Toyota Auto Receivables 2024-A Owner Trust
10/29/2024 | Press release | Distributed by Public on 10/29/2024 09:23
Asset Backed Issuer Distribution Report Form 10 D
Servicer's Certificate
for the Collection Period September 01, 2024 through September 30, 2024
for Payment Date of October 15, 2024
Toyota Auto Receivables 2024-A Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
30 |
30/360 Days |
30 | ||||
|
Interest Accrual Period |
29 |
Actual/360 Days |
29 |
| 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 | $345,000,000.00 | 1/15/25 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2a | $157,500,000.00 | 12/15/26 | $128,018,674.12 | 0.8128170 | $0.00 | $7,666,484.83 | $3,718,750.01 | $116,633,439.28 | 0.7405298 | |||||||||||||||||||||||||||
| A-2b | $472,500,000.00 | 12/15/26 | $384,056,022.38 | 0.8128170 | $0.00 | $22,999,454.49 | $11,156,250.05 | $349,900,317.84 | 0.7405298 | |||||||||||||||||||||||||||
| A-3 | $630,000,000.00 | 10/16/28 | $630,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $630,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| A-4 | $101,250,000.00 | 4/16/29 | $101,250,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $101,250,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| B | $43,750,000.00 | 8/15/30 | $43,750,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $43,750,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| Total | $1,750,000,000.00 | $1,287,074,696.50 | $0.00 | $30,665,939.32 | $14,875,000.06 | $1,241,533,757.12 | 0.7094479 | |||||||||||||||||||||||||||||
| Class | Interest Rate |
Interest Distributable Amount |
Prior Interest Carryover |
Interest Distribution Amount |
Current Interest Carryover |
Total Principal & Interest Distribution |
||||||||||||||||||||
| A-1 | 5.51900% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2a | 5.13000% | $547,279.83 | $0.00 | $547,279.83 | $0.00 | $11,932,514.67 | ||||||||||||||||||||
| A-2b | 5.69207% | $1,761,003.86 | $0.00 | $1,761,003.86 | $0.00 | $35,916,708.40 | ||||||||||||||||||||
| A-3 | 4.83000% | $2,535,750.00 | $0.00 | $2,535,750.00 | $0.00 | $2,535,750.00 | ||||||||||||||||||||
| A-4 | 4.77000% | $402,468.75 | $0.00 | $402,468.75 | $0.00 | $402,468.75 | ||||||||||||||||||||
| B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||
| Total | $5,246,502.44 | $0.00 | $5,246,502.44 | $0.00 | $50,787,441.82 | |||||||||||||||||||||
Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
|
Initial Deposit Amount |
$4,375,000.02 |
Beginning Period Amount |
$99,901,945.22 | |||||||
|
Specified Reserve Account Amount |
$4,375,000.02 |
Increase/(Decrease) |
$(5,484,585.92 | ) | ||||||
|
Beginning Balance |
$4,375,000.02 |
Ending Period Amount |
$94,417,359.30 | |||||||
|
Withdrawals |
$0.00 | |||||||||
|
Amount Available for Deposit |
$19,756,630.48 | Overcollateralization | ||||||||
|
Amount Deposited to the Reserve Account |
$0.00 | |||||||||
|
Reserve Account Balance Prior to Release |
$4,375,000.02 |
Adjusted Pool Balance |
$1,256,408,757.18 | |||||||
|
Reserve Account Required Amount |
$4,375,000.02 |
Total Note Balance |
$1,241,533,757.12 | |||||||
|
Reserve Account Release to Seller |
$0.00 |
Ending Overcollateralization Amount |
$14,875,000.06 | |||||||
|
Ending Reserve Account Balance |
$4,375,000.02 |
Overcollateralization Target Amount |
$14,875,000.06 |
Page 1 of 5
Servicer's Certificate
for the Collection Period September 01, 2024 through September 30, 2024
for Payment Date of October 15, 2024
Toyota Auto Receivables 2024-A Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
30 |
30/360 Days |
30 | ||||
|
Interest Accrual Period |
29 |
Actual/360 Days |
29 |
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 | 263 | 217 | 168 | 129 | |||||||||||||||
|
Gross Principal of Liquidated Receivables |
$1,218,288.39 | $7,247,873.88 | $6,029,585.49 | $4,652,843.71 | $3,611,701.34 | |||||||||||||||
|
Principal of Repurchased Contracts, previously charged-off |
$0.00 | $(13,698.02 | ) | $(13,698.02 | ) | $(13,698.02 | ) | $(10,560.99 | ) | |||||||||||
|
Net Liquidation Proceeds Received During the Collection Period |
$(62,451.63 | ) | $(922,075.22 | ) | $(859,623.59 | ) | $(685,365.57 | ) | $(565,589.49 | ) | ||||||||||
|
Recoveries on Previously Liquidated Contracts |
$(586,873.19 | ) | $(2,044,422.84 | ) | $(1,457,549.65 | ) | $(1,127,263.28 | ) | $(773,114.43 | ) | ||||||||||
|
Net Credit Losses |
$568,963.57 | $4,267,677.80 | $3,698,714.23 | $2,826,516.84 | $2,262,436.43 | |||||||||||||||
|
Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
