Auto ABS Credit Performance
Credit Performance
How the loans inside auto securitizations are paying — 60+ day delinquency and net losses by issuer and credit tier, read every month from the trusts' SEC servicer reports.
Subprime 60+ day delinquency
4.94%
Sep 2026 · 4 trusts
Prime 60+ day delinquency
0.23%
Sep 2026 · 4 trusts
Subprime annualized net loss
8.67%
Sep 2026
Trusts reporting
33
SEC-registered auto loan ABS
60+ day delinquency by tier
Share of pool balance 60+ days past due, balance-weighted across trusts in each tier.
PrimeNear-primeSubprime
| Month | Prime | Near-prime | Subprime |
|---|---|---|---|
| Sep 2026 | 0.23%(4) | 2.05%(3) | 4.94%(4) |
| Aug 2026 | 0.23%(19) | 2.32%(4) | 3.91%(8) |
| Jul 2026 | 0.19%(17) | 1.59%(4) | 3.58%(7) |
| Jun 2026 | 0.20%(14) | 1.52%(3) | 3.26%(6) |
| May 2026 | 0.16%(13) | 1.78%(2) | 2.93%(5) |
| Apr 2026 | 0.15%(10) | 2.11%(1) | 1.87%(5) |
| Mar 2026 | 0.16%(7) | 1.04%(1) | 1.25%(4) |
| Feb 2026 | 0.11%(6) | 0.02%(1) | 0.51%(3) |
| Jan 2026 | 0.07%(3) | — | 0.04%(2) |
Covers 2026 trusts only for now, so tier levels rise as these pools season; compare trusts at the same age with the curves below.
Cumulative net loss by months since close
Each line is one trust: cumulative net losses as a share of its original pool. Comparing lines at the same month shows which deals are performing better or worse than peers.
PrimeNear-primeSubprime
Latest by trust
Most recent servicer report for each trust, sorted by 60+ day delinquency. Months = months since the deal closed.
| Trust | Tier | Months | Pool | 60+ DQ | Ann. net loss | Cum. net loss |
|---|---|---|---|---|---|---|
| Exeter | Subprime | 7 | $935M | 6.14% | 9.43% | 2.91% |
| Bridgecrest | Subprime | 5 | $671M | 6.14% | 11.05% | 2.77% |
| Exeter | Subprime | 5 | $676M | 6.07% | 11.42% | 2.13% |
| Santander Consumer | Subprime | 7 | $1495M | 5.75% | 9.12% | 2.23% |
| Bridgecrest | Subprime | 8 | $619M | 4.70% | 9.59% | 4.81% |
| Exeter | Subprime | 2 | $1283M | 3.95% | 1.58% | 0.16% |
| CarMax | Near-prime | 7 | $591M | 3.56% | 4.81% | 1.83% |
| Exeter | Near-prime | 3 | $339M | 3.09% | 6.81% | 0.65% |
| Bridgecrest | Subprime | 2 | $820M | 2.68% | 5.21% | 0.68% |
| CarMax | Near-prime | 3 | $557M | 2.58% | 3.65% | 0.33% |
| World Omni | Near-prime | 1 | $655M | 0.97% | 0.22% | — |
| World Omni | Prime | 6 | $925M | 0.53% | 0.60% | — |
| CarMax | Prime | 8 | $912M | 0.45% | 0.92% | 0.25% |
| World Omni | Prime | 3 | $1104M | 0.45% | 1.19% | — |
| Ally | Prime | 5 | $820M | 0.43% | 0.49% | 0.12% |
| CarMax | Prime | 5 | $973M | 0.36% | 0.68% | 0.13% |
| CarMax | Prime | 2 | $1201M | 0.31% | 0.12% | 0.01% |
| Toyota | Prime | 7 | $1438M | 0.29% | 0.49% | 0.21% |
| Toyota | Prime | 4 | $1608M | 0.26% | 0.40% | 0.11% |
| GM Financial | Prime | 7 | $987M | 0.25% | 0.20% | 0.19% |
| Hyundai | Prime | 6 | $1874M | 0.24% | 0.80% | 0.28% |
| Toyota | Prime | 1 | $1827M | 0.21% | 0.14% | 0.01% |
| World Omni | Prime | 0 | $956M | 0.20% | 0.04% | — |
| Honda | Prime | 6 | $1819M | 0.19% | 0.25% | 0.09% |
| Hyundai | Prime | 2 | $2142M | 0.19% | 0.84% | 0.10% |
| Honda | Prime | 3 | $1778M | 0.16% | 0.39% | 0.05% |
| GM Financial | Prime | 4 | $1104M | 0.13% | 0.62% | 0.13% |
| Honda | Prime | 0 | $2008M | 0.10% | 0.03% | 0.00% |
| CarMax | Near-prime | 0 | $604M | 0.09% | 0.06% | 0.01% |
| GM Financial | Prime | 1 | $979M | 0.08% | 0.15% | 0.01% |
| Nissan | Prime | 3 | $1222M | 0.04% | 0.43% | 0.08% |
| Exeter | Subprime | 0 | $1095M | 0.01% | 0.07% | 0.01% |
| Capital One | Prime | 0 | $1934M | 0.00% | 0.08% | 0.01% |
Method: figures come from each trust's monthly servicer report (SEC Form 10-D, Exhibit 99) for SEC-registered auto loan trusts in our Securitizations Tracker; lease trusts and private 144A deals aren't included.
Every dollar figure is checked against the filing before it is used; reports that don't reconcile are held back.
60+ DQ = all delinquency buckets 60 or 61 days and older, as a share of the ending pool balance.
Annualized net loss = net losses for the month divided by the beginning pool balance, times 12.
Cumulative net loss = net losses since the cutoff date as a share of the original pool balance.
Tier is AutoFinance Pulse's classification of each issuer's shelf. Servicers define buckets slightly differently, so small differences between issuers aren't meaningful. This is reference data, not investment research.