EX-20 4 a2074383zex-20.htm EXHIBIT 20
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EXHIBIT 20


TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of March 15, 2002 for the Collection Period February 1, 2002 through February 28, 2002

 
   Total
   Class A-1
Balance
   Class A-2
Balance
   Class A-3
Balance
   Class A-4
Balance
Pool Data—Original Deal Parameters                              
  Securities Balance   $ 1,455,000,000.00   $ 382,500,000.00   $ 462,000,000.00   $ 391,000,000.00   $ 219,500,000.00
  Receivables Pool Balance   $ 1,500,000,001.00                        
  Principal Factor     1.00000000     1.00000000     1.00000000     1.00000000     1.00000000
  Rate           3.470%     3.770%     4.4749%     4.720%
  Final Scheduled Payment Date           September 16, 2002     July 15, 2004     December 15, 2005     September 15, 2008
  Number of Contracts     104,437                        
  Weighted Average A.P.R.     8.55%                        
  Weighted Average Remaining Term     50.65   months                      
  Servicing Fee Rate     1.00%                        

Pool Data—Prior Month
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Securities Balance   $ 1,133,707,910.56   $ 61,207,910.56   $ 462,000,000.00   $ 391,000,000.00   $ 219,500,000.00
  Receivables Pool Balance   $ 1,178,707,911.56                        
  Securities Pool Factor     0.77918069     0.16002068     1.00000000     1.00000000     1.00000000
  Number of Contracts     91,773                        
  Weighted Average A.P.R.     8.58%                        
  Weighted Average Remaining Term     45.92   months                      
  Precompute and Simple Interest Advances   $ 2,599,134.28                        
  Payahead Account Balance   $ 808,532.16                        
 
Interest Shortfall
 
$
0.00
 
$
0.00
 
$
0.00
 
$
0.00
 
$
0.00
  Principal Shortfall   $ 0.00   $ 0.00   $ 0.00   $ 0.00   $ 0.00

Pool Data—Current Month
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Securities Balance   $ 1,086,896,866.78   $ 14,396,866.78   $ 462,000,000.00   $ 391,000,000.00   $ 219,500,000.00
  Receivables Pool Balance   $ 1,131,896,867.78                        
  Securities Pool Factor     0.74700816     0.03763887     1.00000000     1.00000000     1.00000000
  Number of Contracts     89,623                        
  Weighted Average A.P.R.     8.59%                        
  Weighted Average Remaining Term     45.19   months                      
  Precompute and Simple Interest Advances   $ 2,711,221.57                        
  Payahead Account Balance   $ 731,177.32                        

Interest Shortfall
 
$
0.00
 
$
0.00
 
$
0.00
 
$
0.00
 
$
0.00
Principal Shortfall   $ 0.00   $ 0.00   $ 0.00   $ 0.00   $ 0.00

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Reserve Account        
  Initial Deposit Amount   $ 0.00  
  Specified Reserve Account Percentage     0.00 %
  Specified Reserve Account Amount   $ 0.00  
  Specified Reserve Account Percentage (if Condition i or ii met)     5.50 %
  Specified Reserve Account Amount (if Condition i or ii met)   $ 59,779,327.67  
 
Beginning Balance
 
$
0.00
 
  Total Withdraw   $ 0.00  
  Amount Available for Deposit to the Reserve Account   $ 2,749,642.13  
   
 
  Reserve Account Balance Prior to Release   $ 2,749,642.13  
  Reserve Account Required Amount   $ 0.00  
  Reserve Account Release to Seller   $ 2,749,642.13  
   
 
  Ending Reserve Account Balance   $ 0.00  

       

Revolving Liquidity Note      
  Total Amount Available   $ 7,500,000.00
 
Beginning of Period Balance
 
$
0.00
  Draws   $ 0.00
  Reimbursements   $ 0.00
   
  End of Period Balance   $ 0.00
 
Current Period Undrawn Amount
 
$
7,500,000.00

       

Liquidation of Charge-offs and Repossessions

 
   Vehicles
   Amount
  
  Liquidated Contracts   59        
   
       
  Gross Principal Balance of Liquidated Receivables       $ 788,044.64  
  Net Liquidation Proceeds Received During the Collection Period       $ (481,961.75 )
  Recoveries on Previously Liquidated Contracts       $ (6,216.01 )
       
 
  Aggregate Credit Losses for the Collection Period       $ 299,866.88  
       
 
  Cumulative Credit Losses for all Periods   170   $ 763,750.30  
   
 
 
  Repossessed in Current Period   36        
   
       

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   Annualized Average
Charge-Off Rate
Ratio of Net Credit Losses to the Average Pool Balance for Each Collection Period:    
  Second Preceding Collection Period   0.15%
  First Preceding Collection Period   0.19%
  Current Collection Period   0.31%

Condition (i) (Charge-off Rate)
 
 
Three Month Average   0.22%
Charge-off Rate Indicator (> 1.25%)   condition not met

Delinquent and Repossessed Contracts

 
   Percent
   Contracts
   Percent
   Amount
  
31-60 Days Delinquent   0.90 % 805   0.88 % $ 10,013,467.19  
61-90 Days Delinquent   0.17 % 154   0.17 % $ 1,934,798.75  
Over 90 Days Delinquent   0.20 % 176   0.22 % $ 2,454,804.91  
       
     
 
Total Delinquencies       1,135       $ 14,403,070.85  
       
     
 
Repossessed Vehicle Inventory       95*            
  * Included with delinquencies above                    

