| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 383.0 | 20.5% | 73.3% | 5.47% fxd | 0.20 | 2025-08-15 | A-1+ | F1+ |
| Class A-2a | 358.0 | 19.2% | 54.1% | 5.16% fxd | 1.03 | 2027-05-17 | AAA | AAA |
| Class A-2b | 258.0 | 13.8% | 40.3% | +37 bps SOFR | 1.03 | 2027-05-17 | AAA | AAA |
| Class A-3 | 616.0 | 33.0% | 7.2% | 4.88% fxd | 2.44 | 2029-03-15 | AAA | AAA |
| Class A-4 | 91.2 | 4.9% | 2.3% | 4.83% fxd | 3.74 | 2029-11-15 | AAA | AAA |
| Class B | 43.8 | 2.3% | 0.0% | — | 3.88 | 2031-02-18 | NR | — |
| Sponsor | Toyota Motor Credit Corporation |
|---|---|
| Servicer | Toyota Motor Credit Corporation |
| Depositor / Transferor | Toyota Auto Finance Receivables LLC |
| Indenture Trustee | Citibank, N.A |
| Owner Trustee | Wilmington Trust, National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | BMO Capital Markets, BofA Securities, Lloyds Securities, MUFG Securities Americas |
| TAOT 2024-C | TAOT 2024-B | TAOT 2024-A | TAOT 2023-D | TAOT 2023-C | TAOT 2023-B | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-07-30 | 2024-04-30 | 2024-01-30 | 2023-11-14 | 2023-08-15 | 2023-05-23 |
| Pool balance | $1,864.8MM | $1,876.3MM | $1,908.5MM | $1,774.2MM | $1,781.7MM | $1,796.0MM |
| WA Credit Score | 769+2 | 767 | 767 | 767 | 766 | 765 |
| WA APR | 6.04%+0.94pp | 5.70% | 5.37% | 5.10% | 4.64% | 4.05% |
| WA original term mo | 65.4+0.4 | 66.0 mo | 66.0 mo | 65.0 mo | 65.0 mo | 65.0 mo |
| % new vehicles | 87.0% | 86.7% | 84.2% | 82.6% | 81.3% | 81.3% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 16.3% TX 16.2% PA 4.6% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | +37 bps−3bps | +35 bps | +37 bps | +55 bps | +40 bps | +52 bps |
| AAA % of pool | 71.0%+0.3pp | 71.0% | 71.3% | 70.5% | — | 69.0% |
| Subordination below AAA | 2.3%+0.1pp | 2.3% | 1.8% | 2.3% | — | 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 | 6.16% | 6.73% | 6.40% | 9.82% | 7.65% | 10.91% |
| Tranches | 6 | 6 | 6 | 6 | 6 | 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-C | HART 2024-B | GMCAR 2024-3 | FCAOT 2024-B | BMWOT 2024-A | NAROT 2024-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-07-30 | 2024-07-24 | 2024-07-10 | 2024-06-24 | 2024-06-11 | 2024-05-22 |
| Pool balance | $1,864.8MM | $1,925.2MM | $1,420.3MM | $1,999.5MM | $1,910.0MM | $1,424.1MM |
| WA Credit Score | 769−11 | 768 | 783 | 755 | 784 | 780 |
| WA APR | 6.04%+1.19pp | 5.98% | 5.69% | 4.65% | 3.12% | 4.85% |
| WA original term mo | 65.4−0.7 | 67.3 mo | 69.0 mo | 64.8 mo | 63.6 mo | — |
| % new vehicles | 87.0% | 96.5% | 87.7% | 93.6% | 68.2% | 10.5% |
| Reserve % | 0.25% | 0.25% | 0.24% | 0.23% | 0.25% | 0.25% |
| Geo top-3 | CA 16.3% TX 16.2% PA 4.6% | TX 12.4% CA 12.2% FL 10.4% | TX 14.5% FL 7.5% MI 5.2% | TX 16.0% CA 8.5% FL 8.4% | CA 16.7% TX 13.2% FL 11.0% | TX 17.8% FL 9.5% CA 6.6% |
| Structure (at issuance) | ||||||
| AAA spread | +37 bps0bps | +37 bps | +36 bps | +40 bps | +34 bps | +38 bps |
| AAA % of pool | 71.0%+0.5pp | 70.5% | 71.4% | 70.0% | 72.6% | 68.2% |
| Subordination below AAA | 2.3%−0.6pp | 4.5% | 3.0% | 4.3% | 0.0% | 0.0% |
| OC (initial) | 0.85% | 3.00% | 1.50% | 2.00% | 2.50% | 4.00% |
| OC target | 0.85% | 3.00% | 2.00% | 2.00% | 2.50% | 4.00% |
| OC floor | 0.85% | 3.00% | 2.00% | 2.00% | 2.50% | 4.00% |
| YSOC | 6.16% | 6.43% | 4.40% | 7.87% | 6.03% | 8.57% |
| Tranches | 6 | 7 | 7 | 7 | 5 | 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.
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 (151 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.