Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
18
|
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
|
$
|
1,732,167,317.56
|
48,752
|
57.8 months
|
|
Dollar Amount
|
Note Interest Rate
|
Final Scheduled Payment Date
|
Original Securities
|
Class A-1 Notes
|
$
|
300,000,000.00
|
5.028
|
%
|
April 15, 2024
|
Class A-2a Notes
|
$
|
359,000,000.00
|
5.14
|
%
|
March 15, 2026
|
Class A-2b Notes
|
$
|
235,000,000.00
|
6.07353
|
%
|
*
|
March 15, 2026
|
Class A-3 Notes
|
$
|
510,000,000.00
|
4.65
|
%
|
February 15, 2028
|
Class A-4 Notes
|
$
|
96,000,000.00
|
4.56
|
%
|
December 15, 2028
|
Class B Notes
|
$
|
47,330,000.00
|
5.07
|
%
|
January 15, 2029
|
Class C Notes
|
$
|
31,610,000.00
|
5.51
|
%
|
September 15, 2030
|
Total
|
$
|
1,578,940,000.00
|
* 30-day average SOFR + 0.72%
|
II. AVAILABLE FUNDS
|
Interest:
|
Interest Collections
|
$
|
3,960,519.91
|
|
Principal:
|
Principal Collections
|
$
|
24,842,845.34
|
Prepayments in Full
|
$
|
13,178,099.73
|
Liquidation Proceeds
|
$
|
523,676.68
|
Recoveries
|
$
|
88,913.62
|
Sub Total
|
$
|
38,633,535.37
|
Collections
|
$
|
42,594,055.28
|
|
Purchase Amounts:
|
Purchase Amounts Related to Principal
|
$
|
40,834.35
|
Purchase Amounts Related to Interest
|
$
|
495.49
|
Sub Total
|
$
|
41,329.84
|
|
Clean-up Call
|
$
|
0.00
|
|
Reserve Account Draw Amount
|
$
|
0.00
|
|
Available Funds - Total
|
$
|
42,635,385.12
|
Page 1
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
18
|
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
|
$
|
42,635,385.12
|
Servicing Fee
|
$
|
791,096.99
|
$
|
791,096.99
|
$
|
0.00
|
$
|
0.00
|
$
|
41,844,288.13
|
Interest - Class A-1 Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
41,844,288.13
|
Interest - Class A-2a Notes
|
$
|
377,089.64
|
$
|
377,089.64
|
$
|
0.00
|
$
|
0.00
|
$
|
41,467,198.49
|
Interest - Class A-2b Notes
|
$
|
311,117.75
|
$
|
311,117.75
|
$
|
0.00
|
$
|
0.00
|
$
|
41,156,080.74
|
Interest - Class A-3 Notes
|
$
|
1,976,250.00
|
$
|
1,976,250.00
|
$
|
0.00
|
$
|
0.00
|
$
|
39,179,830.74
|
Interest - Class A-4 Notes
|
$
|
364,800.00
|
$
|
364,800.00
|
$
|
0.00
|
$
|
0.00
|
$
|
38,815,030.74
|
First Priority Principal Payment
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
38,815,030.74
|
Interest - Class B Notes
|
$
|
199,969.25
|
$
|
199,969.25
|
$
|
0.00
|
$
|
0.00
|
$
|
38,615,061.49
|
Second Priority Principal Payment
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
38,615,061.49
|
Interest - Class C Notes
|
$
|
145,142.58
|
$
|
145,142.58
|
$
|
0.00
|
$
|
0.00
|
$
|
38,469,918.91
|
Reserve Account Deposit
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
38,469,918.91
|
Regular Principal Payment
|
$
|
34,850,340.30
|
$
|
34,850,340.30
|
$
|
0.00
|
$
|
0.00
|
$
|
3,619,578.61
|
Additional Trustee and Other Fees/Expenses
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
3,619,578.61
|
Residual Released to Depositor
|
$
|
0.00
|
$
|
3,619,578.61
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
Total
|
$
|
42,635,385.12
|
|
Principal Payment:
|
First Priority Principal Payment
|
$
|
0.00
|
Second Priority Principal Payment
|
$
|
0.00
|
Regular Principal Payment
|
$
|
34,850,340.30
|
Total
|
$
|
34,850,340.30
|
|
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
|
$
|
21,062,747.76
|
$
|
58.67
|
$
|
377,089.64
|
$
|
1.05
|
$
|
21,439,837.40
|
$
|
59.72
|
Class A-2b Notes
|
$
|
13,787,592.54
|
$
|
58.67
|
$
|
311,117.75
|
$
|
1.32
|
$
|
14,098,710.29
|
$
|
59.99
|
Class A-3 Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
1,976,250.00
|
$
|
3.88
|
$
|
1,976,250.00
|
$
|
3.88
|
Class A-4 Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
364,800.00
|
$
|
3.80
|
$
|
364,800.00
|
$
|
3.80
|
Class B Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
199,969.25
|
$
|
4.23
|
$
|
199,969.25
|
$
|
4.23
|
Class C Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
145,142.58
|
$
|
4.59
|
$
|
145,142.58
|
$
|
4.59
|
Total
|
$
|
34,850,340.30
|
$
|
22.07
|
$
|
3,374,369.22
|
$
|
2.14
|
$
|
38,224,709.52
|
$
|
24.21
|
|
Page 2
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
18
|
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
|
$
|
