Bridgecrest Auto Funding LLC 8-K

What Happened Bridgecrest Auto Funding LLC (BAF) and Bridgecrest Acceptance Corporation (BAC) filed an 8‑K reporting that on July 30, 2026 they completed a securitization transaction transferring motor‑vehicle retail installment sales contracts (the “Receivables”) into a newly formed issuance structure. Bridgecrest Lending Auto Securitization Trust 2026‑3 (Issuer) and Bridgecrest Lending Auto Securitization Grantor Trust 2026‑3 (Grantor Trust) were established (amended and restated) and the Receivables were transferred into the trusts pursuant to a Purchase Agreement, a Sale and Servicing Agreement and a Receivables Contribution Agreement. An Indenture was entered into and the Issuer issued multiple classes of auto loan asset‑backed notes, with BAC serving as servicer and granting a security interest in the Receivables to secure the Notes.

Key Details

• Closing Date: July 30, 2026. Trusts originally established Dec. 2, 2025 and amended/ restated on closing.
• Publicly Registered Notes issued (coupons): Class A‑1 3.997%, A‑2 4.46%, A‑3 4.64%, Class B 4.84%, Class C 5.02%, Class D 5.59%.
• Class E Notes: $62,170,000 aggregate principal issued to BAF and sold to Qualified Institutional Buyers under Rule 144A.
• Underwriters for the registered notes: BMO Capital Markets, Citigroup Global Markets, Deutsche Bank Securities and Wells Fargo Securities; registration via Form SF‑3 (File No. 333‑271899). Clayton Fixed Income Services LLC was engaged to review certain asset representations.

Why It Matters This filing documents a funding transaction that monetizes Bridgecrest’s auto‑loan receivables by packaging them into secured notes. For investors, the transaction shows how Bridgecrest finances its loan originations (through securitization) and the coupon rates provide a market signal of the cost of that funding for different risk tranches. The Notes are secured by the underlying Receivables, and the Class E tranche was placed privately with institutional buyers (not available to retail investors).