Porsche Auto Funding LLC
07/24/2026 | Press release | Distributed by Public on 07/24/2026 10:19
Asset-Backed Issuer Distribution Report (Form 10-D)
Porsche Innovative Lease Owner Trust 2026-1 (PILOT 2026-1)
Monthly Servicer's Certificate
| Collection Period Ended | 6/30/2026 | |||||||||||||||||||||||
| DATES | ||||||||||||||||||||||||
| Collection Period No. | 1 | |||||||||||||||||||||||
| Begin | End | # days | ||||||||||||||||||||||
| Collection Period | 5/1/2026 | 6/30/2026 | 61 | |||||||||||||||||||||
| Determination Date | 7/16/2026 | |||||||||||||||||||||||
| Record Date | 7/17/2026 | |||||||||||||||||||||||
| Payment Date | 7/20/2026 | |||||||||||||||||||||||
| Monthly Interest Period - Actual/360 | 6/12/2026 | 7/20/2026 | 38 | |||||||||||||||||||||
| Monthly Interest - 30/360 | 6/12/2026 | 7/20/2026 | 38 | |||||||||||||||||||||
| SUMMARY | ||||||||||||||||||||||||
| Initial | Beginning | Principal | Ending | Ending Balance | ||||||||||||||||||||
| Balance | Balance | Payment | Balance | Note Factor | per $1000 Initial Face Amount | |||||||||||||||||||
| Class A-1 Notes | 144,000,000.00 | 144,000,000.00 | 60,198,548.16 | 83,801,451.84 | 0.5819545 | 581.9545267 | ||||||||||||||||||
| Class A-2a Notes | 278,500,000.00 | 278,500,000.00 | - | 278,500,000.00 | 1.0000000 | 1000.00000000 | ||||||||||||||||||
| Class A-2b Notes | 75,000,000.00 | 75,000,000.00 | - | 75,000,000.00 | 1.0000000 | 1000.00000000 | ||||||||||||||||||
| Class A-3 Notes | 353,500,000.00 | 353,500,000.00 | - | 353,500,000.00 | 1.0000000 | 1000.00000000 | ||||||||||||||||||
| Class A-4 Notes | 60,000,000.00 | 60,000,000.00 | - | 60,000,000.00 | 1.0000000 | 1000.00000000 | ||||||||||||||||||
| Total Note Balance | 911,000,000.00 | 911,000,000.00 | 60,198,548.16 | 850,801,451.84 | ||||||||||||||||||||
| Overcollateralization | 136,127,002.03 | 136,127,002.03 | 146,597,780.28 | |||||||||||||||||||||
| Total Securitization Value | 1,047,127,002.03 | 1,047,127,002.03 | 997,399,232.12 | |||||||||||||||||||||
| Present Value of Lease Payment | 479,295,059.64 | |||||||||||||||||||||||
| Present Value of Residual Value | 518,104,172.48 | |||||||||||||||||||||||
| Amount | Percentage | |||||||||||||||||||||||
| Initial Overcollateralization Amount | 136,127,002.03 | 13.00 | % | |||||||||||||||||||||
| Target Overcollateralization Amount | 146,597,780.28 | 14.00 | % | |||||||||||||||||||||
| Current Overcollateralization Amount | 146,597,780.28 | 14.00 | % | |||||||||||||||||||||
| Interest | Principal Payment | Interest & Principal | ||||||||||||||||||||||
| Interest Rate | Interest | per $1000 Initial Face Amount | per $1000 Initial Face Amount | Payment | ||||||||||||||||||||
| Class A-1 Notes | 3.839% | 583,528.00 | 4.0522778 | 418.0454733 | 60,782,076.16 | |||||||||||||||||||
| Class A-2a Notes | 4.100% | 1,205,286.11 | 4.3277778 | - | 1,205,286.11 | |||||||||||||||||||
| Class A-2b Notes | 3.943% | 312,181.88 | 4.1624251 | - | 312,181.88 | |||||||||||||||||||
| Class A-3 Notes | 4.410% | 1,645,542.50 | 4.6550000 | - | 1,645,542.50 | |||||||||||||||||||
| Class A-4 Notes | 4.460% | 282,466.67 | 4.7077778 | - | 282,466.67 | |||||||||||||||||||
| Total | 4,029,005.16 | 64,227,553.32 | ||||||||||||||||||||||
| AVAILABLE FUNDS | ||||||||||||||||||||||||
| Lease Payments Received | 46,052,790.46 | |||||||||||||||||||||||
| Net Sales Proceeds-early terminations (incl. Defaulted Leases) | 29,405,866.58 | |||||||||||||||||||||||
| Net Sales Proceeds-scheduled terminations | - | |||||||||||||||||||||||
