Toyota Auto Receivables 2023-C Owner Trust
06/26/2026 | Press release | Distributed by Public on 06/26/2026 08:36
Asset-Backed Issuer Distribution Report (Form 10-D)
Servicer's Certificate
for the Collection Period May 01, 2026 through May 31, 2026
for Payment Date of June 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
| Class |
Initial Principal Balance |
Final Scheduled Payment Date |
Beginning Principal Balance |
Beginning Principal Factor |
First Priority Principal Distribution Amount |
Second Priority Principal Distribution Amount |
Regular Principal Distribution Amount |
Ending Principal Balance |
Ending Principal Factor |
|||||||||||||||||||||||||||
| A-1 | $305,000,000.00 | 8/15/24 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2a | $405,026,000.00 | 8/17/26 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2b | $189,474,000.00 | 8/17/26 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-3 | $527,500,000.00 | 4/17/28 | $197,136,173.79 | 0.3737179 | $0.00 | $10,264,947.99 | $13,600,053.41 | $173,271,172.39 | 0.3284762 | |||||||||||||||||||||||||||
| A-4 | $133,000,000.00 | 2/15/29 | $133,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $133,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| B | $40,000,000.00 | 3/15/30 | $40,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $40,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| Total | $1,600,000,000.00 | $370,136,173.79 | $0.00 | $10,264,947.99 | $13,600,053.41 | $346,271,172.39 | 0.2164195 | |||||||||||||||||||||||||||||
| Class | Interest Rate |
Interest Distributable Amount |
Prior Interest Carryover |
Interest Distribution Amount |
Current Interest Carryover |
Total Principal & Interest Distribution |
||||||||||||||||||||
| A-1 | 5.60400% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2a | 5.60000% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2b | 4.04285% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-3 | 5.16000% | $847,685.55 | $0.00 | $847,685.55 | $0.00 | $24,712,686.95 | ||||||||||||||||||||
| A-4 | 5.01000% | $555,275.00 | $0.00 | $555,275.00 | $0.00 | $555,275.00 | ||||||||||||||||||||
| B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||
| Total | $1,402,960.55 | $0.00 | $1,402,960.55 | $0.00 | $25,267,961.95 | |||||||||||||||||||||
Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
|
Initial Deposit Amount |
$4,000,015.71 |
Beginning Period Amount |
$19,045,215.74 | |||||||
|
Specified Reserve Account Amount |
$4,000,015.71 |
Increase/(Decrease) |
$(1,789,819.41 | ) | ||||||
|
Beginning Balance |
$4,000,015.71 |
Ending Period Amount |
$17,255,396.33 | |||||||
|
Withdrawals |
$0.00 | |||||||||
|
Amount Available for Deposit |
$15,303,608.47 | Overcollateralization | ||||||||
|
Amount Deposited to the Reserve Account |
$0.00 | |||||||||
|
Reserve Account Balance Prior to Release |
$4,000,015.71 |
Adjusted Pool Balance |
$359,871,225.80 | |||||||
|
Reserve Account Required Amount |
$4,000,015.71 |
Total Note Balance |
$346,271,172.39 | |||||||
|
Reserve Account Release to Seller |
$0.00 |
Ending Overcollateralization Amount |
$13,600,053.41 | |||||||
|
Ending Reserve Account Balance |
$4,000,015.71 |
Overcollateralization Target Amount |
$13,600,053.41 | |||||||
Page 1 of 5
Servicer's Certificate
for the Collection Period May 01, 2026 through May 31, 2026
for Payment Date of June 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
Liquidations of Charge-offs and Repossessions
| Cumulative | ||||||||||||||||||||
