Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
| | | | | |
| Collection Period | May 2025 |
| Payment Date | 6/16/2025 |
| Transaction Month | 24 | |
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 | $ | 1,719,380,848.17 | | | 49,034 | | | 56.5 months |
| | | | | |
| Dollar Amount | | Note Interest Rate | | Final Scheduled Payment Date |
| Original Securities | | | | | |
| Class A-1 Notes | $ | 350,000,000.00 | | | 5.517 | % | | July 15, 2024 |
| Class A-2a Notes | $ | 350,000,000.00 | | | 5.57 | % | | June 15, 2026 |
| Class A-2b Notes | $ | 250,000,000.00 | | | 4.82228 | % | * | June 15, 2026 |
| Class A-3 Notes | $ | 479,000,000.00 | | | 5.23 | % | | May 15, 2028 |
| Class A-4 Notes | $ | 71,000,000.00 | | | 5.06 | % | | February 15, 2029 |
| Class B Notes | $ | 47,330,000.00 | | | 5.56 | % | | March 15, 2029 |
| Class C Notes | $ | 31,610,000.00 | | | 5.71 | % | | December 15, 2030 |
| Total | $ | 1,578,940,000.00 | | | | | |
| | | * 30-day average SOFR + 0.49% |
II. AVAILABLE FUNDS
| | | | | |
| Interest: | |
| Interest Collections | $ | 3,037,489.39 | |
| |
| Principal: | |
| Principal Collections | $ | 22,104,087.25 | |
| Prepayments in Full | $ | 12,410,090.66 | |
| Liquidation Proceeds | $ | 302,447.68 | |
| Recoveries | $ | 92,539.22 | |
| Sub Total | $ | 34,909,164.81 | |
| Collections | $ | 37,946,654.20 | |
| |
| Purchase Amounts: | |
| Purchase Amounts Related to Principal | $ | 321,617.39 | |
| Purchase Amounts Related to Interest | $ | 2,286.77 | |
| Sub Total | $ | 323,904.16 | |
| |
| Clean-up Call | $0.00 |
| |
| Reserve Account Draw Amount | $ | 0.00 | |
| |
| Available Funds - Total | $38,270,558.36 |
Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
| | | | | |
| Collection Period | May 2025 |
| Payment Date | 6/16/2025 |
| Transaction Month | 24 | |
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 | | | $ | 38,270,558.36 | |
| Servicing Fee | $ | 591,672.40 | | | $ | 591,672.40 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 37,678,885.96 | |
| Interest - Class A-1 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 37,678,885.96 | |
| Interest - Class A-2a Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 37,678,885.96 | |
| Interest - Class A-2b Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 37,678,885.96 | |
| Interest - Class A-3 Notes | $ | 2,057,731.81 | | | $ | 2,057,731.81 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 35,621,154.15 | |
| Interest - Class A-4 Notes | $ | 299,383.33 | | | $ | 299,383.33 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 35,321,770.82 | |
| First Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 35,321,770.82 | |
| Interest - Class B Notes | $ | 219,295.67 | | | $ | 219,295.67 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 35,102,475.15 | |
| Second Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 35,102,475.15 | |
| Interest - Class C Notes | $ | 150,410.92 | | | $ | 150,410.92 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 34,952,064.23 | |
| Reserve Account Deposit | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 34,952,064.23 | |
| Regular Principal Payment | $ | 32,267,404.78 | | | $ | 32,267,404.78 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 2,684,659.45 | |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 2,684,659.45 | |
| Residual Released to Depositor | $ | 0.00 | | | $ | 2,684,659.45 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Total | | | $ | 38,270,558.36 | | | | | | | |
| | | | | | | | | |
| Principal Payment: | | | | | | | | | |
| First Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Second Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Regular Principal Payment | | | | | | | | | $ | 32,267,404.78 | |
| Total | | | | | | | | | $ | 32,267,404.78 | |
| | | | | | | | | |
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 | $ | 32,267,404.78 | | | $ | 67.36 | | | $ | 2,057,731.81 | | | $ | 4.30 | | | $ | 34,325,136.59 | | | $ | 71.66 | |
| Class A-4 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 299,383.33 | | | $ | 4.22 | | | $ | 299,383.33 | | | $ | 4.22 | |
| Class B Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 219,295.67 | | | $ | 4.63 | | | $ | 219,295.67 | | | $ | 4.63 | |
| Class C Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 150,410.92 | | | $ | 4.76 | | | $ | 150,410.92 | | | $ | 4.76 | |
| Total | $ | 32,267,404.78 | | | $ | 20.44 | | | $ | 2,726,821.73 | | | $ | 1.73 | | | $ | 34,994,226.51 | | | $ | 22.17 | |
| | | | | | | | | | | |
Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
| | | | | |
| Collection Period | May 2025 |
