Porsche Auto Funding LLC
10/26/2026 | Press release | Distributed by Public on 10/26/2026 13:30
Asset-Backed Issuer Distribution Report (Form 10-D)
Porsche Innovative Lease Owner Trust 2026-1 (PILOT 2026-1)
Monthly Servicer's Certificate
| Collection Period Ended | 9/30/2026 | |||||||||||||||||||||||
| DATES | ||||||||||||||||||||||||
| Collection Period No. | 4 | |||||||||||||||||||||||
| Begin | End | # days | ||||||||||||||||||||||
| Collection Period | 9/1/2026 | 9/30/2026 | 30 | |||||||||||||||||||||
| Determination Date | 10/16/2026 | |||||||||||||||||||||||
| Record Date | 10/19/2026 | |||||||||||||||||||||||
| Payment Date | 10/20/2026 | |||||||||||||||||||||||
| Monthly Interest Period - Actual/360 | 9/21/2026 | 10/20/2026 | 29 | |||||||||||||||||||||
| Monthly Interest - 30/360 | 9/21/2026 | 10/20/2026 | 30 | |||||||||||||||||||||
| SUMMARY | ||||||||||||||||||||||||
| Initial | Beginning | Principal | Ending | Ending Balance | ||||||||||||||||||||
| Balance | Balance | Payment | Balance | Note Factor | per $1000 Initial Face Amount | |||||||||||||||||||
| Class A-1 Notes | 144,000,000.00 | 38,161,644.11 | 24,625,815.18 | 13,535,828.93 | 0.0939988 | 93.99881201 | ||||||||||||||||||
| Class A-2a Notes | 278,500,000.00 | 278,500,000.00 | - | 278,500,000.00 | 1.0000000 | 1000.000000000 | ||||||||||||||||||
| Class A-2b Notes | 75,000,000.00 | 75,000,000.00 | - | 75,000,000.00 | 1.0000000 | 1000.000000000 | ||||||||||||||||||
| Class A-3 Notes | 353,500,000.00 | 353,500,000.00 | - | 353,500,000.00 | 1.0000000 | 1000.000000000 | ||||||||||||||||||
| Class A-4 Notes | 60,000,000.00 | 60,000,000.00 | - | 60,000,000.00 | 1.0000000 | 1000.000000000 | ||||||||||||||||||
| Total Note Balance | 911,000,000.00 | 805,161,644.11 | 24,625,815.18 | 780,535,828.93 | ||||||||||||||||||||
| Overcollateralization | 136,127,002.03 | 146,597,780.28 | 146,597,780.28 | |||||||||||||||||||||
| Total Securitization Value | 1,047,127,002.03 | 951,759,424.39 | 927,133,609.21 | |||||||||||||||||||||
| Present Value of Lease Payment | 413,214,529.62 | |||||||||||||||||||||||
| Present Value of Residual Value | 513,919,079.59 | |||||||||||||||||||||||
| Amount | Percentage | |||||||||||||||||||||||
| Initial Overcollateralization Amount | 136,127,002.03 | 13.00 | % | |||||||||||||||||||||
| Target Overcollateralization Amount | 146,597,780.28 | 14.00 | % | |||||||||||||||||||||
| Current Overcollateralization Amount | 146,597,780.28 | 14.00 | % | |||||||||||||||||||||
| Interest | Principal Payment | |||||||||||||||||||||||
| Interest Rate | Interest | per $1000 Initial Face Amount | per $1000 Initial Face Amount | Interest & Principal Payment | ||||||||||||||||||||
| Class A-1 Notes | 3.839 | % | 118,015.94 | 0.8195551 | 171.0126054 | 24,743,831.12 | ||||||||||||||||||
| Class A-2a Notes | 4.100 | % | 951,541.67 | 3.4166667 | - | 951,541.67 | ||||||||||||||||||
| Class A-2b Notes | 3.998 | % | 241,535.56 | 3.2204741 | - | 241,535.56 | ||||||||||||||||||
| Class A-3 Notes | 4.410 | % | 1,299,112.50 | 3.6750000 | - | 1,299,112.50 | ||||||||||||||||||
| Class A-4 Notes | 4.460 | % | 223,000.00 | 3.7166667 | - | 223,000.00 | ||||||||||||||||||
| Total | 2,833,205.67 | 27,459,020.85 | ||||||||||||||||||||||
