Capital One Prime Auto Receivables Trust 2024-1
07/15/2025 | Press release | Distributed by Public on 07/15/2025 10:48
Asset-Backed Issuer Distribution Report (Form 10-D)
CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2024-1
Statement to Securityholders
Determination Date: July 10, 2025
| Payment Date | 7/15/2025 | ||||
| Collection Period Start | 6/1/2025 | ||||
| Collection Period End | 6/30/2025 | ||||
| Interest Period Start | 6/16/2025 | ||||
| Interest Period End | 7/14/2025 | ||||
| Cut-Off Date Net Pool Balance | $ | 1,116,124,822.45 | |||
| Cut-Off Date Adjusted Pool Balance | $ | 1,085,195,990.01 | |||
I. DEAL SUMMARY
|
Beginning Note Balance |
Principal Payment | Ending Note Balance | Note Factor | Final Scheduled Payment Date | |||||||||||||
| Class A-1 Notes | $ | - | $ | - | $ | - | - | Dec-25 | |||||||||
| Class A-2a Notes | $ | 248,942,938.95 | $ | 24,744,581.08 | $ | 224,198,357.87 | 0.712193 | Oct-27 | |||||||||
| Class A-2b Notes | $ | 62,314,814.45 | $ | 6,194,005.69 | $ | 56,120,808.76 | 0.712193 | Oct-27 | |||||||||
| Class A-3 Notes | $ | 393,600,000.00 | $ | - | $ | 393,600,000.00 | 1.000000 | Jul-29 | |||||||||
| Class A-4 Notes | $ | 65,440,000.00 | $ | - | $ | 65,440,000.00 | 1.000000 | Jan-30 | |||||||||
| Class B Notes | $ | 10,850,000.00 | $ | - | $ | 10,850,000.00 | 1.000000 | Feb-30 | |||||||||
| Class C Notes | $ | 10,850,000.00 | $ | - | $ | 10,850,000.00 | 1.000000 | Apr-30 | |||||||||
| Class D Notes | $ | 10,850,000.00 | $ | - | $ | 10,850,000.00 | 1.000000 | Jan-31 | |||||||||
| Total Notes | $ | 802,847,753.40 | $ | 30,938,586.77 | $ | 771,909,166.63 | |||||||||||
| Beginning Balance | Ending Balance | Pool Factor | |||||||||||||||
| Net Pool Balance | $ | 828,908,224.91 | $ | 797,084,393.16 | 0.714153 | ||||||||||||
| YSOC Amount | $ | 23,347,481.53 | $ | 22,462,236.55 | |||||||||||||
| Adjusted Pool Balance | $ | 805,560,743.38 | $ | 774,622,156.61 | |||||||||||||
| Overcollateralization Amount (Adjusted Pool Balance - Note Balance) | $ | 2,712,989.98 | $ | 2,712,989.98 | |||||||||||||
| Reserve Account Balance | $ | 2,712,989.98 | $ | 2,712,989.98 | |||||||||||||
|
Beginning Note Balance |
Interest Rate | Accrual Methodology | Interest Payment | ||||||||||||||
| Class A-1 Notes | $ | - | 4.62200% | ACT/360 | $ | - | |||||||||||
| Class A-2a Notes | $ | 248,942,938.95 | 4.61000% | 30/360 | $ | 956,355.79 | |||||||||||
| Class A-2b Notes | $ | 62,314,814.45 | 4.62385% | ACT/360 | $ | 232,108.23 | |||||||||||
| Class A-3 Notes | $ | 393,600,000.00 | 4.62000% | 30/360 | $ | 1,515,360.00 | |||||||||||
| Class A-4 Notes | $ | 65,440,000.00 | 4.66000% | 30/360 | $ | 254,125.33 | |||||||||||
| Class B Notes | $ | 10,850,000.00 | 4.89000% | 30/360 | $ | 44,213.75 | |||||||||||
| Class C Notes | $ | 10,850,000.00 | 5.09000% | 30/360 | $ | 46,022.08 | |||||||||||
| Class D Notes | $ | 10,850,000.00 | 5.43000% | 30/360 | $ | 49,096.25 | |||||||||||
| Total Notes | $ | 802,847,753.40 | $ | 3,097,281.43 | |||||||||||||
II. COLLATERAL POOL BALANCE
| Beginning of Period | End of Period | |||||||