88,036,490.98
|
0.2452270
|
$
|
66,973,743.22
|
0.1865564
|
Class A-2b Notes
|
$
|
57,628,343.68
|
0.2452270
|
$
|
43,840,751.14
|
0.1865564
|
Class A-3 Notes
|
$
|
510,000,000.00
|
1.0000000
|
$
|
510,000,000.00
|
1.0000000
|
Class A-4 Notes
|
$
|
96,000,000.00
|
1.0000000
|
$
|
96,000,000.00
|
1.0000000
|
Class B Notes
|
$
|
47,330,000.00
|
1.0000000
|
$
|
47,330,000.00
|
1.0000000
|
Class C Notes
|
$
|
31,610,000.00
|
1.0000000
|
$
|
31,610,000.00
|
1.0000000
|
Total
|
$
|
830,604,834.66
|
0.5260522
|
$
|
795,754,494.36
|
0.5039802
|
|
Pool Information
|
Weighted Average APR
|
4.971
|
%
|
4.995
|
%
|
Weighted Average Remaining Term
|
44.43
|
43.66
|
Number of Receivables Outstanding
|
34,459
|
33,529
|
Pool Balance
|
$
|
949,316,393.74
|
$
|
910,302,965.31
|
Adjusted Pool Balance (Pool Balance - YSOC Amount)
|
$
|
872,476,166.94
|
$
|
837,040,625.21
|
Pool Factor
|
0.5480512
|
0.5255283
|
|
VI. OVERCOLLATERALIZATION INFORMATION
|
Specified Reserve Balance
|
$
|
3,947,369.48
|
Yield Supplement Overcollateralization Amount
|
$
|
73,262,340.10
|
Targeted Overcollateralization Amount
|
$
|
114,548,470.95
|
Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance)
|
$
|
114,548,470.95
|
|
VII. RECONCILIATION OF RESERVE ACCOUNT
|
Beginning Reserve Account Balance
|
$
|
3,947,369.48
|
Reserve Account Deposits Made
|
$
|
0.00
|
Reserve Account Draw Amount
|
$
|
0.00
|
Ending Reserve Account Balance
|
$
|
3,947,369.48
|
Change in Reserve Account Balance
|
$
|
0.00
|
Specified Reserve Balance
|
$
|
3,947,369.48
|
|
Page 3
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
18
|
VIII. NET LOSS AND DELINQUENT RECEIVABLES
|
# of Receivables
|
Amount
|
Current Collection Period Loss:
|
Realized Loss (Charge-Offs)
|
84
|
$
|
427,972.33
|
(Recoveries)
|
39
|
$
|
88,913.62
|
Net Loss for Current Collection Period
|
$
|
339,058.71
|
Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized)
|
0.4286
|
%
|
|
Prior and Current Collection Periods Average Loss:
|
|
Ratio of Net Loss to the Average Pool Balance (annualized)
|
Third Prior Collection Period
|
0.9061
|
%
|
Second Prior Collection Period
|
0.6022
|
%
|
Prior Collection Period
|
0.5907
|
%
|
Current Collection Period
|
0.4376
|
%
|
Four Month Average (Current and Prior Three Collection Periods)
|
0.6342
|
%
|
|
Cumulative Loss:
|
Cumulative Realized Loss (Charge-Offs)
|
1,295
|
$
|
7,362,672.51
|
(Cumulative Recoveries)
|
$
|
873,868.63
|
Cumulative Net Loss for All Collection Periods
|
$
|
6,488,803.88
|
Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance
|
0.3746
|
%
|
|
Average Realized Loss for Receivables that have experienced a Realized Loss
|
$
|
5,685.46
|
Average Net Loss for Receivables that have experienced a Realized Loss
|
$
|
5,010.66
|
|
% of EOP Pool Balance
|
# of Receivables
|
Amount
|
Delinquent Receivables:
|
31-60 Days Delinquent
|
1.12
|
%
|
285
|
$
|
10,179,074.16
|
61-90 Days Delinquent
|
0.24
|
%
|
51
|
$
|
2,209,234.65
|
91-120 Days Delinquent
|
0.03
|
%
|
8
|
$
|
301,975.73
|
Over 120 Days Delinquent
|
0.08
|
%
|
17
|
$
|
745,286.09
|
Total Delinquent Receivables
|
1.48
|
%
|
361
|
$
|
13,435,570.63
|
|
Repossession Inventory:
|
Repossessed in the Current Collection Period
|
25
|
$
|
955,023.43
|
Total Repossessed Inventory
|
47
|
$
|
1,740,209.02
|
|
Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables:
|
Second Prior Collection Period
|
0.1644
|
%
|
Prior Collection Period
|
0.1973
|
%
|
Current Collection Period
|
0.2267
|
%
|
Three Month Average
|
0.1961
|
%
|
|
Delinquency Trigger (61+ Delinquent Receivables)
|
Transaction Month
|
Trigger
|
1-12
|
0.80%
|
13-24
|
1.50%
|
25-36
|
2.60%
|
37+
|
4.40%
|
61+ Delinquent Receivables Balance to EOP Pool Balance
|
0.3577
|
%
|
Delinquency Trigger Occurred
|
No
|
Page 4
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
18
|
|
Receivables Granted Extensions in the Current Collection Period:
|
# of Receivables
|
Amount
|
|
1 Month Extended
|
109
|
$3,941,939.29
|
2 Months Extended
|
177
|
$6,645,327.51
|
3+ Months Extended
|
32
|
$1,222,688.95
|
|
Total Receivables Extended
|
318
|
$11,809,955.75
|
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
Page 5