TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of March 15, 2002 for the Collection Period
February 1, 2002 through February 28, 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 | $ | 1,452,840,000.00 | $ | 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 | $ | 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 | |||||||
Pool Data—Current Month | |||||||||||||||||
| Securities Balance | $ | 856,440,482.80 | $ | 0.00 | $ | 321,440,482.80 | $ | 360,000,000.00 | $ | 175,000,000.00 | |||||||
| Receivables Pool Balance | $ | 901,383,526.80 | |||||||||||||||
| Securities Pool Factor | 0.58949401 | 0.00000000 | 0.64288097 | 1.00000000 | 1.00000000 | ||||||||||||
| Number of Contracts | 90,300 | ||||||||||||||||
| Weighted Average Coupon | 9.273 | % | |||||||||||||||
| Weighted Average Remaining Term | 37.60 | months | |||||||||||||||
| Precompute and Simple Interest Advances | $ | 3,667,046.88 | |||||||||||||||
| Payahead Account Balance | $ | 1,444,151.99 | |||||||||||||||
| 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 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) | $ | 47,104,226.55 | |||
Beginning Balance | $ | 7,488,915.22 | |||
| Total Withdraw | $ | 0.00 | |||
| Amount Available for Deposit to the Reserve Fund | $ | 1,939,399.48 | |||
| Reserve Fund Balance Prior to Release | $ | 9,428,314.70 | |||
| Reserve Fund Required Amount | $ | 7,488,915.22 | |||
| Reserve Fund Release to Seller | $ | 1,939,399.48 | |||
| Ending Reserve Fund Balance | $ | 7,488,915.22 | |||
Page 1
Liquidation of Charge-offs and Repossessions
| | Vehicles | Amount | |||||
|---|---|---|---|---|---|---|---|
| Liquidated Contracts | 107 | ||||||
| Gross Principal Balance of Liquidated Receivables | $ | 984,571.54 | |||||
| Net Liquidation Proceeds Received During the Collection Period | $ | (548,206.52 | ) | ||||
| Recoveries on Previously Liquidated Contracts | $ | (22,135.50 | ) | ||||
| Aggregate Credit Losses for the Collection Period | $ | 414,229.52 | |||||
| Cumulative Credit Losses for all Periods | 630 | $ | 2,857,747.62 | ||||
| Repossessed in Current Period | 75 | ||||||
| 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 | 0.49% | ||
| Current Collection Period | 0.54% | ||
Condition (i)(Charge-off Rate) | |||
| Three Month Average | 0.47% | ||
| Charge-off Rate Indicator (> 1.25%) | condition not met | ||
Delinquent and Repossessed Contracts
| | Percent | Contracts | Percent | Amount | |||||
|---|---|---|---|---|---|---|---|---|---|
| 31-60 Days Delinquent | 1.68 | % | 1,520 | 1.76 | % | $ | 15,854,861.21 | ||
| 61-90 Days Delinquent | 0.35 | % | 312 | 0.38 | % | $ | 3,469,140.76 | ||
| Over 90 Days Delinquent | 0.41 | % | 373 | 0.52 | % | $ | 4,647,345.24 | ||
| Total Delinquencies | 2,205 | $ | 23,971,347.21 | ||||||
| Repossessed Vehicle Inventory | 192* | ||||||||
| 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 | 0.67% | ||
| First Preceding Collection Period | 0.77% | ||
| Current Collection Period | 0.76% | ||
Condition (ii)(Delinquency Percentage) | |||
| Three Month Average | 0.73% | ||
| Delinquency Percentage Indicator (> 1.25%) | condition not met | ||
Page 2
TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S Report—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of March 15, 2002 for the Collection Period
February 1, 2002 through February 28, 2002
| | | Class A-1 | Class A-2 | Class A-3 | Class A-4 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Total | Balance | Balance | Balance | Balance | |||||||||||
| Collections | ||||||||||||||||
| Principal Payments Received | $ | 44,346,418.81 | ||||||||||||||
| Interest Payments Received | $ | 6,605,607.55 | ||||||||||||||
| Net Precomputed Payahead Amount | $ | 84,509.14 | ||||||||||||||
| Aggregate Net Liquidation Proceeds Received | $ | 570,342.02 | ||||||||||||||
