TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of April 15, 2002 for the Collection Period
March 1, 2002 through March 31, 2002
| | Total | Class A-1 Balance | Class A-2 Balance | Class A-3 Balance | Class A-4 Balance | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Pool Data—Original Deal Parameters | |||||||||||||||||
| Securities Balance | $ | 1,452,840,000.00 | $ | 417,840,000.00 | $ | 500,000,000.00 | $ | 360,000,000.00 | $ | 175,000,000.00 | |||||||
| Receivables Pool Balance | $ | 1,497,783,044.00 | |||||||||||||||
| Principal Factor | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Rate | 4.300 | % | 4.562 | % | 5.018 | % | 5.360 | % | |||||||||
| Final Scheduled Payment Date | May 15, 2002 | December 15, 2003 | March 15, 2005 | October 15, 2007 | |||||||||||||
| Number of Contracts | 119,098 | ||||||||||||||||
| Weighted Average Coupon | 9.137 | % | |||||||||||||||
| Weighted Average Remaining Term | 45.70 | months | |||||||||||||||
| Servicing Fee Rate | 1.00 | % | |||||||||||||||
Pool Data—Prior Month | |||||||||||||||||
| Securities Balance | $ | 856,440,482.80 | $ | 0.00 | $ | 321,440,482.80 | $ | 360,000,000.00 | $ | 175,000,000.00 | |||||||
| Receivables Pool Balance | $ | 901,383,526.80 | |||||||||||||||
| Securities Pool Factor | 0.58949401 | 0.00000000 | 0.64288097 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 90,300 | ||||||||||||||||
| Weighted Average Coupon | 9.273 | % | |||||||||||||||
| Weighted Average Remaining Term | 37.60 | months | |||||||||||||||
| Precompute and Simple Interest Advances | $ | 3,667,046.88 | |||||||||||||||
| Payahead Account Balance | $ | 1,444,151.99 | |||||||||||||||
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 | $ | 808,085,619.46 | $ | 0.00 | $ | 273,085,619.46 | $ | 360,000,000.00 | $ | 175,000,000.00 | |||||||
| Receivables Pool Balance | $ | 853,028,663.46 | |||||||||||||||
| Securities Pool Factor | 0.55621102 | 0.00000000 | 0.54617124 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 87,314 | ||||||||||||||||
| Weighted Average Coupon | 9.286 | % | |||||||||||||||
| Weighted Average Remaining Term | 36.86 | months | |||||||||||||||
| Precompute and Simple Interest Advances | $ | 3,734,778.02 | |||||||||||||||
| Payahead Account Balance | $ | 1,474,766.27 | |||||||||||||||
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 Fund | |||||||||||||||||
| Initial Deposit Amount | $ | 3,744,458.00 | |||||||||||||||
| Specified Reserve Fund Percentage | 0.75 | % | |||||||||||||||
| Specified Reserve Fund Amount | $ | 7,488,915.22 | |||||||||||||||
| Specified Reserve Fund Percentage (if Condition ior ii met) | 5.50 | % | |||||||||||||||
| Specified Reserve Fund Amount (if Condition ior ii met) | $ | 44,444,709.07 | |||||||||||||||
Beginning Balance | $ | 7,488,915.22 | |||||||||||||||
| Total Withdraw | $ | 0.00 | |||||||||||||||
| Amount Available for Deposit to the Reserve Fund | $ | 2,014,334.67 | |||||||||||||||
| Reserve Fund Balance Prior to Release | $ | 9,503,249.89 | |||||||||||||||
| Reserve Fund Required Amount | $ | 7,488,915.22 | |||||||||||||||
| Reserve Fund Release to Seller | $ | 2,014,334.67 | |||||||||||||||
| Ending Reserve Fund Balance | $ | 7,488,915.22 | |||||||||||||||
Page 1
Liquidation of Charge-offs and Repossessions
| | Vehicles | Amount | |||||
|---|---|---|---|---|---|---|---|
| Liquidated Contracts | 123 | ||||||
| Gross Principal Balance of Liquidated Receivables | $ | 1,366,379.34 | |||||
| Net Liquidation Proceeds Received During the Collection Period | $ | (708,673.43 | ) | ||||
| Recoveries on Previously Liquidated Contracts | $ | (21,312.85 | ) | ||||
| Aggregate Credit Losses for the Collection Period | $ | 636,393.06 | |||||
| Cumulative Credit Losses for all Periods | 753 | $ | 3,494,140.68 | ||||
| Repossessed in Current Period | 64 | ||||||
| Ratio of Net Credit Losses to the Average Pool Balance for Each Collection Period: | Annualized Average Charge-Off Rate | ||
|---|---|---|---|
| Second Preceding Collection Period | 0.49% | ||
| First Preceding Collection Period | 0.54% | ||
| Current Collection Period | 0.87% | ||
| Condition (i) (Charge-off Rate) | |||
| Three Month Average | 0.63% | ||
| Charge-off Rate Indicator (> 1.25%) | condition not met | ||
Delinquent and Repossessed Contracts
| | Percent | Contracts | Percent | Amount | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 31-60 Days Delinquent | 1.97 | % | 1,718 | 2.05 | % | $ | 17,483,367.38 | ||||
| 61-90 Days Delinquent | 0.36 | % | 313 | 0.42 | % | $ | 3,542,615.93 | ||||
| Over 90 Days Delinquent | 0.43 | % | 373 | 0.51 | % | $ | 4,336,065.86 | ||||
| Total Delinquencies | 2,404 | $ | 25,362,049.17 | ||||||||
| Repossessed Vehicle Inventory | 165* | ||||||||||
