Capital One Prime Auto Receivables Trust 2021-1
Capital One Prime Auto Receivables Trust 2021-1
15/11/2024 | Press release | Distributed by Public on 15/11/2024 15:18
Asset Backed Issuer Distribution Report Form 10 D
CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2021-1
Statement to Securityholders
Determination Date: November 12, 2024
| Payment Date | 11/15/2024 |
| Collection Period Start | 10/1/2024 |
| Collection Period End | 10/31/2024 |
| Interest Period Start | 10/15/2024 |
| Interest Period End | 11/14/2024 |
| Cut-Off Date Net Pool Balance | $ | 1,356,483,994.50 |
| Cut-Off Date Adjusted Pool Balance | $ | 1,356,483,994.50 |
I. DEAL SUMMARY
|
Beginning Note Balance |
Principal Payment | Ending Note Balance | Note Factor | Final Scheduled Payment Date | ||||
| Class A-1 Notes | $ | - | $ | - | $ | - | - | Nov-22 |
| Class A-2 Notes | $ | - | $ | - | $ | - | - | Feb-25 |
| Class A-3 Notes | $ | 133,773,623.35 | $ | 17,927,531.52 | $ | 115,846,091.83 | 0.248490 | Sep-26 |
| Class A-4 Notes | $ | 105,390,000.00 | $ | - | $ | 105,390,000.00 | 1.000000 | Apr-27 |
| Class B Notes | $ | 13,565,000.00 | $ | - | $ | 13,565,000.00 | 1.000000 | Apr-27 |
| Class C Notes | $ | 13,564,000.00 | $ | - | $ | 13,564,000.00 | 1.000000 | May-27 |
| Class D Notes | $ | 13,564,000.00 | $ | - | $ | 13,564,000.00 | 1.000000 | Mar-28 |
| Total Notes | $ | 279,856,623.35 | $ | 17,927,531.52 | $ | 261,929,091.83 |
| Beginning Balance | Ending Balance | Pool Factor | |||
| Net Pool Balance | $ | 283,247,833.34 | $ | 265,320,301.82 | 0.195594 |
| YSOC Amount | N/A | N/A | |||
| Adjusted Pool Balance | $ | 283,247,833.34 | $ | 265,320,301.82 | |
| Overcollateralization Amount (Adjusted Pool Balance - Note Balance) | $ | 3,391,209.99 | $ | 3,391,209.99 | |
| Reserve Account Balance | $ | 3,391,209.99 | $ | 3,391,209.99 |
|
Beginning Note Balance |
Interest Rate | Accrual Methodology | Interest Payment | |||
| Class A-1 Notes | $ | - | 0.13428% | ACT/360 | $ | - |
| Class A-2 Notes | $ | - | 0.32000% | 30/360 | $ | - |
| Class A-3 Notes | $ | 133,773,623.35 | 0.77000% | 30/360 | $ | 85,838.07 |
| Class A-4 Notes | $ | 105,390,000.00 | 1.04000% | 30/360 | $ | 91,338.00 |
| Class B Notes | $ | 13,565,000.00 | 1.29000% | 30/360 | $ | 14,582.38 |
| Class C Notes | $ | 13,564,000.00 | 1.43000% | 30/360 | $ | 16,163.77 |
| Class D Notes | $ | 13,564,000.00 | 1.68000% | 30/360 | $ | 18,989.60 |
| Total Notes | $ | 279,856,623.35 | $ | 226,911.82 |
II. COLLATERAL POOL BALANCE
| Beginning of Period | End of Period | |||
| Net Pool Balance | $ | 283,247,833.34 | $ | 265,320,301.82 |
| Adjusted Pool Balance (Net Pool Balance - YSOC Amount) | $ | 283,247,833.34 | $ | 265,320,301.82 |
| Number of Receivables Outstanding | 33,498 | 32,523 | ||
| Weighted Average Contract Rate | 3.87 | % | 3.87 | % |
| Weighted Average Remaining Term (months) | 26.0 | 25.1 |
III. FUNDS AVAILABLE FOR DISTRIBUTION
| Available Funds: | ||
| a. Collections | ||
| Interest Collections | $ | 899,674.75 |
| Principal Collections | $ | 17,790,947.42 |
| Liquidation Proceeds | $ | 129,196.15 |
| b. Repurchase Price | $ | - |
| c. Optional Purchase Price | $ | - |
| d. Reserve Account Excess Amount | $ | - |
| Total Available Funds | $ | 18,819,818.32 |
| Reserve Account Draw Amount | $ | - |
| Total Funds Available for Distribution | $ | 18,819,818.32 |
IV. DISTRIBUTION
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | ||||||
| Servicing Fee | $ | 236,039.86 | $ | 236,039.86 | $ | - | $ | - | $ | 18,583,778.46 |
| Interest - Class A-1 Notes | $ | - | $ | - | $ | - | $ | - | $ | 18,583,778.46 |
| Interest - Class A-2 Notes | $ | - | $ | - | $ | - | $ | - | $ | 18,583,778.46 |
| Interest - Class A-3 Notes | $ | 85,838.07 | $ | 85,838.07 | $ | - | $ | - | $ | 18,497,940.39 |
| Interest - Class A-4 Notes | $ | 91,338.00 | $ | 91,338.00 | $ | - | $ | - | $ | 18,406,602.39 |
