Exhibit 99.1
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
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MONTHLY SERVICER REPORT -- Honda Auto Receivables 2024-2 Owner Trust |
Collection Period: March 1, 2025 through March 31, 2025 |
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Deal Age |
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11 |
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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$ |
2,159,259,750.25 |
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92,372 |
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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 |
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$ |
517,200,000.00 |
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|
|
23.95 |
% |
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|
5.505 |
% |
|
May 19, 2025 |
Class A-2 Notes |
|
30/360 |
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$ |
678,200,000.00 |
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31.41 |
% |
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|
5.480 |
% |
|
November 18, 2026 |
Class A-3 Notes |
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30/360 |
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$ |
778,200,000.00 |
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36.04 |
% |
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|
5.270 |
% |
|
November 20, 2028 |
Class A-4 Notes |
|
30/360 |
|
$ |
131,670,000.00 |
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|
|
6.10 |
% |
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|
5.210 |
% |
|
July 18, 2030 |
Certificates |
|
30/360 |
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$ |
53,989,750.25 |
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2.50 |
% |
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|
0.000 |
% |
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Total Securities Balance |
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$ |
2,159,259,750.25 |
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Total Note Balance |
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$ |
2,105,270,000.00 |
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Reserve Account Initial Deposit |
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$ |
5,398,149.38 |
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Yield Supplement Account Deposit |
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$ |
177,060,750.06 |
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COLLECTIONS
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Interest Collections |
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Simple Interest Collections |
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$ |
5,490,738.67 |
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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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$ |
5,490,738.67 |
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* Advances are reimbursed (including outstanding advances of $0.00): |
(i) from subsequent payments, liquidation proceeds and servicer repurchase payments in respect of the related obligor, and |
(ii) to the extent amounts in clause (i) are insufficient, generally from interest (with respect to interest advances). |
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Principal Collections |
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Principal Collections |
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$ |
42,656,419.13 |
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Prepayments in Full |
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$ |
19,757,132.96 |
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Liquidation Proceeds |
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$ |
725,229.74 |
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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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$ |
174,747.61 |
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Total Principal Collections |
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$ |
63,313,529.44 |
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Total Interest and Principal Collections |
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$ |
68,804,268.11 |
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Yield Supplement Deposit |
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$ |
6,445,744.21 |
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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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$ |
75,250,012.32 |
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SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
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|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2024-2 Owner Trust |
Collection Period: March 1, 2025 through March 31, 2025 |
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Deal Age |
|
11 |
Determination Date: 04/14/2025 |
Actual/360 Days |
|
31 |
Record Date: 04/17/2025 |
30/360 Days |
|
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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$ |
1,199,565.46 |
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|
$ |
1,199,565.46 |
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$ |
0.00 |
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Trustee Fees |
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$ |
0.00 |
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$ |
0.00 |
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$ |
0.00 |
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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 |
