| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 130.0 | 15.6% | 75.2% | — | 0.20 | 2026-10-15 | A-1+ | F1+ |
| Class A-2a | 285.5 | 34.2% | 41.0% | +60 bps | 1.35 | 2030-05-15 | AAA | AAA |
| Class A-2b | 90.0 | 10.8% | 30.3% | +60 bps SOFR | 1.35 | 2030-05-15 | AAA | AAA |
| Class A-3 | 160.9 | 19.3% | 11.0% | +64 bps | 2.98 | 2031-08-15 | AAA | AAA |
| Class B | 47.2 | 5.6% | 5.3% | — | 3.78 | 2031-10-15 | AA | AA |
| Class C | 44.7 | 5.3% | 0.0% | — | 3.81 | 2033-03-15 | NR | — |
| 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, Barclays Capital, MUFG Securities Americas |
| WOSAT 2025-A | WOSAT 2024-A | WOSAT 2023-A | WOSAT 2021-A | |
|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||
| Closing date | 2025-09-24 | 2024-07-24 | 2023-03-15 | 2021-09-22 |
| Pool balance | $835.7MM | $797.9MM | $931.8MM | $1,061.1MM |
| WA Credit Score | 650−1 | 655 | 651 | 647 |
| WA APR | 10.75%+1.56pp | 10.80% | 9.19% | 8.26% |
| WA original term mo | 74.5+0.1 | 74.5 mo | 74.5 mo | 74.5 mo |
| % new vehicles | 94.0% | 90.7% | 84.4% | 86.2% |
| Reserve % | 0.50% | 0.50% | 0.50% | 0.40% |
| Geo top-3 | FL 57.3% GA 18.5% AL 10.0% | FL 54.1% GA 19.9% AL 10.6% | — | FL 53.1% GA 20.6% NC 9.8% |
| Structure (at issuance) | ||||
| AAA spread | +60 bps−2bps | +62 bps | +85 bps | +14 bps |
| AAA % of pool | 64.2%+4.6pp | 59.6% | 54.9% | 59.9% |
| Subordination below AAA | 11.0%−8.0pp | 20.5% | 19.0% | 18.0% |
| OC (initial) | 9.25% | 3.00% | 6.35% | 5.00% |
| OC target | 11.75% | 6.00% | 8.35% | 10.00% |
| OC floor | 1.00% | 1.00% | 2.00% | 2.00% |
| YSOC | — | — | — | — |
| Tranches | 6 | 8 | 8 | 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.
| WOSAT 2025-A | CRVNA 2025-P3 | EARTS 2025-2 | CAOT 2024-1 | |
|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||
| Closing date | 2025-09-24 | 2025-09-23 | 2025-07-30 | 2024-01-24 |
| Pool balance | $835.7MM | $1,011.7MM | $378.0MM | $1,565.7MM |
| WA Credit Score | 650−52 | 702 | 669 | 719 |
| WA APR | 10.75%−1.36pp | 12.11% | 15.82% | 10.90% |
| WA original term mo | 74.5+1.5 | 73.0 mo | 77.0 mo | 65.4 mo |
| % new vehicles | 94.0% | — | — | 0.0% |
| Reserve % | 0.50% | 0.20% | 1.00% | 1.00% |
| Geo top-3 | FL 57.3% GA 18.5% AL 10.0% | TX 10.4% CA 7.7% FL 5.7% | TX 21.3% FL 9.1% CA 8.8% | CA 16.4% TX 11.3% FL 8.1% |
| Structure (at issuance) | ||||
| AAA spread | +60 bps+4bps | +50 bps | — | +62 bps |
| AAA % of pool | 64.2%−9.2pp | 79.5% | 54.3% | 73.4% |
| Subordination below AAA | 11.0%−1.3pp | 12.3% | 30.7% | 8.0% |
| OC (initial) | 9.25% | 0.00% | 2.60% | 1.00% |
| OC target | 11.75% | 0.20% | 6.40% | 1.00% |
| OC floor | 1.00% | 0.20% | 1.50% | 1.00% |
| YSOC | — | n.a. | n.a. | n.a. |
| Tranches | 6 | 8 | 7 | 8 |
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 (35 series across 3 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 WOSAT.
Peer tier: near-prime.
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FICO sub-band and new/used stratification.