | +37 bps | +42 bps | +63 bps | — |
| AAA % of pool | 67.4%−2.3pp | 69.8% | 70.5% | 69.7% | 68.9% | 58.9% |
| Subordination below AAA | 4.5%+0.0pp | 4.6% | 4.5% | 4.5% | 4.4% | 4.4% |
| OC (initial) | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
| OC target | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
| OC floor | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% |
| YSOC | 6.01% | 4.98% | 6.43% | 5.15% | 6.84% | 9.04% |
| 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.
| HART 2025-A | BMWOT 2025-A | HAROT 2025-1 | TAOT 2025-A | WOART 2025-A | MBART 2025-1 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-03-12 | 2025-02-12 | 2025-02-11 | 2025-01-29 | 2025-01-29 | 2025-01-23 |
| Pool balance | $2,188.3MM | $1,897.4MM | $2,429.2MM | $1,977.2MM | $1,305.7MM | — |
| WA Credit Score | 769+1 | 784 | 768 | 769 | 756 | 761 |
| WA APR | 5.57%−0.44pp | 3.35% | 4.96% | 6.01% | 6.61% | 7.96% |
| WA original term mo | 67.9+2.2 | 65.1 mo | 61.7 mo | 65.7 mo | 68.2 mo | 67.5 mo |
| % new vehicles | 96.6% | 70.5% | 86.2% | 91.0% | 95.6% | 40.2% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.23% | — |
| Geo top-3 | 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% | FL 49.1% GA 18.2% NC 17.8% | CA 21.6% TX 16.5% NY 8.8% |
| Structure (at issuance) | ||||||
| AAA spread | +34 bps+1bps | +30 bps | +40 bps | +33 bps | +33 bps | +32 bps |
| AAA % of pool | 67.4%−5.4pp | 73.8% | 72.8% | — | 71.1% | — |
| Subordination below AAA | 4.5%+4.5pp | 0.0% | 0.0% | — | 4.2% | — |
| OC (initial) | 3.00% | 2.50% | — | 0.85% | — | 2.50% |
| OC target | 3.00% | 2.50% | — | 0.85% | 0.90% | 2.50% |
| OC floor | 3.00% | 2.50% | — | 0.85% | 0.50% | 2.50% |
| YSOC | 6.01% | 5.40% | 5.71% | 3.90% | 4.86% | — |
| Tranches | 7 | 5 | 4 | 6 | 7 | 5 |
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 (178 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.
Hyundai Capital America — ticker HART.
Peer tier: prime.
Open in Explorer ↗ for
FICO sub-band and new/used stratification.