Ally Financial has structured its third nonprime auto loan securitization of the year in a new $750 million asset-backed transaction with slightly enhanced credit quality over its previous deals.

Capital Auto Receivables Asset Trust 2016-3 is a collateralization of loan receivables totaling $769.23 million, from 47,995 loans to near-prime customers with weighted average FICO scores of 634.39 – a slight nudge up from Ally’s previous 13 securitizations, according to a presale report from Standard & Poor’s.

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