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Interest - Class A-2 Notes |
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$ |
2,171,992.55 |
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$ |
2,171,992.55 |
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$ |
0.00 |
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Interest - Class A-3 Notes |
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$ |
3,417,595.00 |
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$ |
3,417,595.00 |
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$ |
0.00 |
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Interest - Class A-4 Notes |
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$ |
571,667.25 |
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$ |
571,667.25 |
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$ |
0.00 |
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Total Monthly Interest |
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$ |
6,161,254.80 |
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$ |
6,161,254.80 |
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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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|
$ |
63,880,341.52 |
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$ |
63,880,341.52 |
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$ |
0.00 |
|
Principal - Class A-3 Notes |
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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 |
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Total Monthly Principal |
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$ |
63,880,341.52 |
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$ |
63,880,341.52 |
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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 |
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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 |
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$ |
4,008,850.54 |
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|
$ |
0.00 |
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$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
4,008,850.54 |
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Noteholder/Certificateholder Distributions
(Per $1000 of Original Principal Amount) |
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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 |
|
$ |
0.56 |
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$ |
1,199,565.46 |
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Trustee Fees |
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$ |
0.00 |
|
Asset Representation Reviewer Fees |
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$ |
0.00 |
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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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|
$ |
0.00 |
|
|
$ |
0.00 |
|
Class A-2 Notes |
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|
$ |
3.20 |
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|
$ |
0.00 |
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|
$ |
94.19 |
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|
$ |
0.00 |
|
|
$ |
66,052,334.07 |
|
Class A-3 Notes |
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|
|
|
$ |
4.39 |
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|
$ |
0.00 |
|
|
$ |
0.00 |
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|
$ |
0.00 |
|
|
$ |
3,417,595.00 |
|
Class A-4 Notes |
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|
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|
$ |
4.34 |
|
|
$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
0.00 |
|
|
$ |
571,667.25 |
|
Certificates |
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|
$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
0.00 |
|
|
$ |
0.00 |
|
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
|
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|
|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2024-2 Owner Trust |
Collection Period: March 1, 2025 through March 31, 2025 |
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|
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|
|
|
|
|
|
|
|
|
|
Deal Age |
|
11 |
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 |
|
$ |
0.00 |
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|
$ |
0.00 |
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|
$ |
0.00 |
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|
|
0.0000000 |
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|
$ |
0.00 |
|
|
|
0.0000000 |
|
Class A-2 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
475,618,806.08 |
|
|
|
0.7012958 |
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|
$ |
411,738,464.56 |
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|
|
0.6071048 |
|
Class A-3 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
778,200,000.00 |
|
|
|
1.0000000 |
|
|
$ |
778,200,000.00 |
|
|
|
1.0000000 |
|
Class A-4 Notes |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
131,670,000.00 |
|
|
|
1.0000000 |
|
|
$ |
131,670,000.00 |
|
|
|
1.0000000 |
|
Certificates |
|
$ |
0.00 |
|
|
$ |
0.00 |
|
|
$ |
53,989,750.25 |
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|
|
1.0000000 |
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|
$ |
53,989,750.25 |
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|
|
1.0000000 |
|
Total Securities |
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|
$ |
1,439,478,556.33 |
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|
|
0.6666537 |
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|
$ |
1,375,598,214.81 |
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|
|
0.6370694 |
|
