| Schedule of Securitization Debt of Consolidated VIEs |
The securitization debt issued is included in "Long-term debt" on the condensed consolidated balance sheet. The securitization debt of consolidated VIEs consisted of the following (in thousands):
|
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|
|
|
|
|
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|
|
As of March 31, 2026 |
|
Series |
|
Final Scheduled Payment Date |
|
Initial Principal |
|
|
Contractual Interest Rate |
|
Outstanding Principal |
|
|
Fair Value |
|
United Auto Credit 2022-2-D |
|
January 10, 2028 |
|
$ |
32,889 |
|
|
6.84 |
% |
$ |
6,793 |
|
|
$ |
6,804 |
|
United Auto Credit 2022-2-E |
|
April 10, 2029 |
|
|
33,440 |
|
|
10.00 |
% |
|
28,440 |
|
|
|
13,350 |
|
United Auto Credit 2023-1-D |
|
July 10, 2028 |
|
|
35,653 |
|
|
8.00 |
% |
|
12,743 |
|
|
|
12,860 |
|
United Auto Credit 2023-1-E |
|
September 10, 2029 |
|
|
23,256 |
|
|
10.98 |
% |
|
23,256 |
|
|
|
24,421 |
|
United Auto Credit 2024-1-C |
|
October 10, 2029 |
|
|
35,190 |
|
|
7.06 |
% |
|
6,697 |
|
|
|
6,701 |
|
United Auto Credit 2024-1-D |
|
November 12, 2029 |
|
|
52,160 |
|
|
8.30 |
% |
|
52,160 |
|
|
|
52,849 |
|
United Auto Credit 2024-1-E |
|
November 12, 2030 |
|
|
37,540 |
|
|
10.45 |
% |
|
37,540 |
|
|
|
39,278 |
|
United Auto Credit 2025-1-A |
|
June 10, 2027 |
|
|
138,300 |
|
|
4.80 |
% |
|
9,062 |
|
|
|
9,063 |
|
United Auto Credit 2025-1-B |
|
February 10, 2028 |
|
|
50,450 |
|
|
5.05 |
% |
|
50,450 |
|
|
|
50,516 |
|
United Auto Credit 2025-1-C |
|
June 10, 2030 |
|
|
32,660 |
|
|
5.15 |
% |
|
32,660 |
|
|
|
32,716 |
|
United Auto Credit 2025-1-D |
|
July 10, 2030 |
|
|
50,810 |
|
|
5.96 |
% |
|
50,810 |
|
|
|
51,013 |
|
United Auto Credit 2025-1-E |
|
October 10, 2031 |
|
|
35,560 |
|
|
7.71 |
% |
|
35,560 |
|
|
|
35,613 |
|
United Auto Credit 2026-1-A |
|
June 12, 2028 |
|
|
100,350 |
|
|
4.41 |
% |
|
91,681 |
|
|
|
91,653 |
|
United Auto Credit 2026-1-B |
|
May 10, 2029 |
|
|
40,130 |
|
|
4.63 |
% |
|
40,130 |
|
|
|
40,034 |
|
United Auto Credit 2026-1-C |
|
June 10, 2031 |
|
|
25,970 |
|
|
5.06 |
% |
|
25,970 |
|
|
|
25,869 |
|
United Auto Credit 2026-1-D |
|
July 10, 2031 |
|
|
40,000 |
|
|
5.65 |
% |
|
40,000 |
|
|
|
39,820 |
|
United Auto Credit 2026-1-E |
|
December 10, 2032 |
|
|
18,550 |
|
|
7.77 |
% |
|
18,550 |
|
|
|
18,461 |
|
Total rated notes at fair value |
|
|
|
$ |
782,908 |
|
|
|
|
$ |
562,502 |
|
|
$ |
551,021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2025 |
|
Series |
|
Final Scheduled Payment Date |
|
Initial Principal |
|
|
Contractual Interest Rate |
|
Outstanding Principal |
