Capital One Prime Auto Receivables Trust 2024-1
04/15/2025 | Press release | Distributed by Public on 04/15/2025 12:08
Asset-Backed Issuer Distribution Report (Form 10-D)
CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2024-1
Statement to Securityholders
Determination Date: April 10, 2025
| Payment Date | 4/15/2025 | ||||
| Collection Period Start | 3/1/2025 | ||||
| Collection Period End | 3/31/2025 | ||||
| Interest Period Start | 3/17/2025 | ||||
| Interest Period End | 4/14/2025 | ||||
| Cut-Off Date Net Pool Balance | $ | 1,116,124,822.45 | |||
| Cut-Off Date Adjusted Pool Balance | $ | 1,085,195,990.01 | |||
I. DEAL SUMMARY
|
Beginning Note Balance |
Principal Payment | Ending Note Balance | Note Factor | Final Scheduled Payment Date | |||||||||||||
| Class A-1 Notes | $ | 21,127,374.46 | $ | 21,127,374.46 | $ | - | - | Dec-25 | |||||||||
| Class A-2a Notes | $ | 314,800,000.00 | $ | 11,861,761.60 | $ | 302,938,238.40 | 0.962320 | Oct-27 | |||||||||
| Class A-2b Notes | $ | 78,800,000.00 | $ | 2,969,208.43 | $ | 75,830,791.57 | 0.962320 | Oct-27 | |||||||||
| Class A-3 Notes | $ | 393,600,000.00 | $ | - | $ | 393,600,000.00 | 1.000000 | Jul-29 | |||||||||
| Class A-4 Notes | $ | 65,440,000.00 | $ | - | $ | 65,440,000.00 | 1.000000 | Jan-30 | |||||||||
| Class B Notes | $ | 10,850,000.00 | $ | - | $ | 10,850,000.00 | 1.000000 | Feb-30 | |||||||||
| Class C Notes | $ | 10,850,000.00 | $ | - | $ | 10,850,000.00 | 1.000000 | Apr-30 | |||||||||
| Class D Notes | $ | 10,850,000.00 | $ | - | $ | 10,850,000.00 | 1.000000 | Jan-31 | |||||||||
| Total Notes | $ | 906,317,374.46 | $ | 35,958,344.49 | $ | 870,359,029.97 | |||||||||||
| Beginning Balance | Ending Balance | Pool Factor | |||||||||||||||
| Net Pool Balance | $ | 935,118,906.17 | $ | 898,232,863.33 | 0.804778 | ||||||||||||
| YSOC Amount | $ | 26,088,541.73 | $ | 25,160,843.38 | |||||||||||||
| Adjusted Pool Balance | $ | 909,030,364.44 | $ | 873,072,019.95 | |||||||||||||
| Overcollateralization Amount (Adjusted Pool Balance - Note Balance) | $ | 2,712,989.98 | $ | 2,712,989.98 | |||||||||||||
| Reserve Account Balance | $ | 2,712,989.98 | $ | 2,712,989.98 | |||||||||||||
|
Beginning Note Balance |
Interest Rate | Accrual Methodology | Interest Payment | ||||||||||||||
| Class A-1 Notes | $ | 21,127,374.46 | 4.62200% | ACT/360 | $ | 78,663.08 | |||||||||||
| Class A-2a Notes | $ | 314,800,000.00 | 4.61000% | 30/360 | $ | 1,209,356.67 | |||||||||||
| Class A-2b Notes | $ | 78,800,000.00 | 4.66867% | ACT/360 | $ | 296,356.80 | |||||||||||
| Class A-3 Notes | $ | 393,600,000.00 | 4.62000% | 30/360 | $ | 1,515,360.00 | |||||||||||
| Class A-4 Notes | $ | 65,440,000.00 | 4.66000% | 30/360 | $ | 254,125.33 | |||||||||||
| Class B Notes | $ | 10,850,000.00 | 4.89000% | 30/360 | $ | 44,213.75 | |||||||||||
| Class C Notes | $ | 10,850,000.00 | 5.09000% | 30/360 | $ | 46,022.08 | |||||||||||
| Class D Notes | $ | 10,850,000.00 | 5.43000% | 30/360 | $ | 49,096.25 | |||||||||||
| Total Notes | $ | 906,317,374.46 | $ | 3,493,193.96 | |||||||||||||
II. COLLATERAL POOL BALANCE
| Beginning of Period | End of Period | |||||||
| Net Pool Balance | $ | 935,118,906.17 | $ | 898,232,863.33 | ||||
| Adjusted Pool Balance (Net Pool Balance - YSOC Amount) | $ | 909,030,364.44 | $ | 873,072,019.95 | ||||