| AVAILABLE FUNDS | ||||||||||||||||||||||||
| Lease Payments Received | 21,064,313.05 | |||||||||||||||||||||||
| Net Sales Proceeds-early terminations (incl. Defaulted Leases) | 14,798,087.06 | |||||||||||||||||||||||
| Net Sales Proceeds-scheduled terminations | - | |||||||||||||||||||||||
| Thereof excess wear and tear received | 4,933.29 | |||||||||||||||||||||||
| Thereof excess mileage charges received | 3,872.10 | |||||||||||||||||||||||
| Subtotal | 35,871,205.50 | |||||||||||||||||||||||
| Reallocation Amount | - | |||||||||||||||||||||||
| Advances made by the Servicer | - | |||||||||||||||||||||||
| Investment Earnings | 106,940.87 | |||||||||||||||||||||||
| Total Available Funds | 35,978,146.37 | |||||||||||||||||||||||
| Reserve Account Draw | - | |||||||||||||||||||||||
| Available for Distribution | 35,978,146.37 |
| DISTRIBUTIONS | ||||||||||||||||||||||||
| (1) Reimbursement of Previous Advances | - | |||||||||||||||||||||||
| (2) Total Servicing Fee and Investment Earnings | 900,073.72 | (from Indenture Trustee to Servicer) | ||||||||||||||||||||||
| (3) Total Trustees and Asset Representations Reviewer (ARR) Fees | 866.67 | (from Indenture Trustee to Trustees and ARR) | ||||||||||||||||||||||
| (4) Interest Distributable Amount Class A Notes | 2,833,205.67 | (from Indenture Trustee to Noteholders) | ||||||||||||||||||||||
| Targeted Note Balance | 780,535,828.93 | |||||||||||||||||||||||
| (5) Principal Distribution Amount | 24,625,815.18 | (from Indenture Trustee to Noteholders) | ||||||||||||||||||||||
| (6) To Reserve Fund to reach the Reserve Fund Required Amount | - | (from Indenture Trustee to Reserve Account) | ||||||||||||||||||||||
| (7) Total Trustees and Asset Representations Reviewer Fees [not previously paid under (3)] | - | (from Indenture Trustee to Trustees and ARR) | ||||||||||||||||||||||
| (8) Excess Collections to Certificateholders | 7,618,185.13 | (from Indenture Trustee to Servicer) | ||||||||||||||||||||||
| Total Distribution | 35,978,146.37 | |||||||||||||||||||||||
| DISTRIBUTION DETAIL | ||||||||||||||||||||||||
|
Prior Period Shortfall |
Amount Due |
Amount Paid |
Shortfall | |||||||||||||||||||||
| Total Servicing | - | 793,132.85 | 793,132.85 | - | (from Indenture Trustee to Servicer) | |||||||||||||||||||
| Investment Earnings | - | 106,940.87 | 106,940.87 | - | (from Indenture Trustee to Servicer) | |||||||||||||||||||
| Trustee Fee - Indenture | - | 416.67 | 416.67 | - | (from Indenture Trustee to Trustees) | |||||||||||||||||||
| Trustee Fee - Owner | - | 450.00 | 450.00 | - | (from Indenture Trustee to Trustees) | |||||||||||||||||||
| Trustee Fee - Origination | - | - | - | - | (from Indenture Trustee to Trustees) | |||||||||||||||||||
| Asset Representations Reviewer Fee | - | - | - | - | (from Indenture Trustee to ARR) | |||||||||||||||||||
| Monthly Interest Distributable Amount | ||||||||||||||||||||||||
| thereof on Class A-1 Notes | - | 118,015.94 | 118,015.94 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-2a Notes | - | 951,541.67 | 951,541.67 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-2b Notes | - | 241,535.56 | 241,535.56 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-3 Notes | - | 1,299,112.50 | 1,299,112.50 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-4 Notes | - | 223,000.00 | 223,000.00 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| Interest Carryover Shortfall Amount | ||||||||||||||||||||||||
