TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of January 15, 2002 for the Collection Period December 1, 2001 through December 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 | $ | 1,236,480,469.25 | $ | 163,980,469.25 | $ | 462,000,000.00 | $ | 391,000,000.00 | $ | 219,500,000.00 | |||||||
| Receivables Pool Balance | $ | 1,281,480,470.25 | |||||||||||||||
| Securities Pool Factor | 0.84981476 | 0.42870711 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 96,331 | ||||||||||||||||
| Weighted Average A.P.R. | 8.57 | % | |||||||||||||||
| Weighted Average Remaining Term | 47.49 | months | |||||||||||||||
| Precompute and Simple Interest Advances | $ | 2,597,964.42 | |||||||||||||||
| Payahead Account Balance | $ | 838,844.04 | |||||||||||||||
| 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 | $ | 1,185,542,704.00 | $ | 113,042,704.00 | $ | 462,000,000.00 | $ | 391,000,000.00 | $ | 219,500,000.00 | |||||||
| Receivables Pool Balance | $ | 1,230,542,705.00 | |||||||||||||||
| Securities Pool Factor | 0.81480598 | 0.29553648 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 94,156 | ||||||||||||||||
| Weighted Average A.P.R. | 8.58 | % | |||||||||||||||
| Weighted Average Remaining Term | 46.71 | months | |||||||||||||||
| Precompute and Simple Interest Advances | $ | 2,981,645.79 | |||||||||||||||
| Payahead Account Balance | $ | 777,222.22 | |||||||||||||||
| 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) | $ | 65,204,848.72 | |||||||||||||||
| Beginning Balance | $ | 0.00 | |||||||||||||||
| Total Withdraw | $ | 0.00 | |||||||||||||||
| Amount Available for Deposit to the Reserve Account | $ | 3,893,943.51 | |||||||||||||||
| Reserve Account Balance Prior to Release | $ | 3,893,943.51 | |||||||||||||||
| Reserve Account Required Amount | $ | 0.00 | |||||||||||||||
| Reserve Account Release to Seller | $ | 3,893,943.51 | |||||||||||||||
| 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 | 28 | ||||||
| Gross Principal Balance of Liquidated Receivables | $ | 351,173.92 | |||||
| Net Liquidation Proceeds Received During the Collection Period | $ | (189,805.77 | ) | ||||
| Recoveries on Previously Liquidated Contracts | $ | (260.00 | ) | ||||
| Aggregate Credit Losses for the Collection Period | $ | 161,108.15 | |||||
| Cumulative Credit Losses for all Periods | 59 | $ | 269,095.09 | ||||
| Repossessed in Current Period | 33 | ||||||
Ratio of Net Credit Losses to the Average Pool Balance for Each Collection Period: | Annualized Average Charge-Off Rate | ||||||
| Second Preceding Collection Period | 0.02% | ||||||
| First Preceding Collection Period | 0.07% | ||||||
| Current Collection Period | 0.15% | ||||||
Condition (i) (Charge-off Rate) | |||||||
| Three Month Average | 0.08% | ||||||
| Charge-off Rate Indicator (> 1.25%) | condition not met | ||||||
Delinquent and Repossessed Contracts
| | Percent | Contracts | Percent | Amount | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 31-60 Days Delinquent | 1.26 | % | 1,182 | 1.19 | % | $ | 14,693,136.38 | |||
| 61-90 Days Delinquent | 0.19 | % | 178 | 0.20 | % | $ | 2,474,305.58 | |||
| Over 90 Days Delinquent | 0.13 | % | 127 | 0.15 | % | $ | 1,805,961.82 | |||
| Total Delinquencies | 1,487 | $ | 18,973,403.78 | |||||||
| Repossessed Vehicle Inventory | 99 | * | ||||||||
| 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 | 0.13% | ||
| First Preceding Collection Period | 0.22% | ||
| Current Collection Period | 0.32% | ||
| Condition (ii) (Delinquency Percentage) | |||
| Three Month Average | 0.22% | ||
| 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 January 15, 2002 for the Collection Period December 1, 2001 through December 31, 2001
