Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
| | | | | |
| Collection Period | June 2025 |
| Payment Date | 7/15/2025 |
| 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 | $ | 1,719,380,848.17 | | | 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 | | | 4.79385 | % | * | 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 | $ | 2,977,266.57 | |
| |
| Principal: | |
| Principal Collections | $ | 21,337,325.31 | |
| Prepayments in Full | $ | 11,056,635.30 | |
| Liquidation Proceeds | $ | 487,035.32 | |
| Recoveries | $ | 100,612.47 | |
| Sub Total | $ | 32,981,608.40 | |
| Collections | $ | 35,958,874.97 | |
| |
| Purchase Amounts: | |
| Purchase Amounts Related to Principal | $ | 298,316.69 | |
| Purchase Amounts Related to Interest | $ | 1,828.05 | |
| Sub Total | $ | 300,144.74 | |
| |
| Clean-up Call | $0.00 |
| |
| Reserve Account Draw Amount | $ | 0.00 | |
| |
| Available Funds - Total | $36,259,019.71 |
Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
| | | | | |
| Collection Period | June 2025 |
| Payment Date | 7/15/2025 |
| 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 | | | $ | 36,259,019.71 | |
| Servicing Fee | $ | 562,089.52 | | | $ | 562,089.52 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 35,696,930.19 | |
| Interest - Class A-1 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 35,696,930.19 | |
| Interest - Class A-2a Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 35,696,930.19 | |
| Interest - Class A-2b Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 35,696,930.19 | |
| Interest - Class A-3 Notes | $ | 1,917,099.71 | | | $ | 1,917,099.71 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,779,830.48 | |
| Interest - Class A-4 Notes | $ | 299,383.33 | | | $ | 299,383.33 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,480,447.15 | |
| First Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,480,447.15 | |
| Interest - Class B Notes | $ | 219,295.67 | | | $ | 219,295.67 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,261,151.48 | |
| Second Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,261,151.48 | |
| Interest - Class C Notes | $ | 150,410.92 | | | $ | 150,410.92 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,110,740.56 | |
| Reserve Account Deposit | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 33,110,740.56 | |
| Regular Principal Payment | $ | 30,793,535.54 | | | $ | 30,793,535.54 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 2,317,205.02 | |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 2,317,205.02 | |
| Residual Released to Depositor | $ | 0.00 | | | $ | 2,317,205.02 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Total | | | $ | 36,259,019.71 | | | | | | | |
| | | | | | | | | |
| Principal Payment: | | | | | | | | | |
| First Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Second Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Regular Principal Payment | | | | | | | | | $ | 30,793,535.54 | |
| Total | | | | | | | | | $ | 30,793,535.54 | |
| | | | | | | | | |
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 | $ | 30,793,535.54 | | | $ | 64.29 | | | $ | 1,917,099.71 | | | $ | 4.00 | | | $ | 32,710,635.25 | | | $ | 68.29 | |
| 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 | $ | 30,793,535.54 | | | $ | 19.50 | | | $ | 2,586,189.63 | | | $ | 1.64 | | | $ | 33,379,725.17 | | | $ | 21.14 | |
| | | | | | | | | | | |
Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
| | | | | |
| Collection Period | June 2025 |
| Payment Date | 7/15/2025 |
| 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 | $ | 439,869,914.04 | | | 0.9183088 | | $ | 409,076,378.50 | | | 0.8540217 |
| 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 | $ | 589,809,914.04 | | | 0.3735480 | | $ | 559,016,378.50 | | | 0.3540454 |
| | | | | | | | | | | |
