Ford Credit Auto Owner Trust 2023-C
06/22/2026 | Press release | Distributed by Public on 06/22/2026 08:45
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | May 2026 | ||||
| Payment Date | 6/15/2026 | ||||
| Transaction Month | 31 | ||||
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 | $ | 1,443,380,079.18 | 40,320 | 55.8 months | |||||||||||||
| Dollar Amount | Note Interest Rate | Final Scheduled Payment Date | |||||||||||||||
| Original Securities | |||||||||||||||||
| Class A-1 Notes | $ | 265,000,000.00 | 5.590 | % | December 15, 2024 | ||||||||||||
| Class A-2a Notes | $ | 261,250,000.00 | 5.68 | % | September 15, 2026 | ||||||||||||
| Class A-2b Notes | $ | 200,000,000.00 | 4.19285 | % | * | September 15, 2026 | |||||||||||
| Class A-3 Notes | $ | 461,250,000.00 | 5.53 | % | September 15, 2028 | ||||||||||||
| Class A-4 Notes | $ | 62,500,000.00 | 5.49 | % | May 15, 2029 | ||||||||||||
| Class B Notes | $ | 39,480,000.00 | 5.93 | % | August 15, 2029 | ||||||||||||
| Class C Notes | $ | 26,300,000.00 | 6.37 | % | May 15, 2031 | ||||||||||||
| Total | $ | 1,315,780,000.00 | |||||||||||||||
| * 30-day average SOFR + 0.55% | |||||||||||||||||
II. AVAILABLE FUNDS
| Interest: | |||||
| Interest Collections | $ | 1,789,846.84 | |||
| Principal: | |||||
| Principal Collections | $ | 14,051,659.48 | |||
| Prepayments in Full | $ | 7,548,639.14 | |||
| Liquidation Proceeds | $ | 207,556.87 | |||
| Recoveries | $ | 60,653.83 | |||
| Sub Total | $ | 21,868,509.32 | |||
| Collections | $ | 23,658,356.16 | |||
| Purchase Amounts: | |||||
| Purchase Amounts Related to Principal | $ | 211,287.95 | |||
| Purchase Amounts Related to Interest | $ | 1,500.72 | |||
| Sub Total | $ | 212,788.67 | |||
| Clean-up Call | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Available Funds - Total | $ | 23,871,144.83 | |||
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Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | May 2026 | ||||
| Payment Date | 6/15/2026 | ||||
| Transaction Month | 31 | ||||
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 | $ | 23,871,144.83 | |||||||||||||||||||
| Servicing Fee | $ | 333,454.93 | $ | 333,454.93 | $ | 0.00 | $ | 0.00 | $ | 23,537,689.90 | |||||||||||||||||||
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 23,537,689.90 | |||||||||||||||||||
| Interest - Class A-2a Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 23,537,689.90 | |||||||||||||||||||
| Interest - Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 23,537,689.90 | |||||||||||||||||||
| Interest - Class A-3 Notes | $ | 982,161.99 | $ | 982,161.99 | $ | 0.00 | $ | 0.00 | $ | 22,555,527.91 | |||||||||||||||||||
| Interest - Class A-4 Notes | $ | 285,937.50 | $ | 285,937.50 | $ | 0.00 | $ | 0.00 | $ | 22,269,590.41 | |||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 22,269,590.41 | |||||||||||||||||||
| Interest - Class B Notes | $ | 195,097.00 | $ | 195,097.00 | $ | 0.00 | $ | 0.00 | $ | 22,074,493.41 | |||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 22,074,493.41 | |||||||||||||||||||
| Interest - Class C Notes | $ | 139,609.17 | $ | 139,609.17 | $ | 0.00 | $ | 0.00 | $ | 21,934,884.24 | |||||||||||||||||||
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 21,934,884.24 | |||||||||||||||||||
| Regular Principal Payment | $ | 20,113,378.70 | $ | 20,113,378.70 | $ | 0.00 | $ | 0.00 | $ | 1,821,505.54 | |||||||||||||||||||
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 1,821,505.54 | |||||||||||||||||||
| Residual Released to Depositor | $ | 0.00 | $ | 1,821,505.54 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Total | $ | 23,871,144.83 | |||||||||||||||||||||||||||
| Principal Payment: | |||||||||||||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Regular Principal Payment | $ | 20,113,378.70 | |||||||||||||||||||||||||||
| Total | $ | 20,113,378.70 | |||||||||||||||||||||||||||
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 | $ | 20,113,378.70 | $ | 43.61 | $ | 982,161.99 | $ | 2.13 | $ | 21,095,540.69 | $ | 45.74 | |||||||||||||||||||||||
| Class A-4 Notes | $ | 0.00 | $ | 0.00 | $ | 285,937.50 | $ | 4.58 | $ | 285,937.50 | $ | 4.58 | |||||||||||||||||||||||
| Class B Notes | $ | 0.00 | $ | 0.00 | $ | 195,097.00 | $ | 4.94 | $ | 195,097.00 | $ | 4.94 | |||||||||||||||||||||||
| Class C Notes | $ | 0.00 | $ | 0.00 | $ | 139,609.17 | $ | 5.31 | $ | 139,609.17 | $ | 5.31 | |||||||||||||||||||||||
| Total | $ | 20,113,378.70 | $ | 15.29 | $ | 1,602,805.66 | $ | 1.22 | $ | 21,716,184.36 | $ | 16.51 | |||||||||||||||||||||||
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Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | May 2026 | ||||
| Payment Date | 6/15/2026 | ||||
| Transaction Month | 31 | ||||
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 | $ | 213,127,375.40 | 0.4620648 | $ | 193,013,996.70 | 0.4184585 | |||||||||||||||||
