EFCAR, LLC Enters Capital Contribution Agreement with Exeter Trusts

What Happened EFCAR, LLC filed an 8-K on September 22, 2026 reporting that, on September 16, 2026, it and related parties entered into a Capital Contribution Agreement (dated September 15, 2026). The agreement was among Exeter Finance LLC, EFCAR, LLC and four securitization vehicles — Exeter Automobile Receivables Trust 2022-2, 2022-3, 2022-4 and 2022-5 — and was acknowledged by Citibank, N.A., as indenture trustee. Under the agreement, EFCAR, as the equity holder of each listed trust, may make certain limited capital contributions to those trusts.

Key Details

• Agreement dated September 15, 2026; execution/entry reported on September 16, 2026.
• Parties: Exeter Finance LLC, EFCAR, LLC, Exeter Automobile Receivables Trusts 2022-2/3/4/5; acknowledged by Citibank, N.A. (indenture trustee).
• EFCAR may make "certain limited capital contributions" to each of the four trusts; the 8-K does not disclose amounts or timing.
• The Capital Contribution Agreement is filed as Exhibit 4.9 to the 8-K.

Why It Matters The agreement gives EFCAR a contractual mechanism to provide capital support to these four automotive receivables trusts. Because the filing does not specify contribution amounts or timing, investors do not yet know the financial impact on EFCAR's balance sheet or on the trusts' cash flows. Retail investors should monitor future disclosures for details on any contributions, amounts, and any potential effects on EFCAR's liquidity or on the performance of the securitized trusts.