Exhibit 99.1
Servicer’s Certificate
for the Collection Period December 01, 2020 through December 31, 2020
for Payment Date of January 15, 2021
Toyota Auto Receivables 2020-D Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
31 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
31 | Actual/360 Days |
31 |
| Class | Initial Principal Balance |
Final Scheduled Payment Date |
Beginning Principal Balance |
Beginning Principal Factor |
First Priority |
Second Priority Principal Distribution Amount |
Regular Principal Distribution Amount |
Ending Principal |
Ending Principal Factor |
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| A-1 | $333,000,000.00 | 10/15/21 | $148,418,733.05 | 0.4457019 | $2,854,376.30 | $40,000,000.00 | $13,600,001.55 | $91,964,355.20 | 0.2761692 | |||||||||||||||||||||||||||
| A-2 | $577,000,000.00 | 5/15/23 | $577,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $577,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| A-3 | $508,000,000.00 | 1/15/25 | $508,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $508,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| A-4 | $142,000,000.00 | 1/15/26 | $142,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $142,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| B | $40,000,000.00 | 5/17/27 | $40,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $40,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
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| Total | $1,600,000,000.00 | $1,415,418,733.05 | $2,854,376.30 | $40,000,000.00 | $13,600,001.55 | $1,358,964,355.20 | 0.8493527 | |||||||||||||||||||||||||||||
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Class |
Interest Rate | Interest Distributable Amount |
Prior Interest Carryover |
Interest Distribution Amount |
Current Interest Carryover |
Total Principal & |
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| A-1 | 0.16375% | $20,928.07 | $0.00 | $20,928.07 | $0.00 | $56,475,305.92 | ||||||||||||||||||||
| A-2 | 0.23000% | $110,591.67 | $0.00 | $110,591.67 | $0.00 | $110,591.67 | ||||||||||||||||||||
| A-3 | 0.35000% | $148,166.67 | $0.00 | $148,166.67 | $0.00 | $148,166.67 | ||||||||||||||||||||
| A-4 | 0.47000% | $55,616.67 | $0.00 | $55,616.67 | $0.00 | $55,616.67 | ||||||||||||||||||||
| B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||
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| Total | $335,303.08 | $0.00 | $335,303.08 | $0.00 | $56,789,680.93 | |||||||||||||||||||||
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Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
| Initial Deposit Amount |
$8,000,000.91 | Beginning Period Amount |
$44,872,329.64 | |||||||
| Specified Reserve Account Amount |
$8,000,000.91 | Increase/(Decrease) |
$(2,547,698.03 | ) | ||||||
| Beginning Balance |
$8,000,000.91 | Ending Period Amount |
$42,324,631.61 | |||||||
| Withdrawals |
$0.00 | |||||||||
| Amount Available for Deposit |
$18,683,375.81 | Overcollateralization | ||||||||
| Amount Deposited to the Reserve Account |
$0.00 | |||||||||
| Reserve Account Balance Prior to Release |
$8,000,000.91 | Adjusted Pool Balance |
$1,372,564,356.75 | |||||||
| Reserve Account Required Amount |
$8,000,000.91 | Total Note Balance |
$1,358,964,355.20 | |||||||
| Reserve Account Release to Seller |
$0.00 | Ending Overcollateralization Amount |
$13,600,001.55 | |||||||
| Ending Reserve Account Balance |
$8,000,000.91 | Overcollateralization Target Amount |
$13,600,001.55 | |||||||
Page 1 of 5
Servicer’s Certificate
for the Collection Period December 01, 2020 through December 31, 2020
for Payment Date of January 15, 2021
Toyota Auto Receivables 2020-D Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
