EX-20 3 file002.txt SERVICER'S CERTIFICATE
TOYOTA MOTOR CREDIT CORPORATION SERVICER'S CERTIFICATE -- TOYOTA AUTO RECEIVABLES 2002-B OWNER TRUST DISTRIBUTION DATE OF FEBRUARY 18, 2003 FOR THE COLLECTION PERIOD JANUARY 1, 2003 THROUGH JANUARY 31, 2003 ------------------------------------------------------------------------------------------------------------------------------------ Subordinated Class A-1 Class A-2 Class A-3 Class A-4 ----------- --------- --------- --------- --------- Seller's Total Balance Balance Balance Balance Interest ------------------------------------------------------------------------------------------------------------------------------------ POOL DATA - ORIGINAL DEAL PARAMETERS -------------------- Securities Balance $1,552,000,000.00 $444,000,000.00 $387,000,000.00 $457,000,000.00 $264,000,000.00 Senior Subordinate Tranche $48,001,788.00 $48,001,788.00 Receivables Pool Balance $1,600,001,788.00 Principal Factor 1.00000000 1.00000000 1.00000000 1.00000000 1.00000000 Rate 1.91375% 2.79% 3.76% 4.39% Final Scheduled Payment Date June 16, 2003 December 15, 2004 June 15, 2006 May 15, 2009 May 15, 2009 Number of Contracts 102,386 Weighted Average A.P.R. 7.24% Weighted Average Remaining Term 51.97 months Servicing Fee Rate 1.00% POOL DATA - PRIOR MONTH ----------------- Securities Balance $1,100,309,092.56 $0.00 $379,309,092.56 $457,000,000.00 $264,000,000.00 Senior Subordinate Tranche $47,639,882.46 $47,639,882.46 Receivables Pool Balance $1,147,948,975.02 Securities Pool Factor 0.70896204 0.00000000 0.98012685 1.00000000 1.00000000 0.99246058 Number of Contracts 86,248 Weighted Average A.P.R. 7.24% Weighted Average Remaining Term 44.60 months Precompute and Simple Interest Advances $2,404,998.54 Payahead Account Balance $337,960.56 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 $1,052,466,265.25 $0.00 $331,466,265.25 $457,000,000.00 $264,000,000.00 Senior Subordinate Tranche $45,568,440.28 $45,568,440.28 Receivables Pool Balance $1,098,034,705.53 Securities Pool Factor 0.67813548 0.00000000 0.85650198 1.00000000 1.00000000 0.949307144 Number of Contracts 84,060 Weighted Average A.P.R. 7.24% Weighted Average Remaining Term 43.76 months Precompute and Simple Interest Advances $2,045,373.15 Payahead Account Balance $305,267.42 Interest Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 Principal Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ 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) 3.50% Specified Reserve Account Amount (IF CONDITION I OR II MET) $36,836,319.28 Beginning Balance $0.00 Total Withdraw $0.00 Amount Available for Deposit to the Reserve Account $2,477,946.88 -------------- Reserve Account Balance Prior to Release $2,477,946.88 Reserve Account Required Amount $0.00 Reserve Account Release to Seller $2,477,946.88 -------------- Ending Reserve Account Balance $0.00 ------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------ REVOLVING LIQUIDITY NOTE ------------------------ Total Amount Available $8,000,009.00 Beginning of Period Balance $0.00 Draws $0.00 Reimbursements $0.00 -------------- End of Period Balance $0.00 Current Period Undrawn Amount $8,000,009.00 ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------
LIQUIDATION OF CHARGE-OFFS AND REPOSSESSIONS --------------------------------------------
Vehicles Amount -------- ------ Liquidated Contracts 55 -- Gross Principal Balance of Liquidated Receivables $613,135.38 Net Liquidation Proceeds Received During the Collection Period ($309,744.73) Recoveries on Previously Liquidated Contracts ($10,760.86) -------------- Aggregate Credit Losses for the Collection Period $292,629.79 -------------- -------------- Cumulative Credit Losses for all Periods 212 $1,240,533.63 --- -------------- Repossessed in Current Period 44 -- RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE ANNUALIZED AVERAGE FOR EACH COLLECTION PERIOD: Charge-Off Rate Second Preceding Collection Period 0.20% First Preceding Collection Period 0.29% Current Collection Period 0.31% ------------------------------------------------------------------------------------------------------------------------------------ CONDITION (I) (CHARGE-OFF RATE) Three Month Average 