Thu, Mar 27, 8:06 PM (33 days ago)
**Exeter Automobile Receivables Trust 2024-2 (EFCAR, LLC) - 10-K Summary** **Financial Performance & Condition:** - The filing does not provide specific financial figures for revenue, net income, or operating expenses, as it focuses on regulatory and operational details rather than financial statements. - The trust does not have any voting or non-voting common equity outstanding held by non-affiliates. **Strategic Overview & Market Position:** - Exeter Finance LLC (Exeter) is the sponsor and servicer of the trust, with Citibank, N.A. also participating in servicing. - The trust's asset pool does not have any single obligor representing 10% or more, indicating a diversified portfolio. - Exeter is subject to various consumer claims and litigation, but it believes it has taken prudent steps to mitigate these risks. **Future Outlook & Risk Factors:** - Exeter is involved in reviews, investigations, and proceedings by government and self-regulatory agencies, which could result in substantial penalties. - The trust has no external credit enhancement or derivative instruments supporting payments on the pool assets or issued notes/certificates. - Exeter has provided compliance statements and assessments, with no material instances of noncompliance identified. **Key Filings & Exhibits:** - The filing includes various agreements, certificates, and reports related to the trust's formation, servicing, and compliance. - Exhibits include the Certificate of Formation, Trust Agreement, Indenture, Sale and Servicing Agreement, and compliance reports from Exeter and Citibank. **Ticker:** Not applicable, as the trust does not have securities registered under Section 12(b) of the Act. **Note:** The summary focuses on the provided text, as the full 10-K document was not available. The financial performance section is limited due to the absence of specific financial figures in the given text.