| Principal on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Interest on Repurchased Contracts | $ | 0.00 | ||||||||||||||
| Total Collections | $ | 51,606,877.52 | ||||||||||||||
| Net Simple Interest Advance Amount | $ | (64,764.22 | ) | |||||||||||||
| Net Precomputed Advance Amount | $ | 198,614.84 | ||||||||||||||
| Total Available Amount | $ | 51,740,728.14 | ||||||||||||||
Amounts Due | ||||||||||||||||
| Servicing Fee | $ | 788,928.76 | ||||||||||||||
| Accrued and Unpaid Interest | $ | 3,681,409.55 | ||||||||||||||
| Principal | $ | 45,330,990.35 | ||||||||||||||
| Reserve Fund | $ | 1,939,399.48 | ||||||||||||||
| Total Amount Due | $ | 51,740,728.14 | ||||||||||||||
Actual Distributions | ||||||||||||||||
| Servicing Fee | $ | 788,928.76 | ||||||||||||||
| Interest | $ | 3,681,409.55 | $ | 0.00 | $ | 1,394,342.88 | $ | 1,505,400.00 | $ | 781,666.67 | ||||||
| Principal | $ | 45,330,990.35 | $ | 0.00 | $ | 45,330,990.35 | $ | 0.00 | $ | 0.00 | ||||||
| Reserve Fund | $ | 1,939,399.48 | ||||||||||||||
| Total Amount Distributed | $ | 51,740,728.14 | $ | 0.00 | $ | 46,725,333.23 | $ | 1,505,400.00 | $ | 781,666.67 | ||||||
| Monthly Information by Type of Loan | ||||||
Precomputed Contracts | ||||||
| Scheduled Principal Collections | $ | 4,386,227.26 | ||||
| Prepayments in Full | 604 contracts | $ | 2,156,799.68 | |||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Payments Behind/Ahead on Repurchased Receivables | $ | 0.00 | ||||
| Total Collections | $ | 7,070,267.73 | ||||
| Advances—Reimbursement of Previous Advances | $ | 0.00 | ||||
| Advances—Current Advance Amount | $ | 198,614.84 | ||||
| Payahead Account—Payments Applied | $ | 84,509.14 | ||||
| Payahead Account—Additional Payaheads | $ | 0.00 | ||||
Simple Interest Contracts | ||||||
| Collected Principal | $ | 22,834,508.11 | ||||
| Prepayments in Full | 2055 contracts | $ | 14,968,883.76 | |||
| Collected Interest | $ | 6,078,366.76 | ||||
| Repurchased Receivables Principal | $ | 0.00 | ||||
| Repurchased Receivables Interest | $ | 0.00 | ||||
| Advances—Reimbursement of Previous Advances | $ | 64,764.22 | ||||
| Advances—Current Advance Amount | $ | 0.00 | ||||
Page 3
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-B Owner Trust
Distribution Date of March 15, 2002 for the Collection Period of
February 1 through February 28, 2002
| | Class A2 | Class A3 | Class A4 | |||||
|---|---|---|---|---|---|---|---|---|
| | Balance | Balance | Balance | |||||
| 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 | |||||
Interest Payments | ||||||||
| Interest Calculation for Current Interest Period | 544,146.23 | 539,700.00 | 265,076.39 | |||||
| At Certificate Payment Date: | ||||||||
| Due to Swap Counterparty (Swap Payments Outgoing) | 1,394,342.88 | 1,505,400.00 | 781,666.67 | |||||
| Paid to Swap Counterparty (Swap Payments Outgoing) | 1,394,342.88 | 1,505,400.00 | 781,666.67 | |||||
| Proration % 0.00% | ||||||||
| Interest Due to Noteholders (Swap Payments Incoming) | 544,146.23 | 539,700.00 | 265,076.39 | |||||
| Interest Payment to Noteholders (Swap Payments Incoming) | 544,146.23 | 539,700.00 | 265,076.39 | |||||
Net Swap Payment due to / (received by) Swap Counterparty | (850,196.65 | ) | (965,700.00 | ) | (516,590.28 | ) | ||
| Principal Payments | ||||||||
| Beginning Notional Balance | 366,771,473.15 | 360,000,000.00 | 175,000,000.00 | |||||
| Principal Payment due to Investors | 45,330,990.35 | — | — | |||||
| Ending Notional Balance | 321,440,482.80 | 360,000,000.00 | 175,000,000.00 | |||||
| Swap Termination Payment | N/A | N/A | N/A | |||||
| Note Rates for April 15, 2002 Payment Date | ||||||||
| One Month LIBOR | 1.90000 | % | 1.90000 | % | 1.90000 | % | ||
| Spread | 0.06000 | % | 0.08000 | % | 0.10000 | % | ||
| Note Rates: | 1.96000 | % | 1.98000 | % | 2.00000 | % | ||
Number of Days in Interest Period (Days) | 31 | 31 | 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 4
