Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| | | | | |
| Collection Period | March 2025 |
| Payment Date | 4/15/2025 |
| 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 | $1,732,167,317.56 | | 48,752 | | 57.8 months |
| | | | | |
| Dollar Amount | | Note Interest Rate | | Final Scheduled Payment Date |
| Original Securities | | | | | |
| Class A-1 Notes | $ | 300,000,000.00 | | | 5.028 | % | | April 15, 2024 |
| Class A-2a Notes | $ | 359,000,000.00 | | | 5.14 | % | | March 15, 2026 |
| Class A-2b Notes | $ | 235,000,000.00 | | | 5.06867 | % | * | March 15, 2026 |
| Class A-3 Notes | $ | 510,000,000.00 | | | 4.65 | % | | February 15, 2028 |
| Class A-4 Notes | $ | 96,000,000.00 | | | 4.56 | % | | December 15, 2028 |
| Class B Notes | $ | 47,330,000.00 | | | 5.07 | % | | January 15, 2029 |
| Class C Notes | $ | 31,610,000.00 | | | 5.51 | % | | September 15, 2030 |
| Total | $ | 1,578,940,000.00 | | | | | |
| | | * 30-day average SOFR + 0.72% |
II. AVAILABLE FUNDS
| | | | | |
| Interest: | |
| Interest Collections | $ | 2,878,936.07 | |
| |
| Principal: | |
| Principal Collections | $ | 21,499,935.34 | |
| Prepayments in Full | $ | 10,264,566.43 | |
| Liquidation Proceeds | $ | 615,528.15 | |
| Recoveries | $ | 101,376.12 | |
| Sub Total | $ | 32,481,406.04 | |
| Collections | $ | 35,360,342.11 | |
| |
| Purchase Amounts: | |
| Purchase Amounts Related to Principal | $ | 171,530.53 | |
| Purchase Amounts Related to Interest | $ | 1,093.98 | |
| Sub Total | $ | 172,624.51 | |
| |
| Clean-up Call | $ | 0.00 | |
| |
| Reserve Account Draw Amount | $ | 0.00 | |
| |
| Available Funds - Total | $35,532,966.62 |
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| | | | | |
| Collection Period | March 2025 |
| Payment Date | 4/15/2025 |
| 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 | | | $ | 35,532,966.62 | |
| Servicing Fee | $ | 585,545.85 | | | $ | 585,545.85 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 34,947,420.77 | |
| Interest - Class A-1 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 34,947,420.77 | |
| Interest - Class A-2a Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 34,947,420.77 | |
| Interest - Class A-2b Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 34,947,420.77 | |
| Interest - Class A-3 Notes | $ | 1,688,031.93 | | | $ | 1,688,031.93 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,259,388.84 | |
| Interest - Class A-4 Notes | $ | 364,800.00 | | | $ | 364,800.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 32,894,588.84 | |
| First Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 32,894,588.84 | |
| Interest - Class B Notes | $ | 199,969.25 | | | $ | 199,969.25 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 32,694,619.59 | |
| Second Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 32,694,619.59 | |
| Interest - Class C Notes | $ | 145,142.58 | | | $ | 145,142.58 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 32,549,477.01 | |
| Reserve Account Deposit | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 32,549,477.01 | |
| Regular Principal Payment | $ | 29,840,421.04 | | | $ | 29,840,421.04 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 2,709,055.97 | |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 2,709,055.97 | |
| Residual Released to Depositor | $ | 0.00 | | | $ | 2,709,055.97 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Total | | | $ | 35,532,966.62 | | | | | | | |
| | | | | | | | | |
| Principal Payment: | | | | | | | | | |
| First Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Second Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Regular Principal Payment | | | | | | | | | $ | 29,840,421.04 | |
| Total | | | | | | | | | $ | 29,840,421.04 | |
| | | | | | | | | |
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 | $ | 29,840,421.04 | | | $ | 58.51 | | | $ | 1,688,031.93 | | | $ | 3.31 | | | $ | 31,528,452.97 | | | $ | 61.82 | |
| Class A-4 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 364,800.00 | | | $ | 3.80 | | | $ | 364,800.00 | | | $ | 3.80 | |
| Class B Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 199,969.25 | | | $ | 4.23 | | | $ | 199,969.25 | | | $ | 4.23 | |
| Class C Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 145,142.58 | | | $ | 4.59 | | | $ | 145,142.58 | | | $ | 4.59 | |
| Total | $ | 29,840,421.04 | | | $ | 18.90 | | | $ | 2,397,943.76 | | | $ | 1.52 | | | $ | 32,238,364.80 | | | $ | 20.42 | |
| | | | | | | | | | | |
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| | | | | |
| Collection Period | March 2025 |
| Payment Date | 4/15/2025 |
| 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 | $ | 435,621,142.10 | | | 0.8541591 | | $ | 405,780,721.06 | | | 0.7956485 |
