Ford Credit Auto Owner Trust 2023-C
12/18/2025 | Press release | Distributed by Public on 12/18/2025 07:00
Asset-Backed Issuer Distribution Report (Form 10-D)
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | November 2025 | ||||
| Payment Date | 12/15/2025 | ||||
| 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 | $ | 1,443,380,079.18 | 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 | 4.69202 | % | * | 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 | $ | 2,331,755.01 | |||
| Principal: | |||||
| Principal Collections | $ | 16,659,204.14 | |||
| Prepayments in Full | $ | 8,035,724.05 | |||
| Liquidation Proceeds | $ | 338,063.22 | |||
| Recoveries | $ | 139,034.82 | |||
| Sub Total | $ | 25,172,026.23 | |||
| Collections | $ | 27,503,781.24 | |||
| Purchase Amounts: | |||||
| Purchase Amounts Related to Principal | $ | 94,326.31 | |||
| Purchase Amounts Related to Interest | $ | 507.54 | |||
| Sub Total | $ | 94,833.85 | |||
| Clean-up Call | $ | 0.00 | |||
| Reserve Account Draw Amount | $ | 0.00 | |||
| Available Funds - Total | $ | 27,598,615.09 | |||
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Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | November 2025 | ||||
| Payment Date | 12/15/2025 | ||||
| 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 | $ | 27,598,615.09 | |||||||||||||||||||
| Servicing Fee | $ | 464,923.14 | $ | 464,923.14 | $ | 0.00 | $ | 0.00 | $ | 27,133,691.95 | |||||||||||||||||||
| Interest - Class A-1 Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 27,133,691.95 | |||||||||||||||||||
| Interest - Class A-2a Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 27,133,691.95 | |||||||||||||||||||
| Interest - Class A-2b Notes | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 27,133,691.95 | |||||||||||||||||||
| Interest - Class A-3 Notes | $ | 1,639,431.05 | $ | 1,639,431.05 | $ | 0.00 | $ | 0.00 | $ | 25,494,260.90 | |||||||||||||||||||
| Interest - Class A-4 Notes | $ | 285,937.50 | $ | 285,937.50 | $ | 0.00 | $ | 0.00 | $ | 25,208,323.40 | |||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 25,208,323.40 | |||||||||||||||||||
| Interest - Class B Notes | $ | 195,097.00 | $ | 195,097.00 | $ | 0.00 | $ | 0.00 | $ | 25,013,226.40 | |||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 25,013,226.40 | |||||||||||||||||||
| Interest - Class C Notes | $ | 139,609.17 | $ | 139,609.17 | $ | 0.00 | $ | 0.00 | $ | 24,873,617.23 | |||||||||||||||||||
| Reserve Account Deposit | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 24,873,617.23 | |||||||||||||||||||
| Regular Principal Payment | $ | 22,683,379.67 | $ | 22,683,379.67 | $ | 0.00 | $ | 0.00 | $ | 2,190,237.56 | |||||||||||||||||||
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 0.00 | $ | 2,190,237.56 | |||||||||||||||||||
| Residual Released to Depositor | $ | 0.00 | $ | 2,190,237.56 | $ | 0.00 | $ | 0.00 | $ | 0.00 | |||||||||||||||||||
| Total | $ | 27,598,615.09 | |||||||||||||||||||||||||||
| Principal Payment: | |||||||||||||||||||||||||||||
| First Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Second Priority Principal Payment | $ | 0.00 | |||||||||||||||||||||||||||
| Regular Principal Payment | $ | 22,683,379.67 | |||||||||||||||||||||||||||
| Total | $ | 22,683,379.67 | |||||||||||||||||||||||||||
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 | $ | 22,683,379.67 | $ | 49.18 | $ | 1,639,431.05 | $ | 3.55 | $ | 24,322,810.72 | $ | 52.73 | |||||||||||||||||||||||
| 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 | $ | 22,683,379.67 | $ | 17.24 | $ | 2,260,074.72 | $ | 1.72 | $ | 24,943,454.39 | $ | 18.96 | |||||||||||||||||||||||
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Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | November 2025 | ||||
| Payment Date | 12/15/2025 | ||||
| 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 | $ | 355,753,573.90 | 0.7712815 | $ | 333,070,194.23 | 0.7221034 | |||||||||||||||||
| 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 | $ | 484,033,573.90 | 0.3678682 | $ | 461,350,194.23 | 0.3506287 | |||||||||||||||||
| Pool Information | |||||||||||
| Weighted Average APR | 5.454 | % | 5.480 | % | |||||||
| Weighted Average Remaining Term | 37.98 | 37.28 | |||||||||