| Pool Information | | | |
| Weighted Average APR | 5.286 | % | | 5.318 | % |
| Weighted Average Remaining Term | 38.52 | | 37.81 |
| Number of Receivables Outstanding | 27,959 | | 27,180 |
| Pool Balance | $ | 674,507,428.42 | | | $ | 640,606,662.36 | |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 627,559,088.41 | | | $ | 596,257,041.38 | |
| Pool Factor | 0.3922967 | | 0.3725799 |
| | | |
VI. OVERCOLLATERALIZATION INFORMATION
| | | | | |
| Specified Reserve Balance | $ | 3,947,366.14 | |
| Yield Supplement Overcollateralization Amount | $ | 44,349,620.98 | |
| Targeted Overcollateralization Amount | $ | 81,590,283.86 | |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 81,590,283.86 | |
| |
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 | June 2025 |
| Payment Date | 7/15/2025 |
| Transaction Month | 25 | |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| | | | | | | | | | | | | | | | | |
| | | # of Receivables | | Amount |
| Current Collection Period Loss: | | | | | |
| Realized Loss (Charge-Offs) | | | 93 | | $ | 721,453.44 | |
| (Recoveries) | | | 70 | | $ | 100,612.47 | |
| Net Loss for Current Collection Period | | | | | $ | 620,840.97 | |
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | | | | | 1.1045 | % |
| | | | | |
| Prior and Current Collection Periods Average Loss: | | | | | |
| | | | | |
| Ratio of Net Loss to the Average Pool Balance (annualized) | | | | | |
| Third Prior Collection Period | | | | | 0.5167 | % |
| Second Prior Collection Period | | 0.8526 | % |
| Prior Collection Period | | | | | 0.4657 | % |
| Current Collection Period | | | | | 1.1330 | % |
| Four Month Average (Current and Prior Three Collection Periods) | | | | | 0.7420 | % |
| | | | | |
| Cumulative Loss: | | | | | |
| Cumulative Realized Loss (Charge-Offs) | | | 2,017 | | $ | 12,671,304.81 | |
| (Cumulative Recoveries) | | | | | $ | 1,844,086.78 | |
| Cumulative Net Loss for All Collection Periods | | | | | $ | 10,827,218.03 | |
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | | | | 0.6297 | % |
| | | | | |
| Average Realized Loss for Receivables that have experienced a Realized Loss | | | | | $ | 6,282.25 | |
| Average Net Loss for Receivables that have experienced a Realized Loss | | | | | $ | 5,367.98 | |
| | | | | |
| % of EOP Pool Balance | | # of Receivables | | Amount |
| Delinquent Receivables: | | | | | |
| 31-60 Days Delinquent | 1.54 | % | | 286 | | $ | 9,890,152.59 | |
| 61-90 Days Delinquent | 0.34 | % | | 61 | | $ | 2,163,292.67 | |
| 91-120 Days Delinquent | 0.06 | % | | 9 | | $ | 390,104.83 | |
| Over 120 Days Delinquent | 0.14 | % | | 19 | | $ | 875,886.67 | |
| Total Delinquent Receivables | 2.08 | % | | 375 | | $ | 13,319,436.76 | |
|
| Repossession Inventory: | | | | | |
| Repossessed in the Current Collection Period | | | 23 | | $ | 696,620.70 | |
| Total Repossessed Inventory | | | 33 | | $ | 1,074,562.52 | |
| | | | | |
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | | |
| Second Prior Collection Period | | | | | 0.2191 | % |
| Prior Collection Period | | | | | 0.2396 | % |
| Current Collection Period | | | | | 0.3274 | % |
| Three Month Average | | | | | 0.2621 | % |
| | | | | |
| 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 | | | | | 0.5353 | % |
| Delinquency Trigger Occurred | | | | | No |
Ford Credit Auto Owner Trust 2023-B
Monthly Investor Report
| | | | | |
| Collection Period | June 2025 |
| Payment Date | 7/15/2025 |
| Transaction Month | 25 | |
| | | | | | | | | | | | | | |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| | | | |
| 1 Month Extended | | | 102 | $3,499,792.11 |
| 2 Months Extended | | | 145 | $5,204,782.05 |
| 3+ Months Extended | | | 26 | $905,423.13 |
| | | | |
| Total Receivables Extended | 273 | $9,609,997.29 |
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