# EDGAR Filing Document

**Accession Number:** 0001129068
**File Stem:** 0001193125-25-272139
**Filing Date:** 2025-11
**Character Count:** 26473
**Document Hash:** 3d5a9c854e54598c87028896539d7215
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-272139.hdr.sgml**: 20251107

**ACCESSION NUMBER**: 0001193125-25-272139

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

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20251107

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

**FILED AS OF DATE**: 20251107

**DATE AS OF CHANGE**: 20251107

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Auto loans

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NISSAN AUTO RECEIVABLES Co II LLC
- **CENTRAL INDEX KEY:** 0001129068
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 954831541
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-02023
- **FILM NUMBER:** 251462265

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067
- **BUSINESS PHONE:** 6157251121

**MAIL ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NISSAN AUTO RECEIVABLES CORP II
- **DATE OF NAME CHANGE:** 20001129
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NISSAN AUTO RECEIVABLES Co II LLC
- **CENTRAL INDEX KEY:** 0001129068
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 954831541
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

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

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067
- **BUSINESS PHONE:** 6157251121

**MAIL ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NISSAN AUTO RECEIVABLES CORP II
- **DATE OF NAME CHANGE:** 20001129
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NISSAN AUTO RECEIVABLES Co II LLC
- **CENTRAL INDEX KEY:** 0001129068
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 954831541
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-02023

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067
- **BUSINESS PHONE:** 6157251121

**MAIL ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NISSAN AUTO RECEIVABLES CORP II
- **DATE OF NAME CHANGE:** 20001129

**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 _________ to _________** 

**(Exact name of securitizer as specified in its charter)** 

**Date of Report (Date of earliest event reported)<u> </u>** 

**Commission File Number of securitizer:<u> </u>** 

**Central Index Key Number of securitizer:<u> </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) ☐

☒ **Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)** 

## Nissan Auto Receivables 2025-B Owner Trust
**(Exact name of issuing entity as specified in its charter)** 

**Central Index Key Number of depositor: 0001129068** 

**Central Index Key Number of issuing entity (if applicable): 0002091790** 

**Central Index Key Number of underwriter (if applicable): Not applicable** 

**Angela Vogeli, (629) 273-2551** 

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

**to contact in connection with this filing.** 

------

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

**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 Exhibit 99.1 to this Form ABS-15G.

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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.

Dated: November 7, 2025

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| | |
|:---|:---|
| **Nissan Auto Receivables Company II LLC** | **Nissan Auto Receivables Company II LLC** |
| (Depositor) | (Depositor) |
| By: | /s/ Nathan Debernardi |
| Name: Nathan Debernardi | Name: Nathan Debernardi |
| Title: Assistant Treasurer | Title: Assistant Treasurer |

---

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**EXHIBIT INDEX** 

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| | |
|:---|:---|
| **Exhibit 99.1** | [Report of Independent Accountants on Applying Agreed-Upon Procedures, dated November 6, 2025.](d32774dex991.htm) |

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## Exhibit 99.1

**Exhibit 99.1** 

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| | | |
|:---|:---|:---|
| ![LOGO](g32774dsp0001.jpg) | <br> Ernst & Young LLP<br> One Manhattan West<br> New York, NY 10001 | <br> Tel: +1 212 773 3000<br> ey.com |

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**Report of Independent Accountants on Applying Agreed-Upon Procedures** 

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| | |
|:---|:---|
| Nissan Auto Receivables Company II LLC (the "Depositor") | 6 November 2025 |
| Nissan Motor Acceptance Company LLC (the "Sponsor") |  |
| One Nissan Way |  |
| Franklin, Tennessee 37067 |  |

---

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| | |
|:---|:---|
| **Re:** | **Nissan Auto Receivables 2025-B Owner Trust (the "Issuing Entity")**  |

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**Asset-Backed Notes (the "Notes")** 

**Sample Receivable Agreed-Upon Procedures** 

We have performed the procedures enumerated in Attachment A, which were agreed to and acknowledged as appropriate by the Depositor, Sponsor, Mizuho Securities USA LLC, BNP Paribas Securities Corp., Wells Fargo Securities, LLC and MUFG Securities Americas Inc. (collectively, the "Specified Parties"), for the intended purpose of assisting the Specified Parties in evaluating the accuracy of certain information with respect to a pool of motor vehicle retail installment contracts secured by new, near-new and used automobiles and light-duty trucks (the "Receivables") relating to the Issuing Entity's securitization transaction. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The appropriateness of these procedures is solely the responsibility of the Specified Parties identified in this report. No other party acknowledged the appropriateness of the procedures. Consequently, we make no representation regarding the appropriateness of the procedures described in Attachment A, either for the purpose for which this report has been requested or for any other purpose.

The procedures performed and our associated findings are included in Attachment A.

