Cars Alliance Auto Loans France (V) 2024-1: 25 October 2024

As with previous transactions in the series, the purpose of the Issuer is (a) to be exposed to risks by acquiring from time to time from DIAC (the Seller) receivables arising from fixed rate auto loan agreements granted to certain borrowers in order to finance the purchase either of new cars produced under the brands of the Alliance Renault-Nissan-Mitsubishi or of used cars produced by any car manufacturer and sold by certain car dealers in the commercial networks of the Alliance Renault-Nissan-Mitsubishi in France, and (b) to fund such risks by issuing the Notes and the Residual Units.

Eligibility criteria (includes): is an Auto Loan Agreement, entered into between the Seller and the Borrower, the latter being identified neither as an employee of the Renault Group, nor as a member of the Renault Group's or Nissan's commercial network; the interest rate is fixed; it is neither a Defaulted Receivable, nor a Delinquent Receivable; the payment of the relevant instalments has been set up by direct debit; is amortising on a monthly basis and gives rise to constant monthly instalments; is payable in euro; there has been at least one instalment paid;

The provisional pool of receivables as at 30 September 2024 will consist of 127,651 contracts with an average discounted balance of Eur6,376. Category of loan (by discounted balance); Amortising - 74.3%, Balloon - 25.7%. Obligor type: individual – 98.3%, commercial – 1.7%. Obligor concentration (by discounted balance): top 1 - 0.05%, top 5 - 0.12%, top 20 - 0.20%. Vehicle type : used – 72.4%, new – 27.6%. WA seasoning is 15.7mnths. Regional concentration (by discounted balance): Ile-de-France - 12.8%, Nouvelle-Aquitaine – 12.1%, Provence-Alpes-Côte-dAzur - 11.9%, Hauts-de-France – 10.5% and Auvergne-Rhône-Alpes – 10.3%.

EU Risk Retention: DIAC will retain a material net economic interest of not less than 5% in the securitisation as required by Article 6(1) of the Regulation (EU) 2017/2402 of the European Parliament and, as at the Closing Date, DIAC will meet this obligation by the subscription and full ownership of all the Class C Notes issued by the Issuer.

US Risk Retention: The issuance of the Notes has not been designed to comply with the US Risk Retention Rules other than the exemption under Section 20 of the US Risk Retention Rules.

Compare/contrast: Cars Alliance Auto Loans France (V) 2022-1, Red & Black Auto Loans France 2024