| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 425.6 | 21.4% | 74.1% | 4.45% fxd | 0.21 | 2026-05-15 | A-1+ | F1+ |
| Class A-2a | 509.7 | 25.6% | 48.5% | 4.46% fxd | 1.07 | 2028-03-15 | AAA | AAA |
| Class A-2b | 189.5 | 9.5% | 39.0% | +54 bps SOFR | 1.07 | 2028-03-15 | AAA | AAA |
| Class A-3 | 623.2 | 31.3% | 7.6% | 4.34% fxd | 2.47 | 2029-11-15 | AAA | AAA |
| Class A-4 | 104.5 | 5.3% | 2.4% | 4.49% fxd | 3.72 | 2030-06-17 | AAA | AAA |
| Class B | 47.5 | 2.4% | 0.0% | — | — | 2031-11-17 | — | — |
| 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 | Barclays Capital, BMO Capital Markets, J.P. Morgan Securities, U.S. Bancorp Investments, Mizuho Securities |
| TAOT 2025-B | TAOT 2025-A | TAOT 2024-D | TAOT 2024-C | TAOT 2024-B | TAOT 2024-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-04-30 | 2025-01-29 | 2024-10-17 | 2024-07-30 | 2024-04-30 | 2024-01-30 |
| Pool balance | $1,988.8MM | $1,977.2MM | $1,841.9MM | $1,864.8MM | $1,876.3MM | $1,908.5MM |
| WA Credit Score | 7690 | 769 | 770 | 769 | 767 | 767 |
| WA APR | 6.05%+0.09pp | 6.01% | 5.96% | 6.04% | 5.70% | 5.37% |
| WA original term mo | 65.7+0.0 | 65.7 mo | 65.4 mo | 65.4 mo | 66.0 mo | 66.0 mo |
| % new vehicles | 88.0% | 91.0% | 90.0% | 87.0% | 86.7% | 84.2% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 20.9% TX 16.8% IL 4.0% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | +54 bps+17bps | +33 bps | +39 bps | +37 bps | +35 bps | +37 bps |
| AAA % of pool | 71.7%+0.6pp | — | 73.7% | 71.0% | 71.0% | 71.3% |
| Subordination below AAA | 2.4%+0.0pp | — | 2.4% | 2.3% | 2.3% | 1.8% |
| 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 | 4.46% | 3.90% | 4.99% | 6.16% | 6.73% | 6.40% |
| 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-B | VALET 2025-1 | FCAOT 2025-A | HART 2025-A | BMWOT 2025-A | HAROT 2025-1 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-04-30 | 2025-03-25 | 2025-03-25 | 2025-03-12 | 2025-02-12 | 2025-02-11 |
| Pool balance | $1,988.8MM | $1,427.5MM | $1,668.4MM | $2,188.3MM | $1,897.4MM | $2,429.2MM |
| WA Credit Score | 7690 | 772 | 755 | 769 | 784 | 768 |
| WA APR | 6.05%+1.09pp | 5.43% | 4.81% | 5.57% | 3.35% | 4.96% |
| WA original term mo | 65.7+0.8 | — | 64.8 mo | 67.9 mo | 65.1 mo | 61.7 mo |
| % new vehicles | 88.0% | 79.0% | 94.3% | 96.6% | 70.5% | 86.2% |
| Reserve % | 0.25% | 0.23% | 0.24% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 20.9% TX 16.8% IL 4.0% | TX 16.3% FL 8.5% CA 7.8% | TX 15.6% CA 8.9% FL 8.8% | CA 12.9% TX 12.5% FL 9.5% | CA 14.6% TX 14.6% FL 11.6% | CA 16.5% NY 7.3% TX 7.3% |
| Structure (at issuance) | ||||||
| AAA spread | +54 bps+14bps | +44 bps | +41 bps | +34 bps | +30 bps | +40 bps |
| AAA % of pool | 71.7%+0.7pp | 69.6% | 71.0% | 67.4% | 73.8% | 72.8% |
| Subordination below AAA | 2.4%+2.4pp | 0.0% | 4.7% | 4.5% | 0.0% | 0.0% |
| OC (initial) | 0.85% | 4.00% | 2.00% | 3.00% | 2.50% | — |
| OC target | 0.85% | — | 2.00% | 3.00% | 2.50% | — |
| OC floor | 0.85% | — | 2.00% | 3.00% | 2.50% | — |
| YSOC | 4.46% | 8.78% | 5.36% | 6.01% | 5.40% | 5.71% |
| Tranches | 6 | 5 | 7 | 7 | 5 | 4 |
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 (170 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.