Bridgecrest Auto Funding LLC (BAF) and Bridgecrest Acceptance Corporation (BAC) entered into a Purchase Agreement on October 22, 2026, to transfer certain motor vehicle retail installment sales contracts to Bridgecrest Lending Auto Securitization Trust 2026-4 (the Issuer).
The transaction involves the transfer of receivables related to new and used automobiles, light-duty trucks, SUVs, and vans. Bridgecrest Lending Auto Securitization Trust 2026-4 is a Delaware statutory trust established by an Amended and Restated Trust Agreement dated October 22, 2026, with Wilmington Trust, National Association, serving as owner trustee.
On the closing date, the Issuer issued Class E Notes in the aggregate principal amount of $64,840,000 to BAF, the depositor. BAF subsequently sold these Class E Notes to Qualified Institutional Buyers pursuant to Rule 144A under the Securities Act of 1933.
The transaction structure includes the issuance of publicly registered notes, including Class A-1, Class A-2, Class A-3, Class B, Class C, and Class D Auto Loan Asset Backed Notes, as well as the Class E Notes. These notes are secured by the receivables and related property. The Publicly Registered Notes were sold to Wells Fargo Securities, LLC, BMO Capital Markets Corp., Deutsche Bank Securities Inc., and Citigroup Global Markets Inc.
Additional agreements entered into on the closing date include a Sale and Servicing Agreement, a Receivables Contribution Agreement, an Administration Agreement, and an Asset Representations Review Agreement with Clayton Fixed Income Services LLC.
