Ford Credit Auto Owner Trust 2024-C
06/20/2025 | Press release | Distributed by Public on 06/20/2025 07:44
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
| Collection Period | May 2025 | ||||
| Payment Date | 6/16/2025 | ||||
| Transaction Month | 9 | ||||
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 | $1,688,795,240.91 | 42,975 | 57.2 months | ||||||||||||||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | |||||||||||||||
| Original Securities | |||||||||||||||||
| Class A-1 Notes | $ | 330,000,000.00 | 4.922 | % | October 15, 2025 | ||||||||||||
| Class A-2a Notes | $ | 300,000,000.00 | 4.32 | % | August 15, 2027 | ||||||||||||
| Class A-2b Notes | $ | 245,000,000.00 | 4.73228 | % | * | August 15, 2027 | |||||||||||
| Class A-3 Notes | $ | 545,000,000.00 | 4.07 | % | July 15, 2029 | ||||||||||||
| Class A-4 Notes | $ | 80,000,000.00 | 4.11 | % | July 15, 2030 | ||||||||||||
| Class B Notes | $ | 47,370,000.00 | 4.40 | % | August 15, 2030 | ||||||||||||
| Class C Notes | $ | 31,570,000.00 | 0.00 | % | March 15, 2032 | ||||||||||||
| Total | $ | 1,578,940,000.00 | |||||||||||||||
| * 30-day average SOFR + 0.40% | |||||||||||||||||
II. AVAILABLE FUNDS
| Interest: | |||||
| Interest Collections | $ | 5,140,311.49 | |||
| Principal: | |||||
| Principal Collections | $ | 29,761,970.54 | |||
| Prepayments in Full | $ | 16,002,063.25 | |||
| Liquidation Proceeds | $ | 403,871.87 | |||
| Recoveries | $ | 17,947.27 | |||
| Sub Total | $ | 46,185,852.93 | |||
| Collections | $ | 51,326,164.42 | |||
| Purchase Amounts: | |||||
| Purchase Amounts Related to Principal | $ | 110,506.84 | |||
| Purchase Amounts Related to Interest | $ | 702.82 | |||
| Sub Total | $ | 111,209.66 | |||
| Clean-up Call | $0.00 | ||||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Available Funds - Total | $51,437,374.08 | ||||
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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
| Collection Period | May 2025 | ||||
| Payment Date | 6/16/2025 | ||||
| Transaction Month | 9 | ||||
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 | $ | 51,437,374.08 | |||||||||||||||||||
| Servicing Fee | $ | 1,095,932.69 | $ | 1,095,932.69 | $ | 0.00 | $ | 0.00 | $ | 50,341,441.39 | |||||||||||||||||||
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 50,341,441.39 | |||||||||||||||||||
| Interest - Class A-2a Notes | $ | 1,002,073.20 | $ | 1,002,073.20 | $ | 0.00 | $ | 0.00 | $ | 49,339,368.19 | |||||||||||||||||||
| Interest - Class A-2b Notes | $ | 956,224.10 | $ | 956,224.10 | $ | 0.00 | $ | 0.00 | $ | 48,383,144.09 | |||||||||||||||||||
| Interest - Class A-3 Notes | $ | 1,848,458.33 | $ | 1,848,458.33 | $ | 0.00 | $ | 0.00 | $ | 46,534,685.76 | |||||||||||||||||||
| Interest - Class A-4 Notes | $ | 274,000.00 | $ | 274,000.00 | $ | 0.00 | $ | 0.00 | $ | 46,260,685.76 | |||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 46,260,685.76 | |||||||||||||||||||
| Interest - Class B Notes | $ | 173,690.00 | $ | 173,690.00 | $ | 0.00 | $ | 0.00 | $ | 46,086,995.76 | |||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 46,086,995.76 | |||||||||||||||||||
| Interest - Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 46,086,995.76 | |||||||||||||||||||
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 46,086,995.76 | |||||||||||||||||||
| Regular Principal Payment | $ | 51,419,822.41 | $ | 46,086,995.76 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Residual Released to Depositor | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Total | $ | 51,437,374.08 | |||||||||||||||||||||||||||