| Current Period Only | Current Period | Prior Period | Two Periods Prior | Three Periods Prior | ||||||||||||||||
|
Number of Liquidated Receivables |
19 | 1,003 | 984 | 958 | 933 | |||||||||||||||
|
Gross Principal of Liquidated Receivables |
$280,492.25 | $25,200,569.02 | $24,920,076.77 | $24,417,389.37 | $24,037,353.10 | |||||||||||||||
|
Principal of Repurchased Contracts, previously charged-off |
$0.00 | $(106,587.98 | ) | $(106,587.98 | ) | $(106,587.98 | ) | $(106,587.98 | ) | |||||||||||
|
Net Liquidation Proceeds Received During the Collection Period |
$(29,056.22 | ) | $(2,848,436.95 | ) | $(2,819,380.73 | ) | $(2,739,199.77 | ) | $(2,729,672.35 | ) | ||||||||||
|
Recoveries on Previously Liquidated Contracts |
$(278,457.70 | ) | $(11,811,105.63 | ) | $(11,532,647.93 | ) | $(11,313,796.82 | ) | $(10,855,089.28 | ) | ||||||||||
|
Net Credit Losses |
$(27,021.67 | ) | $10,434,438.46 | $10,461,460.13 | $10,257,804.80 | $10,346,003.49 | ||||||||||||||
|
Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
1.52580% | 1.49690% | 1.45734% | 1.41931% | ||||||||||||||||
|
Number of Accounts with Liquidation Proceeds or Recoveries |
970 | 947 | 926 | 898 | ||||||||||||||||
|
Ratio of Aggregate Net Losses to Average Portfolio Balance |
1.06305% | 1.04684% | 1.00823% | 0.99887% | ||||||||||||||||
|
Number of Assets Experiencing a Net Loss |
888 | 875 | 855 | 835 | ||||||||||||||||
|
Net Credit Losses for Assets Experiencing a Loss |
$10,481,545.74 | $10,506,452.19 | $10,302,515.42 | $10,387,040.80 | ||||||||||||||||
|
Average Net Loss on all assets that have Experienced a Net Loss |
$11,803.54 | $12,007.37 | $12,049.73 | $12,439.57 | ||||||||||||||||
|
Cumulative Net Loss Ratio |
0.58565% | 0.58717% | 0.57574% | 0.58069% | ||||||||||||||||
|
Repossessed in Current Period |
6 vehicles | |||||||||||||||||||
Pool Data
| Original | Prior Month | Current Month | ||||||||||||||
|
Receivables Pool Balance |
$1,781,678,265.26 | $402,781,442.94 | $377,126,622.13 | |||||||||||||
|
Number of Contracts |
65,736 | 33,751 | 32,765 | |||||||||||||
|
Weighted Average APR |
4.64% | 4.97% | 4.99% | |||||||||||||
|
Weighted Average Remaining Term (Months) |
55.40 | 25.34 | 24.54 | |||||||||||||
Page 2 of 5
Servicer's Certificate
for the Collection Period May 01, 2026 through May 31, 2026
for Payment Date of June 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
Collections
|
Principal Payments Received |
$18,841,896.34 | |||
|
Prepayments in Full |
$6,532,432.22 | |||
|
Interest Payments Received |
$1,625,325.73 | |||
|
Aggregate Net Liquidation Proceeds |
$307,513.92 | |||
|
Interest on Repurchased Contracts |
$0.00 | |||
|
Total Collections |
$27,307,168.21 | |||
|
Principal of Repurchased Contracts |
$0.00 | |||
|
Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
|
Adjustment on Repurchased Contracts |
$0.00 | |||
|
Total Repurchased Amount |
$0.00 | |||
|
Total Available Collections |
$27,307,168.21 |
Distributions
|
Calculated Amount |
Amount Paid |
Shortfall |
||||||||
|
Servicing Fee |
$335,651.20 | $335,651.20 | $0.00 | |||||||
|
Trustee and Other Fees/Expenses (capped at $300,000.00 per calendar year) |
||||||||||
|
Indenture Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Owner Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Asset Representations Reviewer |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Interest - Class A-1 Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class A-2a Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class A-2b Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class A-3 Notes |
