Exeter Select 2025-2 closes $368.2M sub-prime auto ABS with seven note classes

EFCAR, LLC

Issued $47M Class A-1, $131.47M A-2, $73.685M A-3, $26.84M B, $43.66M C, $38.56M D, $6.99M E notes.
Notes backed by sub-prime auto loan contracts transferred from Exeter Finance LLC to EFCAR, LLC.
Closing date July 30, 2025; Citibank, N.A. acts as indenture trustee and backup servicer.
Purchase Agreement (Ex-10.1) includes standard representations and warranties on receivables.
Transaction involves servicing, custody, and asset representations review agreements.

item 1.01item 9.01

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