Ford Credit Auto Owner Trust 2024-C
05/21/2025 | Press release | Distributed by Public on 05/21/2025 08:14
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
| Collection Period | April 2025 | ||||
| Payment Date | 5/15/2025 | ||||
| Transaction Month | 8 | ||||
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 | $1,688,795,240.91 | 42,975 | 57.2 months | ||||||||||||||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | |||||||||||||||
| Original Securities | |||||||||||||||||
| Class A-1 Notes | $ | 330,000,000.00 | 4.922 | % | October 15, 2025 | ||||||||||||
| Class A-2a Notes | $ | 300,000,000.00 | 4.32 | % | August 15, 2027 | ||||||||||||
| Class A-2b Notes | $ | 245,000,000.00 | 4.74471 | % | * | August 15, 2027 | |||||||||||
| Class A-3 Notes | $ | 545,000,000.00 | 4.07 | % | July 15, 2029 | ||||||||||||
| Class A-4 Notes | $ | 80,000,000.00 | 4.11 | % | July 15, 2030 | ||||||||||||
| Class B Notes | $ | 47,370,000.00 | 4.40 | % | August 15, 2030 | ||||||||||||
| Class C Notes | $ | 31,570,000.00 | 0.00 | % | March 15, 2032 | ||||||||||||
| Total | $ | 1,578,940,000.00 | |||||||||||||||
| * 30-day average SOFR + 0.40% | |||||||||||||||||
II. AVAILABLE FUNDS
| Interest: | |||||
| Interest Collections | $ | 5,380,901.45 | |||
| Principal: | |||||
| Principal Collections | $ | 29,972,400.70 | |||
| Prepayments in Full | $ | 15,096,776.23 | |||
| Liquidation Proceeds | $ | 522,629.30 | |||
| Recoveries | $ | 7,574.23 | |||
| Sub Total | $ | 45,599,380.46 | |||
| Collections | $ | 50,980,281.91 | |||
| Purchase Amounts: | |||||
| Purchase Amounts Related to Principal | $ | 143,398.17 | |||
| Purchase Amounts Related to Interest | $ | 923.62 | |||
| Sub Total | $ | 144,321.79 | |||
| Clean-up Call | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Available Funds - Total | $51,124,603.70 | ||||
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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
| Collection Period | April 2025 | ||||
| Payment Date | 5/15/2025 | ||||
| Transaction Month | 8 | ||||
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 | $ | 51,124,603.70 | |||||||||||||||||||
| Servicing Fee | $ | 1,134,329.13 | $ | 1,134,329.13 | $ | 0.00 | $ | 0.00 | $ | 49,990,274.57 | |||||||||||||||||||
| Interest - Class A-1 Notes | $ | 25,821.72 | $ | 25,821.72 | $ | 0.00 | $ | 0.00 | $ | 49,964,452.85 | |||||||||||||||||||
| Interest - Class A-2a Notes | $ | 1,080,000.00 | $ | 1,080,000.00 | $ | 0.00 | $ | 0.00 | $ | 48,884,452.85 | |||||||||||||||||||
| Interest - Class A-2b Notes | $ | 968,711.63 | $ | 968,711.63 | $ | 0.00 | $ | 0.00 | $ | 47,915,741.22 | |||||||||||||||||||
| Interest - Class A-3 Notes | $ | 1,848,458.33 | $ | 1,848,458.33 | $ | 0.00 | $ | 0.00 | $ | 46,067,282.89 | |||||||||||||||||||
| Interest - Class A-4 Notes | $ | 274,000.00 | $ | 274,000.00 | $ | 0.00 | $ | 0.00 | $ | 45,793,282.89 | |||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,793,282.89 | |||||||||||||||||||
| Interest - Class B Notes | $ | 173,690.00 | $ | 173,690.00 | $ | 0.00 | $ | 0.00 | $ | 45,619,592.89 | |||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,619,592.89 | |||||||||||||||||||
| Interest - Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,619,592.89 | |||||||||||||||||||
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,619,592.89 | |||||||||||||||||||
| Regular Principal Payment | $ | 53,391,694.27 | $ | 45,619,592.89 | $ | 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 | $ | 51,124,603.70 | |||||||||||||||||||||||||||