$847,685.55 | $847,685.55 | $0.00 | |||||||
|
Interest - Class A-4 Notes |
$555,275.00 | $555,275.00 | $0.00 | |||||||
|
First Priority Principal Distribution Amount |
$0.00 | $0.00 | $0.00 | |||||||
|
Interest - Class B Notes |
$0.00 | $0.00 | $0.00 | |||||||
|
Second Priority Principal Distribution Amount |
$10,264,947.99 | $10,264,947.99 | $0.00 | |||||||
|
Reserve Account Deposit |
$0.00 | $0.00 | $0.00 | |||||||
|
Regular Principal Distribution Amount |
$13,600,053.41 | $13,600,053.41 | $0.00 | |||||||
|
Additional Trustee and Other Fees/Expenses |
||||||||||
|
Indenture Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Owner Trustee |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Asset Representations Reviewer |
$0.00 |
$0.00 |
$0.00 |
|||||||
|
Excess Amounts to the Certificateholder |
$1,703,555.06 | $1,703,555.06 | N/A | |||||||
Page 3 of 5
Servicer's Certificate
for the Collection Period May 01, 2026 through May 31, 2026
for Payment Date of June 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
|
Collection Period |
31 |
30/360 Days |
30 | |||||
|
Interest Accrual Period |
31 |
Actual/360 Days |
31 |
Noteholder Distributions
|
Interest Distributed |
Per $1000 of Original Balance |
Principal Distributed |
Per $1000 of Original Balance |
Amount Distributed |
Per $1000 of 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 |
$847,685.55 | $1.61 | $23,865,001.40 | $45.24 | $24,712,686.95 | $46.85 | ||||||||||||||||||||||||||||
|
Class A-4 Notes |
$555,275.00 | $4.18 | $0.00 | $0.00 | $555,275.00 | $4.18 | ||||||||||||||||||||||||||||
|
Class B Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||||||||||
Delinquent and Repossessed Contracts
|
Percentage of Current Month Number of Contracts |
Units |
Percentage of Current Month Receivables Pool Balance |
Balance | |||||||||||||
|
30-59 Days Delinquent |
1.08% | 355 | 1.66% | $6,275,300.90 | ||||||||||||
|
60-89 Days Delinquent |
0.31% | 100 | 0.52% | $1,966,909.06 | ||||||||||||
|
90-119 Days Delinquent |
0.09% | 31 | 0.15% | $549,370.70 | ||||||||||||
|
120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
|
Total Delinquencies |
1.48% | 486 | 2.33% | $8,791,580.66 | ||||||||||||
|
Total Delinquencies - Prior Period |
1.34% | 2.10% | ||||||||||||||
|
Total Delinquencies - Two Months Prior |
1.37% | 2.16% | ||||||||||||||
|
Total Delinquencies - Three Months Prior |
1.30% | 1.99% | ||||||||||||||
|
Receivables Pool Balance |
$377,126,622.13 | |||||||||||||||
|
60-Day Delinquency Percentage |
0.67% | |||||||||||||||
|
Delinquency Trigger Percentage |
4.65% | |||||||||||||||
|
Has a Delinquency Trigger occurred in this Collection Period? |
No | |||||||||||||||
|
Repossessed Vehicle Inventory* |
8 vehicles | |||||||||||||||
|
* Included with Delinquencies Above |
||||||||||||||||
Page 4 of 5
Servicer's Certificate
for the Collection Period May 01, 2026 through May 31, 2026
for Payment Date of June 15, 2026
Toyota Auto Receivables 2023-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
I hereby certify to the best of my knowledge that the report provided is true and correct.
|
/s/ Adam Stam |
||
| Name: | Adam Stam | |
| Title: | General Manager - Treasury | |
Page 5 of 5
Toyota Auto Receivables 2023-C Owner Trust published this content on June 26, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on June 26, 2026 at 14:36 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]