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Ford Credit Auto Owner Trust 2023-A
06/20/2025 | Press release | Distributed by Public on 06/20/2025 07:09
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | May 2025 | ||||
| Payment Date | 6/16/2025 | ||||
| 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 | $ | 1,732,167,317.56 | 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 | 5.05228 | % | * | 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 | $ | 2,720,646.14 | |||
| Principal: | |||||
| Principal Collections | $ | 20,215,999.72 | |||
| Prepayments in Full | $ | 10,392,339.61 | |||
| Liquidation Proceeds | $ | 418,906.80 | |||
| Recoveries | $ | 99,899.66 | |||
| Sub Total | $ | 31,127,145.79 | |||
| Collections | $ | 33,847,791.93 | |||
| Purchase Amounts: | |||||
| Purchase Amounts Related to Principal | $ | 112,380.90 | |||
| Purchase Amounts Related to Interest | $ | 639.92 | |||
| Sub Total | $ | 113,020.82 | |||
| Clean-up Call | $0.00 | ||||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Available Funds - Total | $33,960,812.75 | ||||
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Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | May 2025 | ||||
| Payment Date | 6/16/2025 | ||||
| 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 | $ | 33,960,812.75 | |||||||||||||||||||
| Servicing Fee | $ | 531,064.97 | $ | 531,064.97 | $ | 0.00 | $ | 0.00 | $ | 33,429,747.78 | |||||||||||||||||||
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 33,429,747.78 | |||||||||||||||||||
| Interest - Class A-2a Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 33,429,747.78 | |||||||||||||||||||
| Interest - Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 33,429,747.78 | |||||||||||||||||||
| Interest - Class A-3 Notes | $ | 1,460,384.69 | $ | 1,460,384.69 | $ | 0.00 | $ | 0.00 | $ | 31,969,363.09 | |||||||||||||||||||
| Interest - Class A-4 Notes | $ | 364,800.00 | $ | 364,800.00 | $ | 0.00 | $ | 0.00 | $ | 31,604,563.09 | |||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 31,604,563.09 | |||||||||||||||||||
| Interest - Class B Notes | $ | 199,969.25 | $ | 199,969.25 | $ | 0.00 | $ | 0.00 | $ | 31,404,593.84 | |||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 31,404,593.84 | |||||||||||||||||||
| Interest - Class C Notes | $ | 145,142.58 | $ | 145,142.58 | $ | 0.00 | $ | 0.00 | $ | 31,259,451.26 | |||||||||||||||||||
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 31,259,451.26 | |||||||||||||||||||
| Regular Principal Payment | $ | 28,627,436.58 | $ | 28,627,436.58 | $ | 0.00 | $ | 0.00 | $ | 2,632,014.68 | |||||||||||||||||||
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 2,632,014.68 | |||||||||||||||||||
| Residual Released to Depositor | $ | 0.00 | $ | 2,632,014.68 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Total | $ | 33,960,812.75 | |||||||||||||||||||||||||||
| Principal Payment: | |||||||||||||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Regular Principal Payment | $ | 28,627,436.58 | |||||||||||||||||||||||||||
| Total | $ | 28,627,436.58 | |||||||||||||||||||||||||||
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 | $ | 28,627,436.58 | $ | 56.13 | $ | 1,460,384.69 | $ | 2.86 | $ | 30,087,821.27 | $ | 58.99 | |||||||||||||||||||||||
| 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 | $ | 28,627,436.58 | $ | 18.13 | $ | 2,170,296.52 | $ | 1.37 | $ | 30,797,733.10 | $ | 19.50 | |||||||||||||||||||||||
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Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | May 2025 | ||||
| Payment Date | 6/16/2025 | ||||
| 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 | $ | 376,873,468.49 | 0.7389676 | $ | 348,246,031.91 | 0.6828354 | |||||||||||||||||
| 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 | $ | 551,813,468.49 | 0.3494835 | $ | 523,186,031.91 | 0.3313527 | |||||||||||||||||
| Pool Information | |||||||||||
| Weighted Average APR | 5.208 | % | 5.237 | % | |||||||
| Weighted Average Remaining Term | 37.76 | 37.04 | |||||||||
| Number of Receivables Outstanding | 27,442 | 26,723 | |||||||||