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| | |
|:---|:---|
| ![LOGO](g32774dsp0001.jpg) | Page 2 of 4 |

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For the purpose of the procedures described in this report, the Sponsor, on behalf of the Depositor, provided us with, or instructed us to obtain, as applicable:

a. Electronic data files (collectively, the "Provided Preliminary Data Files"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Labeled "NAROT 25-B Preliminary Pool Bankfile 9.30.25.txt"
and the corresponding record layout and decode information, as applicable (the "Preliminary Base Data File"), that the Sponsor, on behalf of the Depositor, indicated contains information as of 30 September 2025 (the
"Preliminary Cut-off Date") relating to a pool of motor vehicle retail installment contracts secured by new, near-new and used automobiles and light-duty trucks (the "Preliminary Receivables") that are expected to be representative of the Receivables and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Labeled "NAROT 2025-B Auto Decision 09.30.25 - Preliminary
Pool.xlsx" and the corresponding record layout and decode information, as applicable (the "Preliminary Auto Decision Data File"), that the Sponsor, on behalf of the Depositor, indicated contains information as of the Preliminary Cut-off Date relating to the approval type for each Preliminary Receivable,

b. Imaged copies of the following items (collectively, the "Source Documents"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The simple interest retail installment contract, retail installment sale contract, contract for sale and
security agreement, motor vehicle installment sales contract, vehicle contract for sale and security agreement, credit sale contract, correction notice or other related documents (collectively and as applicable, the "Contract"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Certain printed screen shots and payment histories from the Sponsor's loan servicing system (the
"System Screen Shots") and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. The certificate of title, electronic title, lien and title information, notice of lien application, notice of
recorded lien, notice of security interest filing, notification of lien perfection, vehicle application, application for certificate of ownership, application for title, application for vehicle registration, notice of lien application, title,
lien & registration records, title lien statement, title report, title registration, certificate of lien release to a motor vehicle and lien report summary, registration record, online vehicle report or other related documents (collectively
and as applicable, the "Title")

that the Sponsor, on behalf of the Depositor, indicated relate the Sample Receivables (as defined in Attachment A), as applicable,

c. Information, assumptions and methodologies (collectively, the "Approval Type Methodology") that the
Sponsor, on behalf of the Depositor, indicated relate to the comparison of the approval type Sample Characteristic (as defined herein),

d. The list of relevant characteristics (the "Sample Characteristics") on the Preliminary Data File
(as defined in Attachment A), which is shown on Exhibit 1 to Attachment A, and

e. Instructions, assumptions and methodologies, which are described in Attachment A.

For the purpose of the procedures described in this report, certain information contained on the Preliminary Data File is collectively the "Subject Matter" as of the date of this report.

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| | |
|:---|:---|
| ![LOGO](g32774dsp0001.jpg) | Page 3 of 4 |

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The procedures included in Attachment A were limited to comparing, observing or recalculating certain information that is further described in Attachment A. The Depositor is responsible for the Subject Matter, Provided Preliminary Data Files, Source Documents, Approval Type Methodology, Sample Characteristics and the determination of the instructions, assumptions and methodologies that are described herein. We were not requested to perform, and we have not performed, any procedures other than those listed in Attachment A. We have not verified, and we make no representation as to, the accuracy, completeness or reasonableness of the Provided Preliminary Data Files, Source Documents, Approval Type Methodology or any other information provided to us, or that we were instructed to obtain, as applicable, by the Sponsor, on behalf of the Depositor, upon which we relied in forming our findings. Accordingly, we make no representation and express no opinion or conclusion as to (a) the existence of the Preliminary Receivables or Receivables, (b) questions of legal or tax interpretation or (c) the appropriateness, accuracy, completeness or reasonableness of any instructions, assumptions and methodologies provided to us by the Sponsor, on behalf of the Depositor, that are described in this report. We undertake no responsibility to update this report for events and circumstances occurring after the date hereof.

This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (the "AICPA"). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to, and did not, conduct an examination to express an opinion or a review to express a conclusion in accordance with attestation standards established by the AICPA on any of the items referred to herein. 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.

The agreed-upon procedures described in this report were not performed for the purpose of:

a. Satisfying any criteria for due diligence published by a nationally recognized statistical rating organization
(a "rating agency") or

b. Making any findings with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Whether the origination of the Receivables conformed to, or deviated from, stated underwriting or credit
extension guidelines, standards, criteria or other requirements,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. The value of the collateral securing the Receivables,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Whether the originator(s) of the Receivables complied with federal, state or local laws or regulations or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Any other factor or characteristic of the Receivables that would be material to the likelihood that the issuer
of the Notes will pay interest and principal in accordance with applicable terms and conditions.

