07/29/2024 | Press release | Distributed by Public on 07/29/2024 09:02
Servicer's Certificate
for the Collection Period June 01, 2024 through June 30, 2024
for Payment Date of July 15, 2024
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
Collection Period |
30 |
30/360 Days |
30 | ||||
Interest Accrual Period |
28 |
Actual/360 Days |
28 |
Class |
Initial Principal Balance |
Final Scheduled Payment Date |
Beginning Principal Balance |
Beginning Principal Factor |
First Priority Principal Distribution Amount |
Second Priority Principal Distribution Amount |
Regular Principal Distribution Amount |
Ending Principal Balance |
Ending Principal Factor |
|||||||||||||||||||||||||||
A-1 | $305,000,000.00 | 8/15/24 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
A-2a | $405,026,000.00 | 8/17/26 | $285,281,193.40 | 0.7043528 | $0.00 | $15,902,283.01 | $9,265,559.69 | $260,113,350.70 | 0.6422140 | |||||||||||||||||||||||||||
A-2b | $189,474,000.00 | 8/17/26 | $133,456,540.64 | 0.7043528 | $0.00 | $7,439,199.39 | $4,334,493.72 | $121,682,847.53 | 0.6422140 | |||||||||||||||||||||||||||
A-3 | $527,500,000.00 | 4/17/28 | $527,500,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $527,500,000.00 | 1.0000000 | |||||||||||||||||||||||||||
A-4 | $133,000,000.00 | 2/15/29 | $133,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $133,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
B | $40,000,000.00 | 3/15/30 | $40,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $40,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
Total | $1,600,000,000.00 | $1,119,237,734.04 | $0.00 | $23,341,482.40 | $13,600,053.41 | $1,082,296,198.23 | 0.6764351 | |||||||||||||||||||||||||||||
Class | Interest Rate |
Interest Distributable Amount |
Prior Interest Carryover |
Interest Distribution Amount |
Current Interest Carryover |
Total Principal & Interest Distribution |
||||||||||||||||||||
A-1 | 5.60400% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
A-2a | 5.60000% | $1,331,312.24 | $0.00 | $1,331,312.24 | $0.00 | $26,499,154.94 | ||||||||||||||||||||
A-2b | 5.73303% | $595,085.83 | $0.00 | $595,085.83 | $0.00 | $12,368,778.94 | ||||||||||||||||||||
A-3 | 5.16000% | $2,268,250.00 | $0.00 | $2,268,250.00 | $0.00 | $2,268,250.00 | ||||||||||||||||||||
A-4 | 5.01000% | $555,275.00 | $0.00 | $555,275.00 | $0.00 | $555,275.00 | ||||||||||||||||||||
B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||
Total | $4,749,923.07 | $0.00 | $4,749,923.07 | $0.00 | $41,691,458.88 | |||||||||||||||||||||
Credit Enhancement
Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
Initial Deposit Amount |
$4,000,015.71 |
Beginning Period Amount |
$104,648,462.10 | |||||||
Specified Reserve Account Amount |
$4,000,015.71 |
Increase/(Decrease) |
$(5,536,556.99 | ) | ||||||
Beginning Balance |
$4,000,015.71 |
Ending Period Amount |
$99,111,905.11 | |||||||
Withdrawals |
$0.00 | |||||||||
Amount Available for Deposit |
$17,078,231.85 | Overcollateralization | ||||||||
Amount Deposited to the Reserve Account |
$0.00 | |||||||||
Reserve Account Balance Prior to Release |
$4,000,015.71 |
Adjusted Pool Balance |
$1,095,896,251.64 | |||||||
Reserve Account Required Amount |
$4,000,015.71 |
Total Note Balance |
$1,082,296,198.23 | |||||||
Reserve Account Release to Seller |
$0.00 |
Ending Overcollateralization Amount |
$13,600,053.41 | |||||||
Ending Reserve Account Balance |
$4,000,015.71 |
Overcollateralization Target Amount |
$13,600,053.41 |
Page 1 of 5
Servicer's Certificate
for the Collection Period June 01, 2024 through June 30, 2024
for Payment Date of July 15, 2024
