Driver France 3 FCT: 29 April 2017

This transaction represents the third issuance under Volkswagen Bank GmbH’s auto loan receivables programme in France and the portfolio consists of a pool of auto loan receivables originated for the purpose of purchasing new and used vehicles.

The portfolio consists of 63,411 loan contracts with an average outstanding discounted balance of Eur7,885. Customer type: retail 97.48%, commercial 2.52%. Customer concentration (by outstanding balances): top 1 – 0.016%, top 5 – 0.078%, top 20 – 0.27%. Type of Car: New 56.76%, Used 43.24%. Credit Type: ClassicCredit 100.0%. WA seasoning is 12.94mnths. Regional concentration (by outstanding balances): ILE-DE-FRANCE 15.70%, PACA 12.99%, RHÔNE-ALPES 11.24% and NORD-PAS-DE-CALAIS 7.08%.


CRR 405: The seller will retain for the life of the transaction a material net economic interest of not less than 5% in the transaction in accordance with Article 405 of Regulation (EU) No 575/2013. As of the Issue Date, such interest will, in accordance with Article 405 paragraph 1 sub-paragraph (c) of the CRR, be comprised of an interest in randomly selected exposures equivalent to no less than 5% of the nominal amount of the securitised exposures.


Compare/contrast: Driver France 2, Bavarian Sky France (French Auto Leases 2)