# Auto Credit Intelligence · The Market

the below-prime index and the band series from the deal tapes.

Live page: https://getbookiq.com/intel/#market

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One picture of what is actually moving, built from every loan on every tape in this room and aggregated the way the public segment trackers do it: prime against subprime, balance-weighted, by calendar month. The difference is that these lines decompose. Every aggregate here can be opened to the deal, the month, and the bucket migration underneath it. Coverage right now: 10 subprime and 19 prime deal(s) on tape in the latest month; the lines describe the deals on tape, not the whole market, and they will thicken as shelves are added.
THE LATEST MONTH, SIDE BY SIDE
SUBPRIME 60+, REPORTED
8.10%
SUBPRIME 60+, EXT-ADJUSTED
24.93%
PRIME 60+, REPORTED
0.73%
PRIME 60+, EXT-ADJUSTED
1.46%
SUBPRIME EXTENSION STOCK
18.95%
PRIME EXTENSION STOCK
0.75%
SUBPRIME CO, 3M ANN.
9.49%
PRIME CO, 3M ANN.
1.06%
SUBPRIME CURRENT-TO-30+ ROLL
7.68%
PRIME CURRENT-TO-30+ ROLL
1.04%
THE SPREAD THAT TELLS THE STORY
60+ DELINQUENCY, REPORTED: SUBPRIME (AMBER) VS PRIME (BLUE)
0.0
3.1
6.1
9.2
21-01
22-04
23-07
24-10
25-11
26-07
SUBPRIME 60+: REPORTED (AMBER) VS EXTENSION-ADJUSTED (RED)
0.0
9.7
19.5
29.2
21-01
22-03
23-05
24-07
25-09
26-07
EXTENSION STOCK, TRAILING 6M SHARE OF POOL
0.0
7.8
15.6
23.4
21-01
22-04
23-07
24-10
25-11
26-07
NET CHARGE-OFFS, 3-MONTH ROLLING ANNUALIZED %
0.0
3.6
7.2
10.9
21-01
22-04
23-07
24-10
25-11
26-07
CURRENT-TO-30+ MONTHLY ROLL, MEDIAN DEAL %
0.0
3.1
6.2
9.2
21-02
22-05
23-08
24-11
25-11
26-07
BALANCE IN REPOSSESSION, % OF POOL
0.0
0.3
0.6
0.9
21-01
22-04
23-07
24-10
25-11
26-07
UNDERWRITING DRIFT: FIRST VS LATEST ORIGINATION COHORT PER DEAL
Weighted average original term, share of origination balance over 72 months, score and loan size, each loan counted once at first appearance. A securitized pool is a selected slice, so this is drift in what was securitized; it usually tracks what was originated but is not identical to it.
DEAL	TIER	COHORTS	WA TERM, MO	OVER 72MO	WA SCORE	WA LOAN SIZE
ALLYA-2022-1	prime	2015 → 2022	85.3 → 70.1	100% → 72%	726 → 713	$40K → $27K
ALLYA-2023-1	prime	2017 → 2023	76.8 → 70.3	100% → 73%	709 → 734	$32K → $26K
ALLYA-2024-1	prime	2017 → 2023	83.1 → 71.1	100% → 76%	717 → 738	$39K → $27K
ALLYA-2025-1	prime	2018 → 2025	83.6 → 71.4	100% → 80%	701 → 746	$40K → $27K
AMCAR-2021-1	subprime	2015 → 2020	73.3 → 72.8	98% → 92%	576 → 589	$23K → $24K
AMCAR-2023-1	subprime	2019 → 2022	84.2 → 74.6	100% → 93%	575 → 592	$30K → $29K
AMCAR-2024-1	subprime	2018 → 2024	74.2 → 75.9	100% → 93%	584 → 589	$24K → $28K
BLAST-2025-1	subprime	2019 → 2024	69.6 → 70.8	0% → 0%	554 → 551	$19K → $23K
CARMX-2021-1	prime	2015 → 2020	72.7 → 67.7	91% → 49%	657 → 712	$22K → $20K
CARMX-2022-1	prime	2016 → 2021	71.1 → 67.0	38% → 23%	684 → 708	$21K → $25K
CARMX-2023-1	prime	2017 → 2022	71.6 → 66.6	42% → 21%	691 → 716	$21K → $27K
