Bridgecrest Auto Funding LLC 8-K

What Happened

• Bridgecrest Auto Funding LLC (BAF) and Bridgecrest Acceptance Corporation (BAC) completed a securitization transaction on April 28, 2026. BAC sold certain motor‑vehicle retail installment sales contracts (the Receivables) to BAF, which were transferred into newly formed trusts — Bridgecrest Lending Auto Securitization Trust 2026-2 (Issuer) and Bridgecrest Lending Auto Securitization Grantor Trust 2026-2 (Grantor Trust).
• The Issuer issued several classes of auto loan asset-backed notes under an Indenture. Publicly registered notes were issued as Class A-1 (3.971%), A-2 (4.24%), A-3 (4.27%), B (4.56%), C (4.88%) and D (5.19%). A Class E note (7.17%) in the aggregate principal amount of $61,550,000 was issued to BAF and sold to Qualified Institutional Buyers under Rule 144A. BAC will act as servicer and administrator; Wilmington Trust and Computershare Trust Company serve trustee roles. The Publicly Registered Notes were sold to underwriters and registered on Form SF-3 (File No. 333-271899).

Key Details

• Transaction closing date: April 28, 2026.
• Class E Notes issued/sold: $61,550,000 (7.17% coupon) to Qualified Institutional Buyers.
• Publicly Registered Notes issued with coupons: A‑1 3.971%, A‑2 4.24%, A‑3 4.27%, B 4.56%, C 4.88%, D 5.19%; sold to underwriters (Wells Fargo Securities, BMO Capital Markets, Deutsche Bank Securities, Citigroup).
• Security interest: Issuer and Grantor Trust granted security interests in the Receivables to secure the Notes; BAC will service and administer the Receivables.

Why It Matters

• For investors, this filing documents a new asset-backed securities issuance backed by Bridgecrest-originated auto loans, showing how the company funds receivables and transfers credit exposure to investors. The mix of publicly registered notes and a Rule 144A Class E tranche indicates both retail/registered and institutional placements.
• Key numbers to watch: the $61.55M Class E tranche size and the stated coupon rates on each class, which determine investor returns and priority of payments. The servicer (BAC) and trustee arrangements affect ongoing administration and enforcement of the collateral.