0.36667% | 0.30254% | 0.23422% | 0.17985% | ||||||||||||||||
|
Number of Accounts with Liquidation Proceeds or Recoveries |
222 | 181 | 135 | 104 | ||||||||||||||||
|
Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.26647% | 0.22699% | 0.17049% | 0.13412% | ||||||||||||||||
|
Number of Assets Experiencing a Net Loss |
244 | 200 | 156 | 121 | ||||||||||||||||
|
Net Credit Losses for Assets Experiencing a Loss |
$4,271,408.77 | $3,702,324.11 | $2,828,702.61 | $2,264,472.12 | ||||||||||||||||
|
Average Net Loss on all assets that have Experienced a Net Loss |
$17,505.77 | $18,511.62 | $18,132.71 | $18,714.65 | ||||||||||||||||
|
Cumulative Net Loss Ratio |
0.22362% | 0.19381% | 0.14810% | 0.11855% | ||||||||||||||||
|
Repossessed in Current Period |
16 vehicles |
Pool Data
| Original | Prior Month | Current Month | |||||||||||
|
Receivables Pool Balance |
$1,908,468,799.65 | $1,401,851,641.78 | $1,350,826,116.48 | ||||||||||
|
Number of Contracts |
71,726 | 60,611 | 59,445 | ||||||||||
|
Weighted Average APR |
5.37% | 5.42% | 5.43% | ||||||||||
|
Weighted Average Remaining Term (Months) |
54.51 | 46.54 | 45.63 |
Page 2 of 5
Servicer's Certificate
for the Collection Period September 01, 2024 through September 30, 2024
for Payment Date of October 15, 2024
Toyota Auto Receivables 2024-A Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
30 |
30/360 Days |
30 | ||||
|
Interest Accrual Period |
29 |
Actual/360 Days |
29 |
Collections
|
Principal Payments Received |
$33,627,853.84 | |||
|
Prepayments in Full |
$16,118,726.77 | |||
|
Interest Payments Received |
$6,380,265.95 | |||
|
Aggregate Net Liquidation Proceeds |
$649,324.82 | |||
|
Interest on Repurchased Contracts |
$454.26 | |||
|
Total Collections |
$56,776,625.64 | |||
|
Principal of Repurchased Contracts |
$60,656.30 | |||
|
Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
|
Adjustment on Repurchased Contracts |
$0.00 | |||
|
Total Repurchased Amount |
$60,656.30 | |||
|
Total Available Collections |
$56,837,281.94 |
Distributions
| Calculated Amount | Amount Paid | Shortfall | ||||||||||||
|
Servicing Fee |
$1,168,209.70 | $1,168,209.70 | $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 |
$547,279.83 | $547,279.83 | $0.00 | |||||||||||
|
Interest - Class A-2b Notes |
$1,761,003.86 | $1,761,003.86 | $0.00 | |||||||||||
|
Interest - Class A-3 Notes |
$2,535,750.00 | $2,535,750.00 | $0.00 | |||||||||||
|
Interest - Class A-4 Notes |
$402,468.75 | $402,468.75 | $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 |
$30,665,939.32 | $30,665,939.32 | $0.00 | |||||||||||
|
Reserve Account Deposit |
$0.00 | $0.00 | $0.00 | |||||||||||
|
Regular Principal Distribution Amount |
$14,875,000.06 | $14,875,000.06 | $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 |
$4,881,630.42 | $4,881,630.42 | N/A |
Page 3 of 5
Servicer's Certificate
for the Collection Period September 01, 2024 through September 30, 2024
for Payment Date of October 15, 2024
Toyota Auto Receivables 2024-A Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
30 |
30/360 Days |
30 | ||||
|
Interest Accrual Period |
29 |
Actual/360 Days |
29 |
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 |
$547,279.83 | $3.47 | $11,385,234.84 | $72.29 | $11,932,514.67 | $75.76 | |||||||||||||||||||||||
|
Class A-2b Notes |
$1,761,003.86 | $3.73 | $34,155,704.54 | $72.29 | $35,916,708.40 | $76.02 | |||||||||||||||||||||||
|
Class A-3 Notes |
$2,535,750.00 | $4.03 | $0.00 | $0.00 | $2,535,750.00 | $4.03 | |||||||||||||||||||||||
|
Class A-4 Notes |
$402,468.75 | $3.98 | $0.00 | $0.00 | $402,468.75 | $3.98 | |||||||||||||||||||||||
|
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 |
0.80% | 477 | 1.00% | $13,479,567.35 | ||||||||||||
|
60-89 Days Delinquent |
0.21% | 123 | 0.27% | $3,613,810.64 | ||||||||||||
|
90-119 Days Delinquent |
0.10% | 57 | 0.11% | $1,541,861.40 | ||||||||||||
|
120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
|
Total Delinquencies |
1.11% | 657 | 1.38% | $18,635,239.39 | ||||||||||||
|
Total Delinquencies - Prior Period |
1.09% | 1.36% | ||||||||||||||
|
Total Delinquencies - Two Months Prior |
1.15% | 1.42% | ||||||||||||||
|
Total Delinquencies - Three Months Prior |
1.05% | 1.28% | ||||||||||||||
|
Receivables Pool Balance |
$1,350,826,116.48 | |||||||||||||||
|
60-Day Delinquency Percentage |
0.38% | |||||||||||||||
|
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 September 01, 2024 through September 30, 2024
for Payment Date of October 15, 2024
Toyota Auto Receivables 2024-A 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