8-K

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 15, 2001

Toyota Auto Finance Receivables LLC on Behalf of the
Toyota Auto Receivables 2001-B Owner Trust
(Exact name of registrant as specified in its charter)

California (State or other jurisdiction of incorporation)	333-58164 (Commission File Number)	33-4836519 (IRS Employer Identification No.)
Toyota Auto Finance Receivables LLC 19001 South Western Avenue Torrance, California (Address of principal executive offices)		90509 (Zip Code)

Registrant's telephone number, including area code: (310) 468-7333

Exhibit Index is on Page 2

Page 1 of 3

Item 5. Other Events

    On June 15, 2001, the principal and interest collected during the preceding calendar month, net of certain adjustments as provided for in the Sale and Servicing Agreement dated as of May 1, 2001 ("Agreement"), between Toyota Auto Finance Receivables LLC, as "Seller", Toyota Motor Credit Corporation, as "Servicer", and Toyota Auto Receivables 2001-B Owner Trust, as "Issuer", were distributed to the holders of Notes and Certificates issued by Toyota Auto Receivables 2001-B Owner Trust (the "Securityholders"). In accordance with the Agreement, the Servicer's Certificate, as defined in the Agreement, was furnished to the Owner Trustee for the benefit of the Securityholders and was distributed by the Owner Trustee to the Securityholders. A copy of the Servicer's Certificate for the collection period of April 1, 2001 through May 31, 2001 is filed as Exhibit 20 to this Current Report on Form 8-K.

Item 7(c). Exhibits

Exhibit Number	Description
20	Servicer's Certificate for the collection period of April 1, 2001 through May 31, 2001.

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SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf of the undersigned hereunto duly authorized.

	TOYOTA AUTO RECEIVABLES 2001-B OWNER TRUST
	By:	TOYOTA MOTOR CREDIT CORPORATION, AS SERVICER
Date: June 29, 2001	By:	/s/ GEORGE E. BORST George E. Borst President and Chief Executive Officer

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Item 5. Other Events
Item 7(c). Exhibits

SIGNATURES

EX-20

TOYOTA MOTOR CREDIT CORPORATION
Servicer's Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of June 15, 2001 for the Collection Period April 1, 2001 through May 31, 2001

					Class A-1			Class A-2			Class A-3			Class A-4
		Total			Balance			Balance			Balance			Balance
Pool Data—Original Deal Parameters
	Securities Balance	$	1,452,840,000.00		$	417,840,000.00		$	500,000,000.00		$	360,000,000.00		$	175,000,000.00
	Receivables Pool Balance	$	1,497,783,044.00
	Principal Factor		1.00000000			1.00000000			1.00000000			1.00000000			1.00000000
	Rate					4.300	%		4.562	%		5.018	%		5.360	%
	Final Scheduled Payment Date					May 15, 2002			December 15, 2003			March 15, 2005			October 17, 2007
	Number of Contracts		119,098
	Weighted Average Coupon		9.137	%
	Weighted Average Remaining Term		45.70	months
	Servicing Fee Rate		1.00	%
Pool Data—Prior Month
	Securities Balance	$	1,452,840,000.00		$	417,840,000.00		$	500,000,000.00		$	360,000,000.00		$	175,000,000.00
	Receivables Pool Balance	$	1,497,783,044.00
	Securities Pool Factor		1.00000000			1.00000000			1.00000000			1.00000000			1.00000000
	Number of Contracts		119,098
	Weighted Average Coupon		9.137	%
	Weighted Average Remaining Term		45.70	months
	Precompute and Simple Interest Advances	$	906,450.28
	Payahead Account Balance	$	1,280,781.26
	Supplemental Servicing Fee Received	$	0.00
	Interest Shortfall	$	0.00		$	0.00		$	0.00		$	0.00		$	0.00
	Principal Shortfall	$	0.00		$	0.00		$	0.00		$	0.00		$	0.00
Pool Data—Current Month
	Securities Balance	$	1,332,309,329.46		$	297,309,329.46		$	500,000,000.00		$	360,000,000.00		$	175,000,000.00
	Receivables Pool Balance	$	1,377,252,373.46
	Securities Pool Factor		0.91703789			0.71153870			1.00000000			1.00000000			1.00000000
	Number of Contracts		114,850
	Weighted Average Coupon		9.155	%
	Weighted Average Remaining Term		44.11	months
	Precompute and Simple Interest Advances	$	2,954,863.06
	Payahead Account Balance	$	1,540,963.85
	Supplemental Servicing Fee Received	$	94,277.98
	Interest Shortfall	$	0.00		$	0.00		$	0.00		$	0.00		$	0.00
	Principal Shortfall	$	0.00		$	0.00		$	0.00		$	0.00		$	0.00