| Class A-4 Notes | $ | 96,000,000.00 | | | 1.0000000 | | $ | 96,000,000.00 | | | 1.0000000 |
| Class B Notes | $ | 47,330,000.00 | | | 1.0000000 | | $ | 47,330,000.00 | | | 1.0000000 |
| Class C Notes | $ | 31,610,000.00 | | | 1.0000000 | | $ | 31,610,000.00 | | | 1.0000000 |
| Total | $ | 610,561,142.10 | | | 0.3866905 | | $ | 580,720,721.06 | | | 0.3677915 |
| | | | | | | | | | | |
| Pool Information | | | |
| Weighted Average APR | 5.150 | % | | 5.179 | % |
| Weighted Average Remaining Term | 39.23 | | 38.50 |
| Number of Receivables Outstanding | 28,910 | | 28,183 |
| Pool Balance | $ | 702,655,017.47 | | | $ | 669,442,652.46 | |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 648,732,553.73 | | | $ | 618,393,947.22 | |
| Pool Factor | 0.4056508 | | 0.3864769 |
| | | |
VI. OVERCOLLATERALIZATION INFORMATION
| | | | | |
| Specified Reserve Balance | $ | 3,947,369.48 | |
| Yield Supplement Overcollateralization Amount | $ | 51,048,705.24 | |
| Targeted Overcollateralization Amount | $ | 88,721,931.40 | |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 88,721,931.40 | |
| |
VII. RECONCILIATION OF RESERVE ACCOUNT
| | | | | |
| Beginning Reserve Account Balance | $ | 3,947,369.48 | |
| Reserve Account Deposits Made | $ | 0.00 | |
| Reserve Account Draw Amount | $ | 0.00 | |
| Ending Reserve Account Balance | $ | 3,947,369.48 | |
| Change in Reserve Account Balance | $ | 0.00 | |
| Specified Reserve Balance | $ | 3,947,369.48 | |
| |
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| | | | | |
| Collection Period | March 2025 |
| Payment Date | 4/15/2025 |
| Transaction Month | 25 | |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| | | | | | | | | | | | | | | | | |
| | | # of Receivables | | Amount |
| Current Collection Period Loss: | | | | | |
| Realized Loss (Charge-Offs) | | | 99 | | $ | 660,804.56 | |
| (Recoveries) | | | 65 | | $ | 101,376.12 | |
| Net Loss for Current Collection Period | | | | | $ | 559,428.44 | |
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | | | | | 0.9554 | % |
| | | | | |
| Prior and Current Collection Periods Average Loss: | | | | | |
| | | | | |
| Ratio of Net Loss to the Average Pool Balance (annualized) | | | | | |
| Third Prior Collection Period | | | | | 0.8712 | % |
| Second Prior Collection Period | | 0.7396 | % |
| Prior Collection Period | | | | | 0.7505 | % |
| Current Collection Period | | | | | 0.9785 | % |
| Four Month Average (Current and Prior Three Collection Periods) | | | | | 0.8350 | % |
| | | | | |
| Cumulative Loss: | | | | | |
| Cumulative Realized Loss (Charge-Offs) | | | 1,904 | | $ | 11,453,896.27 | |
| (Cumulative Recoveries) | | | | | $ | 1,449,076.60 | |
| Cumulative Net Loss for All Collection Periods | | | | | $ | 10,004,819.67 | |
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | | | | 0.5776 | % |
| | | | | |
| Average Realized Loss for Receivables that have experienced a Realized Loss | | | | | $ | 6,015.70 | |
| Average Net Loss for Receivables that have experienced a Realized Loss | | | | | $ | 5,254.63 | |
| | | | | |
| % of EOP Pool Balance | | # of Receivables | | Amount |
| Delinquent Receivables: | | | | | |
| 31-60 Days Delinquent | 1.53 | % | | 308 | | $ | 10,275,040.04 | |
| 61-90 Days Delinquent | 0.15 | % | | 30 | | $ | 1,032,232.81 | |
| 91-120 Days Delinquent | 0.06 | % | | 8 | | $ | 378,221.59 | |
| Over 120 Days Delinquent | 0.08 | % | | 15 | | $ | 567,267.16 | |
| Total Delinquent Receivables | 1.83 | % | | 361 | | $ | 12,252,761.60 | |
|
| Repossession Inventory: | | | | | |
| Repossessed in the Current Collection Period | | | 15 | | $ | 601,272.43 | |
| Total Repossessed Inventory | | | 30 | | $ | 1,171,443.88 | |
| | | | | |
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | | |
| Second Prior Collection Period | | | | | 0.2399 | % |
| Prior Collection Period | | | | | 0.1972 | % |
| Current Collection Period | | | | | 0.1881 | % |
| Three Month Average | | | | | 0.2084 | % |
| | | | | |
| 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 | | | | | 0.2954 | % |
| Delinquency Trigger Occurred | | | | | No |
Ford Credit Auto Owner Trust 2023-A
Monthly Investor Report
| | | | | |
| Collection Period | March 2025 |
| Payment Date | 4/15/2025 |
| Transaction Month | 25 | |
| | | | | | | | | | | | | | |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| | | | |
| 1 Month Extended | | | 69 | $2,146,075.16 |
| 2 Months Extended | | | 112 | $4,240,909.49 |
| 3+ Months Extended | | | 25 | $1,031,296.41 |
| | | | |
| Total Receivables Extended | 206 | $7,418,281.06 |
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