Exhibit 20
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of February 15, 2002 for the Collection Period January 1, 2002 through January 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 | $ | 1,185,542,704.00 | $ | 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 | |||||||
Pool Data—Current Month | |||||||||||||||||
| Securities Balance | $ | 1,133,707,910.56 | $ | 61,207,910.56 | $ | 462,000,000.00 | $ | 391,000,000.00 | $ | 219,500,000.00 | |||||||
| Receivables Pool Balance | $ | 1,178,707,911.56 | |||||||||||||||
| Securities Pool Factor | 0.77918069 | 0.16002068 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 91,773 | ||||||||||||||||
| Weighted Average A.P.R. | 8.58 | % | |||||||||||||||
| Weighted Average Remaining Term | 45.92 | months | |||||||||||||||
| Precompute and Simple Interest Advances | $ | 2,599,134.28 | |||||||||||||||
| Payahead Account Balance | $ | 808,532.16 | |||||||||||||||
| 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) | $ | 62,353,935.08 | |||||||||||||||
| Beginning Balance | $ | 0.00 | |||||||||||||||
| Total Withdraw | $ | 0.00 | |||||||||||||||
| Amount Available for Deposit to the Reserve Account | $ | 3,649,725.77 | |||||||||||||||
| Reserve Account Balance Prior to Release | $ | 3,649,725.77 | |||||||||||||||
| Reserve Account Required Amount | $ | 0.00 | |||||||||||||||
| Reserve Account Release to Seller | $ | 3,649,725.77 | |||||||||||||||
| 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 | 52 | ||||||
| Gross Principal Balance of Liquidated Receivables | $ | 532,935.04 | |||||
| Net Liquidation Proceeds Received During the Collection Period | $ | (336,886.83 | ) | ||||
| Recoveries on Previously Liquidated Contracts | $ | (1,259.88 | ) | ||||
| Aggregate Credit Losses for the Collection Period | $ | 194,788.33 | |||||
| Cumulative Credit Losses for all Periods | 111 | $ | 463,883.42 | ||||
| Repossessed in Current Period | 53 | ||||||
Ratio of Net Credit Losses to the Average Pool Balance for Each Collection Period: | Annualized Average Charge-Off Rate | ||||||
| Second Preceding Collection Period | 0.07% | ||||||
| First Preceding Collection Period | 0.15% | ||||||
| Current Collection Period | 0.19% | ||||||
Condition (i) (Charge-off Rate) | |||||||
| Three Month Average | 0.14% | ||||||
| Charge-off Rate Indicator (> 1.25%) | condition not met | ||||||
Delinquent and Repossessed Contracts
| | Percent | Contracts | Percent | Amount | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 31-60 Days Delinquent | 1.03 | % | 946 | 1.00 | % | $ | 11,823,718.94 | |||
| 61-90 Days Delinquent | 0.22 | % | 204 | 0.24 | % | $ | 2,774,985.45 | |||
| Over 90 Days Delinquent | 0.17 | % | 158 | 0.20 | % | $ | 2,357,434.08 | |||
| Total Delinquencies | 1,308 | $ | 16,956,138.47 | |||||||
| Repossessed Vehicle Inventory | 113 | * | ||||||||
| 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 | 0.22% | ||
| First Preceding Collection Period | 0.32% | ||
| Current Collection Period | 0.39% | ||
| Condition (ii) (Delinquency Percentage) | |||
| Three Month Average | 0.31% | ||
| 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 February 15, 2002 for the Collection Period January 1, 2002 through January 31, 2002
| | | Class A-1 | Class A-2 | Class A-3 | Class A-4 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Total | Balance | Balance | Balance | Balance | |||||||||||
Collections | ||||||||||||||||
| Principal Payments Received | $ | 51,301,858.40 | ||||||||||||||
| Interest Payments Received | $ | 9,394,453.93 | ||||||||||||||
| Net Precomputed Payahead Amount | $ | (31,309.94 | ) | |||||||||||||
| Aggregate Net Liquidation Proceeds Received | $ | 338,146.71 | ||||||||||||||
| Principal on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Interest on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Total Collections | $ | 61,003,149.10 | ||||||||||||||
| Net Simple Interest Advance Amount | $ | (311,537.30 | ) | |||||||||||||
| Net Precomputed Advance Amount | $ | (70,974.21 | ) | |||||||||||||
| Total Available Amount | $ | 60,620,637.59 | ||||||||||||||
Amounts Due | ||||||||||||||||
| Servicing Fee | $ | 1,025,452.25 | ||||||||||||||
| Accrued and Unpaid Interest | $ | 4,110,666.13 | ||||||||||||||
| Principal | $ | 51,834,793.44 | ||||||||||||||
| Reserve Fund | $ | 3,649,725.77 | ||||||||||||||
| Total Amount Due | $ | 60,620,637.59 | ||||||||||||||
Actual Distributions | ||||||||||||||||
| Servicing Fee | $ | 1,025,452.25 | ||||||||||||||
| Interest | $ | 4,110,666.13 | $ | 337,777.88 | $ | 1,451,450.00 | $ | 1,458,071.58 | $ | 863,366.67 | ||||||
| Principal | $ | 51,834,793.44 | $ | 51,834,793.44 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
| Reserve Fund | $ | 3,649,725.77 | ||||||||||||||
| Total Amount Distributed | $ | 60,620,637.59 | $ | 52,172,571.32 | $ | 1,451,450.00 | $ | 1,458,071.58 | $ | 863,366.67 | ||||||
Page 3
Monthly Information by Type of Loan
| Precomputed Contracts | ||||||
| Scheduled Principal Collections | $ | 1,838,032.51 | ||||
| Prepayments in Full | 231 | contracts | $ | 803,217.15 | ||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Payments Behind/Ahead on Repurchased Receivables | $ | 0.00 | ||||
| Total Collections | $ | 3,038,072.71 | ||||
| Advances—Reimbursement of Previous Advances | $ | 70,974.21 | ||||
| Advances—Current Advance Amount | $ | 0.00 | ||||
| Payahead Account—Payments Applied | $ | 0.00 | ||||
| Payahead Account—Additional Payaheads | $ | 31,309.94 | ||||
Simple Interest Contracts | ||||||
| Collected Principal | $ | 27,986,384.52 | ||||
| Prepayments in Full | 2100 | contracts | $ | 20,674,224.22 | ||
| Collected Interest | $ | 8,997,630.88 | ||||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Repurchased Receivables Interest | $ | 0.00 | ||||
| Advances—Reimbursement of Previous Advances | $ | 311,537.30 | ||||
| Advances—Current Advance Amount | $ | 0.00 | ||||
Page 4
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Payment Date of February 15, 2002 for the Collection Period of January 1, 2002 through January 31, 2002
| | Class A3 | |||
|---|---|---|---|---|
| | Balance | |||
| 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 | |||
Interest Payments | ||||
| Interest Calculation for Current Interest Period | 636,352.50 | |||
| 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) | 636,352.50 | |||
| Interest Payment to Noteholders (Swap Payments Incoming) | 636,352.50 | |||
Net Swap Payment due to / (received by) Swap Counterparty | (821,719.08 | ) | ||
Principal Payments | ||||
| Principal Payment due to Investors | — | |||
| Ending Notional Balance | 391,000,000.00 | |||
Swap Termination Payment | N/A | |||
Note Rates for March 15, 2002 Payment Date | ||||
| One Month LIBOR | 1.84750 | % | ||
| Spread | 0.07000 | % | ||
| Note Rates: | 1.91750 | % | ||
Number of Days in Interest Period (Days) | 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 |
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