| Number of Receivables Outstanding | 45,303 | 44,318 | ||||||
| Weighted Average Contract Rate | 7.56 | % | 7.56 | % | ||||
| Weighted Average Remaining Term (months) | 51.6 | 50.7 | ||||||
III. FUNDS AVAILABLE FOR DISTRIBUTION
| Available Funds: | |||||
| a. Collections | |||||
| Interest Collections | $ | 5,524,126.90 | |||
| Principal Collections | $ | 36,612,669.52 | |||
| Liquidation Proceeds | $ | 136,704.30 | |||
| b. Repurchase Price | $ | - | |||
| c. Optional Purchase Price | $ | - | |||
| d. Reserve Account Excess Amount | $ | - | |||
| Total Available Funds | $ | 42,273,500.72 | |||
| Reserve Account Draw Amount | $ | - | |||
| Total Funds Available for Distribution | $ | 42,273,500.72 | |||
IV. DISTRIBUTION
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | |||||||||||||
| Servicing Fee | $ | 779,265.76 | $ | 779,265.76 | $ | - | $ | - | $ | 41,494,234.96 | |||||||
| Interest - Class A-1 Notes | $ | 78,663.08 | $ | 78,663.08 | $ | - | $ | - | $ | 41,415,571.88 | |||||||
| Interest - Class A-2a Notes | $ | 1,209,356.67 | $ | 1,209,356.67 | $ | - | $ | - | $ | 40,206,215.21 | |||||||
| Interest - Class A-2b Notes | $ | 296,356.80 | $ | 296,356.80 | $ | - | $ | - | $ | 39,909,858.41 | |||||||
| Interest - Class A-3 Notes | $ | 1,515,360.00 | $ | 1,515,360.00 | $ | - | $ | - | $ | 38,394,498.41 | |||||||
| Interest - Class A-4 Notes | $ | 254,125.33 | $ | 254,125.33 | $ | - | $ | - | $ | 38,140,373.08 | |||||||
| First Allocation of Principal | $ | 695,354.51 | $ | 695,354.51 | $ | - | $ | - | $ | 37,445,018.57 | |||||||
| Interest - Class B Notes | $ | 44,213.75 | $ | 44,213.75 | $ | - | $ | - | $ | 37,400,804.82 | |||||||
| Second Allocation of Principal | $ | 10,850,000.00 | $ | 10,850,000.00 | $ | - | $ | - | $ | 26,550,804.82 | |||||||
| Interest - Class C Notes | $ | 46,022.08 | $ | 46,022.08 | $ | - | $ | - | $ | 26,504,782.74 | |||||||
| Third Allocation of Principal | $ | 10,850,000.00 | $ | 10,850,000.00 | $ | - | $ | - | $ | 15,654,782.74 | |||||||
| Interest - Class D Notes | $ | 49,096.25 | $ | 49,096.25 | $ | - | $ | - | $ | 15,605,686.49 | |||||||
| Fourth Allocation of Principal | $ | 10,850,000.00 | $ | 10,850,000.00 | $ | - | $ | - | $ | 4,755,686.49 | |||||||
| Reserve Account Deposit Amount | $ | - | $ | - | $ | - | $ | - | $ | 4,755,686.49 | |||||||
| Regular Principal Distribution Amount | $ | 2,712,989.98 | $ | 2,712,989.98 | $ | - | $ | - | $ | 2,042,696.51 | |||||||
| Owner Trustee, Indenture Trustee, and ARR Fees & Expenses | $ | - | $ | - | $ | - | $ | - | $ | 2,042,696.51 | |||||||
| Remaining Funds to Certificates | $ | 2,042,696.51 | $ | 2,042,696.51 | $ | - | $ | - | $ | - | |||||||
| Total | $ | 42,273,500.72 | $ | 42,273,500.72 | $ | - | $ | - | |||||||||
V. OVERCOLLATERALIZATION INFORMATION
| Yield Supplement Overcollateralization Amount: | |||||
| Beginning Period YSOC Amount | $ | 26,088,541.73 | |||
| Increase/(Decrease) | $ | (927,698.35) | |||
| Ending YSOC Amount | $ | 25,160,843.38 | |||
| Overcollateralization: | Beginning of Period | End of Period | ||||||
| Adjusted Pool Balance | $ | 909,030,364.44 | $ | 873,072,019.95 | ||||
| Note Balance | $ | 906,317,374.46 | $ | 870,359,029.97 | ||||
