Toyota Auto Receivables 2023-C Owner Trust
10/29/2025 | Press release | Distributed by Public on 10/29/2025 08:57
Asset-Backed Issuer Distribution Report (Form 10-D)
Servicer's Certificate
for the Collection Period September 01, 2025 through September 30, 2025
for Payment Date of October 15, 2025
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
30 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
30 |
Actual/360 Days |
30 |
| Class |
Initial Principal Balance |
Final Scheduled Payment Date |
Beginning Principal Balance |
Beginning Principal Factor |
First Priority Principal Distribution Amount |
Second Priority Principal Distribution Amount |
Regular Principal Distribution Amount |
Ending Principal Balance |
Ending Principal Factor |
|||||||||||||||||||||||||||
| A-1 | $305,000,000.00 | 8/15/24 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2a | $405,026,000.00 | 8/17/26 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2b | $189,474,000.00 | 8/17/26 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-3 | $527,500,000.00 | 4/17/28 | $419,356,758.65 | 0.7949891 | $0.00 | $17,355,845.07 | $13,600,053.41 | $388,400,860.17 | 0.7363049 | |||||||||||||||||||||||||||
| A-4 | $133,000,000.00 | 2/15/29 | $133,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $133,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| B | $40,000,000.00 | 3/15/30 | $40,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $40,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| Total | $1,600,000,000.00 | $592,356,758.65 | $0.00 | $17,355,845.07 | $13,600,053.41 | $561,400,860.17 | 0.3508755 | |||||||||||||||||||||||||||||
| Class | Interest Rate |
Interest Distributable Amount |
Prior Interest Carryover |
Interest Distribution Amount |
Current Interest Carryover |
Total Principal & Interest Distribution |
||||||||||||||||||||
| A-1 | 5.60400% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2a | 5.60000% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2b | 4.77208% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-3 | 5.16000% | $1,803,234.06 | $0.00 | $1,803,234.06 | $0.00 | $32,759,132.54 | ||||||||||||||||||||
| A-4 | 5.01000% | $555,275.00 | $0.00 | $555,275.00 | $0.00 | $555,275.00 | ||||||||||||||||||||
| B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||
| Total | $2,358,509.06 | $0.00 | $2,358,509.06 | $0.00 | $33,314,407.54 | |||||||||||||||||||||
Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
|
Initial Deposit Amount |
$4,000,015.71 |
Beginning Period Amount |
$38,644,977.89 | |||||||
|
Specified Reserve Account Amount |
$4,000,015.71 |
Increase/(Decrease) |
$(3,031,465.24 | ) | ||||||
|
Beginning Balance |
$4,000,015.71 |
Ending Period Amount |
$35,613,512.65 | |||||||
|
Withdrawals |
$0.00 | |||||||||
|
Amount Available for Deposit |
$16,191,360.50 | Overcollateralization | ||||||||
|
Amount Deposited to the Reserve Account |
$0.00 | |||||||||
|
Reserve Account Balance Prior to Release |
$4,000,015.71 |
Adjusted Pool Balance |
$575,000,913.58 | |||||||
|
Reserve Account Required Amount |
$4,000,015.71 |
Total Note Balance |
$561,400,860.17 | |||||||
|
Reserve Account Release to Seller |
$0.00 |
Ending Overcollateralization Amount |
$13,600,053.41 | |||||||
|
Ending Reserve Account Balance |
$4,000,015.71 |
Overcollateralization Target Amount |
$13,600,053.41 | |||||||
Page 1 of 5
Servicer's Certificate
for the Collection Period September 01, 2025 through September 30, 2025
for Payment Date of October 15, 2025
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
30 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
30 |
Actual/360 Days |
30 |
Liquidations of Charge-offs and Repossessions
| Cumulative | ||||||||||||||||||||
| Current Period Only | Current Period | Prior Period | Two Periods Prior | Three Periods Prior | ||||||||||||||||
|
Number of Liquidated Receivables |
22 | 801 | 779 | 755 | 732 | |||||||||||||||
|
Gross Principal of Liquidated Receivables |
$583,119.98 | $21,139,339.18 | $20,556,219.20 | $19,949,110.64 | $19,494,641.56 | |||||||||||||||
|
Principal of Repurchased Contracts, previously charged-off |
$0.00 | $(106,587.98 | ) | $(106,587.98 | ) | $(106,587.98 | ) | $(106,587.98 | ) | |||||||||||
|
Net Liquidation Proceeds Received During the Collection Period |
$(106,992.41 | ) | $(2,233,003.79 | ) | $(2,126,011.38 | ) | $(2,054,315.93 | ) | $(1,987,990.47 | ) | ||||||||||
|
Recoveries on Previously Liquidated Contracts |
$(282,725.25 | ) | $(9,609,033.86 | ) | $(9,326,308.61 | ) | $(8,927,443.99 | ) | $(8,480,845.00 | ) | ||||||||||
|
Net Credit Losses |
$193,402.32 | $9,190,713.55 | $8,997,311.23 | $8,860,762.74 | $8,919,218.11 | |||||||||||||||
|
Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
1.21851% | 1.18504% | 1.14853% | 1.11355% | ||||||||||||||||
|
Number of Accounts with Liquidation Proceeds or Recoveries |
769 | 748 | 724 | 700 | ||||||||||||||||
|
Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.81218% | 0.78125% | 0.75608% | 0.74793% | ||||||||||||||||
|
Number of Assets Experiencing a Net Loss |
718 | 702 | 681 | 666 | ||||||||||||||||
|
Net Credit Losses for Assets Experiencing a Loss |
$9,227,193.74 | $9,027,387.22 | $8,888,818.30 | $8,945,627.99 | ||||||||||||||||
|
Average Net Loss on all assets that have Experienced a Net Loss |
$12,851.24 | $12,859.53 | $13,052.60 | $13,431.87 | ||||||||||||||||
|
Cumulative Net Loss Ratio |
