Toyota Auto Receivables 2023-C Owner Trust
04/28/2026 | Press release | Distributed by Public on 04/28/2026 08:36
Asset-Backed Issuer Distribution Report (Form 10-D)
Servicer's Certificate
for the Collection Period March 01, 2026 through March 31, 2026
for Payment Date of April 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
30 |
Actual/360 Days |
30 |
| Class |
Initial Principal Balance |
Final Scheduled Payment Date |
Beginning Principal Balance |
Beginning Principal Factor |
First Priority Principal Distribution Amount |
Second Priority Principal Distribution Amount |
Regular Principal Distribution Amount |
Ending Principal Balance |
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 | $250,366,589.22 | 0.4746286 | $0.00 | $14,339,497.16 | $13,600,053.41 | $222,427,038.65 | 0.4216626 | |||||||||||||||||||||||||||
| 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 | $423,366,589.22 | $0.00 | $14,339,497.16 | $13,600,053.41 | $395,427,038.65 | 0.2471419 | |||||||||||||||||||||||||||||
| 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 | 4.07223% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-3 | 5.16000% | $1,076,576.33 | $0.00 | $1,076,576.33 | $0.00 | $29,016,126.90 | ||||||||||||||||||||
| 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 | $1,631,851.33 | $0.00 | $1,631,851.33 | $0.00 | $29,571,401.90 | |||||||||||||||||||||
Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
|
Initial Deposit Amount |
$4,000,015.71 |
Beginning Period Amount |
$23,170,065.54 | |||||||
|
Specified Reserve Account Amount |
$4,000,015.71 |
Increase/(Decrease) |
$(2,184,329.10 | ) | ||||||
|
Beginning Balance |
$4,000,015.71 |
Ending Period Amount |
$20,985,736.44 | |||||||
|
Withdrawals |
$0.00 | |||||||||
|
Amount Available for Deposit |
$15,726,782.60 | Overcollateralization | ||||||||
|
Amount Deposited to the Reserve Account |
$0.00 | |||||||||
|
Reserve Account Balance Prior to Release |
$4,000,015.71 |
Adjusted Pool Balance |
$409,027,092.06 | |||||||
|
Reserve Account Required Amount |
$4,000,015.71 |
Total Note Balance |
$395,427,038.65 | |||||||
|
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 March 01, 2026 through March 31, 2026
for Payment Date of April 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
30 |
Actual/360 Days |
30 |
Liquidations of Charge-offs and Repossessions
| Cumulative | ||||||||||||||||||||
| Current Period Only | Current Period | Prior Period | Two Periods Prior | Three Periods Prior | ||||||||||||||||
|
Number of Liquidated Receivables |
25 | 958 | 933 | 912 | 883 | |||||||||||||||
|
Gross Principal of Liquidated Receivables |
$380,036.27 | $24,417,389.37 | $24,037,353.10 | $23,553,516.14 | $22,892,468.11 | |||||||||||||||
|
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 |
$(9,527.42 | ) | $(2,739,199.77 | ) | $(2,729,672.35 | ) | $(2,697,008.84 | ) | $(2,625,810.77 | ) | ||||||||||
|
Recoveries on Previously Liquidated Contracts |
$(458,707.54 | ) | $(11,313,796.82 | ) | $(10,855,089.28 | ) | $(10,644,027.81 | ) | $(10,476,649.74 | ) | ||||||||||
|
Net Credit Losses |
$(88,198.69 | ) | $10,257,804.80 | $10,346,003.49 | $10,105,891.51 | $9,683,419.62 | ||||||||||||||
|
Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
1.45734% | 1.41931% | 1.38737% | 1.34325% | ||||||||||||||||
|
Number of Accounts with Liquidation Proceeds or Recoveries |
926 | 898 | 870 | 848 | ||||||||||||||||
|
Ratio of Aggregate Net Losses to Average Portfolio Balance |
1.00823% | 0.99887% | 0.95851% | 0.90227% | ||||||||||||||||
|
Number of Assets Experiencing a Net Loss |
855 | 835 | 816 | 790 | ||||||||||||||||
|