| Class A-4 Notes | $ | 62,500,000.00 | 1.0000000 | $ | 62,500,000.00 | 1.0000000 | |||||||||||||||||
| Class B Notes | $ | 39,480,000.00 | 1.0000000 | $ | 39,480,000.00 | 1.0000000 | |||||||||||||||||
| Class C Notes | $ | 26,300,000.00 | 1.0000000 | $ | 26,300,000.00 | 1.0000000 | |||||||||||||||||
| Total | $ | 341,407,375.40 | 0.2594715 | $ | 321,293,996.70 | 0.2441852 | |||||||||||||||||
| Pool Information | |||||||||||
| Weighted Average APR | 5.688 | % | 5.728 | % | |||||||
| Weighted Average Remaining Term | 34.13 | 33.45 | |||||||||
| Number of Receivables Outstanding | 19,038 | 18,240 | |||||||||
| Pool Balance | $ | 400,145,920.34 | $ | 377,884,961.63 | |||||||
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 370,435,856.82 | $ | 349,988,563.73 | |||||||
| Pool Factor | 0.2772284 | 0.2618056 | |||||||||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,289,470.37 | |||
| Yield Supplement Overcollateralization Amount | $ | 27,896,397.90 | |||
| Targeted Overcollateralization Amount | $ | 56,590,964.93 | |||
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 56,590,964.93 | |||
VII. RECONCILIATION OF RESERVE ACCOUNT
| Beginning Reserve Account Balance | $ | 3,289,470.37 | |||
| Reserve Account Deposits Made | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Ending Reserve Account Balance | $ | 3,289,470.37 | |||
| Change in Reserve Account Balance | $ | 0.00 | |||
| Specified Reserve Balance | $ | 3,289,470.37 | |||
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Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | May 2026 | ||||
| Payment Date | 6/15/2026 | ||||
| Transaction Month | 31 | ||||
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||||||||||||||
| Current Collection Period Loss: | |||||||||||||||||
| Realized Loss (Charge-Offs) | 57 | $ | 241,815.27 | ||||||||||||||
| (Recoveries) | 66 | $ | 60,653.83 | ||||||||||||||
| Net Loss for Current Collection Period | $ | 181,161.44 | |||||||||||||||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.5433 | % | |||||||||||||||
| Prior and Current Collection Periods Average Loss: | |||||||||||||||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||||||||||||||
| Third Prior Collection Period | 0.9433 | % | |||||||||||||||
| Second Prior Collection Period | 1.0046 | % | |||||||||||||||
| Prior Collection Period | 1.1821 | % | |||||||||||||||
| Current Collection Period | 0.5588 | % | |||||||||||||||
| Four Month Average (Current and Prior Three Collection Periods) | 0.9222 | % | |||||||||||||||
| Cumulative Loss: | |||||||||||||||||
| Cumulative Realized Loss (Charge-Offs) | 2,083 | $ | 11,560,624.88 | ||||||||||||||
| (Cumulative Recoveries) | $ | 1,617,051.79 | |||||||||||||||
| Cumulative Net Loss for All Collection Periods | $ | 9,943,573.09 | |||||||||||||||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.6889 | % | |||||||||||||||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 5,549.99 | |||||||||||||||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 4,773.68 | |||||||||||||||
| % of EOP Pool Balance | # of Receivables | Amount | |||||||||||||||
| Delinquent Receivables: | |||||||||||||||||
| 31-60 Days Delinquent | 1.40 | % | 173 | $ | 5,276,440.77 | ||||||||||||
| 61-90 Days Delinquent | 0.29 | % | 32 | $ | 1,091,952.09 | ||||||||||||
| 91-120 Days Delinquent | 0.12 | % | 11 | $ | 443,249.71 | ||||||||||||
| Over 120 Days Delinquent | 0.14 | % | 15 | $ | 540,161.61 | ||||||||||||
| Total Delinquent Receivables | 1.95 | % | 231 | $ | 7,351,804.18 | ||||||||||||
| Repossession Inventory: | |||||||||||||||||
| Repossessed in the Current Collection Period | 13 | $ | 508,481.08 | ||||||||||||||
| Total Repossessed Inventory | 27 | $ | 908,269.80 | ||||||||||||||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||||||||||||||
| Second Prior Collection Period | 0.2570 | % | |||||||||||||||
| Prior Collection Period | 0.2889 | % | |||||||||||||||
| Current Collection Period | 0.3180 | % | |||||||||||||||
| Three Month Average | 0.2879 | % | |||||||||||||||
| 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 | 0.5492 | % | |||||||||||||||
| Delinquency Trigger Occurred | No | ||||||||||||||||
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Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | May 2026 | ||||
| Payment Date | 6/15/2026 | ||||
| Transaction Month | 31 | ||||
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount | ||||||||||||
| 1 Month Extended | 44 | $1,315,620.76 | ||||||||||||
| 2 Months Extended | 82 | $2,660,812.73 | ||||||||||||
| 3+ Months Extended | 20 | $632,270.08 | ||||||||||||
| Total Receivables Extended | 146 | $4,608,703.57 | ||||||||||||
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 6, 2026 | ||
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 2023-C published this content on June 22, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on June 22, 2026 at 14:45 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]