Exhibit 99.1
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
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MONTHLY SERVICER REPORT -- Honda Auto Receivables 2023-3 Owner Trust |
Collection Period: March 1, 2025 through March 31, 2025 |
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Deal Age |
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20 |
Determination Date: 04/14/2025 |
Actual/360 Days |
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31 |
Record Date: 04/17/2025 |
30/360 Days |
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30 |
Payment Date: 04/18/2025 |
ORIGINAL DEAL PARAMETERS
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Dollar Amount |
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Number of Receivables |
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Total Portfolio Balance |
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|
$ |
1,889,359,251.43 |
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84,946 |
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Accrual Basis |
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Dollar Amount |
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% of Pool |
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Interest Rate |
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Final Scheduled
Maturity Date |
Class A-1 Notes |
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Actual/360 |
|
$ |
409,600,000.00 |
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|
|
21.68 |
% |
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|
5.626 |
% |
|
August 19, 2024 |
Class A-2 Notes |
|
30/360 |
|
$ |
661,100,000.00 |
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|
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34.99 |
% |
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|
5.710 |
% |
|
March 18, 2026 |
Class A-3 Notes |
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30/360 |
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$ |
661,100,000.00 |
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|
|
34.99 |
% |
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|
5.410 |
% |
|
February 18, 2028 |
Class A-4 Notes |
|
30/360 |
|
$ |
110,306,000.00 |
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|
|
5.84 |
% |
|
|
5.300 |
% |
|
December 18, 2029 |
Certificates |
|
30/360 |
|
$ |
47,253,251.43 |
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|
2.50 |
% |
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|
0.000 |
% |
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|
Total Securities Balance |
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|
$ |
1,889,359,251.43 |
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Total Note Balance |
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$ |
1,842,106,000.00 |
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Reserve Account Initial Deposit |
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$ |
4,723,398.13 |
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Yield Supplement Account Deposit |
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$ |
184,670,383.64 |
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COLLECTIONS
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Interest Collections |
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Simple Interest Collections |
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$ |
2,832,852.00 |
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Interest Related to Repurchased Receivables |
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$ |
0.00 |
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Interest Advance for simple Interest - Net * |
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$ |
0.00 |
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Total Interest Collections |
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$ |
2,832,852.00 |
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* Advances are reimbursed (including outstanding advances of $0.00): |
(i) from subsequent payments, liquidation proceeds and servicer repurchase payments in respect of the related obligor, and |
(ii) to the extent amounts in clause (i) are insufficient, generally from interest (with respect to interest advances). |
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Principal Collections |
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Principal Collections |
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$ |
33,044,295.81 |
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Prepayments in Full |
|
$ |
13,203,511.42 |
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Liquidation Proceeds |
|
$ |
161,462.23 |
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Principal Related to Repurchased Receivables |
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$ |
0.00 |
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Recoveries from Prior Month Charge Offs |
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$ |
168,484.40 |
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Total Principal Collections |
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$ |
46,577,753.86 |
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Total Interest and Principal Collections |
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$ |
49,410,605.86 |
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Yield Supplement Deposit |
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$ |
4,407,980.17 |
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Collection Account Investment Earnings |
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$ |
0.00 |
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Total Available Amount |
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$ |
53,818,586.03 |
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SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
