Volkswagen Auto Loan Enhanced Trust 2021-1

11/20/2024 | Press release | Distributed by Public on 11/20/2024 08:17

Asset Backed Issuer Distribution Report Form 10 D

Volkswagen Auto Loan Enhanced Trust 2021-1
MONTHLY SERVICER CERTIFICATE
For the collection period ended 10-31-2024 PAGE 1
A. DATES Begin End # days
1 Determination Date 11/18/2024
2 Payment Date 11/20/2024
3 Collection Period 10/1/2024 10/31/2024 31
4 Monthly Interest Period - Actual/360 10/21/2024 11/19/2024 30
5 Monthly Interest - 30/360 30
B. SUMMARY
Initial Balance Beginning Balance Principal Payment Ending Balance Note Factor
6 Class A-1 Notes 324,500,000.00 - - - -
7 Class A-2 Notes 630,000,000.00 - - - -
8 Class A-3 Notes 630,000,000.00 126,773,376.98 25,737,473.91 101,035,903.06 0.1603744
9 Class A-4 Notes 165,500,000.00 165,500,000.00 - 165,500,000.00 1.0000000
10 Total Securities $ 1,750,000,000.00 $ 292,273,376.98 $ 25,737,473.91 $ 266,535,903.06
11 Overcollateralization 72,922,127.29 72,922,127.29 72,922,127.29
12 Adjusted Pool Balance $ 1,822,922,127.29 $ 365,195,504.27 $ 25,737,473.91 $ 339,458,030.35
13 YSOC 59,379,670.34 8,009,919.63 7,290,006.44
14 Net Pool Balance $ 1,882,301,797.63 $ 373,205,423.90 $ 25,737,473.91 $ 346,748,036.79
Coupon Rate Libor Rate Interest Pmt Due Per $1000
Face Amount 		Principal& Interest
Payment Due 		Per $1000
Face Amount
15 Class A-1 Notes 0.15946 % N/A - - - -
16 Class A-2 Notes 0.49000 % N/A - - - -
17 Class A-3 Notes 1.02000 % N/A 107,757.37 0.1710434 25,845,231.28 41.0241766
18 Class A-4 Notes 1.26000 % N/A 173,775.00 1.0500000 173,775.00 1.0500000
19 Total Securities 281,532.37 26,019,006.28
C. COLLECTIONS AND AVAILABLE FUNDS
20 Scheduled Principal Payments Received 18,900,967.64
21 Scheduled Interest Payments Received 858,088.53
22 Prepayments of Principal Received 7,129,102.12
23 Liquidation Proceeds 45,161.57
24 Recoveries Received 304,801.25
25 Other Payments Received to Reduce Principal
26 Subtotal: Total Collections 27,238,121.11
27 Repurchased Receivables -
28 Reserve Account Excess Amount (Item 89) 18,594.16
29 Total Available Funds, prior to Servicer Advances 27,256,715.27
30 Servicer Advance (Item 72) -
31 Total Available Funds + Servicer Advance 27,256,715.27
32 Reserve Account Draw Amount (Item 75) -
33 Total Available Funds + Servicer Advance and Reserve Account Draw Amount 27,256,715.27
D. DISTRIBUTIONS
Distribution Summary:
34 Prior Advance Reimbursement (Item 78) -
35 Servicing Fees (Item 42) 311,004.52
36 Class A Noteholder Interest (Item 51) 281,532.37
37 Principal Distribution Amount (Item 76) 25,737,473.91
38 Amount Paid to Reserve Account to Reach Specified Balance -
39 Other Amounts Paid to Trustees -
40 Certificateholders Principal Distribution Amount -
41 Remaining Funds to Seller 926,704.47

