Volkswagen Auto Loan Enhanced Trust 2021-1

07/21/2025 | Press release | Distributed by Public on 07/21/2025 08:04

Asset-Backed Issuer Distribution Report (Form 10-D)

Volkswagen Auto Loan Enhanced Trust 2021-1

MONTHLY SERVICER CERTIFICATE

For the collection period ended 6-30-2025

PAGE 1
A. DATES Begin End # days
1 Determination Date 7/17/2025
2 Payment Date 7/21/2025
3 Collection Period 5/31/2025 6/30/2025 31
4 Monthly Interest Period- Actual/360 6/20/2025 7/20/2025 31
5 Monthly Interest - 30/360 30
B. SUMMARY
Initial Balance Beginning Balance Principal Payment Ending Balance Note Factor
6 Class A-1 Notes 324,500,000.00 - - - -
7 Class A-2 Notes 630,000,000.00 - - - -
8 Class A-3 Notes 630,000,000.00 - - - -
9 Class A-4 Notes 165,500,000.00 112,824,204.77 17,972,899.23 94,851,305.54 0.5731197
10 Total Securities $ 1,750,000,000.00 $ 112,824,204.77 $ 17,972,899.23 $ 94,851,305.54
11 Overcollateralization 72,922,127.29 72,922,127.29 72,922,127.29
12 Adjusted Pool Balance $ 1,822,922,127.29 $ 185,746,332.06 $ 17,972,899.23 $ 167,773,432.83
13 YSOC 59,379,670.34 3,311,232.61 2,892,243.89
14 Net Pool Balance $ 1,882,301,797.63 $ 189,057,564.67 $ 17,972,899.23 $ 170,665,676.72
Per $1000 Principal & Interest Per $1000
Coupon Rate Libor Rate Interest Pmt Due Face Amount Payment Due Face Amount
15 Class A-1 Notes 0.15946 % N/A - - - -
16 Class A-2 Notes 0.49000 % N/A - - - -
17 Class A-3 Notes 1.02000 % N/A - - - -
18 Class A-4 Notes 1.26000 % N/A 118,465.42 0.7158031 18,091,364.65 109.3133816
19 Total Securities 118,465.42 18,091,364.65
C. COLLECTIONS AND AVAILABLE FUNDS
20 Scheduled Principal Payments Received 14,506,010.79
21 Scheduled Interest Payments Received 444,079.24
22 Prepayments of Principal Received 3,681,602.59
23 Liquidation Proceeds 9,613.99
24 Recoveries Received 194,732.43
25 Other Payments Received to Reduce Principal
26 Subtotal: Total Collections 18,836,039.04
27 Repurchased Receivables -
28 Reserve Account Excess Amount (Item 89) 15,703.70
29 Total Available Funds, prior to Servicer Advances 18,851,742.74
30 Servicer Advance (Item 72) -
31 Total Available Funds + Servicer Advance 18,851,742.74
32 Reserve Account Draw Amount (Item 75) -
33 Total Available Funds + Servicer Advance and Reserve Account Draw Amount 18,851,742.74
D. DISTRIBUTIONS
Distribution Summary:
34 Prior Advance Reimbursement (Item 78) -
35 Servicing Fees (Item 42) 157,547.97
36 Class A Noteholder Interest (Item 51) 118,465.42
37 Principal Distribution Amount (Item 76) 17,972,899.23
38 Amount Paid to Reserve Account to Reach Specified Balance -
39 Other Amounts Paid to Trustees -
40 Certificateholders Principal Distribution Amount -
41 Remaining Funds to Seller 602,830.12
* VCI, as Servicer, has elected to exercise its option under Section 8.1 of the Sale and Servicing Agreement to purchase the Trust Estate immediately after the monthly payment of principal and interest on July 21, 2025 (the "Redemption Date") and has deposited $94,851,305.54 into the collection account to redeem the balance of the Class A-4 Notes. Therefore, pursuant to Section 10.1 of the Indenture, the Notes will be redeemed on the Redemption Date.