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Reserve Fund
	Initial Deposit Amount	$	3,744,458.00
	Specified Reserve Fund Percentage		0.75%
	Specified Reserve Fund Amount	$	10,329,392.80
	Specified Reserve Fund Percentage (if Condition i or ii met)		5.50%
	Specified Reserve Fund Amount (if Condition i or ii met)	$	73,277,013.12
	Beginning Balance	$	3,744,458.00
	Total Withdraw	$	0.00
	Amount Available for Deposit to the Reserve Fund	$	15,870,759.83
	Reserve Fund Balance Prior to Release	$	19,615,217.83
	Reserve Fund Required Amount	$	10,329,392.80
	Reserve Fund Release to Seller	$	9,285,825.03
	Ending Reserve Fund Balance	$	10,329,392.80

Liquidation of Charge-offs and Repossessions

	Vehicles	Amount
Liquidated Contracts	4
Gross Principal Balance of Liquidated Receivables		$	45,814.84
Net Liquidation Proceeds Received During the Collection Period		$	(33,981.24	)
Recoveries on Previously Liquidated Contracts		$	0.00
Aggregate Credit Losses for the Collection Period		$	11,833.60
Cumulative Credit Losses for all Periods	4	$	11,833.60
Repossessed in Current Period	52

Ratio of Net Credit Losses to the Average Pool Balance for Each Collection Period:		Annualized Average Charge-Off Rate
	Second Preceding Collection Period	0.00%
	First Preceding Collection Period	0.00%
	Current Collection Period	0.01%
Condition (i) (Charge-off Rate)
Three Month Average		0.01%
Charge-off Rate Indicator (> 1.25%)		condition not met

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Delinquent and Repossessed Contracts

	Percent		Contracts		Percent		Amount
31-60 Days Delinquent	1.10	%	1,264		1.02	%	$	14,106,846.25
61-90 Days Delinquent	0.10	%	119		0.11	%	$	1,569,868.67
Over 90 Days Delinquent	0.00	%	3		0.00	%	$	28,224.86
Total Delinquencies			1,386				$	15,704,939.78
Repossessed Vehicle Inventory			48	*
* Included with delinquencies above

Ratio of Number of Contracts Delinquent 60 Days or More to the Outstanding Number of Receivables as of Each Collection Period (Includes Repossessions):
	Second Preceding Collection Period	0.00%
	First Preceding Collection Period	0.00%
	Current Collection Period	0.11%
Condition (ii) (Delinquency Percentage)
Three Month Average		0.04%
Delinquency Percentage Indicator (> 1.25%)		condition not met

