Capital One Prime Auto Receivables Trust 2024-1
03/17/2025 | Press release | Distributed by Public on 03/17/2025 09:28
Asset-Backed Issuer Distribution Report (Form 10-D)
CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2024-1
Statement to Securityholders
Determination Date: March 12, 2025
| Payment Date | 3/17/2025 | ||||
| Collection Period Start | 2/1/2025 | ||||
| Collection Period End | 2/28/2025 | ||||
| Interest Period Start | 2/18/2025 | ||||
| Interest Period End | 3/16/2025 | ||||
| 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 | $ | 54,604,642.96 | $ | 33,477,268.50 | $ | 21,127,374.46 | 0.105637 | Dec-25 | |||||||||
| Class A-2a Notes | $ | 314,800,000.00 | $ | - | $ | 314,800,000.00 | 1.000000 | Oct-27 | |||||||||
| Class A-2b Notes | $ | 78,800,000.00 | $ | - | $ | 78,800,000.00 | 1.000000 | 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 | $ | 939,794,642.96 | $ | 33,477,268.50 | $ | 906,317,374.46 | |||||||||||
| Beginning Balance | Ending Balance | Pool Factor | |||||||||||||||
| Net Pool Balance | $ | 969,537,603.30 | $ | 935,118,906.17 | 0.837826 | ||||||||||||
| YSOC Amount | $ | 27,029,970.36 | $ | 26,088,541.73 | |||||||||||||
| Adjusted Pool Balance | $ | 942,507,632.94 | $ | 909,030,364.44 | |||||||||||||
| 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 | $ | 54,604,642.96 | 4.62200% | ACT/360 | $ | 189,286.99 | |||||||||||
| Class A-2a Notes | $ | 314,800,000.00 | 4.61000% | 30/360 | $ | 1,209,356.67 | |||||||||||
| Class A-2b Notes | $ | 78,800,000.00 | 4.65864% | ACT/360 | $ | 275,325.62 | |||||||||||
| 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 | $ | 939,794,642.96 | $ | 3,582,786.69 | |||||||||||||
II. COLLATERAL POOL BALANCE
| Beginning of Period | End of Period | |||||||
| Net Pool Balance | $ | 969,537,603.30 | $ | 935,118,906.17 | ||||
| Adjusted Pool Balance (Net Pool Balance - YSOC Amount) | $ | 942,507,632.94 | $ | 909,030,364.44 | ||||
| Number of Receivables Outstanding | 46,146 | 45,303 | ||||||
| Weighted Average Contract Rate | 7.56 | % | 7.56 | % | ||||
| Weighted Average Remaining Term (months) | 52.5 | 51.6 | ||||||
III. FUNDS AVAILABLE FOR DISTRIBUTION
| Available Funds: | |||||
| a. Collections | |||||
| Interest Collections | $ | 6,075,719.72 | |||
| Principal Collections | $ | 34,106,046.93 | |||
| Liquidation Proceeds | $ | 51,710.73 | |||
| b. Repurchase Price | $ | - | |||
| c. Optional Purchase Price | $ | - | |||
| d. Reserve Account Excess Amount | $ | - | |||
| Total Available Funds | $ | 40,233,477.38 | |||
| Reserve Account Draw Amount | $ | - | |||
| Total Funds Available for Distribution | $ | 40,233,477.38 | |||
IV. DISTRIBUTION
| Calculated Amount | Amount Paid | Shortfall | Carryover Shortfall | Remaining Available Funds | |||||||||||||
| Servicing Fee | $ | 807,948.00 | $ | 807,948.00 | $ | - | $ | - | $ | 39,425,529.38 | |||||||
| Interest - Class A-1 Notes | $ | 189,286.99 | $ | 189,286.99 | $ | - | $ | - | $ | 39,236,242.39 | |||||||
| Interest - Class A-2a Notes | $ | 1,209,356.67 | $ | 1,209,356.67 | $ | - | $ | - | $ | 38,026,885.72 | |||||||
| Interest - Class A-2b Notes | $ | 275,325.62 | $ | 275,325.62 | $ | - | $ | - | $ | 37,751,560.10 | |||||||
| Interest - Class A-3 Notes | $ | 1,515,360.00 | $ | 1,515,360.00 | $ | - | $ | - | $ | 36,236,200.10 | |||||||
| Interest - Class A-4 Notes | $ | 254,125.33 | $ | 254,125.33 | $ | - | $ | - | $ | 35,982,074.77 | |||||||
| First Allocation of Principal | $ | - | $ | - | $ | - | $ | - | $ | 35,982,074.77 | |||||||
| Interest - Class B Notes | $ | 44,213.75 | $ | 44,213.75 | $ | - | $ | - | $ | 35,937,861.02 | |||||||
