EX-20 4 a2071715zex-20.htm EXHIBIT 20
QuickLinks -- Click here to rapidly navigate through this document


Exhibit 20


TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2002-A Owner Trust
Distribution Date of February 15, 2002 for the Collection Period of December 1, 2001 through January 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   $ 1,510,602,000.00   $ 459,670,000.00   $ 387,000,000.00   $ 429,000,000.00   $ 234,932,000.00  
  Receivables Pool Balance   $ 1,557,322,188.00                          
  Securities Pool Factor     1.00000000     1.00000000     1.00000000     1.00000000     1.00000000  
  Number of Contracts     106,057                          
  Weighted Average A.P.R.     7.24 %                        
  Weighted Average Remaining Term     49.86   months                        
  Precompute and Simple Interest Advances   $ 340,584.92                          
  Payahead Account Balance   $ 514,638.08                          
  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   $ 1,399,794,110.28   $ 348,862,110.28   $ 387,000,000.00   $ 429,000,000.00   $ 234,932,000.00  
  Receivables Pool Balance   $ 1,446,514,298.28                          
  Securities Pool Factor     0.92664654     0.75894035     1.00000000     1.00000000     1.00000000  
  Number of Contracts     102,828                          
  Weighted Average A.P.R.     7.24 %                        
  Weighted Average Remaining Term     48.26   months                        
  Precompute and Simple Interest Advances   $ 1,841,732.71                          
  Payahead Account Balance   $ 619,002.25                          
  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)                           $ 76,988,676.07  
 
Beginning Balance
 
 
 
 
 
 
 
 
 
 
 
 
 
$
0.00
 
  Total Withdraw                           $ 0.00  
  Amount Available for Deposit to the Reserve Account                           $ 15,935,919.85  
                           
 
  Reserve Account Balance Prior to Release                           $ 15,935,919.85  
  Reserve Account Required Amount                           $ 0.00  
  Reserve Account Release to Seller                           $ 15,935,919.85  
                           
 
  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   2        
   
       
  Gross Principal Balance of Liquidated Receivables       $ 34,186.86  
  Net Liquidation Proceeds Received During the Collection Period       $ (20,407.98)  
  Recoveries on Previously Liquidated Contracts       $ 0.00  
       
 
  Aggregate Credit Losses for the Collection Period       $ 13,778.88  
       
 
             
       
 
  Cumulative Credit Losses for all Periods   2   $ 13,778.88  
   
 
 
  Repossessed in Current Period   30        
   
       
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         0.00 %
Charge-off Rate Indicator (> 2.50%)         condition not met  
             
 
             

Page 1

Delinquent and Repossessed Contracts

 
   Percent
   Contracts
   Percent
   Amount
  
31-60 Days Delinquent   0.77 % 791   0.70 % $ 10,082,158.40  
61-90 Days Delinquent   0.16 % 163   0.16 % $ 2,260,709.95  
Over 90 Days Delinquent   0.00 % 5   0.00 % $ 54,878.05  
       
     
 
Total Delinquencies       959       $ 12,397,746.40  
       
     
 
Repossessed Vehicle Inventory       36*            
  * 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                 0.01 %
  Current Collection Period                 0.16 %
Condition (ii) (Delinquency Percentage)                    
Three Month Average                 0.06 %
Delinquency Percentage Indicator (> 2.50%)           condition not met  

Page 2


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

 
    
   Class A-1
   Class A-2
   Class A-3
   Class A-4
 
   Total
   Balance
   Balance
   Balance
   Balance
Collections                              
  Principal Payments Received   $ 110,639,172.51                        
  Interest Payments Received   $ 19,089,869.77                        
  Net Precomputed Payahead Amount   ($ 104,364.17 )                      
  Aggregate Net Liquidation Proceeds Received   $ 20,407.98                        
  Principal on Repurchased Contracts   $ 0.00                        
  Interest on Repurchased Contracts   $ 0.00                        
   
                       
  Total Collections   $ 129,645,086.09                        
  Net Simple Interest Advance Amount   $ 1,462,599.73                        
  Net Precomputed Advance Amount   $ 38,548.06                        
   
