EX-20 4 a2076989zex-20.htm EXHIBIT 20
QuickLinks -- Click here to rapidly navigate through this document


EXHIBIT 20

TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of April 15, 2002 for the Collection Period
March 1, 2002 through March 31, 2002

 
   Total
   Class A-1
Balance
   Class A-2
Balance
   Class A-3
Balance
   Class A-4
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 15, 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   $ 856,440,482.80   $ 0.00   $ 321,440,482.80   $ 360,000,000.00   $ 175,000,000.00  
  Receivables Pool Balance   $ 901,383,526.80                          
  Securities Pool Factor     0.58949401     0.00000000     0.64288097     1.00000000     1.00000000  
  Number of Contracts     90,300                          
  Weighted Average Coupon     9.273 %                        
  Weighted Average Remaining Term     37.60   months                        
  Precompute and Simple Interest Advances   $ 3,667,046.88                          
  Payahead Account Balance   $ 1,444,151.99                          
 
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   $ 808,085,619.46   $ 0.00   $ 273,085,619.46   $ 360,000,000.00   $ 175,000,000.00  
  Receivables Pool Balance   $ 853,028,663.46                          
  Securities Pool Factor     0.55621102     0.00000000     0.54617124     1.00000000     1.00000000  
  Number of Contracts     87,314                          
  Weighted Average Coupon     9.286 %                        
  Weighted Average Remaining Term     36.86   months                        
  Precompute and Simple Interest Advances   $ 3,734,778.02                          
  Payahead Account Balance   $ 1,474,766.27                          
 
Interest Shortfall
 
$
0.00
 
$
0.00
 
$
0.00
 
$
0.00
 
$
0.00
 
  Principal Shortfall   $ 0.00   $ 0.00   $ 0.00   $ 0.00   $ 0.00  
 

Reserve Fund
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Initial Deposit Amount                           $ 3,744,458.00  
  Specified Reserve Fund Percentage                             0.75 %
  Specified Reserve Fund Amount                           $ 7,488,915.22  
  Specified Reserve Fund Percentage
 (if Condition i or ii met)		                             5.50 %
  Specified Reserve Fund Amount
 (if Condition i or ii met)		                           $ 44,444,709.07  
 
Beginning Balance
 
 
 
 
 
 
 
 
 
 
 
 
 
$
7,488,915.22
 
  Total Withdraw                           $ 0.00  
  Amount Available for Deposit to the Reserve Fund                           $ 2,014,334.67  
                           
 
  Reserve Fund Balance Prior to Release                           $ 9,503,249.89  
  Reserve Fund Required Amount                           $ 7,488,915.22  
  Reserve Fund Release to Seller                           $ 2,014,334.67  
                           
 
  Ending Reserve Fund Balance                           $ 7,488,915.22  

Page 1

Liquidation of Charge-offs and Repossessions

 
   Vehicles
   Amount
  
  Liquidated Contracts   123        
  Gross Principal Balance of Liquidated Receivables       $ 1,366,379.34  
  Net Liquidation Proceeds Received During the Collection Period       $ (708,673.43 )
  Recoveries on Previously Liquidated Contracts       $ (21,312.85 )
       
 
  Aggregate Credit Losses for the Collection Period       $ 636,393.06  
       
 

 
 
 
 

 
  Cumulative Credit Losses for all Periods   753   $ 3,494,140.68  
       
 
  Repossessed in Current Period   64        

 
 
 
 
 
 
 
Ratio of Net Credit Losses to the Average Pool Balance
for Each Collection Period:

   Annualized Average
Charge-Off Rate
  Second Preceding Collection Period   0.49%
  First Preceding Collection Period   0.54%
  Current Collection Period   0.87%
Condition (i) (Charge-off Rate)    
Three Month Average   0.63%
Charge-off Rate Indicator (> 1.25%)   condition not met

Delinquent and Repossessed Contracts

 
   Percent
   Contracts
   Percent
   Amount
  
  31-60 Days Delinquent   1.97 % 1,718   2.05 % $ 17,483,367.38  
  61-90 Days Delinquent   0.36 % 313   0.42 % $ 3,542,615.93  
  Over 90 Days Delinquent   0.43 % 373   0.51 % $ 4,336,065.86  
       
     
 
Total Delinquencies       2,404       $ 25,362,049.17  
       
     
 
  Repossessed Vehicle Inventory       165*            
  * 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                 0.77 %
  First Preceding Collection Period                 0.76 %
  Current Collection Period                 0.79 %


 
Condition (ii) (Delinquency Percentage)                    
Three Month Average                 0.77 %
Delinquency Percentage Indicator (> 1.25%)           condition not met  

Page 2


TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of April 15, 2002 for the Collection Period
March 1, 2002 through March 31, 2002

 
    
   Class A-1
   Class A-2
   Class A-3
   Class A-4
 
   Total
   Balance
   Balance
   Balance
   Balance
Collections                              
  Principal Payments Received   $ 46,988,484.00                        
  Interest Payments Received   $ 6,873,840.05                        
  Net Precomputed Payahead Amount   ($ 30,614.28 )                      
  Aggregate Net Liquidation Proceeds Received   $ 729,986.28                        
  Principal on Repurchased Contracts   $ 0.00                        
  Interest on Repurchased Contracts   $ 0.00                        
   
