Ford Credit Auto Owner Trust 2024-D
04/23/2025 | Press release | Distributed by Public on 04/23/2025 08:01
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2024-D
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 5 | ||||
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 | 4.66867 | % | * | 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 | $ | 5,620,922.12 | |||
| Principal: | |||||
| Principal Collections | $ | 31,496,506.10 | |||
| Prepayments in Full | $ | 14,538,849.27 | |||
| Liquidation Proceeds | $ | 318,230.51 | |||
| Recoveries | $ | 10,842.07 | |||
| Sub Total | $ | 46,364,427.95 | |||
| Collections | $ | 51,985,350.07 | |||
| Purchase Amounts: | |||||
| Purchase Amounts Related to Principal | $ | 116,146.61 | |||
| Purchase Amounts Related to Interest | $ | 902.95 | |||
| Sub Total | $ | 117,049.56 | |||
| Clean-up Call | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Available Funds - Total | $ | 52,102,399.63 | |||
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Ford Credit Auto Owner Trust 2024-D
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 5 | ||||
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 | $ | 52,102,399.63 | |||||||||||||||||||
| Servicing Fee | $ | 1,244,553.97 | $ | 1,244,553.97 | $ | 0.00 | $ | 0.00 | $ | 50,857,845.66 | |||||||||||||||||||
| Interest - Class A-1 Notes | $ | 526,070.27 | $ | 526,070.27 | $ | 0.00 | $ | 0.00 | $ | 50,331,775.39 | |||||||||||||||||||
| Interest - Class A-2a Notes | $ | 1,559,835.00 | $ | 1,559,835.00 | $ | 0.00 | $ | 0.00 | $ | 48,771,940.39 | |||||||||||||||||||
| Interest - Class A-2b Notes | $ | 470,109.13 | $ | 470,109.13 | $ | 0.00 | $ | 0.00 | $ | 48,301,831.26 | |||||||||||||||||||
| Interest - Class A-3 Notes | $ | 2,046,840.00 | $ | 2,046,840.00 | $ | 0.00 | $ | 0.00 | $ | 46,254,991.26 | |||||||||||||||||||
| Interest - Class A-4 Notes | $ | 405,420.00 | $ | 405,420.00 | $ | 0.00 | $ | 0.00 | $ | 45,849,571.26 | |||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,849,571.26 | |||||||||||||||||||
| Interest - Class B Notes | $ | 192,638.00 | $ | 192,638.00 | $ | 0.00 | $ | 0.00 | $ | 45,656,933.26 | |||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,656,933.26 | |||||||||||||||||||
| Interest - Class C Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,656,933.26 | |||||||||||||||||||
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 45,656,933.26 | |||||||||||||||||||
| Regular Principal Payment | $ | 141,844,646.99 | $ | 45,656,933.26 | $ | 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 | $ | 52,102,399.63 | |||||||||||||||||||||||||||
| Principal Payment: | |||||||||||||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Regular Principal Payment | $ | 45,656,933.26 | |||||||||||||||||||||||||||
| Total | $ | 45,656,933.26 | |||||||||||||||||||||||||||
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 | $ | 45,656,933.26 | $ | 138.35 | $ | 526,070.27 | $ | 1.59 | $ | 46,183,003.53 | $ | 139.94 | |||||||||||||||||||||||
| 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 | $ | 470,109.13 | $ | 3.76 | $ | 470,109.13 | $ | 3.76 | |||||||||||||||||||||||
| 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 | $ | 45,656,933.26 | $ | 28.92 | $ | 5,200,912.40 | $ | 3.29 | $ | 50,857,845.66 | $ | 32.21 | |||||||||||||||||||||||
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Ford Credit Auto Owner Trust 2024-D
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 5 | ||||
V. NOTE BALANCE AND POOL INFORMATION
| Beginning of Period | End of Period | ||||||||||||||||||||||
| Balance | Note Factor | Balance | Note Factor | ||||||||||||||||||||
| Class A-1 Notes | $ | 141,844,646.99 | 0.4298323 | $ | 96,187,713.73 | 0.2914779 | |||||||||||||||||
| 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 | $ | 1,390,784,646.99 | 0.8808344 | $ | 1,345,127,713.73 | 0.8519182 | |||||||||||||||||
| Pool Information | |||||||||||
| Weighted Average APR | 4.810 | % | 4.814 | % | |||||||
