Ford Credit Auto Owner Trust 2024-D
03/21/2025 | Press release | Distributed by Public on 03/21/2025 07:41
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2024-D
Monthly Investor Report
| Collection Period | February 2025 | ||||
| Payment Date | 3/17/2025 | ||||
| Transaction Month | 4 | ||||
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 | $ | 1,683,369,242.22 | 41,794 | 57.2 months | |||||||||||||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | |||||||||||||||
| Original Securities | |||||||||||||||||
| Class A-1 Notes | $ | 330,000,000.00 | 4.604 | % | December 15, 2025 | ||||||||||||
| Class A-2a Notes | $ | 407,800,000.00 | 4.59 | % | October 15, 2027 | ||||||||||||
| Class A-2b Notes | $ | 125,000,000.00 | 4.65864 | % | * | October 15, 2027 | |||||||||||
| Class A-3 Notes | $ | 532,800,000.00 | 4.61 | % | August 15, 2029 | ||||||||||||
| Class A-4 Notes | $ | 104,400,000.00 | 4.66 | % | September 15, 2030 | ||||||||||||
| Class B Notes | $ | 47,370,000.00 | 4.88 | % | September 15, 2030 | ||||||||||||
| Class C Notes | $ | 31,570,000.00 | 0.00 | % | May 15, 2032 | ||||||||||||
| Total | $ | 1,578,940,000.00 | |||||||||||||||
| * 30-day average SOFR + 0.32% | |||||||||||||||||
II. AVAILABLE FUNDS
| Interest: | |||||
| Interest Collections | $ | 6,092,500.66 | |||
| Principal: | |||||
| Principal Collections | $ | 31,164,574.24 | |||
| Prepayments in Full | $ | 15,410,217.26 | |||
| Liquidation Proceeds | $ | 210,529.81 | |||
| Recoveries | $ | 0.00 | |||
| Sub Total | $ | 46,785,321.31 | |||
| Collections | $ | 52,877,821.97 | |||
| Purchase Amounts: | |||||
| Purchase Amounts Related to Principal | $ | 46,592.28 | |||
| Purchase Amounts Related to Interest | $ | 72.68 | |||
| Sub Total | $ | 46,664.96 | |||
| Clean-up Call | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Available Funds - Total | $ | 52,924,486.93 | |||
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Ford Credit Auto Owner Trust 2024-D
Monthly Investor Report
| Collection Period | February 2025 | ||||
| Payment Date | 3/17/2025 | ||||
| Transaction Month | 4 | ||||
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 | $ | 52,924,486.93 | |||||||||||||||||||
| Servicing Fee | $ | 1,283,945.23 | $ | 1,283,945.23 | $ | 0.00 | $ | 0.00 | $ | 51,640,541.70 | |||||||||||||||||||
| Interest - Class A-1 Notes | $ | 649,833.45 | $ | 649,833.45 | $ | 0.00 | $ | 0.00 | $ | 50,990,708.25 | |||||||||||||||||||
| Interest - Class A-2a Notes | $ | 1,559,835.00 | $ | 1,559,835.00 | $ | 0.00 | $ | 0.00 | $ | 49,430,873.25 | |||||||||||||||||||
| Interest - Class A-2b Notes | $ | 436,747.50 | $ | 436,747.50 | $ | 0.00 | $ | 0.00 | $ | 48,994,125.75 | |||||||||||||||||||
| Interest - Class A-3 Notes | $ | 2,046,840.00 | $ | 2,046,840.00 | $ | 0.00 | $ | 0.00 | $ | 46,947,285.75 | |||||||||||||||||||
| Interest - Class A-4 Notes | $ | 405,420.00 | $ | 405,420.00 | $ | 0.00 | $ | 0.00 | $ | 46,541,865.75 | |||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 46,541,865.75 | |||||||||||||||||||
| Interest - Class B Notes | $ | 192,638.00 | $ | 192,638.00 | $ | 0.00 | $ | 0.00 | $ | 46,349,227.75 | |||||||||||||||||||
| Second Priority Principal Payment | $ | 2,489,156.94 | $ | 2,489,156.94 | $ | 0.00 | $ | 0.00 | $ | 43,860,070.81 | |||||||||||||||||||
| Interest - Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 43,860,070.81 | |||||||||||||||||||
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 43,860,070.81 | |||||||||||||||||||
