TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of October 15, 2001 for the Collection Period August 1, 2001 through September 30, 2001
| | Total | Class A-1 Balance | Class A-2 Balance | Class A-3 Balance | Class A-4 Balance | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pool Data—Original Deal Parameters | ||||||||||||||||
| Securities Balance | $ | 1,455,000,000.00 | $ | 382,500,000.00 | $ | 462,000,000.00 | $ | 391,000,000.00 | $ | 219,500,000.00 | ||||||
| Receivables Pool Balance | $ | 1,500,000,001.00 | ||||||||||||||
| Principal Factor | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | |||||||||||
| Rate | 3.470% | 3.770% | 4.4749% | 4.720% | ||||||||||||
| Final Scheduled Payment Date | September 16, 2002 | July 15, 2004 | December 15, 2005 | September 15, 2008 | ||||||||||||
| Number of Contracts | 104,437 | |||||||||||||||
| Weighted Average A.P.R. | 8.55% | |||||||||||||||
| Weighted Average Remaining Term | 50.65 | months | ||||||||||||||
| Servicing Fee Rate | 1.00% | |||||||||||||||
Pool Data—Prior Month | ||||||||||||||||
| Securities Balance | $ | 1,455,000,000.00 | $ | 382,500,000.00 | $ | 462,000,000.00 | $ | 391,000,000.00 | $ | 219,500,000.00 | ||||||
| Receivables Pool Balance | $ | 1,500,000,001.00 | ||||||||||||||
| Securities Pool Factor | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | |||||||||||
| Number of Contracts | 104,437 | |||||||||||||||
| Weighted Average A.P.R. | 8.55% | |||||||||||||||
| Weighted Average Remaining Term | 50.65 | months | ||||||||||||||
| Precompute and Simple Interest Advances | 298,737.29 | |||||||||||||||
| Payahead Account Balance | 944,423.40 | |||||||||||||||
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 | $ | 1,348,745,233.26 | $ | 276,245,233.26 | $ | 462,000,000.00 | $ | 391,000,000.00 | $ | 219,500,000.00 | ||||||
| Receivables Pool Balance | $ | 1,393,745,234.26 | ||||||||||||||
| Securities Pool Factor | 0.92697267 | 0.72220976 | 1.00000000 | 1.00000000 | 1.00000000 | |||||||||||
| Number of Contracts | 100,845 | |||||||||||||||
| Weighted Average A.P.R. | 8.56% | |||||||||||||||
| Weighted Average Remaining Term | 49.11 | months | ||||||||||||||
| Precompute and Simple Interest Advances | $ | 2,701,657.01 | ||||||||||||||
| Payahead Account Balance | $ | 800,643.36 | ||||||||||||||
Interest Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
| Principal Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
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| 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) | $ | 74,180,987.83 | |||
Beginning Balance | $ | 0.00 | |||
| Total Withdraw | $ | 0.00 | |||
| Amount Available for Deposit to the Reserve Account | $ | 16,405,839.35 | |||
| Reserve Account Balance Prior to Release | $ | 16,405,839.35 | |||
| Reserve Account Required Amount | $ | 0.00 | |||
| Reserve Account Release to Seller | $ | 16,405,839.35 | |||
| Ending Reserve Account Balance | $ | 0.00 | |||
| Revolving Liquidity Note | ||||
| Total Amount Available | $ | 7,500,000.00 | ||
Beginning of Period Balance | $ | 0.00 | ||
| Draws | $ | 0.00 | ||
| Reimbursements | $ | 0.00 | ||
| End of Period Balance | $ | 0.00 | ||
Current Period Undrawn Amount | $ | 7,500,000.00 | ||
Liquidation of Charge-offs and Repossessions
| | Vehicles | Amount | |||||
|---|---|---|---|---|---|---|---|
| Liquidated Contracts | 5 | ||||||
| Gross Principal Balance of Liquidated Receivables | $ | 63,532.47 | |||||
| Net Liquidation Proceeds Received During the Collection Period | $ | (52,821.00 | ) | ||||
| Recoveries on Previously Liquidated Contracts | $ | 0.00 | |||||
| Aggregate Credit Losses for the Collection Period | $ | 10,711.47 | |||||
| Cumulative Credit Losses for all Periods | 5 | $ | 10,711.47 | ||||
| Repossessed in Current Period | 25 | ||||||
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| | Annualized Average Charge-Off Rate | ||
|---|---|---|---|
| Ratio of Net Credit Losses to the Average Pool Balance for Each Collection Period: | |||
| 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 (> 1.25%) | condition not met | ||
Delinquent and Repossessed Contracts
| | Percent | Contracts | Percent | Amount | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 31-60 Days Delinquent | 0.83 | % | 834 | 0.76 | % | $ | 10,661,822.52 | ||||
| 61-90 Days Delinquent | 0.09 | % | 93 | 0.09 | % | $ | 1,291,560.70 | ||||
| Over 90 Days Delinquent | 0.00 | % | 0 | 0.00 | % | $ | 0.00 | ||||
| Total Delinquencies | 927 | $ | 11,953,383.22 | ||||||||
| Repossessed Vehicle Inventory | 23* | ||||||||||
