Exhibit 99.1
Servicer’s Certificate
for the Collection Period December 01, 2023 through January 31, 2024
for Payment Date of February 15, 2024
Toyota Auto Receivables 2024-A Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
62 | 30/360 Days |
15 | |||||
| Interest Accrual Period |
16 | Actual/360 Days |
16 |
| Class | Initial Principal Balance |
Final Scheduled Payment Date |
Beginning Principal Balance |
Beginning Principal Factor |
First Priority Amount |
Second Priority Principal Distribution Amount |
Regular Principal Distribution Amount |
Ending Principal |
Ending Principal Factor |
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| A-1 | $345,000,000.00 | 1/15/25 | $345,000,000.00 | 1.0000000 | $56,366,074.11 | $43,750,000.00 | $14,875,000.06 | $230,008,925.83 | 0.6666925 | |||||||||||||||||||||||||||
| A-2a | $157,500,000.00 | 12/15/26 | $157,500,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $157,500,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| A-2b | $472,500,000.00 | 12/15/26 | $472,500,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $472,500,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| A-3 | $630,000,000.00 | 10/16/28 | $630,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $630,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| A-4 | $101,250,000.00 | 4/16/29 | $101,250,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $101,250,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| B | $43,750,000.00 | 8/15/30 | $43,750,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $43,750,000.00 | 1.0000000 | |||||||||||||||||||||||||||
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| Total | $1,750,000,000.00 | $1,750,000,000.00 | $56,366,074.11 | $43,750,000.00 | $14,875,000.06 | $1,635,008,925.83 | 0.9342908 | |||||||||||||||||||||||||||||
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| Class | Interest Rate | Interest Distributable Amount |
Prior Interest Carryover |
Interest Distribution Amount |
Current Interest Carryover |
Total Principal & Interest Distribution |
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| A-1 | 5.51900% | $846,246.67 | $0.00 | $846,246.67 | $0.00 | $115,837,320.84 | ||||||||||||||||||||
| A-2a | 5.13000% | $336,656.25 | $0.00 | $336,656.25 | $0.00 | $336,656.25 | ||||||||||||||||||||
| A-2b | 5.69299% | $1,195,527.90 | $0.00 | $1,195,527.90 | $0.00 | $1,195,527.90 | ||||||||||||||||||||
| A-3 | 4.83000% | $1,267,875.00 | $0.00 | $1,267,875.00 | $0.00 | $1,267,875.00 | ||||||||||||||||||||
| A-4 | 4.77000% | $201,234.38 | $0.00 | $201,234.38 | $0.00 | $201,234.38 | ||||||||||||||||||||
| B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||
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| Total | $3,847,540.20 | $0.00 | $3,847,540.20 | $0.00 | $118,838,614.37 | |||||||||||||||||||||
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Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
| Initial Deposit Amount |
$4,375,000.02 | Beginning Period Amount |
$158,468,792.45 | |||||||
| Specified Reserve Account Amount |
$4,375,000.02 | Increase/(Decrease) |
$(14,118,289.36 | ) | ||||||
| Beginning Balance |
$4,375,000.02 | Ending Period Amount |
$144,350,503.09 | |||||||
| Withdrawals |
$0.00 | |||||||||
| Amount Available for Deposit |
$23,920,842.65 | Overcollateralization | ||||||||
| Amount Deposited to the Reserve Account |
$0.00 | |||||||||
| Reserve Account Balance Prior to Release |
$4,375,000.02 | Adjusted Pool Balance |
$1,649,883,925.89 | |||||||
| Reserve Account Required Amount |
$4,375,000.02 | Total Note Balance |
$1,635,008,925.83 | |||||||
| Reserve Account Release to Seller |
$0.00 | Ending Overcollateralization Amount |
