| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 241.4 | 18.5% | 4.75% | 0.26 | 4.41% | +9 I-curve | 2026-02-17 | A-1+ | F1+ |
| Class A-2a | 309.8 | 23.7% | 4.75% | 1.11 | 4.49% | +33 I-curve | 2028-04-17 | AAA | AAA |
| Class A-2b | 110.0 | 8.4% | 4.75% | 1.11 | floating | +33 SOFR | 2028-04-17 | AAA | AAA |
| Class A-3 | 419.8 | 32.1% | 4.75% | 2.63 | 4.73% | +45 I-curve | 2030-03-15 | AAA | AAA |
| Class A-4 | 89.3 | 6.8% | 4.75% | 3.86 | 4.86% | +53 I-curve | 2030-11-15 | AAA | AAA |
| Class B | 36.8 | 2.8% | 1.75% | 3.88 | 5.08% | +75 I-curve | 2030-11-15 | AA | AA |
| Class C | 18.4 | 1.4% | 0.25% | 3.88 | 5.17% | +85 I-curve | 2031-10-15 | A | A |
Enhancement: subordinate notes, overcollateralization and reserve beneath the class, as a share of the pool net of any yield supplement (the adjusted pool, as the issuers and rating agencies measure it); the Class A notes share losses pari passu, so each carries the same figure. Spread: basis points over the benchmark named beside it, from the pricing term sheet — the interpolated curve for fixed-rate classes, 30-day average SOFR for floaters; the two are not comparable. A class marked retained was kept by the depositor, as the prospectus states.
| Sponsor | World Omni Financial Corp. |
|---|---|
| Servicer | World Omni Financial Corp. |
| Depositor / Transferor | World Omni Auto Receivables LLC |
| Indenture Trustee | U.S. Bank Trust Company, National Association |
| Owner Trustee | Wilmington Trust, National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | Barclays Capital, BofA Securities, U.S. Bancorp Investments, MUFG Securities Americas |
| WOART 2025-A | WOART 2024-C | WOART 2024-B | WOART 2024-A | WOART 2023-D | WOART 2023-C | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2025-01-29 | 2024-08-20 | 2024-05-22 | 2024-02-14 | 2023-11-08 | 2023-08-16 | 424B5 |
| Pool balance | $1,305.7MM | $1,312.6MM | $1,335.1MM | $1,343.7MM | $1,119.4MM | $1,163.5MM | 424B5 |
| WA Credit Score | 7560 | 756 | 757 | 757 | 756 | 756 | 424B5 |
| WA APR | 6.60%+0.06pp | 6.67% | 7.32% | 6.54% | 6.13% | 5.87% | 424B5 |
| WA original term mo | 68.2+0.6 | 68.1 mo | 68.3 mo | 67.6 mo | 67.4 mo | 67.6 mo | 424B5 |
| % new vehicles | 95.6% | 96.2% | 95.3% | 95.6% | 95.5% | 94.8% | 424B5 |
| Geo top-3 | FL 49.1% GA 18.2% NC 17.8% | — | FL 43.8% GA 19.9% NC 16.8% | 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% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 4.75%−0.25pp | 4.75% | 4.75% | 5.00% | 5.00% | 5.00% | calc |
| Enhancement, target | 5.65% | 5.65% | 5.65% | 5.90% | 5.90% | 5.90% | calc |
| Subordinate notes | 4.5%0.0pp | 4.5% | 4.5% | 4.5% | 4.5% | 4.5% | calc |
| OC (initial) | 0.00% | 0.00% | 0.00% | 0.25% | 0.25% | 0.25% | 424B5 |
| OC target | 0.90% | 0.90% | 0.90% | 1.15% | 1.15% | 1.15% | 424B5 |
| OC floor | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 6.15% | 7.77% | 7.70% | 8.53% | 10.50% | 10.50% | 424B5 |
| Pricing | |||||||
| AAA spread | +45 bps−22bps A-3 · 2.6y | +67 bps A-3 · 2.8y | +65 bps A-3 · 2.7y | +65 bps A-3 · 2.6y | +92 bps A-3 · 2.7y | +67 bps A-3 · 2.6y | FWP |
| Terms | |||||||
| Tranches | 7 | 7 | 7 | 7 | 7 | 7 | FWP |
Enhancement: subordinate notes, overcollateralization and the reserve account as a share of the cutoff-date pool — the losses the pool can absorb before the AAA term notes are touched. AAA spread: the pricing spread over the interpolated curve for the fixed-rate AAA class whose weighted-average life is nearest two years, with that class and its WAL shown; floating-rate classes are never used. Source: 424B5 = final prospectus, FWP = pricing term sheet, calc = derived from the above. Deltas are against the peer median; green means more protection, or a cheaper price for it, for the noteholder.
