Ford Credit Auto Owner Trust 2023-A
04/23/2025 | Press release | Distributed by Public on 04/23/2025 07:29
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 25 | ||||
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 | $1,732,167,317.56 | 48,752 | 57.8 months | ||||||||||||||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | |||||||||||||||
| Original Securities | |||||||||||||||||
| Class A-1 Notes | $ | 300,000,000.00 | 5.028 | % | April 15, 2024 | ||||||||||||
| Class A-2a Notes | $ | 359,000,000.00 | 5.14 | % | March 15, 2026 | ||||||||||||
| Class A-2b Notes | $ | 235,000,000.00 | 5.06867 | % | * | March 15, 2026 | |||||||||||
| Class A-3 Notes | $ | 510,000,000.00 | 4.65 | % | February 15, 2028 | ||||||||||||
| Class A-4 Notes | $ | 96,000,000.00 | 4.56 | % | December 15, 2028 | ||||||||||||
| Class B Notes | $ | 47,330,000.00 | 5.07 | % | January 15, 2029 | ||||||||||||
| Class C Notes | $ | 31,610,000.00 | 5.51 | % | September 15, 2030 | ||||||||||||
| Total | $ | 1,578,940,000.00 | |||||||||||||||
| * 30-day average SOFR + 0.72% | |||||||||||||||||
II. AVAILABLE FUNDS
| Interest: | |||||
| Interest Collections | $ | 2,878,936.07 | |||
| Principal: | |||||
| Principal Collections | $ | 21,499,935.34 | |||
| Prepayments in Full | $ | 10,264,566.43 | |||
| Liquidation Proceeds | $ | 615,528.15 | |||
| Recoveries | $ | 101,376.12 | |||
| Sub Total | $ | 32,481,406.04 | |||
| Collections | $ | 35,360,342.11 | |||
| Purchase Amounts: | |||||
| Purchase Amounts Related to Principal | $ | 171,530.53 | |||
| Purchase Amounts Related to Interest | $ | 1,093.98 | |||
| Sub Total | $ | 172,624.51 | |||
| Clean-up Call | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Available Funds - Total | $35,532,966.62 | ||||
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Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 25 | ||||
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 | $ | 35,532,966.62 | |||||||||||||||||||
| Servicing Fee | $ | 585,545.85 | $ | 585,545.85 | $ | 0.00 | $ | 0.00 | $ | 34,947,420.77 | |||||||||||||||||||
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 34,947,420.77 | |||||||||||||||||||
| Interest - Class A-2a Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 34,947,420.77 | |||||||||||||||||||
| Interest - Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 34,947,420.77 | |||||||||||||||||||
| Interest - Class A-3 Notes | $ | 1,688,031.93 | $ | 1,688,031.93 | $ | 0.00 | $ | 0.00 | $ | 33,259,388.84 | |||||||||||||||||||
| Interest - Class A-4 Notes | $ | 364,800.00 | $ | 364,800.00 | $ | 0.00 | $ | 0.00 | $ | 32,894,588.84 | |||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 32,894,588.84 | |||||||||||||||||||
| Interest - Class B Notes | $ | 199,969.25 | $ | 199,969.25 | $ | 0.00 | $ | 0.00 | $ | 32,694,619.59 | |||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 32,694,619.59 | |||||||||||||||||||
| Interest - Class C Notes | $ | 145,142.58 | $ | 145,142.58 | $ | 0.00 | $ | 0.00 | $ | 32,549,477.01 | |||||||||||||||||||
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 32,549,477.01 | |||||||||||||||||||
| Regular Principal Payment | $ | 29,840,421.04 | $ | 29,840,421.04 | $ | 0.00 | $ | 0.00 | $ | 2,709,055.97 | |||||||||||||||||||
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 2,709,055.97 | |||||||||||||||||||
| Residual Released to Depositor | $ | 0.00 | $ | 2,709,055.97 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Total | $ | 35,532,966.62 | |||||||||||||||||||||||||||
| Principal Payment: | |||||||||||||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Regular Principal Payment | $ | 29,840,421.04 | |||||||||||||||||||||||||||
| Total | $ | 29,840,421.04 | |||||||||||||||||||||||||||
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 | $ | 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 | $ | 29,840,421.04 | $ | 58.51 | $ | 1,688,031.93 | $ | 3.31 | $ | 31,528,452.97 | $ | 61.82 | |||||||||||||||||||||||
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 364,800.00 | $ | 3.80 | $ | 364,800.00 | $ | 3.80 | |||||||||||||||||||||||
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 199,969.25 | $ | 4.23 | $ | 199,969.25 | $ | 4.23 | |||||||||||||||||||||||
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 145,142.58 | $ | 4.59 | $ | 145,142.58 | $ | 4.59 | |||||||||||||||||||||||
| Total | $ | 29,840,421.04 | $ | 18.90 | $ | 2,397,943.76 | $ | 1.52 | $ | 32,238,364.80 | $ | 20.42 | |||||||||||||||||||||||
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Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 25 | ||||
V. NOTE BALANCE AND POOL INFORMATION
| Beginning of Period | End of Period | ||||||||||||||||||||||
| Balance | Note Factor | Balance | Note Factor | ||||||||||||||||||||
| Class A-1 Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 | |||||||||||||||||
| Class A-2a Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 | |||||||||||||||||
| Class A-2b Notes | $ | 0.00 | 0.0000000 | $ | 0.00 | 0.0000000 | |||||||||||||||||
