# EDGAR Filing Document

**Accession Number:** 0001757871
**File Stem:** 0001140361-25-021149
**Filing Date:** 2025-6
**Character Count:** 13560
**Document Hash:** 25981da52c86991469f10fc1d11bb5ca
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-021149.hdr.sgml**: 20250602

**ACCESSION NUMBER**: 0001140361-25-021149

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250602

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20250602

**DATE AS OF CHANGE**: 20250602

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Other

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tricolor Auto Receivables 2 LLC
- **CENTRAL INDEX KEY:** 0001757871

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-04194
- **FILM NUMBER:** 251016075

**BUSINESS ADDRESS:**
- **STREET 1:** 1111 WEST MOCKINGBIRD LANE
- **STREET 2:** SUITE 1500
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75247
- **BUSINESS PHONE:** 214-271-0640

**MAIL ADDRESS:**
- **STREET 1:** 1111 WEST MOCKINGBIRD LANE
- **STREET 2:** SUITE 1500
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75247
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tricolor Auto Receivables 2 LLC
- **CENTRAL INDEX KEY:** 0001757871

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** 1111 WEST MOCKINGBIRD LANE
- **STREET 2:** SUITE 1500
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75247
- **BUSINESS PHONE:** 214-271-0640

**MAIL ADDRESS:**
- **STREET 1:** 1111 WEST MOCKINGBIRD LANE
- **STREET 2:** SUITE 1500
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75247

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### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### FORM ABS-15G

#### ASSET-BACKED SECURITIZER

#### REPORT PURSUANT TO SECTION 15G OF

#### THE SECURITIES EXCHANGE ACT OF 1934
Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

☐ Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period

<u> <br> </u> to  

Date of Report (Date of earliest event reported)   <br>

Commission File Number of securitizer:   <br>

Central Index Key Number of securitizer: <u><br> </u>

Name and telephone number, including area code, of the person to contact in connection with this filing

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ☐

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐

&nbsp;&nbsp;&nbsp;&nbsp;☒ Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: <u>0001757871</u> <br>

## Tricolor Auto Securitization Trust 2025-2

#### (Exact name of issuing entity as specified in its charter)
Central Index Key Number of issuing entity (if applicable): <u> Not applicable </u> <br> Central Index Key Number of underwriter (if applicable): <u> Not applicable </u>

 

<br> <u>Daniel Chu, (424) 290-2200</u>

Name and telephone number, including area code, of the person to

contact in connection with this filing

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#### PART II: FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS

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| | |
|:---|:---|
| **Item 2.01:** | **Findings and Conclusions of a Third Party Due Diligence Report Obtained by the Issuer** |

---

The disclosures required by Rule 15Ga-2 (17 CFR 240.15Ga-2) are attached as an Exhibit to this Form ABS-15G. Please see Exhibit 99.1 for the related information.

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TRICOLOR AUTO RECEIVABLES 2 LLC <br>(Depositor)

---

| | | |
|:---|:---|:---|
|  | By: | /s/ Daniel Chu |
|  |  | Daniel Chu |
|  |  | Chief Executive Officer |
| Date: June 2, 2025 |  |  |

---

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#### EXHIBIT INDEX

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| | |
|:---|:---|
| **[Exhibit 99.1](ef20049977_ex99-1.htm)** | Independent Accountants' Report on Applying Agreed-Upon Procedures, dated May 29, 2025. |

---

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## Exhibit 99.1

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**Exhibit 99.1**<br>

![](image00001.jpg)

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**grant thornton llp**

500 N. Akard Street,Suite 1200

Dallas, TX 75201

D +1 214 561 2300

F +1 214 561 2370

#### REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

#### <br>

**Board of Directors and Management of Tricolor Auto Acceptance, LLC, Tricolor Auto Securitization 2025-2, and Barclays Capital Inc.:

We have performed the procedures enumerated below, on certain information with respect to attributes of Tricolor Auto Acceptance, LLC's (the "Company") automobile receivables as of April 30, 2025 (the "Subject Matter") related to Tricolor Auto Securitization 2025-2's (the "Issuer") issuance of certain classes of Notes (the "Securitization Transaction"). The Company's management is responsible for the Data File (as defined herein) accurately representing the information included in the underlying asset documents and the disclosed assumptions and methodologies.

The Company has agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting specified parties in evaluating the Subject Matter. This report may not be suitable for any other purpose. Additionally, the Issuer and Barclays Capital Inc. ("Barclays", and together with the Company and Issuer, the "Specified Parties") have agreed to and acknowledged that the procedures performed are appropriate for their purposes. The procedures performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes.

Consequently, we make no representation regarding the appropriateness of the procedures enumerated below either for the intended purpose for which this report has been requested or for any other purpose.

The procedures we performed on the automobile receivables and our findings are as described herein.

For the purposes of our procedures, we were instructed by the Company that:

&nbsp;&nbsp;&nbsp;&nbsp;(i) differences of less than $1.00, 0.01 (numbers and years) or 0.01%, as applicable, were deemed to be in agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(ii) differences in the "Current Maturity Date" characteristic that are less than or equal to 30 days were deemed to be in agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(iii) differences in the "Original Term (in Months)" characteristic that are less than or equal to one month were deemed to be in agreement.