Total Notes |
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|
$ |
1,385,488,806.08 |
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|
|
0.6581050 |
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|
$ |
1,321,608,464.56 |
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|
|
0.6277620 |
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Portfolio Information |
|
Original |
|
|
Prior Month |
|
|
Current Month |
|
Weighted Average Coupon (WAC) |
|
|
4.74 |
% |
|
|
4.87 |
% |
|
|
4.88 |
% |
Weighted Average Remaining Maturity (WAM) |
|
|
50.94 |
|
|
|
41.38 |
|
|
|
40.56 |
|
Weighted Average Original Maturity (WAOM) |
|
|
63.17 |
|
|
|
|
|
|
|
Remaining Number of Receivables |
|
|
92,372 |
|
|
|
77,953 |
|
|
|
76,212 |
|
Portfolio Receivable Balance |
|
$ |
2,159,259,750.25 |
|
|
$ |
1,439,478,556.33 |
|
|
$ |
1,375,598,214.81 |
|
DELINQUENCY AND NET LOSS ACTIVITY
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|
Net Loss and Delinquency Account Activity |
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Amount |
|
Gross Principal Balance on Defaulted Receivables |
|
|
|
|
|
$ |
1,466,789.43 |
|
Liquidation Proceeds |
|
|
|
|
|
$ |
725,229.74 |
|
Recoveries on Previously Defaulted Contracts |
|
|
|
|
|
$ |
174,747.61 |
|
Aggregate Net Losses for Collection Period |
|
|
|
|
|
$ |
566,812.08 |
|
Net Loss Rate for Collection Period's Average Balance (annualized) |
|
|
|
|
0.48 |
% |
Cumulative Net Losses for all Periods |
|
|
|
|
|
$ |
3,892,618.09 |
|
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|
Delinquent Receivables |
|
# Units |
|
|
% Unit |
|
|
Dollar Amount |
|
|
% Dollar |
|
31-60 Days Delinquent |
|
|
394 |
|
|
|
0.52 |
% |
|
$ |
8,684,013.55 |
|
|
|
0.63 |
% |
61-90 Days Delinquent |
|
|
78 |
|
|
|
0.10 |
% |
|
$ |
1,863,060.58 |
|
|
|
0.14 |
% |
91-120 Days Delinquent |
|
|
26 |
|
|
|
0.03 |
% |
|
$ |
563,478.01 |
|
|
|
0.04 |
% |
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 |
|
|
|
0.02 |
% |
|
$ |
322,396.09 |
|
|
|
0.02 |
% |
Total Accumulated Repossessed Vehicles in Inventory |
|
|
42 |
|
|
|
0.06 |
% |
|
$ |
1,006,957.10 |
|
|
|
0.07 |
% |
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
|
|
|
|
|
|
|
|
|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2024-2 Owner Trust |
Collection Period: March 1, 2025 through March 31, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deal Age |
|
11 |
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 |
|
|
|
|
|
|
0.31 |
% |
Second Preceding Collection Period |
|
|
|
|
|
|
0.51 |
% |
Preceding Collection Period |
|
|
|
|
|
|
0.34 |
% |
Current Collection Period |
|
|
|
|
|
|
0.48 |
% |
Four Month Average |
|
|
|
|
|
|
0.41 |
% |
Ratio of Number of Contracts Delinquent 61 Days or More to the Outstanding Number of Receivables (includes repossessions in inventory) |
|
|
|
Second Preceding Collection Period |
|
|
|
|
|
|
0.27 |
% |
Preceding Collection Period |
|
|
|
|
|
|
0.26 |
% |
Current Collection Period |
|
|
|
|
|
|
0.19 |
% |
Three Month Average |
|
|
|
|
|
|
0.24 |
% |
|
|
|
|
|
|
|
|
|
Delinquency Trigger |
|
4.80% |
|
Delinquency Percentage exceeds Delinquency Trigger: |
|
No |
Delinquency Percentage - |
|
0.18% |
|
|
|
|
|
|
Receivables that are 61 days or more delinquent as a percentage of Current Outstanding Balance of Receivables |
LOSS AND CUMULATIVE LOSS INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Month |
|
|
Cumulative |
|
For Assets Experiencing a Loss: |
|
Units |
|
|
Amount |
|
|
Units |
|
|
Amount |
|
Gross Principal
on Defaulted Receivables |
|
54 |
|
|
$ |
1,465,815.80 |
|
|
|
321 |
|
|
$ |
8,194,768.15 |
|
Liquidation Proceeds and Recoveries
on Defaulted Receivables |
|
72 |
|
|
$ |
869,365.39 |
|
|
|
260 |
|
|
$ |
4,254,824.49 |
|
Net Loss Amount |
|
54 |
|
|
$ |
596,450.41 |
|
|
|
321 |
|
|
$ |
3,939,943.66 |
|
Net Loss % of Average
Portfolio Balance (Annualized) |
|
|
|
|
0.51 |
% |
|
|
|
|
|
|
Cumulative Net Loss %
of Initial Balance |
|
|
|
|
|
|
|
|
|
|
0.18 |
% |
Average Net Loss of
Assets Experiencing a Loss |
|
|
|
|
|
|
|
|
|
$ |
12,273.97 |
|
CREDIT ENHANCEMENT
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Reserve Account |
|
|
|
|
Reconciliation of Yield Supplement Account |
|
Beginning Reserve Account Balance |
|
$ |
5,398,149.38 |
|
|
Beginning Yield Supplement
Account Balance |
|
$ |
90,443,417.69 |
|
Investment Earnings |
|
$ |
19,495.42 |
|
|
Investment Earnings |
|
$ |
337,866.44 |
|
Excess Interest Deposited into the Reserve Account |
|
$ |
0.00 |
|
|
Additional Yield Supplement Amounts |
|
$ |
0.00 |
|
Investment Withdrawal to Seller |
|
$ |
(19,495.42 |
) |
|
Yield Supplement Withdrawal Amount |
|
$ |
6,445,744.21 |
|
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 |
|
$ |
5,398,149.38 |
|
|
Ending Yield Supplement Account Balance |
|
$ |
84,335,539.92 |
|
|
|
|
|
|
|
|
|
|
Reserve Account Required Amount |
|
$ |
5,398,149.38 |
|
|
|
|
|
|
SERVICER’S CERTIFICATE
AMERICAN HONDA FINANCE CORPORATION
|
|
|
|
|
|
|
|
|
MONTHLY SERVICER REPORT -- Honda Auto Receivables 2024-2 Owner Trust |
Collection Period: March 1, 2025 through March 31, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deal Age |
|
11 |
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)
|
|
|
|
|
|
|
|
|
Is there any activity to report? |
|
|
|
|
|
|
|
No |
|
|
|
|
|
|
|
|
|
STATEMENT TO NOTEHOLDERS
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
|
Have there been any material modifications, extensions or waivers to receivables terms, fees, penalties or payments during the collection period? |
|
No |
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
|
Has there been a material change in the underwriting, origination or acquisition of receivables? |
|
|
|
No |
|
|
|
|
|
|
|
|
|
SERVICER CERTIFICATION
|
|
|
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 |
|
|
