| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 448.0 | 20.5% | 71.9% | 4.46% fxd | 0.27 | 2026-06-15 | A-1+ | F1+ |
| Class A-2A | 436.8 | 20.0% | 52.0% | 4.45% fxd | 1.06 | 2028-08-15 | AAA | AAA |
| Class A-2B | 250.0 | 11.4% | 40.6% | +38 bps SOFR | — | 2028-08-15 | — | — |
| Class A-3 | 653.2 | 29.9% | 10.7% | 4.36% fxd | 2.28 | 2029-12-17 | AAA | AAA |
| Class A-4 | 134.7 | 6.2% | 4.6% | 4.44% fxd | 3.36 | 2030-06-17 | AAA | AAA |
| Class B | 37.3 | 1.7% | 2.8% | 4.72% fxd | 3.73 | 2030-07-15 | AA+ | AA+ |
| Class C | 62.2 | 2.8% | 0.0% | 4.92% fxd | 3.92 | 2032-07-15 | AA | A+ |
| Sponsor | Hyundai Capital America |
|---|---|
| Servicer | Hyundai Capital America |
| Depositor / Transferor | Hyundai Capital America |
| Indenture Trustee | Citibank, N.A |
| Owner Trustee | U.S. Bank Trust National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | J.P. Morgan Securities, Lloyds Securities, RBC Capital Markets, TD Securities, Mizuho Securities, U.S. Bancorp Investments |
| HART 2025-B | HART 2025-A | HART 2024-C | HART 2024-B | HART 2024-A | HART 2023-C | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-06-11 | 2025-03-12 | 2024-10-16 | 2024-07-24 | 2024-03-20 | 2023-11-13 |
| Pool balance | $2,188.2MM | $2,188.3MM | $1,859.5MM | $1,925.2MM | $1,812.8MM | $1,822.5MM |
| WA Credit Score | 770+2 | 769 | 769 | 768 | 766 | 768 |
| WA APR | 5.95%+0.25pp | 5.57% | 5.97% | 5.98% | 5.70% | 5.62% |
| WA original term mo | 67.5+0.2 | 67.9 mo | 68.0 mo | 67.3 mo | 66.6 mo | 65.6 mo |
| % new vehicles | 97.5% | 96.6% | 96.7% | 96.5% | 95.8% | 94.3% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 14.3% TX 11.9% FL 9.3% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | — | +34 bps | +40 bps | +37 bps | +42 bps | +63 bps |
| AAA % of pool | 56.0%−13.7pp | 67.4% | 69.8% | 70.5% | 69.7% | 68.9% |
| Subordination below AAA | 4.6%+0.1pp | 4.5% | 4.6% | 4.5% | 4.5% | 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 | 5.22% | 6.01% | 4.98% | 6.43% | 5.15% | 6.84% |
| 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-B | NAROT 2025-A | WOART 2025-B | GMCAR 2025-2 | HAROT 2025-2 | TAOT 2025-B | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-06-11 | 2025-05-27 | 2025-05-14 | 2025-05-14 | 2025-05-08 | 2025-04-30 |
| Pool balance | $2,188.2MM | $1,668.5MM | $1,281.8MM | $984.2MM | $2,483.1MM | $1,988.8MM |
| WA Credit Score | 770+1 | 789 | 756 | 782 | 769 | 769 |
| WA APR | 5.95%+0.13pp | 4.46% | 6.49% | 5.82% | 4.89% | 6.05% |
| WA original term mo | 67.5+0.6 | — | 67.9 mo | 69.0 mo | 62.1 mo | 65.7 mo |
| % new vehicles | 97.5% | 6.9% | 96.4% | 87.9% | 86.1% | 88.0% |
| Reserve % | 0.25% | 0.25% | 0.24% | 0.24% | 0.25% | 0.25% |
| Geo top-3 | CA 14.3% TX 11.9% FL 9.3% | TX 14.8% FL 7.3% CA 6.7% | FL 47.7% GA 18.7% NC 15.4% | TX 12.2% FL 7.7% NY 6.2% | CA 16.9% TX 9.9% FL 6.2% | CA 20.9% TX 16.8% IL 4.0% |
| Structure (at issuance) | ||||||
| AAA spread | — | +45 bps | +47 bps | +45 bps | +48 bps | +54 bps |
| AAA % of pool | 56.0%−15.8pp | 68.0% | 70.1% | 73.0% | 72.8% | 71.7% |
| Subordination below AAA | 4.6%+2.2pp | 1.4% | 4.3% | 3.0% | 0.0% | 2.4% |
| OC (initial) | 3.00% | 2.50% | — | 2.75% | — | 0.85% |
| OC target | 3.00% | 2.50% | 0.90% | 2.75% | — | 0.85% |
| OC floor | 3.00% | 2.50% | 0.50% | 2.75% | — | 0.85% |
| YSOC | 5.22% | 7.79% | 5.38% | 2.86% | 5.43% | 4.46% |
| Tranches | 7 | 6 | 7 | 7 | 5 | 6 |
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 (184 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.