Ford Credit Auto Owner Trust 2024-A
11/21/2024 | Press release | Distributed by Public on 11/21/2024 08:23
Asset Backed Issuer Distribution Report Form 10 D
Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 8 |
Additional information about the structure, cashflows, defined terms and parties for this transaction can be found in the prospectus, available on the SEC website (http://www.sec.gov) under the registration number 333-258040 and at https://www.ford.com/finance/investor-center/asset-backed-securitization.
I. ORIGINAL DEAL PARAMETERS
| Dollar Amount | # of Receivables | Weighted Avg Remaining Term at Cutoff | ||||
| Initial Pool Balance | $ | 1,696,683,364.30 | 46,551 | 55.8 months | ||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | ||||
| Original Securities | ||||||
| Class A-1 Notes | $ | 305,000,000.00 | 5.524 | % | April 15, 2025 | |
| Class A-2a Notes | $ | 150,000,000.00 | 5.32 | % | January 15, 2027 | |
| Class A-2b Notes | $ | 410,000,000.00 | 5.36981 | % | * | January 15, 2027 |
| Class A-3 Notes | $ | 560,000,000.00 | 5.09 | % | December 15, 2028 | |
| Class A-4 Notes | $ | 75,000,000.00 | 5.01 | % | September 15, 2029 | |
| Class B Notes | $ | 47,350,000.00 | 5.26 | % | November 15, 2029 | |
| Class C Notes | $ | 31,560,000.00 | 0.00 | % | September 15, 2031 | |
| Total | $ | 1,578,910,000.00 | ||||
| * 30-day average SOFR + 0.36% |
II. AVAILABLE FUNDS
| Interest: | ||
| Interest Collections | $ | 5,468,002.22 |
| Principal: | ||
| Principal Collections | $ | 31,003,784.10 |
| Prepayments in Full | $ | 15,186,038.93 |
| Liquidation Proceeds | $ | 450,796.66 |
| Recoveries | $ | 18,634.13 |
| Sub Total | $ | 46,659,253.82 |
| Collections | $ | 52,127,256.04 |
| Purchase Amounts: | ||
| Purchase Amounts Related to Principal | $ | 55,732.40 |
| Purchase Amounts Related to Interest | $ | 290.20 |
| Sub Total | $ | 56,022.60 |
| Clean-up Call | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Available Funds - Total | $ | 52,183,278.64 |
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Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 8 |
III. DISTRIBUTIONS
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | ||||||
| Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 52,183,278.64 |
| Servicing Fee | $ | 1,125,630.74 | $ | 1,125,630.74 | $ | 0.00 | $ | 0.00 | $ | 51,057,647.90 |
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 51,057,647.90 |
| Interest - Class A-2a Notes | $ | 628,497.13 | $ | 628,497.13 | $ | 0.00 | $ | 0.00 | $ | 50,429,150.77 |
| Interest - Class A-2b Notes | $ | 1,791,775.62 | $ | 1,791,775.62 | $ | 0.00 | $ | 0.00 | $ | 48,637,375.15 |
| Interest - Class A-3 Notes | $ | 2,375,333.33 | $ | 2,375,333.33 | $ | 0.00 | $ | 0.00 | $ | 46,262,041.82 |
| Interest - Class A-4 Notes | $ | 313,125.00 | $ | 313,125.00 | $ | 0.00 | $ | 0.00 | $ | 45,948,916.82 |
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,948,916.82 |
| Interest - Class B Notes | $ | 207,550.83 | $ | 207,550.83 | $ | 0.00 | $ | 0.00 | $ | 45,741,365.99 |
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,741,365.99 |
| Interest - Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,741,365.99 |
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,741,365.99 |
| Regular Principal Payment | $ | 72,784,791.61 | $ | 45,741,365.99 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Residual Released to Depositor | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 52,183,278.64 | ||||||||
| Principal Payment: | ||||||||||
| First Priority Principal Payment | $ | 0.00 | ||||||||
| Second Priority Principal Payment | $ | 0.00 | ||||||||
| Regular Principal Payment | $ | 45,741,365.99 | ||||||||
| Total | $ | 45,741,365.99 | ||||||||
IV. NOTEHOLDER PAYMENTS
| Noteholder Principal Payments | Noteholder Interest Payments | Total Payment | ||||||||||
| Per $1,000 of | Per $1,000 of | Per $1,000 of | ||||||||||
| Actual | Original Balance | Actual | Original Balance | Actual | Original Balance | |||||||
| Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Class A-2a Notes | $ | 12,252,151.60 | $ | 81.68 | $ | 628,497.13 | $ | 4.19 | $ | 12,880,648.73 | $ | 85.87 |
| Class A-2b Notes | $ | 33,489,214.39 | $ | 81.68 | $ | 1,791,775.62 | $ | 4.37 | $ | 35,280,990.01 | $ | 86.05 |
| Class A-3 Notes | $ | 0.00 | $ | 0.00 | $ | 2,375,333.33 | $ | 4.24 | $ | 2,375,333.33 | $ | 4.24 |
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 313,125.00 | $ | 4.18 | $ | 313,125.00 | $ | 4.18 |
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 207,550.83 | $ | 4.38 | $ | 207,550.83 | $ | 4.38 |
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 45,741,365.99 | $ | 28.97 | $ | 5,316,281.91 | $ | 3.37 | $ | 51,057,647.90 | $ | 32.34 |
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Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 8 |
V. NOTE BALANCE AND POOL INFORMATION
| Beginning of Period | End of Period | |||||
| Balance | Note Factor | Balance | Note Factor | |||
| Class A-1 Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 |
