EX-20 4 a2076996zex-20.htm EXHIBIT 20
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EXHIBIT 20


TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2002-A 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   $ 1,510,602,000.00   $ 459,670,000.00   $ 387,000,000.00   $ 429,000,000.00   $ 234,932,000.00  
  Receivables Pool Balance   $ 1,557,322,188.00                          
  Principal Factor     1.00000000     1.00000000     1.00000000     1.00000000     1.00000000  
  Rate           1.69375 %   2.392 %   3.4440 %   4.000 %
  Final Scheduled Payment Date           January 15, 2003     July 15, 2004     January 16, 2006     July 15, 2008  
  Number of Contracts     106,057                          
  Weighted Average A.P.R.     7.24 %                        
  Weighted Average Remaining Term     49.86   months                        
  Servicing Fee Rate     1.00 %                        

Pool Data—Prior Month
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Securities Balance   $ 1,352,195,092.02   $ 301,263,092.02   $ 387,000,000.00   $ 429,000,000.00   $ 234,932,000.00  
  Receivables Pool Balance   $ 1,398,915,280.02                          
  Securities Pool Factor     0.89513657     0.65538994     1.00000000     1.00000000     1.00000000  
  Number of Contracts     101,419                          
  Weighted Average A.P.R.     7.24 %                        
  Weighted Average Remaining Term     47.52   months                        
  Precompute and Simple Interest Advances   $ 2,247,377.99                          
  Payahead Account Balance   $ 564,236.00                          
  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   $ 1,299,573,754.55   $ 248,641,754.55   $ 387,000,000.00   $ 429,000,000.00   $ 234,932,000.00  
  Receivables Pool Balance   $ 1,346,293,942.55                          
  Securities Pool Factor     0.86030189     0.54091360     1.00000000     1.00000000     1.00000000  
  Number of Contracts     99,765                          
  Weighted Average A.P.R.     7.25 %                        
  Weighted Average Remaining Term     46.71   months                        
  Precompute and Simple Interest Advances   $ 2,652,506.85                          
  Payahead Account Balance   $ 543,900.04                          
 
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 Account
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Initial Deposit Amount                           $ 0.00  
  Specified Reserve Account Percentage                             0.00 %
  Specified Reserve Account Amount                           $ 0.00  
  Specified Reserve Account Percentage
 (if Condition i or ii met)		                             5.50 %
  Specified Reserve Account Amount
 (if Condition i or ii met)		                           $ 71,476,556.50  
 
Beginning Balance
 
 
 
 
 
 
 
 
 
 
 
 
 
$
0.00
 
  Total Withdraw                           $ 0.00  
  Amount Available for Deposit to the Reserve Account                           $ 4,031,750.58  
                           
 
  Reserve Account Balance Prior to Release                           $ 4,031,750.58  
  Reserve Account Required Amount                           $ 0.00  
  Reserve Account Release to Seller                           $ 4,031,750.58  
                           
 
  Ending Reserve Account Balance                           $ 0.00  
 

Revolving Liquidity Note
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Total Amount Available                           $ 7,786,611.00  
 
Beginning of Period Balance
 
 
 
 
 
 
 
 
 
 
 
 
 
$
0.00
 
  Draws                           $ 0.00  
  Reimbursements                           $ 0.00  
                           
 
  End of Period Balance                           $ 0.00  
 
Current Period Undrawn Amount
 
 
 
 
 
 
 
 
 
 
 
 
 
$
7,786,611.00
 
 

Liquidation of Charge-offs and Repossessions

 
   Vehicles
   Amount
  
  Liquidated Contracts   34        
  Gross Principal Balance of Liquidated Receivables       $ 410,082.31  
  Net Liquidation Proceeds Received During the Collection Period       ($ 232,457.74)  
  Recoveries on Previously Liquidated Contracts       ($ 2,312.08)  
       
 
  Aggregate Credit Losses for the Collection Period       $ 175,312.49  
       
 
             
       
 
  Cumulative Credit Losses for all Periods   54   $ 255,358.15  
       
 
  Repossessed in Current Period   32        

Ratio of Net Credit Losses to the Average Pool Balance
for Each Collection Period:
 
 
 
 
Annualized Average
Charge-Off Rate
 
    Second Preceding Collection Period         0.01 %
    First Preceding Collection Period         0.06 %
    Current Collection Period         0.15 %
 
Condition (i) (Charge-off Rate)            
Three Month Average         0.07 %
Charge-off Rate Indicator (> 2.25%)         condition not met  
 

Page 1

Delinquent and Repossessed Contracts

 
   Percent
   Contracts
   Percent
   Amount
  
  31-60 Days Delinquent   1.04 % 1,036   1.00 % $ 13,446,349.93  
  61-90 Days Delinquent   0.13 % 125   0.12 % $ 1,639,170.63  
  Over 90 Days Delinquent   0.09 % 86   0.09 % $ 1,181,954.75  
       