| Thereof excess wear and tear received | 4,528.50 | |||||||||||||||||||||||
| Thereof excess mileage charges received | 5,053.20 | |||||||||||||||||||||||
| Subtotal | 75,468,238.74 | |||||||||||||||||||||||
| Reallocation Amount | - | |||||||||||||||||||||||
| Advances made by the Servicer | - | |||||||||||||||||||||||
| Investment Earnings | 123,880.76 | |||||||||||||||||||||||
| Total Available Funds | 75,592,119.50 | |||||||||||||||||||||||
| Reserve Account Draw | - | |||||||||||||||||||||||
| Available for Distribution | 75,592,119.50 |
| DISTRIBUTIONS | ||||||||||||||||||||||||
| (1) Reimbursement of Previous Advances | - | |||||||||||||||||||||||
| (2) Total Servicing Fee and Investment Earnings | 1,898,179.29 | (from Indenture Trustee to Servicer) | ||||||||||||||||||||||
| (3) Total Trustees and Asset Representations Reviewer (ARR) Fees | 866.67 | (from Indenture Trustee to Trustees and ARR) | ||||||||||||||||||||||
| (4) Interest Distributable Amount Class A Notes | 4,029,005.16 | (from Indenture Trustee to Noteholders) | ||||||||||||||||||||||
| Targeted Note Balance | 850,801,451.84 | |||||||||||||||||||||||
| (5) Principal Distribution Amount | 60,198,548.16 | (from Indenture Trustee to Noteholders) | ||||||||||||||||||||||
| (6) To Reserve Fund to reach the Reserve Fund Required Amount | - | (from Indenture Trustee to Reserve Account) | ||||||||||||||||||||||
| (7) Total Trustees and Asset Representations Reviewer Fees [not previously paid under (3)] | - | (from Indenture Trustee to Trustees and ARR) | ||||||||||||||||||||||
| (8) Excess Collections to Certificateholders | 9,465,520.22 | (from Indenture Trustee to Servicer) | ||||||||||||||||||||||
| Total Distribution | 75,592,119.50 | |||||||||||||||||||||||
| DISTRIBUTION DETAIL | ||||||||||||||||||||||||
|
Prior Period Shortfall |
Amount Due |
Amount Paid |
Shortfall | |||||||||||||||||||||
| Total Servicing | - | 1,774,298.53 | 1,774,298.53 | - | (from Indenture Trustee to Servicer) | |||||||||||||||||||
| Investment Earnings | - | 123,880.76 | 123,880.76 | - | (from Indenture Trustee to Servicer) | |||||||||||||||||||
| Trustee Fee - Indenture | - | 416.67 | 416.67 | - | (from Indenture Trustee to Trustees) | |||||||||||||||||||
| Trustee Fee - Owner | - | 450.00 | 450.00 | - | (from Indenture Trustee to Trustees) | |||||||||||||||||||
| Trustee Fee - Origination | - | - | - | - | (from Indenture Trustee to Trustees) | |||||||||||||||||||
| Asset Representations Reviewer Fee | - | - | - | - | (from Indenture Trustee to ARR) | |||||||||||||||||||
| Monthly Interest Distributable Amount | ||||||||||||||||||||||||
| thereof on Class A-1 Notes | - | 583,528.00 | 583,528.00 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-2a Notes | - | 1,205,286.11 | 1,205,286.11 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-2b Notes | - | 312,181.88 | 312,181.88 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-3 Notes | - | 1,645,542.50 | 1,645,542.50 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-4 Notes | - | 282,466.67 | 282,466.67 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| Interest Carryover Shortfall Amount | ||||||||||||||||||||||||
| thereof on Class A-1 Notes | - | - | - | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-2a Notes | - | - | - | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-2b Notes | - | - | - | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-3 Notes | - | - | - | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-4 Notes | - | - | - | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| Interest Distributable Amount Class A Notes | - | 4,029,005.16 | 4,029,005.16 | 0.00 | ||||||||||||||||||||