| Class A-2a Notes | $ | 141,766,270.12 | 0.9451085 | $ | 129,514,118.52 | 0.8634275 |
| Class A-2b Notes | $ | 387,494,471.68 | 0.9451085 | $ | 354,005,257.29 | 0.8634275 |
| Class A-3 Notes | $ | 560,000,000.00 | 1.0000000 | $ | 560,000,000.00 | 1.0000000 |
| Class A-4 Notes | $ | 75,000,000.00 | 1.0000000 | $ | 75,000,000.00 | 1.0000000 |
| Class B Notes | $ | 47,350,000.00 | 1.0000000 | $ | 47,350,000.00 | 1.0000000 |
| Class C Notes | $ | 31,560,000.00 | 1.0000000 | $ | 31,560,000.00 | 1.0000000 |
| Total | $ | 1,243,170,741.80 | 0.7873601 | $ | 1,197,429,375.81 | 0.7583899 |
| Pool Information | ||||
| Weighted Average APR | 4.872 | % | 4.884 | % |
| Weighted Average Remaining Term | 50.44 | 49.67 | ||
| Number of Receivables Outstanding | 40,636 | 39,769 | ||
| Pool Balance | $ | 1,350,756,893.56 | $ | 1,303,562,229.65 |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 1,261,108,816.34 | $ | 1,217,570,378.81 |
| Pool Factor | 0.7961161 | 0.7683002 | ||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,947,285.02 |
| Yield Supplement Overcollateralization Amount | $ | 85,991,850.84 |
| Targeted Overcollateralization Amount | $ | 133,176,279.46 |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 106,132,853.84 |
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 3,947,285.02 |
| Reserve Account Deposits Made | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Ending Reserve Account Balance | $ | 3,947,285.02 |
| Change in Reserve Account Balance | $ | 0.00 |
| Specified Reserve Balance | $ | 3,947,285.02 |
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Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 8 |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||
| Current Collection Period Loss: | |||||
| Realized Loss (Charge-Offs) | 88 | $ | 498,311.82 | ||
| (Recoveries) | 4 | $ | 18,634.13 | ||
| Net Loss for Current Collection Period | $ | 479,677.69 | |||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.4261 | % | |||
| Prior and Current Collection Periods Average Loss: | |||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||
| Third Prior Collection Period | 0.3442 | % | |||
| Second Prior Collection Period | 0.3921 | % | |||
| Prior Collection Period | 0.2388 | % | |||
| Current Collection Period | 0.4337 | % | |||
| Four Month Average (Current and Prior Three Collection Periods) | 0.3522 | % | |||
| Cumulative Loss: | |||||
| Cumulative Realized Loss (Charge-Offs) | 544 | $ | 1,818,576.49 | ||
| (Cumulative Recoveries) | $ | 37,711.47 | |||
| Cumulative Net Loss for All Collection Periods | $ | 1,780,865.02 | |||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.1050 | % | |||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 3,342.97 | |||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 3,273.65 | |||
| % of EOP Pool Balance | # of Receivables | Amount | |||
| Delinquent Receivables: | |||||
| 31-60 Days Delinquent | 0.57 | % | 193 | $ | 7,454,397.01 |
| 61-90 Days Delinquent | 0.12 | % | 36 | $ | 1,595,995.45 |
| 91-120 Days Delinquent | 0.02 | % | 5 | $ | 269,257.20 |
| Over 120 Days Delinquent | 0.02 | % | 5 | $ | 319,502.54 |
| Total Delinquent Receivables | 0.74 | % | 239 | $ | 9,639,152.20 |
| Repossession Inventory: | |||||
| Repossessed in the Current Collection Period | 15 | $ | 571,418.99 | ||
| Total Repossessed Inventory | 24 | $ | 967,944.45 | ||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||
| Second Prior Collection Period | 0.0842 | % | |||
| Prior Collection Period | 0.0886 | % | |||
| Current Collection Period | 0.1157 | % | |||
| Three Month Average | 0.0962 | % | |||
| Delinquency Trigger (61+ Delinquent Receivables) | |||||
| Transaction Month | Trigger | ||||
| 1-12 | 0.80% | ||||
| 13-24 | 1.30% | ||||
| 25-36 | 2.40% | ||||
| 37+ | 4.75% | ||||
| 61+ Delinquent Receivables Balance to EOP Pool Balance | 0.1676 | % | |||
| Delinquency Trigger Occurred | No |
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Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| Collection Period | October 2024 |
| Payment Date | 11/15/2024 |
| Transaction Month | 8 |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| 1 Month Extended | 100 | $4,877,593.77 |
| 2 Months Extended | 181 | $8,479,466.97 |
| 3+ Months Extended | 28 | $1,233,798.40 |
| Total Receivables Extended | 309 | $14,590,859.14 |
IX. REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
| No Activity to report |
| Most Recent Form ABS-15G for repurchase demand activity |
| Filed by: Ford Motor Credit Company LLC |
| CIK#: 0000038009 |
| Date: February 5, 2024 |
X. FLOATING RATE BENCHMARK: BENCHMARK TRANSITION
| Benchmark Transition Event: | N/A |
| Benchmark Replacement Date: | N/A |
| Unadjusted Benchmark Replacement: | N/A |
| Benchmark Replacement Adjustment: | N/A |
| Benchmark Replacement Conforming Changes: | N/A |
SERVICER CERTIFICATION
THIS REPORT IS ACCURATE IN ALL MATERIAL RESPECTS.
Ford Motor Credit Company LLC
/s/ Ryan M. Hershberger
Assistant Treasurer
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