Ford Credit Auto Owner Trust 2022-C
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
24
|
Additional information about the structure, cashflows, defined terms and parties for this transaction can be found in the prospectus, available on the SEC website (http://www.sec.gov) under the registration number 333-258040 and at https://www.ford.com/finance/investor-center/asset-backed-securitization.
I. ORIGINAL DEAL PARAMETERS
|
Dollar Amount
|
# of Receivables
|
Weighted Avg Remaining Term at Cutoff
|
Initial Pool Balance
|
$
|
1,745,303,060.82
|
52,430
|
54.7 months
|
|
Dollar Amount
|
Note Interest Rate
|
Final Scheduled Payment Date
|
Original Securities
|
Class A-1 Notes
|
$
|
304,740,000.00
|
3.633
|
%
|
October 15, 2023
|
Class A-2a Notes
|
$
|
319,040,000.00
|
4.52
|
%
|
April 15, 2025
|
Class A-2b Notes
|
$
|
200,000,000.00
|
5.87353
|
%
|
*
|
April 15, 2025
|
Class A-3 Notes
|
$
|
519,040,000.00
|
4.48
|
%
|
December 15, 2026
|
Class A-4 Notes
|
$
|
157,180,000.00
|
4.59
|
%
|
December 15, 2027
|
Class B Notes
|
$
|
47,370,000.00
|
5.03
|
%
|
February 15, 2028
|
Class C Notes
|
$
|
31,570,000.00
|
5.22
|
%
|
March 15, 2030
|
Total
|
$
|
1,578,940,000.00
|
* 30-day average SOFR + 0.52%
|
II. AVAILABLE FUNDS
|
Interest:
|
Interest Collections
|
$
|
2,043,311.18
|
|
Principal:
|
Principal Collections
|
$
|
23,111,486.78
|
Prepayments in Full
|
$
|
10,596,239.30
|
Liquidation Proceeds
|
$
|
290,828.88
|
Recoveries
|
$
|
51,414.98
|
Sub Total
|
$
|
34,049,969.94
|
Collections
|
$
|
36,093,281.12
|
|
Purchase Amounts:
|
Purchase Amounts Related to Principal
|
$
|
66,591.78
|
Purchase Amounts Related to Interest
|
$
|
430.69
|
Sub Total
|
$
|
67,022.47
|
|
Clean-up Call
|
$
|
0.00
|
|
Reserve Account Draw Amount
|
$
|
0.00
|
|
Available Funds - Total
|
$
|
36,160,303.59
|
Page 1
Ford Credit Auto Owner Trust 2022-C
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
24
|
III. DISTRIBUTIONS
|
Calculated Amount
|
Amount Paid
|
Shortfall
|
Carryover Shortfall
|
Remaining Available Funds
|
Trustee and Other Fees/Expenses
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
36,160,303.59
|
Servicing Fee
|
$
|
589,438.75
|
$
|
589,438.75
|
$
|
0.00
|
$
|
0.00
|
$
|
35,570,864.84
|
Interest - Class A-1 Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
35,570,864.84
|
Interest - Class A-2a Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
35,570,864.84
|
Interest - Class A-2b Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
35,570,864.84
|
Interest - Class A-3 Notes
|
$
|
1,401,248.49
|
$
|
1,401,248.49
|
$
|
0.00
|
$
|
0.00
|
$
|
34,169,616.35
|
Interest - Class A-4 Notes
|
$
|
601,213.50
|
$
|
601,213.50
|
$
|
0.00
|
$
|
0.00
|
$
|
33,568,402.85
|
First Priority Principal Payment
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
33,568,402.85
|
Interest - Class B Notes
|
$
|
198,559.25
|
$
|
198,559.25
|
$
|
0.00
|
$
|
0.00
|
$
|
33,369,843.60
|
Second Priority Principal Payment
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
33,369,843.60
|
Interest - Class C Notes
|
$
|
137,329.50
|
$
|
137,329.50
|
$
|
0.00
|
$
|
0.00
|
$
|
33,232,514.10
|
Reserve Account Deposit
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
33,232,514.10
|
Regular Principal Payment
|
$
|
30,776,905.92
|
$
|
30,776,905.92
|
$
|
0.00
|
$
|
0.00
|
$