| Principal Distribution Amount | - | 60,198,548.16 | 60,198,548.16 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| RESERVE FUND AND INVESTMENT EARNINGS | ||||||||||||||||||||||||
| Reserve Fund | ||||||||||||||||||||||||
| Reserve Fund Required Amount | 2,617,817.51 | |||||||||||||||||||||||
| Reserve Fund Amount - Beginning Balance | 2,617,817.51 | |||||||||||||||||||||||
| plus top up Reserve Fund up to the Required Amount | - | |||||||||||||||||||||||
| plus Net Investment Earnings for the Collection Period | 4,627.72 | |||||||||||||||||||||||
| minus Net Investment Earnings | 4,627.72 | |||||||||||||||||||||||
| minus Reserve Fund Draw Amount | - | |||||||||||||||||||||||
| Reserve Fund Amount - Ending Balance | 2,617,817.51 | |||||||||||||||||||||||
| Reserve Fund Deficiency | - | |||||||||||||||||||||||
| Investment Earnings | ||||||||||||||||||||||||
| Net Investment Earnings on the Reserve Fund | 4,627.72 | |||||||||||||||||||||||
| Net Investment Earnings on the Collection Account | 119,253.04 | |||||||||||||||||||||||
| Investment Earnings for the Collection Period | 123,880.76 | |||||||||||||||||||||||
| NOTICE TO INVESTORS | ||||||||||||||||||||||||
| POOL STATISTICS | ||||||||||||||||||||||||
| Pool Data | Number of | |||||||||||||||||||||||
| Amount | Receivables | |||||||||||||||||||||||
| Cutoff Date Securitization Value | 1,047,127,002.03 | 12,617 | ||||||||||||||||||||||
| Securitization Value beginning of Collection Period | 1,047,127,002.03 | 12,617 | ||||||||||||||||||||||
| Payments | 25,427,562.43 | 12,189 | ||||||||||||||||||||||
| Terminations- Early | 24,300,207.48 | 214 | ||||||||||||||||||||||
| Terminations- Scheduled | - | - | ||||||||||||||||||||||
| Repurchase Amounts | - | - | ||||||||||||||||||||||
| Gross Losses | - | - | ||||||||||||||||||||||
| Securitization Value end of Collection Period | 997,399,232.12 | 12,403 | ||||||||||||||||||||||
| Pool Factor | 95.25 | % | ||||||||||||||||||||||
| As of Cutoff Date | Previous | Current | ||||||||||||||||||||||
| Weighted Average Securitization Rate | 10.55 | % | 10.55 | % | 10.54 | % | ||||||||||||||||||
| Weighted Average Remaining Term (months) | 27.56 | 27.56 | 25.50 | |||||||||||||||||||||
| Weighted Average Seasoning (months) | 10.02 | 10.02 | 12.02 | |||||||||||||||||||||
| Aggregate Base Residual Value | 658,311,455.14 | 658,311,455.14 | 643,572,995.24 | |||||||||||||||||||||
| Monthly Turn-in Ratio | 4.21 | % | ||||||||||||||||||||||
| Cumulative Turn-in Ratio | 4.21 | % | ||||||||||||||||||||||
| Delinquency Profile | ||||||||||||||||||||||||
| Amount | Number of Contracts | Percentage | ||||||||||||||||||||||
| Current | 996,506,960.81 | 12,394 | 99.91 | % | ||||||||||||||||||||
| 31-60 Days Delinquent | 771,645.65 | 8 | 0.08 | % | ||||||||||||||||||||
| 61-90 Days Delinquent | 120,625.66 | 1 | 0.01 | % | ||||||||||||||||||||
| 91-120 Days Delinquent | - | - | 0.00 | % | ||||||||||||||||||||
| Total | 997,399,232.12 | 12,403 | 100.00 | % | ||||||||||||||||||||
| Total 30+ Days Delinquent | 892,271.31 | 9 | 0.09 | % | ||||||||||||||||||||
| Total 60+ Days Delinquent | 120,625.66 | 1 | 0.01 | % | ||||||||||||||||||||
| Delinquency Trigger (60+ Days) | 4.50 | % | ||||||||||||||||||||||
