CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2024-1
Statement to Securityholders
Determination Date: June 11, 2025
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Payment Date
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6/16/2025
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Collection Period Start
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5/1/2025
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Collection Period End
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5/31/2025
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Interest Period Start
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5/15/2025
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Interest Period End
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6/15/2025
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Cut-Off Date Net Pool Balance
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$
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1,116,124,822.45
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Cut-Off Date Adjusted Pool Balance
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$
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1,085,195,990.01
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I. DEAL SUMMARY
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Beginning Note
Balance
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Principal Payment
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Ending Note Balance
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Note Factor
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Final Scheduled Payment Date
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Class A-1 Notes
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$
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-
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$
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-
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$
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-
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-
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Dec-25
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Class A-2a Notes
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$
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275,244,127.87
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$
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26,301,188.92
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$
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248,942,938.95
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0.790797
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Oct-27
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Class A-2b Notes
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$
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68,898,466.57
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$
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6,583,652.12
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$
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62,314,814.45
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0.790797
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Oct-27
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Class A-3 Notes
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$
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393,600,000.00
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$
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-
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$
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393,600,000.00
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1.000000
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Jul-29
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Class A-4 Notes
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$
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65,440,000.00
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$
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-
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$
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65,440,000.00
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1.000000
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Jan-30
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Class B Notes
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$
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10,850,000.00
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$
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-
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$
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10,850,000.00
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1.000000
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Feb-30
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Class C Notes
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$
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10,850,000.00
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$
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-
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$
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10,850,000.00
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1.000000
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Apr-30
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Class D Notes
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$
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10,850,000.00
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$
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-
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$
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10,850,000.00
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1.000000
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Jan-31
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Total Notes
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$
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835,732,594.44
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$
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32,884,841.04
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$
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802,847,753.40
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Beginning Balance
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Ending Balance
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Pool Factor
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Net Pool Balance
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$
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862,692,671.24
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$
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828,908,224.91
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0.742666
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YSOC Amount
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$
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24,247,086.82
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$
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23,347,481.53
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Adjusted Pool Balance
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$
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838,445,584.42
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$
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805,560,743.38
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Overcollateralization Amount (Adjusted Pool Balance - Note Balance)
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$
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2,712,989.98
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$
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2,712,989.98
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Reserve Account Balance
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$
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2,712,989.98
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$
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2,712,989.98
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Beginning Note
Balance
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Interest Rate
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Accrual Methodology
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Interest Payment
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Class A-1 Notes
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$
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-
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4.62200%
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ACT/360
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$
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-
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Class A-2a Notes
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$
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275,244,127.87
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4.61000%
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30/360
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$
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1,057,396.19
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Class A-2b Notes
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$
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68,898,466.57
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4.65228%
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ACT/360
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$
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284,919.96
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Class A-3 Notes
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$
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393,600,000.00
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4.62000%
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30/360
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$
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1,515,360.00
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Class A-4 Notes
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$
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65,440,000.00
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4.66000%
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30/360
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$
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254,125.33
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Class B Notes
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$
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10,850,000.00
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4.89000%
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30/360
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$
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44,213.75
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Class C Notes
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$
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10,850,000.00
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5.09000%
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30/360
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$
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46,022.08
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Class D Notes
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$
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10,850,000.00
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5.43000%
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30/360
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$
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49,096.25
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Total Notes
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$
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835,732,594.44
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$
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3,251,133.56
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II. COLLATERAL POOL BALANCE
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Beginning of Period
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End of Period
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Net Pool Balance
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$
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862,692,671.24
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$
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828,908,224.91
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Adjusted Pool Balance (Net Pool Balance - YSOC Amount)
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$
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838,445,584.42
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$
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805,560,743.38
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Number of Receivables Outstanding
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43,357
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42,474
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Weighted Average Contract Rate
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7.56
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%
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7.56
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%
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Weighted Average Remaining Term (months)
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49.7
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48.8
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III. FUNDS AVAILABLE FOR DISTRIBUTION
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Available Funds:
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a. Collections
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Interest Collections
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$
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5,454,738.66
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Principal Collections
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$
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33,542,241.24
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Liquidation Proceeds
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$
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211,189.69
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b. Repurchase Price
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$
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-
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c. Optional Purchase Price
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$
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-
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d. Reserve Account Excess Amount
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$
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-
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Total Available Funds
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$
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39,208,169.59
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Reserve Account Draw Amount
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$
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-
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Total Funds Available for Distribution
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$
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39,208,169.59
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IV. DISTRIBUTION
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Calculated Amount
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Amount Paid
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Shortfall
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Carryover Shortfall
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Remaining Available Funds
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Servicing Fee
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$
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718,910.56
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$
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718,910.56
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$
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-
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$
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-
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$
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38,489,259.03
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Interest - Class A-1 Notes
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$
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-
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$
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-
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$
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-
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$
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-
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$
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38,489,259.03
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Interest - Class A-2a Notes
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$
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1,057,396.19
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$
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1,057,396.19
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$
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-
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$
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-
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$