| Pool Balance | $ | 637,277,959.70 | $ | 605,497,632.33 | |||||||
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 589,004,224.26 | $ | 559,900,082.76 | |||||||
| Pool Factor | 0.3679079 | 0.3495607 | |||||||||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,947,369.48 | |||
| Yield Supplement Overcollateralization Amount | $ | 45,597,549.57 | |||
| Targeted Overcollateralization Amount | $ | 82,311,600.42 | |||
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 82,311,600.42 | |||
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 | |||
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Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | May 2025 | ||||
| Payment Date | 6/16/2025 | ||||
| Transaction Month | 27 | ||||
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||||||||||||||
| Current Collection Period Loss: | |||||||||||||||||
| Realized Loss (Charge-Offs) | 71 | $ | 640,700.34 | ||||||||||||||
| (Recoveries) | 85 | $ | 99,899.66 | ||||||||||||||
| Net Loss for Current Collection Period | $ | 540,800.68 | |||||||||||||||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 1.0183 | % | |||||||||||||||
| Prior and Current Collection Periods Average Loss: | |||||||||||||||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||||||||||||||
| Third Prior Collection Period | 0.7505 | % | |||||||||||||||
| Second Prior Collection Period | 0.9785 | % | |||||||||||||||
| Prior Collection Period | 0.3809 | % | |||||||||||||||
| Current Collection Period | 1.0444 | % | |||||||||||||||
| Four Month Average (Current and Prior Three Collection Periods) | 0.7886 | % | |||||||||||||||
| Cumulative Loss: | |||||||||||||||||
| Cumulative Realized Loss (Charge-Offs) | 2,047 | $ | 12,423,860.27 | ||||||||||||||
| (Cumulative Recoveries) | $ | 1,670,835.31 | |||||||||||||||
| Cumulative Net Loss for All Collection Periods | $ | 10,753,024.96 | |||||||||||||||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.6208 | % | |||||||||||||||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 6,069.30 | |||||||||||||||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 5,253.07 | |||||||||||||||
| % of EOP Pool Balance | # of Receivables | Amount | |||||||||||||||
| Delinquent Receivables: | |||||||||||||||||
| 31-60 Days Delinquent | 1.46 | % | 269 | $ | 8,869,302.95 | ||||||||||||
| 61-90 Days Delinquent | 0.20 | % | 36 | $ | 1,216,789.49 | ||||||||||||
| 91-120 Days Delinquent | 0.09 | % | 18 | $ | 565,623.22 | ||||||||||||
| Over 120 Days Delinquent | 0.07 | % | 13 | $ | 453,060.66 | ||||||||||||
| Total Delinquent Receivables | 1.83 | % | 336 | $ | 11,104,776.32 | ||||||||||||
| Repossession Inventory: | |||||||||||||||||
| Repossessed in the Current Collection Period | 10 | $ | 320,247.74 | ||||||||||||||
| Total Repossessed Inventory | 19 | $ | 626,053.47 | ||||||||||||||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||||||||||||||
| Second Prior Collection Period | 0.1881 | % | |||||||||||||||
| Prior Collection Period | 0.2077 | % | |||||||||||||||
| Current Collection Period | 0.2507 | % | |||||||||||||||
| Three Month Average | 0.2155 | % | |||||||||||||||
| 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 | 0.3692 | % | |||||||||||||||
| Delinquency Trigger Occurred | No | ||||||||||||||||
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Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | May 2025 | ||||
| Payment Date | 6/16/2025 | ||||
| Transaction Month | 27 | ||||
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount | ||||||||||||
| 1 Month Extended | 85 | $2,894,439.74 | ||||||||||||
| 2 Months Extended | 126 | $4,274,687.94 | ||||||||||||
| 3+ Months Extended | 26 | $908,899.27 | ||||||||||||
| Total Receivables Extended | 237 | $8,078,026.95 | ||||||||||||
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
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Ford Credit Auto Owner Trust 2023-A published this content on June 20, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on June 20, 2025 at 13:09 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]