Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| | | | | |
| Collection Period | April 2025 |
| Payment Date | 5/15/2025 |
| Transaction Month | 14 | |
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 | $1,696,683,364.30 | | 46,551 | | 55.8 months |
| | | | | |
| Dollar Amount | | Note Interest Rate | | Final Scheduled Payment Date |
| Original Securities | | | | | |
| Class A-1 Notes | $ | 305,000,000.00 | | | 5.524 | % | | April 15, 2025 |
| Class A-2a Notes | $ | 150,000,000.00 | | | 5.32 | % | | January 15, 2027 |
| Class A-2b Notes | $ | 410,000,000.00 | | | 4.70471 | % | * | January 15, 2027 |
| Class A-3 Notes | $ | 560,000,000.00 | | | 5.09 | % | | December 15, 2028 |
| Class A-4 Notes | $ | 75,000,000.00 | | | 5.01 | % | | September 15, 2029 |
| Class B Notes | $ | 47,350,000.00 | | | 5.26 | % | | November 15, 2029 |
| Class C Notes | $ | 31,560,000.00 | | | 0.00 | % | | September 15, 2031 |
| Total | $ | 1,578,910,000.00 | | | | | |
| | | * 30-day average SOFR + 0.36% |
II. AVAILABLE FUNDS
| | | | | |
| Interest: | |
| Interest Collections | $ | 4,464,670.91 | |
| |
| Principal: | |
| Principal Collections | $ | 27,979,617.02 | |
| Prepayments in Full | $ | 12,898,150.77 | |
| Liquidation Proceeds | $ | 685,441.59 | |
| Recoveries | $ | 17,488.67 | |
| Sub Total | $ | 41,580,698.05 | |
| Collections | $ | 46,045,368.96 | |
| |
| Purchase Amounts: | |
| Purchase Amounts Related to Principal | $ | 311,677.05 | |
| Purchase Amounts Related to Interest | $ | 1,867.65 | |
| Sub Total | $ | 313,544.70 | |
| |
| Clean-up Call | $ | 0.00 | |
| |
| Reserve Account Draw Amount | $ | 0.00 | |
| |
| Available Funds - Total | $46,358,913.66 |
Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| | | | | |
| Collection Period | April 2025 |
| Payment Date | 5/15/2025 |
| Transaction Month | 14 | |
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 | | | $ | 46,358,913.66 | |
| Servicing Fee | $ | 904,834.31 | | | $ | 904,834.31 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 45,454,079.35 | |
| Interest - Class A-1 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 45,454,079.35 | |
| Interest - Class A-2a Notes | $ | 322,098.06 | | | $ | 322,098.06 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 45,131,981.29 | |
| Interest - Class A-2b Notes | $ | 778,577.66 | | | $ | 778,577.66 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 44,353,403.63 | |
| Interest - Class A-3 Notes | $ | 2,375,333.33 | | | $ | 2,375,333.33 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 41,978,070.30 | |
| Interest - Class A-4 Notes | $ | 313,125.00 | | | $ | 313,125.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 41,664,945.30 | |
| First Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 41,664,945.30 | |
| Interest - Class B Notes | $ | 207,550.83 | | | $ | 207,550.83 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 41,457,394.47 | |
| Second Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 41,457,394.47 | |
| Interest - Class C Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 41,457,394.47 | |
| Reserve Account Deposit | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 41,457,394.47 | |
| Regular Principal Payment | $ | 50,798,902.39 | | | $ | 41,457,394.47 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Residual Released to Depositor | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Total | | | $ | 46,358,913.66 | | | | | | | |
| | | | | | | | | |
| Principal Payment: | | | | | | | | | |
| First Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Second Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Regular Principal Payment | | | | | | | | | $ | 41,457,394.47 | |
| Total | | | | | | | | | $ | 41,457,394.47 | |
| | | | | | | | | |
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 | $ | 11,104,659.23 | | | $ | 74.03 | | | $ | 322,098.06 | | | $ | 2.15 | | | $ | 11,426,757.29 | | | $ | 76.18 | |
| Class A-2b Notes | $ | 30,352,735.24 | | | $ | 74.03 | | | $ | 778,577.66 | | | $ | 1.90 | | | $ | 31,131,312.90 | | | $ | 75.93 | |
| Class A-3 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 2,375,333.33 | | | $ | 4.24 | | | $ | 2,375,333.33 | | | $ | 4.24 | |
| Class A-4 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 313,125.00 | | | $ | 4.18 | | | $ | 313,125.00 | | | $ | 4.18 | |
| Class B Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 207,550.83 | | | $ | 4.38 | | | $ | 207,550.83 | | | $ | 4.38 | |
| Class C Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Total | $ | 41,457,394.47 | | | $ | 26.26 | | | $ | 3,996,684.88 | | | $ | 2.53 | | | $ | 45,454,079.35 | | | $ | 28.79 | |
| | | | | | | | | | | |
Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| | | | | |
| Collection Period | April 2025 |
| Payment Date | 5/15/2025 |
| Transaction Month | 14 | |
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 | $ | 72,653,698.60 | | | 0.4843580 | | $ | 61,549,039.37 | | | 0.4103269 |
