Porsche Auto Funding LLC
09/24/2026 | Press release | Distributed by Public on 09/24/2026 13:37
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 | 8/31/2026 | |||||||||||||||||||||||
| DATES | ||||||||||||||||||||||||
| Collection Period No. | 3 | |||||||||||||||||||||||
| Begin | End | # days | ||||||||||||||||||||||
| Collection Period | 8/1/2026 | 8/31/2026 | 31 | |||||||||||||||||||||
| Determination Date | 9/17/2026 | |||||||||||||||||||||||
| Record Date | 9/18/2026 | |||||||||||||||||||||||
| Payment Date | 9/21/2026 | |||||||||||||||||||||||
| Monthly Interest Period - Actual/360 | 8/20/2026 | 9/21/2026 | 32 | |||||||||||||||||||||
| Monthly Interest - 30/360 | 8/20/2026 | 9/21/2026 | 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 | 60,340,703.48 | 22,179,059.37 | 38,161,644.11 | 0.2650114 | 265.0114174 | ||||||||||||||||||
| Class A-2a Notes | 278,500,000.00 | 278,500,000.00 | - | 278,500,000.00 | 1.0000000 | 1000.00000000 | ||||||||||||||||||
| Class A-2b Notes | 75,000,000.00 | 75,000,000.00 | - | 75,000,000.00 | 1.0000000 | 1000.00000000 | ||||||||||||||||||
| Class A-3 Notes | 353,500,000.00 | 353,500,000.00 | - | 353,500,000.00 | 1.0000000 | 1000.00000000 | ||||||||||||||||||
| Class A-4 Notes | 60,000,000.00 | 60,000,000.00 | - | 60,000,000.00 | 1.0000000 | 1000.00000000 | ||||||||||||||||||
| Total Note Balance | 911,000,000.00 | 827,340,703.48 | 22,179,059.37 | 805,161,644.11 | ||||||||||||||||||||
| Overcollateralization | 136,127,002.03 | 146,597,780.28 | 146,597,780.28 | |||||||||||||||||||||
| Total Securitization Value | 1,047,127,002.03 | 973,938,483.76 | 951,759,424.39 | |||||||||||||||||||||
| Present Value of Lease Payment | 435,138,714.90 | |||||||||||||||||||||||
| Present Value of Residual Value | 516,620,709.49 | |||||||||||||||||||||||
| 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 | % | 205,909.30 | 1.4299257 | 154.0212456 | 22,384,968.67 | ||||||||||||||||||
| Class A-2a Notes | 4.100 | % | 951,541.67 | 3.4166667 | - | 951,541.67 | ||||||||||||||||||
| Class A-2b Notes | 3.989 | % | 265,922.67 | 3.5456356 | - | 265,922.67 | ||||||||||||||||||
| 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 | 2,945,486.14 | 25,124,545.51 | ||||||||||||||||||||||
| AVAILABLE FUNDS | ||||||||||||||||||||||||
| Lease Payments Received | 21,149,852.11 | |||||||||||||||||||||||
| Net Sales Proceeds-early terminations (incl. Defaulted Leases) | 11,330,441.13 | |||||||||||||||||||||||
| Net Sales Proceeds-scheduled terminations | - | |||||||||||||||||||||||
| Thereof excess wear and tear received | 10,952.21 | |||||||||||||||||||||||
| Thereof excess mileage charges received | 3,082.20 | |||||||||||||||||||||||
| Subtotal | 32,494,327.65 | |||||||||||||||||||||||
| Reallocation Amount | - | |||||||||||||||||||||||
| Advances made by the Servicer | - | |||||||||||||||||||||||
| Investment Earnings | 122,547.59 | |||||||||||||||||||||||
| Total Available Funds | 32,616,875.24 | |||||||||||||||||||||||
| Reserve Account Draw | - | |||||||||||||||||||||||
| Available for Distribution | 32,616,875.24 |
| DISTRIBUTIONS | ||||||||||||||||||||||||
| (1) Reimbursement of Previous Advances | - | |||||||||||||||||||||||
| (2) Total Servicing Fee and Investment Earnings | 934,162.99 | (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 | 2,945,486.14 | (from Indenture Trustee to Noteholders) | ||||||||||||||||||||||
| Targeted Note Balance | 805,161,644.11 | |||||||||||||||||||||||
| (5) Principal Distribution Amount | 22,179,059.37 | (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 | 6,557,300.07 | (from Indenture Trustee to Servicer) | ||||||||||||||||||||||
| Total Distribution | 32,616,875.24 | |||||||||||||||||||||||
| DISTRIBUTION DETAIL | ||||||||||||||||||||||||
|
Prior Period Shortfall |
Amount Due |
Amount Paid |
Shortfall | |||||||||||||||||||||
| Total Servicing | - | 811,615.40 | 811,615.40 | - | (from Indenture Trustee to Servicer) | |||||||||||||||||||
