{"filing":{"accession_number":"0000929638-26-003642","cik":"0001654238","ticker":null,"company_name":"EFCAR, LLC","form":"8-K","filing_date":"2026-09-28","report_date":"2026-09-28","primary_document":"esart2026-2_8k.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/1654238/000092963826003642/esart2026-2_8k.htm"},"events":[{"id":35382,"run_id":32586,"accession_number":"0000929638-26-003642","anchor_item_number":"1.01","event_type":"ma_activity","event_domain":"operational","is_material":true,"confidence":0.92,"summary":"EFCAR transferred sub-prime automobile loan receivables to a securitization trust structure (Exeter Select Automobile Receivables Trust 2026-2 and Holding Trust) in exchange for beneficial ownership interests, with the Trust issuing approximately $505.1 million in asset-backed notes across eight classes. This constitutes a material disposition of assets and entry into multiple definitive agreements that restructure EFCAR's financial position through securitization, a form of material financial transaction that would affect a reasonable investor's assessment of the company's capital structure and liquidity.","company_name":"EFCAR, LLC","ticker":null,"filing_date":"2026-09-28","form":"8-K","submitted_at":null,"items":[{"id":39415,"accession_number":"0000929638-26-003642","item_number":"1.01","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"The Trust issued $505.1 million in aggregate principal amount of asset-backed notes (Classes A-1 through N) on the Closing Date, September 28, 2026, secured by sub-prime automobile loan receivables. This constitutes creation of a new direct financial obligation through debt issuance, the core event disclosed in Item 1.01. While the filing also documents the underlying securitization structure and related agreements, the material event is the issuance of the Notes themselves.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-09-28T14:45:53.922479+00:00","company_name":"","ticker":null,"filing_date":""}]}],"classifications":[{"id":39415,"accession_number":"0000929638-26-003642","item_number":"1.01","item_title":null,"event_type":"debt_issuance","event_domain":"financial","is_material":true,"confidence":0.95,"reasoning":"The Trust issued $505.1 million in aggregate principal amount of asset-backed notes (Classes A-1 through N) on the Closing Date, September 28, 2026, secured by sub-prime automobile loan receivables. This constitutes creation of a new direct financial obligation through debt issuance, the core event disclosed in Item 1.01. While the filing also documents the underlying securitization structure and related agreements, the material event is the issuance of the Notes themselves.","classifier_version":"claude-haiku-4-5-20251001+prompt-a85dd512","taxonomy_version":"v1.3","classified_at":"2026-09-28T14:45:53.922479+00:00","company_name":"EFCAR, LLC","ticker":null,"filing_date":"2026-09-28"}]}