Bridgecrest Auto Funding LLC 8-K

What Happened

• Bridgecrest Auto Funding LLC (BAF) and Bridgecrest Acceptance Corporation (BAC) entered into an Underwriting Agreement with BMO Capital Markets Corp. as lead underwriter on July 21, 2026, to sell notes to be issued by Bridgecrest Lending Auto Securitization Trust 2026-3. The offering is expected to close on July 30, 2026. The issuance includes multiple classes of auto loan asset‑backed notes, some publicly registered and one unregistered class.

Key Details

• Notes and coupon rates: Class A-1 3.997%, A-2 4.46%, A-3 4.64%, B 4.84%, C 5.02%, D 5.59% (these are the Publicly Registered Notes) and Class E 7.36% (not registered).
• Registration: Publicly Registered Notes were registered under the Securities Act via Form SF-3 (Commission File No. 333-271899); Class E notes are not registered.
• Structure and roles at closing (anticipated July 30, 2026): BAF is depositor; BAC will transfer receivables and act as servicer/sponsor/administrator; Wilmington Trust, N.A. is owner trustee/grantor trust trustee; Computershare Trust Company, N.A. is indenture trustee; Clayton Fixed Income Services LLC will review asset representations.
• Transaction documents: forms of the Indenture, Purchase Agreement, Sale & Servicing Agreement, Receivables Contribution Agreement, Administration Agreement, amended trust agreements and an Asset Representations Review Agreement were filed as exhibits; the registrant’s CEO also provided the required depositor certification (Exhibit 36.1).

Why It Matters

• This 8-K describes a securitization financing: BAF/BAC will transfer auto-loan receivables into a new trust and issue secured notes to investors. That process raises funding for Bridgecrest’s auto‑loan business and replaces or supplements other funding sources.
• The stated coupon rates show the explicit cost of borrowing for each class of notes; investors and counterparties can use these rates to gauge market pricing for Bridgecrest‑originated auto loans at this time.
• The filing confirms the parties, legal structure and service/credit support for the deal (servicer, trustees, asset reviewer), which are key factual details investors need to assess the transaction’s mechanics and collateral backing.