Toyota Auto Receivables 2023-C Owner Trust
01/28/2026 | Press release | Distributed by Public on 01/28/2026 09:57
Asset-Backed Issuer Distribution Report (Form 10-D)
Servicer's Certificate
for the Collection Period December 01, 2025 through December 31, 2025
for Payment Date of January 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
| 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 | $331,677,523.44 | 0.6287726 | $0.00 | $15,525,667.75 | $13,600,053.41 | $302,551,802.28 | 0.5735579 | |||||||||||||||||||||||||||
| 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 | $504,677,523.44 | $0.00 | $15,525,667.75 | $13,600,053.41 | $475,551,802.28 | 0.2972199 | |||||||||||||||||||||||||||||
| 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 | 4.38385% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-3 | 5.16000% | $1,426,213.35 | $0.00 | $1,426,213.35 | $0.00 | $30,551,934.51 | ||||||||||||||||||||
| 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 | $1,981,488.35 | $0.00 | $1,981,488.35 | $0.00 | $31,107,209.51 | |||||||||||||||||||||
Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
|
Initial Deposit Amount |
$4,000,015.71 |
Beginning Period Amount |
$30,210,583.01 | |||||||
|
Specified Reserve Account Amount |
$4,000,015.71 |
Increase/(Decrease) |
$(2,563,145.33 | ) | ||||||
|
Beginning Balance |
$4,000,015.71 |
Ending Period Amount |
$27,647,437.68 | |||||||
|
Withdrawals |
$0.00 | |||||||||
|
Amount Available for Deposit |
$16,041,478.89 | Overcollateralization | ||||||||
|
Amount Deposited to the Reserve Account |
$0.00 | |||||||||
|
Reserve Account Balance Prior to Release |
$4,000,015.71 |
Adjusted Pool Balance |
$489,151,855.69 | |||||||
|
Reserve Account Required Amount |
$4,000,015.71 |
Total Note Balance |
$475,551,802.28 | |||||||
|
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 December 01, 2025 through December 31, 2025
for Payment Date of January 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
Liquidations of Charge-offs and Repossessions
| Cumulative | ||||||||||||||||||||
| Current Period Only | Current Period | Prior Period | Two Periods Prior | Three Periods Prior | ||||||||||||||||
|
Number of Liquidated Receivables |
24 | 883 | 859 | 830 | 801 | |||||||||||||||
|
Gross Principal of Liquidated Receivables |
$491,390.37 | $22,892,468.11 | $22,401,077.74 | $21,762,705.60 | $21,139,339.18 | |||||||||||||||
|
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 |
$(164,409.19 | ) | $(2,625,810.77 | ) | $(2,461,401.58 | ) | $(2,374,693.68 | ) | $(2,233,003.79 | ) | ||||||||||
|
Recoveries on Previously Liquidated Contracts |
$(371,626.99 | ) | $(10,476,649.74 | ) | $(10,105,022.75 | ) | $(9,898,825.58 | ) | $(9,609,033.86 | ) | ||||||||||
|
Net Credit Losses |
$(44,645.81 | ) | $9,683,419.62 | $9,728,065.43 | $9,382,598.36 | $9,190,713.55 | ||||||||||||||
|
Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
1.34325% | 1.30674% | 1.26263% | 1.21851% | ||||||||||||||||
|
Number of Accounts with Liquidation Proceeds or Recoveries |
848 | 827 | 791 | 769 | ||||||||||||||||
|
Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.90227% | 0.89051% | 0.84388% | 0.81218% | ||||||||||||||||
|
Number of Assets Experiencing a Net Loss |
790 | 768 | 744 | 718 | ||||||||||||||||
|
Net Credit Losses for Assets Experiencing a Loss |
$9,724,227.04 | $9,768,305.11 | $9,420,415.42 | $9,227,193.74 | ||||||||||||||||
|
Average Net Loss on all assets that have Experienced a Net Loss |
$12,309.15 | $12,719.15 | $12,661.85 | $12,851.24 | ||||||||||||||||
|
Cumulative Net Loss Ratio |
0.54350% | 0.54601% | 0.52662% | 0.51585% | ||||||||||||||||
|
Repossessed in Current Period |
9 vehicles | |||||||||||||||||||
Pool Data
| Original | Prior Month | Current Month | ||||||||||||||
|
Receivables Pool Balance |
$1,781,678,265.26 | $548,488,159.86 | $516,799,293.37 | |||||||||||||
|
Number of Contracts |
65,736 | 38,691 | 37,715 | |||||||||||||
|
Weighted Average APR |
4.64% | 4.87% | 4.88% | |||||||||||||
|
Weighted Average Remaining Term (Months) |
55.40 | 29.41 | 28.57 | |||||||||||||
Page 2 of 5
Servicer's Certificate
for the Collection Period December 01, 2025 through December 31, 2025
for Payment Date of January 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
Collections
|
Principal Payments Received |
$22,304,458.77 | |||
|
Prepayments in Full |
$8,865,606.99 | |||
|
Interest Payments Received |
$2,271,837.42 | |||
|
Aggregate Net Liquidation Proceeds |
$536,036.18 | |||
|
Interest on Repurchased Contracts |
$358.74 | |||
|
Total Collections |
$33,978,298.10 | |||
|
Principal of Repurchased Contracts |
$27,410.36 | |||
|
Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
|
Adjustment on Repurchased Contracts |
$0.00 | |||
|
Total Repurchased Amount |
$27,410.36 | |||
|
Total Available Collections |
$34,005,708.46 |
Distributions
|
Calculated Amount |
Amount Paid |
Shortfall |
||||||||
|
Servicing Fee |
$457,073.47 | $457,073.47 | $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 |
$1,426,213.35 | $1,426,213.35 | $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 |
$15,525,667.75 | $15,525,667.75 | $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 |
$2,441,425.48 | $2,441,425.48 | N/A | |||||||
Page 3 of 5
Servicer's Certificate
for the Collection Period December 01, 2025 through December 31, 2025
for Payment Date of January 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
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 |
$1,426,213.35 | $2.70 | $29,125,721.16 | $55.21 | $30,551,934.51 | $57.91 | ||||||||||||||||||||||||||||
|
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 |
1.02% | 384 | 1.50% | $7,735,000.28 | ||||||||||||
|
60-89 Days Delinquent |
0.32% | 122 | 0.50% | $2,590,737.17 | ||||||||||||
|
90-119 Days Delinquent |
0.11% | 41 | 0.19% | $964,198.55 | ||||||||||||
|
120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
|
Total Delinquencies |
1.45% | 547 | 2.19% | $11,289,936.00 | ||||||||||||
|
Total Delinquencies - Prior Period |
1.46% | 2.17% | ||||||||||||||
|
Total Delinquencies - Two Months Prior |
1.41% | 2.08% | ||||||||||||||
|
Total Delinquencies - Three Months Prior |
1.32% | 1.96% | ||||||||||||||
|
Receivables Pool Balance |
$516,799,293.37 | |||||||||||||||
|
60-Day Delinquency Percentage |
0.69% | |||||||||||||||
|
Delinquency Trigger Percentage |
4.65% | |||||||||||||||
|
Has a Delinquency Trigger occurred in this Collection Period? |
No | |||||||||||||||
|
Repossessed Vehicle Inventory* |
10 vehicles | |||||||
|
* Included with Delinquencies Above |
||||||||
Page 4 of 5
Servicer's Certificate
for the Collection Period December 01, 2025 through December 31, 2025
for Payment Date of January 15, 2026
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 January 28, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on January 28, 2026 at 15:57 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]