| Net Pool Balance | $ | 828,908,224.91 | $ | 797,084,393.16 | ||||
| Adjusted Pool Balance (Net Pool Balance - YSOC Amount) | $ | 805,560,743.38 | $ | 774,622,156.61 | ||||
| Number of Receivables Outstanding | 42,474 | 41,657 | ||||||
| Weighted Average Contract Rate | 7.56 | % | 7.57 | % | ||||
| Weighted Average Remaining Term (months) | 48.8 | 47.8 | ||||||
III. FUNDS AVAILABLE FOR DISTRIBUTION
| Available Funds: | |||||
| a. Collections | |||||
| Interest Collections | $ | 5,243,693.44 | |||
| Principal Collections | $ | 31,600,692.98 | |||
| Liquidation Proceeds | $ | 151,916.31 | |||
| b. Repurchase Price | $ | - | |||
| c. Optional Purchase Price | $ | - | |||
| d. Reserve Account Excess Amount | $ | - | |||
| Total Available Funds | $ | 36,996,302.73 | |||
| Reserve Account Draw Amount | $ | - | |||
| Total Funds Available for Distribution | $ | 36,996,302.73 | |||
IV. DISTRIBUTION
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | |||||||||||||
| Servicing Fee | $ | 690,756.85 | $ | 690,756.85 | $ | - | $ | - | $ | 36,305,545.88 | |||||||
| Interest - Class A-1 Notes | $ | - | $ | - | $ | - | $ | - | $ | 36,305,545.88 | |||||||
| Interest - Class A-2a Notes | $ | 956,355.79 | $ | 956,355.79 | $ | - | $ | - | $ | 35,349,190.09 | |||||||
| Interest - Class A-2b Notes | $ | 232,108.23 | $ | 232,108.23 | $ | - | $ | - | $ | 35,117,081.86 | |||||||
| Interest - Class A-3 Notes | $ | 1,515,360.00 | $ | 1,515,360.00 | $ | - | $ | - | $ | 33,601,721.86 | |||||||
| Interest - Class A-4 Notes | $ | 254,125.33 | $ | 254,125.33 | $ | - | $ | - | $ | 33,347,596.53 | |||||||
| First Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 33,347,596.53 | |||||||
| Interest - Class B Notes | $ | 44,213.75 | $ | 44,213.75 | $ | - | $ | - | $ | 33,303,382.78 | |||||||
| Second Allocation of Principal | $ | 6,525,596.79 | $ | 6,525,596.79 | $ | - | $ | - | $ | 26,777,785.99 | |||||||
| Interest - Class C Notes | $ | 46,022.08 | $ | 46,022.08 | $ | - | $ | - | $ | 26,731,763.91 | |||||||
| Third Allocation of Principal | $ | 10,850,000.00 | $ | 10,850,000.00 | $ | - | $ | - | $ | 15,881,763.91 | |||||||
| Interest - Class D Notes | $ | 49,096.25 | $ | 49,096.25 | $ | - | $ | - | $ | 15,832,667.66 | |||||||
| Fourth Allocation of Principal | $ | 10,850,000.00 | $ | 10,850,000.00 | $ | - | $ | - | $ | 4,982,667.66 | |||||||
| Reserve Account Deposit Amount | $ | - | $ | - | $ | - | $ | - | $ | 4,982,667.66 | |||||||
| Regular Principal Distribution Amount | $ | 2,712,989.98 | $ | 2,712,989.98 | $ | - | $ | - | $ | 2,269,677.68 | |||||||
| Owner Trustee, Indenture Trustee, and ARR Fees & Expenses | $ | - | $ | - | $ | - | $ | - | $ | 2,269,677.68 | |||||||
| Remaining Funds to Certificates | $ | 2,269,677.68 | $ | 2,269,677.68 | $ | - | $ | - | $ | - | |||||||
| Total | $ | 36,996,302.73 | $ | 36,996,302.73 | $ | - | $ | - | |||||||||
V. OVERCOLLATERALIZATION INFORMATION
| Yield Supplement Overcollateralization Amount: | |||||
| Beginning Period YSOC Amount | $ | 23,347,481.53 | |||
| Increase/(Decrease) | $ | (885,244.98) | |||
| Ending YSOC Amount | $ | 22,462,236.55 | |||
