Exhibit 99.1
Servicer’s Certificate
for the Collection Period August 01, 2022 through August 31, 2022
for Payment Date of September 15, 2022
Toyota Auto Receivables 2021-A 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 |
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| A-1 | $331,000,000.00 | 2/15/22 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2 | $574,000,000.00 | 7/17/23 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-3 | $638,500,000.00 | 5/15/25 | $577,820,562.71 | 0.9049656 | $0.00 | $23,323,466.89 | $14,875,000.01 | $539,622,095.81 | 0.8451403 | |||||||||||||||||||||||||||
| A-4 | $162,750,000.00 | 6/15/26 | $162,750,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $162,750,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| B | $43,750,000.00 | 9/15/27 | $43,750,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $43,750,000.00 | 1.0000000 | |||||||||||||||||||||||||||
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| Total | $1,750,000,000.00 | $784,320,562.71 | $0.00 | $23,323,466.89 | $14,875,000.01 | $746,122,095.81 | 0.4263555 | |||||||||||||||||||||||||||||
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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 | 0.15013% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2 | 0.16000% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-3 | 0.26000% | $125,194.46 | $0.00 | $125,194.46 | $0.00 | $38,323,661.36 | ||||||||||||||||||||
| A-4 | 0.39000% | $52,893.75 | $0.00 | $52,893.75 | $0.00 | $52,893.75 | ||||||||||||||||||||
| B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||
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| Total | $178,088.21 | $0.00 | $178,088.21 | $0.00 | $38,376,555.11 | |||||||||||||||||||||
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Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
| Initial Deposit Amount |
$4,375,000.00 | Beginning Period Amount |
$23,452,907.20 | |||||||
| Specified Reserve Account Amount |
$4,375,000.00 | Increase/(Decrease) |
$(1,654,590.24 | ) | ||||||
| Beginning Balance |
$4,375,000.00 | Ending Period Amount |
$21,798,316.96 | |||||||
| Withdrawals |
$0.00 | |||||||||
| Amount Available for Deposit |
$17,661,439.02 | Overcollateralization | ||||||||
| Amount Deposited to the Reserve Account |
$0.00 | |||||||||
| Reserve Account Balance Prior to Release |
$4,375,000.00 | Adjusted Pool Balance |
$760,997,095.82 | |||||||
| Reserve Account Required Amount |
$4,375,000.00 | Total Note Balance |
$746,122,095.81 | |||||||
| Reserve Account Release to Seller |
$0.00 | Ending Overcollateralization Amount |
$14,875,000.01 | |||||||
| Ending Reserve Account Balance |
$4,375,000.00 | Overcollateralization Target Amount |
$14,875,000.01 | |||||||
Page 1 of 5
Servicer’s Certificate
for the Collection Period August 01, 2022 through August 31, 2022
for Payment Date of September 15, 2022
Toyota Auto Receivables 2021-A 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 |
15 | 288 | 273 | 259 | 242 | |||||||||||||||
| Gross Principal of Liquidated Receivables |
$245,067.53 | $4,839,583.56 | $4,594,516.03 | $4,408,042.10 | $4,128,267.25 | |||||||||||||||
| Principal of Repurchased Contracts, previously charged-off |
$0.00 | $(1,127.38 | ) | $(1,127.38 | ) | $(1,127.38 | ) | $(1,127.38 | ) | |||||||||||
| Net Liquidation Proceeds Received During the Collection Period |
$1,706.68 | $(983,280.22 | ) | $(984,986.90 | ) | $(962,337.09 | ) | $(938,452.87 | ) | |||||||||||
| Recoveries on Previously Liquidated Contracts |
$(106,725.94 | ) | $(1,926,244.37 | ) | $(1,819,518.43 | ) | $(1,664,935.97 | ) | $(1,425,175.68 | ) | ||||||||||
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| Net Credit Losses |
$140,048.27 | $1,928,931.59 | $1,788,883.32 | $1,779,641.66 | $1,763,511.32 | |||||||||||||||
| Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
0.32015% | 0.30347% | 0.28791% | 0.26901% | ||||||||||||||||
| Number of Accounts with Liquidation Proceeds or Recoveries |
266 | 252 | 234 | 213 | ||||||||||||||||
| Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.15638% | 0.14229% | 0.13889% | 0.13503% | ||||||||||||||||
| Number of Assets Experiencing a Net Loss |
197 | 186 | 178 | 173 | ||||||||||||||||
| Net Credit Losses for Assets Experiencing a Loss |
$1,952,007.99 | $1,811,146.45 | $1,801,600.45 | $1,782,939.79 | ||||||||||||||||
