| Payment Date | 8/15/2025 | ||||
| Collection Period Start | 7/1/2025 | ||||
| Collection Period End | 7/31/2025 | ||||
| Interest Period Start | 7/15/2025 | ||||
| Interest Period End | 8/14/2025 | ||||
| Cut-Off Date Net Pool Balance | $ | 1,116,124,822.45 | |||
| Cut-Off Date Adjusted Pool Balance | $ | 1,085,195,990.01 | |||
| Beginning Note Balance | Principal Payment | Ending Note Balance | Note Factor | Final Scheduled Payment Date | |||||||||||||
| Class A-1 Notes | $ | — | $ | — | $ | — | — | Dec-25 | |||||||||
| Class A-2a Notes | $ | 224,198,357.87 | $ | 26,260,703.14 | $ | 197,937,654.73 | 0.628773 | Oct-27 | |||||||||
| Class A-2b Notes | $ | 56,120,808.76 | $ | 6,573,517.82 | $ | 49,547,290.94 | 0.628773 | Oct-27 | |||||||||
| Class A-3 Notes | $ | 393,600,000.00 | $ | — | $ | 393,600,000.00 | 1.000000 | Jul-29 | |||||||||
| Class A-4 Notes | $ | 65,440,000.00 | $ | — | $ | 65,440,000.00 | 1.000000 | Jan-30 | |||||||||
| Class B Notes | $ | 10,850,000.00 | $ | — | $ | 10,850,000.00 | 1.000000 | Feb-30 | |||||||||
| Class C Notes | $ | 10,850,000.00 | $ | — | $ | 10,850,000.00 | 1.000000 | Apr-30 | |||||||||
| Class D Notes | $ | 10,850,000.00 | $ | — | $ | 10,850,000.00 | 1.000000 | Jan-31 | |||||||||
| Total Notes | $ | 771,909,166.63 | $ | 32,834,220.96 | $ | 739,074,945.67 | |||||||||||
| Beginning Balance | Ending Balance | Pool Factor | |||||||||||||||
| Net Pool Balance | $ | 797,084,393.16 | $ | 763,379,505.24 | 0.683955 | ||||||||||||
| YSOC Amount | $ | 22,462,236.55 | $ | 21,591,569.59 | |||||||||||||
| Adjusted Pool Balance | $ | 774,622,156.61 | $ | 741,787,935.65 | |||||||||||||
| Overcollateralization Amount (Adjusted Pool Balance - Note Balance) | $ | 2,712,989.98 | $ | 2,712,989.98 | |||||||||||||
| Reserve Account Balance | $ | 2,712,989.98 | $ | 2,712,989.98 | |||||||||||||
| Beginning Note Balance | Interest Rate | Accrual Methodology | Interest Payment | ||||||||||||||
| Class A-1 Notes | $ | — | 4.62200% | ACT/360 | $ | — | |||||||||||
| Class A-2a Notes | $ | 224,198,357.87 | 4.61000% | 30/360 | $ | 861,295.36 | |||||||||||
| Class A-2b Notes | $ | 56,120,808.76 | 4.65962% | ACT/360 | $ | 225,181.97 | |||||||||||
| Class A-3 Notes | $ | 393,600,000.00 | 4.62000% | 30/360 | $ | 1,515,360.00 | |||||||||||
| Class A-4 Notes | $ | 65,440,000.00 | 4.66000% | 30/360 | $ | 254,125.33 | |||||||||||
| Class B Notes | $ | 10,850,000.00 | 4.89000% | 30/360 | $ | 44,213.75 | |||||||||||
| Class C Notes | $ | 10,850,000.00 | 5.09000% | 30/360 | $ | 46,022.08 | |||||||||||
| Class D Notes | $ | 10,850,000.00 | 5.43000% | 30/360 | $ | 49,096.25 | |||||||||||
| Total Notes | $ | 771,909,166.63 | $ | 2,995,294.74 | |||||||||||||
| Beginning of Period | End of Period | |||||||
| Net Pool Balance | $ | 797,084,393.16 | $ | 763,379,505.24 | ||||
| Adjusted Pool Balance (Net Pool Balance - YSOC Amount) | $ | 774,622,156.61 | $ | 741,787,935.65 | ||||
| Number of Receivables Outstanding | 41,657 | 40,727 | ||||||
| Weighted Average Contract Rate | 7.57 | % | 7.57 | % | ||||
