TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2002-A Owner Trust
Distribution Date of February 15, 2002 for the Collection Period of December 1, 2001 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 | $ | 1,510,602,000.00 | $ | 459,670,000.00 | $ | 387,000,000.00 | $ | 429,000,000.00 | $ | 234,932,000.00 | |||||||
| Receivables Pool Balance | $ | 1,557,322,188.00 | |||||||||||||||
| Principal Factor | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Rate | 1.69375 | % | 2.392 | % | 3.4440 | % | 4.000 | % | |||||||||
| Final Scheduled Payment Date | January 15, 2003 | July 15, 2004 | January 16, 2006 | July 15, 2008 | |||||||||||||
| Number of Contracts | 106,057 | ||||||||||||||||
| Weighted Average A.P.R. | 7.24 | % | |||||||||||||||
| Weighted Average Remaining Term | 49.86 | months | |||||||||||||||
| Servicing Fee Rate | 1.00 | % | |||||||||||||||
| Pool Data—Prior Month | |||||||||||||||||
| Securities Balance | $ | 1,510,602,000.00 | $ | 459,670,000.00 | $ | 387,000,000.00 | $ | 429,000,000.00 | $ | 234,932,000.00 | |||||||
| Receivables Pool Balance | $ | 1,557,322,188.00 | |||||||||||||||
| Securities Pool Factor | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 106,057 | ||||||||||||||||
| Weighted Average A.P.R. | 7.24 | % | |||||||||||||||
| Weighted Average Remaining Term | 49.86 | months | |||||||||||||||
| Precompute and Simple Interest Advances | $ | 340,584.92 | |||||||||||||||
| Payahead Account Balance | $ | 514,638.08 | |||||||||||||||
| 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 | $ | 1,399,794,110.28 | $ | 348,862,110.28 | $ | 387,000,000.00 | $ | 429,000,000.00 | $ | 234,932,000.00 | |||||||
| Receivables Pool Balance | $ | 1,446,514,298.28 | |||||||||||||||
| Securities Pool Factor | 0.92664654 | 0.75894035 | 1.00000000 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 102,828 | ||||||||||||||||
| Weighted Average A.P.R. | 7.24 | % | |||||||||||||||
| Weighted Average Remaining Term | 48.26 | months | |||||||||||||||
| Precompute and Simple Interest Advances | $ | 1,841,732.71 | |||||||||||||||
| Payahead Account Balance | $ | 619,002.25 | |||||||||||||||
| 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) | $ | 76,988,676.07 | |||||||||||||||
Beginning Balance | $ | 0.00 | |||||||||||||||
| Total Withdraw | $ | 0.00 | |||||||||||||||
| Amount Available for Deposit to the Reserve Account | $ | 15,935,919.85 | |||||||||||||||
| Reserve Account Balance Prior to Release | $ | 15,935,919.85 | |||||||||||||||
| Reserve Account Required Amount | $ | 0.00 | |||||||||||||||
| Reserve Account Release to Seller | $ | 15,935,919.85 | |||||||||||||||
| Ending Reserve Account Balance | $ | 0.00 | |||||||||||||||
| Revolving Liquidity Note | |||||||||||||||||
| Total Amount Available | $ | 7,786,611.00 | |||||||||||||||
| Beginning of Period Balance | $ | 0.00 | |||||||||||||||
| Draws | $ | 0.00 | |||||||||||||||
| Reimbursements | $ | 0.00 | |||||||||||||||
| End of Period Balance | $ | 0.00 | |||||||||||||||
| Current Period Undrawn Amount | $ | 7,786,611.00 | |||||||||||||||
Liquidation of Charge-offs and Repossessions
| | | | |||||
|---|---|---|---|---|---|---|---|
| Vehicles | Amount | ||||||
| Liquidated Contracts | 2 | ||||||
| Gross Principal Balance of Liquidated Receivables | $ | 34,186.86 | |||||
| Net Liquidation Proceeds Received During the Collection Period | $ | (20,407.98) | |||||
| Recoveries on Previously Liquidated Contracts | $ | 0.00 | |||||
| Aggregate Credit Losses for the Collection Period | $ | 13,778.88 | |||||
| Cumulative Credit Losses for all Periods | 2 | $ | 13,778.88 | ||||
| Repossessed in Current Period | 30 | ||||||
| Ratio of Net Credit Losses to the Average Pool Balance for Each Collection Period: | Annualized Average Charge-Off Rate | ||||||
| Second Preceding Collection Period | 0.00 | % | |||||
| First Preceding Collection Period | 0.00 | % | |||||
| Current Collection Period | 0.01 | % | |||||
| Condition (i) (Charge-off Rate) | |||||||
| Three Month Average | 0.00 | % | |||||
| Charge-off Rate Indicator (> 2.50%) | condition not met | ||||||
Page 1
Delinquent and Repossessed Contracts
| | Percent | Contracts | Percent | Amount | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 31-60 Days Delinquent | 0.77 | % | 791 | 0.70 | % | $ | 10,082,158.40 | ||||
| 61-90 Days Delinquent | 0.16 | % | 163 | 0.16 | % | $ | 2,260,709.95 | ||||
| Over 90 Days Delinquent | 0.00 | % | 5 | 0.00 | % | $ | 54,878.05 | ||||
| Total Delinquencies | 959 | $ | 12,397,746.40 | ||||||||
| Repossessed Vehicle Inventory | 36* | ||||||||||
