Exhibit 99.1
Servicer’s Certificate
for the Collection Period March 01, 2024 through March 31, 2024
for Payment Date of April 15, 2024
Toyota Auto Receivables 2020-B 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 |
Second Priority Principal Distribution Amount |
Regular Principal Distribution Amount |
Ending Principal Balance |
Ending Principal Factor |
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| A-1 | $240,000,000.00 | 5/17/21 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2 | $450,000,000.00 | 12/15/22 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-3 | $393,040,000.00 | 8/15/24 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-4 | $86,960,000.00 | 9/15/25 | $21,786,298.37 | 0.2505324 | $21,786,298.37 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| B | $30,000,000.00 | 11/16/26 | $30,000,000.00 | 1.0000000 | $0.00 | $30,000,000.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
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| Total | $1,200,000,000.00 | $51,786,298.37 | $21,786,298.37 | $30,000,000.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||||
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| Class | Interest Rate | Interest Distributable Amount |
Prior Interest Carryover |
Interest Distribution Amount |
Current Interest Carryover |
Total Principal & Interest Distribution |
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| A-1 | 1.14133% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2 | 1.38000% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-3 | 1.36000% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-4 | 1.66000% | $30,137.71 | $0.00 | $30,137.71 | $0.00 | $21,816,436.08 | ||||||||||||||||||||
| B | $0.00 | $0.00 | $0.00 | $0.00 | $30,000,000.00 | |||||||||||||||||||||
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| Total | $30,137.71 | $0.00 | $30,137.71 | $0.00 | $51,816,436.08 | |||||||||||||||||||||
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Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
| Initial Deposit Amount |
$12,000,017.68 | Beginning Period Amount |
$815,594.56 | |||||||
| Specified Reserve Account Amount |
$0.00 | Increase/(Decrease) |
$(144,536.17 | ) | ||||||
| Beginning Balance |
$12,000,017.68 | Ending Period Amount |
$671,058.39 | |||||||
| Withdrawals |
$0.00 | |||||||||
| Amount Available for Deposit |
$23,124,170.02 | Overcollateralization | ||||||||
| Amount Deposited to the Reserve Account |
$0.00 | |||||||||
| Reserve Account Balance Prior to Release |
$12,000,017.68 | Adjusted Pool Balance |
$54,227,910.33 | |||||||
| Reserve Account Required Amount |
$0.00 | Total Note Balance |
$0.00 | |||||||
| Reserve Account Release to Seller |
$12,000,017.68 | Ending Overcollateralization Amount |
$54,227,910.33 | |||||||
| Ending Reserve Account Balance |
$0.00 | Overcollateralization Target Amount |
$10,200,015.02 | |||||||
Page 1 of 5
Servicer’s Certificate
for the Collection Period March 01, 2024 through March 31, 2024
for Payment Date of April 15, 2024
Toyota Auto Receivables 2020-B 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 |
10 | 502 | 492 | 483 | 471 | |||||||||||||||
| Gross Principal of Liquidated Receivables |
$85,662.89 | $7,555,863.44 | $7,470,200.55 | $7,407,332.52 | $7,304,114.88 | |||||||||||||||
| Principal of Repurchased Contracts, previously charged-off |
$0.00 | $(47,105.39 | ) | $(47,105.39 | ) | $(47,105.39 | ) | $(31,847.24 | ) | |||||||||||
| Net Liquidation Proceeds Received During the Collection Period |
$1,856.01 | $(1,388,416.50 | ) | $(1,390,272.51 | ) | $(1,390,272.51 | ) | $(1,393,113.88 | ) | |||||||||||
| Recoveries on Previously Liquidated Contracts |
$(70,025.65 | ) | $(4,077,517.84 | ) | $(4,007,492.19 | ) | $(3,921,208.86 | ) | $(3,838,451.24 | ) | ||||||||||
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| Net Credit Losses |
$17,493.25 | $2,042,823.71 | $2,025,330.46 | $2,048,745.76 | $2,040,702.52 | |||||||||||||||
| Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
0.74344% | 0.72863% | 0.71530% | 0.69753% | ||||||||||||||||
| Number of Accounts with Liquidation Proceeds or Recoveries |
482 | 472 | 457 | 449 | ||||||||||||||||
| Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.40389% | 0.39313% | 0.39038% | 0.38168% | ||||||||||||||||
| Number of Assets Experiencing a Net Loss |
321 | 317 | 318 | 312 | ||||||||||||||||
| Net Credit Losses for Assets Experiencing a Loss |
$2,090,223.63 | $2,071,536.72 | $2,092,373.83 | $2,082,810.41 | ||||||||||||||||
| Average Net Loss on all assets that have Experienced a Net Loss |
$6,511.60 | $6,534.82 | $6,579.79 | $6,675.67 | ||||||||||||||||
| Cumulative Net Loss Ratio |
0.16017% | 0.15880% | 0.16064% | 0.16001% | ||||||||||||||||
| Repossessed in Current Period |
3 vehicles | |||||||||||||||||||