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
Collection Period |
30 |
30/360 Days |
30 | ||||
Interest Accrual Period |
28 |
Actual/360 Days |
28 |
Liquidations of Charge-offs and Repossessions
Cumulative | ||||||||||||||||||||
Current Period Only | Current Period | Prior Period | Two Periods Prior | Three Periods Prior | ||||||||||||||||
Number of Liquidated Receivables |
46 | 319 | 273 | 234 | 200 | |||||||||||||||
Gross Principal of Liquidated Receivables |
$1,299,857.82 | $9,045,546.34 | $7,745,688.52 | $6,725,210.58 | $5,865,261.62 | |||||||||||||||
Principal of Repurchased Contracts, previously charged-off |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||
Net Liquidation Proceeds Received During the Collection Period |
$(24,222.73 | ) | $(1,076,939.36 | ) | $(1,052,716.63 | ) | $(984,565.06 | ) | $(852,956.84 | ) | ||||||||||
Recoveries on Previously Liquidated Contracts |
$(327,292.71 | ) | $(2,404,850.24 | ) | $(2,077,557.53 | ) | $(1,606,626.48 | ) | $(1,108,048.75 | ) | ||||||||||
Net Credit Losses |
$948,342.38 | $5,563,756.74 | $4,615,414.36 | $4,134,019.04 | $3,904,256.03 | |||||||||||||||
Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
0.48527% | 0.41530% | 0.35597% | 0.30425% | ||||||||||||||||
Number of Accounts with Liquidation Proceeds or Recoveries |
265 | 231 | 204 | 170 | ||||||||||||||||
Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.38090% | 0.31083% | 0.27385% | 0.25442% | ||||||||||||||||
Number of Assets Experiencing a Net Loss |
303 | 257 | 222 | 192 | ||||||||||||||||
Net Credit Losses for Assets Experiencing a Loss |
$5,566,665.41 | $4,618,323.03 | $4,135,539.01 | $3,905,371.47 | ||||||||||||||||
Average Net Loss on all assets that have Experienced a Net Loss |
$18,371.83 | $17,970.13 | $18,628.55 | $20,340.48 | ||||||||||||||||
Cumulative Net Loss Ratio |
0.31228% | 0.25905% | 0.23203% | 0.21913% | ||||||||||||||||
Repossessed in Current Period |
15 vehicles |
Pool Data
Original | Prior Month | Current Month | |||||||||||
Receivables Pool Balance |
$1,781,678,265.26 | $1,237,486,249.55 | $1,195,008,156.75 | ||||||||||
Number of Contracts |
65,736 | 54,864 | 54,029 | ||||||||||
Weighted Average APR |
4.64% | 4.69% | 4.69% | ||||||||||
Weighted Average Remaining Term (Months) |
55.40 | 45.39 | 44.46 |
Page 2 of 5
Servicer's Certificate
for the Collection Period June 01, 2024 through June 30, 2024
for Payment Date of July 15, 2024
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
Collection Period |
30 |
30/360 Days |
30 | ||||
Interest Accrual Period |
28 |
Actual/360 Days |
28 |
Collections
Principal Payments Received |
$28,821,470.76 | |||
Prepayments in Full |
$12,355,913.89 | |||
Interest Payments Received |
$4,671,110.14 | |||
Aggregate Net Liquidation Proceeds |
$351,515.44 | |||
Interest on Repurchased Contracts |
$15.30 | |||
Total Collections |
$46,200,025.53 | |||
Principal of Repurchased Contracts |
$850.33 | |||
Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
Adjustment on Repurchased Contracts |
$0.00 | |||
Total Repurchased Amount |
$850.33 | |||
Total Available Collections |
$46,200,875.86 |
Distributions
Calculated Amount | Amount Paid | Shortfall | ||||||||||||
Servicing Fee |
$1,031,238.54 | $1,031,238.54 | $0.00 | |||||||||||
Trustee and Other Fees/Expenses (capped at $300,000.00 per calendar year) |
||||||||||||||
Indenture Trustee |
$0.00 | $0.00 | $0.00 | |||||||||||
Owner Trustee |
$0.00 | $0.00 | $0.00 | |||||||||||
Asset Representations Reviewer |
$0.00 | $0.00 | $0.00 | |||||||||||
Interest - Class A-1 Notes |
