Ford Credit Auto Owner Trust 2023-C
02/19/2026 | Press release | Distributed by Public on 02/19/2026 08:20
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | January 2026 | ||||
| Payment Date | 2/17/2026 | ||||
| Transaction Month | 27 | ||||
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 | $ | 1,443,380,079.18 | 40,320 | 55.8 months | |||||||||||||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | |||||||||||||||
| Original Securities | |||||||||||||||||
| Class A-1 Notes | $ | 265,000,000.00 | 5.590 | % | December 15, 2024 | ||||||||||||
| Class A-2a Notes | $ | 261,250,000.00 | 5.68 | % | September 15, 2026 | ||||||||||||
| Class A-2b Notes | $ | 200,000,000.00 | 4.25735 | % | * | September 15, 2026 | |||||||||||
| Class A-3 Notes | $ | 461,250,000.00 | 5.53 | % | September 15, 2028 | ||||||||||||
| Class A-4 Notes | $ | 62,500,000.00 | 5.49 | % | May 15, 2029 | ||||||||||||
| Class B Notes | $ | 39,480,000.00 | 5.93 | % | August 15, 2029 | ||||||||||||
| Class C Notes | $ | 26,300,000.00 | 6.37 | % | May 15, 2031 | ||||||||||||
| Total | $ | 1,315,780,000.00 | |||||||||||||||
| * 30-day average SOFR + 0.55% | |||||||||||||||||
II. AVAILABLE FUNDS
| Interest: | |||||
| Interest Collections | $ | 2,323,599.38 | |||
| Principal: | |||||
| Principal Collections | $ | 16,682,721.27 | |||
| Prepayments in Full | $ | 8,122,539.64 | |||
| Liquidation Proceeds | $ | 298,513.08 | |||
| Recoveries | $ | 66,282.90 | |||
| Sub Total | $ | 25,170,056.89 | |||
| Collections | $ | 27,493,656.27 | |||
| Purchase Amounts: | |||||
| Purchase Amounts Related to Principal | $ | 233,952.05 | |||
| Purchase Amounts Related to Interest | $ | 1,462.42 | |||
| Sub Total | $ | 235,414.47 | |||
| Clean-up Call | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Available Funds - Total | $ | 27,729,070.74 | |||
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Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | January 2026 | ||||
| Payment Date | 2/17/2026 | ||||
| Transaction Month | 27 | ||||
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 | $ | 27,729,070.74 | |||||||||||||||||||
| Servicing Fee | $ | 418,793.46 | $ | 418,793.46 | $ | 0.00 | $ | 0.00 | $ | 27,310,277.28 | |||||||||||||||||||
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 27,310,277.28 | |||||||||||||||||||
| Interest - Class A-2a Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 27,310,277.28 | |||||||||||||||||||
| Interest - Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 27,310,277.28 | |||||||||||||||||||
| Interest - Class A-3 Notes | $ | 1,409,478.71 | $ | 1,409,478.71 | $ | 0.00 | $ | 0.00 | $ | 25,900,798.57 | |||||||||||||||||||
| Interest - Class A-4 Notes | $ | 285,937.50 | $ | 285,937.50 | $ | 0.00 | $ | 0.00 | $ | 25,614,861.07 | |||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 25,614,861.07 | |||||||||||||||||||
| Interest - Class B Notes | $ | 195,097.00 | $ | 195,097.00 | $ | 0.00 | $ | 0.00 | $ | 25,419,764.07 | |||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 25,419,764.07 | |||||||||||||||||||
| Interest - Class C Notes | $ | 139,609.17 | $ | 139,609.17 | $ | 0.00 | $ | 0.00 | $ | 25,280,154.90 | |||||||||||||||||||
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 25,280,154.90 | |||||||||||||||||||
| Regular Principal Payment | $ | 23,204,637.27 | $ | 23,204,637.27 | $ | 0.00 | $ | 0.00 | $ | 2,075,517.63 | |||||||||||||||||||
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 2,075,517.63 | |||||||||||||||||||
| Residual Released to Depositor | $ | 0.00 | $ | 2,075,517.63 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Total | $ | 27,729,070.74 | |||||||||||||||||||||||||||
| Principal Payment: | |||||||||||||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Regular Principal Payment | $ | 23,204,637.27 | |||||||||||||||||||||||||||
| Total | $ | 23,204,637.27 | |||||||||||||||||||||||||||
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 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||||||
| Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||||||
| Class A-3 Notes | $ | 23,204,637.27 | $ | 50.31 | $ | 1,409,478.71 | $ | 3.06 | $ | 24,614,115.98 | $ | 53.37 | |||||||||||||||||||||||
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 285,937.50 | $ | 4.58 | $ | 285,937.50 | $ | 4.58 | |||||||||||||||||||||||
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 195,097.00 | $ | 4.94 | $ | 195,097.00 | $ | 4.94 | |||||||||||||||||||||||
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 139,609.17 | $ | 5.31 | $ | 139,609.17 | $ | 5.31 | |||||||||||||||||||||||
| Total | $ | 23,204,637.27 | $ | 17.64 | $ | 2,030,122.38 | $ | 1.54 | $ | 25,234,759.65 | $ | 19.18 | |||||||||||||||||||||||
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Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | January 2026 | ||||
| Payment Date | 2/17/2026 | ||||
| Transaction Month | 27 | ||||
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 | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 | |||||||||||||||||
| Class A-2b Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 | |||||||||||||||||
| Class A-3 Notes | $ | 305,854,332.09 | 0.6630988 | $ | 282,649,694.82 | 0.6127907 | |||||||||||||||||
