| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 345.0 | 18.1% | 73.1% | +14 bps | 0.17 | 2025-01-15 | A-1+ | P-1 |
| Class A-2a | 157.5 | 8.3% | 64.8% | +37 bps | 0.97 | 2026-12-15 | AAA | Aaa |
| Class A-2b | 472.5 | 24.8% | 40.1% | +35 bps SOFR | 0.97 | 2026-12-15 | AAA | Aaa |
| Class A-3 | 630.0 | 33.0% | 7.1% | +60 bps | 2.40 | 2028-10-16 | AAA | Aaa |
| Class A-4 | 101.2 | 5.3% | 1.8% | +70 bps | 3.73 | 2029-04-16 | AAA | Aaa |
| Class B | 33.8 | 1.8% | 0.0% | — | — | — | — | — |
| Sponsor | Toyota Motor Credit Corporation |
|---|---|
| Servicer | Underwriting of Motor Vehicle Retail Installment Sales Contracts |
| Depositor / Transferor | Toyota Auto Finance Receivables LLC |
| Indenture Trustee | U.S. Bank National Association |
| Owner Trustee | Wilmington Trust, National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | BofA Securities, BNP Paribas Securities, Credit Agricole Securities, Lloyds Securities |
| TAOT 2024-A | TAOT 2023-D | TAOT 2023-C | TAOT 2023-B | TAOT 2023-A | TAOT 2022-D | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-01-30 | 2023-11-14 | 2023-08-15 | 2023-05-23 | 2023-01-30 | 2022-11-08 |
| Pool balance | $1,908.5MM | $1,774.2MM | $1,781.7MM | $1,796.0MM | $1,813.7MM | $1,807.6MM |
| WA Credit Score | 767+1 | 767 | 766 | 765 | 766 | 765 |
| WA APR | 5.37%+1.32pp | 5.10% | 4.64% | 4.05% | 3.64% | 3.44% |
| WA original term mo | 66.0+1.0 | 65.0 mo | 65.0 mo | 65.0 mo | 65.0 mo | 63.0 mo |
| % new vehicles | 84.2% | 82.6% | 81.3% | 81.3% | 79.1% | 78.4% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 23.9% TX 15.3% IL 4.6% | CA 21.3% TX 15.3% PA 4.1% | CA 24.4% TX 15.1% IL 4.4% | CA 24.4% TX 15.1% IL 4.4% | CA 24.4% TX 15.1% IL 4.4% | CA 27.3% TX 13.1% PA 4.1% |
| Structure (at issuance) | ||||||
| AAA spread | +37 bps−16bps | +55 bps | +40 bps | +52 bps | — | +69 bps |
| AAA % of pool | 71.3%+2.7pp | 70.5% | — | 69.0% | 68.0% | 68.3% |
| Subordination below AAA | 1.8%−0.5pp | 2.3% | — | 2.2% | 2.2% | 2.2% |
| OC (initial) | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
| OC target | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
| OC floor | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
| YSOC | 6.40% | 9.82% | 7.65% | 10.91% | 11.78% | 11.48% |
| Tranches | 6 | 6 | 6 | 6 | 5 | 6 |
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
| TAOT 2024-A | MBART 2024-1 | FCAOT 2023-C | VALET 2023-2 | HART 2023-C | WOART 2023-D | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-01-30 | 2024-01-24 | 2023-11-21 | 2023-11-21 | 2023-11-13 | 2023-11-08 |
| Pool balance | $1,908.5MM | — | $1,443.4MM | $1,418.8MM | $1,822.5MM | $1,119.4MM |
| WA Credit Score | 767+11 | 754 | 753 | 774 | 768 | 756 |
| WA APR | 5.37%−0.32pp | 7.74% | 4.92% | 5.69% | 5.62% | 6.13% |
| WA original term mo | 66.0−0.5 | 69.6 mo | 63.6 mo | — | 65.6 mo | 67.4 mo |
| % new vehicles | 84.2% | 40.3% | 91.2% | 73.4% | 94.3% | 95.5% |
| Reserve % | 0.25% | — | 0.23% | 0.23% | 0.25% | 0.19% |
| Geo top-3 | CA 23.9% TX 15.3% IL 4.6% | CA 21.6% FL 15.3% TX 14.3% | TX 16.0% CA 9.6% FL 8.4% | TX 14.8% CA 13.6% FL 9.6% | TX 12.0% FL 11.7% CA 10.9% | FL 44.7% GA 19.6% NC 16.6% |
| Structure (at issuance) | ||||||
| AAA spread | +37 bps−26bps | +66 bps | +55 bps | +64 bps | +63 bps | +58 bps |
| AAA % of pool | 71.3%+3.1pp | 42.3% | 68.2% | 70.8% | 68.9% | 67.6% |
| Subordination below AAA | 1.8%−2.3pp | 0.0% | 4.6% | 0.0% | 4.4% | 4.0% |
| OC (initial) | 0.85% | 2.50% | 2.00% | 3.00% | 3.00% | — |
| OC target | 0.85% | 2.50% | 2.00% | — | 3.00% | 1.15% |
| OC floor | 0.85% | 2.50% | 2.00% | — | 3.00% | 0.50% |
| YSOC | 6.40% | — | 7.07% | 9.17% | 6.84% | 8.92% |
| Tranches | 6 | 5 | 7 | 5 | 7 | 7 |
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
Left: per-series cumulative NET loss at matched seasoning 10-D (10-D servicer distribution reports). IQR band uses a fixed cohort of all peer series with ≥18 months of data (139 series across 9 issuers). Right: portfolio-level 60+ DQ rate aggregated across all active deals per issuer (calendar time, last 3 years), from ABS-EE loan-level data ABS-EE.
Toyota Motor Credit Corporation — ticker TAOT.
Peer tier: prime.
Open in Explorer ↗ for
FICO sub-band and new/used stratification.