| thereof on Class A-1 Notes | - | - | - | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-2a Notes | - | - | - | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-2b Notes | - | - | - | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-3 Notes | - | - | - | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| thereof on Class A-4 Notes | - | - | - | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| Interest Distributable Amount Class A Notes | - | 2,833,205.67 | 2,833,205.67 | 0.00 | ||||||||||||||||||||
| Principal Distribution Amount | - | 24,625,815.18 | 24,625,815.18 | - | (from Indenture Trustee to Noteholders) | |||||||||||||||||||
| RESERVE FUND AND INVESTMENT EARNINGS | ||||||||||||||||||||||||
| Reserve Fund | ||||||||||||||||||||||||
| Reserve Fund Required Amount | 2,617,817.51 | |||||||||||||||||||||||
| Reserve Fund Amount - Beginning Balance | 2,617,817.51 | |||||||||||||||||||||||
| plus top up Reserve Fund up to the Required Amount | - | |||||||||||||||||||||||
| plus Net Investment Earnings for the Collection Period | 7,318.90 | |||||||||||||||||||||||
| minus Net Investment Earnings | 7,318.90 | |||||||||||||||||||||||
| minus Reserve Fund Draw Amount | - | |||||||||||||||||||||||
| Reserve Fund Amount - Ending Balance | 2,617,817.51 | |||||||||||||||||||||||
| Reserve Fund Deficiency | - | |||||||||||||||||||||||
| Investment Earnings | ||||||||||||||||||||||||
| Net Investment Earnings on the Reserve Fund | 7,318.90 | |||||||||||||||||||||||
| Net Investment Earnings on the Collection Account | 99,621.97 | |||||||||||||||||||||||
| Investment Earnings for the Collection Period | 106,940.87 | |||||||||||||||||||||||
| NOTICE TO INVESTORS | ||||||||||||||||||||||||
| POOL STATISTICS | ||||||||||||||||||||||||
| Pool Data | Number of | |||||||||||||||||||||||
| Amount | Receivables | |||||||||||||||||||||||
| Cutoff Date Securitization Value | 1,047,127,002.03 | 12,617 | ||||||||||||||||||||||
| Securitization Value beginning of Collection Period | 951,759,424.39 | 12,203 | ||||||||||||||||||||||
| Payments | 12,111,711.79 | 11,949 | ||||||||||||||||||||||
| Terminations- Early | 11,641,433.46 | 123 | ||||||||||||||||||||||
| Terminations- Scheduled | - | - | ||||||||||||||||||||||
| Repurchase Amounts | - | - | ||||||||||||||||||||||
| Gross Losses | 872,669.93 | 4 | ||||||||||||||||||||||
| Securitization Value end of Collection Period | 927,133,609.21 | 12,076 | ||||||||||||||||||||||
| Pool Factor | 88.54 | % | ||||||||||||||||||||||
| As of Cutoff Date | Previous | Current | ||||||||||||||||||||||
| Weighted Average Securitization Rate | 10.55 | % | 10.54 | % | 10.54 | % | ||||||||||||||||||
| Weighted Average Remaining Term (months) | 27.56 | 23.47 | 22.51 | |||||||||||||||||||||
| Weighted Average Seasoning (months) | 10.02 | 13.99 | 14.96 | |||||||||||||||||||||
| Aggregate Base Residual Value | 658,311,455.14 | 630,552,475.84 | 622,102,012.69 | |||||||||||||||||||||
