Ford Credit Auto Owner Trust 2024-B
04/23/2025 | Press release | Distributed by Public on 04/23/2025 07:50
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2024-B
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 10 | ||||
Additional information about the structure, cashflows, defined terms and parties for this transaction can be found in the prospectus, available on the SEC website (http://www.sec.gov) under the registration number 333-258040 and at https://www.ford.com/finance/investor-center/asset-backed-securitization.
I. ORIGINAL DEAL PARAMETERS
| Dollar Amount | # of Receivables | Weighted Avg Remaining Term at Cutoff | |||||||||||||||
| Initial Pool Balance | $1,999,478,618.95 | 53,438 | 57.0 months | ||||||||||||||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | |||||||||||||||
| Original Securities | |||||||||||||||||
| Class A-1 Notes | $ | 350,000,000.00 | 5.507 | % | July 15, 2025 | ||||||||||||
| Class A-2a Notes | $ | 323,350,000.00 | 5.40 | % | April 15, 2027 | ||||||||||||
| Class A-2b Notes | $ | 330,000,000.00 | 4.74867 | % | * | April 15, 2027 | |||||||||||
| Class A-3 Notes | $ | 653,300,000.00 | 5.10 | % | April 15, 2029 | ||||||||||||
| Class A-4 Notes | $ | 93,350,000.00 | 4.96 | % | May 15, 2030 | ||||||||||||
| Class B Notes | $ | 55,260,000.00 | 5.23 | % | May 15, 2030 | ||||||||||||
| Class C Notes | $ | 36,830,000.00 | 0.00 | % | December 15, 2031 | ||||||||||||
| Total | $ | 1,842,090,000.00 | |||||||||||||||
| * 30-day average SOFR + 0.40% | |||||||||||||||||
II. AVAILABLE FUNDS
| Interest: | |||||
| Interest Collections | $ | 5,565,708.91 | |||
| Principal: | |||||
| Principal Collections | $ | 35,750,496.84 | |||
| Prepayments in Full | $ | 19,029,629.99 | |||
| Liquidation Proceeds | $ | 808,534.07 | |||
| Recoveries | $ | 47,306.66 | |||
| Sub Total | $ | 55,635,967.56 | |||
| Collections | $ | 61,201,676.47 | |||
| Purchase Amounts: | |||||
| Purchase Amounts Related to Principal | $ | 79,033.40 | |||
| Purchase Amounts Related to Interest | $ | 450.66 | |||
| Sub Total | $ | 79,484.06 | |||
| Clean-up Call | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Available Funds - Total | $61,281,160.53 | ||||
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Ford Credit Auto Owner Trust 2024-B
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 10 | ||||
III. DISTRIBUTIONS
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | |||||||||||||||||||||||||
| Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 61,281,160.53 | |||||||||||||||||||
| Servicing Fee | $ | 1,250,613.55 | $ | 1,250,613.55 | $ | 0.00 | $ | 0.00 | $ | 60,030,546.98 | |||||||||||||||||||
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 60,030,546.98 | |||||||||||||||||||
| Interest - Class A-2a Notes | $ | 1,157,445.25 | $ | 1,157,445.25 | $ | 0.00 | $ | 0.00 | $ | 58,873,101.73 | |||||||||||||||||||
| Interest - Class A-2b Notes | $ | 1,004,145.18 | $ | 1,004,145.18 | $ | 0.00 | $ | 0.00 | $ | 57,868,956.55 | |||||||||||||||||||
| Interest - Class A-3 Notes | $ | 2,776,525.00 | $ | 2,776,525.00 | $ | 0.00 | $ | 0.00 | $ | 55,092,431.55 | |||||||||||||||||||
| Interest - Class A-4 Notes | $ | 385,846.67 | $ | 385,846.67 | $ | 0.00 | $ | 0.00 | $ | 54,706,584.88 | |||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 54,706,584.88 | |||||||||||||||||||
| Interest - Class B Notes | $ | 240,841.50 | $ | 240,841.50 | $ | 0.00 | $ | 0.00 | $ | 54,465,743.38 | |||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 54,465,743.38 | |||||||||||||||||||
| Interest - Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 54,465,743.38 | |||||||||||||||||||
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 54,465,743.38 | |||||||||||||||||||
| Regular Principal Payment | $ | 59,458,396.60 | $ | 54,465,743.38 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Residual Released to Depositor | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Total | $ | 61,281,160.53 | |||||||||||||||||||||||||||
