If borrowers relating to the underlying loans are late in making payments or default on their obligation to repay their loan, including as a result of deteriorating macroeconomic conditions, the ABS trustee will suffer a loss of income. If total losses exceed the level of excess spread in any period then the 2022 Auto G-Notes may not receive some or all of the interest due and some or all of the 2022 Auto G-Notes principal balance may be charged-off, which may lead to you suffering financial loss.