EXHIBIT 20
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of March 15, 2002 for the Collection Period February 1, 2002 through February 28, 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 | $ | 1,455,000,000.00 | $ | 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 | $ | 1,133,707,910.56 | $ | 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 | ||||||
Pool Data—Current Month | ||||||||||||||||
| Securities Balance | $ | 1,086,896,866.78 | $ | 14,396,866.78 | $ | 462,000,000.00 | $ | 391,000,000.00 | $ | 219,500,000.00 | ||||||
| Receivables Pool Balance | $ | 1,131,896,867.78 | ||||||||||||||
| Securities Pool Factor | 0.74700816 | 0.03763887 | 1.00000000 | 1.00000000 | 1.00000000 | |||||||||||
| Number of Contracts | 89,623 | |||||||||||||||
| Weighted Average A.P.R. | 8.59% | |||||||||||||||
| Weighted Average Remaining Term | 45.19 | months | ||||||||||||||
| Precompute and Simple Interest Advances | $ | 2,711,221.57 | ||||||||||||||
| Payahead Account Balance | $ | 731,177.32 | ||||||||||||||
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 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) | $ | 59,779,327.67 | |||
Beginning Balance | $ | 0.00 | |||
| Total Withdraw | $ | 0.00 | |||
| Amount Available for Deposit to the Reserve Account | $ | 2,749,642.13 | |||
| Reserve Account Balance Prior to Release | $ | 2,749,642.13 | |||
| Reserve Account Required Amount | $ | 0.00 | |||
| Reserve Account Release to Seller | $ | 2,749,642.13 | |||
| 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 | ||
Liquidation of Charge-offs and Repossessions
| | Vehicles | Amount | |||||
|---|---|---|---|---|---|---|---|
| Liquidated Contracts | 59 | ||||||
| Gross Principal Balance of Liquidated Receivables | $ | 788,044.64 | |||||
| Net Liquidation Proceeds Received During the Collection Period | $ | (481,961.75 | ) | ||||
| Recoveries on Previously Liquidated Contracts | $ | (6,216.01 | ) | ||||
| Aggregate Credit Losses for the Collection Period | $ | 299,866.88 | |||||
| Cumulative Credit Losses for all Periods | 170 | $ | 763,750.30 | ||||
| Repossessed in Current Period | 36 | ||||||
Page 2
| | Annualized Average Charge-Off Rate | ||
|---|---|---|---|
| Ratio of Net Credit Losses to the Average Pool Balance for Each Collection Period: | |||
| Second Preceding Collection Period | 0.15% | ||
| First Preceding Collection Period | 0.19% | ||
| Current Collection Period | 0.31% | ||
Condition (i) (Charge-off Rate) | |||
| Three Month Average | 0.22% | ||
| Charge-off Rate Indicator (> 1.25%) | condition not met | ||
Delinquent and Repossessed Contracts
| | Percent | Contracts | Percent | Amount | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 31-60 Days Delinquent | 0.90 | % | 805 | 0.88 | % | $ | 10,013,467.19 | ||||
| 61-90 Days Delinquent | 0.17 | % | 154 | 0.17 | % | $ | 1,934,798.75 | ||||
| Over 90 Days Delinquent | 0.20 | % | 176 | 0.22 | % | $ | 2,454,804.91 | ||||
| Total Delinquencies | 1,135 | $ | 14,403,070.85 | ||||||||
| Repossessed Vehicle Inventory | 95* | ||||||||||
| * 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 | 0.32 | % | |||||||||
| First Preceding Collection Period | 0.39 | % | |||||||||
| Current Collection Period | 0.37 | % | |||||||||
Condition (ii) (Delinquency Percentage) | |||||||||||
| Three Month Average | 0.36 | % | |||||||||
| Delinquency Percentage Indicator (> 1.25%) | condition not met | ||||||||||
Page 3
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of March 15, 2002 for the Collection Period February 1, 2002 through February 28, 2002
