TOYOTA MOTOR CREDIT CORPORATION
Servicer's Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of February 15, 2002 for the Collection Period January 1, 2002 through January 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 | $ | 953,161,049.05 | $ | 0.00 | $ | 418,161,049.05 | $ | 360,000,000.00 | $ | 175,000,000.00 | ||||||
| Receivables Pool Balance | $ | 998,104,093.05 | ||||||||||||||
| Securities Pool Factor | 0.65606746 | 0.00000000 | 0.83632210 | 1.00000000 | 1.00000000 | |||||||||||
| Number of Contracts | 96,070 | |||||||||||||||
| Weighted Average Coupon | 9.242 | % | ||||||||||||||
| Weighted Average Remaining Term | 39.00 | months | ||||||||||||||
| Precompute and Simple Interest Advances | $ | 4,014,288.08 | ||||||||||||||
| Payahead Account Balance | $ | 1,419,642.91 | ||||||||||||||
| 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 | $ | 901,771,473.15 | $ | 0.00 | $ | 366,771,473.15 | $ | 360,000,000.00 | $ | 175,000,000.00 | ||||||
| Receivables Pool Balance | $ | 946,714,517.15 | ||||||||||||||
| Securities Pool Factor | 0.62069565 | 0.00000000 | 0.73354295 | 1.00000000 | 1.00000000 | |||||||||||
| Number of Contracts | 93,066 | |||||||||||||||
| Weighted Average Coupon | 9.259 | % | ||||||||||||||
| Weighted Average Remaining Term | 38.27 | months | ||||||||||||||
| Precompute and Simple Interest Advances | $ | 3,533,196.26 | ||||||||||||||
| Payahead Account Balance | $ | 1,528,661.13 | ||||||||||||||
| Interest Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
| Principal Shortfall | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
Page 1
| | | |||
|---|---|---|---|---|
| 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 i or ii met) | 5.50% | |||
| Specified Reserve Fund Amount(if Condition i or ii met) | $ | 49,597,431.02 | ||
| Beginning Balance | $ | 7,488,915.22 | ||
| Total Withdraw | $ | 0.00 | ||
| Amount Available for Deposit to the Reserve Fund | $ | 2,631,308,94 | ||
| Reserve Fund Balance Prior to Release | $ | 10,120,224.16 | ||
| Reserve Fund Required Amount | $ | 7,488,915.22 | ||
| Reserve Fund Release to Seller | $ | 2,631,308.94 | ||
| Ending Reserve Fund Balance | $ | 7,488,915.22 | ||
Liquidation of Charge-offs and Repossessions | Vehicles | Amount | |||||
|---|---|---|---|---|---|---|---|
| Liquidated Contracts | 88 | ||||||
| Gross Principal Balance of Liquidated Receivables | $ | 677,618.63 | |||||
| Net Liquidation Proceeds Received During the Collection Period | $ | (266,749.92 | ) | ||||
| Recoveries on Previously Liquidated Contracts | $ | (13,796.32 | ) | ||||
| Aggregate Credit Losses for the Collection Period | $ | 397,072.39 | |||||
| Cumulative Credit Losses for all Periods | 523 | $ | 2,443,518.10 | ||||
| Repossessed in Current Period | 100 | ||||||
Ratio of Net Credit Losses to the Average Pool Balance for Each Collection Period: | Annualized Average Charge-Off Rate | ||||||
| Second Preceding Collection Period | 0.39% | ||||||
| First Preceding Collection Period | 0.39% | ||||||
| Current Collection Period | 0.49% | ||||||
| Condition (i) (Charge-off Rate) | |||||||
| Three Month Average | 0.42% | ||||||
| Charge-off Rate Indicator (> 1.25%) | condition not met | ||||||
Page 2
| Delinquent and Repossessed Contracts | Percent | Contracts | Percent | Amount | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 31-60 Days Delinquent | 1.89 | % | 1,757 | 1.94 | % | $ | 18,408,098.84 | ||||
| 61-90 Days Delinquent | 0.41 | % | 378 | 0.47 | % | $ | 4,472,282.10 | ||||
| Over 90 Days Delinquent | 0.36 | % | 335 | 0.43 | % | $ | 4,071,647.28 | ||||
| Total Delinquencies | 2,470 | $ | 26,952,028.22 | ||||||||
Repossessed Vehicle Inventory | 200 | * | |||||||||
| * 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 | 0.49 | % | |||||||||
| First Preceding Collection Period | 0.67 | % | |||||||||
| Current Collection Period | 0.77 | % | |||||||||
Condition (ii) (Delinquency Percentage) | |||||||||||
| Three Month Average | 0.64 | % | |||||||||
| Delinquency Percentage Indicator (> 1.25%) | condition not met | ||||||||||
Page 3
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of February 15, 2002 for the Collection Period January 1, 2002 through January 31, 2002
| | Total | Class A-1 Balance | Class A-2 Balance | Class A-3 Balance | Class A-4 Balance | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collections | ||||||||||||||||
| Principal Payments Received | $ | 50,711,957.27 | ||||||||||||||