| Average Net Loss on all assets that have Experienced a Net Loss |
$9,908.67 | $9,737.35 | $10,121.35 | $10,306.01 | ||||||||||||||||
| Cumulative Net Loss Ratio |
0.10582% | 0.09814% | 0.09763% | 0.09675% | ||||||||||||||||
| Repossessed in Current Period |
6 vehicles | |||||||||||||||||||
Pool Data
| Original | Prior Month | Current Month | ||||||||||||||
| Receivables Pool Balance |
$1,822,777,183.25 | $822,648,469.92 | $782,795,412.78 | |||||||||||||
| Number of Contracts |
89,958 | 59,908 | 58,516 | |||||||||||||
| Weighted Average APR |
3.06% | 2.99% | 2.99% | |||||||||||||
| Weighted Average Remaining Term (Months) |
51.24 | 35.08 | 34.25 | |||||||||||||
| Extensions Granted for the Applicable Month |
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| Two Months Prior | Prior Month | Current Month | ||||||||||||||
| Number of Contracts Granted Payment Extensions |
72 | 67 | 99 | |||||||||||||
| Number of Contracts Granted Extensions as % of Outstanding Contracts as of Beginning of Month |
0.12% | 0.11% | 0.17% | |||||||||||||
Page 2 of 5
Servicer’s Certificate
for the Collection Period August 01, 2022 through August 31, 2022
for Payment Date of September 15, 2022
Toyota Auto Receivables 2021-A 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 |
$28,376,230.01 | |||
| Prepayments in Full |
$11,223,436.91 | |||
| Interest Payments Received |
$2,135,518.90 | |||
| Aggregate Net Liquidation Proceeds |
$105,019.26 | |||
| Interest on Repurchased Contracts |
$6.74 | |||
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| Total Collections |
$41,840,211.82 | |||
| Principal of Repurchased Contracts |
$8,322.69 | |||
| Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
| Adjustment on Repurchased Contracts |
$0.00 | |||
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| Total Repurchased Amount |
$8,322.69 | |||
| Total Available Collections |
$41,848,534.51 | |||
Distributions
| Calculated Amount | Amount Paid | Shortfall | ||||||||||||||
| Servicing Fee |
$685,540.39 | $685,540.39 | $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 |
$125,194.46 | $125,194.46 | $0.00 | |||||||||||||
| Interest - Class A-4 Notes |
$52,893.75 | $52,893.75 | $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 |
$23,323,466.89 | $23,323,466.89 | $0.00 | |||||||||||||
| Reserve Account Deposit |
$0.00 | $0.00 | $0.00 | |||||||||||||
| Regular Principal Distribution Amount |
$14,875,000.01 | $14,875,000.01 | $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 |
$2,786,439.01 | $2,786,439.01 | N/A | |||||||||||||
Page 3 of 5
Servicer’s Certificate
for the Collection Period August 01, 2022 through August 31, 2022
for Payment Date of September 15, 2022
Toyota Auto Receivables 2021-A 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 |
$125,194.46 | $0.20 | $38,198,466.90 | $59.83 | $38,323,661.36 | $60.03 | ||||||||||||||||||||||||||||
| Class A-4 Notes |
$52,893.75 | $0.33 | $0.00 | $0.00 | $52,893.75 | $0.33 | ||||||||||||||||||||||||||||
| 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 |
0.56% | 328 | 0.71% | $5,530,068.14 | ||||||||||||
| 60-89 Days Delinquent |
0.13% | 75 | 0.14% | $1,125,460.81 | ||||||||||||
| 90-119 Days Delinquent |
0.05% | 30 | 0.06% | $504,788.21 | ||||||||||||
| 120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
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| Total Delinquencies |
0.74% | 433 | 0.91% | $7,160,317.16 | ||||||||||||
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| Total Delinquencies - Prior Period |
0.79% | 0.95% | ||||||||||||||
| Total Delinquencies - Two Months Prior |
0.62% | 0.76% | ||||||||||||||
| Total Delinquencies - Three Months Prior |
0.69% | 0.81% | ||||||||||||||
| Receivables Pool Balance |
$782,795,412.78 | |||||||||||||||
| 60-Day Delinquency Percentage |
0.21% | |||||||||||||||
| Delinquency Trigger Percentage |
4.65% | |||||||||||||||
| Has a Delinquency Trigger occurred in this Collection Period? |
No | |||||||||||||||
| Repossessed Vehicle Inventory* |
7 vehicles | |||||||||||||||
| * Included with Delinquencies Above |
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Page 4 of 5
Servicer’s Certificate
for the Collection Period August 01, 2022 through August 31, 2022
for Payment Date of September 15, 2022
Toyota Auto Receivables 2021-A 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: | Group Manager - Treasury | |
Page 5 of 5