| Monthly Turn-in Ratio | 12.20 | % | ||||||||||||||||||||||
| Cumulative Turn-in Ratio | 8.22 | % | ||||||||||||||||||||||
| Delinquency Profile | ||||||||||||||||||||||||
| Amount | Number of Contracts | Percentage | ||||||||||||||||||||||
| Current | 926,081,695.70 | 12,063 | 99.89 | % | ||||||||||||||||||||
| 31-60 Days Delinquent | 610,662.98 | 8 | 0.07 | % | ||||||||||||||||||||
| 61-90 Days Delinquent | 324,479.68 | 4 | 0.03 | % | ||||||||||||||||||||
| 91-120 Days Delinquent | 116,770.85 | 1 | 0.01 | % | ||||||||||||||||||||
| Total | 927,133,609.21 | 12,076 | 100.00 | % | ||||||||||||||||||||
| Total 30+ Days Delinquent | 1,051,913.51 | 13 | 0.11 | % | ||||||||||||||||||||
| Total 60+ Days Delinquent | 441,250.53 | 5 | 0.05 | % | ||||||||||||||||||||
| Delinquency Trigger (60+ Days) | 4.50 | % | ||||||||||||||||||||||
| Delinquency Trigger Occcured | No | |||||||||||||||||||||||
| Credit Loss | ||||||||||||||||||||||||
| Current | ||||||||||||||||||||||||
| Securitization Value of Credit-Loss Contracts BOP | 872,669.93 | |||||||||||||||||||||||
| Less Liquidation Proceeds | 413,458.88 | |||||||||||||||||||||||
| Less Recoveries | - | |||||||||||||||||||||||
| Current Net Credit Loss/(Gain) | 459,211.05 | |||||||||||||||||||||||
| Cumulative Net Credit Loss/(Gain) | 519,078.84 | |||||||||||||||||||||||
| Cumulative Net Credit Loss/(Gain) as % of Cutoff Date Securitization Value | 0.05 | % | ||||||||||||||||||||||
| Residual Loss | ||||||||||||||||||||||||
| Current | ||||||||||||||||||||||||
| Number of vehicles turned-in | 15 | |||||||||||||||||||||||
| Securitization Value of turned-in vehicles | 783,886.75 | |||||||||||||||||||||||
| Less sales proceeds and other payments received during period | 1,069,722.41 | |||||||||||||||||||||||
| Current Residual Loss/(Gain) | (285,835.66 | ) | ||||||||||||||||||||||
| Current Residual Loss/(Gain) % | -36.46 | % | ||||||||||||||||||||||
| Cumulative Residual Loss/(Gain) | (918,092.63 | ) | ||||||||||||||||||||||
| Cumulative Residual Loss/(Gain) as % of Cut-off Date Securitization Value | -0.09 | % | ||||||||||||||||||||||
| ABS Prepayment Speed | 1.02 | % | ||||||||||||||||||||||
| Summary of Material Modifications, Extensions or Waivers | ||||||||||||||||||||||||
| None in the current month | ||||||||||||||||||||||||
| Summary of Material Breaches of Representations or Warranties Related to Eligibility Criteria | ||||||||||||||||||||||||
| None in the current month | ||||||||||||||||||||||||
| Number of Reallocated Units | - | |||||||||||||||||||||||
| Aggregate Securitization Value of Reallocated Units | - | |||||||||||||||||||||||
| Reallocated Units Related to Postmaturity Term Extension | ||||||||||||||||||||||||
| None in the current month | ||||||||||||||||||||||||
| Number of Reallocated Units | - | |||||||||||||||||||||||
| Aggregate Securitization Value of Reallocated Units | - | |||||||||||||||||||||||
| Summary of Material Breaches by the Issuer of Covenants | ||||||||||||||||||||||||
| None in the current month | ||||||||||||||||||||||||
Porsche Auto Funding LLC published this content on October 26, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on October 26, 2026 at 19:30 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]