| Regular Principal Payment | $ | 185,704,717.80 | $ | 43,860,070.81 | $ | 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 | $ | 52,924,486.93 | |||||||||||||||||||||||||||
| Principal Payment: | |||||||||||||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Second Priority Principal Payment | $ | 2,489,156.94 | |||||||||||||||||||||||||||
| Regular Principal Payment | $ | 43,860,070.81 | |||||||||||||||||||||||||||
| Total | $ | 46,349,227.75 | |||||||||||||||||||||||||||
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 | $ | 46,349,227.75 | $ | 140.45 | $ | 649,833.45 | $ | 1.97 | $ | 46,999,061.20 | $ | 142.42 | |||||||||||||||||||||||
| Class A-2a Notes | $ | 0.00 | $ | 0.00 | $ | 1,559,835.00 | $ | 3.83 | $ | 1,559,835.00 | $ | 3.83 | |||||||||||||||||||||||
| Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 436,747.50 | $ | 3.49 | $ | 436,747.50 | $ | 3.49 | |||||||||||||||||||||||
| Class A-3 Notes | $ | 0.00 | $ | 0.00 | $ | 2,046,840.00 | $ | 3.84 | $ | 2,046,840.00 | $ | 3.84 | |||||||||||||||||||||||
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 405,420.00 | $ | 3.88 | $ | 405,420.00 | $ | 3.88 | |||||||||||||||||||||||
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 192,638.00 | $ | 4.07 | $ | 192,638.00 | $ | 4.07 | |||||||||||||||||||||||
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||||||
| Total | $ | 46,349,227.75 | $ | 29.35 | $ | 5,291,313.95 | $ | 3.35 | $ | 51,640,541.70 | $ | 32.70 | |||||||||||||||||||||||
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Ford Credit Auto Owner Trust 2024-D
Monthly Investor Report
| Collection Period | February 2025 | ||||
| Payment Date | 3/17/2025 | ||||
| Transaction Month | 4 | ||||
V. NOTE BALANCE AND POOL INFORMATION
| Beginning of Period | End of Period | ||||||||||||||||||||||
| Balance | Note Factor | Balance | Note Factor | ||||||||||||||||||||
| Class A-1 Notes | $ | 188,193,874.74 | 0.5702845 | $ | 141,844,646.99 | 0.4298323 | |||||||||||||||||
| Class A-2a Notes | $ | 407,800,000.00 | 1.0000000 | $ | 407,800,000.00 | 1.0000000 | |||||||||||||||||
| Class A-2b Notes | $ | 125,000,000.00 | 1.0000000 | $ | 125,000,000.00 | 1.0000000 | |||||||||||||||||
| Class A-3 Notes | $ | 532,800,000.00 | 1.0000000 | $ | 532,800,000.00 | 1.0000000 | |||||||||||||||||
| Class A-4 Notes | $ | 104,400,000.00 | 1.0000000 | $ | 104,400,000.00 | 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 | $ | 1,437,133,874.74 | 0.9101890 | $ | 1,390,784,646.99 | 0.8808344 | |||||||||||||||||
| Pool Information | |||||||||||
| Weighted Average APR | 4.805 | % | 4.810 | % | |||||||
| Weighted Average Remaining Term | 54.77 | 53.98 | |||||||||
| Number of Receivables Outstanding | 40,042 | 39,401 | |||||||||
| Pool Balance | $ | 1,540,734,275.29 | $ | 1,493,464,766.61 | |||||||
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 1,446,940,035.08 | $ | 1,403,074,717.80 | |||||||
| Pool Factor | 0.9152682 | 0.8871879 | |||||||||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,947,368.57 | |||
| Yield Supplement Overcollateralization Amount | $ | 90,390,048.81 | |||
| Targeted Overcollateralization Amount | $ | 121,968,997.37 | |||
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 102,680,119.62 | |||
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 3,947,368.57 | |||
| Reserve Account Deposits Made | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Ending Reserve Account Balance | $ | 3,947,368.57 | |||
| Change in Reserve Account Balance | $ | 0.00 | |||
| Specified Reserve Balance | $ | 3,947,368.57 | |||
