Ford Credit Auto Owner Trust 2023-A
05/21/2025 | Press release | Distributed by Public on 05/21/2025 07:31
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | April 2025 | ||||
| Payment Date | 5/15/2025 | ||||
| Transaction Month | 26 | ||||
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 | $1,732,167,317.56 | 48,752 | 57.8 months | ||||||||||||||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | |||||||||||||||
| Original Securities | |||||||||||||||||
| Class A-1 Notes | $ | 300,000,000.00 | 5.028 | % | April 15, 2024 | ||||||||||||
| Class A-2a Notes | $ | 359,000,000.00 | 5.14 | % | March 15, 2026 | ||||||||||||
| Class A-2b Notes | $ | 235,000,000.00 | 5.06471 | % | * | March 15, 2026 | |||||||||||
| Class A-3 Notes | $ | 510,000,000.00 | 4.65 | % | February 15, 2028 | ||||||||||||
| Class A-4 Notes | $ | 96,000,000.00 | 4.56 | % | December 15, 2028 | ||||||||||||
| Class B Notes | $ | 47,330,000.00 | 5.07 | % | January 15, 2029 | ||||||||||||
| Class C Notes | $ | 31,610,000.00 | 5.51 | % | September 15, 2030 | ||||||||||||
| Total | $ | 1,578,940,000.00 | |||||||||||||||
| * 30-day average SOFR + 0.72% | |||||||||||||||||
II. AVAILABLE FUNDS
| Interest: | |||||
| Interest Collections | $ | 2,872,116.91 | |||
| Principal: | |||||
| Principal Collections | $ | 20,689,842.06 | |||
| Prepayments in Full | $ | 10,673,540.40 | |||
| Liquidation Proceeds | $ | 266,521.24 | |||
| Recoveries | $ | 121,859.05 | |||
| Sub Total | $ | 31,751,762.75 | |||
| Collections | $ | 34,623,879.66 | |||
| Purchase Amounts: | |||||
| Purchase Amounts Related to Principal | $ | 205,525.40 | |||
| Purchase Amounts Related to Interest | $ | 1,110.81 | |||
| Sub Total | $ | 206,636.21 | |||
| Clean-up Call | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Available Funds - Total | $34,830,515.87 | ||||
Page 1
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | April 2025 | ||||
| Payment Date | 5/15/2025 | ||||
| Transaction Month | 26 | ||||
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 | $ | 34,830,515.87 | |||||||||||||||||||
| Servicing Fee | $ | 557,868.88 | $ | 557,868.88 | $ | 0.00 | $ | 0.00 | $ | 34,272,646.99 | |||||||||||||||||||
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 34,272,646.99 | |||||||||||||||||||
| Interest - Class A-2a Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 34,272,646.99 | |||||||||||||||||||
| Interest - Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 34,272,646.99 | |||||||||||||||||||
| Interest - Class A-3 Notes | $ | 1,572,400.29 | $ | 1,572,400.29 | $ | 0.00 | $ | 0.00 | $ | 32,700,246.70 | |||||||||||||||||||
| Interest - Class A-4 Notes | $ | 364,800.00 | $ | 364,800.00 | $ | 0.00 | $ | 0.00 | $ | 32,335,446.70 | |||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 32,335,446.70 | |||||||||||||||||||
| Interest - Class B Notes | $ | 199,969.25 | $ | 199,969.25 | $ | 0.00 | $ | 0.00 | $ | 32,135,477.45 | |||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 32,135,477.45 | |||||||||||||||||||
| Interest - Class C Notes | $ | 145,142.58 | $ | 145,142.58 | $ | 0.00 | $ | 0.00 | $ | 31,990,334.87 | |||||||||||||||||||
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 31,990,334.87 | |||||||||||||||||||
| Regular Principal Payment | $ | 28,907,252.57 | $ | 28,907,252.57 | $ | 0.00 | $ | 0.00 | $ | 3,083,082.30 | |||||||||||||||||||
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 3,083,082.30 | |||||||||||||||||||
| Residual Released to Depositor | $ | 0.00 | $ | 3,083,082.30 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Total | $ | 34,830,515.87 | |||||||||||||||||||||||||||
| Principal Payment: | |||||||||||||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Regular Principal Payment | $ | 28,907,252.57 | |||||||||||||||||||||||||||
| Total | $ | 28,907,252.57 | |||||||||||||||||||||||||||
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 | $ | 28,907,252.57 | $ | 56.68 | $ | 1,572,400.29 | $ | 3.08 | $ | 30,479,652.86 | $ | 59.76 | |||||||||||||||||||||||
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 364,800.00 | $ | 3.80 | $ | 364,800.00 | $ | 3.80 | |||||||||||||||||||||||
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 199,969.25 | $ | 4.23 | $ | 199,969.25 | $ | 4.23 | |||||||||||||||||||||||
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 145,142.58 | $ | 4.59 | $ | 145,142.58 | $ | 4.59 | |||||||||||||||||||||||
| Total | $ | 28,907,252.57 | $ | 18.31 | $ | 2,282,312.12 | $ | 1.45 | $ | 31,189,564.69 | $ | 19.76 | |||||||||||||||||||||||
Page 2
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | April 2025 | ||||
| Payment Date | 5/15/2025 | ||||
| Transaction Month | 26 | ||||
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 | $ | 405,780,721.06 | 0.7956485 | $ | 376,873,468.49 | 0.7389676 | |||||||||||||||||
