Ford Credit Auto Owner Trust 2024-A
10/22/2024 | Press release | Distributed by Public on 10/22/2024 08:50
Asset Backed Issuer Distribution Report Form 10 D
Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| Collection Period | September 2024 |
| Payment Date | 10/15/2024 |
| Transaction Month | 7 |
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 | $ | 1,696,683,364.30 | 46,551 | 55.8 months | ||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | ||||
| Original Securities | ||||||
| Class A-1 Notes | $ | 305,000,000.00 | 5.524 | % | April 15, 2025 | |
| Class A-2a Notes | $ | 150,000,000.00 | 5.32 | % | January 15, 2027 | |
| Class A-2b Notes | $ | 410,000,000.00 | 5.70207 | % | * | January 15, 2027 |
| Class A-3 Notes | $ | 560,000,000.00 | 5.09 | % | December 15, 2028 | |
| Class A-4 Notes | $ | 75,000,000.00 | 5.01 | % | September 15, 2029 | |
| Class B Notes | $ | 47,350,000.00 | 5.26 | % | November 15, 2029 | |
| Class C Notes | $ | 31,560,000.00 | 0.00 | % | September 15, 2031 | |
| Total | $ | 1,578,910,000.00 | ||||
| * 30-day average SOFR + 0.36% |
II. AVAILABLE FUNDS
| Interest: | ||
| Interest Collections | $ | 5,675,844.93 |
| Principal: | ||
| Principal Collections | $ | 31,191,966.72 |
| Prepayments in Full | $ | 12,973,809.55 |
| Liquidation Proceeds | $ | 385,388.20 |
| Recoveries | $ | 1,939.03 |
| Sub Total | $ | 44,553,103.50 |
| Collections | $ | 50,228,948.43 |
| Purchase Amounts: | ||
| Purchase Amounts Related to Principal | $ | 146,659.71 |
| Purchase Amounts Related to Interest | $ | 763.85 |
| Sub Total | $ | 147,423.56 |
| Clean-up Call | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Available Funds - Total | $ | 50,376,371.99 |
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Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| Collection Period | September 2024 |
| Payment Date | 10/15/2024 |
| Transaction Month | 7 |
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 | $ | 50,376,371.99 |
| Servicing Fee | $ | 1,163,108.31 | $ | 1,163,108.31 | $ | 0.00 | $ | 0.00 | $ | 49,213,263.68 |
| Interest - Class A-1 Notes | $ | 57,723.98 | $ | 57,723.98 | $ | 0.00 | $ | 0.00 | $ | 49,155,539.70 |
| Interest - Class A-2a Notes | $ | 665,000.00 | $ | 665,000.00 | $ | 0.00 | $ | 0.00 | $ | 48,490,539.70 |
| Interest - Class A-2b Notes | $ | 1,883,267.01 | $ | 1,883,267.01 | $ | 0.00 | $ | 0.00 | $ | 46,607,272.69 |
| Interest - Class A-3 Notes | $ | 2,375,333.33 | $ | 2,375,333.33 | $ | 0.00 | $ | 0.00 | $ | 44,231,939.36 |
| Interest - Class A-4 Notes | $ | 313,125.00 | $ | 313,125.00 | $ | 0.00 | $ | 0.00 | $ | 43,918,814.36 |
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 43,918,814.36 |
| Interest - Class B Notes | $ | 207,550.83 | $ | 207,550.83 | $ | 0.00 | $ | 0.00 | $ | 43,711,263.53 |
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 43,711,263.53 |
| Interest - Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 43,711,263.53 |
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 43,711,263.53 |
| Regular Principal Payment | $ | 73,665,537.57 | $ | 43,711,263.53 | $ | 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 | $ | 50,376,371.99 | ||||||||
| Principal Payment: | ||||||||||
| First Priority Principal Payment | $ | 0.00 | ||||||||
| Second Priority Principal Payment | $ | 0.00 | ||||||||
| Regular Principal Payment | $ | 43,711,263.53 | ||||||||
| Total | $ | 43,711,263.53 | ||||||||
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 | $ | 12,972,005.33 | $ | 42.53 | $ | 57,723.98 | $ | 0.19 | $ | 13,029,729.31 | $ | 42.72 |
| Class A-2a Notes | $ | 8,233,729.88 | $ | 54.89 | $ | 665,000.00 | $ | 4.43 | $ | 8,898,729.88 | $ | 59.32 |
| Class A-2b Notes | $ | 22,505,528.32 | $ | 54.89 | $ | 1,883,267.01 | $ | 4.59 | $ | 24,388,795.33 | $ | 59.48 |
| Class A-3 Notes | $ | 0.00 | $ | 0.00 | $ | 2,375,333.33 | $ | 4.24 | $ | 2,375,333.33 | $ | 4.24 |
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 313,125.00 | $ | 4.18 | $ | 313,125.00 | $ | 4.18 |
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 207,550.83 | $ | 4.38 | $ | 207,550.83 | $ | 4.38 |
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 |
| Total | $ | 43,711,263.53 | $ | 27.68 | $ | 5,502,000.15 | $ | 3.48 | $ | 49,213,263.68 | $ | 31.16 |
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Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| Collection Period | September 2024 |
| Payment Date | 10/15/2024 |
| Transaction Month | 7 |
V. NOTE BALANCE AND POOL INFORMATION
| Beginning of Period | End of Period | |||||
