EX-99.1 2 d56036dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

 

Servicer’s Certificate

for the Collection Period May 01, 2025 through May 31, 2025

for Payment Date of June 16, 2025

Toyota Auto Receivables 2024-A Owner Trust

Toyota Auto Finance Receivables, LLC

SELLER

Toyota Motor Credit Corporation

SERVICER

 

Collection Period

   31    

30/360 Days

    30

Interest Accrual Period

   32    

Actual/360 Days

    32

 

 

 

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     $39,328,803.14       0.2497067       $0.00       $6,568,366.83       $3,718,750.01       $29,041,686.30       0.1843917  
  A-2b       $472,500,000.00     12/15/26     $117,986,409.42       0.2497067       $0.00       $19,705,100.47       $11,156,250.05       $87,125,058.90       0.1843917  
  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         $932,315,212.56         $0.00       $26,273,467.30       $14,875,000.06       $891,166,745.20       0.5092381  
 

 

 

      

 

 

      

 

 

  

 

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%       $168,130.63       $0.00       $168,130.63       $0.00       $10,455,247.47  
  A-2b       4.68228%       $491,062.58       $0.00       $491,062.58       $0.00       $31,352,413.10  
  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         $3,597,411.96       $0.00       $3,597,411.96       $0.00       $44,745,879.32  
   

 

 

  

 

 Credit Enhancement

 

Reserve Account         Yield Supplement Overcollateralization Amount   

Initial Deposit Amount

      $4,375,000.02       

Beginning Period Amount

      $60,801,397.41  

Specified Reserve Account Amount

      $4,375,000.02       

Increase/(Decrease)

      $(4,033,231.91 ) 

Beginning Balance

      $4,375,000.02       

Ending Period Amount

      $56,768,165.50  

Withdrawals

      $0.00          

Amount Available for Deposit

      $19,159,529.09        Overcollateralization   

Amount Deposited to the Reserve Account

      $0.00          

Reserve Account Balance Prior to Release

      $4,375,000.02       

Adjusted Pool Balance

      $906,041,745.26  

Reserve Account Required Amount

      $4,375,000.02       

Total Note Balance

      $891,166,745.20  

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 May 01, 2025 through May 31, 2025

for Payment Date of June 16, 2025

Toyota Auto Receivables 2024-A Owner Trust

Toyota Auto Finance Receivables, LLC

SELLER

Toyota Motor Credit Corporation

SERVICER

 

Collection Period

   31    

30/360 Days

    30

Interest Accrual Period

   32    

Actual/360 Days

    32

 

 

 Liquidations of Charge-offs and Repossessions

 

          Cumulative  
     Current Period Only          Current Period            Prior Period          Two Periods Prior        Three Periods Prior   

Number of Liquidated Receivables

     32       577       545       506       465  

Gross Principal of Liquidated Receivables

     $650,842.94       $15,343,397.87       $14,692,554.93       $13,734,133.24       $12,602,398.36  

Principal of Repurchased Contracts, previously charged-off

     $0.00       $(13,698.02 )      $(13,698.02 )      $(13,698.02 )      $(13,698.02 ) 

Net Liquidation Proceeds Received During the Collection Period

     $(182,657.66 )      $(2,200,686.03 )      $(2,018,028.37 )      $(1,726,623.87 )      $(1,513,722.16 ) 

Recoveries on Previously Liquidated Contracts

       $(601,621.76 )        $(6,028,648.73 )         $(5,427,026.97 )        $(4,691,584.69 )        $(4,454,994.75 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Credit Losses

     $(133,436.48 )      $7,100,365.09       $7,233,801.57       $7,302,226.66       $6,619,983.43  

Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool)

       0.80445%       0.75984%       0.70546%       0.64830%  

Number of Accounts with Liquidation Proceeds or Recoveries

       544       508       463       407  

Ratio of Aggregate Net Losses to Average Portfolio Balance

       0.51050%       0.51084%       0.50655%       0.45116%  

Number of Assets Experiencing a Net Loss

       508       485       455       418  

Net Credit Losses for Assets Experiencing a Loss

       $7,118,703.31       $7,248,723.47       $7,309,994.40       $6,627,473.47  

Average Net Loss on all assets that have Experienced a Net Loss

       $14,013.20       $14,945.82       $16,065.92       $15,855.20  

Cumulative Net Loss Ratio

       0.37205%       0.37904%       0.38262%       0.34687%  

Repossessed in Current Period

     15 vehicles        

 

