TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of April 15, 2002 for the Collection Period
March 1, 2002 through March 31, 2002
| | | 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 | $ | 1,086,896,866.78 | $ | 14,396,866.78 | $ | 462,000,000.00 | $ | 391,000,000.00 | $ | 219,500,000.00 | |||||||
| Receivables Pool Balance | $ | 1,131,896,867.78 | |||||||||||||||
| Securities Pool Factor | 0.74700816 | 0.03763887 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 89,623 | ||||||||||||||||
| Weighted Average A.P.R. | 8.59 | % | |||||||||||||||
| Weighted Average Remaining Term | 45.19 months | ||||||||||||||||
| Precompute and Simple Interest Advances | $ | 2,711,221.57 | |||||||||||||||
| Payahead Account Balance | $ | 731,177.32 | |||||||||||||||
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 | $ | 1,036,466,058.59 | $ | 0.00 | $ | 425,966,058.59 | $ | 391,000,000.00 | $ | 219,500,000.00 | |||||||
| Receivables Pool Balance | $ | 1,081,466,059.59 | |||||||||||||||
| Securities Pool Factor | 0.71234781 | 0.00000000 | 0.92200446 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 87,145 | ||||||||||||||||
| Weighted Average A.P.R. | 8.60 | % | |||||||||||||||
| Weighted Average Remaining Term | 44.39 months | ||||||||||||||||
| Precompute and Simple Interest Advances | $ | 2,982,498.80 | |||||||||||||||
| Payahead Account Balance | $ | 711,368.34 | |||||||||||||||
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) | $ | 57,005,633.22 | |||
Beginning Balance | $ | 0.00 | |||
| Total Withdraw | $ | 0.00 | |||
| Amount Available for Deposit to the Reserve Account | $ | 2,979,146.88 | |||
| Reserve Account Balance Prior to Release | $ | 2,979,146.88 | |||
| Reserve Account Required Amount | $ | 0.00 | |||
| Reserve Account Release to Seller | $ | 2,979,146.88 | |||
| 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 | 69 | ||||||
| Gross Principal Balance of Liquidated Receivables | $ | 852,094.06 | |||||
| Net Liquidation Proceeds Received During the Collection Period | $ | (456,763.12 | ) | ||||
| Recoveries on Previously Liquidated Contracts | $ | (8,665.32 | ) | ||||
| Aggregate Credit Losses for the Collection Period | $ | 386,665.62 | |||||
| Cumulative Credit Losses for all Periods | 239 | $ | 1,150,415.92 | ||||
| Repossessed in Current Period | 28 | ||||||
| Ratio of Net Credit Losses to the Average Pool Balance for Each Collection Period: | Annualized Average Charge-Off Rate | ||
|---|---|---|---|
| Second Preceding Collection Period | 0.19% | ||
| First Preceding Collection Period | 0.31% | ||
| Current Collection Period | 0.42% | ||
Condition (i)(Charge-off Rate) | |||
| Three Month Average | 0.31% | ||
| Charge-off Rate Indicator (> 1.25%) | condition not met | ||
Delinquent and Repossessed Contracts
| | Percent | Contracts | Percent | Amount | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 31-60 Days Delinquent | 1.16 | % | 1,012 | 1.14 | % | $ | 12,321,631.25 | |||
| 61-90 Days Delinquent | 0.15 | % | 132 | 0.17 | % | $ | 1,828,418.59 | |||
| Over 90 Days Delinquent | 0.19 | % | 169 | 0.20 | % | $ | 2,212,928.31 | |||
| Total Delinquencies | 1,313 | $ | 16,362,978.15 | |||||||
| Repossessed Vehicle Inventory | 64 | * | ||||||||
| 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 | 0.39% | ||
| First Preceding Collection Period | 0.37% | ||
| Current Collection Period | 0.35% | ||
| Condition (ii)(Delinquency Percentage) | |||
| Three Month Average | 0.37% | ||
| Delinquency Percentage Indicator (> 1.25%) | condition not met | ||
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of April 15, 2002 for the Collection Period
March 1, 2002 through March 31, 2002
