Bridgecrest Auto Funding LLC 8-K

What Happened Bridgecrest Auto Funding LLC (BAF) and Bridgecrest Acceptance Corporation (BAC) announced on January 28, 2026 that BAC transferred certain motor vehicle retail installment sales contracts (the "Receivables") to BAF and related statutory trusts as part of a securitization transaction. Bridgecrest Lending Auto Securitization Trust 2026-1 (the Issuer) and Bridgecrest Lending Auto Securitization Grantor Trust 2026-1 (the Grantor Trust) were established (original trust agreements dated December 2, 2025 and amended on the closing date). The Issuer issued multiple classes of auto loan asset-backed notes secured by the Receivables and related property, and BAC will act as servicer and administrator for the Receivables.

The publicly registered notes were sold to underwriters (Deutsche Bank Securities, BMO Capital Markets, Citigroup Global Markets, Fifth Third Securities and Wells Fargo Securities) under an underwriting agreement and registered under Form SF-3. Separately, BAF received and sold Class E notes—aggregate principal of $46,360,000—to Qualified Institutional Buyers under Rule 144A. Key trustees and service providers include Wilmington Trust (trustee roles), Computershare Trust Company (indenture trustee and standby servicer), and Clayton Fixed Income Services (asset representations reviewer).

Key Details

• Closing date: January 28, 2026 (trusts originally established Dec 2, 2025; agreements amended and restated on closing).
• Notes issued (coupon rates): Class A-1 3.906%, A-2 4.10%, A-3 4.04%, Class B 4.25%, Class C 4.44%, Class D 4.99% (Publicly Registered Notes); Class E 6.63% (sold via Rule 144A).
• Class E Notes sold to Qualified Institutional Buyers: aggregate principal $46,360,000.
• Security: Issuer and Grantor Trust granted a security interest in the Receivables and related property to secure the Notes; BAC will serve as servicer/administrator.

Why It Matters This filing documents a financing transaction in which Bridgecrest transferred auto-loan receivables into a securitization trust and funded that pool by issuing asset-backed notes. For investors, the transaction affects who holds and services the receivables (now in trust), creates publicly registered bonds and privately placed Class E notes secured by those receivables, and provides liquidity/funding to Bridgecrest’s originator/depositor entities. Investors in Bridgecrest-related securities or in the issued notes should note the issuance structure, coupon rates, security interest in the receivables, and the sale of Class E notes to institutional buyers.