                       
  Total Available Amount   $ 131,146,233.88                        

Amounts Due
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Servicing Fee   $ 2,549,031.22                        
  Accrued and Unpaid Interest   $ 1,853,393.09                        
  Principal   $ 110,807,889.72                        
  Reserve Fund   $ 15,935,919.85                        
   
                       
  Total Amount Due   $ 131,146,233.88                        

Actual Distributions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Servicing Fee   $ 2,549,031.22                        
  Interest   $ 1,853,393.09   $ 367,656.20   $ 411,424.00   $ 656,656.00   $ 417,656.89
  Principal   $ 110,807,889.72   $ 110,807,889.72   $ 0.00   $ 0.00   $ 0.00
  Reserve Fund   $ 15,935,919.85                        
   
 
 
 
 
  Total Amount Distributed   $ 131,146,233.88   $ 111,175,545.92   $ 411,424.00   $ 656,656.00   $ 417,656.89
 
    
    
Monthly Information by Type of Loan          

Precomputed Contracts
 
 
 
 
 
  Scheduled Principal Collections       $ 3,464,135.26
  Prepayments in Full   186 contracts   $ 1,369,532.67
  Repurchased Receivables Principal       $ 0.00
  Payments Behind/Ahead on Repurchased Receivables       $ 0.00
  Total Collections       $ 5,515,372.73
  Advances—Reimbursement of Previous Advances       $ 0.00
  Advances—Current Advance Amount       $ 38,548.06
  Payahead Account—Payments Applied       $ 0.00
  Payahead Account—Additional Payaheads       $ 104,364.17

Simple Interest Contracts
 
 
 
 
 
  Collected Principal       $ 64,842,118.62
  Prepayments in Full   3041 contracts   $ 40,963,385.96
  Collected Interest       $ 18,408,164.97
  Repurchased Receivables Principal       $ 0.00
  Repurchased Receivables Interest       $ 0.00
  Advances—Reimbursement of Previous Advances       $ 0.00
  Advances—Current Advance Amount       $ 1,462,599.73

Page 3


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

 
   Class A2
   Class A3
  
 
   Balance
   Balance
  
Note Rates for February 15, 2002 Payment Date          
One Month LIBOR   1.82750%   1.82750%  
Spread   0.05000%   0.06000%  
   
 
 
Note Rates:   1.87750%   1.88750%  

Number of Days in Interest Period (Days)
 
17
 
17
 

Interest Payments
 
 
 
 
 
Interest Calculation for Current Interest Period   343,113.13   382,376.04  
At Certificate Payment Date:          
  Due to Swap Counterparty (Swap Payments Outgoing)   411,424.00   656,656.00  
  Paid to Swap Counterparty (Swap Payments Outgoing)   411,424.00   656,656.00  
  Proration %                                                                                 0.00%          
  Interest Due to Noteholders (Swap Payments Incoming)   343,113.13   382,376.04  
  Interest Payment to Noteholders (Swap Payments Incoming)   343,113.13   382,376.04  

Net Swap Payment due to / (received by) Swap Counterparty
 
(68,310.87
)
(274,279.96
)

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 March 15, 2002 Payment Date
 
 
 
 
 
One Month LIBOR   1.84750%   1.84750%  
Spread   0.05000%   0.06000%  
   
 
 
Note Rates:   1.89750%   1.90750%  

Number of Days in Interest Period (Days)
 
28
 
28
 

 
 
 
 
 
 

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


QuickLinks

Exhibit 20
TOYOTA MOTOR CREDIT CORPORATION Servicer's Certificate—Toyota Auto Receivables 2002-A Owner Trust Distribution Date of February 15, 2002 for the Collection Period of December 1, 2001 through January 31, 2002
TOYOTA MOTOR CREDIT CORPORATION Servicer's Certificate—Toyota Auto Receivables 2002-A Owner Trust Distribution Date of February 15, 2002 for the Collection Period of December 1, 2001 through January 31, 2002
TOYOTA MOTOR CREDIT CORPORATION Servicer's Certificate—Toyota Auto Receivables 2002-A Owner Trust Distribution Date of February 15, 2002 for the Collection Period of December 1, 2001 through January 31, 2002