EFCAR, LLC Enters Capital Contribution Agreement for Auto Trusts

What Happened EFCAR, LLC reported on Form 8-K that, on September 16, 2026, Exeter Finance LLC, EFCAR, LLC and four Exeter Automobile Receivables Trusts (2022-2, 2022-3, 2022-4 and 2022-5) entered into a Capital Contribution Agreement. The agreement — acknowledged and agreed to by Citibank, N.A. as indenture trustee — allows EFCAR, LLC, as an equity holder of each trust, to make certain limited capital contributions to those trusts. The agreement is filed as Exhibit 4.8 (dated September 15, 2026).

Key Details

• Parties: Exeter Finance LLC, EFCAR, LLC, Exeter Automobile Receivables Trusts 2022-2/3/4/5; Citibank, N.A. acknowledged as indenture trustee.
• Date: Agreement entered into on September 16, 2026 (exhibit dated September 15, 2026).
• Scope: EFCAR, LLC may make "certain limited capital contributions" to each listed trust (no dollar amounts disclosed).
• Filing: Agreement attached as Exhibit 4.8 to the Form 8-K.

Why It Matters This agreement creates a formal mechanism for EFCAR, LLC to provide limited additional capital to the named auto receivables trusts, which can support those securitizations if funding or shortfalls arise. For investors, it is a credit-support related action rather than an earnings announcement or management change; the filing does not disclose contribution amounts or fees, so the financial impact and timing are not specified.