Toyota Auto Receivables 2023-C Owner Trust
03/27/2026 | Press release | Distributed by Public on 03/27/2026 08:41
Asset-Backed Issuer Distribution Report (Form 10-D)
Servicer's Certificate
for the Collection Period February 01, 2026 through February 28, 2026
for Payment Date of March 16, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
28 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
27 |
Actual/360 Days |
27 |
| Class |
Initial Principal Balance |
Final Scheduled Payment Date |
Beginning
Principal |
Beginning Principal Factor |
First Priority Principal Distribution Amount |
Second
Priority |
Regular Principal Distribution Amount |
Ending
Principal |
Ending Principal Factor |
|||||||||||||||||||||||||||
| A-1 | $305,000,000.00 | 8/15/24 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2a | $405,026,000.00 | 8/17/26 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2b | $189,474,000.00 | 8/17/26 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-3 | $527,500,000.00 | 4/17/28 | $275,536,625.97 | 0.5223443 | $0.00 | $11,569,983.34 | $13,600,053.41 | $250,366,589.22 | 0.4746286 | |||||||||||||||||||||||||||
| A-4 | $133,000,000.00 | 2/15/29 | $133,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $133,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| B | $40,000,000.00 | 3/15/30 | $40,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $40,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| Total | $1,600,000,000.00 | $448,536,625.97 | $0.00 | $11,569,983.34 | $13,600,053.41 | $423,366,589.22 | 0.2646041 | |||||||||||||||||||||||||||||
| Class | Interest Rate |
Interest Distributable Amount |
Prior Interest Carryover |
Interest Distribution Amount |
Current Interest Carryover |
Total Principal & Interest Distribution |
||||||||||||||||||||
| A-1 | 5.60400% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2a | 5.60000% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2b | 4.05819% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-3 | 5.16000% | $1,184,807.49 | $0.00 | $1,184,807.49 | $0.00 | $26,354,844.24 | ||||||||||||||||||||
| A-4 | 5.01000% | $555,275.00 | $0.00 | $555,275.00 | $0.00 | $555,275.00 | ||||||||||||||||||||
| B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||
| Total | $1,740,082.49 | $0.00 | $1,740,082.49 | $0.00 | $26,910,119.24 | |||||||||||||||||||||
Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
|
Initial Deposit Amount |
$4,000,015.71 |
Beginning Period Amount |
$25,312,853.59 | |||||||
|
Specified Reserve Account Amount |
$4,000,015.71 |
Increase/(Decrease) |
$(2,142,788.05 | ) | ||||||
|
Beginning Balance |
$4,000,015.71 |
Ending Period Amount |
$23,170,065.54 | |||||||
|
Withdrawals |
$0.00 | |||||||||
|
Amount Available for Deposit |
$15,271,404.62 | Overcollateralization | ||||||||
|
Amount Deposited to the Reserve Account |
$0.00 | |||||||||
|
Reserve Account Balance Prior to Release |
$4,000,015.71 |
Adjusted Pool Balance |
$436,966,642.63 | |||||||
|
Reserve Account Required Amount |
$4,000,015.71 |
Total Note Balance |
$423,366,589.22 | |||||||
|
Reserve Account Release to Seller |
$0.00 |
Ending Overcollateralization Amount |
$13,600,053.41 | |||||||
|
Ending Reserve Account Balance |
$4,000,015.71 |
Overcollateralization Target Amount |
$13,600,053.41 | |||||||
Page 1 of 5
Servicer's Certificate
for the Collection Period February 01, 2026 through February 28, 2026
for Payment Date of March 16, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
28 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
27 |
Actual/360 Days |
27 |
Liquidations of Charge-offs and Repossessions
| Cumulative | ||||||||||||||||||||
| Current Period Only | Current Period | Prior Period | Two Periods Prior | Three Periods Prior | ||||||||||||||||
|
Number of Liquidated Receivables |
21 | 933 | 912 | 883 | 859 | |||||||||||||||
|
Gross Principal of Liquidated Receivables |
$483,836.96 | $24,037,353.10 | $23,553,516.14 | $22,892,468.11 | $22,401,077.74 | |||||||||||||||
|
Principal of Repurchased Contracts, previously charged-off |
$0.00 | $(106,587.98 | ) | $(106,587.98 | ) | $(106,587.98 | ) | $(106,587.98 | ) | |||||||||||
|
Net Liquidation Proceeds Received During the Collection Period |
$(32,663.51 | ) | $(2,729,672.35 | ) | $(2,697,008.84 | ) | $(2,625,810.77 | ) | $(2,461,401.58 | ) | ||||||||||
|
Recoveries on Previously Liquidated Contracts |
$(211,061.47 | ) | $(10,855,089.28 | ) | $(10,644,027.81 | ) | $(10,476,649.74 | ) | $(10,105,022.75 | ) | ||||||||||
|
Net Credit Losses |
$240,111.98 | $10,346,003.49 | $10,105,891.51 | $9,683,419.62 | $9,728,065.43 | |||||||||||||||
|
Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
1.41931% | 1.38737% | 1.34325% | 1.30674% | ||||||||||||||||
|
Number of Accounts with Liquidation Proceeds or Recoveries |
898 | 870 | 848 | 827 | ||||||||||||||||
|
Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.99887% | 0.95851% | 0.90227% | 0.89051% | ||||||||||||||||
|
Number of Assets Experiencing a Net Loss |
835 | 816 | 790 | 768 | ||||||||||||||||
|
Net Credit Losses for Assets Experiencing a Loss |
$10,387,040.80 | $10,146,772.21 | $9,724,227.04 | $9,768,305.11 | ||||||||||||||||
|
Average Net Loss on all assets that have Experienced a Net Loss |
$12,439.57 | $12,434.77 | $12,309.15 | $12,719.15 | ||||||||||||||||
|
Cumulative Net Loss Ratio |
0.58069% | 0.56721% | 0.54350% | 0.54601% | ||||||||||||||||
|
Repossessed in Current Period |
11 vehicles | |||||||||||||||||||
Pool Data
