TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S CERTIFICATE -- TOYOTA AUTO RECEIVABLES 2002-B OWNER TRUST
DISTRIBUTION DATE OF OCTOBER 15, 2002 FOR THE COLLECTION PERIOD
SEPTEMBER 1, 2002 THROUGH SEPTEMBER 30, 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 15, 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 $1,289,805,869.54 $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
POOL DATA - CURRENT MONTH
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Securities Balance $1,242,527,856.43 $134,527,856.43 $387,000,000.00 $457,000,000.00 $264,000,000.00
Receivables Pool Balance $1,290,529,644.43
Securities Pool Factor 0.80059785 0.30299067 1.00000000 1.00000000 1.00000000
Number of Contracts 91,700
Weighted Average A.P.R. 7.24%
Weighted Average Remaining Term 47.07 months
Precompute and Simple Interest
Advances $2,250,881.74
Payahead Account Balance $311,397.48
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
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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) $43,488,474.98
Beginning Balance $0.00
Total Withdraw $0.00
Amount Available for Deposit to the
Reserve Account $3,192,847.25
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Reserve Account Balance Prior to Release $3,192,847.25
Reserve Account Required Amount $0.00
Reserve Account Release to Seller $3,192,847.25
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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
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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
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Vehicles Amount
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Liquidated Contracts 21
Gross Principal Balance of Liquidated Receivables $221,075.46
Net Liquidation Proceeds Received During the Collection Period ($90,311.69)
Recoveries on Previously Liquidated Contracts ($1,317.97)
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Aggregate Credit Losses for the Collection Period $129,445.80
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Cumulative Credit Losses for all Periods 51 $245,802.25
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Repossessed in Current Period 23
RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE Annualized Average
FOR EACH COLLECTION PERIOD: Charge-Off Rate
Second Preceding Collection Period 0.03%
First Preceding Collection Period 0.04%
Current Collection Period 0.12%
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CONDITION (I) (CHARGE-OFF RATE)
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Three Month Average 0.06%
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 0.74% 683 0.80% $10,276,706.44
61-90 Days Delinquent 0.15% 139 0.16% $2,022,401.12
Over 90 Days Delinquent 0.15% 142 0.16% $2,089,731.16
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Total Delinquencies 964 $14,388,838.72
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Repossessed Vehicle Inventory 74 *
* 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 0.17%
First Preceding Collection Period 0.26%
Current Collection Period 0.31%
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CONDITION (II) (DELINQUENCY PERCENTAGE)
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Three Month Average 0.25%
Delinquency Percentage Indicator ( > 2.25%) CONDITION NOT MET
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Page 1
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate -- Toyota Auto Receivables 2002-B Owner Trust
Distribution Date of October 15, 2002 for the Collection Period September 1,
2002 through September 30, 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 $47,056,937.65
Interest Payments Received $7,984,349.70
Net Precomputed Payahead Amount $15,624.50
Aggregate Net Liquidation Proceeds Received $91,629.66
Principal on Repurchased Contracts $0.00
Interest on Repurchased Contracts $0.00
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Total Collections $55,148,541.51
Net Simple Interest Advance Amount ($14,584.03)
Net Precomputed Advance Amount $29,528.66
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Total Available Amount $55,163,486.14
AMOUNTS DUE
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Servicing Fee $1,114,839.71
Accrued and Unpaid Interest $3,577,786.07
Principal $47,278,013.11
Reserve Account $3,192,847.25
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Total Amount Due $55,163,486.14
ACTUAL DISTRIBUTIONS
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Servicing Fee $1,114,839.71
Interest $3,577,786.07 $280,277.74 $899,775.00 $1,431,933.33 $965,800.00
Principal $47,278,013.11 $47,278,013.11 $0.00 $0.00 $0.00
Reserve Account $3,192,847.25
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Total Amount Distributed $55,163,486.14 $47,558,290.85 $899,775.00 $1,431,933.33 $965,800.00
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MONTHLY INFORMATION BY TYPE OF LOAN
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Precomputed Contracts
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Scheduled Principal Collections $870,740.62
Prepayments in Full 135 contracts $409,772.47
Repurchased Receivables Principal $0.00
Payments Behind/Ahead on Repurchased Receivables $0.00
Total Collections $1,380,913.91
Advances - Reimbursement of Previous Advances $0.00
Advances - Current Advance Amount $29,528.66
Payahead Account - Payments Applied $15,624.50
Payahead Account - Additional Payaheads $0.00
Simple Interest Contracts
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Collected Principal $28,418,672.75
Prepayments in Full 1821 contracts $17,357,751.81
Collected Interest $7,883,948.88
Repurchased Receivables Principal $0.00
Repurchased Receivables Interest $0.00
Advances - Reimbursement of Previous Advances $14,584.03
Advances - Current Advance Amount $0.00
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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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