# EDGAR Filing Document

**Accession Number:** 0001178049
**File Stem:** 0001193125-25-216966
**Filing Date:** 2025-9
**Character Count:** 21616
**Document Hash:** 9465a8f62e486a86cd8a7ffbd405881a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-216966.hdr.sgml**: 20250925

**ACCESSION NUMBER**: 0001193125-25-216966

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

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250925

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

**FILED AS OF DATE**: 20250925

**DATE AS OF CHANGE**: 20250925

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Auto loans

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** USAA ACCEPTANCE LLC
- **CENTRAL INDEX KEY:** 0001178049
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-02049
- **FILM NUMBER:** 251342144

**BUSINESS ADDRESS:**
- **STREET 1:** 10750 MCDERMOTT FREEWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78288
- **BUSINESS PHONE:** 2104987479

**MAIL ADDRESS:**
- **STREET 1:** 10750 MCDERMOTT FREEWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78288
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** USAA ACCEPTANCE LLC
- **CENTRAL INDEX KEY:** 0001178049
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 000000000

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

**BUSINESS ADDRESS:**
- **STREET 1:** 10750 MCDERMOTT FREEWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78288
- **BUSINESS PHONE:** 2104987479

**MAIL ADDRESS:**
- **STREET 1:** 10750 MCDERMOTT FREEWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78288
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** USAA ACCEPTANCE LLC
- **CENTRAL INDEX KEY:** 0001178049
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **ORGANIZATION NAME:** Office of Structured Finance
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-02049

**BUSINESS ADDRESS:**
- **STREET 1:** 10750 MCDERMOTT FREEWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78288
- **BUSINESS PHONE:** 2104987479

**MAIL ADDRESS:**
- **STREET 1:** 10750 MCDERMOTT FREEWAY
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78288

**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) ______________** 

**Commission File Number of securitizer: ________________** 

**Central Index Key Number of securitizer: ________________** 

**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)** 

## USAA Auto Owner Trust 2025-A
**(Exact name of issuing entity as specified in its charter)** 

**Central Index Key Number of depositor: 0001178049** 

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

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

**Melissa Jackson, (210) 452-5193** 

**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.

------

**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: September 25, 2025

---

| | |
|:---|:---|
| **USAA Acceptance, LLC** | **USAA Acceptance, LLC** |
| (Depositor) | (Depositor) |
| By: | /s/ Melissa Jackson |
| Name: | Melissa Jackson |
| Title: | President, Treasurer |
|  | (senior officer in charge of securitization) |

---

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**EXHIBIT INDEX** 

---

| | |
|:---|:---|
| **Exhibit 99.1** | [Report of Independent Accountants on Applying Agreed-Upon Procedures, dated September 24, 2025.](d79434dex991.htm) |

---

## Exhibit 99.1

**Exhibit 99.1** 

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| | | |
|:---|:---|:---|
| ![LOGO](g79434g0925035102954.jpg) |  |  |
| ![LOGO](g79434g0925035102954.jpg) | Ernst & Young LLP | Tel: +1 212 773 3000 |
| ![LOGO](g79434g0925035102954.jpg) | One Manhattan West | ey.com |
| ![LOGO](g79434g0925035102954.jpg) | New York, NY 10001 |  |
| ![LOGO](g79434g0925035102954.jpg) |  |  |

---

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

USAA Acceptance, LLC (the "Depositor") 1105 North Market Street, Suite 1300 Wilmington, Delaware 19801 USAA Federal Savings Bank (the "Sponsor") 10750 McDermott Freeway San Antonio, Texas 78288 United Services Automobile Association ("USAA") 9800 Fredericksburg Road San Antonio, Texas 78288 24 September 2025

---

| | |
|:---|:---|
| **Re:** | **USAA Auto Owner Trust 2025-A (the "Issuing Entity")**  |

---

**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, USAA, J.P. Morgan Securities LLC (the "Initial Purchaser"), Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC (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 retail motor vehicle installment loans that are secured by 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](g79434g0925035102954.jpg) | Page 2 of 3 |

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For the purpose of the procedures described in this report, the Sponsor, on behalf of the Depositor, provided us with:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Labeled "USAOT 2025-A Loan List for EY.xlsx" and the
corresponding record layout and decode information, as applicable (the "Receivable Schedule"), that the Sponsor, on behalf of the Depositor, indicated contains a list of account numbers corresponding to certain retail motor vehicle
installment loans that are secured by 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 "Data Tape as of 07.31.25.xlsx" and the corresponding record layout and decode information,
as applicable (the "Preliminary Data File"), that the Sponsor, on behalf of the Depositor, indicated contains information as of 31 July 2025 (the "Preliminary Cut-off Date")
relating to the Preliminary Receivables,

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The note, disclosure and security agreement, addendum to note, disclosure and security agreement, correction
letter, comprehensive signature form or other related documents (collectively and as applicable, the "Contract"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. The loan subvention authorization form, consumer loan application, authorization agreement for preauthorized
loan payments or other related documents (collectively and as applicable, the "Subvention Program Document") and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Certain printed screen shots from the Sponsor's servicing system (the "System Screen Shots"),

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

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

d. 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 the "Subject Matter" as of the date of this report.

