TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S CERTIFICATE -- TOYOTA AUTO RECEIVABLES 2002-B OWNER TRUST
DISTRIBUTION DATE OF JULY 15, 2002 FOR THE COLLECTION PERIOD JUNE 1, 2002 THROUGH JUNE 30, 2002
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Class A-1 Class A-2
Total Balance Balance
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POOL DATA - ORIGINAL DEAL PARAMETERS
Securities Balance $1,552,000,000.00 $444,000,000.00 $387,000,000.00
Receivables Pool Balance $1,600,001,788.00
Principal Factor 1.00000000 1.00000000 1.00000000
Rate 1.91375% 2.79%
Final Scheduled Payment Date June 16, 2003 December 15, 2004
Number of Contracts 102,386
Weighted Average A.P.R. 7.24%
Weighted Average Remaining Term 51.97 months
Servicing Fee Rate 1.00%
POOL DATA - PRIOR MONTH
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Securities Balance $1,441,069,794.21 $333,069,794.21 $387,000,000.00
Receivables Pool Balance $1,489,071,582.21
Securities Pool Factor 0.92852435 0.75015719 1.00000000
Number of Contracts 99,312
Weighted Average A.P.R. 7.24%
Weighted Average Remaining Term 50.30 months
Precompute and Simple Interest Advances $1,557,753.48
Payahead Account Balance $415,039.26
Interest Shortfall $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00
POOL DATA - CURRENT MONTH
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Securities Balance $1,393,177,011.23 $285,177,011.23 $387,000,000.00
Receivables Pool Balance $1,441,178,799.23
Securities Pool Factor 0.89766560 0.64229057 1.00000000
Number of Contracts 97,802
Weighted Average A.P.R. 7.24%
Weighted Average Remaining Term 49.53 months
Precompute and Simple Interest Advances $2,164,198.87
Payahead Account Balance $309,636.25
Interest Shortfall $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00
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Class A-3 Class A-4
Balance Balance
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POOL DATA - ORIGINAL DEAL PARAMETERS
Securities Balance $457,000,000.00 $264,000,000.00
Receivables Pool Balance
Principal Factor 1.00000000 1.00000000
Rate 3.76% 4.39%
Final Scheduled Payment Date June 15, 2006 May 15, 2009
Number of Contracts
Weighted Average A.P.R.
Weighted Average Remaining Term
Servicing Fee Rate
POOL DATA - PRIOR MONTH
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Securities Balance $457,000,000.00 $264,000,000.00
Receivables Pool Balance
Securities Pool Factor 1.00000000 1.00000000
Number of Contracts
Weighted Average A.P.R.
Weighted Average Remaining Term
Precompute and Simple Interest Advances
Payahead Account Balance
Interest Shortfall $0.00 $0.00
Principal Shortfall $0.00 $0.00
POOL DATA - CURRENT MONTH
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Securities Balance $457,000,000.00 $264,000,000.00
Receivables Pool Balance
Securities Pool Factor 1.00000000 1.00000000
Number of Contracts
Weighted Average A.P.R.
Weighted Average Remaining Term
Precompute and Simple Interest Advances
Payahead Account Balance
Interest Shortfall $0.00 $0.00
Principal Shortfall $0.00 $0.00
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RESERVE ACCOUNT
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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) 3.50%
Specified Reserve Account Amount (IF CONDITION I OR II MET) $48,761,195.39
Beginning Balance $0.00
Total Withdraw $0.00
Amount Available for Deposit to the Reserve Account $4,013,260.49
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Reserve Account Balance Prior to Release $4,013,260.49
Reserve Account Required Amount $0.00
Reserve Account Release to Seller $4,013,260.49
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Ending Reserve Account Balance $0.00
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REVOLVING LIQUIDITY NOTE
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Total Amount Available $8,000,009.00
Beginning of Period Balance $0.00
Draws $0.00
Reimbursements $0.00
---------------
End of Period Balance $0.00
Current Period Undrawn Amount $8,000,009.00
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LIQUIDATION OF CHARGE-OFFS AND REPOSSESSIONS
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Vehicles Amount
-------- ------
Liquidated Contracts 7
Gross Principal Balance of Liquidated Receivables $74,248.97
Net Liquidation Proceeds Received During the Collection Period ($46,981.73)
Recoveries on Previously Liquidated Contracts $0.00
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Aggregate Credit Losses for the Collection Period $27,267.24
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Cumulative Credit Losses for all Periods 11 $42,864.28
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Repossessed in Current Period 15