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Distribution Detail: Due Shortfall Paid
42 Servicing Fees 157,547.97 - 157,547.97
Pro rata:
43 Class A-1 Interest - - -
44 Class A-2-A Interest - - -
45 Class A-3 Interest - - -
46 Class A-4 Interest 118,465.42 - 118,465.42
47 Class A-1 Interest Carryover Shortfall - - -
48 Class A-2 Interest Carryover Shortfall - - -
49 Class A-3 Interest Carryover Shortfall - - -
50 Class A-4 Interest Carryover Shortfall - - -
51 Class A Noteholder Interest 118,465.42 - 118,465.42
E. CALCULATIONS
Calculation of Principal Distribution Amount:
52 Beginning Adjusted Pool Balance 185,746,332.06
53 Beginning Net Pool Balance 189,057,564.67
54 Receipts of Scheduled Principal (14,506,010.79 )
55 Receipts of Prepaid Principal (3,681,602.59 )
56 Liquidation Proceeds (9,613.99 )
57 Other Collections of Principal -
58 Principal Amount of Repurchases -
59 Principal Amount of Defaulted Receivables (194,660.58 )
60 Ending Net Pool Balance 170,665,676.72
61 Yield Supplement Overcollateralization Amount 2,892,243.89
62 Adjusted Pool Balance 167,773,432.82
63 Less: Adjusted Pool Balance - End of Collection Period 167,773,432.83
64 Calculated Principal Distribution Amount 17,972,899.23
Calculation of Servicer Advance:
65 Available Funds, prior to Servicer Advances (Item 29) 18,851,742.74
66 Less: Prior Advance Reimbursement (Item 34) -
67 Less: Servicing Fees Paid (Item 35) 157,547.97
68 Less: Interest Paid to Noteholders (Item 36) 118,465.42
69 Less: Calculated Principal Distribution (Item 64) 17,972,899.23
70 Equals: Remaining Available Funds before Servicer Advance 602,830.12
71 Monthly Loan Payments Due on Included Units but not received (N/A if Item 70 > 0) N/A
72 Servicer Advance (If Item 70 < 0, lesser of Item 70 and Item 71, else 0) -
Calculation of Reserve Account Draw Amount:
73 Remaining Available Funds, before Reserve Account Draw (Item 70 plus Item 72) 602,830.12
74 Available Funds Shortfall Amount (If Item 73 < 0, Item 73, else 0) -
75 Reserve Account Draw Amount (If Item 74 is > 0, Lesser of Reserve Acct Balance and Item 74) -
76 Principal Distribution Amount (Item 64 - Available Funds Shortfall + Reserve Account Draw Amt) 17,972,899.23
Reconciliation of Servicer Advance:
77 Beginning Balance of Servicer Advance -
78 Less: Prior Advance Reimbursement -
79 Plus: Additional Servicer Advances for Current Period -
80 Ending Balance of Servicer Advance -
F. RESERVE ACCOUNT
Reserve Account Balances:
81 Specified Reserve Account Balance (Lesser of (a) $4,557,305.32, and (b) the aggregate note balance) 4,557,305.32
82 Initial Reserve Account Balance 4,557,305.32
83 Beginning Reserve Account Balance 4,557,305.32
84 Plus: Net Investment Income for the Collection Period 15,703.70
85 Subtotal: Reserve Fund Available for Distribution 4,573,009.02
86 Plus: Deposit of Excess Available Funds (Item 38) -
87 Less: Reserve Account Draw Amount (Item 75) -
88 Subtotal Reserve Account Balance 4,573,009.02
89 Less: Reserve Account Excess Amount to Available Funds (If Item 88 > Item 81) 15,703.70
90 Equals: Ending Reserve Account Balance 4,557,305.32
91 Change in Reserve Account Balance from Immediately Preceding Payment Date -

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G. POOL STATISTICS
Collateral Pool Balance Data: Initial Prior Period Current Period
92 Net Pool Balance 1,882,301,798 189,057,564.67 170,665,677
93 Number of Current Contracts 74,164 28,576 26,968
94 Weighted Average Loan Rate 2.98 % 2.79 % 2.81 %
95 Average Remaining Term 54.4 14.87 14.12
96 Average Original Term 64.7 67.17 67.34
97 Monthly Prepayment Rate 1.02 % 1.01 %
Outstanding
Net Credit Loss and Repossession Activity: Units Principal Balance
98 Aggregate Outstanding Principal Balance of Charged Off Receivables 20 204,274.57
99 Liquidation Proceeds on Related Vehicles 9,613.99
100 Recoveries Received on Receivables Previously Charged Off 194,732.43
101 Net Principal Losses for Current Collection Period 20 (71.85 )
102 Beginning Net Principal Losses 1,175 11,578,776.91
103 Net Principal Losses for Current Collection Period 20 (71.85 )
104 Cumulative Net Principal Losses 1,195 11,578,705.06
105 Cumulative Net Loss Ratio (Cumulative Net Principal Losses divided by $1,882,301,797.63) 0.62 %
Outstanding
Delinquencies Aging Profile - End of Period: Percentage Units Principal Balance
106 Current 98.53 % 26,713 168,160,550.56
107 31 - 60 Days Delinquent 1.21 % 204 2,058,845.84
108 61 - 90 Days Delinquent 0.26 % 51 446,280.32
109 91-120 Days Delinquent1 0.00 % - -
110 Total 100.00 % 26,968 $ 170,665,676.72
H. DELINQUENCY AND NET LOSS RATIOS
111 Ratio of Net Principal Losses to the Pool balance as of Each Collection Period Percentage
112 Current Period 0.00 %
113 Prior Period 0.02 %
114 Two Periods Prior -0.09 %
115 Three Periods Prior -0.05 %
116 Four Period Average (Current and Three Prior Collection Periods) -0.03 %
Total Delinquencies - Ratio of Principal Balance of 61-Day Delinquent Receivables to the Pool balance as of Each Collection Period Percentage
117 Current Period 0.26 %
118 Prior Period 0.28 %
119 Two Periods Prior 0.32 %
120 Three Periods Prior 0.27 %
121 Four Period Average (Current and Three Prior Collection Periods) 0.28 %
122 Delinquency Trigger 4.48 %
123 Delinquency Percentage (61-Day Delinquent Receivables) 0.26 %
124 Delinquency Trigger occurred in this collection Period? No
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
Summary of Material Breaches by the Issuer of Transaction Covenants
None in the current month
Summary of Material Changes in Practices With respect to Charge-Offs, Collections and Management of Delinquent Receivables and the Effect
of any Grace Period, Re-Aging, Re-Structuring, Partial Payments or Other Practices on Delinquency and Loss Experience
None in the current month
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