CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2022-1
Statement to Securityholders
Determination Date: August 12, 2024
|
Payment Date
|
8/15/2024
|
Collection Period Start
|
7/1/2024
|
Collection Period End
|
7/31/2024
|
Interest Period Start
|
7/15/2024
|
Interest Period End
|
8/14/2024
|
|
Cut-Off Date Net Pool Balance
|
$
|
2,025,808,403.15
|
Cut-Off Date Adjusted Pool Balance
|
$
|
1,899,077,623.74
|
I. DEAL SUMMARY
|
Beginning Note
Balance
|
Principal Payment
|
Ending Note Balance
|
Note Factor
|
Final Scheduled Payment Date
|
Class A-1 Notes
|
$
|
-
|
$
|
-
|
$
|
-
|
-
|
May-23
|
Class A-2 Notes
|
$
|
-
|
$
|
-
|
$
|
-
|
-
|
Jun-25
|
Class A-3 Notes
|
$
|
517,080,647.57
|
$
|
34,456,361.01
|
$
|
482,624,286.56
|
0.727732
|
Apr-27
|
Class A-4 Notes
|
$
|
150,730,000.00
|
$
|
-
|
$
|
150,730,000.00
|
1.000000
|
Sep-27
|
Class B Notes
|
$
|
18,990,000.00
|
$
|
-
|
$
|
18,990,000.00
|
1.000000
|
Oct-27
|
Class C Notes
|
$
|
18,990,000.00
|
$
|
-
|
$
|
18,990,000.00
|
1.000000
|
Dec-27
|
Class D Notes
|
$
|
18,980,000.00
|
$
|
-
|
$
|
18,980,000.00
|
1.000000
|
Sep-28
|
Total Notes
|
$
|
724,770,647.57
|
$
|
34,456,361.01
|
$
|
690,314,286.56
|
|
Beginning Balance
|
Ending Balance
|
Pool Factor
|
Net Pool Balance
|
$
|
772,094,121.91
|
$
|
735,341,204.33
|
0.362987
|
YSOC Amount
|
$
|
42,575,780.28
|
$
|
40,279,223.71
|
Adjusted Pool Balance
|
$
|
729,518,341.63
|
$
|
695,061,980.62
|
Overcollateralization Amount (Adjusted Pool Balance - Note Balance)
|
$
|
4,747,694.06
|
$
|
4,747,694.06
|
Reserve Account Balance
|
$
|
4,747,694.06
|
$
|
4,747,694.06
|
|
Beginning Note
Balance
|
Interest Rate
|
Accrual Methodology
|
Interest Payment
|
Class A-1 Notes
|
$
|
-
|
1.40500%
|
ACT/360
|
$
|
-
|
Class A-2 Notes
|
$
|
-
|
2.71000%
|
30/360
|
$
|
-
|
Class A-3 Notes
|
$
|
517,080,647.57
|
3.17000%
|
30/360
|
$
|
1,365,954.71
|
Class A-4 Notes
|
$
|
150,730,000.00
|
3.32000%
|
30/360
|
$
|
417,019.67
|
Class B Notes
|
$
|
18,990,000.00
|
3.59000%
|
30/360
|
$
|
56,811.75
|
Class C Notes
|
$
|
18,990,000.00
|
3.93000%
|
30/360
|
$
|
62,192.25
|
Class D Notes
|
$
|
18,980,000.00
|
4.43000%
|
30/360
|
$
|
70,067.83
|
Total Notes
|
$
|
724,770,647.57
|
$
|
1,972,046.21
|
II. COLLATERAL POOL BALANCE
|
Beginning of Period
|
End of Period
|
Net Pool Balance
|
$
|
772,094,121.91
|
$
|
735,341,204.33
|
Adjusted Pool Balance (Net Pool Balance - YSOC Amount)
|
$
|
729,518,341.63
|
$
|
695,061,980.62
|
Number of Receivables Outstanding
|
58,655
|
57,485
|
Weighted Average Contract Rate
|
3.60
|
%
|
3.60
|
%
|
Weighted Average Remaining Term (months)
|
35.1
|
34.2
|
III. FUNDS AVAILABLE FOR DISTRIBUTION
|
Available Funds:
|
a. Collections
|
Interest Collections
|
$
|
2,345,575.84
|
Principal Collections
|
$
|
36,445,986.85
|
Liquidation Proceeds
|
$
|
239,454.78
|
b. Repurchase Price
|
$
|
-
|
c. Optional Purchase Price
|
$
|
-
|
d. Reserve Account Excess Amount
|
$
|
-
|
Total Available Funds
|
$
|
39,031,017.47
|
Reserve Account Draw Amount
|
$
|
-
|
Total Funds Available for Distribution
|
$
|
39,031,017.47
|
IV. DISTRIBUTION
|
Calculated Amount
|
Amount Paid
|
Shortfall
|
Carryover Shortfall
|
Remaining Available Funds
|
Servicing Fee
|
$
|
643,411.77
|
$
|
643,411.77
|
$
|
-
|
$
|
-
|
$
|
38,387,605.70
|
Interest - Class A-1 Notes
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
38,387,605.70
|
Interest - Class A-2 Notes
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
38,387,605.70
|
Interest - Class A-3 Notes
|
$
|
1,365,954.71
|
$
|
1,365,954.71
|
$
|
-
|
$
|
-
|
$
|
37,021,650.99
|
Interest - Class A-4 Notes
|
$
|
417,019.67
|
$
|
417,019.67
|
$
|
-
|
$
|
-
|
$
|
36,604,631.32
|
First Allocation of Principal
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
36,604,631.32
|
Interest - Class B Notes
|
$
|
56,811.75
|
$
|
56,811.75
|
$
|
-
|
$
|
-
|
$
|
36,547,819.57
|
Second Allocation of Principal
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