| Balance | Note Factor | Balance | Note Factor | |||
| Class A-1 Notes | $ | 12,972,005.33 | 0.0425312 | $ | 0.00 | 0.0000000 |
| Class A-2a Notes | $ | 150,000,000.00 | 1.0000000 | $ | 141,766,270.12 | 0.9451085 |
| Class A-2b Notes | $ | 410,000,000.00 | 1.0000000 | $ | 387,494,471.68 | 0.9451085 |
| Class A-3 Notes | $ | 560,000,000.00 | 1.0000000 | $ | 560,000,000.00 | 1.0000000 |
| Class A-4 Notes | $ | 75,000,000.00 | 1.0000000 | $ | 75,000,000.00 | 1.0000000 |
| Class B Notes | $ | 47,350,000.00 | 1.0000000 | $ | 47,350,000.00 | 1.0000000 |
| Class C Notes | $ | 31,560,000.00 | 1.0000000 | $ | 31,560,000.00 | 1.0000000 |
| Total | $ | 1,286,882,005.33 | 0.8150446 | $ | 1,243,170,741.80 | 0.7873601 |
| Pool Information | ||||
| Weighted Average APR | 4.858 | % | 4.872 | % |
| Weighted Average Remaining Term | 51.21 | 50.44 | ||
| Number of Receivables Outstanding | 41,547 | 40,636 | ||
| Pool Balance | $ | 1,395,729,977.17 | $ | 1,350,756,893.56 |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 1,302,335,672.65 | $ | 1,261,108,816.34 |
| Pool Factor | 0.8226225 | 0.7961161 | ||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,947,285.02 |
| Yield Supplement Overcollateralization Amount | $ | 89,648,077.22 |
| Targeted Overcollateralization Amount | $ | 137,540,425.80 |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 107,586,151.76 |
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 3,947,285.02 |
| Reserve Account Deposits Made | $ | 0.00 |
| Reserve Account Draw Amount | $ | 0.00 |
| Ending Reserve Account Balance | $ | 3,947,285.02 |
| Change in Reserve Account Balance | $ | 0.00 |
| Specified Reserve Balance | $ | 3,947,285.02 |
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Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| Collection Period | September 2024 |
| Payment Date | 10/15/2024 |
| Transaction Month | 7 |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||
| Current Collection Period Loss: | |||||
| Realized Loss (Charge-Offs) | 73 | $ | 275,259.43 | ||
| (Recoveries) | 6 | $ | 1,939.03 | ||
| Net Loss for Current Collection Period | $ | 273,320.40 | |||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.2350 | % | |||
| Prior and Current Collection Periods Average Loss: | |||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||
| Third Prior Collection Period | 0.0835 | % | |||
| Second Prior Collection Period | 0.3442 | % | |||
| Prior Collection Period | 0.3921 | % | |||
| Current Collection Period | 0.2388 | % | |||
| Four Month Average (Current and Prior Three Collection Periods) | 0.2647 | % | |||
| Cumulative Loss: | |||||
| Cumulative Realized Loss (Charge-Offs) | 456 | $ | 1,320,264.67 | ||
| (Cumulative Recoveries) | $ | 19,077.34 | |||
| Cumulative Net Loss for All Collection Periods | $ | 1,301,187.33 | |||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.0767 | % | |||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 2,895.32 | |||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 2,853.48 | |||
| % of EOP Pool Balance | # of Receivables | Amount | |||
| Delinquent Receivables: | |||||
| 31-60 Days Delinquent | 0.56 | % | 189 | $ | 7,526,863.95 |
| 61-90 Days Delinquent | 0.08 | % | 27 | $ | 1,080,820.94 |
| 91-120 Days Delinquent | 0.02 | % | 7 | $ | 298,332.68 |
| Over 120 Days Delinquent | 0.01 | % | 2 | $ | 149,768.86 |
| Total Delinquent Receivables | 0.67 | % | 225 | $ | 9,055,786.43 |
| Repossession Inventory: | |||||
| Repossessed in the Current Collection Period | 16 | $ | 719,780.58 | ||
| Total Repossessed Inventory | 26 | $ | 1,150,496.28 | ||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||
| Second Prior Collection Period | 0.0894 | % | |||
| Prior Collection Period | 0.0842 | % | |||
| Current Collection Period | 0.0886 | % | |||
| Three Month Average | 0.0874 | % | |||
| 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 | 0.1132 | % | |||
| Delinquency Trigger Occurred | No |
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Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| Collection Period | September 2024 |
| Payment Date | 10/15/2024 |
| Transaction Month | 7 |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| 1 Month Extended | 102 | $4,236,545.61 |
| 2 Months Extended | 102 | $4,848,774.18 |
| 3+ Months Extended | 18 | $622,291.36 |
| Total Receivables Extended | 222 | $9,707,611.15 |
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 5, 2024 |
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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