| * 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 | 0.77 | % | |||||||||
| First Preceding Collection Period | 0.76 | % | |||||||||
| Current Collection Period | 0.79 | % | |||||||||
| Condition (ii) (Delinquency Percentage) | |||||||||||
| Three Month Average | 0.77 | % | |||||||||
| Delinquency Percentage Indicator (> 1.25%) | condition not met | ||||||||||
Page 2
TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S Report—Toyota Auto Receivables 2001-B 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 | $ | 46,988,484.00 | ||||||||||||||
| Interest Payments Received | $ | 6,873,840.05 | ||||||||||||||
| Net Precomputed Payahead Amount | ($ | 30,614.28 | ) | |||||||||||||
| Aggregate Net Liquidation Proceeds Received | $ | 729,986.28 | ||||||||||||||
| Principal on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Interest on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Total Collections | $ | 54,561,696.05 | ||||||||||||||
| Net Simple Interest Advance Amount | $ | 214,605.98 | ||||||||||||||
| Net Precomputed Advance Amount | ($ | 146,874.84 | ) | |||||||||||||
| Total Available Amount | $ | 54,629,427.19 | ||||||||||||||
Amounts Due | ||||||||||||||||
| Servicing Fee | $ | 751,152.94 | ||||||||||||||
| Accrued and Unpaid Interest | $ | 3,509,076.24 | ||||||||||||||
| Principal | $ | 48,354,863.34 | ||||||||||||||
| Reserve Fund | $ | 2,014,334.67 | ||||||||||||||
| Total Amount Due | $ | 54,629,427.19 | ||||||||||||||
Actual Distributions | ||||||||||||||||
| Servicing Fee | $ | 751,152.94 | ||||||||||||||
| Interest | $ | 3,509,076.24 | $ | 0.00 | $ | 1,222,009.57 | $ | 1,505,400.00 | $ | 781,666.67 | ||||||
| Principal | $ | 48,354,863.34 | $ | 0.00 | $ | 48,354,863.34 | $ | 0.00 | $ | 0.00 | ||||||
| Reserve Fund | $ | 2,014,334.67 | ||||||||||||||
| Total Amount Distributed | $ | 54,629,427.19 | $ | 0.00 | $ | 49,576,872.91 | $ | 1,505,400.00 | $ | 781,666.67 | ||||||
Monthly Information by Type of Loan
| Precomputed Contracts | ||||||
| Scheduled Principal Collections | $ | 4,211,021.81 | ||||
| Prepayments in Full | 583 contracts | $ | 2,088,516.73 | |||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Payments Behind/Ahead on Repurchased Receivables | $ | 0.00 | ||||
| Total Collections | $ | 7,248,025.16 | ||||
| Advances—Reimbursement of Previous Advances | $ | 146,874.84 | ||||
| Advances—Current Advance Amount | $ | 0.00 | ||||
| Payahead Account—Payments Applied | $ | 0.00 | ||||
| Payahead Account—Additional Payaheads | $ | 30,614.28 | ||||
Simple Interest Contracts | ||||||
| Collected Principal | $ | 24,519,935.48 | ||||
| Prepayments in Full | 2280 contracts | $ | 16,169,009.98 | |||
| Collected Interest | $ | 5,925,353.43 | ||||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Repurchased Receivables Interest | $ | 0.00 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 214,605.98 | ||||
Page 3
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of April 15, 2002 for the Collection Period of
March 1 through March 31, 2002
| | Class A2 Balance | Class A3 Balance | Class A4 Balance | |||||
|---|---|---|---|---|---|---|---|---|
| Note Rates for April 15, 2002 Payment Date | ||||||||
| One Month LIBOR | 1.90000% | 1.90000% | 1.90000% | |||||
| Spread | 0.06000% | 0.08000% | 0.10000% | |||||
| Note Rates: | 1.96000% | 1.98000% | 2.00000% | |||||
Number of Days in Interest Period (Days) | 31 | 31 | 31 | |||||
Interest Payments | ||||||||
| Interest Calculation for Current Interest Period | 542,520.10 | 613,800.00 | 301,388.89 | |||||
| At Certificate Payment Date: | ||||||||
| Due to Swap Counterparty (Swap Payments Outgoing) | 1,222,009.57 | 1,505,400.00 | 781,666.67 | |||||
| Paid to Swap Counterparty (Swap Payments Outgoing) | 1,222,009.57 | 1,505,400.00 | 781,666.67 | |||||
| Proration % 0.00% | ||||||||
| Interest Due to Noteholders (Swap Payments Incoming) | 542,520.10 | 613,800.00 | 301,388.89 | |||||
| Interest Payment to Noteholders (Swap Payments Incoming) | 542,520.10 | 613,800.00 | 301,388.89 | |||||
Net Swap Payment due to / (received by) Swap Counterparty | (679,489.47 | ) | (891,600.00 | ) | (480,277.78 | ) | ||
| Principal Payments | ||||||||
| Beginning Notional Balance | 321,440,482.80 | 360,000,000.00 | 175,000,000.00 | |||||
| Principal Payment due to Investors | 48,354,863.34 | — | — | |||||
| Ending Notional Balance | 273,085,619.46 | 360,000,000.00 | 175,000,000.00 | |||||
| Swap Termination Payment | N/A | N/A | N/A | |||||
| Note Rates for May 15, 2002 Payment Date | ||||||||
| One Month LIBOR | 1.86000% | 1.86000% | 1.86000% | |||||
| Spread | 0.06000% | 0.08000% | 0.10000% | |||||
| Note Rates: | 1.92000% | 1.94000% | 1.96000% | |||||
Number of Days in Interest Period (Days) | 30 | 30 | 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 | ||
Page 4