| | Total | Class A-1 Balance | Class A-2 Balance | Class A-3 Balance | Class A-4 Balance | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Collections | ||||||||||||||||
| Principal Payments Received | $ | 46,022,999.14 | ||||||||||||||
| Interest Payments Received | $ | 7,780,405.07 | ||||||||||||||
| Net Precomputed Payahead Amount | $ | 77,354.84 | ||||||||||||||
| Aggregate Net Liquidation Proceeds Received | $ | 488,177.76 | ||||||||||||||
| Principal on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Interest on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Total Collections | $ | 54,368,936.81 | ||||||||||||||
| Net Simple Interest Advance Amount | $ | 8,035.80 | ||||||||||||||
| Net Precomputed Advance Amount | $ | 104,051.49 | ||||||||||||||
| Total Available Amount | $ | 54,481,024.10 | ||||||||||||||
Amounts Due | ||||||||||||||||
| Servicing Fee | $ | 982,256.59 | ||||||||||||||
| Accrued and Unpaid Interest | $ | 3,938,081.60 | ||||||||||||||
| Principal | $ | 46,811,043.78 | ||||||||||||||
| Reserve Fund | $ | 2,749,642.13 | ||||||||||||||
| Total Amount Due | $ | 54,481,024.10 | ||||||||||||||
Actual Distributions | ||||||||||||||||
| Servicing Fee | $ | 982,256.59 | ||||||||||||||
| Interest | $ | 3,938,081.60 | $ | 165,193.35 | $ | 1,451,450.00 | $ | 1,458,071.58 | $ | 863,366.67 | ||||||
| Principal | $ | 46,811,043.78 | $ | 46,811,043.78 | $ | 0.00 | $ | 0.00 | $ | 0.00 | ||||||
| Reserve Fund | $ | 2,749,642.13 | ||||||||||||||
| Total Amount Distributed | $ | 54,481,024.10 | $ | 46,976,237.13 | $ | 1,451,450.00 | $ | 1,458,071.58 | $ | 863,366.67 | ||||||
Page 4
Monthly Information by Type of Loan
| Precomputed Contracts | ||||||
| Scheduled Principal Collections | $ | 1,762,178.70 | ||||
| Prepayments in Full | 249 contracts | $ | 815,846.72 | |||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Payments Behind/Ahead on Repurchased Receivables | $ | 0.00 | ||||
| Total Collections | $ | 2,671,421.93 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 104,051.49 | ||||
| Payahead Account—Payments Applied | $ | 77,354.84 | ||||
| Payahead Account—Additional Payaheads | $ | 0.00 | ||||
Simple Interest Contracts | ||||||
| Collected Principal | $ | 25,371,379.00 | ||||
| Prepayments in Full | 1842 contracts | $ | 18,073,594.72 | |||
| Collected Interest | $ | 7,687,008.56 | ||||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Repurchased Receivables Interest | $ | 0.00 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 8,035.80 | ||||
Page 5
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Payment Date of March 15, 2002 for the Collection Period of February 1 through February 28, 2002
| | �� | | Class A3 Balance | |||
|---|---|---|---|---|---|---|
| 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 | |||||
Interest Payments | ||||||
| Interest Calculation for Current Interest Period At Certificate Payment Date: | 583,133.06 | |||||
| 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) | 583,133.06 | |||||
| Interest Payment to Noteholders (Swap Payments Incoming) | 583,133.06 | |||||
Net Swap Payment due to / (received by) Swap Counterparty | (874,938.52 | ) | ||||
Principal Payments | ||||||
| Principal Payment due to Investors | — | |||||
| Ending Notional Balance | 391,000,000.00 | |||||
Swap Termination Payment | N/A | |||||
Note Rates for April 15, 2002 Payment Date | ||||||
| One Month LIBOR | 1.90000 | % | ||||
| Spread | 0.07000 | % | ||||
| Note Rates: | 1.97000 | % | ||||
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 |
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