Core Viewpoint - KBRA has assigned preliminary ratings to seven classes of notes issued by Research-Driven Pagaya Motor Asset Trust 2025-6 and Research-Driven Pagaya Motor Trust 2025-6, indicating a structured approach to evaluating the creditworthiness of this auto loan ABS transaction [1] Summary by Categories Credit Enhancement - RPM 2025-6 features initial credit enhancement levels ranging from 89.26% for Class A-1 notes to 1.86% for Class E notes, highlighting a significant level of protection for investors [1] Structure of Notes - The credit enhancement is composed of overcollateralization, subordination of junior note classes (excluding Class E notes), and a cash reserve, which collectively aim to mitigate risks associated with the underlying auto loans [1]