8-K
filed March 31, 2026, 7:59 PM ET
CIK 0001654238
other material
confidence high
sentiment neutral
materiality 0.50
Exeter closes $739M subprime auto ABS issuance with eight note classes
EFCAR, LLC
- Exeter Automobile Receivables Trust 2026-2 closed on March 31, issuing $739.17M in asset-backed notes.
- Eight note classes: A-1 ($65M), A-2 ($149.65M), A-3 ($156.22M), B ($82.21M), C ($85.23M), D ($110.62M), E ($75.39M), N ($14.85M).
- Securitization backed by subprime auto loan contracts transferred from sponsor Exeter Finance LLC.
- Citibank, N.A. is indenture trustee; agreements include Purchase, Sale & Servicing, and Indenture.
Machine-readable event card
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- filed_at
- 2026-03-31T23:59:59+00:00
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- generated_at
- 2026-05-15T08:10:55.869717+00:00
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- event_type
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- materiality_score
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- calibrated_materiality_score
- 0.5
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- high
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- https://www.sec.gov/Archives/edgar/data/1654238/000092963826001316/eart2026-2_8k.htm
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Key facts
Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
EFCAR, LLC entered into Purchase Agreement with Exeter Finance LLC (effective 2026-03-31).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- Exeter Finance LLC
- Effective
- 2026-03-31
Exact text from the filing
(a) a Purchase Agreement, dated as of March 9, 2026 (the “Purchase Agreement”), between Exeter Finance LLC (“Exeter”), as seller, and EFCAR, as purchaser, pursuant to which Exeter transferred certain sub-prime automobile loan contracts (the “Receivables”) to EFCAR;
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
EFCAR, LLC entered into Contribution Agreement with the Holdings Trust and the Trust (effective 2026-03-31).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- the Holdings Trust and the Trust
- Effective
- 2026-03-31
Exact text from the filing
(c) a Contribution Agreement, dated as of March 9, 2026 (the “Contribution Agreement”), between the Holdings Trust, as transferee, and the Trust, as transferor, pursuant to which the Receivables were contributed by the Trust to the Holdings Trust;
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
EFCAR, LLC entered into Sale and Servicing Agreement with the Holdings Trust, the Trust, Exeter Finance LLC, and Citibank, N.A. (effective 2026-03-31).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- the Holdings Trust, the Trust, Exeter Finance LLC, and Citibank, N.A.
- Effective
- 2026-03-31
Exact text from the filing
(b) a Sale and Servicing Agreement, dated as of March 9, 2026 (the “Sale and Servicing Agreement”), among the Holdings Trust, EFCAR, as seller, Exeter, as servicer (in such capacity, the “Servicer”), the Trust, the Indenture Trustee and Citibank, N.A., as backup servicer (in such capacity, the “Backup Servicer”), pursuant to which EFCAR transferred the Receivables to the Trust and the Receivables are serviced by the Servicer;
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
EFCAR, LLC entered into Indenture with the Trust, the Holdings Trust, and Citibank, N.A., as indenture trustee (effective 2026-03-31).
- Action
- entry
- Agreement
- notes offering
- Counterparty
- the Trust, the Holdings Trust, and Citibank, N.A., as indenture trustee
- Effective
- 2026-03-31
Exact text from the filing
(g) an Indenture, dated as of March 9, 2026 (the “Indenture”), among the Trust, the Holdings Trust and the Indenture Trustee, pursuant to which the Notes were issued and a security interest in certain collateral was granted to the Indenture Trustee;
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
EFCAR, LLC entered into Asset Representations Review Agreement with the Trust, the Servicer, and Clayton Fixed Income Services LLC (effective 2026-03-31).
- Action
- entry
- Counterparty
- the Trust, the Servicer, and Clayton Fixed Income Services LLC
- Effective
- 2026-03-31
Exact text from the filing
(f) an Asset Representations Review Agreement, dated as of March 9, 2026 (the “Asset Representations Review Agreement”), among the Trust, the Servicer, and Clayton Fixed Income Services LLC, as asset representations reviewer (the “Asset Representations Reviewer”), pursuant to which the Asset Representations Reviewer agrees to review certain representations regarding the Receivables in certain circumstances;
View on SEC.gov
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(a) a Purchase Agreement, dated as of March 9, 2026 (the “Purchase Agreement”), between Exeter Finance LLC (“Exeter”), as seller, and EFCAR, as purchaser, pursuant to which Exeter transferred certain sub-prime automobile loan contracts (the “Receivables”) to EFCAR;
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(a) a Purchase Agreement, dated as of March 9, 2026 (the “Purchase Agreement”), between Exeter Finance LLC (“Exeter”), as seller, and EFCAR, as purchaser, pursuant to which Exeter transferred certain sub-prime automobile loan contracts (the “Receivables”) to EFCAR;
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(a) a Purchase Agreement, dated as of March 9, 2026 (the “Purchase Agreement”), between Exeter Finance LLC (“Exeter”), as seller, and EFCAR, as purchaser, pursuant to which Exeter transferred certain sub-prime automobile loan contracts (the “Receivables”) to EFCAR;
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(a) a Purchase Agreement, dated as of March 9, 2026 (the “Purchase Agreement”), between Exeter Finance LLC (“Exeter”), as seller, and EFCAR, as purchaser, pursuant to which Exeter transferred certain sub-prime automobile loan contracts (the “Receivables”) to EFCAR;
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(a) a Purchase Agreement, dated as of March 9, 2026 (the “Purchase Agreement”), between Exeter Finance LLC (“Exeter”), as seller, and EFCAR, as purchaser, pursuant to which Exeter transferred certain sub-prime automobile loan contracts (the “Receivables”) to EFCAR;
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(a) a Purchase Agreement, dated as of March 9, 2026 (the “Purchase Agreement”), between Exeter Finance LLC (“Exeter”), as seller, and EFCAR, as purchaser, pursuant to which Exeter transferred certain sub-prime automobile loan contracts (the “Receivables”) to EFCAR;
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(a) a Purchase Agreement, dated as of March 9, 2026 (the “Purchase Agreement”), between Exeter Finance LLC (“Exeter”), as seller, and EFCAR, as purchaser, pursuant to which Exeter transferred certain sub-prime automobile loan contracts (the “Receivables”) to EFCAR;
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same fact type: material_agreement
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(a) a Purchase Agreement, dated as of March 9, 2026 (the “Purchase Agreement”), between Exeter Finance LLC (“Exeter”), as seller, and EFCAR, as purchaser, pursuant to which Exeter transferred certain sub-prime automobile loan contracts (the “Receivables”) to EFCAR;
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