| Overcollateralization (Adjusted Pool Balance - Note Balance) | $ | 2,712,989.98 | $ | 2,712,989.98 | ||||
| Target Overcollateralization Amount | $ | 2,712,989.98 | $ | 2,712,989.98 | ||||
| Overcollateralization Shortfall | $ | - | $ | - | ||||
VI. RESERVE ACCOUNT
| Specified Reserve Account Balance | $ | 2,712,989.98 | |||
| Beginning Reserve Account Balance | $ | 2,712,989.98 | |||
| Reserve Account Deposit Amount | $ | - | |||
| Reserve Account Draw Amount | $ | - | |||
| Reserve Account Excess Amount | $ | - | |||
| Ending Reserve Account Balance | $ | 2,712,989.98 | |||
VII. NET LOSS AND DELINQUENT RECEIVABLES
| Net Loss: | % of EOP Net Pool Balance | # of Receivables | Amount | ||||||||
| Defaulted Receivables during Collection Period (Principal Balance) | 0.03% | 23 | $ | 273,373.32 | |||||||
|
Liquidation Proceeds of Defaulted Receivables1
|
0.02% | 58 | $ | 136,704.30 | |||||||
| Monthly Net Losses (Liquidation Proceeds) | $ | 136,669.02 | |||||||||
| Net Losses as % of Average Pool Balance (annualized) | |||||||||||
| Third Preceding Collection Period | 0.17 | % | |||||||||
| Second Preceding Collection Period | 0.25 | % | |||||||||
| Preceding Collection Period | 0.33 | % | |||||||||
| Current Collection Period | 0.18 | % | |||||||||
| Four-Month Average Net Loss Ratio | 0.23 | % | |||||||||
| Cumulative Net Losses for All Periods | $ | 944,848.64 | |||||||||
| Cumulative Net Loss Ratio | 0.08 | % | |||||||||
|
1 Liquidation Proceeds include all proceeds on a receivable after it has been charged-off.
|
|||||||||||
| Delinquent Receivables: | % of EOP Net Pool Balance | # of Receivables | Principal Balance | ||||||||
| 30-59 Days Delinquent | 0.06% | 27 | $ | 582,505.83 | |||||||
| 60-89 Days Delinquent | 0.01% | 2 | $ | 60,278.33 | |||||||
| 90-119 Days Delinquent | 0.00% | 1 | $ | 27,028.78 | |||||||
| 120+ Days Delinquent | 0.00% | 0 | $ | - | |||||||
| Total Delinquent Receivables | 0.07% | 30 | $ | 669,812.94 | |||||||
| Repossession Inventory: | # of Receivables | Principal Balance | |||||||||
| Repossessed in the Current Collection Period | 5 | $ | 192,417.91 | ||||||||
| Total Repossessed Inventory | 11 | $ | 303,888.49 | ||||||||
| 60+ Delinquency Percentage: | # of Receivables | Amount | |||||||||
| 60+ Day Delinquent Receivables | 3 | $ | 87,307.11 | ||||||||
| 60+ Delinquencies as % of EOP Net Pool Balance | |||||||||||
| Third Preceding Collection Period | 0.01 | % | |||||||||
| Second Preceding Collection Period | 0.03 | % | |||||||||
| Preceding Collection Period | 0.01 | % | |||||||||
| Current Collection Period | 0.01 | % | |||||||||
| Delinquency Trigger | 4.50 | % | |||||||||
| Current Delinquency Percentage Exceeds Delinquency Trigger? (Yes/No) | No | ||||||||||
VIII. TEMPORARY FORBEARANCE
The table below presents accounts which received a short-term payment extension in the month of March 2025.
| Month-End Balance | # of Receivables | |||||||||||||
| ($MM) | (%) | (#) | (%) | |||||||||||
| Total Extensions | 0.32 | 0.04% | 13 | 0.03% | ||||||||||
Capital One Prime Auto Receivables Trust 2024-1 published this content on April 15, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on April 15, 2025 at 18:08 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]