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|:---|:---|
| ![LOGO](g32774dsp0001.jpg) | Page 4 of 4 |

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We are required to be independent of the Depositor and to meet our other ethical responsibilities, as applicable, for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedures engagements are less restrictive than independence requirements for audit and other attestation services.

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 the Specified Parties. It is not intended to be, and should not be, used by any other person or entity, including investors and rating agencies, who are not identified in the report as Specified Parties but who may have access to this report as required by law or regulation.

/s/ Ernst & Young LLP

6 November 2025

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| | |
|:---|:---|
| ![LOGO](g32774dsp0001.jpg) | **Attachment A**<br> Page 1 of 2 |

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**<u>Procedures performed and our associated findings</u>**

1. As instructed by the Sponsor, on behalf of the Depositor, we randomly selected a sample of 125 Preliminary
Receivables from the Preliminary Base Data File (the "Sample Receivables"). For the purpose of this procedure, the Sponsor, on behalf of the Depositor, did not inform us as to the basis for how they determined the number of Sample
Receivables or the methodology they instructed us to use to select the Sample Receivables from the Preliminary Base Data File.

For the purpose of the procedures described in this report, the 125 Sample Receivables are referred to as Sample Receivable Numbers 1 through 125.

2. As instructed by the Sponsor, on behalf of the Depositor, we appended the information for each Preliminary
Receivable on the Preliminary Base Data File with the corresponding:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Approval type (the "Auto Decision"), as shown on the Preliminary Auto Decision Data File, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Grace period (the "Grace Period"), which the Sponsor, on behalf of the Depositor, instructed us to
calculate as the difference in months between the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Original first payment date (First Payment Date) and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Origination date (Contract Date),

both as shown on the Preliminary Base Data File.

The Preliminary Base Data File, as adjusted, is hereinafter referred to as the "Preliminary Data File."

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| | |
|:---|:---|
| ![LOGO](g32774dsp0001.jpg) | **Attachment A**<br> Page 2 of 2 |

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3. For each Sample Receivable, we:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Compared the Sample Characteristics listed on Exhibit 1 to Attachment A, as shown on the Preliminary Data File,
to the corresponding information located in, or to the corresponding information we recalculated using information located in, the Source Documents, subject to the instructions, assumptions and methodologies provided to us by the Sponsor, on behalf
of the Depositor, described in the notes to Exhibit 1 to Attachment A. The Source Document(s) that we were instructed by the Sponsor, on behalf of the Depositor, to use for each Sample Characteristic are shown on Exhibit 1 to Attachment A.
Except for the information shown on Exhibit 2 to Attachment A, all such compared information was found to be in agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Observed that the corresponding Contract contained a signature in the buyer signature section of such Contract.
We performed no procedures to determine the validity of the signature contained in the buyer signature section of such Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Observed that the Sponsor, Nissan Motor Acceptance Corporation ("NMAC") or Infiniti Financial
Services ("IFS") was the named lien holder, secured party or owner on the corresponding Title, subject to the additional instruction(s) provided by the Sponsor, on behalf of the Depositor, described in the succeeding paragraph(s).

For the purpose of this procedure, the Sponsor, on behalf of the Depositor, instructed us to ignore differences that appear to be due to abbreviation, truncation or spelling errors.

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**Exhibit 1 to Attachment A**<br> Page 1 of 3<br>

**<u>Sample Characteristics and Source Documents</u>**

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| | | |
|:---|:---|:---|
| **Sample Characteristic** | **Preliminary**<br> **Data File Field Name** | **Source Document(s)** |
| Account number | Account Number | System Screen Shots |
| Origination date | Contract Date | Contract and System Screen Shots |
| Model | Model | Contract and System Screen Shots |
| Original principal balance | OriginalLoanAmount | Contract and System Screen Shots |
| Annual percentage rate | Original APR | Contract and System Screen Shots |
| Monthly payment amount | Monthly Payment | Contract |
| Number of scheduled payments | Scheduled Payments - Original | Contract |
| Customer state | Current Customer State | Contract |
| Electronic contract (Y/N) | E-contract Indicator | Contract |
| VIN | VIN | Contract, System Screen Shots and Title |
| Model year | Model Year | Contract, System Screen Shots and Title |
| Next payment due date | Next Payment Due Date | System Screen Shots |
| Current principal balance | Unpaid Principal Balance | System Screen Shots |
| Maturity date | Current Maturity Date | System Screen Shots |
| FICO score | Credit Score | System Screen Shots |
| Approval type | Auto_Decision | System Screen Shots |
| New or used | New-Used-NearNew | Contract |
| Original first payment date | First Payment Date | Contract or System Screen Shots |
| Remaining term to maturity | RemainingTerm | Contract, System Screen Shots and recalculation |
| Grace period | Grace Period | (a) Contract, System Screen Shots and recalculation or<br> (b) System Screen Shots and recalculation |
| Payment extension | Number of Extensions | System Screen Shots |
| Current delinquency status | Account Status | System Screen Shots |