$14,875,000.06 | |||||||
| Ending Reserve Account Balance |
$4,375,000.02 | Overcollateralization Target Amount |
$14,875,000.06 | |||||||
Page 1 of 6
Servicer’s Certificate
for the Collection Period December 01, 2023 through January 31, 2024
for Payment Date of February 15, 2024
Toyota Auto Receivables 2024-A Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
62 | 30/360 Days |
15 | |||||
| Interest Accrual Period |
16 | Actual/360 Days |
16 |
Liquidations of Charge-offs and Repossessions
| Cumulative | ||||||||||||||||||||
| Current Period Only | Current Period | Prior Period | Two Periods Prior | Three Periods Prior | ||||||||||||||||
| Number of Liquidated Receivables |
2 | 2 | 0 | 0 | 0 | |||||||||||||||
| Gross Principal of Liquidated Receivables |
$32,710.04 | $32,710.04 | $0.00 | $0.00 | $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 |
$41,358.87 | $41,358.87 | $0.00 | $0.00 | $0.00 | |||||||||||||||
| Recoveries on Previously Liquidated Contracts |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||
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| Net Credit Losses |
$74,068.91 | $74,068.91 | $0.00 | $0.00 | $0.00 | |||||||||||||||
| Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
0.00279% | 0.00000% | 0.00000% | 0.00000% | ||||||||||||||||
| Number of Accounts with Liquidation Proceeds or Recoveries |
2 | 0 | 0 | 0 | ||||||||||||||||
| Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.00400% | 0.00000% | 0.00000% | 0.00000% | ||||||||||||||||
| Number of Assets Experiencing a Net Loss |
2 | 0 | 0 | 0 | ||||||||||||||||
| Net Credit Losses for Assets Experiencing a Loss |
$74,068.91 | $0.00 | $0.00 | $0.00 | ||||||||||||||||
| Average Net Loss on all assets that have Experienced a Net Loss |
$37,034.46 | $0.00 | $0.00 | $0.00 | ||||||||||||||||
| Cumulative Net Loss Ratio |
0.00388% | 0.00000% | 0.00000% | 0.00000% | ||||||||||||||||
| Repossessed in Current Period |
8 vehicles | |||||||||||||||||||
Pool Data
| Original | Prior Month | Current Month | ||||||||||||||
| Receivables Pool Balance |
$1,908,468,799.65 | $1,908,468,799.65 | $1,794,234,428.98 | |||||||||||||
| Number of Contracts |
71,726 | 71,726 | 69,837 | |||||||||||||
| Weighted Average APR |
5.37% | 5.37% | 5.38% | |||||||||||||
| Weighted Average Remaining Term (Months) |
54.51 | 54.51 | 52.76 | |||||||||||||
Page 2 of 6
Servicer’s Certificate
for the Collection Period December 01, 2023 through January 31, 2024
for Payment Date of February 15, 2024
Toyota Auto Receivables 2024-A Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
62 | 30/360 Days |
15 | |||||
| Interest Accrual Period |
16 | Actual/360 Days |
16 |
Collections
| Principal Payments Received |
$79,721,642.72 | |||
| Prepayments in Full |
$34,415,172.34 | |||
| Interest Payments Received |
$16,903,266.04 | |||
| Aggregate Net Liquidation Proceeds |
$(41,358.87 | ) | ||
| Interest on Repurchased Contracts |
$1,670.49 | |||
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| Total Collections |
$131,000,392.72 | |||
| Principal of Repurchased Contracts |
$64,845.57 | |||
| Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
| Adjustment on Repurchased Contracts |
$0.00 | |||
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| Total Repurchased Amount |
$64,845.57 | |||
| Total Available Collections |
$131,065,238.29 |
Distributions
| Calculated Amount | Amount Paid | Shortfall | ||||||||||||||
| Servicing Fee |
$3,180,781.33 | $3,180,781.33 | $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 |
$846,246.67 | $846,246.67 | $0.00 | |||||||||||||
| Interest - Class A-2a Notes |
$336,656.25 | $336,656.25 | $0.00 | |||||||||||||
| Interest - Class A-2b Notes |