0.51585% | 0.50499% | 0.49733% | 0.50061% | ||||||||||||||||
|
Repossessed in Current Period |
9 vehicles | |||||||||||||||||||
Pool Data
| Original | Prior Month | Current Month | ||||||||||||||
|
Receivables Pool Balance |
$1,781,678,265.26 | $644,601,789.95 | $610,614,426.23 | |||||||||||||
|
Number of Contracts |
65,736 | 41,456 | 40,483 | |||||||||||||
|
Weighted Average APR |
4.64% | 4.82% | 4.83% | |||||||||||||
|
Weighted Average Remaining Term (Months) |
55.40 | 31.97 | 31.12 | |||||||||||||
Page 2 of 5
Servicer's Certificate
for the Collection Period September 01, 2025 through September 30, 2025
for Payment Date of October 15, 2025
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
30 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
30 |
Actual/360 Days |
30 |
Collections
|
Principal Payments Received |
$23,179,325.46 | |||
|
Prepayments in Full |
$10,224,918.28 | |||
|
Interest Payments Received |
$2,648,921.39 | |||
|
Aggregate Net Liquidation Proceeds |
$389,717.66 | |||
|
Interest on Repurchased Contracts |
$0.00 | |||
|
Total Collections |
$36,442,882.79 | |||
|
Principal of Repurchased Contracts |
$0.00 | |||
|
Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
|
Adjustment on Repurchased Contracts |
$0.00 | |||
|
Total Repurchased Amount |
$0.00 | |||
|
Total Available Collections |
$36,442,882.79 |
Distributions
|
Calculated Amount |
Amount Paid |
Shortfall |
||||||||
|
Servicing Fee |
$537,168.16 | $537,168.16 | $0.00 | |||||||
|
Trustee and Other Fees/Expenses (capped at $300,000.00 per calendar year) |
||||||||||
|
Indenture Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Owner Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Asset Representations Reviewer |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Interest - Class A-1 Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class A-2a Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class A-2b Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class A-3 Notes |
$1,803,234.06 | $1,803,234.06 | $0.00 | |||||||
|
Interest - Class A-4 Notes |
$555,275.00 | $555,275.00 | $0.00 | |||||||
|
First Priority Principal Distribution Amount |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class B Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Second Priority Principal Distribution Amount |
$17,355,845.07 | $17,355,845.07 | $0.00 | |||||||
|
Reserve Account Deposit |
$0.00 | $0.00 | $0.00 | |||||||
|
Regular Principal Distribution Amount |
$13,600,053.41 | $13,600,053.41 | $0.00 | |||||||
|
Additional Trustee and Other Fees/Expenses |
||||||||||
|
Indenture Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Owner Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Asset Representations Reviewer |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Excess Amounts to the Certificateholder |
$2,591,307.09 | $2,591,307.09 | N/A | |||||||
Page 3 of 5
Servicer's Certificate
for the Collection Period September 01, 2025 through September 30, 2025
for Payment Date of October 15, 2025
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
30 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
30 |
Actual/360 Days |
30 |
Noteholder Distributions
|
Interest Distributed |
Per $1000 of Original Balance |
Principal Distributed |
Per $1000 of Original Balance |
Amount Distributed |
Per $1000 of 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 |
$1,803,234.06 | $3.42 | $30,955,898.48 | $58.68 | $32,759,132.54 | $62.10 | ||||||||||||||||||||||||||||
|
Class A-4 Notes |
$555,275.00 | $4.18 | $0.00 | $0.00 | $555,275.00 | $4.18 | ||||||||||||||||||||||||||||
|
Class B Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||||||||||
Delinquent and Repossessed Contracts
|
Percentage of Current Month Number of Contracts |
Units |
Percentage of Current Month Receivables Pool Balance |
Balance | |||||||||||||
|
30-59 Days Delinquent |
0.98% | 395 | 1.49% | $9,112,703.25 | ||||||||||||
|
60-89 Days Delinquent |
0.24% | 99 | 0.33% | $2,027,768.54 | ||||||||||||
|
90-119 Days Delinquent |
0.10% | 42 | 0.14% | $881,872.07 | ||||||||||||
|
120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
|
Total Delinquencies |
1.32% | 536 | 1.96% | $12,022,343.86 | ||||||||||||
|
Total Delinquencies - Prior Period |
1.40% | 2.04% | ||||||||||||||
|
Total Delinquencies - Two Months Prior |
1.31% | 1.87% | ||||||||||||||
|
Total Delinquencies - Three Months Prior |
1.16% | 1.68% | ||||||||||||||
|
Receivables Pool Balance |
$610,614,426.23 | |||||||||||||||
|
60-Day Delinquency Percentage |
0.48% | |||||||||||||||
|
Delinquency Trigger Percentage |
4.65% | |||||||||||||||
|
Has a Delinquency Trigger occurred in this Collection Period? |
No | |||||||||||||||
|
Repossessed Vehicle Inventory* |
11 vehicles | |||||||
|
* Included with Delinquencies Above |
||||||||
Page 4 of 5
Servicer's Certificate
for the Collection Period September 01, 2025 through September 30, 2025
for Payment Date of October 15, 2025
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
I hereby certify to the best of my knowledge that the report provided is true and correct.
|
/s/ Stephen Bishop |
||
| Name: | Stephen Bishop | |
| Title: | General Manager - Treasury | |
Page 5 of 5
Toyota Auto Receivables 2023-C Owner Trust published this content on October 29, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on October 29, 2025 at 14:57 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]