0.27% Charge-off Rate Indicator ( > 2.25%) CONDITION NOT MET ------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------ DELINQUENT AND REPOSSESSED CONTRACTS ------------------------------------ Percent Contracts Percent Amount ------- --------- ------- ------ 31-60 Days Delinquent 0.86% 721 0.97% $10,699,487.26 61-90 Days Delinquent 0.20% 166 0.23% $2,529,187.62 Over 90 Days Delinquent 0.22% 184 0.23% $2,577,973.08 ------ --------------- Total Delinquencies 1,071 $15,806,647.96 ====== =============== Repossessed Vehicle Inventory 96 * * 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 0.34% First Preceding Collection Period 0.39% Current Collection Period 0.42% ------------------------------------------------------------------------------------------------------------------------------------ CONDITION (II) (DELINQUENCY PERCENTAGE) Three Month Average 0.38% Delinquency Percentage Indicator ( > 2.25%) CONDITION NOT MET ------------------------------------------------------------------------------------------------------------------------------------
TOYOTA MOTOR CREDIT CORPORATION SERVICER'S CERTIFICATE -- TOYOTA AUTO RECEIVABLES 2002-B OWNER TRUST DISTRIBUTION DATE OF FEBRUARY 18, 2003 FOR THE COLLECTION PERIOD JANUARY 1, 2003 THROUGH JANUARY 31, 2003 ------------------------------------------------------------------------------------------------------------------------------------ Subordinated Class A-1 Class A-2 Class A-3 Class A-4 ------------ --------- --------- --------- --------- Sellers's Total Balance Balance Balance Balance Interest ------------------------------------------------------------------------------------------------------------------------------------ COLLECTIONS ----------- Principal Payments Received $49,301,134.11 Interest Payments Received $7,333,760.04 Net Precomputed Payahead Amount $32,693.14 Aggregate Net Liquidation Proceeds Received $320,505.59 Principal on Repurchased Contracts $0.00 Interest on Repurchased Contracts $0.00 ---------------- Total Collections $56,988,092.88 Net Simple Interest Advance Amount ($330,480.18) Net Precomputed Advance Amount ($29,145.21) ---------------- Total Available Amount $56,628,467.49 AMOUNTS DUE ----------- Servicing Fee $956,624.15 Accrued and Unpaid Interest $3,279,626.97 Principal $49,914,269.49 Reserve Account $2,477,946.88 ---------------- Total Amount Due $56,628,467.49 ACTUAL DISTRIBUTIONS -------------------- Servicing Fee $956,624.15 Interest $3,279,626.97 $0.00 $881,893.64 $1,431,933.33 $965,800.00 N/A Principal $49,914,269.49 $0.00 $47,842,827.31 $0.00 $0.00 $2,071,442.18 Reserve Account $2,477,946.88 ---------------- ------ --------------- ------------- ----------- ------------- Total Amount Distributed $56,628,467.49 $0.00 $48,724,720.95 $1,431,933.33 $965,800.00 $2,071,442.18 ------------------------------------------------------------------------------------------------------------------------------------ --------------------------------------------------------------------------------------------------------- Monthly Information by Type of Loan ----------------------------------- Precomputed Contracts --------------------- Scheduled Principal Collections $730,352.15 Prepayments in Full 124 contracts $482,058.04 Repurchased Receivables Principal $0.00 Payments Behind/Ahead on Repurchased Receivables $0.00 Total Collections $1,323,099.22 Advances - Reimbursement of Previous Advances $29,145.21 Advances - Current Advance Amount $0.00 Payahead Account - Payments Applied $32,693.14 Payahead Account - Additional Payaheads $0.00 Simple Interest Contracts ------------------------- Collected Principal $27,679,960.57 Prepayments in Full 2009 contracts $20,408,763.35 Collected Interest $7,223,071.01 Repurchased Receivables Principal $0.00 Repurchased Receivables Interest $0.00 Advances - Reimbursement of Previous Advances $330,480.18 Advances - Current Advance Amount $0.00 ---------------------------------------------------------------------------------------------------------
I hereby certify to the best of my knowledge that the report provided is true and correct. /s/ Angela Burraston ------------------------------------------------- Angela Burraston ABS Accounting Manager