|
|
Fair Value |
|
United Auto Credit 2022-2-D |
|
January 10, 2028 |
|
$ |
32,889 |
|
|
6.84 |
% |
$ |
11,415 |
|
|
$ |
11,400 |
|
United Auto Credit 2022-2-E |
|
April 10, 2029 |
|
|
33,440 |
|
|
10.00 |
% |
|
28,440 |
|
|
|
13,011 |
|
United Auto Credit 2023-1-D |
|
July 10, 2028 |
|
|
35,653 |
|
|
8.00 |
% |
|
20,169 |
|
|
|
20,340 |
|
United Auto Credit 2023-1-E |
|
September 10, 2029 |
|
|
23,256 |
|
|
10.98 |
% |
|
23,256 |
|
|
|
24,770 |
|
United Auto Credit 2024-1-C |
|
October 10, 2029 |
|
|
35,190 |
|
|
7.06 |
% |
|
23,664 |
|
|
|
23,721 |
|
United Auto Credit 2024-1-D |
|
November 12, 2029 |
|
|
52,160 |
|
|
8.30 |
% |
|
52,160 |
|
|
|
52,953 |
|
United Auto Credit 2024-1-E |
|
November 12, 2030 |
|
|
37,540 |
|
|
10.45 |
% |
|
37,540 |
|
|
|
39,263 |
|
United Auto Credit 2025-1-A |
|
June 10, 2027 |
|
|
138,300 |
|
|
4.80 |
% |
|
37,290 |
|
|
|
37,324 |
|
United Auto Credit 2025-1-B |
|
February 10, 2028 |
|
|
50,450 |
|
|
5.05 |
% |
|
50,450 |
|
|
|
50,642 |
|
United Auto Credit 2025-1-C |
|
June 10, 2030 |
|
|
32,660 |
|
|
5.15 |
% |
|
32,660 |
|
|
|
32,849 |
|
United Auto Credit 2025-1-D |
|
July 10, 2030 |
|
|
50,810 |
|
|
5.96 |
% |
|
50,810 |
|
|
|
51,166 |
|
United Auto Credit 2025-1-E |
|
October 10, 2031 |
|
|
35,560 |
|
|
7.71 |
% |
|
35,560 |
|
|
|
35,805 |
|
Total rated notes at fair value |
|
|
|
$ |
557,908 |
|
|
|
|
$ |
403,414 |
|
|
$ |
393,244 |
|
|
| Schedule of Aggregate Principal Balance and Net Carrying Value of Finance Receivables Pledged to Securitization Debt |
The aggregate principal balance and the net carrying value of finance receivables pledged to the securitization debt consists of the following (in thousands):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of March 31, |
|
|
As of December 31, |
|
|
|
2026 |
|
|
2025 |
|
|
|
Aggregate Principal Balance |
|
|
Net Carrying Value (1) |
|
|
Aggregate Principal Balance |
|
|
Net Carrying Value |
|
United Auto Credit 2022-2 |
|
$ |
22,731 |
|
|
$ |
21,554 |
|
|
$ |
28,924 |
|
|
$ |
25,869 |
|
United Auto Credit 2023-1 |
|
|
41,591 |
|
|
|
34,069 |
|
|
|
51,291 |
|
|
|
44,224 |
|
United Auto Credit 2024-1 |
|
|
129,109 |
|
|
|
112,638 |
|
|
|
152,603 |
|
|
|
134,903 |
|
United Auto Credit 2025-1 |
|
|
220,932 |
|
|
|
202,227 |
|
|
|
257,485 |
|
|
|
236,088 |
|
United Auto Credit 2026-1 |
|
|
260,229 |
|
|
|
230,578 |
|
|
|
— |
|
|
|
— |
|
Total finance receivables of CFEs |
|
$ |
674,592 |
|
|
$ |
601,066 |
|
|
$ |
490,303 |
|
|
$ |
441,084 |
|
(1) For the Successor period, net carrying value is equal to fair value. |
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