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**Exhibit 1 to Attachment A**<br> Page 2 of 3<br>

**<u>Notes</u>:** 

i. The account number Sample Characteristic is for identification purposes only.

ii. For the purpose of comparing the origination date Sample Characteristic, the Sponsor, on behalf of the
Depositor, instructed us to ignore differences of +/- one day or less.

iii. The Sponsor, on behalf of the Depositor, indicated that certain of the System Screen Shots contained account
activity that occurred after the Preliminary Cut-off Date. For the purpose of comparing the next payment due date, current principal balance, maturity date, approval type, remaining term to maturity, payment
extension and current delinquency status Sample Characteristics, the Sponsor, on behalf of the Depositor, instructed us to only consider account activity that occurred on or prior to the Preliminary Cut-off Date.

iv. For the purpose of comparing the FICO score Sample Characteristic for each Sample Receivable (except for Sample
Receivable Numbers 13, 22, 26, 27, 28, 40, 67, 68, 77, 81, 83, 87, 88, 94, 112 and 123), the Sponsor, on behalf of the Depositor, instructed us to use the bureau score value, as shown in the System Screen Shots.

For the purpose of comparing the FICO score Sample Characteristic for Sample Receivable Numbers 13 and 22, the Sponsor, on behalf of the Depositor, instructed us to use the co<sub>-</sub>applicant bureau score value, as shown in the System Screen Shots.

For the purpose of comparing the FICO score Sample Characteristic for Sample Receivable Numbers 26, 27, 28, 40, 67, 68, 77, 81, 83, 87, 88, 94, 112 and 123, the Sponsor, on behalf of the Depositor, instructed us to use the borrower credit bureau score value, as shown in the System Screen Shots.

v. For the purpose of comparing the approval type Sample Characteristic for each Sample Receivable with an
approval type value of "Y," as shown on the Preliminary Data File, the Sponsor, on behalf of the Depositor, instructed us to note agreement if the approval type value, as shown in the System Screen Shots, showed "Auto
Approved."

For the purpose of comparing the approval type Sample Characteristic for each Sample Receivable with an approval type value of "N," as shown on the Preliminary Data File, the Sponsor, on behalf of the Depositor, instructed us to use the System Screen Shots as the Source Document in accordance with the Approval Type Methodology.

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**Exhibit 1 to Attachment A**<br> Page 3 of 3<br>

vi. For the purpose of comparing the new or used Sample Characteristic, the Sponsor, on behalf of the Depositor,
instructed us to note agreement if the new or used value, as shown on the Preliminary Data File, agreed with the corresponding new or used value, as shown in the Contract, in accordance with the decode table shown below:

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| | |
|:---|:---|
| **Preliminary Data File Value** | **Contract Value** |
| N | New |
| NN | Used or CERT |

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vii. For the purpose of comparing the original first payment date Sample Characteristic for each Sample Receivable
(except for Sample Receivable Numbers 30 and 31), the Sponsor, on behalf of the Depositor, instructed us to use the Contract as the Source Document.

For the purpose of comparing the original first payment date Sample Characteristic for Sample Receivable Numbers 30 and 31, the Sponsor, on behalf of the Depositor, instructed us to use the System Screen Shots as the Source Document.

viii. For the purpose of comparing the remaining term to maturity Sample Characteristic, the Sponsor, on behalf of
the Depositor, instructed us to recalculate the remaining term to maturity by subtracting the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Number of payments made value, as shown in, or as determined using information as shown in the System Screen
Shots, from

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Number of scheduled payments value, as shown in the Contract.

ix. For the purpose of comparing the grace period Sample Characteristic, the Sponsor, on behalf of the Depositor,
instructed us to recalculate the grace period as the difference in months between the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Original first payment date, as shown in the Contract or System Screen Shots, as applicable, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Origination date, as shown in the System Screen Shots.

x. For the purpose of comparing the current delinquency status Sample Characteristic, the Sponsor, on behalf of
the Depositor, instructed us to note agreement with a current delinquency status value of "0," as shown on the Preliminary Data File, if the days delinquent value, as shown in the System Screen Shots, was less than 30 days as of the
Preliminary Cut<sub> - </sub>off Date.

We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by the Sponsor, on behalf of the Depositor, described in the notes above.

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**Exhibit 2 to Attachment A**

**<u>Sample Characteristic Differences</u>**

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| | | | |
|:---|:---|:---|:---|
| **Sample**<br> **Receivable Number** | **Sample Characteristic** | **Preliminary**<br> **Data File Value** | **Source**<br> **Document Value** |
| 38 | Next payment due date | 10/20/2025 | 9/20/2025 |
|  | Remaining term to maturity | 56 | 57 |

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