Two more subprime auto lenders, Westlake Financial Services and Flagship Credit Acceptance, are making their first trips of the year to the securitization market.

The $395.5 million Westlake Automobile Receivables Trust Series 2015-1 benefits from higher initial credit enhancement than the sponsor’s previous deal, and there are also significant differences in the collateral backing the two deals, according to Standard & Poor’s.

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