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					Class A-1		Class A-2		Class A-3		Class A-4
		Total			Balance		Balance		Balance		Balance
Collections
	Principal Payments Received	$	120,477,962.49
	Interest Payments Received	$	22,282,445.07
	Net Precomputed Payahead Amount	$	(260,182.59	)
	Aggregate Net Liquidation Proceeds Received	$	33,981.24
	Principal on Repurchased Contracts	$	0.00
	Interest on Repurchased Contracts	$	0.00
	Total Collections	$	142,534,206.21
	Net Simple Interest Advance Amount	$	1,812,130.91
	Net Precomputed Advance Amount	$	236,281.87
	Total Available Amount	$	144,582,618.99
Amounts Due
	Servicing Fee	$	2,446,119.95
	Accrued and Unpaid Interest	$	5,735,068.67
	Principal	$	120,530,670.54
	Reserve Fund	$	15,870,759.83
	Total Amount Due	$	144,582,618.99
Actual Distributions
	Servicing Fee	$	2,446,119.95
	Interest	$	5,735,068.67		$	1,547,168.67	$	1,900,833.33	$	1,505,400.00	$	781,666.67
	Principal	$	120,530,670.54		$	120,530,670.54	$	0.00	$	0.00	$	0.00
	Reserve Fund	$	15,870,759.83
	Total Amount Distributed	$	144,582,618.99		$	122,077,839.21	$	1,900,833.33	$	1,505,400.00	$	781,666.67

Monthly Information by Type of Loan
Precomputed Contracts
	Scheduled Principal Collections		$	11,562,040.29
	Prepayments in Full	700 contracts	$	5,633,251.48
	Repurchased Receivables Principal		$	0.00
	Payments Behind/Ahead on Repurchased Receivables		$	0.00
	Total Collections		$	19,979,920.29
	Advances—Reimbursement of Previous Advances		$	0.00
	Advances—Current Advance Amount		$	236,281.87
	Payahead Account—Payments Applied		$	0.00
	Payahead Account—Additional Payaheads		$	260,182.59
Simple Interest Contracts
	Collected Principal		$	57,317,021.76
	Prepayments in Full	3541 contracts	$	45,965,648.96
	Collected Interest		$	19,497,816.55
	Repurchased Receivables Principal		$	0.00
	Repurchased Receivables Interest		$	0.00
	Advances—Reimbursement of Previous Advances		$	0.00
	Advances—Current Advance Amount		$	1,812,130.91

Page 4

TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of June 15, 2001 for the Collection Period April 1, 2001 through May 31, 2001

				Class A2		Class A3		Class A4
				Balance		Balance		Balance
Note Rates for June 15, 2001 Payment Date
One Month				4.12250	%	4.12250	%	4.12250	%
LIBOR Spread				0.06000	%	0.08000	%	0.10000	%
Note Rates:				4.18250	%	4.20250	%	4.22250	%
Number of Days in Interest Period (Days)				31		31		31
Interest Payments
Interest Calculation for Current Interest Period				1,800,798.61		1,302,775.00		636,307.29
At Certificate Payment Date:
	Due to Swap Counterparty (Swap Payments Outgoing)			1,900,833.33		1,505,400.00		781,666.67
	Paid to Swap Counterparty (Swap Payments Outgoing)			1,900,833.33		1,505,400.00		781,666.67
	Proration %	0.00	%
	Interest Due to Noteholders (Swap Payments Incoming)			1,800,798.61		1,302,775.00		636,307.29
	Interest Payment to Noteholders (Swap Payments Incoming)			1,800,798.61		1,302,775.00		636,307.29
Net Swap Payment due to / (received by) Swap Counterparty				(100,034.72	)	(202,625.00	)	(145,359.38	)
Principal Payments
Principal Payment due to Investors				—		—		—
Ending Notional Balance				500,000,000.00		360,000,000.00		175,000,000.00
Swap Termination Payment				N/A		N/A		N/A
Note Rates for July 16, 2001 Payment Date
One Month LIBOR				TBD		TBD		TBD
Spread				0.06000	%	0.08000	%	0.10000	%
Note Rates:				TBD		TBD		TBD
Number of Days in Interest Period (Days)				31		31		31

I hereby certify to the best of my knowledge that the report provided is true and correct.

/s/ ANGELA BROWN Angela Brown
ABS Accounting Manager

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