| | | Class A-1 | Class A-2 | Class A-3 | Class A-4 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Total | Balance | Balance | Balance | Balance | |||||||||||
| Collections | ||||||||||||||||
| Principal Payments Received | $ | 49,578,714.13 | ||||||||||||||
| Interest Payments Received | $ | 7,833,880.57 | ||||||||||||||
| Net Precomputed Payahead Amount | $ | 19,808.98 | ||||||||||||||
| Aggregate Net Liquidation Proceeds Received | $ | 465,428.44 | ||||||||||||||
| Principal on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Interest on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Total Collections | $ | 57,897,832.12 | ||||||||||||||
| Net Simple Interest Advance Amount | $ | 341,209.85 | ||||||||||||||
| Net Precomputed Advance Amount | $ | (69,932.62 | ) | |||||||||||||
| Total Available Amount | $ | 58,169,109.35 | ||||||||||||||
Amounts Due | ||||||||||||||||
| Servicing Fee | $ | 943,247.39 | ||||||||||||||
| Accrued and Unpaid Interest | $ | 3,815,906.89 | ||||||||||||||
| Principal | $ | 50,430,808.19 | ||||||||||||||
| Reserve Fund | $ | 2,979,146.88 | ||||||||||||||
| Total Amount Due | $ | 58,169,109.35 | ||||||||||||||
Actual Distributions | ||||||||||||||||
| Servicing Fee | $ | 943,247.39 | ||||||||||||||
| Interest | $ | 3,815,906.89 | $ | 43,018.64 | $ | 1,451,450.00 | $ | 1,458,071.58 | $ | 863,366.67 | ||||||
| Principal | $ | 50,430,808.19 | $ | 14,396,866.78 | $ | 36,033,941.41 | $ | 0.00 | $ | 0.00 | ||||||
| Reserve Fund | $ | 2,979,146.88 | ||||||||||||||
| Total Amount Distributed | $ | 58,169,109.35 | $ | 14,439,885.42 | $ | 37,485,391.41 | $ | 1,458,071.58 | $ | 863,366.67 | ||||||
Monthly Information by Type of Loan
| Precomputed Contracts | ||||||
| Scheduled Principal Collections | $ | 1,695,154.83 | ||||
| Prepayments in Full | 228 contracts | $ | 747,937.54 | |||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Payments Behind/Ahead on Repurchased Receivables | $ | 0.00 | ||||
| Total Collections | $ | 2,749,464.64 | ||||
| Advances—Reimbursement of Previous Advances | $ | 69,932.62 | ||||
| Advances—Current Advance Amount | $ | 0.00 | ||||
| Payahead Account—Payments Applied | $ | 19,808.98 | ||||
| Payahead Account—Additional Payaheads | $ | 0.00 | ||||
Simple Interest Contracts | ||||||
| Collected Principal | $ | 27,496,541.90 | ||||
| Prepayments in Full | 2181 contracts | $ | 19,639,079.86 | |||
| Collected Interest | $ | 7,527,508.30 | ||||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Repurchased Receivables Interest | $ | 0.00 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 341,209.85 | ||||
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Payment Date of April 15, 2002 for the Collection Period
March 1 through March 31, 2002
| | | Class A3 | ||||
|---|---|---|---|---|---|---|
| | | Balance | ||||
| Note Rates for April 15, 2002 Payment Date | ||||||
| One Month LIBOR | 1.90000 | % | ||||
| Spread | 0.07000 | % | ||||
| Note Rates: | 1.97000 | % | ||||
Number of Days in Interest Period (Days) | 31 | |||||
Interest Payments | ||||||
| Interest Calculation for Current Interest Period | 663,288.06 | |||||
| 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) | 663,288.06 | |||||
| Interest Payment to Noteholders (Swap Payments Incoming) | 663,288.06 | |||||
Net Swap Payment due to / (received by) Swap Counterparty | (794,783.52 | ) | ||||
Principal Payments | ||||||
| Principal Payment due to Investors | — | |||||
| Ending Notional Balance | 391,000,000.00 | |||||
| Swap Termination Payment | N/A | |||||
| Note Rates for May 15, 2002 Payment Date | ||||||
| One Month LIBOR | 1.86000 | % | ||||
| Spread | 0.07000 | % | ||||
| Note Rates: | 1.93000 | % | ||||
Number of Days in Interest Period (Days) | 30 | |||||
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 |
