| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 384.4 | 19.2% | 75.8% | +12 bps | — | 2026-10-15 | A-1+ | F1+ |
| Class A-2A | 395.0 | 19.8% | 56.1% | +32 bps | — | 2028-08-15 | AAA | AAA |
| Class A-2B | 277.0 | 13.9% | 42.2% | +32 bps SOFR | — | 2028-08-15 | AAA | AAA |
| Class A-3 | 672.0 | 33.6% | 8.6% | +37 bps | — | 2030-06-17 | AAA | AAA |
| Class A-4 | 124.1 | 6.2% | 2.4% | +42 bps | — | 2031-02-17 | AAA | AAA |
| Class B | 47.5 | 2.4% | 0.0% | — | — | 2032-05-17 | — | — |
| 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 | J.P. Morgan Securities, TD Securities, Mizuho Securities, SMBC Nikko Securities |
| TAOT 2025-D | TAOT 2025-C | TAOT 2025-B | TAOT 2025-A | TAOT 2024-D | TAOT 2024-C | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-10-23 | 2025-07-30 | 2025-04-30 | 2025-01-29 | 2024-10-17 | 2024-07-30 |
| Pool balance | $1,998.8MM | $2,001.9MM | $1,988.8MM | $1,977.2MM | $1,841.9MM | $1,864.8MM |
| WA Credit Score | 771+2 | 770 | 769 | 769 | 770 | 769 |
| WA APR | 5.71%−0.30pp | 5.85% | 6.05% | 6.01% | 5.96% | 6.04% |
| WA original term mo | 65.8+0.1 | 65.7 mo | 65.7 mo | 65.7 mo | 65.4 mo | 65.4 mo |
| % new vehicles | 88.0% | 88.0% | 88.0% | 91.0% | 90.0% | 87.0% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 22.9% TX 15.8% IL 3.9% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | +32 bps−5bps | +30 bps | +54 bps | +33 bps | +39 bps | +37 bps |
| AAA % of pool | 73.4%+2.1pp | 71.0% | 71.7% | — | 73.7% | 71.0% |
| Subordination below AAA | 2.4%+0.0pp | 2.4% | 2.4% | — | 2.4% | 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 | 4.94% | 5.09% | 4.46% | 3.90% | 4.99% | 6.16% |
| 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-D | WOART 2025-D | FCAOT 2025-B | HART 2025-C | HAROT 2025-3 | GMCAR 2025-3 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-10-23 | 2025-10-15 | 2025-09-26 | 2025-09-17 | 2025-08-12 | 2025-07-16 |
| Pool balance | $1,998.8MM | $982.7MM | $1,645.7MM | $2,148.3MM | $2,483.1MM | $974.1MM |
| WA Credit Score | 771+2 | 757 | 752 | 772 | 769 | 783 |
| WA APR | 5.71%+0.10pp | 6.15% | 5.21% | 5.61% | 4.97% | 5.70% |
| WA original term mo | 65.8−2.1 | 68.6 mo | 66.0 mo | 67.9 mo | 61.9 mo | 69.0 mo |
| % new vehicles | 88.0% | 97.6% | 93.5% | 99.5% | 86.0% | 87.9% |
| Reserve % | 0.25% | 0.23% | 0.24% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 22.9% TX 15.8% IL 3.9% | FL 46.0% GA 18.7% NC 15.7% | TX 16.5% CA 8.7% FL 8.2% | TX 13.0% FL 9.8% CA 8.2% | CA 16.3% TX 9.8% PA 7.6% | TX 13.7% FL 7.4% CA 6.4% |
| Structure (at issuance) | ||||||
| AAA spread | +32 bps+1bps | +31 bps | +30 bps | +35 bps | +35 bps | +30 bps |
| AAA % of pool | 73.4%+1.8pp | 69.9% | 71.7% | 68.9% | 72.5% | 72.9% |
| Subordination below AAA | 2.4%−1.8pp | 4.2% | 4.8% | 4.6% | 0.0% | 3.0% |
| OC (initial) | 0.85% | — | 2.00% | 3.00% | — | 2.75% |
| OC target | 0.85% | 0.90% | 2.00% | 3.00% | — | 2.75% |
| OC floor | 0.85% | 0.50% | 2.00% | 3.00% | — | 2.75% |
| YSOC | 4.94% | 6.55% | 4.06% | 5.09% | 4.77% | 3.50% |
| Tranches | 6 | 7 | 7 | 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 (181 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.