| Principal Payment: | |||||||||||||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Regular Principal Payment | $ | 45,619,592.89 | |||||||||||||||||||||||||||
| Total | $ | 45,619,592.89 | |||||||||||||||||||||||||||
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 | $ | 6,295,420.37 | $ | 19.08 | $ | 25,821.72 | $ | 0.08 | $ | 6,321,242.09 | $ | 19.16 | |||||||||||||||||||||||
| Class A-2a Notes | $ | 21,646,333.50 | $ | 72.15 | $ | 1,080,000.00 | $ | 3.60 | $ | 22,726,333.50 | $ | 75.75 | |||||||||||||||||||||||
| Class A-2b Notes | $ | 17,677,839.02 | $ | 72.15 | $ | 968,711.63 | $ | 3.95 | $ | 18,646,550.65 | $ | 76.10 | |||||||||||||||||||||||
| Class A-3 Notes | $ | 0.00 | $ | 0.00 | $ | 1,848,458.33 | $ | 3.39 | $ | 1,848,458.33 | $ | 3.39 | |||||||||||||||||||||||
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 274,000.00 | $ | 3.43 | $ | 274,000.00 | $ | 3.43 | |||||||||||||||||||||||
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 173,690.00 | $ | 3.67 | $ | 173,690.00 | $ | 3.67 | |||||||||||||||||||||||
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||||||
| Total | $ | 45,619,592.89 | $ | 28.89 | $ | 4,370,681.68 | $ | 2.77 | $ | 49,990,274.57 | $ | 31.66 | |||||||||||||||||||||||
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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
| Collection Period | April 2025 | ||||
| Payment Date | 5/15/2025 | ||||
| Transaction Month | 8 | ||||
V. NOTE BALANCE AND POOL INFORMATION
| Beginning of Period | End of Period | ||||||||||||||||||||||
| Balance | Note Factor | Balance | Note Factor | ||||||||||||||||||||
| Class A-1 Notes | $ | 6,295,420.37 | 0.0190770 | $ | 0.00 | 0.0000000 | |||||||||||||||||
| Class A-2a Notes | $ | 300,000,000.00 | 1.0000000 | $ | 278,353,666.50 | 0.9278456 | |||||||||||||||||
| Class A-2b Notes | $ | 245,000,000.00 | 1.0000000 | $ | 227,322,160.98 | 0.9278456 | |||||||||||||||||
| Class A-3 Notes | $ | 545,000,000.00 | 1.0000000 | $ | 545,000,000.00 | 1.0000000 | |||||||||||||||||
| Class A-4 Notes | $ | 80,000,000.00 | 1.0000000 | $ | 80,000,000.00 | 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 | $ | 1,255,235,420.37 | 0.7949861 | $ | 1,209,615,827.48 | 0.7660936 | |||||||||||||||||
| Pool Information | |||||||||||
| Weighted Average APR | 4.772 | % | 4.775 | % | |||||||
| Weighted Average Remaining Term | 51.59 | 50.80 | |||||||||
| Number of Receivables Outstanding | 38,302 | 37,637 | |||||||||
| Pool Balance | $ | 1,361,194,957.53 | $ | 1,315,119,228.15 | |||||||
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 1,276,235,596.45 | $ | 1,233,422,683.40 | |||||||
| Pool Factor | 0.8060154 | 0.7787322 | |||||||||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,947,369.66 | |||
| Yield Supplement Overcollateralization Amount | $ | 81,696,544.75 | |||
| Targeted Overcollateralization Amount | $ | 113,275,502.05 | |||
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 105,503,400.67 | |||
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 3,947,369.66 | |||
| Reserve Account Deposits Made | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Ending Reserve Account Balance | $ | 3,947,369.66 | |||
| Change in Reserve Account Balance | $ | 0.00 | |||
| Specified Reserve Balance | $ | 3,947,369.66 | |||
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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