| Class A-4 Notes | $ | 62,500,000.00 | 1.0000000 | $ | 62,500,000.00 | 1.0000000 | |||||||||||||||||
| Class B Notes | $ | 39,480,000.00 | 1.0000000 | $ | 39,480,000.00 | 1.0000000 | |||||||||||||||||
| Class C Notes | $ | 26,300,000.00 | 1.0000000 | $ | 26,300,000.00 | 1.0000000 | |||||||||||||||||
| Total | $ | 434,134,332.09 | 0.3299445 | $ | 410,929,694.82 | 0.3123088 | |||||||||||||||||
| Pool Information | |||||||||||
| Weighted Average APR | 5.521 | % | 5.560 | % | |||||||
| Weighted Average Remaining Term | 36.69 | 36.04 | |||||||||
| Number of Receivables Outstanding | 22,090 | 21,462 | |||||||||
| Pool Balance | $ | 502,552,152.37 | $ | 476,787,694.66 | |||||||
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 464,698,906.99 | $ | 441,107,802.85 | |||||||
| Pool Factor | 0.3481773 | 0.3303272 | |||||||||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,289,470.37 | |||
| Yield Supplement Overcollateralization Amount | $ | 35,679,891.81 | |||
| Targeted Overcollateralization Amount | $ | 65,857,999.84 | |||
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 65,857,999.84 | |||
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 3,289,470.37 | |||
| Reserve Account Deposits Made | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Ending Reserve Account Balance | $ | 3,289,470.37 | |||
| Change in Reserve Account Balance | $ | 0.00 | |||
| Specified Reserve Balance | $ | 3,289,470.37 | |||
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Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | January 2026 | ||||
| Payment Date | 2/17/2026 | ||||
| Transaction Month | 27 | ||||
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||||||||||||||
| Current Collection Period Loss: | |||||||||||||||||
| Realized Loss (Charge-Offs) | 76 | $ | 426,731.67 | ||||||||||||||
| (Recoveries) | 61 | $ | 66,282.90 | ||||||||||||||
| Net Loss for Current Collection Period | $ | 360,448.77 | |||||||||||||||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.8607 | % | |||||||||||||||
| Prior and Current Collection Periods Average Loss: | |||||||||||||||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||||||||||||||
| Third Prior Collection Period | 1.0862 | % | |||||||||||||||
| Second Prior Collection Period | 0.3481 | % | |||||||||||||||
| Prior Collection Period | 0.8585 | % | |||||||||||||||
| Current Collection Period | 0.8833 | % | |||||||||||||||
| Four Month Average (Current and Prior Three Collection Periods) | 0.7940 | % | |||||||||||||||
| Cumulative Loss: | |||||||||||||||||
| Cumulative Realized Loss (Charge-Offs) | 1,839 | $ | 9,895,650.36 | ||||||||||||||
| (Cumulative Recoveries) | $ | 1,272,450.06 | |||||||||||||||
| Cumulative Net Loss for All Collection Periods | $ | 8,623,200.30 | |||||||||||||||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.5974 | % | |||||||||||||||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 5,381.00 | |||||||||||||||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 4,689.07 | |||||||||||||||
| % of EOP Pool Balance | # of Receivables | Amount | |||||||||||||||
| Delinquent Receivables: | |||||||||||||||||
| 31-60 Days Delinquent | 1.48 | % | 204 | $ | 7,047,023.13 | ||||||||||||
| 61-90 Days Delinquent | 0.28 | % | 36 | $ | 1,314,868.43 | ||||||||||||
| 91-120 Days Delinquent | 0.04 | % | 6 | $ | 196,593.37 | ||||||||||||
| Over 120 Days Delinquent | 0.12 | % | 16 | $ | 570,605.00 | ||||||||||||
| Total Delinquent Receivables | 1.91 | % | 262 | $ | 9,129,089.93 | ||||||||||||
| Repossession Inventory: | |||||||||||||||||
| Repossessed in the Current Collection Period | 16 | $ | 475,763.17 | ||||||||||||||
| Total Repossessed Inventory | 29 | $ | 1,034,231.28 | ||||||||||||||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||||||||||||||
| Second Prior Collection Period | 0.2848 | % | |||||||||||||||
| Prior Collection Period | 0.2807 | % | |||||||||||||||
| Current Collection Period | 0.2702 | % | |||||||||||||||
| Three Month Average | 0.2786 | % | |||||||||||||||
| Delinquency Trigger (61+ Delinquent Receivables) | |||||||||||||||||
| Transaction Month | Trigger | ||||||||||||||||
| 1-12 | 0.80% | ||||||||||||||||
| 13-24 | 1.50% | ||||||||||||||||
| 25-36 | 2.60% | ||||||||||||||||
| 37+ | 4.40% | ||||||||||||||||
| 61+ Delinquent Receivables Balance to EOP Pool Balance | 0.4367 | % | |||||||||||||||
| Delinquency Trigger Occurred | No | ||||||||||||||||
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Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | January 2026 | ||||
| Payment Date | 2/17/2026 | ||||
| Transaction Month | 27 | ||||
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount | ||||||||||||
| 1 Month Extended | 82 | $2,831,115.39 | ||||||||||||
| 2 Months Extended | 104 | $3,570,634.78 | ||||||||||||
| 3+ Months Extended | 31 | $1,044,071.20 | ||||||||||||
| Total Receivables Extended | 217 | $7,445,821.37 | ||||||||||||
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 6, 2026 | ||
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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Ford Credit Auto Owner Trust 2023-C published this content on February 19, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on February 19, 2026 at 14:20 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]