| Second Allocation of Principal | $ | 9,064,278.52 | $ | 9,064,278.52 | $ | - | $ | - | $ | 26,873,582.50 | |||||||
| Interest - Class C Notes | $ | 46,022.08 | $ | 46,022.08 | $ | - | $ | - | $ | 26,827,560.42 | |||||||
| Third Allocation of Principal | $ | 10,850,000.00 | $ | 10,850,000.00 | $ | - | $ | - | $ | 15,977,560.42 | |||||||
| Interest - Class D Notes | $ | 49,096.25 | $ | 49,096.25 | $ | - | $ | - | $ | 15,928,464.17 | |||||||
| Fourth Allocation of Principal | $ | 10,850,000.00 | $ | 10,850,000.00 | $ | - | $ | - | $ | 5,078,464.17 | |||||||
| Reserve Account Deposit Amount | $ | - | $ | - | $ | - | $ | - | $ | 5,078,464.17 | |||||||
| Regular Principal Distribution Amount | $ | 2,712,989.98 | $ | 2,712,989.98 | $ | - | $ | - | $ | 2,365,474.19 | |||||||
| Owner Trustee, Indenture Trustee, and ARR Fees & Expenses | $ | - | $ | - | $ | - | $ | - | $ | 2,365,474.19 | |||||||
| Remaining Funds to Certificates | $ | 2,365,474.19 | $ | 2,365,474.19 | $ | - | $ | - | $ | - | |||||||
| Total | $ | 40,233,477.38 | $ | 40,233,477.38 | $ | - | $ | - | |||||||||
V. OVERCOLLATERALIZATION INFORMATION
| Yield Supplement Overcollateralization Amount: | |||||
| Beginning Period YSOC Amount | $ | 27,029,970.36 | |||
| Increase/(Decrease) | $ | (941,428.63) | |||
| Ending YSOC Amount | $ | 26,088,541.73 | |||
| Overcollateralization: | Beginning of Period | End of Period | ||||||
| Adjusted Pool Balance | $ | 942,507,632.94 | $ | 909,030,364.44 | ||||
| Note Balance | $ | 939,794,642.96 | $ | 906,317,374.46 | ||||
| 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) | 0.03% | 33 | $ | 312,650.20 | |||||||
|
Liquidation Proceeds of Defaulted Receivables1
|
0.01% | 44 | $ | 51,710.73 | |||||||
| Monthly Net Losses (Liquidation Proceeds) | $ | 260,939.47 | |||||||||
| Net Losses as % of Average Pool Balance (annualized) | |||||||||||
| Third Preceding Collection Period | 0.22 | % | |||||||||
| Second Preceding Collection Period | 0.17 | % | |||||||||
| Preceding Collection Period | 0.25 | % | |||||||||
| Current Collection Period | 0.33 | % | |||||||||
| Four-Month Average Net Loss Ratio | 0.24 | % | |||||||||
| Cumulative Net Losses for All Periods | $ | 808,179.62 | |||||||||
| Cumulative Net Loss Ratio | 0.07 | % | |||||||||
|
1 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% | 26 | $ | 678,704.49 | |||||||
| 60-89 Days Delinquent | 0.01% | 2 | $ | 60,039.78 | |||||||
| 90-119 Days Delinquent | 0.00% | 1 | $ | 27,276.59 | |||||||
| 120+ Days Delinquent | 0.00% | 0 | $ | - | |||||||
| Total Delinquent Receivables | 0.08% | 29 | $ | 766,020.86 | |||||||
| Repossession Inventory: | # of Receivables | Principal Balance | |||||||||
| Repossessed in the Current Collection Period | 5 | $ | 120,867.22 | ||||||||
| Total Repossessed Inventory | 11 | $ | 253,103.17 | ||||||||
| 60+ Delinquency Percentage: | # of Receivables | Amount | |||||||||
| 60+ Day Delinquent Receivables | 3 | $ | 87,316.37 | ||||||||
| 60+ Delinquencies as % of EOP Net Pool Balance | |||||||||||
| Third Preceding Collection Period | 0.01 | % | |||||||||
| Second Preceding Collection Period | 0.01 | % | |||||||||
| Preceding Collection Period | 0.03 | % | |||||||||
| Current Collection Period | 0.01 | % | |||||||||
| 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 February 2025.
| Month-End Balance | # of Receivables | |||||||||||||
| ($MM) | (%) | (#) | (%) | |||||||||||
| Total Extensions | 0.45 | 0.05% | 17 | 0.04% | ||||||||||
Capital One Prime Auto Receivables Trust 2024-1 published this content on March 17, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on March 17, 2025 at 15:28 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]