| Collection Period | April 2025 | ||||
| Payment Date | 5/15/2025 | ||||
| Transaction Month | 8 | ||||
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||||||||||||||
| Current Collection Period Loss: | |||||||||||||||||
| Realized Loss (Charge-Offs) | 74 | $ | 340,524.98 | ||||||||||||||
| (Recoveries) | 12 | $ | 7,574.23 | ||||||||||||||
| Net Loss for Current Collection Period | $ | 332,950.75 | |||||||||||||||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.2935 | % | |||||||||||||||
| Prior and Current Collection Periods Average Loss: | |||||||||||||||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||||||||||||||
| Third Prior Collection Period | 0.3564 | % | |||||||||||||||
| Second Prior Collection Period | 0.2854 | % | |||||||||||||||
| Prior Collection Period | 0.3998 | % | |||||||||||||||
| Current Collection Period | 0.2986 | % | |||||||||||||||
| Four Month Average (Current and Prior Three Collection Periods) | 0.3351 | % | |||||||||||||||
| Cumulative Loss: | |||||||||||||||||
| Cumulative Realized Loss (Charge-Offs) | 507 | $ | 2,247,045.08 | ||||||||||||||
| (Cumulative Recoveries) | $ | 38,206.65 | |||||||||||||||
| Cumulative Net Loss for All Collection Periods | $ | 2,208,838.43 | |||||||||||||||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.1308 | % | |||||||||||||||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 4,432.04 | |||||||||||||||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 4,356.68 | |||||||||||||||
| % of EOP Pool Balance | # of Receivables | Amount | |||||||||||||||
| Delinquent Receivables: | |||||||||||||||||
| 31-60 Days Delinquent | 0.60 | % | 186 | $ | 7,945,573.94 | ||||||||||||
| 61-90 Days Delinquent | 0.12 | % | 30 | $ | 1,540,011.43 | ||||||||||||
| 91-120 Days Delinquent | 0.02 | % | 5 | $ | 270,817.34 | ||||||||||||
| Over 120 Days Delinquent | 0.02 | % | 7 | $ | 260,779.38 | ||||||||||||
| Total Delinquent Receivables | 0.76 | % | 228 | $ | 10,017,182.09 | ||||||||||||
| Repossession Inventory: | |||||||||||||||||
| Repossessed in the Current Collection Period | 22 | $ | 1,173,503.07 | ||||||||||||||
| Total Repossessed Inventory | 35 | $ | 1,841,914.00 | ||||||||||||||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||||||||||||||
| Second Prior Collection Period | 0.1025 | % | |||||||||||||||
| Prior Collection Period | 0.0966 | % | |||||||||||||||
| Current Collection Period | 0.1116 | % | |||||||||||||||
| Three Month Average | 0.1036 | % | |||||||||||||||
| 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 | 0.1575 | % | |||||||||||||||
| Delinquency Trigger Occurred | No | ||||||||||||||||
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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
| Collection Period | April 2025 | ||||
| Payment Date | 5/15/2025 | ||||
| Transaction Month | 8 | ||||
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount | ||||||||||||
| 1 Month Extended | 96 | $4,252,004.56 | ||||||||||||
| 2 Months Extended | 114 | $5,303,692.76 | ||||||||||||
| 3+ Months Extended | 22 | $835,868.51 | ||||||||||||
| Total Receivables Extended | 232 | $10,391,565.83 | ||||||||||||
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 | ||||
SERVICER CERTIFICATION
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-C published this content on May 21, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on May 21, 2025 at 14:14 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]