|
2,455,608.18
|
Additional Trustee and Other Fees/Expenses
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
2,455,608.18
|
Residual Released to Depositor
|
$
|
0.00
|
$
|
2,455,608.18
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
Total
|
$
|
36,160,303.59
|
|
Principal Payment:
|
First Priority Principal Payment
|
$
|
0.00
|
Second Priority Principal Payment
|
$
|
0.00
|
Regular Principal Payment
|
$
|
30,776,905.92
|
Total
|
$
|
30,776,905.92
|
|
IV. NOTEHOLDER PAYMENTS
|
Noteholder Principal Payments
|
Noteholder Interest Payments
|
Total Payment
|
Per $1,000 of
|
Per $1,000 of
|
Per $1,000 of
|
Actual
|
Original Balance
|
Actual
|
Original Balance
|
Actual
|
Original Balance
|
Class A-1 Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
Class A-2a Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
Class A-2b Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
$
|
0.00
|
Class A-3 Notes
|
$
|
30,776,905.92
|
$
|
59.30
|
$
|
1,401,248.49
|
$
|
2.70
|
$
|
32,178,154.41
|
$
|
62.00
|
Class A-4 Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
601,213.50
|
$
|
3.83
|
$
|
601,213.50
|
$
|
3.83
|
Class B Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
198,559.25
|
$
|
4.19
|
$
|
198,559.25
|
$
|
4.19
|
Class C Notes
|
$
|
0.00
|
$
|
0.00
|
$
|
137,329.50
|
$
|
4.35
|
$
|
137,329.50
|
$
|
4.35
|
Total
|
$
|
30,776,905.92
|
$
|
19.49
|
$
|
2,338,350.74
|
$
|
1.48
|
$
|
33,115,256.66
|
$
|
20.97
|
|
Page 2
Ford Credit Auto Owner Trust 2022-C
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
24
|
V. NOTE BALANCE AND POOL INFORMATION
|
Beginning of Period
|
End of Period
|
Balance
|
Note Factor
|
Balance
|
Note Factor
|
Class A-1 Notes
|
$
|
0.00
|
0.0000000
|
$
|
0.00
|
0.0000000
|
Class A-2a Notes
|
$
|
0.00
|
0.0000000
|
$
|
0.00
|
0.0000000
|
Class A-2b Notes
|
$
|
0.00
|
0.0000000
|
$
|
0.00
|
0.0000000
|
Class A-3 Notes
|
$
|
375,334,417.05
|
0.7231320
|
$
|
344,557,511.13
|
0.6638361
|
Class A-4 Notes
|
$
|
157,180,000.00
|
1.0000000
|
$
|
157,180,000.00
|
1.0000000
|
Class B Notes
|
$
|
47,370,000.00
|
1.0000000
|
$
|
47,370,000.00
|
1.0000000
|
Class C Notes
|
$
|
31,570,000.00
|
1.0000000
|
$
|
31,570,000.00
|
1.0000000
|
Total
|
$
|
611,454,417.05
|
0.3872563
|
$
|
580,677,511.13
|
0.3677641
|
|
Pool Information
|
Weighted Average APR
|
3.489
|
%
|
3.503
|
%
|
Weighted Average Remaining Term
|
36.21
|
35.46
|
Number of Receivables Outstanding
|
32,819
|
31,947
|
Pool Balance
|
$
|
707,326,502.27
|
$
|
672,723,537.07
|
Adjusted Pool Balance (Pool Balance - YSOC Amount)
|
$
|
648,906,423.72
|
$
|
617,610,473.33
|
Pool Factor
|
0.4052743
|
0.3854480
|
|
VI. OVERCOLLATERALIZATION INFORMATION
|
Specified Reserve Balance
|
$
|
4,736,842.79
|
Yield Supplement Overcollateralization Amount
|
$
|
55,113,063.74
|
Targeted Overcollateralization Amount
|
$
|
92,046,025.94
|
Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance)
|
$
|
92,046,025.94
|
|
VII. RECONCILIATION OF RESERVE ACCOUNT
|
Beginning Reserve Account Balance
|
$
|
4,736,842.79
|
Reserve Account Deposits Made
|
$
|
0.00
|
Reserve Account Draw Amount
|
$
|
0.00
|
Ending Reserve Account Balance
|
$
|
4,736,842.79
|
Change in Reserve Account Balance
|
$
|
0.00
|
Specified Reserve Balance
|
$
|
4,736,842.79
|
|
Page 3
Ford Credit Auto Owner Trust 2022-C