     
 
  Total Delinquencies       1,247       $ 16,267,475.31  
       
     
 

Repossessed Vehicle Inventory
 
 
 
61*
 
 
 
 
 
 
  * 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                 0.16 %
  First Preceding Collection Period                 0.17 %
  Current Collection Period                 0.21 %
 
Condition (ii) (Delinquency Percentage)                    
Three Month Average                 0.18 %
Delinquency Percentage Indicator (> 2.25%)           condition not met  

Page 2


TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2002-A 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
Collections                              
  Principal Payments Received   $ 52,211,255.16                        
  Interest Payments Received   $ 8,172,511.96                        
  Net Precomputed Payahead Amount   $ 20,335.96                        
  Aggregate Net Liquidation Proceeds Received   $ 234,769.82                        
  Principal on Repurchased Contracts   $ 0.00                        
  Interest on Repurchased Contracts   $ 0.00                        
   
                       
  Total Collections   $ 60,638,872.90                        
  Net Simple Interest Advance Amount   $ 453,939.50                        
  Net Precomputed Advance Amount   $ (48,810.64 )                      
   
                       
  Total Available Amount   $ 61,044,001.76                        

Amounts Due
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Servicing Fee   $ 1,165,762.73                        
  Accrued and Unpaid Interest   $ 3,225,150.98                        
  Principal   $ 52,621,337.47                        
  Reserve Fund   $ 4,031,750.58                        
   
                       
  Total Amount Due   $ 61,044,001.76                        

Actual Distributions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Servicing Fee   $ 1,165,762.73                        
  Interest   $ 3,225,150.98   $ 439,394.31   $ 771,420.00   $ 1,231,230.00   $ 783,106.67
  Principal   $ 52,621,337.47   $ 52,621,337.47   $ 0.00   $ 0.00   $ 0.00
  Reserve Fund   $ 4,031,750.58                        
   
 
 
 
 
  Total Amount Distributed   $ 61,044,001.76   $ 53,060,731.78   $ 771,420.00   $ 1,231,230.00   $ 783,106.67
           
Monthly Information by Type of Loan          

Precomputed Contracts
 
 
 
 
 
  Scheduled Principal Collections       $ 1,667,444.11
  Prepayments in Full   132 contracts   $ 677,344.41
  Repurchased Receivables Principal       $ 0.00
  Payments Behind/Ahead on Repurchased Receivables       $ 0.00
  Total Collections       $ 2,643,246.29
  Advances—Reimbursement of Previous Advances       $ 48,810.64
  Advances—Current Advance Amount       $ 0.00
  Payahead Account—Payments Applied       $ 20,335.96
  Payahead Account—Additional Payaheads       $ 0.00

Simple Interest Contracts
 
 
 
 
 
  Collected Principal       $ 33,015,544.13
  Prepayments in Full   1488 contracts   $ 16,850,922.51
  Collected Interest       $ 7,874,054.19
  Repurchased Receivables Principal       $ 0.00
  Repurchased Receivables Interest       $ 0.00
  Advances—Reimbursement of Previous Advances       $ 0.00
  Advances—Current Advance Amount       $ 453,939.50

Page 3


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

 
   Class A2
   Class A3
  
 
   Balance
   Balance
  
Note Rates for April 15, 2002 Payment Date          
One Month LIBOR   1.90000%   1.90000%  
Spread   0.05000%   0.06000%  
   
 
 
Note Rates:   1.95000%   1.96000%  

Number of Days in Interest Period (Days)
 
31
 
31
 

Interest Payments
 
 
 
 
 
Interest Calculation for Current Interest Period   649,837.50   724,056.67  
At Certificate Payment Date:          
  Due to Swap Counterparty (Swap Payments Outgoing)   771,420.00   1,231,230.00  
  Paid to Swap Counterparty (Swap Payments Outgoing)   771,420.00   1,231,230.00  
  Proration %                                                                               0.00%          
  Interest Due to Noteholders (Swap Payments Incoming)   649,837.50   724,056.67  
  Interest Payment to Noteholders (Swap Payments Incoming)   649,837.50   724,056.67  

Net Swap Payment due to / (received by) Swap Counterparty
 
(121,582.50
)
(507,173.33
)
           

Principal Payments
 
 
 
 
 
Principal Payment due to Investors   —   —  
Ending Notional Balance   387,000,000.00   429,000,000.00  

Swap Termination Payment
 
N/A
 
N/A
 

Note Rates for May 15, 2002 Payment Date
 
 
 
 
 
One Month LIBOR   1.86000%   1.86000%  
Spread   0.05000%   0.06000%  
   
 
 
Note Rates:   1.91000%   1.92000%  

Number of Days in Interest Period (Days)
 
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



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