| * 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 | 0.00 | % | |||||||||
| First Preceding Collection Period | 0.01 | % | |||||||||
| Current Collection Period | 0.16 | % | |||||||||
| Condition (ii) (Delinquency Percentage) | |||||||||||
| Three Month Average | 0.06 | % | |||||||||
| Delinquency Percentage Indicator (> 2.50%) | condition not met | ||||||||||
Page 2
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2002-A Owner Trust
Distribution Date of February 15, 2002 for the Collection Period of December 1, 2001 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 | $ | 110,639,172.51 | ||||||||||||||
| Interest Payments Received | $ | 19,089,869.77 | ||||||||||||||
| Net Precomputed Payahead Amount | ($ | 104,364.17 | ) | |||||||||||||
| Aggregate Net Liquidation Proceeds Received | $ | 20,407.98 | ||||||||||||||
| Principal on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Interest on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Total Collections | $ | 129,645,086.09 | ||||||||||||||
| Net Simple Interest Advance Amount | $ | 1,462,599.73 | ||||||||||||||
| Net Precomputed Advance Amount | $ | 38,548.06 | ||||||||||||||
| Total Available Amount | $ | 131,146,233.88 | ||||||||||||||
Amounts Due | ||||||||||||||||
| Servicing Fee | $ | 2,549,031.22 | ||||||||||||||
| Accrued and Unpaid Interest | $ | 1,853,393.09 | ||||||||||||||
| Principal | $ | 110,807,889.72 | ||||||||||||||
| Reserve Fund | $ | 15,935,919.85 | ||||||||||||||
| Total Amount Due | $ | 131,146,233.88 | ||||||||||||||
Actual Distributions | ||||||||||||||||
| Servicing Fee | $ | 2,549,031.22 | ||||||||||||||
| Interest | $ | 1,853,393.09 | $ | 367,656.20 | $ | 411,424.00 | $ | 656,656.00 | $ | 417,656.89 | ||||||
| Principal | $ | 110,807,889.72 | $ | 110,807,889.72 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
| Reserve Fund | $ | 15,935,919.85 | ||||||||||||||
| Total Amount Distributed | $ | 131,146,233.88 | $ | 111,175,545.92 | $ | 411,424.00 | $ | 656,656.00 | $ | 417,656.89 | ||||||
| | | | ||||
|---|---|---|---|---|---|---|
| Monthly Information by Type of Loan | ||||||
Precomputed Contracts | ||||||
| Scheduled Principal Collections | $ | 3,464,135.26 | ||||
| Prepayments in Full | 186 contracts | $ | 1,369,532.67 | |||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Payments Behind/Ahead on Repurchased Receivables | $ | 0.00 | ||||
| Total Collections | $ | 5,515,372.73 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 38,548.06 | ||||
| Payahead Account—Payments Applied | $ | 0.00 | ||||
| Payahead Account—Additional Payaheads | $ | 104,364.17 | ||||
Simple Interest Contracts | ||||||
| Collected Principal | $ | 64,842,118.62 | ||||
| Prepayments in Full | 3041 contracts | $ | 40,963,385.96 | |||
| Collected Interest | $ | 18,408,164.97 | ||||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Repurchased Receivables Interest | $ | 0.00 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 1,462,599.73 | ||||
Page 3
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2002-A Owner Trust
Distribution Date of February 15, 2002 for the Collection Period of December 1, 2001 through January 31, 2002
| | Class A2 | Class A3 | ||||
|---|---|---|---|---|---|---|
| | Balance | Balance | ||||
| Note Rates for February 15, 2002 Payment Date | ||||||
| One Month LIBOR | 1.82750% | 1.82750% | ||||
| Spread | 0.05000% | 0.06000% | ||||
| Note Rates: | 1.87750% | 1.88750% | ||||
Number of Days in Interest Period (Days) | 17 | 17 | ||||
Interest Payments | ||||||
| Interest Calculation for Current Interest Period | 343,113.13 | 382,376.04 | ||||
| At Certificate Payment Date: | ||||||
| Due to Swap Counterparty (Swap Payments Outgoing) | 411,424.00 | 656,656.00 | ||||
| Paid to Swap Counterparty (Swap Payments Outgoing) | 411,424.00 | 656,656.00 | ||||
| Proration % 0.00% | ||||||
| Interest Due to Noteholders (Swap Payments Incoming) | 343,113.13 | 382,376.04 | ||||
| Interest Payment to Noteholders (Swap Payments Incoming) | 343,113.13 | 382,376.04 | ||||
Net Swap Payment due to / (received by) Swap Counterparty | (68,310.87 | ) | (274,279.96 | ) | ||
Principal Payments | ||||||
| Principal Payment due to Investors | — | — | ||||
| Ending Notional Balance | 387,000,000.00 | 429,000,000.00 | ||||
Swap Termination Payment | N/A | N/A | ||||
Note Rates for March 15, 2002 Payment Date | ||||||
| One Month LIBOR | 1.84750% | 1.84750% | ||||
| Spread | 0.05000% | 0.06000% | ||||
| Note Rates: | 1.89750% | 1.90750% | ||||
Number of Days in Interest Period (Days) | 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 |