31 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
31 | Actual/360 Days |
31 |
Liquidations of Charge-offs and Repossessions
| Cumulative | ||||||||||||||||||||
| Current Period Only | Current Period | Prior Period | Two Periods Prior | Three Periods Prior | ||||||||||||||||
| Number of Liquidated Receivables |
15 | 17 | 2 | 1 | 0 | |||||||||||||||
| Gross Principal of Liquidated Receivables |
$269,420.20 | $328,446.66 | $59,026.46 | $33,364.37 | $0.00 | |||||||||||||||
| Principal of Repurchased Contracts, previously charged-off |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||
| Net Liquidation Proceeds Received During the Collection Period |
$(92,314.18 | ) | $(147,522.52 | ) | $(55,208.34 | ) | $(31,583.91 | ) | $0.00 | |||||||||||
| Recoveries on Previously Liquidated Contracts |
$478.43 | $708.67 | $230.24 | $0.00 | $0.00 | |||||||||||||||
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| Net Credit Losses |
$177,584.45 | $181,632.81 | $4,048.36 | $1,780.46 | $0.00 | |||||||||||||||
| Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
0.01944% | 0.00229% | 0.00114% | 0.00000% | ||||||||||||||||
| Number of Accounts with Liquidation Proceeds or Recoveries |
12 | 2 | 1 | 0 | ||||||||||||||||
| Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.01197% | 0.00026% | 0.00011% | 0.00000% | ||||||||||||||||
| Number of Assets Experiencing a Net Loss |
16 | 2 | 1 | 0 | ||||||||||||||||
| Net Credit Losses for Assets Experiencing a Loss |
$181,640.28 | $4,048.36 | $1,780.46 | $0.00 | ||||||||||||||||
| Average Net Loss on all assets that have Experienced a Net Loss |
$11,352.52 | $2,024.18 | $1,780.46 | $0.00 | ||||||||||||||||
| Cumulative Net Loss Ratio |
0.01099% | 0.00024% | 0.00011% | 0.00000% | ||||||||||||||||
| Repossessed in Current Period |
5 vehicles | |||||||||||||||||||
Pool Data
| Original | Prior Month | Current Month | ||||||||||||||
| Receivables Pool Balance |
$1,652,997,849.97 | $1,473,891,064.24 | $1,414,888,988.36 | |||||||||||||
| Number of Contracts |
87,460 | 82,885 | 80,748 | |||||||||||||
| Weighted Average APR |
3.46% | 3.46% | 3.46% | |||||||||||||
| Weighted Average Remaining Term (Months) |
49.73 | 47.23 | 46.41 | |||||||||||||
| Extensions Granted for the Applicable Month |
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| Two Months Prior | Prior Month | Current Month | ||||||||||||||
| Number of Contracts Granted Payment Extensions |
247 | 170 | 196 | |||||||||||||
| Number of Contracts Granted Extensions as % of Outstanding Contracts as of Beginning of Month |
0.28% | 0.20% | 0.24% | |||||||||||||
Page 2 of 5
Servicer’s Certificate
for the Collection Period December 01, 2020 through December 31, 2020
for Payment Date of January 15, 2021
Toyota Auto Receivables 2020-D Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
31 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
31 | Actual/360 Days |
31 |
Collections
| Principal Payments Received |
$38,613,309.09 | |||
| Prepayments in Full |
$20,119,346.59 | |||
| Interest Payments Received |
$4,276,806.31 | |||
| Aggregate Net Liquidation Proceeds |
$91,835.75 | |||
| Interest on Repurchased Contracts |
$0.00 | |||
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| Total Collections |
$63,101,297.74 | |||
| Principal of Repurchased Contracts |
$0.00 | |||
| Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
| Adjustment on Repurchased Contracts |
$0.00 | |||
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| Total Repurchased Amount |
$0.00 | |||
| Total Available Collections |
$63,101,297.74 | |||
Distributions
| Calculated Amount | Amount Paid | Shortfall | ||||||||||||||
