New prime auto loan securitizations totaling a combined $2.48 billion for Ally Financial and Nissan Motor Acceptance Corp. show that even captives are facing mounting pressures from declining auto sales and slightly deteriorating borrower credit quality.

For Ally’s latest deal, the $1.1 billion Ally Auto Receivables Trusts 2017-4, the weighted average FICO of 737 is the lowest in the company’s securitizations since 2009-A and slightly lower than the company’s previous two deals (738 and 739, respectively).

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.