| First Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 18,406,602.39 |
| Interest - Class B Notes | $ | 14,582.38 | $ | 14,582.38 | $ | - | $ | - | $ | 18,392,020.01 |
| Second Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 18,392,020.01 |
| Interest - Class C Notes | $ | 16,163.77 | $ | 16,163.77 | $ | - | $ | - | $ | 18,375,856.24 |
| Third Allocation of Principal | $ | 972,321.53 | $ | 972,321.53 | $ | - | $ | - | $ | 17,403,534.71 |
| Interest - Class D Notes | $ | 18,989.60 | $ | 18,989.60 | $ | - | $ | - | $ | 17,384,545.11 |
| Fourth Allocation of Principal | $ | 13,564,000.00 | $ | 13,564,000.00 | $ | - | $ | - | $ | 3,820,545.11 |
| Reserve Account Deposit Amount | $ | - | $ | - | $ | - | $ | - | $ | 3,820,545.11 |
| Regular Principal Distribution Amount | $ | 3,391,209.99 | $ | 3,391,209.99 | $ | - | $ | - | $ | 429,335.12 |
| Owner Trustee, Indenture Trustee, and ARR Fees & Expenses | $ | - | $ | - | $ | - | $ | - | $ | 429,335.12 |
| Remaining Funds to Certificates | $ | 429,335.12 | $ | 429,335.12 | $ | - | $ | - | $ | - |
| Total | $ | 18,819,818.32 | $ | 18,819,818.32 | $ | - | $ | - |
V. OVERCOLLATERALIZATION INFORMATION
| Yield Supplement Overcollateralization Amount: | |
| Beginning Period YSOC Amount | N/A |
| Increase/(Decrease) | N/A |
| Ending YSOC Amount | N/A |
| Overcollateralization: | Beginning of Period | End of Period | ||
| Adjusted Pool Balance | $ | 283,247,833.34 | $ | 265,320,301.82 |
| Note Balance | $ | 279,856,623.35 | $ | 261,929,091.83 |
| Overcollateralization (Adjusted Pool Balance - Note Balance) | $ | 3,391,209.99 | $ | 3,391,209.99 |
| Target Overcollateralization Amount | $ | 3,391,209.99 | $ | 3,391,209.99 |
| Overcollateralization Shortfall | $ | - | $ | - |
VI. RESERVE ACCOUNT
| Specified Reserve Account Balance | $ | 3,391,209.99 |
| Beginning Reserve Account Balance | $ | 3,391,209.99 |
| Reserve Account Deposit Amount | $ | - |
| Reserve Account Draw Amount | $ | - |
| Reserve Account Excess Amount | $ | - |
| Ending Reserve Account Balance | $ | 3,391,209.99 |
VII. NET LOSS AND DELINQUENT RECEIVABLES
| Net Loss: | % of EOP Net Pool Balance | # of Receivables | Amount | |
| Defaulted Receivables during Collection Period (Principal Balance) | 0.05% | 13 | $ | 136,584.10 |
|
Liquidation Proceeds of Defaulted Receivables1
|
0.05% | 115 | $ | 129,196.15 |
| Monthly Net Losses (Liquidation Proceeds) | $ | 7,387.95 | ||
| Net Losses as % of Average Pool Balance (annualized) | ||||
| Third Preceding Collection Period | 0.40 | % | ||
| Second Preceding Collection Period | (0.01) | % | ||
| Preceding Collection Period | 0.15 | % | ||
| Current Collection Period | 0.03 | % | ||
| Four-Month Average Net Loss Ratio | 0.14 | % | ||
| Cumulative Net Losses for All Periods | $ | 2,380,393.23 | ||
| Cumulative Net Loss Ratio | 0.18 | % | ||
|
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 | 0.53% | 132 | $ | 1,395,491.47 |
| 60-89 Days Delinquent | 0.18% | 43 | $ | 486,637.51 |
| 90-119 Days Delinquent | 0.04% | 8 | $ | 103,701.22 |
| 120+ Days Delinquent | 0.00% | 0 | $ | - |
| Total Delinquent Receivables | 0.75% | 183 | $ | 1,985,830.20 |
| Repossession Inventory: | # of Receivables | Principal Balance | ||
| Repossessed in the Current Collection Period | 3 | $ | 21,387.01 | |
| Total Repossessed Inventory | 5 | $ | 46,116.84 | |
| 60+ Delinquency Percentage: | # of Receivables | Amount | ||
| 60+ Day Delinquent Receivables | 51 | $ | 590,338.73 | |
| 60+ Delinquencies as % of EOP Net Pool Balance | ||||
| Third Preceding Collection Period | 0.22 | % | ||
| Second Preceding Collection Period | 0.21 | % | ||
| Preceding Collection Period | 0.19 | % | ||
| Current Collection Period | 0.22 | % | ||
| 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 October 2024.
| Month-End Balance | # of Receivables | |||
| ($MM) | (%) | (#) | (%) | |
| Total Extensions | 0.54 | 0.20% | 53 | 0.16% |