TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of November 15, 2001 for the Collection Period
October 1, 2001 through October 31, 2001
| | | Class A-1 | Class A-2 | Class A-3 | Class A-4 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Total | Balance | Balance | Balance | 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 | $ | 1,348,745,233.26 | $ | 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 | |||||||||||||||
| Supplemental Servicing Fee Received | $ | 45,280.06 | |||||||||||||||
| 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 | $ | 1,290,751,607.63 | $ | 218,251,607.63 | $ | 462,000,000.00 | $ | 391,000,000.00 | $ | 219,500,000.00 | |||||||
| Receivables Pool Balance | $ | 1,335,751,608.63 | |||||||||||||||
| Securities Pool Factor | 0.88711451 | 0.57059244 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 98,740 | ||||||||||||||||
| Weighted Average A.P.R. | 8.56 | % | |||||||||||||||
| Weighted Average Remaining Term | 48.26 months | ||||||||||||||||
| Precompute and Simple Interest Advances | $ | 2,501,970.34 | |||||||||||||||
| Payahead Account Balance | $ | 876,039.91 | |||||||||||||||
| Supplemental Servicing Fee Received | $ | 59,922.29 | |||||||||||||||
| 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) | $ | 70,991,338.42 | |||
| Beginning Balance | $ | 0.00 | |||
| Total Withdraw | $ | 0.00 | |||
| Amount Available for Deposit to the Reserve Account | $ | 4,521,075.60 | |||
| Reserve Account Balance Prior to Release | $ | 4,521,075.60 | |||
| Reserve Account Required Amount | $ | 0.00 | |||
| Reserve Account Release to Seller | $ | 4,521,075.60 | |||
| 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 | |||
Page 1
| Liquidation of Charge-offs and Repossessions | Vehicles | Amount | |||||
|---|---|---|---|---|---|---|---|
| Liquidated Contracts | 7 | ||||||
| Gross Principal Balance of Liquidated Receivables | $ | 74,594.24 | |||||
| Net Liquidation Proceeds Received During the Collection Period | $ | (48,802.32 | ) | ||||
| Recoveries on Previously Liquidated Contracts | $ | (260.00 | ) | ||||
| Aggregate Credit Losses for the Collection Period | $ | 25,531.92 | |||||
| Cumulative Credit Losses for all Periods | 12 | $ | 36,243.39 | ||||
| Repossessed in Current Period | 47 | ||||||
| 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 | 0.02% | ||
| Current Collection Period | 0.02% | ||
Condition (i)(Charge-off Rate) | |||
| Three Month Average | 0.01% | ||
| Charge-off Rate Indicator (> 1.25%) | condition not met | ||
| Delinquent and Repossessed Contracts | Percent | Contracts | Percent | Amount | |||||
|---|---|---|---|---|---|---|---|---|---|
| 31-60 Days Delinquent | 0.85 | % | 839 | 0.82 | % | $ | 10,979,694.01 | ||
| 61-90 Days Delinquent | 0.09 | % | 85 | 0.08 | % | $ | 1,102,449.57 | ||
| Over 90 Days Delinquent | 0.04 | % | 44 | 0.05 | % | $ | 647,439.08 | ||
| Total Delinquencies | 968 | $ | 12,729,582.66 | ||||||
| Repossessed Vehicle Inventory | 63* | ||||||||
| 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 | 0.09% | ||
| Current Collection Period | 0.13% | ||
Condition (ii)(Delinquency Percentage) | |||
| Three Month Average | 0.07% | ||
| Delinquency Percentage Indicator (> 1.25%) | condition not met | ||
Page 2
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of November 15, 2001 for the Collection Period
October 1, 2001 through October 31, 2001
| | | Class A-1 | Class A-2 | Class A-3 | Class A-4 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Total | Balance | Balance | Balance | Balance | |||||||||||
| Collections | ||||||||||||||||
| Principal Payments Received | $ | 57,919,031.39 | ||||||||||||||