| Overcollateralization: | Beginning of Period | End of Period | ||||||
| Adjusted Pool Balance | $ | 805,560,743.38 | $ | 774,622,156.61 | ||||
| Note Balance | $ | 802,847,753.40 | $ | 771,909,166.63 | ||||
| Overcollateralization (Adjusted Pool Balance - Note Balance) | $ | 2,712,989.98 | $ | 2,712,989.98 | ||||
| Target Overcollateralization Amount | $ | 2,712,989.98 | $ | 2,712,989.98 | ||||
| Overcollateralization Shortfall | $ | - | $ | - | ||||
VI. RESERVE ACCOUNT
| Specified Reserve Account Balance | $ | 2,712,989.98 | |||
| Beginning Reserve Account Balance | $ | 2,712,989.98 | |||
| Reserve Account Deposit Amount | $ | - | |||
| Reserve Account Draw Amount | $ | - | |||
| Reserve Account Excess Amount | $ | - | |||
| Ending Reserve Account Balance | $ | 2,712,989.98 | |||
VII. NET LOSS AND DELINQUENT RECEIVABLES
| Net Loss: | % of EOP Net Pool Balance | # of Receivables | Amount | ||||||||
|
Defaulted Receivables during Collection Period (Principal Balance)1
|
0.03% | 25 | $ | 223,138.77 | |||||||
|
Liquidation Proceeds of Defaulted Receivables2
|
0.02% | 63 | $ | 151,916.31 | |||||||
| Monthly Net Losses (Liquidation Proceeds) | $ | 71,222.46 | |||||||||
| Net Losses as % of Average Pool Balance (annualized) | |||||||||||
| Third Preceding Collection Period | 0.18 | % | |||||||||
| Second Preceding Collection Period | (0.06) | % | |||||||||
| Preceding Collection Period | 0.04 | % | |||||||||
| Current Collection Period | 0.11 | % | |||||||||
| Four-Month Average Net Loss Ratio | 0.07 | % | |||||||||
| Cumulative Net Losses for All Periods | $ | 1,000,881.85 | |||||||||
| Cumulative Net Loss Ratio | 0.09 | % | |||||||||
|
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.
|
|||||||||||
| Delinquent Receivables: | % of EOP Net Pool Balance | # of Receivables | Principal Balance | ||||||||
| 30-59 Days Delinquent | 0.07% | 27 | $ | 537,140.91 | |||||||
| 60-89 Days Delinquent | 0.02% | 9 | $ | 165,337.67 | |||||||
| 90-119 Days Delinquent | 0.01% | 4 | $ | 107,190.84 | |||||||
| 120+ Days Delinquent | 0.00% | 0 | $ | - | |||||||
| Total Delinquent Receivables | 0.10% | 40 | $ | 809,669.42 | |||||||
| Repossession Inventory: | # of Receivables | Principal Balance | |||||||||
| Repossessed in the Current Collection Period | 3 | $ | 82,982.60 | ||||||||
| Total Repossessed Inventory | 4 | $ | 110,370.39 | ||||||||
| 60+ Delinquency Percentage: | # of Receivables | Amount | |||||||||
| 60+ Day Delinquent Receivables | 13 | $ | 272,528.51 | ||||||||
| 60+ Delinquencies as % of EOP Net Pool Balance | |||||||||||
| Third Preceding Collection Period | 0.01 | % | |||||||||
| Second Preceding Collection Period | 0.03 | % | |||||||||
| 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 June 2025.
| Month-End Balance | # of Receivables | |||||||||||||
| ($MM) | (%) | (#) | (%) | |||||||||||
| Total Extensions | 0.40 | 0.05% | 16 | 0.04% | ||||||||||
Capital One Prime Auto Receivables Trust 2024-1 published this content on July 15, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on July 15, 2025 at 16:49 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at support@pubt.io