| Weighted Average Remaining Term | 53.98 | 53.17 | |||||||||
| Number of Receivables Outstanding | 39,401 | 38,726 | |||||||||
| Pool Balance | $ | 1,493,464,766.61 | $ | 1,446,497,552.20 | |||||||
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 1,403,074,717.80 | $ | 1,359,442,106.96 | |||||||
| Pool Factor | 0.8871879 | 0.8592871 | |||||||||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,947,368.57 | |||
| Yield Supplement Overcollateralization Amount | $ | 87,055,445.24 | |||
| Targeted Overcollateralization Amount | $ | 118,634,393.80 | |||
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 101,369,838.47 | |||
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 | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 5 | ||||
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||||||||||||||
| Current Collection Period Loss: | |||||||||||||||||
| Realized Loss (Charge-Offs) | 75 | $ | 497,481.92 | ||||||||||||||
| (Recoveries) | 3 | $ | 10,842.07 | ||||||||||||||
| Net Loss for Current Collection Period | $ | 486,639.85 | |||||||||||||||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.3910 | % | |||||||||||||||
| Prior and Current Collection Periods Average Loss: | |||||||||||||||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||||||||||||||
| Third Prior Collection Period | 0.0180 | % | |||||||||||||||
| Second Prior Collection Period | 0.1267 | % | |||||||||||||||
| Prior Collection Period | 0.3461 | % | |||||||||||||||
| Current Collection Period | 0.3973 | % | |||||||||||||||
| Four Month Average (Current and Prior Three Collection Periods) | 0.2220 | % | |||||||||||||||
| Cumulative Loss: | |||||||||||||||||
| Cumulative Realized Loss (Charge-Offs) | 282 | $ | 1,124,597.80 | ||||||||||||||
| (Cumulative Recoveries) | $ | 10,842.07 | |||||||||||||||
| Cumulative Net Loss for All Collection Periods | $ | 1,113,755.73 | |||||||||||||||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.0662 | % | |||||||||||||||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 3,987.94 | |||||||||||||||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 3,949.49 | |||||||||||||||
| % of EOP Pool Balance | # of Receivables | Amount | |||||||||||||||
| Delinquent Receivables: | |||||||||||||||||
| 31-60 Days Delinquent | 0.64 | % | 192 | $ | 9,272,453.12 | ||||||||||||
| 61-90 Days Delinquent | 0.11 | % | 33 | $ | 1,573,733.74 | ||||||||||||
| 91-120 Days Delinquent | 0.01 | % | 5 | $ | 206,515.17 | ||||||||||||
| Over 120 Days Delinquent | 0.01 | % | 3 | $ | 112,478.95 | ||||||||||||
| Total Delinquent Receivables | 0.77 | % | 233 | $ | 11,165,180.98 | ||||||||||||
| Repossession Inventory: | |||||||||||||||||
| Repossessed in the Current Collection Period | 17 | $ | 776,147.87 | ||||||||||||||
| Total Repossessed Inventory | 21 | $ | 1,003,886.98 | ||||||||||||||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||||||||||||||
| Second Prior Collection Period | 0.0824 | % | |||||||||||||||
| Prior Collection Period | 0.0812 | % | |||||||||||||||
| Current Collection Period | 0.1059 | % | |||||||||||||||
| Three Month Average | 0.0898 | % | |||||||||||||||
| 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 | 0.1308 | % | |||||||||||||||
| Delinquency Trigger Occurred | No | ||||||||||||||||
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Ford Credit Auto Owner Trust 2024-D
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 5 | ||||
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount | ||||||||||||
| 1 Month Extended | 76 | $3,972,184.58 | ||||||||||||
| 2 Months Extended | 102 | $4,956,866.61 | ||||||||||||
| 3+ Months Extended | 15 | $623,121.66 | ||||||||||||
| Total Receivables Extended | 193 | $9,552,172.85 | ||||||||||||
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 April 23, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on April 23, 2025 at 14:01 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]