| Investment Earnings | - | 122,547.59 | 122,547.59 | - | (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 | - | 205,909.30 | 205,909.30 | - | (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 | - | 265,922.67 | 265,922.67 | - | (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 | - | 2,945,486.14 | 2,945,486.14 | 0.00 | ||||||||||||||||||||
| Principal Distribution Amount | - | 22,179,059.37 | 22,179,059.37 | - | (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 | 7,561.05 | |||||||||||||||||||||||
| minus Net Investment Earnings | 7,561.05 | |||||||||||||||||||||||
| 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 | 7,561.05 | |||||||||||||||||||||||
| Net Investment Earnings on the Collection Account | 114,986.54 | |||||||||||||||||||||||
| Investment Earnings for the Collection Period | 122,547.59 | |||||||||||||||||||||||
| 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 | 973,938,483.76 | 12,297 | ||||||||||||||||||||||
| Payments | 12,796,792.29 | 12,109 | ||||||||||||||||||||||
| Terminations- Early | 9,382,267.08 | 94 | ||||||||||||||||||||||
| Terminations- Scheduled | - | - | ||||||||||||||||||||||
| Repurchase Amounts | - | - | ||||||||||||||||||||||
| Gross Losses | - | - | ||||||||||||||||||||||
| Securitization Value end of Collection Period | 951,759,424.39 | 12,203 | ||||||||||||||||||||||
| Pool Factor | 90.89 | % | ||||||||||||||||||||||
| As of Cutoff Date | Previous | Current | ||||||||||||||||||||||
| Weighted Average Securitization Rate | 10.55 | % | 10.54 | % | 10.54 | % | ||||||||||||||||||
| Weighted Average Remaining Term (months) | 27.56 | 24.46 | 23.47 | |||||||||||||||||||||
| Weighted Average Seasoning (months) | 10.02 | 13.01 | 13.99 | |||||||||||||||||||||
| Aggregate Base Residual Value | 658,311,455.14 | 636,883,817.84 | 630,552,475.84 | |||||||||||||||||||||
| Monthly Turn-in Ratio | 11.70 | % | ||||||||||||||||||||||
| Cumulative Turn-in Ratio | 7.04 | % | ||||||||||||||||||||||
| Delinquency Profile | ||||||||||||||||||||||||
| Amount | Number of Contracts | Percentage | ||||||||||||||||||||||
| Current | 950,917,766.30 | 12,195 | 99.91 | % | ||||||||||||||||||||
| 31-60 Days Delinquent | 723,276.49 | 7 | 0.08 | % | ||||||||||||||||||||
| 61-90 Days Delinquent | 118,381.60 | 1 | 0.01 | % | ||||||||||||||||||||
| 91-120 Days Delinquent | - | - | 0.00 | % | ||||||||||||||||||||
| Total | 951,759,424.39 | 12,203 | 100.00 | % | ||||||||||||||||||||
| Total 30+ Days Delinquent | 841,658.09 | 8 | 0.09 | % | ||||||||||||||||||||
| Total 60+ Days Delinquent | 118,381.60 | 1 | 0.01 | % | ||||||||||||||||||||
| Delinquency Trigger (60+ Days) | 4.50 | % | ||||||||||||||||||||||
| Delinquency Trigger Occcured | No | |||||||||||||||||||||||
| Credit Loss | ||||||||||||||||||||||||
| Current | ||||||||||||||||||||||||
| Securitization Value of Credit-Loss Contracts BOP | - | |||||||||||||||||||||||
| Less Liquidation Proceeds | - | |||||||||||||||||||||||
| Less Recoveries | - | |||||||||||||||||||||||
| Current Net Credit Loss/(Gain) | - | |||||||||||||||||||||||
| Cumulative Net Credit Loss/(Gain) | 59,867.79 | |||||||||||||||||||||||
| Cumulative Net Credit Loss/(Gain) as % of Cutoff Date Securitization Value | 0.01 | % | ||||||||||||||||||||||
| Residual Loss | ||||||||||||||||||||||||
| Current | ||||||||||||||||||||||||
| Number of vehicles turned-in | 11 | |||||||||||||||||||||||
| Securitization Value of turned-in vehicles | 658,680.80 | |||||||||||||||||||||||
| Less sales proceeds and other payments received during period | 892,606.40 | |||||||||||||||||||||||
| Current Residual Loss/(Gain) | (233,925.60 | ) | ||||||||||||||||||||||
| Current Residual Loss/(Gain) % | -35.51 | % | ||||||||||||||||||||||
| Cumulative Residual Loss/(Gain) | (632,256.97 | ) | ||||||||||||||||||||||
| Cumulative Residual Loss/(Gain) as % of Cut-off Date Securitization Value | -0.06 | % | ||||||||||||||||||||||
| ABS Prepayment Speed | 0.84 | % | ||||||||||||||||||||||
| 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 September 24, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on September 24, 2026 at 19:37 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]