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Ford Credit Auto Owner Trust 2024-D
Monthly Investor Report
| Collection Period | February 2025 | ||||
| Payment Date | 3/17/2025 | ||||
| Transaction Month | 4 | ||||
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||||||||||||||
| Current Collection Period Loss: | |||||||||||||||||
| Realized Loss (Charge-Offs) | 56 | $ | 437,595.09 | ||||||||||||||
| (Recoveries) | 0 | $ | 0.00 | ||||||||||||||
| Net Loss for Current Collection Period | $ | 437,595.09 | |||||||||||||||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.3408 | % | |||||||||||||||
| Prior and Current Collection Periods Average Loss: | |||||||||||||||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||||||||||||||
| Third Prior Collection Period | 0.0002 | % | |||||||||||||||
| Second Prior Collection Period | 0.0180 | % | |||||||||||||||
| Prior Collection Period | 0.1267 | % | |||||||||||||||
| Current Collection Period | 0.3461 | % | |||||||||||||||
| Four Month Average (Current and Prior Three Collection Periods) | 0.1227 | % | |||||||||||||||
| Cumulative Loss: | |||||||||||||||||
| Cumulative Realized Loss (Charge-Offs) | 207 | $ | 627,115.88 | ||||||||||||||
| (Cumulative Recoveries) | $ | 0.00 | |||||||||||||||
| Cumulative Net Loss for All Collection Periods | $ | 627,115.88 | |||||||||||||||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.0373 | % | |||||||||||||||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 3,029.55 | |||||||||||||||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 3,029.55 | |||||||||||||||
| % of EOP Pool Balance | # of Receivables | Amount | |||||||||||||||
| Delinquent Receivables: | |||||||||||||||||
| 31-60 Days Delinquent | 0.47 | % | 149 | $ | 7,003,893.82 | ||||||||||||
| 61-90 Days Delinquent | 0.07 | % | 25 | $ | 1,014,181.34 | ||||||||||||
| 91-120 Days Delinquent | 0.03 | % | 6 | $ | 389,326.88 | ||||||||||||
| Over 120 Days Delinquent | 0.00 | % | 1 | $ | 7,105.85 | ||||||||||||
| Total Delinquent Receivables | 0.56 | % | 181 | $ | 8,414,507.89 | ||||||||||||
| Repossession Inventory: | |||||||||||||||||
| Repossessed in the Current Collection Period | 11 | $ | 562,958.81 | ||||||||||||||
| Total Repossessed Inventory | 15 | $ | 823,880.91 | ||||||||||||||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||||||||||||||
| Second Prior Collection Period | 0.0516 | % | |||||||||||||||
| Prior Collection Period | 0.0824 | % | |||||||||||||||
| Current Collection Period | 0.0812 | % | |||||||||||||||
| Three Month Average | 0.0718 | % | |||||||||||||||
| 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 | 0.0945 | % | |||||||||||||||
| Delinquency Trigger Occurred | No | ||||||||||||||||
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Ford Credit Auto Owner Trust 2024-D
Monthly Investor Report
| Collection Period | February 2025 | ||||
| Payment Date | 3/17/2025 | ||||
| Transaction Month | 4 | ||||
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount | ||||||||||||
| 1 Month Extended | 87 | $3,871,914.17 | ||||||||||||
| 2 Months Extended | 91 | $4,518,455.66 | ||||||||||||
| 3+ Months Extended | 18 | $749,799.04 | ||||||||||||
| Total Receivables Extended | 196 | $9,140,168.87 | ||||||||||||
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 | ||||
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-D published this content on March 21, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on March 21, 2025 at 13:42 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]