| * 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 | 0.00 | % | |||||||||
| Current Collection Period | 0.09 | % | |||||||||
Condition (ii) (Delinquency Percentage) | |||||||||||
| Three Month Average | 0.03 | % | |||||||||
| Delinquency Percentage Indicator (> 1.25%) | condition not met | ||||||||||
Page 4
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of October 15, 2001 for the Collection Period August 1, 2001 through September 30, 2001
| | Total | Class A-1 Balance | Class A-2 Balance | Class A-3 Balance | Class A-4 Balance | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collections | ||||||||||||||||
| Principal Payments Received | $ | 106,191,234.38 | ||||||||||||||
| Interest Payments Received | $ | 20,385,544.33 | ||||||||||||||
| Net Precomputed Payahead Amount | $ | 143,780.04 | ||||||||||||||
| Aggregate Net Liquidation Proceeds Received | $ | 52,821.00 | ||||||||||||||
| Principal on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Interest on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Total Collections | $ | 126,773,379.75 | ||||||||||||||
| Net Simple Interest Advance Amount | $ | 2,204,687.11 | ||||||||||||||
| Net Precomputed Advance Amount | $ | 198,232.61 | ||||||||||||||
| Total Available Amount | $ | 129,176,299.47 | ||||||||||||||
Amounts Due | ||||||||||||||||
| Servicing Fee | $ | 2,449,901.08 | ||||||||||||||
| Accrued and Unpaid Interest | $ | 4,065,792.30 | ||||||||||||||
| Principal | $ | 106,254,766.74 | ||||||||||||||
| Reserve Fund | $ | 16,405,839.35 | ||||||||||||||
| Total Amount Due | $ | 129,176,299.47 | ||||||||||||||
Actual Distributions | ||||||||||||||||
| Servicing Fee | $ | 2,449,901.08 | ||||||||||||||
| Interest | $ | 4,065,792.30 | $ | 921,718.75 | $ | 1,209,541.67 | $ | 1,215,059.65 | $ | 719,472.23 | ||||||
| Principal | $ | 106,254,766.74 | $ | 106,254,766.74 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
| Reserve Fund | $ | 16,405,839.35 | ||||||||||||||
| Total Amount Distributed | $ | 129,176,299.47 | $ | 107,176,485.49 | $ | 1,209,541.67 | $ | 1,215,059.65 | $ | 719,472.23 | ||||||
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Monthly Information by Type of Loan
| Precomputed Contracts | ||||||
| Scheduled Principal Collections | $ | 4,220,760.89 | ||||
| Prepayments in Full | 261 contracts | $ | 1,730,726.02 | |||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Payments Behind/Ahead on Repurchased Receivables | $ | 0.00 | ||||
| Total Collections | $ | 6,369,296.50 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 198,232.61 | ||||
| Payahead Account—Payments Applied | $ | 143,780.04 | ||||
| Payahead Account—Additional Payaheads | $ | 0.00 | ||||
Simple Interest Contracts | ||||||
| Collected Principal | $ | 55,144,284.51 | ||||
| Prepayments in Full | 3326 contracts | $ | 45,095,462.96 | |||
| Collected Interest | $ | 19,967,734.74 | ||||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Repurchased Receivables Interest | $ | 0.00 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 2,204,687.11 | ||||
Page 6
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Payment Date of October 15, 2001 for the Collection Period of August 1 through September 30, 2001
| | | Class A3 Balance | ||||
|---|---|---|---|---|---|---|
| Note Rates for October 15, 2001 Payment Date | ||||||
| One Month LIBOR | 3.05750 | % | ||||
| Spread | 0.07000 | % | ||||
| Note Rates: | 3.12750 | % | ||||
Number of Days in Interest Period (Days) | 25 | |||||
| Interest Payments | ||||||
| Interest Calculation for Current Interest Period At Certificate Payment Date: | 849,203.13 | |||||
| Due to Swap Counterparty (Swap Payments Outgoing) | 1,215,059.65 | |||||
| Paid to Swap Counterparty (Swap Payments Outgoing) | 1,215,059.65 | |||||
| Proration % | 0.00 | % | ||||
| Interest Due to Noteholders (Swap Payments Incoming) | 849,203.13 | |||||
| Interest Payment to Noteholders (Swap Payments Incoming) | 849,203.13 | |||||
Net Swap Payment due to / (received by) Swap Counterparty | (365,856.52 | ) | ||||
Principal Payments | ||||||
| Principal Payment due to Investors | — | |||||
| Ending Notional Balance | 391,000,000.00 | |||||
Swap Termination Payment | N/A | |||||
Note Rates for November 15, 2001 Payment Date | ||||||
| One Month LIBOR | 2.52500 | % | ||||
| Spread | 0.07000 | % | ||||
| Note Rates: | 2.59500 | % | ||||
Number of Days in Interest Period (Days) | 31 | |||||
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 |
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