CARMX-2024-1	prime	2018 → 2023	71.4 → 65.4	41% → 17%	701 → 722	$21K → $25K
CARMX-2025-1	prime	2019 → 2024	71.4 → 66.5	45% → 22%	737 → 760	$22K → $24K
CRVNA-2021-P1	prime	2020 → 2021	69.6 → 69.7	8% → 9%	709 → 707	$20K → $20K
CRVNA-2022-P1	prime	2021 → 2022	70.9 → 70.8	11% → 12%	694 → 706	$25K → $26K
CRVNA-2024-P2	prime	2022 → 2024	71.9 → 72.3	30% → 45%	725 → 702	$25K → $25K
CRVNA-2025-P1	prime	2024 → 2025	72.1 → 72.6	36% → 49%	698 → 703	$22K → $25K
EART-2022-1	subprime	2016 → 2022	72.9 → 73.6	95% → 91%	517 → 554	$19K → $23K
EART-2023-1	subprime	2017 → 2023	73.0 → 74.1	95% → 86%	500 → 588	$19K → $20K
EART-2024-1	subprime	2018 → 2023	72.5 → 74.7	91% → 91%	514 → 591	$19K → $21K
EART-2025-1	subprime	2019 → 2025	72.8 → 75.1	93% → 88%	488 → 610	$19K → $22K
FORDO-2022-A	prime	2016 → 2021	73.4 → 65.4	97% → 51%	726 → 634	$34K → $42K
FORDO-2025-A	prime	2019 → 2025	73.8 → 66.1	100% → 51%	725 → 573	$42K → $53K
GMCAR-2021-1	prime	2015 → 2020	73.9 → 71.7	99% → 81%	725 → 770	$44K → $34K
GMCAR-2024-1	prime	2020 → 2023	84.2 → 68.3	98% → 62%	776 → 780	$44K → $41K
GMCAR-2025-1	prime	2020 → 2024	83.8 → 69.3	98% → 71%	782 → 776	$42K → $39K
HAROT-2022-1	prime	2016 → 2021	73.4 → 62.6	99% → 21%	709 → 778	$28K → $28K
HAROT-2025-1	prime	2019 → 2024	73.5 → 60.8	100% → 36%	731 → 774	$30K → $31K
HART-2022-A	prime	2017 → 2021	73.4 → 67.1	92% → 49%	718 → 757	$28K → $28K
HART-2025-A	prime	2020 → 2024	79.9 → 72.2	99% → 91%	748 → 760	$30K → $35K
NAROT-2022-A	prime	2016 → 2021	72.9 → 65.7	61% → 29%	802 → 782	$30K → $29K
NAROT-2025-A	prime	2019 → 2024	72.5 → 61.9	42% → 21%	774 → 795	$32K → $32K
SDART-2021-1	subprime	2015 → 2020	72.5 → 71.0	19% → 15%	541 → 567	$23K → $24K
SDART-2022-1	subprime	2016 → 2021	72.4 → 71.1	15% → 16%	581 → 570	$23K → $27K
SDART-2023-6	subprime	2018 → 2023	72.6 → 71.7	20% → 18%	634 → 536	$25K → $28K
SDART-2024-1	subprime	2017 → 2023	74.0 → 71.6	67% → 20%	698 → 540	$40K → $28K
SDART-2025-1	subprime	2019 → 2024	72.7 → 71.5	23% → 21%	629 → 522	$31K → $27K
TAOT-2022-A	prime	2016 → 2021	73.4 → 67.0	98% → 51%	767 → 764	$28K → $30K
TAOT-2025-A	prime	2019 → 2024	73.4 → 66.1	98% → 52%	760 → 774	$32K → $37K
VALET-2025-1	prime	2019 → 2024	70.1 → 65.0	0% → 3%	772 → 776	$33K → $36K
WOART-2021-A	prime	2015 → 2020	74.6 → 71.2	97% → 73%	704 → 747	$29K → $32K
WOART-2022-A	prime	2017 → 2021	73.3 → 70.2	87% → 72%	752 → 741	$29K → $33K
WOART-2024-A	prime	2019 → 2023	74.3 → 68.6	91% → 70%	730 → 754	$36K → $36K
WOART-2025-A	prime	2019 → 2024	74.9 → 69.2	97% → 74%	744 → 750	$31K → $38K
Reading order for the charts: the first shows the level gap between tiers. The second shows that in subprime the reported line and the extension-adjusted line are different curves, which is the masking finding. The third shows the tool doing the masking. The fourth shows losses catching up on a lag. The fifth is the earliest signal in the set: the monthly roll out of current, which extensions cannot flatter for long because re-rolled loans come straight back through it.