| Payment Date | 6/16/2025 |
| Transaction Month | 24 | |
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 | $ | 472,137,318.82 | | | 0.9856729 | | $ | 439,869,914.04 | | | 0.9183088 |
| Class A-4 Notes | $ | 71,000,000.00 | | | 1.0000000 | | $ | 71,000,000.00 | | | 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 | $ | 622,077,318.82 | | | 0.3939841 | | $ | 589,809,914.04 | | | 0.3735480 |
| | | | | | | | | | | |
| Pool Information | | | |
| Weighted Average APR | 5.250 | % | | 5.286 | % |
| Weighted Average Remaining Term | 39.23 | | 38.52 |
| Number of Receivables Outstanding | 28,756 | | 27,959 |
| Pool Balance | $ | 710,006,876.28 | | | $ | 674,507,428.42 | |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 660,358,984.90 | | | $ | 627,559,088.41 | |
| Pool Factor | 0.4129433 | | 0.3922967 |
| | | |
VI. OVERCOLLATERALIZATION INFORMATION
| | | | | |
| Specified Reserve Balance | $ | 3,947,366.14 | |
| Yield Supplement Overcollateralization Amount | $ | 46,948,340.01 | |
| Targeted Overcollateralization Amount | $ | 84,697,514.38 | |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 84,697,514.38 | |
| |
VII. RECONCILIATION OF RESERVE ACCOUNT
| | | | | |
| Beginning Reserve Account Balance | $ | 3,947,366.14 | |
| Reserve Account Deposits Made | $ | 0.00 | |
| Reserve Account Draw Amount | $ | 0.00 | |
| Ending Reserve Account Balance | $ | 3,947,366.14 | |
| Change in Reserve Account Balance | $ | 0.00 | |
| Specified Reserve Balance | $ | 3,947,366.14 | |
| |
Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
| | | | | |
| Collection Period | May 2025 |
| Payment Date | 6/16/2025 |
| Transaction Month | 24 | |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| | | | | | | | | | | | | | | | | |
| | | # of Receivables | | Amount |
| Current Collection Period Loss: | | | | | |
| Realized Loss (Charge-Offs) | | | 71 | | $ | 361,204.88 | |
| (Recoveries) | | | 80 | | $ | 92,539.22 | |
| Net Loss for Current Collection Period | | | | | $ | 268,665.66 | |
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | | | | | 0.4541 | % |
| | | | | |
| Prior and Current Collection Periods Average Loss: | | | | | |
| | | | | |
| Ratio of Net Loss to the Average Pool Balance (annualized) | | | | | |
| Third Prior Collection Period | | | | | 0.6758 | % |
| Second Prior Collection Period | | 0.5167 | % |
| Prior Collection Period | | | | | 0.8526 | % |
| Current Collection Period | | | | | 0.4657 | % |
| Four Month Average (Current and Prior Three Collection Periods) | | | | | 0.6277 | % |
| | | | | |
| Cumulative Loss: | | | | | |
| Cumulative Realized Loss (Charge-Offs) | | | 1,924 | | $ | 11,949,851.37 | |
| (Cumulative Recoveries) | | | | | $ | 1,743,474.31 | |
| Cumulative Net Loss for All Collection Periods | | | | | $ | 10,206,377.06 | |
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | | | | 0.5936 | % |
| | | | | |
| Average Realized Loss for Receivables that have experienced a Realized Loss | | | | | $ | 6,210.94 | |
| Average Net Loss for Receivables that have experienced a Realized Loss | | | | | $ | 5,304.77 | |
| | | | | |
| % of EOP Pool Balance | | # of Receivables | | Amount |
| Delinquent Receivables: | | | | | |
| 31-60 Days Delinquent | 1.45 | % | | 273 | | $ | 9,746,718.40 | |
| 61-90 Days Delinquent | 0.19 | % | | 37 | | $ | 1,290,911.37 | |
| 91-120 Days Delinquent | 0.09 | % | | 14 | | $ | 589,111.61 | |
| Over 120 Days Delinquent | 0.10 | % | | 16 | | $ | 680,522.24 | |
| Total Delinquent Receivables | 1.82 | % | | 340 | | $ | 12,307,263.62 | |
|
| Repossession Inventory: | | | | | |
| Repossessed in the Current Collection Period | | | 18 | | $ | 664,658.34 | |
| Total Repossessed Inventory | | | 26 | | $ | 914,104.36 | |
| | | | | |
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | | |
| Second Prior Collection Period | | | | | 0.1962 | % |
| Prior Collection Period | | | | | 0.2191 | % |
| Current Collection Period | | | | | 0.2396 | % |
| Three Month Average | | | | | 0.2183 | % |
| | | | | |
| 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 | | | | | 0.3796 | % |
| Delinquency Trigger Occurred | | | | | No |
Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
| | | | | |
| Collection Period | May 2025 |
| Payment Date | 6/16/2025 |
| Transaction Month | 24 | |
| | | | | | | | | | | | | | |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| | | | |
| 1 Month Extended | | | 86 | $2,856,644.81 |
| 2 Months Extended | | | 118 | $4,321,729.89 |
| 3+ Months Extended | | | 25 | $746,577.48 |
| | | | |
| Total Receivables Extended | 229 | $7,924,952.18 |
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