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37,431,862.84
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Interest - Class A-2b Notes
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$
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284,919.96
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$
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284,919.96
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$
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-
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$
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-
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$
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37,146,942.88
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Interest - Class A-3 Notes
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$
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1,515,360.00
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$
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1,515,360.00
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$
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-
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$
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-
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$
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35,631,582.88
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Interest - Class A-4 Notes
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$
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254,125.33
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$
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254,125.33
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$
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-
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$
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-
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$
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35,377,457.55
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First Allocation of Principal
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$
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-
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$
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-
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$
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-
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$
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-
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$
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35,377,457.55
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Interest - Class B Notes
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$
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44,213.75
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$
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44,213.75
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$
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-
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$
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-
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$
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35,333,243.80
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Second Allocation of Principal
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$
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8,471,851.06
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$
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8,471,851.06
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$
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-
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$
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-
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$
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26,861,392.74
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Interest - Class C Notes
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$
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46,022.08
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$
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46,022.08
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$
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-
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$
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-
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$
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26,815,370.66
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Third Allocation of Principal
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$
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10,850,000.00
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$
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10,850,000.00
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$
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-
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$
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-
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$
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15,965,370.66
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Interest - Class D Notes
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$
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49,096.25
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$
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49,096.25
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$
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-
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$
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-
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$
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15,916,274.41
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Fourth Allocation of Principal
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$
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10,850,000.00
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$
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10,850,000.00
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$
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-
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$
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-
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$
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5,066,274.41
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Reserve Account Deposit Amount
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$
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-
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$
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-
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$
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-
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$
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-
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$
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5,066,274.41
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Regular Principal Distribution Amount
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$
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2,712,989.98
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$
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2,712,989.98
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$
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-
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$
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-
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$
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2,353,284.43
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Owner Trustee, Indenture Trustee, and ARR Fees & Expenses
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$
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-
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$
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-
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$
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-
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$
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-
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$
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2,353,284.43
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Remaining Funds to Certificates
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$
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2,353,284.43
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$
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2,353,284.43
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$
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-
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$
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-
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$
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-
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Total
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$
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39,208,169.59
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$
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39,208,169.59
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$
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-
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$
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-
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V. OVERCOLLATERALIZATION INFORMATION
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Yield Supplement Overcollateralization Amount:
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Beginning Period YSOC Amount
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$
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24,247,086.82
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Increase/(Decrease)
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$
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(899,605.29)
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Ending YSOC Amount
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$
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23,347,481.53
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Overcollateralization:
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Beginning of Period
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End of Period
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Adjusted Pool Balance
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$
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838,445,584.42
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$
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805,560,743.38
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Note Balance
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$
|
835,732,594.44
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$
|
802,847,753.40
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Overcollateralization (Adjusted Pool Balance - Note Balance)
|
$
|
2,712,989.98
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|
$
|
2,712,989.98
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Target Overcollateralization Amount
|
$
|
2,712,989.98
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|
$
|
2,712,989.98
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Overcollateralization Shortfall
|
$
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-
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$
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-
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VI. RESERVE ACCOUNT
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Specified Reserve Account Balance
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$
|
2,712,989.98
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Beginning Reserve Account Balance
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$
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2,712,989.98
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Reserve Account Deposit Amount
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$
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-
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Reserve Account Draw Amount
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$
|
-
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Reserve Account Excess Amount
|
$
|
-
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Ending Reserve Account Balance
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$
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2,712,989.98
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VII. NET LOSS AND DELINQUENT RECEIVABLES
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Net Loss:
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% of EOP Net Pool Balance
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# of Receivables
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Amount
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Defaulted Receivables during Collection Period (Principal Balance)1
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0.03%
|
18
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$
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242,205.09
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Liquidation Proceeds of Defaulted Receivables2
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0.03%
|
65
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$
|
211,189.69
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Monthly Net Losses (Liquidation Proceeds)
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$
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31,015.40
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Net Losses as % of Average Pool Balance (annualized)
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Third Preceding Collection Period
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0.33
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%
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Second Preceding Collection Period
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0.18
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%
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Preceding Collection Period
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(0.06)
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%
|
Current Collection Period
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|
0.04
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%
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Four-Month Average Net Loss Ratio
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0.12
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%
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Cumulative Net Losses for All Periods
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|
$
|
929,659.39
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Cumulative Net Loss Ratio
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|
0.08
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%
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1 The # of Receivables reported as Defaulted does not include any Receivables that have been paid off or have matured and were either paid in full or had a remaining balance of $10.00 or less following the final payment.
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2 Liquidation Proceeds include all proceeds on a receivable after it has been charged-off.
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Delinquent Receivables:
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% of EOP Net Pool Balance
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# of Receivables
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Principal Balance
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30-59 Days Delinquent
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0.09%
|
35
|
$
|
786,609.07
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60-89 Days Delinquent
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0.02%
|
6
|
$
|
154,367.69
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90-119 Days Delinquent
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0.01%
|
4
|
$
|
116,594.46
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|
120+ Days Delinquent
|
0.00%
|
0
|
$
|
-
|
|
Total Delinquent Receivables
|
0.13%
|
45
|
$
|
1,057,571.22
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Repossession Inventory:
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# of Receivables
|
Principal Balance
|
Repossessed in the Current Collection Period
|
|
6
|
$
|
141,358.09
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Total Repossessed Inventory
|
|
6
|
$
|
160,819.07
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60+ Delinquency Percentage:
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# of Receivables
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Amount
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60+ Day Delinquent Receivables
|
|
10
|
$
|
270,962.15
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60+ Delinquencies as % of EOP Net Pool Balance
|
|
|
Third Preceding Collection Period
|
|
|
0.01
|
%
|
Second Preceding Collection Period
|
|
|
0.01
|
%
|
Preceding Collection Period
|
|
|
0.03
|
%
|
Current Collection Period
|
|
|
0.03
|
%
|
Delinquency Trigger
|
|
|
4.50
|
%
|
Current Delinquency Percentage Exceeds Delinquency Trigger? (Yes/No)
|
|
No
|
VIII. TEMPORARY FORBEARANCE
The table below presents accounts which received a short-term payment extension in the month of May 2025.
|
|
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Month-End Balance
|
# of Receivables
|
|
($MM)
|
(%)
|
(#)
|
(%)
|
Total Extensions
|
0.36
|
0.04%
|
16
|
0.04%
|