| Interest Payments Received | $ | 8,327,020.37 | ||||||||||||||
| Net Precomputed Payahead Amount | $ | (109,018.22 | ) | |||||||||||||
| Aggregate Net Liquidation Proceeds Received | $ | 280,546.24 | ||||||||||||||
| Principal on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Interest on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Total Collections | $ | 59,210,505.66 | ||||||||||||||
| Net Simple Interest Advance Amount | $ | (336,453.04 | ) | |||||||||||||
| Net Precomputed Advance Amount | $ | (144,638.78 | ) | |||||||||||||
| Total Available Amount | $ | 58,729,413.84 | ||||||||||||||
Amounts Due | ||||||||||||||||
| Servicing Fee | $ | 831,753.41 | ||||||||||||||
| Accrued and Unpaid Interest | $ | 3,876,775.59 | ||||||||||||||
| Principal | $ | 51,389,575.90 | ||||||||||||||
| Reserve Fund | $ | 2,631,308.94 | ||||||||||||||
| Total Amount Due | $ | 58,729,413.84 | ||||||||||||||
Actual Distributions | ||||||||||||||||
| Servicing Fee | $ | 831,753.41 | ||||||||||||||
| Interest | $ | 3,876,775.59 | $ | 0.00 | $ | 1,589,708.92 | $ | 1,505,400.00 | $ | 781,666.67 | ||||||
| Principal | $ | 51,389,575.90 | $ | 0.00 | $ | 51,389,575.90 | $ | 0.00 | $ | 0.00 | ||||||
| Reserve Fund | $ | 2,631,308.94 | ||||||||||||||
| Total Amount Distributed | $ | 58,729,413.84 | $ | 0.00 | $ | 52,979,284.82 | $ | 1,505,400.00 | $ | 781,666.67 | ||||||
Page 4
| Monthly Information by Type of Loan | | | ||||
|---|---|---|---|---|---|---|
| Precomputed Contracts | ||||||
| Scheduled Principal Collections | $ | 4,559,314.52 | ||||
| Prepayments in Full | 568 contracts | $ | 2,129,431.30 | |||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Payments Behind/Ahead on Repurchased Receivables | $ | 0.00 | ||||
| Total Collections | $ | 7,811,777.79 | ||||
| Advances—Reimbursement of Previous Advances | $ | 144,638.78 | ||||
| Advances—Current Advance Amount | $ | 0.00 | ||||
| Payahead Account—Payments Applied | $ | 0.00 | ||||
| Payahead Account—Additional Payaheads | $ | 109,018.22 | ||||
Simple Interest Contracts | ||||||
| Collected Principal | $ | 25,726,525.74 | ||||
| Prepayments in Full | 2,348 contracts | $ | 18,296,685.71 | |||
| Collected Interest | $ | 7,203,988.40 | ||||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Repurchased Receivables Interest | $ | 0.00 | ||||
| Advances—Reimbursement of Previous Advances | $ | 336,453.04 | ||||
| Advances—Current Advance Amount | $ | 0.00 | ||||
Page 5
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of February 15, 2002 for the Collection Period of January 1 through January 31, 2002
| | Class A2 Balance | Class A3 Balance | Class A4 Balance | |||||
|---|---|---|---|---|---|---|---|---|
| Note Rates for February 15, 2002 Payment Date | ||||||||
| One Month LIBOR | 1.82000 | % | 1.82000 | % | 1.82000 | % | ||
| Spread | 0.06000 | % | 0.08000 | % | 0.10000 | % | ||
| Note Rates: | 1.88000 | % | 1.90000 | % | 1.92000 | % | ||
| Number of Days in Interest Period (Days) | 31 | 31 | 31 | |||||
| Interest Payments | ||||||||
| Interest Calculation for Current Interest Period | 676,956.28 | 589,000.00 | 289,333.33 | |||||
| At Certificate Payment Date: | ||||||||
| Due to Swap Counterparty (Swap Payments Outgoing) | 1,589,708.92 | 1,505,400.00 | 781,666.67 | |||||
| Paid to Swap Counterparty (Swap Payments Outgoing) | 1,589,708.92 | 1,505,400.00 | 781,666.67 | |||||
| Proration % 0.00% | ||||||||
| Interest Due to Noteholders (Swap Payments Incoming) | 676,956.28 | 589,000.00 | 289,333.33 | |||||
| Interest Payment to Noteholders (Swap Payments Incoming) | 676,956.28 | 589,000.00 | 289,333.33 | |||||
| Net Swap Payment due to / (received by) Swap Counterparty | (912,752.64 | ) | (916,400.00 | ) | (492,333.34 | ) | ||
Principal Payments | ||||||||
| Beginning Notional Balance | 418,161,049.05 | 360,000,000.00 | 175,000,000.00 | |||||
| Principal Payment due to Investors | 51,389,575.90 | — | — | |||||
| Ending Notional Balance | 366,771,473.15 | 360,000,000.00 | 175,000,000.00 | |||||
Swap Termination Payment | N/A | N/A | N/A | |||||
Note Rates for March 15, 2002 Payment Date | ||||||||
| One Month LIBOR | 1.84750 | % | 1.84750 | % | 1.84750 | % | ||
| Spread | 0.06000 | % | 0.08000 | % | 0.10000 | % | ||
| Note Rates: | 1.90750 | % | 1.92750 | % | 1.94750 | % | ||
| Number of Days in Interest Period (Days) | 28 | 28 | 28 | |||||
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 |