Unless otherwise indicated, the following are defined for the purposes of our procedures:

&nbsp;&nbsp;&nbsp;&nbsp;• the phrase "compared" means we checked the information for agreement between sources, with any findings being reported unless a deviation tolerance is otherwise noted. If applicable, such compared amounts and percentages are deemed to be in agreement if differences were attributable to rounding.**

GT.COM Grant Thornton LLP is a U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and each of its member firms are separate legal entities and are not a worldwide partnership.

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![](image00001.jpg)<br>

&nbsp;&nbsp;&nbsp;&nbsp;• the phrase "recomputed" or "recomputation" means, if applicable, we recalculated the number through mathematical calculation using the applicable information in the Data File (as defined herein) as the inputs,
 with any findings being reported unless a deviation tolerance is otherwise noted. If applicable, such recomputed amounts and percentages are deemed to be in agreement if differences were attributable to rounding.

&nbsp;&nbsp;&nbsp;&nbsp;• the phrase "Source Documents" means a record containing details of a particular transaction or characteristic. Source Documents include the Contract, Title Certificate, Credit Application, Credit Bureau
 Report, Agreement to Provide Insurance (collectively, the "Credit File"), and the Company's internal system (the "Internal System").

#### Due diligence agreed-upon procedures
A. Data File Agreed-Upon Procedures

On May 13, 2025, the Company provided us with a computer readable data file (the "Data File") containing certain characteristics of the automobile receivables included in the Securitization Transaction. We performed the procedures indicated below on the automobile receivables.

Grant Thornton selected from the Data File, on a random basis, 150 automobile receivables (the "Sample Receivables"). For each of the Sample Receivables, we performed comparisons and/or recomputations for certain characteristics in the Data File (as identified in Exhibit 1) to certain available Source Documents.

#### Exhibit 1

#### Characteristics:

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| | | |
|:---|:---|:---|
|  | **Characteristic** | **Source Documents** |
| 1 | Account Number | Credit File |
| 2 | Vehicle Identification Number ("VIN") | Credit File |
| 3 | Original Amount Financed | Credit File |
| 4 | Original Term (in Months) | Internal System |
| 5 | New or Used Vehicle | Credit File |
| 6 | Obligor State of Residence | Credit File |
| 7 | Current Maturity Date | Credit File |
| 8 | Current Interest Rate | Credit File |
| 9 | Car Make | Credit File |
| 10 | Original FICO Score | Internal System |

---

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![](image00001.jpg)<br>

For "Original Amount Financed", we were instructed by the Company to exclude total sales tax for any Texas originated loans.

For Characteristics 1 through 10, we compared and agreed the information in the Data File to the Source Documents.

We noted no discrepancies between the Data File and the Source Documents.

**B. Documentation Agreed-Upon Procedures**

For each of the Sample Receivables, we observed the existence of the following:

<br> - a Title Certificate (as defined above);

<br> - the security interest of the Company is indicated on a Title Certificate;

<br> - a Credit Application;

<br> - a Credit Report for the borrower and co-borrower (if applicable);

<br> - a Truth-in-Lending Disclosure Statement; and

the Agreement to Provide Insurance, Verification of Insurance, Policy Declaration, Certificate of Insurance, Insurance Identification Card, Insurance Verification Request, Insurance Application, Binder of Insurance, Proof of Insurance, Lien Holder Service Center Summary or other related correspondence (collectively, the "Agreement to Provide Insurance").<br>

We noted no discrepancies in documentation.

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to and did not conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the Subject Matter. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

Our agreed-upon procedures engagement was not conducted for the purpose of the following:

&nbsp;&nbsp;&nbsp;&nbsp;• Addressing the conformity of the origination of the assets to stated underwriting or credit extension guidelines, standards, criteria, or other requirements;

&nbsp;&nbsp;&nbsp;&nbsp;• Addressing the value of collateral securing any such assets being securitized;

&nbsp;&nbsp;&nbsp;&nbsp;• Addressing the compliance of the originator of the assets with federal, state, and local laws and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;• Satisfying any criteria for due diligence published by a nationally recognized statistical rating organization ("NRSRO");

&nbsp;&nbsp;&nbsp;&nbsp;• Addressing any other factor or characteristic of the assets that would be material to the likelihood that the issuer of the asset-backed security will pay interest and principal in accordance with applicable
 terms and conditions, including but not limited to, whether the characteristics have implications on the future performance of the assets, underwritten value of the assets, credit quality of the assets, likelihood of return to investors
 or any other implications related to the assets or the related asset-backed securities;

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![](image00001.jpg)<br>

&nbsp;&nbsp;&nbsp;&nbsp;• Forming any conclusions; and

&nbsp;&nbsp;&nbsp;&nbsp;• Any other terms or requirements of the transaction that do not appear in this report.

We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

This report is intended solely for the information and use of the Specified Parties and is not intended to be, and should not be, used by anyone other than these specified parties, including investors and rating agencies, who are not identified as specified parties but who may have access to this report as required by law or regulation.

/S/ GRANT THORNTON LLP

Dallas, Texas<br> May 29, 2025

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