TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate -- Toyota Auto Receivables 2002-B Owner Trust
Distribution Date of September 16, 2002 for the Collection Period
August 1, 2002 through August 31, 2002
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Class A-1 Class A-2 Class A-3 Class A-4
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Total Balance Balance Balance Balance
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POOL DATA - ORIGINAL DEAL PARAMETERS
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Securities Balance $1,552,000,000.00 $444,000,000.00 $387,000,000.00 $457,000,000.00 $264,000,000.00
Receivables Pool Balance $1,600,001,788.00
Principal Factor 1.00000000 1.00000000 1.00000000 1.00000000 1.00000000
Rate 1.91375% 2.79% 3.76% 4.39%
Final Scheduled Payment Date June 16, 2003 December 15, 2004 June 16, 2006 May 15, 2009
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 $1,340,001,102.27 $232,001,102.27 $387,000,000.00 $457,000,000.00 $264,000,000.00
Receivables Pool Balance $1,388,002,890.27
Securities Pool Factor 0.86340277 0.52252501 1.00000000 1.00000000 1.00000000
Number of Contracts 95,765
Weighted Average A.P.R. 7.24%
Weighted Average Remaining Term 48.66 months
Precompute and Simple Interest Advances $1,940,903.23
Payahead Account Balance $360,760.28
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
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Securities Balance $1,289,805,869.54 $181,805,869.54 $387,000,000.00 $457,000,000.00 $264,000,000.00
Receivables Pool Balance $1,337,807,657.54
Securities Pool Factor 0.83106048 0.40947268 1.00000000 1.00000000 1.00000000
Number of Contracts 93,677
Weighted Average A.P.R. 7.24%
Weighted Average Remaining Term 47.86 months
Precompute and Simple Interest Advances $2,235,937.11
Payahead Account Balance $327,021.98
Interest Shortfall $0.00 $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00 $0.00
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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) 3.50%
Specified Reserve Account Amount (IF CONDITION I OR II MET) $45,143,205.43
Beginning Balance $0.00
Total Withdraw $0.00
Amount Available for Deposit to the Reserve Account $3,675,046.63
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Reserve Account Balance Prior to Release $3,675,046.63
Reserve Account Required Amount $0.00
Reserve Account Release to Seller $3,675,046.63
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Ending Reserve Account Balance $0.00
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REVOLVING LIQUIDITY NOTE
Total Amount Available $8,000,009.00
Beginning of Period Balance $0.00
Draws $0.00
Reimbursements $0.00
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End of Period Balance $0.00
Current Period Undrawn Amount $8,000,009.00
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LIQUIDATION OF CHARGE-OFFS AND REPOSSESSIONS
Vehicles Amount
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Liquidated Contracts 10
Gross Principal Balance of Liquidated Receivables $103,379.82
Net Liquidation Proceeds Received During the Collection Period ($60,171.25)
Recoveries on Previously Liquidated Contracts ($1,143.56)
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Aggregate Credit Losses for the Collection Period $42,065.01
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Cumulative Credit Losses for all Periods 30 $116,356.45
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Repossessed in Current Period 35
RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE Annualized Average
FOR EACH COLLECTION PERIOD: Charge-Off Rate
Second Preceding Collection Period 0.02%
First Preceding Collection Period 0.03%
Current Collection Period 0.04%
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CONDITION (I) (CHARGE-OFF RATE)
Three Month Average 0.03%
Charge-off Rate Indicator (> 2.25%) CONDITION NOT MET
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DELINQUENT AND REPOSSESSED CONTRACTS
Percent Contracts Percent Amount
31-60 Days Delinquent 0.69% 651 0.74% $9,953,630.09
61-90 Days Delinquent 0.14% 131 0.14% $1,922,321.13
Over 90 Days Delinquent 0.12% 114 0.13% $1,696,345.38
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Total Delinquencies 896 $13,572,296.60
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Repossessed Vehicle Inventory 69 *
* 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 0.13%
First Preceding Collection Period 0.17%
Current Collection Period 0.26%
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CONDITION (II) (DELINQUENCY PERCENTAGE)
Three Month Average 0.19%
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 SEPTEMBER 16, 2002 FOR THE COLLECTION PERIOD
AUGUST 1, 2002 THROUGH AUGUST 31, 2002
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Class A-1 Class A-2 Class A-3 Class A-4
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Total Balance Balance Balance Balance
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COLLECTIONS
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Principal Payments Received $50,091,852.91
Interest Payments Received $8,237,176.52
Net Precomputed Payahead Amount $33,738.30
Aggregate Net Liquidation Proceeds Received $61,314.81
Principal on Repurchased Contracts $0.00
Interest on Repurchased Contracts $0.00
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Total Collections $58,424,082.54
Net Simple Interest Advance Amount $281,835.42
Net Precomputed Advance Amount $13,198.46
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Total Available Amount $58,719,116.42
AMOUNTS DUE
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Servicing Fee $1,156,669.08
Accrued and Unpaid Interest $3,692,167.98
Principal $50,195,232.73
Reserve Account $3,675,046.63
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Total Amount Due $58,719,116.42
ACTUAL DISTRIBUTIONS
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Servicing Fee $1,156,669.08
Interest $3,692,167.98 $394,659.65 $899,775.00 $1,431,933.33 $965,800.00
Principal $50,195,232.73 $50,195,232.73 $0.00 $0.00 $0.00
Reserve Account $3,675,046.63
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Total Amount Distributed $58,719,116.42 $50,589,892.38 $899,775.00 $1,431,933.33 $965,800.00
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MONTHLY INFORMATION BY TYPE OF LOAN
Precomputed Contracts
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Scheduled Principal Collections $915,541.78
Prepayments in Full 157 contracts $522,416.25
Repurchased Receivables Principal $0.00
Payments Behind/Ahead on Repurchased Receivables $0.00
Total Collections $1,545,405.30
Advances - Reimbursement of Previous Advances $0.00
Advances - Current Advance Amount $13,198.46
Payahead Account - Payments Applied $33,738.30
Payahead Account - Additional Payaheads $0.00
Simple Interest Contracts
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Collected Principal $29,321,630.84
Prepayments in Full 1,921 contracts $19,332,264.04
Collected Interest $8,129,729.25
Repurchased Receivables Principal $0.00
Repurchased Receivables Interest $0.00
Advances - Reimbursement of Previous Advances $0.00
Advances - Current Advance Amount $281,835.42
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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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