Toyota Auto Receivables 2023-C Owner Trust
11/26/2024 | Press release | Distributed by Public on 11/26/2024 10:02
Asset Backed Issuer Distribution Report Form 10 D
Servicer's Certificate
for the Collection Period October 01, 2024 through October 31, 2024
for Payment Date of November 15, 2024
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | ||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
| 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 | $182,156,215.57 | 0.4497396 | $0.00 | $17,186,959.30 | $9,265,559.69 | $155,703,696.58 | 0.3844289 | |||||||||||||||||||||||||||
| A-2b | $189,474,000.00 | 8/17/26 | $85,213,953.63 | 0.4497396 | $0.00 | $8,040,179.96 | $4,334,493.72 | $72,839,279.95 | 0.3844289 | |||||||||||||||||||||||||||
| 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 | $967,870,169.20 | $0.00 | $25,227,139.26 | $13,600,053.41 | $929,042,976.53 | 0.5806519 | |||||||||||||||||||||||||||||
| 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% | $850,062.34 | $0.00 | $850,062.34 | $0.00 | $27,302,581.33 | ||||||||||||||||||||
| A-2b | 5.40981% | $396,964.73 | $0.00 | $396,964.73 | $0.00 | $12,771,638.41 | ||||||||||||||||||||
| 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 | $4,070,552.07 | $0.00 | $4,070,552.07 | $0.00 | $42,897,744.74 | |||||||||||||||||||||
Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
|
Initial Deposit Amount |
$4,000,015.71 |
Beginning Period Amount |
$83,020,460.26 | |||||||
|
Specified Reserve Account Amount |
$4,000,015.71 |
Increase/(Decrease) |
$(5,108,839.26 | ) | ||||||
|
Beginning Balance |
$4,000,015.71 |
Ending Period Amount |
$77,911,621.00 | |||||||
|
Withdrawals |
$0.00 | |||||||||
|
Amount Available for Deposit |
$17,736,040.71 | Overcollateralization | ||||||||
|
Amount Deposited to the Reserve Account |
$0.00 | |||||||||
|
Reserve Account Balance Prior to Release |
$4,000,015.71 |
Adjusted Pool Balance |
$942,643,029.94 | |||||||
|
Reserve Account Required Amount |
$4,000,015.71 |
Total Note Balance |
$929,042,976.53 | |||||||
|
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 October 01, 2024 through October 31, 2024
for Payment Date of November 15, 2024
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | ||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
Liquidations of Charge-offs and Repossessions
| Cumulative | ||||||||||||||||||||
| Current Period Only | Current Period | Prior Period | Two Periods Prior | Three Periods Prior | ||||||||||||||||
|
Number of Liquidated Receivables |
42 | 487 | 445 | 403 | 352 | |||||||||||||||
|
Gross Principal of Liquidated Receivables |
$1,142,511.20 | $13,872,317.93 | $12,729,806.73 | $11,463,997.80 | $10,004,315.58 | |||||||||||||||
|
Principal of Repurchased Contracts, previously charged-off |
$0.00 | $(7,508.98 | ) | $(7,508.98 | ) | $(7,508.98 | ) | $0.00 | ||||||||||||
|
Net Liquidation Proceeds Received During the Collection Period |
$(173,423.36 | ) | $(1,364,844.37 | ) | $(1,191,421.01 | ) | $(1,148,803.87 | ) | $(1,102,546.47 | ) | ||||||||||
|
Recoveries on Previously Liquidated Contracts |
$(814,095.69 | ) | $(4,741,932.72 | ) | $(3,927,837.03 | ) | $(3,388,124.75 | ) | $(2,840,447.62 | ) | ||||||||||
|
Net Credit Losses |
$154,992.15 | $7,758,031.86 | $7,603,039.71 | $6,919,560.20 | $6,061,321.49 | |||||||||||||||
|
Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
0.74084% | 0.67695% | 0.61306% | 0.53548% | ||||||||||||||||
|
Number of Accounts with Liquidation Proceeds or Recoveries |
438 | 389 | 349 | 307 | ||||||||||||||||
|
Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.56760% | 0.54702% | 0.48966% | 0.42188% | ||||||||||||||||
|
Number of Assets Experiencing a Net Loss |
457 | 420 | 380 | 335 | ||||||||||||||||