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 2025-A | TAOT 2025-A | MBART 2025-1 | GMCAR 2025-1 | VALET 2024-1 | FCAOT 2024-D | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2025-01-29 | 2025-01-29 | 2025-01-23 | 2025-01-15 | 2024-11-26 | 2024-11-22 | 424B5 |
| Pool balance | $1,305.7MM | $1,977.2MM | $1,400.0MM | $1,644.9MM | $1,749.4MM | $1,683.4MM | 424B5 |
| WA Credit Score | 756−13 | 769 | 761 | 781 | 774 | 754 | 424B5 |
| WA APR | 6.60%+0.60pp | 6.00% | 7.95% | 7.03% | 4.67% | 4.79% | 424B5 |
| WA original term mo | 68.2+2.9 | 65.7 mo | 67.5 mo | 13.0 mo | — | 64.9 mo | 424B5 |
| % new vehicles | 95.6% | 91.0% | 40.2% | 87.9% | 80.0% | 94.2% | 424B5 |
| Geo top-3 | FL 49.1% GA 18.2% NC 17.8% | CA 19.7% TX 16.6% PA 4.2% | CA 21.6% TX 16.5% NY 8.8% | TX 13.9% FL 7.0% MI 5.6% | TX 13.9% CA 10.6% FL 8.3% | TX 16.1% CA 8.6% FL 8.5% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 4.75%+0.50pp | 2.75% | 2.75% | 6.10% | 4.25% | 5.25% | calc |
| Enhancement, target | 5.65% | 3.60% | 2.75% | 6.10% | — | 7.25% | calc |
| Subordinate notes | 4.5%+2.0pp | 2.5% | 0.0% | 3.1% | 0.0% | 5.0% | calc |
| OC (initial) | 0.00% | 0.00% | 2.50% | 2.75% | 4.00% | 0.00% | 424B5 |
| OC target | 0.90% | 0.85% | 2.50% | 2.75% | — | 2.00% | 424B5 |
| OC floor | 0.50% | 0.85% | 2.50% | 2.75% | — | 2.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 6.15% | 3.90% | 4.02% | 3.13% | 10.68% | 6.20% | 424B5 |
| Pricing | |||||||
| AAA spread | +45 bps+5bps A-3 · 2.6y | +37 bps A-3 · 2.4y | +41 bps A-3 · 2.5y | +38 bps A-3 · 2.4y | — | +41 bps A-3 · 2.4y | FWP |
| Terms | |||||||
| Tranches | 7 | 6 | 5 | 7 | 5 | 7 | FWP |
Enhancement: subordinate notes, overcollateralization and the reserve account as a share of the cutoff-date pool — the losses the pool can absorb before the AAA term notes are touched. AAA spread: the pricing spread over the interpolated curve for the fixed-rate AAA class whose weighted-average life is nearest two years, with that class and its WAL shown; floating-rate classes are never used. Source: 424B5 = final prospectus, FWP = pricing term sheet, calc = derived from the above. Deltas are against the peer median; green means more protection, or a cheaper price for it, for the noteholder.
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 (170 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.
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FICO sub-band and new/used stratification.