| Weighted Average Remaining Term (months) | 47.8 | 46.9 | ||||||
| Available Funds: | |||||
| a. Collections | |||||
| Interest Collections | $ | 4,971,016.76 | |||
| Principal Collections | $ | 33,304,798.87 | |||
| Liquidation Proceeds | $ | 100,822.20 | |||
| b. Repurchase Price | $ | — | |||
| c. Optional Purchase Price | $ | — | |||
| d. Reserve Account Excess Amount | $ | — | |||
| Total Available Funds | $ | 38,376,637.83 | |||
| Reserve Account Draw Amount | $ | — | |||
| Total Funds Available for Distribution | $ | 38,376,637.83 | |||
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | |||||||||||||
| Servicing Fee | $ | 664,236.99 | $ | 664,236.99 | $ | — | $ | — | $ | 37,712,400.84 | |||||||
| Interest - Class A-1 Notes | $ | — | $ | — | $ | — | $ | — | $ | 37,712,400.84 | |||||||
| Interest - Class A-2a Notes | $ | 861,295.36 | $ | 861,295.36 | $ | — | $ | — | $ | 36,851,105.48 | |||||||
| Interest - Class A-2b Notes | $ | 225,181.97 | $ | 225,181.97 | $ | — | $ | — | $ | 36,625,923.51 | |||||||
| Interest - Class A-3 Notes | $ | 1,515,360.00 | $ | 1,515,360.00 | $ | — | $ | — | $ | 35,110,563.51 | |||||||
| Interest - Class A-4 Notes | $ | 254,125.33 | $ | 254,125.33 | $ | — | $ | — | $ | 34,856,438.18 | |||||||
| First Allocation of Principal | $ | — | $ | — | $ | — | $ | — | $ | 34,856,438.18 | |||||||
| Interest - Class B Notes | $ | 44,213.75 | $ | 44,213.75 | $ | — | $ | — | $ | 34,812,224.43 | |||||||
| Second Allocation of Principal | $ | 8,421,230.98 | $ | 8,421,230.98 | $ | — | $ | — | $ | 26,390,993.45 | |||||||
| Interest - Class C Notes | $ | 46,022.08 | $ | 46,022.08 | $ | — | $ | — | $ | 26,344,971.37 | |||||||
| Third Allocation of Principal | $ | 10,850,000.00 | $ | 10,850,000.00 | $ | — | $ | — | $ | 15,494,971.37 | |||||||
| Interest - Class D Notes | $ | 49,096.25 | $ | 49,096.25 | $ | — | $ | — | $ | 15,445,875.12 | |||||||
| Fourth Allocation of Principal | $ | 10,850,000.00 | $ | 10,850,000.00 | $ | — | $ | — | $ | 4,595,875.12 | |||||||
| Reserve Account Deposit Amount | $ | — | $ | — | $ | — | $ | — | $ | 4,595,875.12 | |||||||
| Regular Principal Distribution Amount | $ | 2,712,989.98 | $ | 2,712,989.98 | $ | — | $ | — | $ | 1,882,885.14 | |||||||
| Owner Trustee, Indenture Trustee, and ARR Fees & Expenses | $ | — | $ | — | $ | — | $ | — | $ | 1,882,885.14 | |||||||
| Remaining Funds to Certificates | $ | 1,882,885.14 | $ | 1,882,885.14 | $ | — | $ | — | $ | — | |||||||
| Total | $ | 38,376,637.83 | $ | 38,376,637.83 | $ | — | $ | — | |||||||||
| Yield Supplement Overcollateralization Amount: | |||||
| Beginning Period YSOC Amount | $ | 22,462,236.55 | |||
| Increase/(Decrease) | $ | (870,666.96) | |||
| Ending YSOC Amount | $ | 21,591,569.59 | |||
| Overcollateralization: | Beginning of Period | End of Period | ||||||
| Adjusted Pool Balance | $ | 774,622,156.61 | $ | 741,787,935.65 | ||||
| Note Balance | $ | 771,909,166.63 | $ | 739,074,945.67 | ||||
