Bridgecrest Auto Funding LLC 8-K

What Happened
Bridgecrest Auto Funding LLC (BAF) and Bridgecrest Acceptance Corporation (BAC) filed an 8‑K disclosing an Underwriting Agreement dated April 16, 2026 with Wells Fargo Securities, LLC (as representative) to sell multiple classes of auto loan asset‑backed notes issued by Bridgecrest Lending Auto Securitization Trust 2026‑2. The publicly registered note classes and stated coupon rates are: Class A‑1 3.971%, Class A‑2 4.24%, Class A‑3 4.27%, Class B 4.56%, Class C 4.88% and Class D 5.19%. The Issuer will also issue unregistered Class E notes at 7.17%. The transaction is anticipated to close and the Notes to be issued on April 28, 2026.

Key Details

• Underwriting Agreement executed April 16, 2026 with Wells Fargo Securities, LLC as representative of the underwriters.
• Publicly registered notes are issued under a Form SF‑3 registration (File No. 333‑271899); Class E (7.17%) is not registered.
• On the closing date the parties will complete a structured securitization: BAC will transfer motor‑vehicle retail installment contracts (the Receivables) to BAF/related trusts via a Purchase Agreement, Receivables Contribution Agreement and Sale & Servicing Agreement.
• The Issuer and Grantor Trust will grant a security interest in the Receivables under an Indenture (Computershare Trust Company, N.A. as indenture trustee); Clayton Fixed Income Services LLC will serve as asset representations reviewer. CEO depositor certification required by Form SF‑3 was filed as Exhibit 36.1.

Why It Matters
This 8‑K shows Bridgecrest is securitizing a pool of auto loans to raise funding via multiple tranches of asset‑backed notes. For investors, the announced coupon rates and the presence of a higher‑yield, unregistered subordinate Class E tranche (7.17%) provide concrete pricing and priority information for the deal. The transaction documents (indenture, purchase/sale agreements, administration and contribution agreements) establish that the Notes will be secured by the underlying receivables and that BAC will act as servicer—important details for assessing credit structure and recovery mechanics.