Pool Data
| Original | Prior Month | Current Month | ||||||||||||||
| Receivables Pool Balance |
$1,275,392,995.27 | $62,801,907.95 | $54,898,968.72 | |||||||||||||
| Number of Contracts |
67,524 | 13,311 | 12,259 | |||||||||||||
| Weighted Average APR |
3.26% | 4.19% | 4.25% | |||||||||||||
| Weighted Average Remaining Term (Months) |
49.34 | 12.76 | 12.13 | |||||||||||||
Page 2 of 5
Servicer’s Certificate
for the Collection Period March 01, 2024 through March 31, 2024
for Payment Date of April 15, 2024
Toyota Auto Receivables 2020-B 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 |
$6,204,152.69 | |||
| Prepayments in Full |
$1,613,123.65 | |||
| Interest Payments Received |
$208,508.64 | |||
| Aggregate Net Liquidation Proceeds |
$68,169.64 | |||
| Interest on Repurchased Contracts |
$0.00 | |||
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| Total Collections |
$8,093,954.62 | |||
| Principal of Repurchased Contracts |
$0.00 | |||
| Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
| Optional Purchase Price |
$66,898,986.40 | |||
| Adjustment on Repurchased Contracts |
$0.00 | |||
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| Total Repurchased Amount |
$66,898,986.40 | |||
| Total Available Collections |
$74,992,941.02 |
Distributions
| Calculated Amount | Amount Paid | Shortfall | ||||||||||||||
| Servicing Fee |
$52,334.92 | $52,334.92 | $0.00 | |||||||||||||
| Trustee and Other Fees/Expenses (capped at $300,000.00 per calendar year) |
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| 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-2 Notes |
$0.00 | $0.00 | $0.00 | |||||||||||||
| Interest - Class A-3 Notes |
$0.00 | $0.00 | $0.00 | |||||||||||||
| Interest - Class A-4 Notes |
$30,137.71 | $30,137.71 | $0.00 | |||||||||||||
| First Priority Principal Distribution Amount |
$21,786,298.37 | $21,786,298.37 | $0.00 | |||||||||||||
| Interest - Class B Notes |
$0.00 | $0.00 | $0.00 | |||||||||||||
| Second Priority Principal Distribution Amount |
$30,000,000.00 | $30,000,000.00 | $0.00 | |||||||||||||
| Reserve Account Deposit |
$0.00 | $0.00 | $0.00 | |||||||||||||
| Regular Principal Distribution Amount |
$0.00 | $0.00 | $0.00 | |||||||||||||
| Additional Trustee and Other Fees/Expenses |
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| 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 |
$23,124,170.02 | $23,124,170.02 | N/A | |||||||||||||
Page 3 of 5
Servicer’s Certificate
for the Collection Period March 01, 2024 through March 31, 2024
for Payment Date of April 15, 2024
Toyota Auto Receivables 2020-B 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 |
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| Class A-1 Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||||||||||
| Class A-2 Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||||||||||
| Class A-3 Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||||||||||
| Class A-4 Notes |
$30,137.71 | $0.35 | $21,786,298.37 | $250.53 | $21,816,436.08 | $250.88 | ||||||||||||||||||||||||||||
| Class B Notes |
$0.00 | $0.00 | $30,000,000.00 | $1,000.00 | $30,000,000.00 | $1,000.00 | ||||||||||||||||||||||||||||
Delinquent and Repossessed Contracts
| Percentage of Current Month Number of Contracts |
Units | Percentage of Current Month Receivables Pool Balance |
Balance | |||||||||||||
| 30-59 Days Delinquent |
1.42% | 174 | 2.30% | $1,260,688.22 | ||||||||||||
| 60-89 Days Delinquent |
0.33% | 41 | 0.67% | $365,417.34 | ||||||||||||
| 90-119 Days Delinquent |
0.16% | 20 | 0.28% | $155,141.37 | ||||||||||||
| 120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
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| Total Delinquencies |
1.91% | 235 | 3.25% | $1,781,246.93 | ||||||||||||
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| Total Delinquencies - Prior Period |
1.80% | 3.05% | ||||||||||||||
| Total Delinquencies - Two Months Prior |
1.89% | 3.09% | ||||||||||||||
| Total Delinquencies - Three Months Prior |
2.07% | 3.09% | ||||||||||||||
| Receivables Pool Balance |
$54,898,968.72 | |||||||||||||||
| 60-Day Delinquency Percentage |
0.95% | |||||||||||||||
| Delinquency Trigger Percentage |
4.65% | |||||||||||||||
| Has a Delinquency Trigger occurred in this Collection Period? |
No | |||||||||||||||
| Repossessed Vehicle Inventory* |
3 vehicles | |||||||||||||||
| * Included with Delinquencies Above |
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Page 4 of 5
Servicer’s Certificate
for the Collection Period March 01, 2024 through March 31, 2024
for Payment Date of April 15, 2024
Toyota Auto Receivables 2020-B 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/ Stephen Bishop | ||
| Name: | Stephen Bishop | |
| Title: | General Manager - Treasury | |
Page 5 of 5