Credit standards · Auto loan credit standards
DRIVE AUTO RECEIVABLES TRUST
Summary statistics computed from the Form ABS-EE asset-level file for this shelf, filed 2026-06-15. Regulation AB II requires this loan-level data for registered public auto-loan securitizations, so every figure below is a statement about a named, dated SEC filing — not about a company.
1,312 loans analysed, sampled systematically (every 20th record) from 26,248 records. CIK 1890433. Source filing.
Distributions
| Measure | 5th | 25th | Median | 75th | 95th |
|---|---|---|---|---|---|
| Credit score | 488 | 538 | 573 | 606 | 653 |
| APR | 13.2% | 16.6% | 18.9% | 21.8% | 25.4% |
| Payment-to-income | 5.3% | 9.0% | 12.2% | 15.3% | 18.1% |
| Term (months) | 60 | 72 | 72 | 72 | 75 |
| Loan-to-value | 84.5% | 102.2% | 113.3% | 123.1% | 137.3% |
| Vehicle model year | 2014 | 2016 | 2018 | 2019 | 2021 |
LTV is not comparable across shelves for this filing: the vehicle value source is filer-specific (codes 98, 1, 3), and the code meanings are not asserted here.
By credit score band
| Band | Range | Loans | Share | Median APR |
|---|---|---|---|---|
| deep subprime | 300-500 | 84 | 6.4% | 20.6% |
| subprime | 501-600 | 733 | 55.9% | 19.4% |
| near prime | 601-660 | 289 | 22.0% | 17.5% |
| prime | 661-780 | 37 | 2.8% | 17.3% |
| super prime | 781-900 | 1 | 0.1% | 16.4% |
Pool composition
- Originators: SC (1,312)
- Used vehicles: 87.6%
- Co-obligor present: 26.4%
- Zero-APR loans: 0.0%
- States present: 49
- Top states: TX (228), FL (140), CA (88), OH (87), GA (82), PA (70), NC (49), TN (38)
What this is not
Not underwriting guidelines. Not a comparison of lenders. Not a description of any lender's programs or current practices. Each row describes one securitized pool, as reported in one filing, on one date - a sponsor-selected subset of what an originator funded. Issuers securitizing privately under Rule 144A file no asset-level data and are absent by construction.
Income and employment verification appear in the file only as raw Schedule AL codes (2, 3 and 2, 1, 3). Their meanings are not asserted here — the filer's codebook is the only authority for what a code means, and this shelf published 42 codebook fields.
underwritingIndicator is recorded upstream but omitted here: filers apply it inconsistently and it cannot be read as an exception rate. Verification codes are raw and are not comparable across filers. LTV carries a per-shelf comparability flag.
Method: how these figures are computed. Data generated 2026-08-25 from the filing above.