| Original | Prior Month | Current Month | ||||||||||||||
|
Receivables Pool Balance |
$1,781,678,265.26 | $487,449,532.97 | $460,136,708.17 | |||||||||||||
|
Number of Contracts |
65,736 | 36,723 | 35,780 | |||||||||||||
|
Weighted Average APR |
4.64% | 4.90% | 4.92% | |||||||||||||
|
Weighted Average Remaining Term (Months) |
55.40 | 27.75 | 26.93 | |||||||||||||
Page 2 of 5
Servicer's Certificate
for the Collection Period February 01, 2026 through February 28, 2026
for Payment Date of March 16, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
28 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
27 |
Actual/360 Days |
27 |
Collections
|
Principal Payments Received |
$19,604,290.98 | |||
|
Prepayments in Full |
$7,207,892.95 | |||
|
Interest Payments Received |
$1,914,909.44 | |||
|
Aggregate Net Liquidation Proceeds |
$243,724.98 | |||
|
Interest on Repurchased Contracts |
$56.13 | |||
|
Total Collections |
$28,970,874.48 | |||
|
Principal of Repurchased Contracts |
$16,803.91 | |||
|
Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
|
Adjustment on Repurchased Contracts |
$0.00 | |||
|
Total Repurchased Amount |
$16,803.91 | |||
|
Total Available Collections |
$28,987,678.39 |
Distributions
|
Calculated Amount |
Amount Paid |
Shortfall |
||||||||
|
Servicing Fee |
$406,207.94 | $406,207.94 | $0.00 | |||||||
|
Trustee and Other Fees/Expenses (capped at $300,000.00 per calendar year) |
||||||||||
|
Indenture Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Owner Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Asset Representations Reviewer |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Interest - Class A-1 Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class A-2a Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class A-2b Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class A-3 Notes |
$1,184,807.49 | $1,184,807.49 | $0.00 | |||||||
|
Interest - Class A-4 Notes |
$555,275.00 | $555,275.00 | $0.00 | |||||||
|
First Priority Principal Distribution Amount |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class B Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Second Priority Principal Distribution Amount |
$11,569,983.34 | $11,569,983.34 | $0.00 | |||||||
|
Reserve Account Deposit |
$0.00 | $0.00 | $0.00 | |||||||
|
Regular Principal Distribution Amount |
$13,600,053.41 | $13,600,053.41 | $0.00 | |||||||
|
Additional Trustee and Other Fees/Expenses |
||||||||||
|
Indenture Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Owner Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Asset Representations Reviewer |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Excess Amounts to the Certificateholder |
$1,671,351.21 | $1,671,351.21 | N/A | |||||||
Page 3 of 5
Servicer's Certificate
for the Collection Period February 01, 2026 through February 28, 2026
for Payment Date of March 16, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
28 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
27 |
Actual/360 Days |
27 |
Noteholder Distributions
|
Interest Distributed |
Per $1000 of Original Balance |
Principal Distributed |
Per $1000 of Original Balance |
Amount Distributed |
Per $1000 of Original Balance |
|||||||||||||||||||||||||||||
|
Class A-1 Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||||||||||
|
Class A-2a Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||||||||||
|
Class A-2b Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||||||||||
|
Class A-3 Notes |
$1,184,807.49 | $2.25 | $25,170,036.75 | $47.72 | $26,354,844.24 | $49.97 | ||||||||||||||||||||||||||||
|
Class A-4 Notes |
$555,275.00 | $4.18 | $0.00 | $0.00 | $555,275.00 | $4.18 | ||||||||||||||||||||||||||||
|
Class B Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||||||||||
Delinquent and Repossessed Contracts
|
Percentage of Current Month Number of Contracts |
Units |
Percentage of Current Month Receivables Pool Balance |
Balance | |||||||||||||
|
30-59 Days Delinquent |
0.92% | 330 | 1.41% | $6,485,062.29 | ||||||||||||
|
60-89 Days Delinquent |
0.29% | 105 | 0.46% | $2,123,047.19 | ||||||||||||
|
90-119 Days Delinquent |
0.09% | 32 | 0.12% | $531,848.02 | ||||||||||||
|
120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
|
Total Delinquencies |
1.30% | 467 | 1.99% | $9,139,957.50 | ||||||||||||
|
Total Delinquencies - Prior Period |
1.52% | 2.30% | ||||||||||||||
|
Total Delinquencies - Two Months Prior |
1.45% | 2.19% | ||||||||||||||
|
Total Delinquencies - Three Months Prior |
1.46% | 2.17% | ||||||||||||||
|
Receivables Pool Balance |
$460,136,708.17 | |||||||||||||||
|
60-Day Delinquency Percentage |
0.58% | |||||||||||||||
|
Delinquency Trigger Percentage |
4.65% | |||||||||||||||
|
Has a Delinquency Trigger occurred in this Collection Period? |
No | |||||||||||||||
|
Repossessed Vehicle Inventory* |
14 vehicles | |||||||
|
* Included with Delinquencies Above |
||||||||
Page 4 of 5
Servicer's Certificate
for the Collection Period February 01, 2026 through February 28, 2026
for Payment Date of March 16, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
I hereby certify to the best of my knowledge that the report provided is true and correct.
|
/s/ Stephen Bishop |
||
| Name: | Stephen Bishop | |
| Title: | General Manager - Treasury | |
Page 5 of 5
Toyota Auto Receivables 2023-C Owner Trust published this content on March 27, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on March 27, 2026 at 14:41 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]