TOYOTA MOTOR CREDIT CORPORATION
SERVICER'S CERTIFICATE -- TOYOTA AUTO RECEIVABLES 2002-B OWNER TRUST
DISTRIBUTION DATE OF NOVEMBER 15, 2002 FOR THE COLLECTION PERIOD OCTOBER 1, 2002
THROUGH OCTOBER 31, 2002
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Class A-1 Class A-2 Class A-3 Class A-4
--------- --------- --------- ---------
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 $1,242,527,856.43 $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
POOL DATA - CURRENT MONTH
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Securities Balance $1,191,526,422.17 $83,526,422.17 $387,000,000.00 $457,000,000.00 $264,000,000.00
Receivables Pool Balance $1,239,528,210.17
Securities Pool Factor 0.76773610 0.18812257 1.00000000 1.00000000 1.00000000
Number of Contracts 89,786
Weighted Average A.P.R. 7.24%
Weighted Average Remaining
Term 46.22 months
Precompute and Simple
Interest Advances $2,108,339.13
Payahead Account Balance $334,996.13
Interest Shortfall $0.00 $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00 $0.00
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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) $41,703,424.78
Beginning Balance $0.00
Total Withdraw $0.00
Amount Available for Deposit to the Reserve Account $3,103,575.94
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Reserve Account Balance Prior to Release $3,103,575.94
Reserve Account Required Amount $0.00
Reserve Account Release to Seller $3,103,575.94
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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
-------- ------
Liquidated Contracts 32
--
Gross Principal Balance of Liquidated Receivables $417,070.24
Net Liquidation Proceeds Received During the Collection Period ($197,759.26)
Recoveries on Previously Liquidated Contracts ($2,341.77)
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Aggregate Credit Losses for the Collection Period | $216,969.21
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Cumulative Credit Losses for all Periods 83 $462,771.46
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Repossessed in Current Period 49
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RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE Annualized Average
FOR EACH COLLECTION PERIOD: Charge-Off Rate
Second Preceding Collection Period 0.04%
First Preceding Collection Period 0.12%
Current Collection Period 0.21%
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CONDITION (I) (CHARGE-OFF RATE)
Three Month Average 0.12%
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 0.79% 708 0.85% $10,559,550.13
61-90 Days Delinquent 0.11% 103 0.12% $1,522,262.17
Over 90 Days Delinquent 0.18% 159 0.18% $2,181,475.18
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Total Delinquencies 970 $14,263,287.48
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Repossessed Vehicle Inventory 94 *
* 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 0.26%
First Preceding Collection Period 0.31%
Current Collection Period 0.29%
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CONDITION (II) (DELINQUENCY PERCENTAGE)
Three Month Average 0.29%
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 NOVEMBER 15, 2002 FOR THE COLLECTION PERIOD OCTOBER 1, 2002
THROUGH OCTOBER 31, 2002 002
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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 $50,584,364.02
Interest Payments Received $8,081,331.48
Net Precomputed Payahead Amount ($23,598.65)
Aggregate Net Liquidation Proceeds Received $200,101.03
Principal on Repurchased Contracts $0.00
Interest on Repurchased Contracts $0.00
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Total Collections $58,842,197.88
Net Simple Interest Advance Amount ($104,249.72)
Net Precomputed Advance Amount ($38,292.89)
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Total Available Amount $58,699,655.27
AMOUNTS DUE
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Servicing Fee $1,075,441.37
Accrued and Unpaid Interest $3,519,203.70
Principal $51,001,434.26
Reserve Account $3,103,575.94
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Total Amount Due $58,699,655.27
ACTUAL DISTRIBUTIONS
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Servicing Fee $1,075,441.37
Interest $3,519,203.70 $221,695.37 $899,775.00 $1,431,933.33 $965,800.00
Principal $51,001,434.26 $51,001,434.26 $0.00 $0.00 $0.00
Reserve Account $3,103,575.94
-------------- -------------- ----------- ------------- -----------
Total Amount Distributed $58,699,655.27 $51,223,129.63 $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 $840,363.69
Prepayments in Full 102 contracts $434,824.16
Repurchased Receivables Principal $0.00
Payments Behind/Ahead on Repurchased Receivables $0.00
Total Collections $1,474,377.48
Advances - Reimbursement of Previous Advances $38,292.89
Advances - Current Advance Amount $0.00
Payahead Account - Payments Applied $0.00
Payahead Account - Additional Payaheads $23,598.65
Simple Interest Contracts
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Collected Principal $29,982,120.64
Prepayments in Full 1780 contracts $19,327,055.53
Collected Interest $7,882,141.85
Repurchased Receivables Principal $0.00
Repurchased Receivables Interest $0.00
Advances - Reimbursement of Previous Advances $104,249.72
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 Burraston
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Angela Burraston
ABS Accounting Manager