UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

~~PURSUANT~~Pursuant TOto ~~SECTION~~ Section 13 ORor 15(d) OF ~~THE~~of The Securities Exchange Act of 1934

~~SECURITIES~~Date ~~EXCHANGE~~of ~~ACT~~Report OF(Date ~~1934~~of Earliest Event Reported): October 27, 2025

~~Date~~_________________ ~~of Report (Date of Earliest Event Reported): September 16, 2025~~

Avis Budget Group, Inc.

(Exact ~~name~~Name of ~~registrant~~Registrant as ~~specified~~Specified in its ~~charter~~Charter)

_________________

Delaware	~~001-10308~~	001-10308	~~06-0918165~~	06-0918165
(State or Other jurisdiction of incorporation)	(Commission File Number)		(I.R.S. Employer Identification No.)
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification Number)

379 Interpace Parkway Parsippany, NJ	07054
379 Interpace Parkway		07054
(Address of Principal Executive Offices)	(Zip Code)
Parsippany, NJ
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (973) 496-4700

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):_________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01	CAR	The NASDAQ Global Select Market

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Common Stock, par value $0.01		CAR		The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1 2.0102 ~~Entry~~Results ~~into~~of aOperations ~~Material~~and ~~Definitive~~Financial ~~Agreement~~Condition.

On ~~September 16~~October 27, 2025 ~~(the “Closing Date”)~~, ~~our~~ Avis Budget ~~Rental~~ ~~Car~~Group, ~~Funding~~Inc. (~~AESOP)~~the ~~LLC subsidiary (~~“~~ABRCF~~Company,”) ~~issued $793.2 million of asset-backed securities with a maturity of three years and five years~~“we,” ~~respectively,~~“our” ~~comprised~~or of“us”) ~~$199.0~~reported ~~million~~our ~~aggregate~~third ~~principal~~quarter ~~amount of Series~~ 2025-3 4results.~~17%,~~ ~~Class~~Our Athird ~~notes,~~quarter ~~$29.75 million aggregate principal amount of Series~~ 2025-3 ~~4.46%,~~results ~~Class~~are Bdiscussed ~~notes,~~in ~~$21.25~~detail ~~million~~in ~~aggregate~~the ~~principal~~press ~~amount~~release ofattached ~~Series~~hereto ~~2025-3 4.95%, Class C notes and $33.29 million aggregate principal amount of Series 2025-3 6.42%, Class D notes,~~ as ~~well as $358~~Exhibit 99.2 million aggregate principal amount of Series 2025-4 4.40%, Class A notes, $53.55 million aggregate principal amount of Series 2025-4 4.77%, Class B notes, $38.25 million aggregate principal amount of Series 2025-4 5.26%, Class C notes and $59.92 million aggregate principal amount of Series 2025-4 6.72%, Class D notes. The Class D notes were retained by ABRCF and may be sold on a future date. ABRCF also issued $15.6 million aggregate principal amount of Series 2025-3 8.373%, Class R notes and $28.1 ~~million aggregate principal amount of Series 2025-4 8.685%~~, ~~Class~~ ~~R notes, each of~~ which ~~are~~is ~~subordinated~~incorporated toherein the Class A notes, the Class B notes, the Class C notes and the Class D notes of the respective Series, and which were issued to comply with applicable U.S. risk retention rules. The Class R notes are held by ~~our AESOP Leasing L~~reference.P. subsidiary. The notes were issued under the Series 2025-3 Supplement, dated as of the Closing Date, between ABRCF and The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2025-3 Agent (the “Series 2025-3 Supplement”), to the Second Amended and Restated Base Indenture, dated as of June 3, 2004 (as amended, the “Base Indenture”) and the Series 2025-4 Supplement, dated as of the Closing Date, between ABRCF and The Bank of New York Mellon Trust Company, N.A., as trustee and Series 2025-4 Agent (the “Series 2025-4 Supplement”), to the Base Indenture, respectively.

The ~~notes~~information ~~are~~in ~~secured~~this ~~under~~Item ~~the~~2.02, ~~Base~~including ~~Indenture~~Exhibit 99.1, byshall ~~vehicles~~not inbe ~~our domestic~~deemed ~~fleet~~“filed” ~~and~~for ~~other~~purposes ~~related~~of ~~assets.~~Section ~~The~~18 ~~foregoing summary~~ of the ~~notes~~Securities isExchange ~~qualified~~Act inof ~~its~~1934, ~~entirety~~as byamended ~~reference~~(the to“Exchange ~~the~~Act”) ~~full~~or ~~text of~~incorporated ~~the~~by ~~Series~~reference ~~2025-3~~into ~~Supplement,~~any aother ~~copy~~filing ofunder ~~which~~the isSecurities ~~attached~~Act ~~hereto~~of 1933, as ~~Exhibit 10.1~~amended, ~~and~~or the ~~Series~~Exchange ~~2025-4 Supplement~~Act, aexcept ~~copy of which is attached hereto~~ as ~~Exhibit~~expressly ~~10.2,~~set ~~each~~forth ofby ~~which~~specific isreference ~~incorporated~~in bysuch ~~reference~~a ~~herein~~filing.

Certain purchasers of the notes, the trustee and their respective affiliates have performed, and may in the future perform, various commercial banking, investment banking and other financial advisory services for us and our subsidiaries for which they have received, and will receive, customary fees and expenses.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information described above under Item 1.01 of this report is incorporated into this Item 2.03 by reference.

Item 9.01 Financial Statements and Exhibits.

~~The~~(d) ~~following~~Exhibits. ~~exhibits are filed as part of this report:~~

Exhibit No.	~~Description~~	Description
10.1	Series 2025-3 Supplement, dated as of September 16, 2025, between Avis Budget Group, Inc. and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2025-3 Agent.
99.1		Press Release dated October 27, 2025.
10.2	Series 2025-4 Supplement, dated as of September 16, 2025, between Avis Budget Group, Inc. and The Bank of New York Mellon Trust Company, N.A., as trustee and as Series 2025-4 Agent.
104		Cover Page Interactive Data File (embedded within the inline XBRL document).
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned ~~hereto~~hereunto duly authorized.

AVIS BUDGET GROUP, INC. By: /s/ ~~Jean~~Cathleen M.DeGenova ~~Sera~~Cathleen ~~Name:~~DeGenovaSenior ~~Jean M. Sera Title: Senior~~ Vice President, ~~General~~and ~~Counsel,~~ Chief ~~Compliance~~Accounting Officer ~~and Corporate Secretary~~

Date: ~~September 19~~October 27, 2025

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