36,547,819.57
|
Interest - Class C Notes
|
$
|
62,192.25
|
$
|
62,192.25
|
$
|
-
|
$
|
-
|
$
|
36,485,627.32
|
Third Allocation of Principal
|
$
|
10,728,666.95
|
$
|
10,728,666.95
|
$
|
-
|
$
|
-
|
$
|
25,756,960.37
|
Interest - Class D Notes
|
$
|
70,067.83
|
$
|
70,067.83
|
$
|
-
|
$
|
-
|
$
|
25,686,892.54
|
Fourth Allocation of Principal
|
$
|
18,980,000.00
|
$
|
18,980,000.00
|
$
|
-
|
$
|
-
|
$
|
6,706,892.54
|
Reserve Account Deposit Amount
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
6,706,892.54
|
Regular Principal Distribution Amount
|
$
|
4,747,694.06
|
$
|
4,747,694.06
|
$
|
-
|
$
|
-
|
$
|
1,959,198.48
|
Owner Trustee, Indenture Trustee, and ARR Fees & Expenses
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
1,959,198.48
|
Remaining Funds to Certificates
|
$
|
1,959,198.48
|
$
|
1,959,198.48
|
$
|
-
|
$
|
-
|
$
|
-
|
Total
|
$
|
39,031,017.47
|
$
|
39,031,017.47
|
$
|
-
|
$
|
-
|
V. OVERCOLLATERALIZATION INFORMATION
|
Yield Supplement Overcollateralization Amount:
|
Beginning Period YSOC Amount
|
$
|
42,575,780.28
|
Increase/(Decrease)
|
$
|
(2,296,556.57)
|
Ending YSOC Amount
|
$
|
40,279,223.71
|
|
Overcollateralization:
|
Beginning of Period
|
End of Period
|
Adjusted Pool Balance
|
$
|
729,518,341.63
|
$
|
695,061,980.62
|
Note Balance
|
$
|
724,770,647.57
|
$
|
690,314,286.56
|
Overcollateralization (Adjusted Pool Balance - Note Balance)
|
$
|
4,747,694.06
|
$
|
4,747,694.06
|
Target Overcollateralization Amount
|
$
|
4,747,694.06
|
$
|
4,747,694.06
|
Overcollateralization Shortfall
|
$
|
-
|
$
|
-
|
VI. RESERVE ACCOUNT
|
Specified Reserve Account Balance
|
$
|
4,747,694.06
|
Beginning Reserve Account Balance
|
$
|
4,747,694.06
|
Reserve Account Deposit Amount
|
$
|
-
|
Reserve Account Draw Amount
|
$
|
-
|
Reserve Account Excess Amount
|
$
|
-
|
Ending Reserve Account Balance
|
$
|
4,747,694.06
|
VII. NET LOSS AND DELINQUENT RECEIVABLES
|
Net Loss:
|
% of EOP Net Pool Balance
|
# of Receivables
|
Amount
|
Defaulted Receivables during Collection Period (Principal Balance)
|
0.04%
|
32
|
$
|
306,930.73
|
Liquidation Proceeds of Defaulted Receivables1
|
0.03%
|
164
|
$
|
239,454.78
|
Monthly Net Losses (Liquidation Proceeds)
|
$
|
67,475.95
|
Net Losses as % of Average Pool Balance (annualized)
|
Third Preceding Collection Period
|
0.12
|
%
|
Second Preceding Collection Period
|
0.27
|
%
|
Preceding Collection Period
|
0.17
|
%
|
Current Collection Period
|
0.11
|
%
|
Four-Month Average Net Loss Ratio
|
0.17
|
%
|
Cumulative Net Losses for All Periods
|
$
|
4,223,936.95
|
Cumulative Net Loss Ratio
|
0.21
|
%
|
1 Liquidation Proceeds include all proceeds on a receivable after it has been charged-off.
|
|
Delinquent Receivables:
|
% of EOP Net Pool Balance
|
# of Receivables
|
Principal Balance
|
30-59 Days Delinquent
|
0.39%
|
171
|
$
|
2,876,193.00
|
60-89 Days Delinquent
|
0.12%
|
54
|
$
|
849,580.55
|
90-119 Days Delinquent
|
0.03%
|
14
|
$
|
256,491.67
|
120+ Days Delinquent
|
0.00%
|
0
|
$
|
-
|
Total Delinquent Receivables
|
0.54%
|
239
|
$
|
3,982,265.22
|
|
Repossession Inventory:
|
# of Receivables
|
Principal Balance
|
Repossessed in the Current Collection Period
|
2
|
$
|
25,102.52
|
Total Repossessed Inventory
|
14
|
$
|
263,859.72
|
|
60+ Delinquency Percentage:
|
# of Receivables
|
Amount
|
60+ Day Delinquent Receivables
|
68
|
$
|
1,106,072.22
|
60+ Delinquencies as % of EOP Net Pool Balance
|
Third Preceding Collection Period
|
0.14
|
%
|
Second Preceding Collection Period
|
0.16
|
%
|
Preceding Collection Period
|
0.17
|
%
|
Current Collection Period
|
0.15
|
%
|
Delinquency Trigger
|
4.50
|
%
|
Current Delinquency Percentage Exceeds Delinquency Trigger? (Yes/No)
|
No
|
VIII. TEMPORARY FORBEARANCE
The table below presents accounts which received a short-term payment extension in the month of July 2024.
|
Month-End Balance
|
# of Receivables
|
($MM)
|
(%)
|
(#)
|
(%)
|
Total Extensions
|
0.72
|
0.10%
|
40
|
0.07%
|