| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | Moody's | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 412.0 | 20.8% | 75.3% | +9 bps | 0.20 | 2026-01-15 | P-1 | F1+ |
| Class A-2A | 652.4 | 33.0% | 42.3% | +33 bps | 1.01 | 2027-11-15 | Aaa | AAA |
| Class A-2B | — | — | — | +33 bps SOFR | 1.01 | 2027-11-15 | Aaa | AAA |
| Class A-3 | 656.1 | 33.2% | 9.1% | +37 bps | 2.37 | 2029-08-15 | Aaa | AAA |
| Class A-4 | 132.0 | 6.7% | 2.4% | +43 bps | 3.67 | 2030-05-15 | Aaa | AAA |
| Class B | 47.5 | 2.4% | 0.0% | — | — | 2031-09-15 | — | — |
| 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 | TD Securities, Lloyds Securities, Citigroup Global Markets, Scotia Capital, HSBC Securities |
| TAOT 2025-A | TAOT 2024-D | TAOT 2024-C | TAOT 2024-B | TAOT 2024-A | TAOT 2023-D | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-01-29 | 2024-10-17 | 2024-07-30 | 2024-04-30 | 2024-01-30 | 2023-11-14 |
| Pool balance | $1,977.2MM | $1,841.9MM | $1,864.8MM | $1,876.3MM | $1,908.5MM | $1,774.2MM |
| WA Credit Score | 769+2 | 770 | 769 | 767 | 767 | 767 |
| WA APR | 6.01%+0.31pp | 5.96% | 6.04% | 5.70% | 5.37% | 5.10% |
| WA original term mo | 65.7+0.3 | 65.4 mo | 65.4 mo | 66.0 mo | 66.0 mo | 65.0 mo |
| % new vehicles | 91.0% | 90.0% | 87.0% | 86.7% | 84.2% | 82.6% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 19.7% TX 16.6% PA 4.2% | TX 17.3% CA 15.6% PA 4.5% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | +33 bps−4bps | +39 bps | +37 bps | +35 bps | +37 bps | +55 bps |
| AAA % of pool | — | 73.7% | 71.0% | 71.0% | 71.3% | 70.5% |
| Subordination below AAA | — | 2.4% | 2.3% | 2.3% | 1.8% | 2.3% |
| 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 | 3.90% | 4.99% | 6.16% | 6.73% | 6.40% | 9.82% |
| 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 2025-A | WOART 2025-A | MBART 2025-1 | GMCAR 2025-1 | VALET 2024-1 | FCAOT 2024-D | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-01-29 | 2025-01-29 | 2025-01-23 | 2025-01-15 | 2024-11-26 | 2024-11-22 |
| Pool balance | $1,977.2MM | $1,305.7MM | — | $1,644.9MM | $1,749.4MM | $1,683.4MM |
| WA Credit Score | 769+8 | 756 | 761 | 781 | 774 | 754 |
| WA APR | 6.01%−0.07pp | 6.61% | 7.96% | 6.08% | 4.68% | 4.79% |
| WA original term mo | 65.7−0.5 | 68.2 mo | 67.5 mo | 13.0 mo | — | 64.9 mo |
| % new vehicles | 91.0% | 95.6% | 40.2% | 87.9% | 80.0% | 94.2% |
| Reserve % | 0.25% | 0.23% | — | 0.24% | 0.22% | 0.23% |
| Geo top-3 | CA 19.7% TX 16.6% PA 4.2% | FL 49.1% GA 18.2% NC 17.8% | CA 21.6% TX 16.5% NY 8.8% | TX 13.9% FL 7.0% MI 5.6% | TX 13.9% CA 10.6% FL 8.3% | TX 16.1% CA 8.6% FL 8.5% |
| Structure (at issuance) | ||||||
| AAA spread | +33 bps0bps | +33 bps | +32 bps | +33 bps | +36 bps | +32 bps |
| AAA % of pool | — | 71.1% | — | 73.4% | 68.9% | 69.5% |
| Subordination below AAA | — | 4.2% | — | 3.0% | 0.0% | 4.7% |
| OC (initial) | 0.85% | — | 2.50% | 2.75% | 4.00% | 2.00% |
| OC target | 0.85% | 0.90% | 2.50% | 2.75% | — | 2.00% |
| OC floor | 0.85% | 0.50% | 2.50% | 2.75% | — | 2.00% |
| YSOC | 3.90% | 4.86% | — | 3.13% | 10.68% | 6.20% |
| Tranches | 6 | 7 | 5 | 7 | 5 | 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 (165 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.