Ratio of Number of Contracts Delinquent 60 Days or More to the Outstanding Number of Receivables as of Each Collection Period (Includes Repossessions):
 
 
 
 
 
 
 
 
 
 
  Second Preceding Collection Period                 0.32 %
  First Preceding Collection Period                 0.39 %
  Current Collection Period                 0.37 %

Condition (ii) (Delinquency Percentage)
 
 
 
 
 
 
 
 
 
 
Three Month Average                 0.36 %
Delinquency Percentage Indicator (> 1.25%)                 condition not met  

Page 3


TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Distribution Date of March 15, 2002 for the Collection Period February 1, 2002 through February 28, 2002

 
   Total
   Class A-1
Balance
   Class A-2
Balance
   Class A-3
Balance
   Class A-4
Balance
Collections                              
  Principal Payments Received   $ 46,022,999.14                        
  Interest Payments Received   $ 7,780,405.07                        
  Net Precomputed Payahead Amount   $ 77,354.84                        
  Aggregate Net Liquidation Proceeds Received   $ 488,177.76                        
  Principal on Repurchased Contracts   $ 0.00                        
  Interest on Repurchased Contracts   $ 0.00                        
   
                       
  Total Collections   $ 54,368,936.81                        
  Net Simple Interest Advance Amount   $ 8,035.80                        
  Net Precomputed Advance Amount   $ 104,051.49                        
   
                       
  Total Available Amount   $ 54,481,024.10                        

Amounts Due
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Servicing Fee   $ 982,256.59                        
  Accrued and Unpaid Interest   $ 3,938,081.60                        
  Principal   $ 46,811,043.78                        
  Reserve Fund   $ 2,749,642.13                        
   
                       
  Total Amount Due   $ 54,481,024.10                        

Actual Distributions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
  Servicing Fee   $ 982,256.59                        
  Interest   $ 3,938,081.60   $ 165,193.35   $ 1,451,450.00   $ 1,458,071.58   $ 863,366.67
  Principal   $ 46,811,043.78   $ 46,811,043.78   $ 0.00   $ 0.00   $ 0.00
  Reserve Fund   $ 2,749,642.13                        
   
 
 
 
 
  Total Amount Distributed   $ 54,481,024.10   $ 46,976,237.13   $ 1,451,450.00   $ 1,458,071.58   $ 863,366.67

       

Page 4

Monthly Information by Type of Loan

Precomputed Contracts          
  Scheduled Principal Collections       $ 1,762,178.70
  Prepayments in Full   249 contracts   $ 815,846.72
  Repurchased Receivables Principal       $ 0.00
  Payments Behind/Ahead on Repurchased Receivables       $ 0.00
  Total Collections       $ 2,671,421.93
  Advances—Reimbursement of Previous Advances       $ 0.00
  Advances—Current Advance Amount       $ 104,051.49
  Payahead Account—Payments Applied       $ 77,354.84
  Payahead Account—Additional Payaheads       $ 0.00

Simple Interest Contracts
 
 
 
 
 
  Collected Principal       $ 25,371,379.00
  Prepayments in Full   1842 contracts   $ 18,073,594.72
  Collected Interest       $ 7,687,008.56
  Repurchased Receivables Principal       $ 0.00
  Repurchased Receivables Interest       $ 0.00
  Advances—Reimbursement of Previous Advances       $ 0.00
  Advances—Current Advance Amount       $ 8,035.80

Page 5


TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust
Payment Date of March 15, 2002 for the Collection Period of February 1 through February 28, 2002

 
    
   Class A3
Balance
  
Note Rates for March 15, 2002 Payment Date          
One Month LIBOR       1.84750 %
Spread       0.07000 %
       
 
Note Rates:       1.91750 %

Number of Days in Interest Period (Days)
 
 
 
28
 

Interest Payments
 
 
 
 
 
Interest Calculation for Current Interest Period At Certificate Payment Date:       583,133.06  
At Certificate Payment Date:          
  Due to Swap Counterparty (Swap Payments Outgoing)       1,458,071.58  
  Paid to Swap Counterparty (Swap Payments Outgoing)       1,458,071.58  
  Proration %   0.00 %    
  Interest Due to Noteholders (Swap Payments Incoming)       583,133.06  
  Interest Payment to Noteholders (Swap Payments Incoming)       583,133.06  

Net Swap Payment due to / (received by) Swap Counterparty
 
 
 
(874,938.52
)

 
 
 
 
 
 

Principal Payments
 
 
 
 
 
Principal Payment due to Investors       —  
Ending Notional Balance       391,000,000.00  

Swap Termination Payment
 
 
 
N/A
 

Note Rates for April 15, 2002 Payment Date
 
 
 
 
 
One Month LIBOR       1.90000 %
Spread       0.07000 %
       
 
Note Rates:       1.97000 %

Number of Days in Interest Period (Days)
 
 
 
31
 

I hereby certify to the best of my knowledge that the report provided is true and correct.

 
    
/s/ Angela Brown
Angela Brown, ABS Accounting Manager		    

Page 6



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TOYOTA MOTOR CREDIT CORPORATION Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust Distribution Date of March 15, 2002 for the Collection Period February 1, 2002 through February 28, 2002
TOYOTA MOTOR CREDIT CORPORATION Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust Distribution Date of March 15, 2002 for the Collection Period February 1, 2002 through February 28, 2002
TOYOTA MOTOR CREDIT CORPORATION Servicer's Certificate—Toyota Auto Receivables 2001-C Owner Trust Payment Date of March 15, 2002 for the Collection Period of February 1 through February 28, 2002