| Class A-3 Notes | $ | 435,621,142.10 | 0.8541591 | $ | 405,780,721.06 | 0.7956485 | |||||||||||||||||
| Class A-4 Notes | $ | 96,000,000.00 | 1.0000000 | $ | 96,000,000.00 | 1.0000000 | |||||||||||||||||
| Class B Notes | $ | 47,330,000.00 | 1.0000000 | $ | 47,330,000.00 | 1.0000000 | |||||||||||||||||
| Class C Notes | $ | 31,610,000.00 | 1.0000000 | $ | 31,610,000.00 | 1.0000000 | |||||||||||||||||
| Total | $ | 610,561,142.10 | 0.3866905 | $ | 580,720,721.06 | 0.3677915 | |||||||||||||||||
| Pool Information | |||||||||||
| Weighted Average APR | 5.150 | % | 5.179 | % | |||||||
| Weighted Average Remaining Term | 39.23 | 38.50 | |||||||||
| Number of Receivables Outstanding | 28,910 | 28,183 | |||||||||
| Pool Balance | $ | 702,655,017.47 | $ | 669,442,652.46 | |||||||
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 648,732,553.73 | $ | 618,393,947.22 | |||||||
| Pool Factor | 0.4056508 | 0.3864769 | |||||||||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,947,369.48 | |||
| Yield Supplement Overcollateralization Amount | $ | 51,048,705.24 | |||
| Targeted Overcollateralization Amount | $ | 88,721,931.40 | |||
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 88,721,931.40 | |||
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 3,947,369.48 | |||
| Reserve Account Deposits Made | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Ending Reserve Account Balance | $ | 3,947,369.48 | |||
| Change in Reserve Account Balance | $ | 0.00 | |||
| Specified Reserve Balance | $ | 3,947,369.48 | |||
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Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 25 | ||||
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||||||||||||||
| Current Collection Period Loss: | |||||||||||||||||
| Realized Loss (Charge-Offs) | 99 | $ | 660,804.56 | ||||||||||||||
| (Recoveries) | 65 | $ | 101,376.12 | ||||||||||||||
| Net Loss for Current Collection Period | $ | 559,428.44 | |||||||||||||||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.9554 | % | |||||||||||||||
| Prior and Current Collection Periods Average Loss: | |||||||||||||||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||||||||||||||
| Third Prior Collection Period | 0.8712 | % | |||||||||||||||
| Second Prior Collection Period | 0.7396 | % | |||||||||||||||
| Prior Collection Period | 0.7505 | % | |||||||||||||||
| Current Collection Period | 0.9785 | % | |||||||||||||||
| Four Month Average (Current and Prior Three Collection Periods) | 0.8350 | % | |||||||||||||||
| Cumulative Loss: | |||||||||||||||||
| Cumulative Realized Loss (Charge-Offs) | 1,904 | $ | 11,453,896.27 | ||||||||||||||
| (Cumulative Recoveries) | $ | 1,449,076.60 | |||||||||||||||
| Cumulative Net Loss for All Collection Periods | $ | 10,004,819.67 | |||||||||||||||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.5776 | % | |||||||||||||||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 6,015.70 | |||||||||||||||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 5,254.63 | |||||||||||||||
| % of EOP Pool Balance | # of Receivables | Amount | |||||||||||||||
| Delinquent Receivables: | |||||||||||||||||
| 31-60 Days Delinquent | 1.53 | % | 308 | $ | 10,275,040.04 | ||||||||||||
| 61-90 Days Delinquent | 0.15 | % | 30 | $ | 1,032,232.81 | ||||||||||||
| 91-120 Days Delinquent | 0.06 | % | 8 | $ | 378,221.59 | ||||||||||||
| Over 120 Days Delinquent | 0.08 | % | 15 | $ | 567,267.16 | ||||||||||||
| Total Delinquent Receivables | 1.83 | % | 361 | $ | 12,252,761.60 | ||||||||||||
| Repossession Inventory: | |||||||||||||||||
| Repossessed in the Current Collection Period | 15 | $ | 601,272.43 | ||||||||||||||
| Total Repossessed Inventory | 30 | $ | 1,171,443.88 | ||||||||||||||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||||||||||||||
| Second Prior Collection Period | 0.2399 | % | |||||||||||||||
| Prior Collection Period | 0.1972 | % | |||||||||||||||
| Current Collection Period | 0.1881 | % | |||||||||||||||
| Three Month Average | 0.2084 | % | |||||||||||||||
| Delinquency Trigger (61+ Delinquent Receivables) | |||||||||||||||||
| Transaction Month | Trigger | ||||||||||||||||
| 1-12 | 0.80% | ||||||||||||||||
| 13-24 | 1.50% | ||||||||||||||||
| 25-36 | 2.60% | ||||||||||||||||
| 37+ | 4.40% | ||||||||||||||||
| 61+ Delinquent Receivables Balance to EOP Pool Balance | 0.2954 | % | |||||||||||||||
| Delinquency Trigger Occurred | No | ||||||||||||||||
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Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| Collection Period | March 2025 | ||||
| Payment Date | 4/15/2025 | ||||
| Transaction Month | 25 | ||||
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount | ||||||||||||
| 1 Month Extended | 69 | $2,146,075.16 | ||||||||||||
| 2 Months Extended | 112 | $4,240,909.49 | ||||||||||||
| 3+ Months Extended | 25 | $1,031,296.41 | ||||||||||||
| Total Receivables Extended | 206 | $7,418,281.06 | ||||||||||||
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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