| Delinquency Trigger Occcured | No | |||||||||||||||||||||||
| Credit Loss | ||||||||||||||||||||||||
| Current | ||||||||||||||||||||||||
| Securitization Value of Credit-Loss Contracts BOP | - | |||||||||||||||||||||||
| Less Liquidation Proceeds | - | |||||||||||||||||||||||
| Less Recoveries | - | |||||||||||||||||||||||
| Current Net Credit Loss/(Gain) | - | |||||||||||||||||||||||
| Cumulative Net Credit Loss/(Gain) | - | |||||||||||||||||||||||
| Cumulative Net Credit Loss/(Gain) as % of Cutoff Date Securitization Value | 0.00% | |||||||||||||||||||||||
| Residual Loss | ||||||||||||||||||||||||
| Current | ||||||||||||||||||||||||
| Number of vehicles turned-in | 9 | |||||||||||||||||||||||
| Securitization Value of turned-in vehicles | 493,676.60 | |||||||||||||||||||||||
| Less sales proceeds and other payments received during period | 672,338.27 | |||||||||||||||||||||||
| Current Residual Loss/(Gain) | (178,661.67) | |||||||||||||||||||||||
| Current Residual Loss/(Gain) % | -36.19% | |||||||||||||||||||||||
| Cumulative Residual Loss/(Gain) | (178,661.67) | |||||||||||||||||||||||
| Cumulative Residual Loss/(Gain) as % of Cut-off Date Securitization Value | -0.02% | |||||||||||||||||||||||
| ABS Prepayment Speed | 0.96% | |||||||||||||||||||||||
| Summary of Material Modifications, Extensions or Waivers | ||||||||||||||||||||||||
| None in the current month | ||||||||||||||||||||||||
| Summary of Material Breaches of Representations or Warranties Related to Eligibility Criteria | ||||||||||||||||||||||||
| None in the current month | ||||||||||||||||||||||||
| Number of Reallocated Units | - | |||||||||||||||||||||||
| Aggregate Securitization Value of Reallocated Units | - | |||||||||||||||||||||||
| Reallocated Units Related to Postmaturity Term Extension | ||||||||||||||||||||||||
| None in the current month | ||||||||||||||||||||||||
| Number of Reallocated Units | - | |||||||||||||||||||||||
| Aggregate Securitization Value of Reallocated Units | - | |||||||||||||||||||||||
| Summary of Material Breaches by the Issuer of Covenants | ||||||||||||||||||||||||
| None in the current month | ||||||||||||||||||||||||
| Credit Risk Retention | ||||||||||||||||||||||||
| The fair values of the Notes and the Certificates as of the Closing Date are summarized below. The totals in the table may not sum due to rounding: | ||||||||||||||||||||||||
| Class of Notes | Fair Value (in dollars) |
Fair Value (as a percentage of total) |
||||
| Class A-1 Notes | 144,000,000 | 13.06 | % | |||
| Class A-2a Notes | 278,500,000 | 25.27 | % | |||
| Class A-2b Notes | 75,000,000 | 6.80 | % | |||
| Class A-3 Notes | 353,500,000 | 32.07 | % | |||
| Class A-4 Notes | 60,000,000 | 5.44 | % | |||
| Certificate | 191,212,510 | 17.35 | % | |||
| Total | 1,102,212,510 | 100.00 | % |
The Sponsor is required to retain an economic interest in the credit risk of the securitized assets with a fair value of at least 5% of the aggregate fair value of the Notes and the Certificates as of the Closing Date, or $55,110,625.50, in accordance with the terms of Regulation RR. As of the Closing Date, the fair value of the Certificates being retained in satisfaction of such requirement represents approximately 17.35% of the aggregate fair value of the Notes and the Certificates.
Porsche Auto Funding LLC published this content on July 24, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on July 24, 2026 at 16:19 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]