| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 214.3 | 15.9% | 75.3% | 5.52% fxd | 0.23 | 2025-02-18 | A-1+ | F1+ |
| Class A-2A | 174.3 | 13.0% | 62.3% | 5.05% fxd | 1.09 | 2027-04-15 | AAA | AAA |
| Class A-2B | 260.0 | 19.3% | 43.0% | +34 bps SOFR | 1.09 | 2027-04-15 | AAA | AAA |
| Class A-3 | 434.3 | 32.3% | 10.7% | 4.86% fxd | 2.60 | 2029-03-15 | AAA | AAA |
| Class A-4 | 87.9 | 6.5% | 4.1% | 4.84% fxd | 3.81 | 2029-10-15 | AAA | AAA |
| Class B | 36.9 | 2.7% | 1.4% | 5.09% fxd | 3.84 | 2029-12-17 | AA | AA |
| Class C | 18.4 | 1.4% | 0.0% | 5.31% fxd | 3.84 | 2030-10-15 | A | A |
| Sponsor | World Omni Financial Corp |
|---|---|
| Servicer | World Omni Financial Corp |
| Depositor / Transferor | World Omni Financial Corp |
| Indenture Trustee | U.S. Bank Trust Company, National Association |
| Owner Trustee | Wilmington Trust, National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | Wells Fargo Securities, BofA Securities, Mizuho Securities, MUFG Securities Americas |
| WOART 2024-A | WOART 2023-D | WOART 2023-C | WOART 2023-B | WOART 2023-A | WOART 2022-D | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-02-14 | 2023-11-08 | 2023-08-16 | 2023-04-19 | 2023-02-15 | 2022-11-16 |
| Pool balance | $1,343.7MM | $1,119.4MM | $1,163.5MM | $1,162.8MM | $1,116.8MM | $1,156.7MM |
| WA Credit Score | 757+3 | 756 | 756 | 754 | 753 | 753 |
| WA APR | 6.54%+0.95pp | 6.13% | 5.86% | 5.59% | 5.59% | 4.91% |
| WA original term mo | 67.6−0.3 | 67.4 mo | 67.6 mo | 68.2 mo | 67.9 mo | 68.7 mo |
| % new vehicles | 95.6% | 95.5% | 94.8% | 93.9% | 95.8% | 93.5% |
| Reserve % | 0.23% | 0.19% | 0.19% | 0.19% | 0.38% | 0.38% |
| Geo top-3 | FL 47.9% GA 18.3% NC 15.8% | FL 44.7% GA 19.6% NC 16.6% | FL 44.9% GA 19.6% NC 16.1% | FL 50.5% GA 17.3% NC 14.9% | FL 46.0% GA 19.0% NC 16.6% | FL 34.7% GA 23.3% NC 19.6% |
| Structure (at issuance) | ||||||
| AAA spread | +34 bps−24bps | +58 bps | +41 bps | +71 bps | +43 bps | +85 bps |
| AAA % of pool | 71.2%+4.4pp | 67.6% | 66.7% | 67.1% | 66.8% | 66.0% |
| Subordination below AAA | 4.1%+0.1pp | 4.0% | 4.0% | 4.1% | 4.1% | 4.0% |
| OC (initial) | — | — | — | — | — | — |
| OC target | 1.15% | 1.15% | 1.15% | 1.15% | 0.90% | 0.90% |
| OC floor | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
| YSOC | 6.75% | 8.92% | 8.86% | 8.43% | 8.30% | 9.95% |
| 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.
| WOART 2024-A | TAOT 2024-A | MBART 2024-1 | VALET 2023-2 | FCAOT 2023-C | HART 2023-C | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-02-14 | 2024-01-30 | 2024-01-24 | 2023-11-21 | 2023-11-21 | 2023-11-13 |
| Pool balance | $1,343.7MM | $1,908.5MM | — | $1,418.8MM | $1,443.4MM | $1,822.5MM |
| WA Credit Score | 757−10 | 767 | 754 | 774 | 753 | 768 |
| WA APR | 6.54%+0.92pp | 5.37% | 7.74% | 5.69% | 4.92% | 5.62% |
| WA original term mo | 67.6+1.8 | 66.0 mo | 69.6 mo | — | 63.6 mo | 65.6 mo |
| % new vehicles | 95.6% | 84.2% | 40.3% | 73.4% | 91.2% | 94.3% |
| Reserve % | 0.23% | 0.25% | — | 0.23% | 0.23% | 0.25% |
| Geo top-3 | FL 47.9% GA 18.3% NC 15.8% | CA 23.9% TX 15.3% IL 4.6% | CA 21.6% FL 15.3% TX 14.3% | TX 14.8% CA 13.6% FL 9.6% | TX 16.0% CA 9.6% FL 8.4% | TX 12.0% FL 11.7% CA 10.9% |
| Structure (at issuance) | ||||||
| AAA spread | +34 bps−29bps | +37 bps | +66 bps | +64 bps | +55 bps | +63 bps |
| AAA % of pool | 71.2%+2.3pp | 71.3% | 42.3% | 70.8% | 68.2% | 68.9% |
| Subordination below AAA | 4.1%+2.3pp | 1.8% | 0.0% | 0.0% | 4.6% | 4.4% |
| OC (initial) | — | 0.85% | 2.50% | 3.00% | 2.00% | 3.00% |
| OC target | 1.15% | 0.85% | 2.50% | — | 2.00% | 3.00% |
| OC floor | 0.50% | 0.85% | 2.50% | — | 2.00% | 3.00% |
| YSOC | 6.75% | 6.40% | — | 9.17% | 7.07% | 6.84% |
| Tranches | 7 | 6 | 5 | 5 | 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 (143 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.
World Omni Financial Corp — ticker WOART.
Peer tier: prime.
Open in Explorer ↗ for
FICO sub-band and new/used stratification.