--
RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE Annualized Average
FOR EACH COLLECTION PERIOD: Charge-Off Rate
Second Preceding Collection Period 0.00%
First Preceding Collection Period 0.01%
Current Collection Period 0.02%
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CONDITION (I) (CHARGE-OFF RATE)
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Three Month Average 0.01%
Charge-off Rate Indicator ( > 2.25%) CONDITION NOT MET
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DELINQUENT AND REPOSSESSED CONTRACTS
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Percent Contracts Percent Amount
------- --------- ------- ------
31-60 Days Delinquent 0.52% 511 0.55% $7,990,316.88
61-90 Days Delinquent 0.08% 81 0.09% $1,305,407.44
Over 90 Days Delinquent 0.04% 44 0.04% $629,313.07
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Total Delinquencies 636 $9,925,037.39
========= ================
Repossessed Vehicle Inventory 32 *
* 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 0.07%
Current Collection Period 0.13%
CONDITION (II) (DELINQUENCY PERCENTAGE)
- ---------
Three Month Average 0.07%
Delinquency Percentage Indicator ( > 2.25%) CONDITION NOT MET
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TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S CERTIFICATE -- TOYOTA AUTO RECEIVABLES 2002-B OWNER TRUST
DISTRIBUTION DATE OF JULY 15, 2002 FOR THE COLLECTION PERIOD JUNE 1, 2002 THROUGH JUNE 30, 2002
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Class A-1 Class A-2
Total Balance Balance
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COLLECTIONS
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Principal Payments Received $47,818,534.01
Interest Payments Received $8,362,845.79
Net Precomputed Payahead Amount $105,403.01
Aggregate Net Liquidation Proceeds Received $46,981.73
Principal on Repurchased Contracts $0.00
Interest on Repurchased Contracts $0.00
Total Collections $56,333,764.54
Net Simple Interest Advance Amount $550,833.33
Net Precomputed Advance Amount $55,612.06
Total Available Amount $56,940,209.93
AMOUNTS DUE
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Servicing Fee $1,240,892.99
Accrued and Unpaid Interest $3,793,273.47
Principal $47,892,782.98
Reserve Fund $4,013,260.49
Total Amount Due $56,940,209.93
ACTUAL DISTRIBUTIONS
- --------------------
Servicing Fee $1,240,892.99
Interest $3,793,273.47 $495,765.14 $899,775.00
Principal $47,892,782.98 $47,892,782.98 $0.00
Reserve Fund $4,013,260.49
---------------- --------------- ------------
Total Amount Distributed $56,940,209.93 $48,388,548.12 $899,775.00
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Class A-3 Class A-4
Balance Balance
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COLLECTIONS
- -----------
Principal Payments Received
Interest Payments Received
Net Precomputed Payahead Amount
Aggregate Net Liquidation Proceeds Received
Principal on Repurchased Contracts
Interest on Repurchased Contracts
Total Collections
Net Simple Interest Advance Amount
Net Precomputed Advance Amount
Total Available Amount
AMOUNTS DUE
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Servicing Fee
Accrued and Unpaid Interest
Principal
Reserve Fund
Total Amount Due
ACTUAL DISTRIBUTIONS
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Servicing Fee
Interest $1,431,933.33 $965,800.00
Principal $0.00 $0.00
Reserve Fund
--------------- ----------------
Total Amount Distributed $1,431,933.33 $965,800.00
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MONTHLY INFORMATION BY TYPE OF LOAN
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Precomputed Contracts
- ---------------------
Scheduled Principal Collections $989,953.72
Prepayments in Full 77 contracts $655,589.42
Repurchased Receivables Principal $0.00
Payments Behind/Ahead on Repurchased Receivables $0.00
Total Collections $1,659,367.71
Advances - Reimbursement of Previous Advances $0.00
Advances - Current Advance Amount $55,612.06
Payahead Account - Payments Applied $105,403.01
Payahead Account - Additional Payaheads $0.00
Simple Interest Contracts
- -------------------------
Collected Principal $28,758,361.77
Prepayments in Full 1426 contracts $17,414,629.10
Collected Interest $8,349,021.22
Repurchased Receivables Principal $0.00
Repurchased Receivables Interest $0.00
Advances - Reimbursement of Previous Advances $0.00
Advances - Current Advance Amount $550,833.33
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I hereby certify to the best of my knowledge that
the report provided is true and correct.
/s/ Angela Brown
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Angela Brown
ABS Accounting Manager
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