Net Credit Losses for Assets Experiencing a Loss |
$10,302,515.42 | $10,387,040.80 | $10,146,772.21 | $9,724,227.04 | ||||||||||||||||
|
Average Net Loss on all assets that have Experienced a Net Loss |
$12,049.73 | $12,439.57 | $12,434.77 | $12,309.15 | ||||||||||||||||
|
Cumulative Net Loss Ratio |
0.57574% | 0.58069% | 0.56721% | 0.54350% | ||||||||||||||||
|
Repossessed in Current Period |
7 vehicles | |||||||||||||||||||
Pool Data
| Original | Prior Month | Current Month | ||||||||||||||
|
Receivables Pool Balance |
$1,781,678,265.26 | $460,136,708.17 | $430,012,828.50 | |||||||||||||
|
Number of Contracts |
65,736 | 35,780 | 34,776 | |||||||||||||
|
Weighted Average APR |
4.64% | 4.92% | 4.95% | |||||||||||||
|
Weighted Average Remaining Term (Months) |
55.40 | 26.93 | 26.14 | |||||||||||||
Page 2 of 5
Servicer's Certificate
for the Collection Period March 01, 2026 through March 31, 2026
for Payment Date of April 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
30 |
Actual/360 Days |
30 |
Collections
|
Principal Payments Received |
$21,657,928.22 | |||
|
Prepayments in Full |
$8,085,915.18 | |||
|
Interest Payments Received |
$1,869,499.99 | |||
|
Aggregate Net Liquidation Proceeds |
$468,234.96 | |||
|
Interest on Repurchased Contracts |
$0.00 | |||
|
Total Collections |
$32,081,578.35 | |||
|
Principal of Repurchased Contracts |
$0.00 | |||
|
Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
|
Adjustment on Repurchased Contracts |
$0.00 | |||
|
Total Repurchased Amount |
$0.00 | |||
|
Total Available Collections |
$32,081,578.35 |
Distributions
|
Calculated Amount |
Amount Paid |
Shortfall |
||||||||
|
Servicing Fee |
$383,447.26 | $383,447.26 | $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 |
$1,076,576.33 | $1,076,576.33 | $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 |
$14,339,497.16 | $14,339,497.16 | $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 |
$2,126,729.19 | $2,126,729.19 | N/A | |||||||
Page 3 of 5
Servicer's Certificate
for the Collection Period March 01, 2026 through March 31, 2026
for Payment Date of April 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
30 |
Actual/360 Days |
30 |
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 |
$1,076,576.33 | $2.04 | $27,939,550.57 | $52.97 | $29,016,126.90 | $55.01 | ||||||||||||||||||||||||||||
|
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 |
1.04% | 363 | 1.62% | $6,949,625.71 | ||||||||||||
|
60-89 Days Delinquent |
0.24% | 82 | 0.40% | $1,739,493.05 | ||||||||||||
|
90-119 Days Delinquent |
0.09% | 31 | 0.14% | $593,520.39 | ||||||||||||
|
120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
|
Total Delinquencies |
1.37% | 476 | 2.16% | $9,282,639.15 | ||||||||||||
|
Total Delinquencies - Prior Period |
1.30% | 1.99% | ||||||||||||||
|
Total Delinquencies - Two Months Prior |
1.52% | 2.30% | ||||||||||||||
|
Total Delinquencies - Three Months Prior |
1.45% | 2.19% | ||||||||||||||
|
Receivables Pool Balance |
$430,012,828.50 | |||||||||||||||
|
60-Day Delinquency Percentage |
0.54% | |||||||||||||||
|
Delinquency Trigger Percentage |
4.65% | |||||||||||||||
|
Has a Delinquency Trigger occurred in this Collection Period? |
No | |||||||||||||||
|
Repossessed Vehicle Inventory* |
11 vehicles | |||||||||||||||
|
* Included with Delinquencies Above |
||||||||||||||||
Page 4 of 5
Servicer's Certificate
for the Collection Period March 01, 2026 through March 31, 2026
for Payment Date of April 15, 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 April 28, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 28, 2026 at 14:37 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]