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Subsequent Events
3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events

(11) Subsequent Events

 

On May 12, 2025, we executed our second securitization of 2025. In the transaction, qualified institutional buyers purchased $419.95 million of asset-backed notes secured by $439.29 million in automobile receivables originated by CPS. The sold notes, issued by CPS Auto Receivables Trust 2025-B, consist of five classes. Ratings of the notes were provided by Standard & Poor’s and DBRS Morningstar, and were based on the structure of the transaction, the historical performance of similar receivables and CPS’s experience as a servicer. The weighted average yield on the notes is approximately 5.96%.