| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 375.0 | 20.0% | 73.3% | 5.51% fxd | 0.20 | 2025-05-15 | A-1+ | P-1 |
| Class A-2a | 262.1 | 14.0% | 59.3% | 5.41% fxd | 1.03 | 2027-03-15 | Aaa | Aaa |
| Class A-2b | 357.9 | 19.1% | 40.2% | +35 bps SOFR | 1.03 | 2027-03-15 | Aaa | Aaa |
| Class A-3 | 620.0 | 33.0% | 7.2% | 5.33% fxd | 2.46 | 2029-01-16 | Aaa | Aaa |
| Class A-4 | 91.3 | 4.9% | 2.3% | 5.28% fxd | 3.80 | 2029-07-16 | Aaa | Aaa |
| Class B | 43.7 | 2.3% | 0.0% | — | — | 2030-10-15 | — | — |
| Sponsor | Toyota Motor Credit Corporation |
|---|---|
| Servicer | Toyota Motor Credit Corporation |
| 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 | Barclays Capital, RBC Capital Markets, Mischler Financial Group, U.S. Bancorp Investments, SMBC Nikko Securities, HSBC Securities |
| TAOT 2024-B | TAOT 2024-A | TAOT 2023-D | TAOT 2023-C | TAOT 2023-B | TAOT 2023-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-04-30 | 2024-01-30 | 2023-11-14 | 2023-08-15 | 2023-05-23 | 2023-01-30 |
| Pool balance | $1,876.3MM | $1,908.5MM | $1,774.2MM | $1,781.7MM | $1,796.0MM | $1,813.7MM |
| WA Credit Score | 767+1 | 767 | 767 | 766 | 765 | 766 |
| WA APR | 5.70%+1.06pp | 5.37% | 5.10% | 4.64% | 4.05% | 3.64% |
| WA original term mo | 66.0+1.0 | 66.0 mo | 65.0 mo | 65.0 mo | 65.0 mo | 65.0 mo |
| % new vehicles | 86.7% | 84.2% | 82.6% | 81.3% | 81.3% | 79.1% |
| 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 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% |
| Structure (at issuance) | ||||||
| AAA spread | +35 bps−11bps | +37 bps | +55 bps | +40 bps | +52 bps | — |
| AAA % of pool | 71.0%+1.2pp | 71.3% | 70.5% | — | 69.0% | 68.0% |
| Subordination below AAA | 2.3%+0.1pp | 1.8% | 2.3% | — | 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 | 6.73% | 6.40% | 9.82% | 7.65% | 10.91% | 11.78% |
| Tranches | 6 | 6 | 6 | 6 | 6 | 5 |
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-B | GMCAR 2024-2 | HART 2024-A | FCAOT 2024-A | HAROT 2024-1 | WOART 2024-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-04-30 | 2024-04-10 | 2024-03-20 | 2024-03-19 | 2024-02-21 | 2024-02-14 |
| Pool balance | $1,876.3MM | $1,654.1MM | $1,812.8MM | $1,696.7MM | $2,159.2MM | $1,343.7MM |
| WA Credit Score | 767+1 | 784 | 766 | 756 | 768 | 757 |
| WA APR | 5.70%+0.24pp | 5.46% | 5.70% | 4.80% | 4.59% | 6.54% |
| WA original term mo | 66.0−0.6 | 68.0 mo | 66.6 mo | 63.7 mo | 62.2 mo | 67.6 mo |
| % new vehicles | 86.7% | 87.7% | 95.8% | 92.5% | 86.1% | 95.6% |
| Reserve % | 0.25% | 0.24% | 0.25% | 0.23% | 0.25% | 0.23% |
| Geo top-3 | CA 23.9% TX 15.3% IL 4.6% | TX 14.4% FL 7.1% NY 5.3% | TX 12.9% FL 11.5% CA 6.4% | TX 16.0% CA 9.1% FL 8.6% | NJ 4.9% MA 4.9% CA 4.8% | FL 47.9% GA 18.3% NC 15.8% |
| Structure (at issuance) | ||||||
| AAA spread | +35 bps−2bps | +39 bps | +42 bps | +36 bps | — | +34 bps |
| AAA % of pool | 71.0%−0.2pp | 71.5% | 69.7% | 70.4% | 73.6% | 71.2% |
| Subordination below AAA | 2.3%−1.8pp | 2.9% | 4.5% | 4.7% | 0.0% | 4.1% |
| OC (initial) | 0.85% | 1.50% | 3.00% | 2.00% | 2.50% | — |
| OC target | 0.85% | 2.00% | 3.00% | 2.00% | — | 1.15% |
| OC floor | 0.85% | 2.00% | 3.00% | 2.00% | — | 0.50% |
| YSOC | 6.73% | 5.27% | 5.15% | 5.77% | — | 6.75% |
| Tranches | 6 | 7 | 7 | 7 | 4 | 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 (146 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.