| Principal Payment: | |||||||||||||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Regular Principal Payment | $ | 46,086,995.76 | |||||||||||||||||||||||||||
| Total | $ | 46,086,995.76 | |||||||||||||||||||||||||||
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 | $ | 25,368,988.49 | $ | 84.56 | $ | 1,002,073.20 | $ | 3.34 | $ | 26,371,061.69 | $ | 87.90 | |||||||||||||||||||||||
| Class A-2b Notes | $ | 20,718,007.27 | $ | 84.56 | $ | 956,224.10 | $ | 3.90 | $ | 21,674,231.37 | $ | 88.46 | |||||||||||||||||||||||
| Class A-3 Notes | $ | 0.00 | $ | 0.00 | $ | 1,848,458.33 | $ | 3.39 | $ | 1,848,458.33 | $ | 3.39 | |||||||||||||||||||||||
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 274,000.00 | $ | 3.43 | $ | 274,000.00 | $ | 3.43 | |||||||||||||||||||||||
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 173,690.00 | $ | 3.67 | $ | 173,690.00 | $ | 3.67 | |||||||||||||||||||||||
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||||||
| Total | $ | 46,086,995.76 | $ | 29.19 | $ | 4,254,445.63 | $ | 2.69 | $ | 50,341,441.39 | $ | 31.88 | |||||||||||||||||||||||
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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
| Collection Period | May 2025 | ||||
| Payment Date | 6/16/2025 | ||||
| Transaction Month | 9 | ||||
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 | $ | 278,353,666.50 | 0.9278456 | $ | 252,984,678.01 | 0.8432823 | |||||||||||||||||
| Class A-2b Notes | $ | 227,322,160.98 | 0.9278456 | $ | 206,604,153.71 | 0.8432823 | |||||||||||||||||
| Class A-3 Notes | $ | 545,000,000.00 | 1.0000000 | $ | 545,000,000.00 | 1.0000000 | |||||||||||||||||
| Class A-4 Notes | $ | 80,000,000.00 | 1.0000000 | $ | 80,000,000.00 | 1.0000000 | |||||||||||||||||
| Class B Notes | $ | 47,370,000.00 | 1.0000000 | $ | 47,370,000.00 | 1.0000000 | |||||||||||||||||
| Class C Notes | $ | 31,570,000.00 | 1.0000000 | $ | 31,570,000.00 | 1.0000000 | |||||||||||||||||
| Total | $ | 1,209,615,827.48 | 0.7660936 | $ | 1,163,528,831.72 | 0.7369050 | |||||||||||||||||
| Pool Information | |||||||||||
| Weighted Average APR | 4.775 | % | 4.778 | % | |||||||
| Weighted Average Remaining Term | 50.80 | 50.00 | |||||||||
| Number of Receivables Outstanding | 37,637 | 36,915 | |||||||||
| Pool Balance | $ | 1,315,119,228.15 | $ | 1,268,282,425.87 | |||||||
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 1,233,422,683.40 | $ | 1,189,774,962.37 | |||||||
| Pool Factor | 0.7787322 | 0.7509983 | |||||||||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,947,369.66 | |||
| Yield Supplement Overcollateralization Amount | $ | 78,507,463.50 | |||
| Targeted Overcollateralization Amount | $ | 110,086,420.80 | |||
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 104,753,594.15 | |||
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 3,947,369.66 | |||
| Reserve Account Deposits Made | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Ending Reserve Account Balance | $ | 3,947,369.66 | |||
| Change in Reserve Account Balance | $ | 0.00 | |||
| Specified Reserve Balance | $ | 3,947,369.66 | |||
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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
| Collection Period | May 2025 | ||||
| Payment Date | 6/16/2025 | ||||
| Transaction Month | 9 | ||||
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||||||||||||||