|
Net Credit Losses for Assets Experiencing a Loss |
$7,765,056.04 | $7,608,910.79 | $6,925,211.53 | $6,064,230.16 | ||||||||||||||||
|
Average Net Loss on all assets that have Experienced a Net Loss |
$16,991.37 | $18,116.45 | $18,224.24 | $18,102.18 | ||||||||||||||||
|
Cumulative Net Loss Ratio |
0.43543% | 0.42673% | 0.38837% | 0.34020% | ||||||||||||||||
|
Repossessed in Current Period |
18 vehicles |
Pool Data
| Original | Prior Month | Current Month | |||||||||||
|
Receivables Pool Balance |
$1,781,678,265.26 | $1,064,490,682.87 | $1,020,554,650.94 | ||||||||||
|
Number of Contracts |
65,736 | 51,360 | 50,403 | ||||||||||
|
Weighted Average APR |
4.64% | 4.71% | 4.72% | ||||||||||
|
Weighted Average Remaining Term (Months) |
55.40 | 41.73 | 40.82 |
Page 2 of 5
Servicer's Certificate
for the Collection Period October 01, 2024 through October 31, 2024
for Payment Date of November 15, 2024
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | ||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
Collections
|
Principal Payments Received |
$28,540,353.45 | |||
|
Prepayments in Full |
$14,231,973.58 | |||
|
Interest Payments Received |
$4,139,735.52 | |||
|
Aggregate Net Liquidation Proceeds |
$987,519.05 | |||
|
Interest on Repurchased Contracts |
$32.31 | |||
|
Total Collections |
$47,899,613.91 | |||
|
Principal of Repurchased Contracts |
$21,193.70 | |||
|
Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
|
Adjustment on Repurchased Contracts |
$0.00 | |||
|
Total Repurchased Amount |
$21,193.70 | |||
|
Total Available Collections |
$47,920,807.61 |
Distributions
| Calculated Amount | Amount Paid | Shortfall | ||||||||||||
|
Servicing Fee |
$887,075.57 | $887,075.57 | $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 |
$850,062.34 | $850,062.34 | $0.00 | |||||||||||
|
Interest - Class A-2b Notes |
$396,964.73 | $396,964.73 | $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 |
$25,227,139.26 | $25,227,139.26 | $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 |
$4,135,987.30 | $4,135,987.30 | N/A |
Page 3 of 5
Servicer's Certificate
for the Collection Period October 01, 2024 through October 31, 2024
for Payment Date of November 15, 2024
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | ||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
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 |
$850,062.34 | $2.10 | $26,452,518.99 | $65.31 | $27,302,581.33 | $67.41 | |||||||||||||||||||||||
|
Class A-2b Notes |
$396,964.73 | $2.10 | $12,374,673.68 | $65.31 | $12,771,638.41 | $67.41 | |||||||||||||||||||||||
|
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 |
0.94% | 474 | 1.24% | $12,644,391.58 | ||||||||||||
|
60-89 Days Delinquent |
0.26% | 129 | 0.35% | $3,525,955.91 | ||||||||||||
|
90-119 Days Delinquent |
0.10% | 52 | 0.13% | $1,338,775.60 | ||||||||||||
|
120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
|
Total Delinquencies |
1.30% | 655 | 1.72% | $17,509,123.09 | ||||||||||||
|
Total Delinquencies - Prior Period |
1.33% | 1.75% | ||||||||||||||
|
Total Delinquencies - Two Months Prior |
1.35% | 1.75% | ||||||||||||||
|
Total Delinquencies - Three Months Prior |
1.29% | 1.67% | ||||||||||||||
|
Receivables Pool Balance |
$1,020,554,650.94 | |||||||||||||||
|
60-Day Delinquency Percentage |
0.48% | |||||||||||||||
|
Delinquency Trigger Percentage |
4.65% | |||||||||||||||
|
Has a Delinquency Trigger occurred in this Collection Period? |
No |
|
Repossessed Vehicle Inventory* |
21 vehicles | |||||
|
* Included with Delinquencies Above |
Page 4 of 5
Servicer's Certificate
for the Collection Period October 01, 2024 through October 31, 2024
for Payment Date of November 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