The procedures included in Attachment A were limited to comparing, recalculating or observing, as applicable, certain information that is further described in Attachment A. The Depositor is responsible for the Subject Matter, Provided Data Files, Source Documents, 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 Receivable Schedule, Source Documents 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.

------

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| | |
|:---|:---|
| ![LOGO](g79434g0925035102954.jpg) | Page 3 of 3 |

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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.

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

24 September 2025

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| | |
|:---|:---|
| ![LOGO](g79434g0925035102954.jpg) | **Attachment A** |

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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 100 Preliminary
Receivables from the Receivable Schedule (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 Receivable Schedule.

For the purpose of the procedures described in this report, the 100 Sample Receivables are referred to as Sample Receivable Numbers 1 through 100.

2. For each Sample Receivable, as applicable, 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 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. All
such compared information was found to be in agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Observed that the Contract contained a signature or typed electronic signature, as applicable, in the borrower
signature section of such Contract. We performed no procedures to determine the validity of the signature or typed electronic signature, as applicable, contained in the borrower signature section of the Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Observed that the Contract contained truth-in-lending disclosure information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Observed that the System Screen Shots contained a lien status code value of "3," which the Sponsor,
on behalf of the Depositor, indicated is evidence:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Of a lien status of "lien perfected" and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) That the Sponsor or USAA was the lien holder.

We performed no procedures to determine the validity of the lien status code in the System Screen Shots.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Observed, as applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The existence of a Subvention Program Document if the PCD_SUBVENTION1 ("subvention") value was
"CBSS" or "NCPO," as shown on the Preliminary Data File, or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) That the System Screen Shots contained an Auto DR value of "Y" if the subvention value was
"ACH," as shown on the Preliminary Data File.

------

**Exhibit 1 to Attachment A**<br> Page 1 of 2<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 | PCD_ACCT_NBR | Contract |
| Borrower state | PCD_CUST_STATE | Contract or System Screen Shots |
| Maturity date | PCD_CURR_MAT_DATE | Contract or System Screen Shots |
| APR | PCD_APR | Contract |
| Original loan principal balance | PCD_ORIG_AMT_FIN | Contract |
| Original loan term | PCD_CURR_ORIG_TERM | (a) Contract,<br> (b) Contract and recalculation or<br> (c) System Screen Shots |
| New/used vehicle collateral status | PCD_NEW_USED | System Screen Shots |
| Current credit score | PCD_CREDIT_SCORE_CURR | System Screen Shots |

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

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

ii. For the purpose of comparing the borrower state or maturity date Sample Characteristics, the Sponsor, on behalf
of the Depositor, instructed us to use the System Screen Shots as the Source Document if either the borrower state or maturity date, as shown on the Preliminary Data File, is different than either the borrower state or maturity date, respectively,
as shown in the Contract.

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 borrower state, maturity date and current credit score Sample Characteristics, the Sponsor, on behalf of the
Depositor, instructed us to only consider account activity shown in the System Screen Shots that occurred on or prior to the Preliminary Cut-off Date.

iv. For the purpose of comparing the APR Sample Characteristic, the Sponsor, on behalf of the Depositor, instructed
us to ignore absolute differences of +/- 0.02% or less.

------

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

v. For the purpose of comparing the original loan term Sample Characteristic for each Sample Receivable (except
for Sample Receivable Numbers 18, 45, 47, 65, 67, 77, 88, 91 and 95), the Sponsor, on behalf of the Depositor, instructed us to use the Contract as the Source Document.

For the purpose of comparing the original loan term Sample Characteristic for Sample Receivable Numbers 18, 45, 65, 77, 88 and 91, the Sponsor, on behalf of the Depositor, instructed us to recalculate the original loan term by dividing the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Original loan term, as shown in the Contract, by

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Quotient of 26 and 12.

For the purpose of comparing the original loan term Sample Characteristic for Sample Receivable Numbers 47 and 67, the Sponsor, on behalf of the Depositor, instructed us to recalculate the original loan term by dividing the:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Original loan term, as shown in the Contract, by

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Quotient of 24 and 12.

For the purpose of comparing the original loan term Sample Characteristic for Sample Receivable Number 95, the Sponsor, on behalf of the Depositor, instructed us to use the System Screen Shots as the Source Document.

vi. For the purpose of comparing the new/used vehicle collateral status Sample Characteristic, the Sponsor, on
behalf of the Depositor, instructed us to note agreement if the new/used vehicle collateral status value, as shown on the Preliminary Data File, agreed with the corresponding collateral code value, as shown in the System Screen Shots, in accordance
with the decode table shown below:

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| | |
|:---|:---|
| **Preliminary Data File Value** | **Collateral Code Value** |
| New | 210 |
|  | 211 |
|  | 212 |
| Used |  |
|  | 230 |
|  | 232 |
|  | 233 |
|  | 234 |
|  | 235 |
|  | 236 |
|  | 237 |
|  | 240 |

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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.