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|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2023-3 Owner Trust |
Collection Period: March 1, 2025 through March 31, 2025 |
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|
Deal Age |
|
20 |
Determination Date: 04/14/2025 |
Actual/360 Days |
|
31 |
Record Date: 04/17/2025 |
30/360 Days |
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30 |
Payment Date: 04/18/2025 |
DISTRIBUTIONS
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Note Percentage |
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100.00 |
% |
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Certificate Percentage |
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|
0.00 |
% |
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Amount Due |
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Amount Paid |
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Shortfall |
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Total Servicing Fee |
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1.00 |
% |
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|
$ |
721,121.96 |
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$ |
721,121.96 |
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|
$ |
0.00 |
|
Trustee Fees |
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$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
0.00 |
|
Asset Representations Reviewer Fees (Accrued & Unpaid) |
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$ |
0.00 |
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Interest - Class A-1 Notes |
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$ |
0.00 |
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$ |
0.00 |
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$ |
0.00 |
|
Interest - Class A-2 Notes |
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|
$ |
222,152.79 |
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|
$ |
222,152.79 |
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|
$ |
0.00 |
|
Interest - Class A-3 Notes |
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|
$ |
2,980,459.17 |
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$ |
2,980,459.17 |
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$ |
0.00 |
|
Interest - Class A-4 Notes |
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$ |
487,184.83 |
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$ |
487,184.83 |
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$ |
0.00 |
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Total Monthly Interest |
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$ |
3,689,796.79 |
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$ |
3,689,796.79 |
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$ |
0.00 |
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Principal - Class A-1 Notes |
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$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
0.00 |
|
Principal - Class A-2 Notes |
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|
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|
$ |
46,607,322.46 |
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|
$ |
46,607,322.46 |
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|
$ |
0.00 |
|
Principal - Class A-3 Notes |
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|
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|
$ |
0.00 |
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$ |
0.00 |
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|
$ |
0.00 |
|
Principal - Class A-4 Notes |
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|
$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
0.00 |
|
Total Monthly Principal |
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|
$ |
46,607,322.46 |
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$ |
46,607,322.46 |
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$ |
0.00 |
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Interest - Certificates |
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$ |
0.00 |
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$ |
0.00 |
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$ |
0.00 |
|
Principal - Certificates |
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$ |
0.00 |
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$ |
0.00 |
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$ |
0.00 |
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Available to Deposit |
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Reserve Deposit |
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Reserve Draw |
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Excess Released |
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Released to Seller |
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Reserve Account Deposit |
|
$ |
2,800,344.82 |
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|
$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
2,800,344.82 |
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Noteholder/Certificateholder Distributions
(Per $1000 of Original Principal Amount) |
|
Fee |
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Interest |
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Interest
Shortfall |
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Principal |
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Principal
Shortfall |
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Amount
Distributed |
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Servicing Fee |
|
$ |
0.38 |
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|
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$ |
721,121.96 |
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Trustee Fees |
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$ |
0.00 |
|
Asset Representation Reviewer Fees |