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
24
|
VIII. NET LOSS AND DELINQUENT RECEIVABLES
|
# of Receivables
|
Amount
|
Current Collection Period Loss:
|
Realized Loss (Charge-Offs)
|
72
|
$
|
537,818.46
|
(Recoveries)
|
60
|
$
|
51,414.98
|
Net Loss for Current Collection Period
|
$
|
486,403.48
|
Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized)
|
0.8252
|
%
|
|
Prior and Current Collection Periods Average Loss:
|
|
Ratio of Net Loss to the Average Pool Balance (annualized)
|
Third Prior Collection Period
|
0.6301
|
%
|
Second Prior Collection Period
|
0.3521
|
%
|
Prior Collection Period
|
0.7960
|
%
|
Current Collection Period
|
0.8459
|
%
|
Four Month Average (Current and Prior Three Collection Periods)
|
0.6560
|
%
|
|
Cumulative Loss:
|
Cumulative Realized Loss (Charge-Offs)
|
1,612
|
$
|
9,215,415.46
|
(Cumulative Recoveries)
|
$
|
1,076,623.55
|
Cumulative Net Loss for All Collection Periods
|
$
|
8,138,791.91
|
Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance
|
0.4663
|
%
|
|
Average Realized Loss for Receivables that have experienced a Realized Loss
|
$
|
5,716.76
|
Average Net Loss for Receivables that have experienced a Realized Loss
|
$
|
5,048.88
|
|
% of EOP Pool Balance
|
# of Receivables
|
Amount
|
Delinquent Receivables:
|
31-60 Days Delinquent
|
1.42
|
%
|
312
|
$
|
9,558,102.19
|
61-90 Days Delinquent
|
0.24
|
%
|
49
|
$
|
1,624,343.82
|
91-120 Days Delinquent
|
0.06
|
%
|
11
|
$
|
387,172.71
|
Over 120 Days Delinquent
|
0.14
|
%
|
27
|
$
|
924,557.78
|
Total Delinquent Receivables
|
1.86
|
%
|
399
|
$
|
12,494,176.50
|
|
Repossession Inventory:
|
Repossessed in the Current Collection Period
|
20
|
$
|
685,369.98
|
Total Repossessed Inventory
|
33
|
$
|
1,116,527.63
|
|
Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables:
|
Second Prior Collection Period
|
0.2461
|
%
|
Prior Collection Period
|
0.2559
|
%
|
Current Collection Period
|
0.2723
|
%
|
Three Month Average
|
0.2581
|
%
|
|
Delinquency Trigger (61+ Delinquent Receivables)
|
Transaction Month
|
Trigger
|
1-12
|
0.80%
|
13-24
|
1.50%
|
25-36
|
2.70%
|
37+
|
4.40%
|
61+ Delinquent Receivables Balance to EOP Pool Balance
|
0.4364
|
%
|
Delinquency Trigger Occurred
|
No
|
Page 4
Ford Credit Auto Owner Trust 2022-C
Monthly Investor Report
|
Collection Period
|
August 2024
|
Payment Date
|
9/16/2024
|
Transaction Month
|
24
|
|
Receivables Granted Extensions in the Current Collection Period:
|
# of Receivables
|
Amount
|
|
1 Month Extended
|
107
|
$3,342,643.81
|
2 Months Extended
|
165
|
$5,455,343.08
|
3+ Months Extended
|
32
|
$927,536.23
|
|
Total Receivables Extended
|
304
|
$9,725,523.12
|
IX. REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
|
No Activity to report
|
|
Most Recent Form ABS-15G for repurchase demand activity
|
|
Filed by: Ford Motor Credit Company LLC
|
CIK#: 0000038009
|
Date: February 5, 2024
|
|
X. FLOATING RATE BENCHMARK: BENCHMARK TRANSITION
|
Benchmark Transition Event:
|
N/A
|
|
Benchmark Replacement Date:
|
N/A
|
|
Unadjusted Benchmark Replacement:
|
N/A
|
|
Benchmark Replacement Adjustment:
|
N/A
|
|
Benchmark Replacement Conforming Changes:
|
N/A
|
|
SERVICER CERTIFICATION
THIS REPORT IS ACCURATE IN ALL MATERIAL RESPECTS.
Ford Motor Credit Company LLC
/s/ Ryan M. Hershberger
Assistant Treasurer
Page 5