| Principal Payment: | |||||||||||||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Regular Principal Payment | $ | 54,465,743.38 | |||||||||||||||||||||||||||
| Total | $ | 54,465,743.38 | |||||||||||||||||||||||||||
IV. NOTEHOLDER PAYMENTS
| Noteholder Principal Payments | Noteholder Interest Payments | Total Payment | |||||||||||||||||||||||||||||||||
| Per $1,000 of | Per $1,000 of | Per $1,000 of | |||||||||||||||||||||||||||||||||
| Actual | Original Balance | Actual | Original Balance | Actual | Original Balance | ||||||||||||||||||||||||||||||
| Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||||||
| Class A-2a Notes | $ | 26,955,687.03 | $ | 83.36 | $ | 1,157,445.25 | $ | 3.58 | $ | 28,113,132.28 | $ | 86.94 | |||||||||||||||||||||||
| Class A-2b Notes | $ | 27,510,056.35 | $ | 83.36 | $ | 1,004,145.18 | $ | 3.04 | $ | 28,514,201.53 | $ | 86.40 | |||||||||||||||||||||||
| Class A-3 Notes | $ | 0.00 | $ | 0.00 | $ | 2,776,525.00 | $ | 4.25 | $ | 2,776,525.00 | $ | 4.25 | |||||||||||||||||||||||
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 385,846.67 | $ | 4.13 | $ | 385,846.67 | $ | 4.13 | |||||||||||||||||||||||
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 240,841.50 | $ | 4.36 | $ | 240,841.50 | $ | 4.36 | |||||||||||||||||||||||
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||||||
| Total | $ | 54,465,743.38 | $ | 29.57 | $ | 5,564,803.60 | $ | 3.02 | $ | 60,030,546.98 | $ | 32.59 | |||||||||||||||||||||||
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Ford Credit Auto Owner Trust 2024-B
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 10 | ||||
V. NOTE BALANCE AND POOL INFORMATION
| Beginning of Period | End of Period | ||||||||||||||||||||||
| Balance | Note Factor | Balance | Note Factor | ||||||||||||||||||||
| Class A-1 Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 | |||||||||||||||||
| Class A-2a Notes | $ | 257,210,056.42 | 0.7954540 | $ | 230,254,369.39 | 0.7120902 | |||||||||||||||||
| Class A-2b Notes | $ | 262,499,825.64 | 0.7954540 | $ | 234,989,769.29 | 0.7120902 | |||||||||||||||||
| Class A-3 Notes | $ | 653,300,000.00 | 1.0000000 | $ | 653,300,000.00 | 1.0000000 | |||||||||||||||||
| Class A-4 Notes | $ | 93,350,000.00 | 1.0000000 | $ | 93,350,000.00 | 1.0000000 | |||||||||||||||||
| Class B Notes | $ | 55,260,000.00 | 1.0000000 | $ | 55,260,000.00 | 1.0000000 | |||||||||||||||||
| Class C Notes | $ | 36,830,000.00 | 1.0000000 | $ | 36,830,000.00 | 1.0000000 | |||||||||||||||||
| Total | $ | 1,358,449,882.06 | 0.7374503 | $ | 1,303,984,138.68 | 0.7078830 | |||||||||||||||||
| Pool Information | |||||||||||
| Weighted Average APR | 4.697 | % | 4.698 | % | |||||||
| Weighted Average Remaining Term | 50.02 | 49.22 | |||||||||
| Number of Receivables Outstanding | 45,050 | 44,076 | |||||||||
| Pool Balance | $ | 1,500,736,259.97 | $ | 1,444,185,970.34 | |||||||
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 1,387,951,241.86 | $ | 1,335,833,461.73 | |||||||
| Pool Factor | 0.7505638 | 0.7222813 | |||||||||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 4,605,247.03 | |||
| Yield Supplement Overcollateralization Amount | $ | 108,352,508.61 | |||
| Targeted Overcollateralization Amount | $ | 145,194,484.88 | |||
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 140,201,831.66 | |||
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 4,605,247.03 | |||
| Reserve Account Deposits Made | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Ending Reserve Account Balance | $ | 4,605,247.03 | |||
| Change in Reserve Account Balance | $ | 0.00 | |||
| Specified Reserve Balance | $ | 4,605,247.03 | |||
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Ford Credit Auto Owner Trust 2024-B
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 10 | ||||
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||||||||||||||
