EFCAR, LLC has formed a trust to issue asset-backed securities backed by sub-prime automobile loan contracts. The filing, dated September 28, 2026, details the formation of Exeter Select Automobile Receivables Trust 2026-2 (the “Trust”), a Delaware statutory trust.
The transaction involves the transfer of receivables from Exeter Finance LLC to EFCAR, and subsequently to the Trust. On the Closing Date, the Trust issued various classes of Asset-Backed Notes to finance the purchase of these receivables. The total aggregate original principal amount of the Notes issued was $195,000,000.
- Class A-1 Notes: $64,000,000
- Class A-2 Notes: $130,250,000
- Class A-3 Notes: $130,250,000
- Class B Notes: $33,100,000
- Class C Notes: $55,200,000
- Class D Notes: $49,000,000
- Class E Notes: $11,300,000
- Class N Notes: $32,000,000
Citibank, N.A., serves as the Indenture Trustee, and Wilmington Trust Company acts as the Owner Trustee. Exeter Finance LLC is identified as the Servicer for the receivables. The filing also lists the execution of several agreements on August 31, 2026, including a Purchase Agreement, a Sale and Servicing Agreement, and an Indenture.