 Pool Data

 

         Original             Prior Month           Current Month                      

Receivables Pool Balance

     $1,908,468,799.65       $1,007,991,610.03       $962,809,910.76    

Number of Contracts

     71,726       51,426       50,340    

Weighted Average APR

     5.37%       5.48%       5.49%    

Weighted Average Remaining Term (Months)

     54.51       39.37       38.49    

 

Page 2 of 5

Servicer’s Certificate

for the Collection Period May 01, 2025 through May 31, 2025

for Payment Date of June 16, 2025

Toyota Auto Receivables 2024-A Owner Trust

Toyota Auto Finance Receivables, LLC

SELLER

Toyota Motor Credit Corporation

SERVICER

 

Collection Period

   31    

30/360 Days

    30

Interest Accrual Period

   32    

Actual/360 Days

    32

 

 

 Collections

 

Principal Payments Received

      $29,320,016.48  

Prepayments in Full

      $15,210,675.85  

Interest Payments Received

      $4,554,782.08  

Aggregate Net Liquidation Proceeds

      $784,279.42  

Interest on Repurchased Contracts

      $483.53  
  

 

 

  

Total Collections

      $49,870,237.36  

Principal of Repurchased Contracts

      $164.00  

Principal of Repurchased Contracts, prev charged-off

      $0.00  

Adjustment on Repurchased Contracts

      $0.00  
  

 

 

  

Total Repurchased Amount

      $164.00  
  

Total Available Collections

      $49,870,401.36  

 

 Distributions

 

   

Calculated Amount

      

Amount Paid

      

Shortfall

Servicing Fee

   $839,993.01     $839,993.01     $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

   $168,130.63     $168,130.63     $0.00

Interest - Class A-2b Notes

   $491,062.58     $491,062.58     $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

   $26,273,467.30     $26,273,467.30     $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

   $4,284,529.03     $4,284,529.03     N/A

 

Page 3 of 5

Servicer’s Certificate

for the Collection Period May 01, 2025 through May 31, 2025

for Payment Date of June 16, 2025

Toyota Auto Receivables 2024-A Owner Trust

Toyota Auto Finance Receivables, LLC

SELLER

Toyota Motor Credit Corporation

SERVICER

 

Collection Period

   31    

30/360 Days

    30

Interest Accrual Period

   32    

Actual/360 Days

    32

 

 

 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

     $168,130.63         $1.07         $10,287,116.84         $65.32         $10,455,247.47         $66.39  

Class A-2b Notes

     $491,062.58         $1.04         $30,861,350.52         $65.32         $31,352,413.10         $66.36  

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

     0.82%       414       1.12%       $10,769,753.32  

60-89 Days Delinquent

     0.25%       127       0.35%       $3,361,652.54  

90-119 Days Delinquent

     0.05%       27       0.07%       $682,815.81  

120 or more Days Delinquent

     0.00%       0       0.00%       $0.00  
   

 

 

      

 

 

  

Total Delinquencies

     1.12%       568       1.54%       $14,814,221.67  
   

 

 

      

 

 

  

Total Delinquencies - Prior Period

     1.02%         1.35%    

Total Delinquencies - Two Months Prior

     1.05%         1.37%    

Total Delinquencies - Three Months Prior

     1.10%         1.46%    

Receivables Pool Balance

     $962,809,910.76        

60-Day Delinquency Percentage

     0.42%        

Delinquency Trigger Percentage

     4.65%        

Has a Delinquency Trigger occurred in this Collection Period?

     No        

 

Repossessed Vehicle Inventory*

                  22 vehicles  

* Included with Delinquencies Above

        

 

Page 4 of 5

Servicer’s Certificate

for the Collection Period May 01, 2025 through May 31, 2025

for Payment Date of June 16, 2025

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