                       
  Total Collections   $ 54,561,696.05                        
  Net Simple Interest Advance Amount   $ 214,605.98                        
  Net Precomputed Advance Amount   ($ 146,874.84 )                      
   
                       
  Total Available Amount   $ 54,629,427.19                        

Amounts Due
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Servicing Fee   $ 751,152.94                        
  Accrued and Unpaid Interest   $ 3,509,076.24                        
  Principal   $ 48,354,863.34                        
  Reserve Fund   $ 2,014,334.67                        
   
                       
  Total Amount Due   $ 54,629,427.19                        

Actual Distributions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Servicing Fee   $ 751,152.94                        
  Interest   $ 3,509,076.24   $ 0.00   $ 1,222,009.57   $ 1,505,400.00   $ 781,666.67
  Principal   $ 48,354,863.34   $ 0.00   $ 48,354,863.34   $ 0.00   $ 0.00
  Reserve Fund   $ 2,014,334.67                        
   
 
 
 
 
  Total Amount Distributed   $ 54,629,427.19   $ 0.00   $ 49,576,872.91   $ 1,505,400.00   $ 781,666.67

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Monthly Information by Type of Loan

Precomputed Contracts          
  Scheduled Principal Collections       $ 4,211,021.81
  Prepayments in Full   583 contracts   $ 2,088,516.73
  Repurchased Receivables Principal       $ 0.00
  Payments Behind/Ahead on Repurchased Receivables       $ 0.00
  Total Collections       $ 7,248,025.16
  Advances—Reimbursement of Previous Advances       $ 146,874.84
  Advances—Current Advance Amount       $ 0.00
  Payahead Account—Payments Applied       $ 0.00
  Payahead Account—Additional Payaheads       $ 30,614.28

Simple Interest Contracts
 
 
 
 
 
  Collected Principal       $ 24,519,935.48
  Prepayments in Full   2280 contracts   $ 16,169,009.98
  Collected Interest       $ 5,925,353.43
  Repurchased Receivables Principal       $ 0.00
  Repurchased Receivables Interest       $ 0.00
  Advances—Reimbursement of Previous Advances       $ 0.00
  Advances—Current Advance Amount       $ 214,605.98

Page 3


TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of April 15, 2002 for the Collection Period of
March 1 through March 31, 2002

 
   Class A2
Balance
   Class A3
Balance
   Class A4
Balance
  
Note Rates for April 15, 2002 Payment Date              
One Month LIBOR   1.90000%   1.90000%   1.90000%  
Spread   0.06000%   0.08000%   0.10000%  
   
 
 
 
Note Rates:   1.96000%   1.98000%   2.00000%  

Number of Days in Interest Period (Days)
 
31
 
31
 
31
 

Interest Payments
 
 
 
 
 
 
 
Interest Calculation for Current Interest Period   542,520.10   613,800.00   301,388.89  
At Certificate Payment Date:              
  Due to Swap Counterparty (Swap Payments Outgoing)   1,222,009.57   1,505,400.00   781,666.67  
  Paid to Swap Counterparty (Swap Payments Outgoing)   1,222,009.57   1,505,400.00   781,666.67  
  Proration %                                                                               0.00%              
  Interest Due to Noteholders (Swap Payments Incoming)   542,520.10   613,800.00   301,388.89  
  Interest Payment to Noteholders (Swap Payments Incoming)   542,520.10   613,800.00   301,388.89  

Net Swap Payment due to / (received by) Swap Counterparty
 
(679,489.47
)
(891,600.00
)
(480,277.78
)

 
 
 
 
 
 
 
 
Principal Payments              
Beginning Notional Balance   321,440,482.80   360,000,000.00   175,000,000.00  
Principal Payment due to Investors   48,354,863.34   —   —  
Ending Notional Balance   273,085,619.46   360,000,000.00   175,000,000.00  

 
 
 
 
 
 
 
 
Swap Termination Payment   N/A   N/A   N/A  

 
 
 
 
 
 
 
 
Note Rates for May 15, 2002 Payment Date              
One Month LIBOR   1.86000%   1.86000%   1.86000%  
Spread   0.06000%   0.08000%   0.10000%  
   
 
 
 
Note Rates:   1.92000%   1.94000%   1.96000%  

Number of Days in Interest Period (Days)
 
30
 
30
 
30
 

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		    

 
 
 

Page 4



QuickLinks

EXHIBIT 20
TOYOTA MOTOR CREDIT CORPORATION SERVICER'S Report
TOYOTA MOTOR CREDIT CORPORATION SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust Distribution Date of April 15, 2002 for the Collection Period March 1, 2002 through March 31, 2002
TOYOTA MOTOR CREDIT CORPORATION Servicer's Certificate—Toyota Auto Receivables 2001-B Owner Trust Distribution Date of April 15, 2002 for the Collection Period of March 1 through March 31, 2002