In the latest CPI print, headline fell 0.4%, the largest monthly decline since April 2020. But auto ownership costs are moving in three directions at once, and each direction hits a borrower's budget on a different clock. Gasoline is up 26.7% year over year. Motor vehicle insurance has turned deflationary, down 4.1% annually. And maintenance and repair keeps compounding at 7.0%, more than twice the 2.6% core rate, as tariff-driven parts costs feed through shops.
CCM read: The timing matters for auto credit. Fuel hits weekly cash flow immediately. Repair bills arrive randomly, and the classic subprime delinquency trigger, the surprise $1,500 repair, now costs meaningfully more than three years ago. Insurance relief may be borrowed time, since parts inflation drives tomorrow's claim severity. Auto ABS pools are geographically diversified, so trust-level delinquency will barely flinch. Loan-level ABS-EE data is where the dispersion shows up first.
Four big card issuers reported 2Q26 last week, and card credit improved everywhere. JPMorgan's card charge-off rate came in at 3.34%, full-year guidance cut to roughly 3.2%. Citi's U.S. cards losses were flat YoY on a $232M reserve release; BofA's card loss rate of 3.55% improved annually and sequentially; Wells' consumer loss rate fell to 0.74%. The commentary stayed cautious, but the books didn't: reserves flat to releasing, loss guidance cut.
CCM read: These are prime-heavy books. Trust collateral skews to seasoned vintages past the peak charge-off window. Fed card delinquency sits at 2.92%, still above pre-pandemic. Tuesday brings Synchrony (private label) and Capital One (first full Discover quarter), where the marginal borrower reports.
Heavy supply this week across auto ABS. On the prime auto-loan side, World Omni, and GM Financial. Bridgecrest 2026-3 was the lone nonprime name on an otherwise prime tape. Lease paper rounded it out, with Ford Credit Auto Lease and and Nissan. Context for the nonprime read: subprime auto stress keeps grinding, with 30+ day transitions on auto loans tracking near series highs.
Click any row to open the CCM Issuance table. SEC publicly registered transactions only — 144A and private placements excluded.
| Issuer / Series | Asset class | PSR | Close | Size ($MM) | WAL | WA FICO |
|---|---|---|---|---|---|---|
| World Omni Auto Securitization Trust 2026-ANew | Auto Loan | Jul 29 | 615.2 | 1.18 | 647 | |
| Ford Credit Auto Lease Trust 2026-BNew | Auto Lease | Jul 27 | 1,914.8 | — | 763 | |
| Toyota Auto Receivables Owners Trust 2026-CUpdated | Auto Loan | Jul 21 | 1,900.0 | 2.47 | 771 | |
| CarMax Auto Owner Trust 2026-3Updated | Auto Loan | Jul 22 | 1,350.0 | 1.17 | 765 | |
| Nissan Auto Lease Trust 2026-BNew | Auto Lease | Jul 29 | 1,090.0 | — | 760 | |
| Bridgecrest Lending Auto Securitization Trust 2026-3New | Auto Loan | — | 600.0 | — | 573 | |
| Capital One Multi-asset Execution Trust - Class A(2026-1) Card series NotesClosed | Credit Card | Jul 16 | 2,250.0 | — | 719 | |
| Capital One Multi-asset Execution Trust, Class A(2026-2) Card Series NotesClosed | Credit Card | Jul 16 | 1,600.0 | — | 719 | |
| GM Financial Consumer Automobile Receivables Trust 2026-3Closed | Auto Loan | Jul 15 | 1,015.8 | 2.39 | 781 |
A few signals from this week's loan-level tape — each links to the exact view on CCM so you can reproduce it. Explore the full data ›
Honda — 60+ DPD trend reversed — 3-mo move flipped against the prior run.
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