Two subprime auto deals for a combined $477 million are slated to close next week, according to pre-sales from Standard & Poor’s.

The originators are Westlake Services and DriveTime Car Sales. Westlake’s deal is a $245.5-million-dollar securitization being lead by Royal Bank of Scotland (RBS). The closing date is scheduled for Sept. 25.

The deal consists of four tranches: a one-year, A-1 piece for $95.7 million, rated ‘A-1+ (sf)”; a $104.3-million A-2 piece rated ‘AAA (sf)’ with a legal final tenor slightly beyond four years; a $17.9-million B tranche rated ‘AA (sf)’ with a legal final tenor slightly beyond four years; and a $27.6-million C tranche rated ‘A (sf)’ and maturing in a bit over five years. Westlake is retaining the B and C tranches.

The A series have a subordination of 16.6% of the initial receivables.

The deal is Westlake’s fourth term asset-backed. The pool in the upcoming deal consists of 35,557 loans with an average principal balance of $7,727 and a weighted average FICO score for borrowers of 579. The score is a touch higher than that of Westlake’s 2012-1 and 2011-1 deals.

Also revving up its engines is a $231.9-million subprime auto deal from DriveTime Car Sales. Leading that deal are RBS, Wells Fargo Securities, and Deutsche Bank.

DriveTime’s series 2013-2 has four tranches: a $112.1-million A piece rated ‘AAA (sf)’; a $35.6-million B one rated ‘AA (sf)’; $29.4-million in C notes rated ‘A (sf)’; and a $54.9-million D tranche rated ‘BBB (sf).’

The deal is expected to close Sept. 26. The pool in series 2013-2 consists of 19,914 loans with a combined nominal value of $300 million. The weighted average FICO score is 534, three points higher than DriveTime’s 2013-1 deal.

DriveTime’s last deal priced in June.

The firm was formerly known as Ugly Duckling Corp.

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