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Distribution Detail: Due Shortfall Paid
42 Servicing Fees 311,004.52 - 311,004.52
Pro rata:
43 Class A-1 Interest - - -
44 Class A-2-A Interest - - -
45 Class A-3 Interest 107,757.37 - 107,757.37
46 Class A-4 Interest 173,775.00 - 173,775.00
47 Class A-1 Interest Carryover Shortfall - - -
48 Class A-2 Interest Carryover Shortfall - - -
49 Class A-3 Interest Carryover Shortfall - - -
50 Class A-4 Interest Carryover Shortfall - - -
51 Class A Noteholder Interest 281,532.37 - 281,532.37
E. CALCULATIONS
Calculation of Principal Distribution Amount:
52 Beginning Adjusted Pool Balance 365,195,504.27
53 Beginning Net Pool Balance 373,205,423.90
54 Receipts of Scheduled Principal (18,900,967.64 )
55 Receipts of Prepaid Principal (7,129,102.12 )
56 Liquidation Proceeds (45,161.57 )
57 Other Collections of Principal -
58 Principal Amount of Repurchases -
59 Principal Amount of Defaulted Receivables (382,155.78 )
60 Ending Net Pool Balance 346,748,036.79
61 Yield Supplement Overcollateralization Amount 7,290,006.44
62 Adjusted Pool Balance 339,458,030.35
63 Less: Adjusted Pool Balance - End of Collection Period 339,458,030.35
64 Calculated Principal Distribution Amount 25,737,473.91
Calculation of Servicer Advance:
65 Available Funds, prior to Servicer Advances (Item 29) 27,256,715.27
66 Less: Prior Advance Reimbursement (Item 34) -
67 Less: Servicing Fees Paid (Item 35) 311,004.52
68 Less: Interest Paid to Noteholders (Item 36) 281,532.37
69 Less: Calculated Principal Distribution (Item 64) 25,737,473.91
70 Equals: Remaining Available Funds before Servicer Advance 926,704.47
71 Monthly Loan Payments Due on Included Units but not received (N/A if Item 70 > 0) N/A
72 Servicer Advance (If Item 70 < 0, lesser of Item 70 and Item 71, else 0) -
Calculation of Reserve Account Draw Amount:
73 Remaining Available Funds, before Reserve Account Draw (Item 70 plus Item 72) 926,704.47
74 Available Funds Shortfall Amount (If Item 73 < 0, Item 73, else 0) -
75 Reserve Account Draw Amount (If Item 74 is > 0, Lesser of Reserve Acct Balance and Item 74) -
76 Principal Distribution Amount (Item 64 - Available Funds Shortfall + Reserve Account Draw Amt) 25,737,473.91
Reconciliation of Servicer Advance:
77 Beginning Balance of Servicer Advance -
78 Less: Prior Advance Reimbursement -
79 Plus: Additional Servicer Advances for Current Period -
80 Ending Balance of Servicer Advance -
F. RESERVE ACCOUNT
Reserve Account Balances:
81 Specified Reserve Account Balance (Lesser of (a) $4,557,305.32, and (b) the aggregate note balance) 4,557,305.32
82 Initial Reserve Account Balance 4,557,305.32
83 Beginning Reserve Account Balance 4,557,305.32
84 Plus: Net Investment Income for the Collection Period 18,594.16
85 Subtotal: Reserve Fund Available for Distribution 4,575,899.48
86 Plus: Deposit of Excess Available Funds (Item 38) -
87 Less: Reserve Account Draw Amount (Item 75) -
88 Subtotal Reserve Account Balance 4,575,899.48
89 Less: Reserve Account Excess Amount to Available Funds (If Item 88 > Item 81) 18,594.16
90 Equals: Ending Reserve Account Balance 4,557,305.32
91 Change in Reserve Account Balance from Immediately Preceding Payment Date -

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G. POOL STATISTICS
Collateral Pool Balance Data: Initial Prior Period Current Period
92 Net Pool Balance 1,882,301,798 373,205,424 346,748,037
93 Number of Current Contracts 74,164 37,775 36,800
94 Weighted Average Loan Rate 2.98 % 2.78 % 2.78 %
95 Average Remaining Term 54.4 21.3 20.5
96 Average Original Term 64.7 66.2 66.3
97 Monthly Prepayment Rate 1.00 % 1.08 %
Outstanding
Net Credit Loss and Repossession Activity: Units Principal Balance
98 Aggregate Outstanding Principal Balance of Charged Off Receivables 27 427,317.35
99 Liquidation Proceeds on Related Vehicles 45,161.57
100 Recoveries Received on Receivables Previously Charged Off 304,801.25
101 Net Principal Losses for Current Collection Period 27 77,354.53
102 Beginning Net Principal Losses 998 11,655,094.43
103 Net Principal Losses for Current Collection Period 27 77,354.53
104 Cumulative Net Principal Losses 1,025 11,732,448.96
105 Cumulative Net Loss Ratio (Cumulative Net Principal Losses divided by $1,882,301,797.63) 0.62 %
Outstanding
Delinquencies Aging Profile - End of Period: Percentage Units Principal Balance
106 Current 98.77 % 36,466 342,471,451.47
107 31 - 60 Days Delinquent 0.95 % 259 3,284,612.59
108 61 - 90 Days Delinquent 0.29 % 75 991,972.73
109 91-120 Days Delinquent1 0.00 % - -
110 Total 100.00 % 36,800 346,748,036.79
H. DELINQUENCY AND NET LOSS RATIOS
111 Ratio of Net Principal Losses to the Pool balance as of Each Collection Period Percentage
112 Current Period 0.02 %
113 Prior Period 0.00 %
114 Two Periods Prior 0.01 %
115 Three Periods Prior -0.02 %
116 Four Period Average (Current and Three Prior Collection Periods) 0.00 %
Total Delinquencies - Ratio of Principal Balance of 61-Day Delinquent Receivables to the Pool balance as of Each Collection Period Percentage
117 Current Period 0.29 %
118 Prior Period 0.26 %
119 Two Periods Prior 0.23 %
120 Three Periods Prior 0.26 %
121 Four Period Average (Current and Three Prior Collection Periods) 0.26 %
122 Delinquency Trigger 4.48 %
123 Delinquency Percentage (61-Day Delinquent Receivables) 0.29 %
124 Delinquency Trigger occurred in this collection Period? No
Summary of Material Modifications, Extensions or Waivers
None in the current month
Summary of Material Breaches of Representations or Warranties Related to Eligibility Criteria
None in the current month
Summary of Material Breaches by the Issuer of Transaction Covenants
None in the current month
Summary of Material Changes in Practices With respect to Charge-Offs, Collections and Management of Delinquent Receivables and the Effect of any Grace Period, Re-Aging, Re-Structuring, Partial Payments or Other Practices on Delinquency and Loss Experience
None in the current month
VW CREDIT, INC., as Servicer
By:
Title: Team Leader - Structured Finance
Date: November 18, 2024