$1,195,527.90 | $1,195,527.90 | $0.00 | |||||||||||||
| Interest - Class A-3 Notes |
$1,267,875.00 | $1,267,875.00 | $0.00 | |||||||||||||
| Interest - Class A-4 Notes |
$201,234.38 | $201,234.38 | $0.00 | |||||||||||||
| First Priority Principal Distribution Amount |
$56,366,074.11 | $56,366,074.11 | $0.00 | |||||||||||||
| Interest - Class B Notes |
$0.00 | $0.00 | $0.00 | |||||||||||||
| Second Priority Principal Distribution Amount |
$43,750,000.00 | $43,750,000.00 | $0.00 | |||||||||||||
| Reserve Account Deposit |
$0.00 | $0.00 | $0.00 | |||||||||||||
| Regular Principal Distribution Amount |
$14,875,000.06 | $14,875,000.06 | $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 |
$9,045,842.59 | $9,045,842.59 | N/A | |||||||||||||
Page 3 of 6
Servicer’s Certificate
for the Collection Period December 01, 2023 through January 31, 2024
for Payment Date of February 15, 2024
Toyota Auto Receivables 2024-A Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
62 | 30/360 Days |
15 | |||||
| Interest Accrual Period |
16 | Actual/360 Days |
16 |
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 |
$846,246.67 | $2.45 | $114,991,074.17 | $333.31 | $115,837,320.84 | $335.76 | ||||||||||||||||||||||||||||
| Class A-2a Notes |
$336,656.25 | $2.14 | $0.00 | $0.00 | $336,656.25 | $2.14 | ||||||||||||||||||||||||||||
| Class A-2b Notes |
$1,195,527.90 | $2.53 | $0.00 | $0.00 | $1,195,527.90 | $2.53 | ||||||||||||||||||||||||||||
| Class A-3 Notes |
$1,267,875.00 | $2.01 | $0.00 | $0.00 | $1,267,875.00 | $2.01 | ||||||||||||||||||||||||||||
| Class A-4 Notes |
$201,234.38 | $1.99 | $0.00 | $0.00 | $201,234.38 | $1.99 | ||||||||||||||||||||||||||||
| 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 |
0.55% | 381 | 0.65% | $11,608,171.55 | ||||||||||||
| 60-89 Days Delinquent |
0.10% | 70 | 0.12% | $2,124,355.62 | ||||||||||||
| 90-119 Days Delinquent |
0.01% | 4 | 0.01% | $178,517.90 | ||||||||||||
| 120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
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| Total Delinquencies |
0.66% | 455 | 0.78% | $13,911,045.07 | ||||||||||||
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| Total Delinquencies - Prior Period |
0.00% | 0.00% | ||||||||||||||
| Total Delinquencies - Two Months Prior |
0.00% | 0.00% | ||||||||||||||
| Total Delinquencies - Three Months Prior |
0.00% | 0.00% | ||||||||||||||
| Receivables Pool Balance |
$1,794,234,428.98 | |||||||||||||||
| 60-Day Delinquency Percentage |
0.13% | |||||||||||||||
| Delinquency Trigger Percentage |
4.65% | |||||||||||||||
| Has a Delinquency Trigger occurred in this Collection Period? |
No | |||||||||||||||
| Repossessed Vehicle Inventory* |
8 vehicles | |||||||||||||||
| * Included with Delinquencies Above |
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Page 4 of 6
Servicer’s Certificate
for the Collection Period December 01, 2023 through January 31, 2024
for Payment Date of February 15, 2024
Toyota Auto Receivables 2024-A Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
Credit Risk Retention
On the Closing Date, Toyota Auto Finance Receivables LLC retained $17,250,000 of the Class A-1 Notes, $7,875,000 of the Class A-2a Notes, $23,625,000 of the Class A-2b Notes, $31,500,000 of the Class A-3 Notes, $5,063,000 of the Class A-4 Notes, $43,750,000 of the Class B Notes and 100% of the Certificate.
Page 5 of 6
Servicer’s Certificate
for the Collection Period December 01, 2023 through January 31, 2024
for Payment Date of February 15, 2024
Toyota Auto Receivables 2024-A 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/ Stephen Bishop | ||
| Name: | Stephen Bishop | |
| Title: | General Manager - Treasury | |
Page 6 of 6