| Current Collection Period Loss: | |||||||||||||||||
| Realized Loss (Charge-Offs) | 68 | $ | 558,389.78 | ||||||||||||||
| (Recoveries) | 10 | $ | 17,947.27 | ||||||||||||||
| Net Loss for Current Collection Period | $ | 540,442.51 | |||||||||||||||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.4931 | % | |||||||||||||||
| Prior and Current Collection Periods Average Loss: | |||||||||||||||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||||||||||||||
| Third Prior Collection Period | 0.2854 | % | |||||||||||||||
| Second Prior Collection Period | 0.3998 | % | |||||||||||||||
| Prior Collection Period | 0.2986 | % | |||||||||||||||
| Current Collection Period | 0.5021 | % | |||||||||||||||
| Four Month Average (Current and Prior Three Collection Periods) | 0.3715 | % | |||||||||||||||
| Cumulative Loss: | |||||||||||||||||
| Cumulative Realized Loss (Charge-Offs) | 575 | $ | 2,805,434.86 | ||||||||||||||
| (Cumulative Recoveries) | $ | 56,153.92 | |||||||||||||||
| Cumulative Net Loss for All Collection Periods | $ | 2,749,280.94 | |||||||||||||||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.1628 | % | |||||||||||||||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 4,879.02 | |||||||||||||||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 4,781.36 | |||||||||||||||
| % of EOP Pool Balance | # of Receivables | Amount | |||||||||||||||
| Delinquent Receivables: | |||||||||||||||||
| 31-60 Days Delinquent | 0.66 | % | 197 | $ | 8,374,972.88 | ||||||||||||
| 61-90 Days Delinquent | 0.06 | % | 16 | $ | 714,806.67 | ||||||||||||
| 91-120 Days Delinquent | 0.05 | % | 8 | $ | 572,897.13 | ||||||||||||
| Over 120 Days Delinquent | 0.02 | % | 8 | $ | 313,130.31 | ||||||||||||
| Total Delinquent Receivables | 0.79 | % | 229 | $ | 9,975,806.99 | ||||||||||||
| Repossession Inventory: | |||||||||||||||||
| Repossessed in the Current Collection Period | 11 | $ | 412,225.49 | ||||||||||||||
| Total Repossessed Inventory | 28 | $ | 1,415,036.19 | ||||||||||||||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||||||||||||||
| Second Prior Collection Period | 0.0966 | % | |||||||||||||||
| Prior Collection Period | 0.1116 | % | |||||||||||||||
| Current Collection Period | 0.0867 | % | |||||||||||||||
| Three Month Average | 0.0983 | % | |||||||||||||||
| Delinquency Trigger (61+ Delinquent Receivables) | |||||||||||||||||
| Transaction Month | Trigger | ||||||||||||||||
| 1-12 | 0.80% | ||||||||||||||||
| 13-24 | 1.30% | ||||||||||||||||
| 25-36 | 2.40% | ||||||||||||||||
| 37+ | 4.75% | ||||||||||||||||
| 61+ Delinquent Receivables Balance to EOP Pool Balance | 0.1262 | % | |||||||||||||||
| Delinquency Trigger Occurred | No | ||||||||||||||||
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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
| Collection Period | May 2025 | ||||
| Payment Date | 6/16/2025 | ||||
| Transaction Month | 9 | ||||
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount | ||||||||||||
| 1 Month Extended | 77 | $3,269,981.59 | ||||||||||||
| 2 Months Extended | 138 | $5,799,207.22 | ||||||||||||
| 3+ Months Extended | 15 | $600,516.12 | ||||||||||||
| Total Receivables Extended | 230 | $9,669,704.93 | ||||||||||||
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 2024-C published this content on June 20, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on June 20, 2025 at 13:44 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]