| Servicing Fee |
$1,228,242.55 | $1,228,242.55 | $0.00 | |||||||||||||
| Trustee and Other Fees/Expenses (capped at $300,000.00 per calendar year) |
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| 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 |
$20,928.07 | $20,928.07 | $0.00 | |||||||||||||
| Interest - Class A-2 Notes |
$110,591.67 | $110,591.67 | $0.00 | |||||||||||||
| Interest - Class A-3 Notes |
$148,166.67 | $148,166.67 | $0.00 | |||||||||||||
| Interest - Class A-4 Notes |
$55,616.67 | $55,616.67 | $0.00 | |||||||||||||
| First Priority Principal Distribution Amount |
$2,854,376.30 | $2,854,376.30 | $0.00 | |||||||||||||
| Interest - Class B Notes |
$0.00 | $0.00 | $0.00 | |||||||||||||
| Second Priority Principal Distribution Amount |
$40,000,000.00 | $40,000,000.00 | $0.00 | |||||||||||||
| Reserve Account Deposit |
$0.00 | $0.00 | $0.00 | |||||||||||||
| Regular Principal Distribution Amount |
$13,600,001.55 | $13,600,001.55 | $0.00 | |||||||||||||
| Additional Trustee and Other Fees/Expenses |
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| 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 |
$5,083,374.26 | $5,083,374.26 | N/A | |||||||||||||
Page 3 of 5
Servicer’s Certificate
for the Collection Period December 01, 2020 through December 31, 2020
for Payment Date of January 15, 2021
Toyota Auto Receivables 2020-D Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
31 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
31 | Actual/360 Days |
31 |
Noteholder Distributions
| Interest Distributed |
Per $1000 of Original Balance |
Principal Distributed |
Per $1000 of Original Balance |
Amount Distributed |
Per $1000 of Original Balance |
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| Class A-1 Notes |
$20,928.07 | $0.06 | $56,454,377.85 | $169.53 | $56,475,305.92 | $169.59 | ||||||||||||||||||||||||||||
| Class A-2 Notes |
$110,591.67 | $0.19 | $0.00 | $0.00 | $110,591.67 | $0.19 | ||||||||||||||||||||||||||||
| Class A-3 Notes |
$148,166.67 | $0.29 | $0.00 | $0.00 | $148,166.67 | $0.29 | ||||||||||||||||||||||||||||
| Class A-4 Notes |
$55,616.67 | $0.39 | $0.00 | $0.00 | $55,616.67 | $0.39 | ||||||||||||||||||||||||||||
| 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 |
0.30% | 246 | 0.30% | $4,246,831.21 | ||||||||||||
| 60-89 Days Delinquent |
0.05% | 44 | 0.04% | $584,219.06 | ||||||||||||
| 90-119 Days Delinquent |
0.03% | 27 | 0.04% | $506,280.15 | ||||||||||||
| 120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
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| Total Delinquencies |
0.38% | 317 | 0.38% | $5,337,330.42 | ||||||||||||
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| Total Delinquencies - Prior Period |
0.35% | 0.35% | ||||||||||||||
| Total Delinquencies - Two Months Prior |
0.32% | 0.31% | ||||||||||||||
| Total Delinquencies - Three Months Prior |
0.00% | 0.00% | ||||||||||||||
| Receivables Pool Balance |
$1,414,888,988.36 | |||||||||||||||
| 60-Day Delinquency Percentage |
0.08% | |||||||||||||||
| Delinquency Trigger Percentage |
4.65% | |||||||||||||||
| Has a Delinquency Trigger occurred in this Collection Period? |
No | |||||||||||||||
| Repossessed Vehicle Inventory* |
10 vehicles | |||||||||||||||
| * Included with Delinquencies Above |
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Page 4 of 5
Servicer’s Certificate
for the Collection Period December 01, 2020 through December 31, 2020
for Payment Date of January 15, 2021
Toyota Auto Receivables 2020-D 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/ Theodore Zarrabi | ||
| Name: | Theodore Zarrabi | |
| Title: | General Manager - Head of Treasury | |
Page 5 of 5