| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 431.1 | 21.5% | 73.4% | 4.44% fxd | 0.22 | 2026-08-17 | A-1+ | P-1 |
| Class A-2a | 315.8 | 15.8% | 57.6% | 4.29% fxd | 1.06 | 2028-06-15 | AAA | Aaa |
| Class A-2b | 345.4 | 17.3% | 40.3% | +30 bps SOFR | 1.06 | 2028-06-15 | AAA | Aaa |
| Class A-3 | 661.2 | 33.0% | 7.3% | 4.11% fxd | 2.47 | 2030-03-15 | AAA | Aaa |
| Class A-4 | 99.0 | 4.9% | 2.4% | 4.19% fxd | 3.76 | 2031-01-15 | AAA | Aaa |
| Class B | 47.5 | 2.4% | 0.0% | — | — | 2032-02-17 | — | — |
| 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 | RBC Capital Markets, Credit Agricole Securities, Mizuho Securities |
| TAOT 2025-C | TAOT 2025-B | TAOT 2025-A | TAOT 2024-D | TAOT 2024-C | TAOT 2024-B | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-07-30 | 2025-04-30 | 2025-01-29 | 2024-10-17 | 2024-07-30 | 2024-04-30 |
| Pool balance | $2,001.9MM | $1,988.8MM | $1,977.2MM | $1,841.9MM | $1,864.8MM | $1,876.3MM |
| WA Credit Score | 770+1 | 769 | 769 | 770 | 769 | 767 |
| WA APR | 5.85%−0.16pp | 6.05% | 6.01% | 5.96% | 6.04% | 5.70% |
| WA original term mo | 65.7−0.0 | 65.7 mo | 65.7 mo | 65.4 mo | 65.4 mo | 66.0 mo |
| % new vehicles | 88.0% | 88.0% | 91.0% | 90.0% | 87.0% | 86.7% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 21.9% TX 15.8% IL 3.9% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | +30 bps−7bps | +54 bps | +33 bps | +39 bps | +37 bps | +35 bps |
| AAA % of pool | 71.0%−0.3pp | 71.7% | — | 73.7% | 71.0% | 71.0% |
| Subordination below AAA | 2.4%+0.0pp | 2.4% | — | 2.4% | 2.3% | 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 | 5.09% | 4.46% | 3.90% | 4.99% | 6.16% | 6.73% |
| 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-C | GMCAR 2025-3 | HART 2025-B | NAROT 2025-A | WOART 2025-B | HAROT 2025-2 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-07-30 | 2025-07-16 | 2025-06-11 | 2025-05-27 | 2025-05-14 | 2025-05-08 |
| Pool balance | $2,001.9MM | $974.1MM | $2,188.2MM | $1,668.5MM | $1,281.8MM | $2,483.1MM |
| WA Credit Score | 7700 | 783 | 770 | 789 | 756 | 769 |
| WA APR | 5.85%+0.15pp | 5.70% | 5.95% | 4.46% | 6.49% | 4.89% |
| WA original term mo | 65.7−2.0 | 69.0 mo | 67.5 mo | — | 67.9 mo | 62.1 mo |
| % new vehicles | 88.0% | 87.9% | 97.5% | 6.9% | 96.4% | 86.1% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.24% | 0.25% |
| Geo top-3 | CA 21.9% TX 15.8% IL 3.9% | TX 13.7% FL 7.4% CA 6.4% | CA 14.3% TX 11.9% FL 9.3% | TX 14.8% FL 7.3% CA 6.7% | FL 47.7% GA 18.7% NC 15.4% | CA 16.9% TX 9.9% FL 6.2% |
| Structure (at issuance) | ||||||
| AAA spread | +30 bps−16bps | +30 bps | — | +45 bps | +47 bps | +48 bps |
| AAA % of pool | 71.0%+0.9pp | 72.9% | 56.0% | 68.0% | 70.1% | 72.8% |
| Subordination below AAA | 2.4%−0.6pp | 3.0% | 4.6% | 1.4% | 4.3% | 0.0% |
| OC (initial) | 0.85% | 2.75% | 3.00% | 2.50% | — | — |
| OC target | 0.85% | 2.75% | 3.00% | 2.50% | 0.90% | — |
| OC floor | 0.85% | 2.75% | 3.00% | 2.50% | 0.50% | — |
| YSOC | 5.09% | 3.50% | 5.22% | 7.79% | 5.38% | 5.43% |
| Tranches | 6 | 7 | 7 | 6 | 7 | 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 (175 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.