The level of dealer advances is lower than CAC's most recent transaction from October, when more than 90% of the collateral pool was comprised of dealer advances. The pool includes a large number of defaulted loans totaling $148 million, of which CAC attempts to cover through collection activity that involves wholesale auction sales of repossessed vehicles and the use of third-party collection agents (or lawyers) when vehicles sales are insufficient to pay the balance owed. The report from DBRS did not provide collateral details of the vehicles being financed to support the dealer advances, but noted the average used car loan is only $9,165 – less than half the average original loan balances that lie between $17,246 and $20,976 for newer vintage vehicles included in recent deals by subprime lenders Flagship Credit Acceptance, Santander Consumer USA, AmeriCredit and First Investors. The Class A notes are supported by initial credit enhancement of 61.2%, slightly lower than the CAALT 2016-3's level of 64.1%.