| Overcollateralization (Adjusted Pool Balance - Note Balance) | $ | 2,712,989.98 | $ | 2,712,989.98 | ||||
| Target Overcollateralization Amount | $ | 2,712,989.98 | $ | 2,712,989.98 | ||||
| Overcollateralization Shortfall | $ | — | $ | — | ||||
| Specified Reserve Account Balance | $ | 2,712,989.98 | |||
| Beginning Reserve Account Balance | $ | 2,712,989.98 | |||
| Reserve Account Deposit Amount | $ | — | |||
| Reserve Account Draw Amount | $ | — | |||
| Reserve Account Excess Amount | $ | — | |||
| Ending Reserve Account Balance | $ | 2,712,989.98 | |||
| Net Loss: | % of EOP Net Pool Balance | # of Receivables | Amount | ||||||||
Defaulted Receivables during Collection Period (Principal Balance)1 | 0.05% | 34 | $ | 400,089.05 | |||||||
Liquidation Proceeds of Defaulted Receivables2 | 0.01% | 64 | $ | 100,822.20 | |||||||
| Monthly Net Losses (Liquidation Proceeds) | $ | 299,266.85 | |||||||||
| Net Losses as % of Average Pool Balance (annualized) | |||||||||||
| Third Preceding Collection Period | (0.06) | % | |||||||||
| Second Preceding Collection Period | 0.04 | % | |||||||||
| Preceding Collection Period | 0.11 | % | |||||||||
| Current Collection Period | 0.46 | % | |||||||||
| Four-Month Average Net Loss Ratio | 0.14 | % | |||||||||
| Cumulative Net Losses for All Periods | $ | 1,300,148.70 | |||||||||
| Cumulative Net Loss Ratio | 0.12 | % | |||||||||
1 The # of Receivables reported as Defaulted does not include any Receivables that have been paid off or have matured and were either paid in full or had a remaining balance of $10.00 or less following the final payment. | |||||||||||
2 Liquidation Proceeds include all proceeds on a receivable after it has been charged-off. | |||||||||||
| Delinquent Receivables: | % of EOP Net Pool Balance | # of Receivables | Principal Balance | ||||||||
| 30-59 Days Delinquent | 0.13% | 42 | $ | 976,845.61 | |||||||
| 60-89 Days Delinquent | 0.03% | 10 | $ | 232,481.64 | |||||||
| 90-119 Days Delinquent | 0.01% | 4 | $ | 69,037.07 | |||||||
| 120+ Days Delinquent | 0.00% | 0 | $ | — | |||||||
| Total Delinquent Receivables | 0.17% | 56 | $ | 1,278,364.32 | |||||||
| Repossession Inventory: | # of Receivables | Principal Balance | |||||||||
| Repossessed in the Current Collection Period | 9 | $ | 193,678.43 | ||||||||
| Total Repossessed Inventory | 11 | $ | 236,178.80 | ||||||||
| 60+ Delinquency Percentage: | # of Receivables | Amount | |||||||||
| 60+ Day Delinquent Receivables | 14 | $ | 301,518.71 | ||||||||
| 60+ Delinquencies as % of EOP Net Pool Balance | |||||||||||
| Third Preceding Collection Period | 0.03 | % | |||||||||
| Second Preceding Collection Period | 0.03 | % | |||||||||
| Preceding Collection Period | 0.03 | % | |||||||||
| Current Collection Period | 0.04 | % | |||||||||
| Delinquency Trigger | 4.50 | % | |||||||||
| Current Delinquency Percentage Exceeds Delinquency Trigger? (Yes/No) | No | ||||||||||
| Month-End Balance | # of Receivables | |||||||||||||
| ($MM) | (%) | (#) | (%) | |||||||||||
| Total Extensions | 0.66 | 0.09% | 28 | 0.07% | ||||||||||