| Current Collection Period Loss: | |||||||||||||||||
| Realized Loss (Charge-Offs) | 102 | $ | 882,595.33 | ||||||||||||||
| (Recoveries) | 24 | $ | 47,306.66 | ||||||||||||||
| Net Loss for Current Collection Period | $ | 835,288.67 | |||||||||||||||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.6679 | % | |||||||||||||||
| Prior and Current Collection Periods Average Loss: | |||||||||||||||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||||||||||||||
| Third Prior Collection Period | 0.3177 | % | |||||||||||||||
| Second Prior Collection Period | 0.7007 | % | |||||||||||||||
| Prior Collection Period | 0.4937 | % | |||||||||||||||
| Current Collection Period | 0.6807 | % | |||||||||||||||
| Four Month Average (Current and Prior Three Collection Periods) | 0.5482 | % | |||||||||||||||
| Cumulative Loss: | |||||||||||||||||
| Cumulative Realized Loss (Charge-Offs) | 861 | $ | 4,362,719.08 | ||||||||||||||
| (Cumulative Recoveries) | $ | 121,292.79 | |||||||||||||||
| Cumulative Net Loss for All Collection Periods | $ | 4,241,426.29 | |||||||||||||||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.2121 | % | |||||||||||||||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 5,067.04 | |||||||||||||||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 4,926.16 | |||||||||||||||
| % of EOP Pool Balance | # of Receivables | Amount | |||||||||||||||
| Delinquent Receivables: | |||||||||||||||||
| 31-60 Days Delinquent | 0.75 | % | 261 | $ | 10,844,747.71 | ||||||||||||
| 61-90 Days Delinquent | 0.12 | % | 37 | $ | 1,682,230.70 | ||||||||||||
| 91-120 Days Delinquent | 0.02 | % | 6 | $ | 312,393.13 | ||||||||||||
| Over 120 Days Delinquent | 0.02 | % | 6 | $ | 281,247.60 | ||||||||||||
| Total Delinquent Receivables | 0.91 | % | 310 | $ | 13,120,619.14 | ||||||||||||
| Repossession Inventory: | |||||||||||||||||
| Repossessed in the Current Collection Period | 23 | $ | 1,035,150.56 | ||||||||||||||
| Total Repossessed Inventory | 35 | $ | 1,799,126.98 | ||||||||||||||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||||||||||||||
| Second Prior Collection Period | 0.1264 | % | |||||||||||||||
| Prior Collection Period | 0.1332 | % | |||||||||||||||
| Current Collection Period | 0.1112 | % | |||||||||||||||
| Three Month Average | 0.1236 | % | |||||||||||||||
| Delinquency Trigger (61+ Delinquent Receivables) | |||||||||||||||||
| Transaction Month | Trigger | ||||||||||||||||
| 1-12 | 0.80% | ||||||||||||||||
| 13-24 | 1.30% | ||||||||||||||||
| 25-36 | 2.40% | ||||||||||||||||
| 37+ | 4.75% | ||||||||||||||||
| 61+ Delinquent Receivables Balance to EOP Pool Balance | 0.1576 | % | |||||||||||||||
| Delinquency Trigger Occurred | No | ||||||||||||||||
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Ford Credit Auto Owner Trust 2024-B
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 10 | ||||
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount | ||||||||||||
| 1 Month Extended | 96 | $4,181,012.12 | ||||||||||||
| 2 Months Extended | 115 | $5,297,561.69 | ||||||||||||
| 3+ Months Extended | 26 | $1,037,353.90 | ||||||||||||
| Total Receivables Extended | 237 | $10,515,927.71 | ||||||||||||
IX. REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
| No Activity to report | ||
| Most Recent Form ABS-15G for repurchase demand activity | ||
| Filed by: Ford Motor Credit Company LLC | ||
| CIK#: 0000038009 | ||
| Date: February 7, 2025 | ||
X. FLOATING RATE BENCHMARK: BENCHMARK TRANSITION
| Benchmark Transition Event: | N/A | ||||
| Benchmark Replacement Date: | N/A | ||||
| Unadjusted Benchmark Replacement: | N/A | ||||
| Benchmark Replacement Adjustment: | N/A | ||||
| Benchmark Replacement Conforming Changes: | N/A | ||||
SERVICER CERTIFICATION
THIS REPORT IS ACCURATE IN ALL MATERIAL RESPECTS.
Ford Motor Credit Company LLC
/s/ Ryan M. Hershberger
Assistant Treasurer
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