| Class A-4 Notes | $ | 96,000,000.00 | 1.0000000 | $ | 96,000,000.00 | 1.0000000 | |||||||||||||||||
| Class B Notes | $ | 47,330,000.00 | 1.0000000 | $ | 47,330,000.00 | 1.0000000 | |||||||||||||||||
| Class C Notes | $ | 31,610,000.00 | 1.0000000 | $ | 31,610,000.00 | 1.0000000 | |||||||||||||||||
| Total | $ | 580,720,721.06 | 0.3677915 | $ | 551,813,468.49 | 0.3494835 | |||||||||||||||||
| Pool Information | |||||||||||
| Weighted Average APR | 5.179 | % | 5.208 | % | |||||||
| Weighted Average Remaining Term | 38.50 | 37.76 | |||||||||
| Number of Receivables Outstanding | 28,183 | 27,442 | |||||||||
| Pool Balance | $ | 669,442,652.46 | $ | 637,277,959.70 | |||||||
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 618,393,947.22 | $ | 589,004,224.26 | |||||||
| Pool Factor | 0.3864769 | 0.3679079 | |||||||||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,947,369.48 | |||
| Yield Supplement Overcollateralization Amount | $ | 48,273,735.44 | |||
| Targeted Overcollateralization Amount | $ | 85,464,491.21 | |||
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 85,464,491.21 | |||
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 3,947,369.48 | |||
| Reserve Account Deposits Made | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Ending Reserve Account Balance | $ | 3,947,369.48 | |||
| Change in Reserve Account Balance | $ | 0.00 | |||
| Specified Reserve Balance | $ | 3,947,369.48 | |||
Page 3
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | April 2025 | ||||
| Payment Date | 5/15/2025 | ||||
| Transaction Month | 26 | ||||
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||||||||||||||
| Current Collection Period Loss: | |||||||||||||||||
| Realized Loss (Charge-Offs) | 72 | $ | 329,263.66 | ||||||||||||||
| (Recoveries) | 71 | $ | 121,859.05 | ||||||||||||||
| Net Loss for Current Collection Period | $ | 207,404.61 | |||||||||||||||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.3718 | % | |||||||||||||||
| Prior and Current Collection Periods Average Loss: | |||||||||||||||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||||||||||||||
| Third Prior Collection Period | 0.7396 | % | |||||||||||||||
| Second Prior Collection Period | 0.7505 | % | |||||||||||||||
| Prior Collection Period | 0.9785 | % | |||||||||||||||
| Current Collection Period | 0.3809 | % | |||||||||||||||
| Four Month Average (Current and Prior Three Collection Periods) | 0.7124 | % | |||||||||||||||
| Cumulative Loss: | |||||||||||||||||
| Cumulative Realized Loss (Charge-Offs) | 1,976 | $ | 11,783,159.93 | ||||||||||||||
| (Cumulative Recoveries) | $ | 1,570,935.65 | |||||||||||||||
| Cumulative Net Loss for All Collection Periods | $ | 10,212,224.28 | |||||||||||||||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.5896 | % | |||||||||||||||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 5,963.14 | |||||||||||||||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 5,168.13 | |||||||||||||||
| % of EOP Pool Balance | # of Receivables | Amount | |||||||||||||||
| Delinquent Receivables: | |||||||||||||||||
| 31-60 Days Delinquent | 1.31 | % | 262 | $ | 8,372,345.79 | ||||||||||||
| 61-90 Days Delinquent | 0.17 | % | 34 | $ | 1,091,166.51 | ||||||||||||
| 91-120 Days Delinquent | 0.05 | % | 7 | $ | 310,137.50 | ||||||||||||
| Over 120 Days Delinquent | 0.10 | % | 16 | $ | 653,801.65 | ||||||||||||
| Total Delinquent Receivables | 1.64 | % | 319 | $ | 10,427,451.45 | ||||||||||||
| Repossession Inventory: | |||||||||||||||||
| Repossessed in the Current Collection Period | 17 | $ | 715,444.31 | ||||||||||||||
| Total Repossessed Inventory | 27 | $ | 1,119,068.82 | ||||||||||||||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||||||||||||||
| Second Prior Collection Period | 0.1972 | % | |||||||||||||||
| Prior Collection Period | 0.1881 | % | |||||||||||||||
| Current Collection Period | 0.2077 | % | |||||||||||||||
| Three Month Average | 0.1976 | % | |||||||||||||||
| 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 | 0.3225 | % | |||||||||||||||
| Delinquency Trigger Occurred | No | ||||||||||||||||
Page 4
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | April 2025 | ||||
| Payment Date | 5/15/2025 | ||||
| Transaction Month | 26 | ||||
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount | ||||||||||||
| 1 Month Extended | 100 | $3,534,147.69 | ||||||||||||
| 2 Months Extended | 118 | $3,949,861.68 | ||||||||||||
| 3+ Months Extended | 25 | $959,038.51 | ||||||||||||
| Total Receivables Extended | 243 | $8,443,047.88 | ||||||||||||
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
Page 5
Ford Credit Auto Owner Trust 2023-A published this content on May 21, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on May 21, 2025 at 13:32 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]