| Number of Receivables Outstanding | 23,395 | 22,820 | |||||||||
| Pool Balance | $ | 557,907,767.34 | $ | 532,483,275.59 | |||||||
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 515,428,483.02 | $ | 492,363,735.97 | |||||||
| Pool Factor | 0.3865287 | 0.3689141 | |||||||||
VI. OVERCOLLATERALIZATION INFORMATION
| Specified Reserve Balance | $ | 3,289,470.37 | |||
| Yield Supplement Overcollateralization Amount | $ | 40,119,539.62 | |||
| Targeted Overcollateralization Amount | $ | 71,133,081.36 | |||
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 71,133,081.36 | |||
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 | November 2025 | ||||
| Payment Date | 12/15/2025 | ||||
| Transaction Month | 25 | ||||
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| # of Receivables | Amount | ||||||||||||||||
| Current Collection Period Loss: | |||||||||||||||||
| Realized Loss (Charge-Offs) | 58 | $ | 297,174.03 | ||||||||||||||
| (Recoveries) | 53 | $ | 139,034.82 | ||||||||||||||
| Net Loss for Current Collection Period | $ | 158,139.21 | |||||||||||||||
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | 0.3401 | % | |||||||||||||||
| Prior and Current Collection Periods Average Loss: | |||||||||||||||||
| Ratio of Net Loss to the Average Pool Balance (annualized) | |||||||||||||||||
| Third Prior Collection Period | 0.5753 | % | |||||||||||||||
| Second Prior Collection Period | 0.8671 | % | |||||||||||||||
| Prior Collection Period | 1.0862 | % | |||||||||||||||
| Current Collection Period | 0.3481 | % | |||||||||||||||
| Four Month Average (Current and Prior Three Collection Periods) | 0.7191 | % | |||||||||||||||
| Cumulative Loss: | |||||||||||||||||
| Cumulative Realized Loss (Charge-Offs) | 1,685 | $ | 8,983,404.37 | ||||||||||||||
| (Cumulative Recoveries) | $ | 1,090,875.93 | |||||||||||||||
| Cumulative Net Loss for All Collection Periods | $ | 7,892,528.44 | |||||||||||||||
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | 0.5468 | % | |||||||||||||||
| Average Realized Loss for Receivables that have experienced a Realized Loss | $ | 5,331.40 | |||||||||||||||
| Average Net Loss for Receivables that have experienced a Realized Loss | $ | 4,683.99 | |||||||||||||||
| % of EOP Pool Balance | # of Receivables | Amount | |||||||||||||||
| Delinquent Receivables: | |||||||||||||||||
| 31-60 Days Delinquent | 1.21 | % | 194 | $ | 6,420,153.65 | ||||||||||||
| 61-90 Days Delinquent | 0.33 | % | 49 | $ | 1,732,222.08 | ||||||||||||
| 91-120 Days Delinquent | 0.05 | % | 8 | $ | 265,831.45 | ||||||||||||
| Over 120 Days Delinquent | 0.07 | % | 8 | $ | 350,437.79 | ||||||||||||
| Total Delinquent Receivables | 1.65 | % | 259 | $ | 8,768,644.97 | ||||||||||||
| Repossession Inventory: | |||||||||||||||||
| Repossessed in the Current Collection Period | 16 | $ | 702,770.75 | ||||||||||||||
| Total Repossessed Inventory | 26 | $ | 1,090,259.53 | ||||||||||||||
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | |||||||||||||||||
| Second Prior Collection Period | 0.2162 | % | |||||||||||||||
| Prior Collection Period | 0.1966 | % | |||||||||||||||
| Current Collection Period | 0.2848 | % | |||||||||||||||
| Three Month Average | 0.2325 | % | |||||||||||||||
| 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 | 0.4410 | % | |||||||||||||||
| Delinquency Trigger Occurred | No | ||||||||||||||||
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Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| Collection Period | November 2025 | ||||
| Payment Date | 12/15/2025 | ||||
| Transaction Month | 25 | ||||
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount | ||||||||||||
| 1 Month Extended | 74 | $2,440,666.12 | ||||||||||||
| 2 Months Extended | 105 | $3,554,652.89 | ||||||||||||
| 3+ Months Extended | 19 | $721,475.24 | ||||||||||||
| Total Receivables Extended | 198 | $6,716,794.25 | ||||||||||||
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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Ford Credit Auto Owner Trust 2023-C published this content on December 18, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on December 18, 2025 at 13:00 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]