$0.00 | $0.00 | $0.00 | |||||||||||
Interest - Class A-2a Notes |
$1,331,312.24 | $1,331,312.24 | $0.00 | |||||||||||
Interest - Class A-2b Notes |
$595,085.83 | $595,085.83 | $0.00 | |||||||||||
Interest - Class A-3 Notes |
$2,268,250.00 | $2,268,250.00 | $0.00 | |||||||||||
Interest - Class A-4 Notes |
$555,275.00 | $555,275.00 | $0.00 | |||||||||||
First Priority Principal Distribution Amount |
$0.00 | $0.00 | $0.00 | |||||||||||
Interest - Class B Notes |
$0.00 | $0.00 | $0.00 | |||||||||||
Second Priority Principal Distribution Amount |
$23,341,482.40 | $23,341,482.40 | $0.00 | |||||||||||
Reserve Account Deposit |
$0.00 | $0.00 | $0.00 | |||||||||||
Regular Principal Distribution Amount |
$13,600,053.41 | $13,600,053.41 | $0.00 | |||||||||||
Additional Trustee and Other Fees/Expenses |
||||||||||||||
Indenture Trustee |
$0.00 | $0.00 | $0.00 | |||||||||||
Owner Trustee |
$0.00 | $0.00 | $0.00 | |||||||||||
Asset Representations Reviewer |
$0.00 | $0.00 | $0.00 | |||||||||||
Excess Amounts to the Certificateholder |
$3,478,178.44 | $3,478,178.44 | N/A |
Page 3 of 5
Servicer's Certificate
for the Collection Period June 01, 2024 through June 30, 2024
for Payment Date of July 15, 2024
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
Collection Period |
30 |
30/360 Days |
30 | ||||
Interest Accrual Period |
28 |
Actual/360 Days |
28 |
Noteholder Distributions
Interest Distributed |
Per $1000 of Original Balance |
Principal Distributed |
Per $1000 of Original Balance |
Amount Distributed |
Per $1000 of Original Balance |
||||||||||||||||||||||||
Class A-1 Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||||
Class A-2a Notes |
$1,331,312.24 | $3.29 | $25,167,842.70 | $62.14 | $26,499,154.94 | $65.43 | |||||||||||||||||||||||
Class A-2b Notes |
$595,085.83 | $3.14 | $11,773,693.11 | $62.14 | $12,368,778.94 | $65.28 | |||||||||||||||||||||||
Class A-3 Notes |
$2,268,250.00 | $4.30 | $0.00 | $0.00 | $2,268,250.00 | $4.30 | |||||||||||||||||||||||
Class A-4 Notes |
$555,275.00 | $4.18 | $0.00 | $0.00 | $555,275.00 | $4.18 | |||||||||||||||||||||||
Class B Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Delinquent and Repossessed Contracts
Percentage of Current Month Number of Contracts |
Units |
Percentage of Current Month Receivables Pool Balance |
Balance | |||||||||||||
30-59 Days Delinquent |
0.91% | 494 | 1.16% | $13,841,563.43 | ||||||||||||
60-89 Days Delinquent |
0.23% | 126 | 0.31% | $3,689,223.01 | ||||||||||||
90-119 Days Delinquent |
0.10% | 52 | 0.13% | $1,550,429.84 | ||||||||||||
120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
Total Delinquencies |
1.24% | 672 | 1.60% | $19,081,216.28 | ||||||||||||
Total Delinquencies - Prior Period |
1.13% | 1.44% | ||||||||||||||
Total Delinquencies - Two Months Prior |
1.00% | 1.27% | ||||||||||||||
Total Delinquencies - Three Months Prior |
1.05% | 1.31% | ||||||||||||||
Receivables Pool Balance |
$1,195,008,156.75 | |||||||||||||||
60-Day Delinquency Percentage |
0.44% | |||||||||||||||
Delinquency Trigger Percentage |
4.65% | |||||||||||||||
Has a Delinquency Trigger occurred in this Collection Period? |
No |
Repossessed Vehicle Inventory* |
18 vehicles | |||||
* Included with Delinquencies Above |
Page 4 of 5
Servicer's Certificate
for the Collection Period June 01, 2024 through June 30, 2024
for Payment Date of July 15, 2024
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
I hereby certify to the best of my knowledge that the report provided is true and correct.
/s/ Stephen Bishop |
||
Name: | Stephen Bishop | |
Title: | General Manager - Treasury |
Page 5 of 5