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$ |
0.00 |
|
Class A-1 Notes |
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|
$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
Class A-2 Notes |
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|
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|
$ |
0.34 |
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|
$ |
0.00 |
|
|
$ |
70.50 |
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|
$ |
0.00 |
|
|
$ |
46,829,475.25 |
|
Class A-3 Notes |
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|
|
|
$ |
4.51 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
2,980,459.17 |
|
Class A-4 Notes |
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|
|
|
$ |
4.42 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
487,184.83 |
|
Certificates |
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|
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|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
0.00 |
|
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
|
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|
|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2023-3 Owner Trust |
Collection Period: March 1, 2025 through March 31, 2025 |
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|
|
|
|
|
|
|
|
|
|
|
|
Deal Age |
|
20 |
Determination Date: 04/14/2025 |
Actual/360 Days |
|
31 |
Record Date: 04/17/2025 |
30/360 Days |
|
30 |
Payment Date: 04/18/2025 |
POOL DATA
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Proceeding Month |
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Carryover Shortfall |
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Beginning of Period |
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End of Period |
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Interest |
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Principal |
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Balance |
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Note Factor |
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Balance |
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|
Note Factor |
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Class A-1 Notes |
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$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
0.00 |
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|
|
0.0000000 |
|
|
$ |
0.00 |
|
|
|
0.0000000 |
|
Class A-2 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
46,687,102.00 |
|
|
|
0.0706203 |
|
|
$ |
79,779.54 |
|
|
|
0.0001207 |
|
Class A-3 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
661,100,000.00 |
|
|
|
1.0000000 |
|
|
$ |
661,100,000.00 |
|
|
|
1.0000000 |
|
Class A-4 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
110,306,000.00 |
|
|
|
1.0000000 |
|
|
$ |
110,306,000.00 |
|
|
|
1.0000000 |
|
Certificates |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
47,253,251.43 |
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|
|
1.0000000 |
|
|
$ |
47,253,251.43 |
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|
|
1.0000000 |
|
Total Securities |
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|
|
|
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|
$ |
865,346,353.43 |
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|
|
0.4580105 |
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|
$ |
818,739,030.97 |
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|
|
0.4333422 |
|
Total Notes |
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|
$ |
818,093,102.00 |
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|
|
0.4441075 |
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|
$ |
771,485,779.54 |
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|
|
0.4188064 |
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Portfolio Information |
|
Original |
|
|
Prior Month |
|
|
Current Month |
|
Weighted Average Coupon (WAC) |
|
|
4.00 |
% |
|
|
4.17 |
% |
|
|
4.19 |
% |
Weighted Average Remaining Maturity (WAM) |
|
|
49.25 |
|
|
|
32.76 |
|
|
|
31.97 |
|
Weighted Average Original Maturity (WAOM) |
|
|
61.62 |
|
|
|
|
|
|
|
Remaining Number of Receivables |
|
|
84,946 |
|
|
|
61,814 |
|
|
|
60,283 |
|
Portfolio Receivable Balance |
|
$ |
1,889,359,251.43 |
|
|
$ |
865,346,353.43 |
|
|
$ |
818,739,030.97 |
|
DELINQUENCY AND NET LOSS ACTIVITY
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|
Net Loss and Delinquency Account Activity |
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|
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|
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Amount |
|
Gross Principal Balance on Defaulted Receivables |
|
|
|
|
|
$ |
359,515.23 |
|
Liquidation Proceeds |
|
|
|
|
|
$ |
161,462.23 |
|
Recoveries on Previously Defaulted Contracts |
|
|
|
|
|
$ |
168,484.40 |
|
Aggregate Net Losses for Collection Period |
|
|
|
|
|
$ |
29,568.60 |
|
Net Loss Rate for Collection Period's Average Balance (annualized) |
|
|
|
|
0.04 |
% |
Cumulative Net Losses for all Periods |
|
|
|
|
|
$ |
3,574,712.83 |
|
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|
|
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|
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|
|
|
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|
Delinquent Receivables |
|
# Units |
|
|
% Unit |
|
|
Dollar Amount |
|
|
% Dollar |
|
31-60 Days Delinquent |
|
|
323 |
|
|
|
0.54 |
% |
|
$ |
6,031,902.17 |
|
|
|
0.74 |
% |
61-90 Days Delinquent |
|
|
81 |
|
|
|
0.13 |
% |
|
$ |
1,358,761.37 |
|
|
|
0.17 |
% |
91-120 Days Delinquent |
|
|
18 |
|
|
|
0.03 |
% |
|
$ |
389,351.92 |
|
|
|
0.05 |
% |
121 Days or More Delinquent |
|
|
0 |
|
|
|
0.00 |
% |
|
$ |
0.00 |
|
|
|
0.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
Repossession Activity |
|
# Units |
|
|
% Unit |
|
|
Dollar Amount |
|
|
% Dollar |
|