| Class A-2b Notes | $ | 198,586,776.16 | | | 0.4843580 | | $ | 168,234,040.92 | | | 0.4103269 |
| Class A-3 Notes | $ | 560,000,000.00 | | | 1.0000000 | | $ | 560,000,000.00 | | | 1.0000000 |
| Class A-4 Notes | $ | 75,000,000.00 | | | 1.0000000 | | $ | 75,000,000.00 | | | 1.0000000 |
| Class B Notes | $ | 47,350,000.00 | | | 1.0000000 | | $ | 47,350,000.00 | | | 1.0000000 |
| Class C Notes | $ | 31,560,000.00 | | | 1.0000000 | | $ | 31,560,000.00 | | | 1.0000000 |
| Total | $ | 985,150,474.76 | | | 0.6239434 | | $ | 943,693,080.29 | | | 0.5976864 |
| | | | | | | | | | | |
| Pool Information | | | |
| Weighted Average APR | 4.958 | % | | 4.974 | % |
| Weighted Average Remaining Term | 45.88 | | 45.13 |
| Number of Receivables Outstanding | 35,957 | | 35,204 |
| Pool Balance | $ | 1,085,801,169.90 | | | $ | 1,043,561,071.36 | |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 1,016,753,908.48 | | | $ | 977,635,983.62 | |
| Pool Factor | 0.6399551 | | 0.6150594 |
| | | |
VI. OVERCOLLATERALIZATION INFORMATION
| | | | | |
| Specified Reserve Balance | $ | 3,947,285.02 | |
| Yield Supplement Overcollateralization Amount | $ | 65,925,087.74 | |
| Targeted Overcollateralization Amount | $ | 109,209,498.99 | |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 99,867,991.07 | |
| |
VII. RECONCILIATION OF RESERVE ACCOUNT
| | | | | |
| Beginning Reserve Account Balance | $ | 3,947,285.02 | |
| Reserve Account Deposits Made | $ | 0.00 | |
| Reserve Account Draw Amount | $ | 0.00 | |
| Ending Reserve Account Balance | $ | 3,947,285.02 | |
| Change in Reserve Account Balance | $ | 0.00 | |
| Specified Reserve Balance | $ | 3,947,285.02 | |
| |
Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| | | | | |
| Collection Period | April 2025 |
| Payment Date | 5/15/2025 |
| Transaction Month | 14 | |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| | | | | | | | | | | | | | | | | |
| | | # of Receivables | | Amount |
| Current Collection Period Loss: | | | | | |
| Realized Loss (Charge-Offs) | | | 80 | | $ | 365,212.11 | |
| (Recoveries) | | | 23 | | $ | 17,488.67 | |
| Net Loss for Current Collection Period | | | | | $ | 347,723.44 | |
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | | | | | 0.3843 | % |
| | | | | |
| Prior and Current Collection Periods Average Loss: | | | | | |
| | | | | |
| Ratio of Net Loss to the Average Pool Balance (annualized) | | | | | |
| Third Prior Collection Period | | | | | 0.4262 | % |
| Second Prior Collection Period | | 0.3878 | % |
| Prior Collection Period | | | | | 0.3927 | % |
| Current Collection Period | | | | | 0.3919 | % |
| Four Month Average (Current and Prior Three Collection Periods) | | | | | 0.3997 | % |
| | | | | |
| Cumulative Loss: | | | | | |
| Cumulative Realized Loss (Charge-Offs) | | | 1,052 | | $ | 4,494,525.59 | |
| (Cumulative Recoveries) | | | | | $ | 262,320.50 | |
| Cumulative Net Loss for All Collection Periods | | | | | $ | 4,232,205.09 | |
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | | | | 0.2494 | % |
| | | | | |
| Average Realized Loss for Receivables that have experienced a Realized Loss | | | | | $ | 4,272.36 | |
| Average Net Loss for Receivables that have experienced a Realized Loss | | | | | $ | 4,023.01 | |
| | | | | |
| % of EOP Pool Balance | | # of Receivables | | Amount |
| Delinquent Receivables: | | | | | |
| 31-60 Days Delinquent | 0.71 | % | | 199 | | $ | 7,415,611.16 | |
| 61-90 Days Delinquent | 0.12 | % | | 35 | | $ | 1,294,826.52 | |
| 91-120 Days Delinquent | 0.03 | % | | 8 | | $ | 342,708.45 | |
| Over 120 Days Delinquent | 0.05 | % | | 8 | | $ | 475,420.42 | |
| Total Delinquent Receivables | 0.91 | % | | 250 | | $ | 9,528,566.55 | |
|
| Repossession Inventory: | | | | | |
| Repossessed in the Current Collection Period | | | 16 | | $ | 696,028.49 | |
| Total Repossessed Inventory | | | 27 | | $ | 1,227,586.46 | |
| | | | | |
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | | |
| Second Prior Collection Period | | | | | 0.1280 | % |
| Prior Collection Period | | | | | 0.1140 | % |
| Current Collection Period | | | | | 0.1449 | % |
| Three Month Average | | | | | 0.1290 | % |
| | | | | |
| Delinquency Trigger (61+ Delinquent Receivables) | | | | | |
| Transaction Month | Trigger | | | | |
| 1-12 | 0.80% | | | | |
| 13-24 | 1.30% | | | | |
| 25-36 | 2.40% | | | | |
| 37+ | 4.75% | | | | |
| 61+ Delinquent Receivables Balance to EOP Pool Balance | | | | | 0.2025 | % |
| Delinquency Trigger Occurred | | | | | No |
Ford Credit Auto Owner Trust 2024-A
Monthly Investor Report
| | | | | |
| Collection Period | April 2025 |
| Payment Date | 5/15/2025 |
| Transaction Month | 14 | |
| | | | | | | | | | | | | | |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| | | | |
| 1 Month Extended | | | 87 | $3,423,798.90 |
| 2 Months Extended | | | 115 | $4,555,645.55 |
| 3+ Months Extended | | | 32 | $1,325,110.56 |
| | | | |
| Total Receivables Extended | 234 | $9,304,555.01 |
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