| Interest Payments Received | $ | 10,581,469.45 | ||||||||||||||
| Net Precomputed Payahead Amount | $ | (75,396.55 | ) | |||||||||||||
| Aggregate Net Liquidation Proceeds Received | $ | 49,062.32 | ||||||||||||||
| Principal on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Interest on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Total Collections | $ | 68,474,166.61 | ||||||||||||||
| Net Simple Interest Advance Amount | $ | (106,652.37 | ) | |||||||||||||
| Net Precomputed Advance Amount | $ | (93,034.30 | ) | |||||||||||||
| Total Available Amount | $ | 68,274,479.94 | ||||||||||||||
Amounts Due | ||||||||||||||||
| Servicing Fee | $ | 1,161,454.36 | ||||||||||||||
| Accrued and Unpaid Interest | $ | 4,598,324.35 | ||||||||||||||
| Principal | $ | 57,993,625.63 | ||||||||||||||
| Reserve Fund | $ | 4,521,075.60 | ||||||||||||||
| Total Amount Due | $ | 68,274,479.94 | ||||||||||||||
Actual Distributions | ||||||||||||||||
| Servicing Fee | $ | 1,161,454.36 | ||||||||||||||
| Interest | $ | 4,598,324.35 | $ | 825,436.10 | $ | 1,451,450.00 | $ | 1,458,071.58 | $ | 863,366.67 | ||||||
| Principal | $ | 57,993,625.63 | $ | 57,993,625.63 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
| Reserve Fund | $ | 4,521,075.60 | ||||||||||||||
| Total Amount Distributed | $ | 68,274,479.94 | $ | 58,819,061.73 | $ | 1,451,450.00 | $ | 1,458,071.58 | $ | 863,366.67 | ||||||
| Monthly Information by Type of Loan | ||||||
Precomputed Contracts | ||||||
| Scheduled Principal Collections | $ | 2,067,517.44 | ||||
| Prepayments in Full | 159 contracts | $ | 908,725.18 | |||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Payments Behind/Ahead on Repurchased Receivables | $ | 0.00 | ||||
| Total Collections | $ | 3,510,994.26 | ||||
| Advances—Reimbursement of Previous Advances | $ | 93,034.30 | ||||
| Advances—Current Advance Amount | $ | 0.00 | ||||
| Payahead Account—Payments Applied | $ | 0.00 | ||||
| Payahead Account—Additional Payaheads | $ | 75,396.55 | ||||
Simple Interest Contracts | ||||||
| Collected Principal | $ | 30,782,417.50 | ||||
| Prepayments in Full | 1939 contracts | $ | 24,160,371.27 | |||
| Collected Interest | $ | 10,046,717.81 | ||||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Repurchased Receivables Interest | $ | 0.00 | ||||
| Advances—Reimbursement of Previous Advances | $ | 106,652.37 | ||||
| Advances—Current Advance Amount | $ | 0.00 | ||||
Page 3
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of November 15, 2001 for the Collection Period
October 1, 2001 through October 31, 2001
| | Class A3 | |||
|---|---|---|---|---|
| | Balance | |||
| 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 | |||
Interest Payments | ||||
| Interest Calculation for Current Interest Period | 873,722.08 | |||
| At Certificate Payment Date: | ||||
| Due to Swap Counterparty (Swap Payments Outgoing) | 1,458,071.58 | |||
| Paid to Swap Counterparty (Swap Payments Outgoing) | 1,458,071.58 | |||
| Proration % 0.00% | ||||
| Interest Due to Noteholders (Swap Payments Incoming) | 873,722.08 | |||
| Interest Payment to Noteholders (Swap Payments Incoming) | 873,722.08 | |||
Net Swap Payment due to / (received by) Swap Counterparty | (584,349.50 | ) | ||
Principal Payments | ||||
| Principal Payment due to Investors | — | |||
| Ending Notional Balance | 391,000,000.00 | |||
| Swap Termination Payment | N/A | |||
| Note Rates for December 17, 2001 Payment Date | ||||
| One Month LIBOR | 2.08000 | % | ||
| Spread | 0.07000 | % | ||
| Note Rates: | 2.15000 | % | ||
Number of Days in Interest Period (Days) | 32 | |||
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 |