Vehicles Repossessed During Collection Period |
|
|
16 |
|
|
|
0.03 |
% |
|
$ |
383,478.69 |
|
|
|
0.05 |
% |
Total Accumulated Repossessed Vehicles in Inventory |
|
|
25 |
|
|
|
0.04 |
% |
|
$ |
587,514.68 |
|
|
|
0.07 |
% |
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
|
|
|
|
|
|
|
|
|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2023-3 Owner Trust |
Collection Period: March 1, 2025 through March 31, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deal Age |
|
20 |
Determination Date: 04/14/2025 |
Actual/360 Days |
|
31 |
Record Date: 04/17/2025 |
30/360 Days |
|
30 |
Payment Date: 04/18/2025 |
DELINQUENCY AND NET LOSS ACTIVITY
|
|
|
|
|
|
|
|
|
Net Loss and Delinquency Ratios |
|
|
|
|
|
|
|
Ratio of Net Losses to the Pool Balance as of Each Collection Period |
|
Third Preceding Collection Period |
|
|
|
|
|
|
0.08 |
% |
Second Preceding Collection Period |
|
|
|
|
|
|
0.17 |
% |
Preceding Collection Period |
|
|
|
|
|
|
0.15 |
% |
Current Collection Period |
|
|
|
|
|
|
0.04 |
% |
Four Month Average |
|
|
|
|
|
|
0.11 |
% |
Ratio of Number of Contracts Delinquent 61 Days or More to the Outstanding Number of Receivables (includes repossessions in inventory) |
|
|
|
Second Preceding Collection Period |
|
|
|
|
|
|
0.23 |
% |
Preceding Collection Period |
|
|
|
|
|
|
0.21 |
% |
Current Collection Period |
|
|
|
|
|
|
0.21 |
% |
Three Month Average |
|
|
|
|
|
|
0.22 |
% |
|
|
|
|
|
|
|
|
|
Delinquency Trigger |
|
4.80% |
|
Delinquency Percentage exceeds Delinquency Trigger: |
|
No |
Delinquency Percentage - |
|
0.21% |
|
|
|
|
|
|
Receivables that are 61 days or more delinquent as a percentage of Current Outstanding Balance of Receivables |
LOSS AND CUMULATIVE LOSS INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Current Month |
|
|
Cumulative |
|
For Assets Experiencing a Loss: |
|
Units |
|
|
Amount |
|
|
Units |
|
|
Amount |
|
Gross Principal
on Defaulted Receivables |
|
14 |
|
|
$ |
335,963.75 |
|
|
|
359 |
|
|
$ |
8,137,582.10 |
|
Liquidation Proceeds and Recoveries
on Defaulted Receivables |
|
46 |
|
|
$ |
304,993.85 |
|
|
|
296 |
|
|
$ |
4,543,166.62 |
|
Net Loss Amount |
|
14 |
|
|
$ |
30,969.90 |
|
|
|
359 |
|
|
$ |
3,594,415.48 |
|
Net Loss % of Average
Portfolio Balance (Annualized) |
|
|
|
|
0.04 |
% |
|
|
|
|
|
|
Cumulative Net Loss %
of Initial Balance |
|
|
|
|
|
|
|
|
|
|
0.19 |
% |
Average Net Loss of
Assets Experiencing a Loss |
|
|
|
|
|
|
|
|
|
$ |
10,012.30 |
|
CREDIT ENHANCEMENT
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Reserve Account |
|
|
|
|
Reconciliation of Yield Supplement Account |
|
Beginning Reserve Account Balance |
|
$ |
4,723,398.13 |
|
|
Beginning Yield Supplement
Account Balance |
|
$ |
52,135,039.27 |
|
Investment Earnings |
|
$ |
17,128.45 |
|
|
Investment Earnings |
|
$ |
196,909.63 |
|
Excess Interest Deposited into the Reserve Account |
|
$ |
0.00 |
|
|
Additional Yield Supplement Amounts |
|
$ |
0.00 |
|
Investment Withdrawal to Seller |
|
$ |
(17,128.45 |
) |
|
Yield Supplement Withdrawal Amount |
|
$ |
4,407,980.17 |
|
Release of Reserve to Collection Account |
|
$ |
0.00 |
|
|
Investment Earnings Withdraw |
|
$ |
0.00 |
|
Release of Reserve to Seller |
|
$ |
0.00 |
|
|
Release of Yield Supplement Account Balance to Seller |
|
$ |
0.00 |
|
Ending Reserve Account Balance |
|
$ |
4,723,398.13 |
|
|
Ending Yield Supplement Account Balance |
|
$ |
47,923,968.73 |
|
|
|
|
|
|
|
|
|
|
Reserve Account Required Amount |
|
$ |
4,723,398.13 |
|
|
|
|
|
|
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
|
|
|
|
|
|
|
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|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2023-3 Owner Trust |
Collection Period: March 1, 2025 through March 31, 2025 |
|
|
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|
|
|
|
|
|
|
|
|
|
Deal Age |
|
20 |
Determination Date: 04/14/2025 |
Actual/360 Days |
|
31 |
Record Date: 04/17/2025 |
30/360 Days |
|
30 |
Payment Date: 04/18/2025 |
REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
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|
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Is there any activity to report? |
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No |
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|
STATEMENT TO NOTEHOLDERS
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Has there been a material change in practices with respect to charge-offs, collection and management of delinquent receivables, and the effect of any grace period, re-aging, re-structuring, partial payments or other practices on delinquency and loss experience? |
|
No |
|
|
|
|
|
|
|
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Have there been any material modifications, extensions or waivers to receivables terms, fees, penalties or payments during the collection period? |
|
No |
|
|
|
|
|
|
|
|
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Have there been any material breaches of representations, warranties or covenants contained in the receivables? |
|
|
|
No |
|
|
|
|
|
|
|
|
|
Has there been an issuance of notes or other securities backed by the receivables? |
|
|
|
No |
|
|
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|
|
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Has there been a material change in the underwriting, origination or acquisition of receivables? |
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No |
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|
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|
|
|
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|
SERVICER CERTIFICATION
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|
|
I hereby certify that the servicing report provided is true and accurate to the best of my knowledge. |
|
|
|
/s/ Paul C. Honda |
|
|
Paul C. Honda |
|
|
Vice President-Finance & Administration and Assistant Secretary |
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|
