Bridgecrest Auto Funding LLC and Bridgecrest Acceptance Corporation have entered into an underwriting agreement with Wells Fargo Securities, LLC to sell asset-backed securities. The transaction involves the issuance of notes by Bridgecrest Lending Auto Securitization Trust 2026-4, a Delaware statutory trust.
The offering includes six publicly registered classes of Auto Loan Asset Backed Notes, with interest rates ranging from 4.370% for Class A-1 to 6.46% for Class D. In addition, the Issuer plans to issue Class E Auto Loan Asset Backed Notes with an interest rate of 8.38%, which are not registered under the Securities Act of 1933.
The closing of the transaction is anticipated to occur on October 22, 2026. On that date, the Issuer is set to enter into a Purchase Agreement with Bridgecrest Auto Funding LLC to transfer motor vehicle retail installment sales contracts for new and used automobiles, light-duty trucks, SUVs, and vans. The Issuer will also execute a Sale and Servicing Agreement with the Grantor Trust, appointing Bridgecrest Acceptance Corporation as the servicer and Computershare Trust Company, National Association as the indenture trustee.
Other agreements to be executed on the Closing Date include a Receivables Contribution Agreement, an Administration Agreement, and an Indenture. The Indenture will secure the Notes by granting a security interest in the receivables and related property to the Issuer and the Grantor Trust. Clayton Fixed Income Services LLC has been named as the asset representations reviewer for the transaction.