Page 2
| | | Class A-1 | Class A-2 | Class A-3 | Class A-4 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Total | Balance | Balance | Balance | Balance | |||||||||||
Collections | ||||||||||||||||
| Principal Payments Received | $ | 50,586,591.33 | ||||||||||||||
| Interest Payments Received | $ | 8,908,908.07 | ||||||||||||||
| Net Precomputed Payahead Amount | $ | 61,621.82 | ||||||||||||||
| Aggregate Net Liquidation Proceeds Received | $ | 190,065.77 | ||||||||||||||
| Principal on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Interest on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Total Collections | $ | 59,747,186.99 | ||||||||||||||
| Net Simple Interest Advance Amount | $ | 356,649.06 | ||||||||||||||
| Net Precomputed Advance Amount | $ | 27,032.31 | ||||||||||||||
| Total Available Amount | $ | 60,130,868.36 | ||||||||||||||
Amounts Due | ||||||||||||||||
| Servicing Fee | $ | 1,067,900.39 | ||||||||||||||
| Accrued and Unpaid Interest | $ | 4,231,259.21 | ||||||||||||||
| Principal | $ | 50,937,765.25 | ||||||||||||||
| Reserve Fund | $ | 3,893,943.51 | ||||||||||||||
| Total Amount Due | $ | 60,130,868.36 | ||||||||||||||
Actual Distributions | ||||||||||||||||
| Servicing Fee | $ | 1,067,900.39 | ||||||||||||||
| Interest | $ | 4,231,259.21 | $ | 458,370.96 | $ | 1,451,450.00 | $ | 1,458,071.58 | $ | 863,366.67 | ||||||
| Principal | $ | 50,937,765.25 | $ | 50,937,765.25 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
| Reserve Fund | $ | 3,893,943.51 | ||||||||||||||
| Total Amount Distributed | $ | 60,130,868.36 | $ | 51,396,136.21 | $ | 1,451,450.00 | $ | 1,458,071.58 | $ | 863,366.67 | ||||||
Page 3
Monthly Information by Type of Loan
| Precomputed Contracts | ||||||
| Scheduled Principal Collections | $ | 1,905,446.17 | ||||
| Prepayments in Full | 251 | contracts | $ | 883,613.38 | ||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Payments Behind/Ahead on Repurchased Receivables | $ | 0.00 | ||||
| Total Collections | $ | 3,012,874.54 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 27,032.31 | ||||
| Payahead Account—Payments Applied | $ | 61,621.82 | ||||
| Payahead Account—Additional Payaheads | $ | 0.00 | ||||
Simple Interest Contracts | ||||||
| Collected Principal | $ | 27,782,723.27 | ||||
| Prepayments in Full | 1896 | contracts | $ | 20,014,808.51 | ||
| Collected Interest | $ | 8,685,093.08 | ||||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Repurchased Receivables Interest | $ | 0.00 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 356,649.06 | ||||
Page 4
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Payment Date of January 15, 2002 for the Collection Period of December 1 through December 31, 2001
| | Class A3 | |||
|---|---|---|---|---|
| | Balance | |||
| Note Rates for January 15, 2002 Payment Date | ||||
| One Month LIBOR | 1.89563 | % | ||
| Spread | 0.07000 | % | ||
| Note Rates: | 1.96563 | % | ||
Number of Days in Interest Period (Days) | 29 | |||
Interest Payments | ||||
| Interest Calculation for Current Interest Period | 619,118.85 | |||
| 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) | 619,118.85 | |||
| Interest Payment to Noteholders (Swap Payments Incoming) | 619,118.85 | |||
Net Swap Payment due to / (received by) Swap Counterparty | (838,952.73 | ) | ||
Principal Payments | ||||
| Principal Payment due to Investors | — | |||
| Ending Notional Balance | 391,000,000.00 | |||
Swap Termination Payment | N/A | |||
Note Rates for February 15, 2002 Payment Date | ||||
| One Month LIBOR | 1.82000 | % | ||
| Spread | 0.07000 | % | ||
| Note Rates: | 1.89000 | % | ||
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 |
Page 5
