Exhibit 99.1
Servicer’s Certificate
for the Collection Period June 01, 2025 through June 30, 2025
for Payment Date of July 15, 2025
Toyota Auto Receivables 2024-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
30 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
29 | Actual/360 Days |
29 |
| Class | Initial Principal Balance |
Final Scheduled Payment Date |
Beginning Principal Balance |
Beginning Principal Factor |
First Priority Principal Distribution Amount |
Second Priority Principal Distribution Amount |
Regular Principal Distribution Amount |
Ending Principal |
Ending Principal Factor |
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| A-1 | $383,000,000.00 | 8/15/25 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2a | $358,000,000.00 | 5/17/27 | $207,719,349.86 | 0.5802216 | $0.00 | $17,829,673.96 | $8,644,886.37 | $181,244,789.53 | 0.5062704 | |||||||||||||||||||||||||||
| A-2b | $258,000,000.00 | 5/17/27 | $149,697,185.11 | 0.5802216 | $0.00 | $12,849,318.10 | $6,230,113.65 | $130,617,753.36 | 0.5062704 | |||||||||||||||||||||||||||
| A-3 | $616,000,000.00 | 3/15/29 | $616,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $616,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| A-4 | $91,250,000.00 | 11/15/29 | $91,250,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $91,250,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| B | $43,750,000.00 | 2/18/31 | $43,750,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $43,750,000.00 | 1.0000000 | |||||||||||||||||||||||||||
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| Total | $1,750,000,000.00 | $1,108,416,534.97 | $0.00 | $30,678,992.06 | $14,875,000.02 | $1,062,862,542.89 | 0.6073500 | |||||||||||||||||||||||||||||
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| Class | Interest Rate | Interest Distributable Amount |
Prior Interest Carryover |
Interest Distribution Amount |
Current Interest Carryover |
Total Principal & Interest Distribution |
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| A-1 | 5.47100% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2a | 5.16000% | $893,193.20 | $0.00 | $893,193.20 | $0.00 | $27,367,753.53 | ||||||||||||||||||||
| A-2b | 4.67385% | $563,616.76 | $0.00 | $563,616.76 | $0.00 | $19,643,048.51 | ||||||||||||||||||||
| A-3 | 4.88000% | $2,505,066.67 | $0.00 | $2,505,066.67 | $0.00 | $2,505,066.67 | ||||||||||||||||||||
| A-4 | 4.83000% | $367,281.25 | $0.00 | $367,281.25 | $0.00 | $367,281.25 | ||||||||||||||||||||
| B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||
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| Total | $4,329,157.88 | $0.00 | $4,329,157.88 | $0.00 | $49,883,149.96 | |||||||||||||||||||||
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Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
| Initial Deposit Amount |
$4,375,000.00 | Beginning Period Amount |
$58,601,149.07 | |||||||
| Specified Reserve Account Amount |
$4,375,000.00 | Increase/(Decrease) |
$(3,615,940.83 | ) | ||||||
| Beginning Balance |
$4,375,000.00 | Ending Period Amount |
$54,985,208.24 | |||||||
| Withdrawals |
$0.00 | |||||||||
| Amount Available for Deposit |
$18,626,889.83 | Overcollateralization | ||||||||
| Amount Deposited to the Reserve Account |
$0.00 | |||||||||
| Reserve Account Balance Prior to Release |
$4,375,000.00 | Adjusted Pool Balance |
$1,077,737,542.91 | |||||||
| Reserve Account Required Amount |
$4,375,000.00 | Total Note Balance |
$1,062,862,542.89 | |||||||
| Reserve Account Release to Seller |
$0.00 | Ending Overcollateralization Amount |
$14,875,000.02 | |||||||
| Ending Reserve Account Balance |
$4,375,000.00 | Overcollateralization Target Amount |
$14,875,000.02 | |||||||
Page 1 of 5
Servicer’s Certificate
for the Collection Period June 01, 2025 through June 30, 2025
for Payment Date of July 15, 2025
Toyota Auto Receivables 2024-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
30 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
29 | Actual/360 Days |
29 |
Liquidations of Charge-offs and Repossessions
| Cumulative | ||||||||||||||||||||
| Current Period Only | Current Period | Prior Period | Two Periods Prior | Three Periods Prior | ||||||||||||||||
| Number of Liquidated Receivables |
45 | 329 | 284 | 248 | 209 | |||||||||||||||
| Gross Principal of Liquidated Receivables |
$1,249,316.17 | $9,707,698.93 | $8,458,382.76 | $7,325,431.29 | $6,391,061.86 | |||||||||||||||
| Principal of Repurchased Contracts, previously charged-off |
$0.00 | $(14,377.79 | ) | $(14,377.79 | ) | $(14,377.79 | ) | $(14,377.79 | ) | |||||||||||
| Net Liquidation Proceeds Received During the Collection Period |
$(303,224.40 | ) | $(1,885,250.77 | ) | $(1,582,026.37 | ) | $(1,401,197.61 | ) | $(1,120,505.86 | ) | ||||||||||
| Recoveries on Previously Liquidated Contracts |
$(362,962.63 | ) | $(2,781,836.58 | ) | $(2,418,873.95 | ) | $(2,063,698.30 | ) | $(1,783,173.96 | ) | ||||||||||
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| Net Credit Losses |
$583,129.14 | $5,026,233.79 | $4,443,104.65 | $3,846,157.59 | $3,473,004.25 | |||||||||||||||
| Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
0.47785% | 0.41249% | 0.36020% | 0.30356% | ||||||||||||||||
| Number of Accounts with Liquidation Proceeds or Recoveries |
305 | 258 | 229 | 190 | ||||||||||||||||
| Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.34361% | 0.29814% | 0.25332% | 0.22454% | ||||||||||||||||
| Number of Assets Experiencing a Net Loss |
306 | 266 | 235 | 199 | ||||||||||||||||
| Net Credit Losses for Assets Experiencing a Loss |
$5,033,513.18 | $4,449,139.41 | $3,849,526.66 | $3,474,736.31 | ||||||||||||||||
| Average Net Loss on all assets that have Experienced a Net Loss |
$16,449.39 | $16,726.09 | $16,380.96 | $17,460.99 | ||||||||||||||||
| Cumulative Net Loss Ratio |
0.26953% | 0.23826% | 0.20625% | 0.18624% | ||||||||||||||||
| Repossessed in Current Period |
18 vehicles | |||||||||||||||||||
Pool Data
| Original | Prior Month | Current Month | ||||||||||||||
| Receivables Pool Balance |
$1,864,834,545.38 | $1,181,892,684.06 | $1,132,722,751.15 | |||||||||||||
| Number of Contracts |
68,850 | 53,621 | 52,439 | |||||||||||||
| Weighted Average APR |
6.04% | 6.08% | 6.09% | |||||||||||||
| Weighted Average Remaining Term (Months) |
54.17 | 43.38 | 42.47 | |||||||||||||
Page 2 of 5
Servicer’s Certificate
for the Collection Period June 01, 2025 through June 30, 2025
for Payment Date of July 15, 2025
Toyota Auto Receivables 2024-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
30 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
29 | Actual/360 Days |
29 |
Collections
| Principal Payments Received |
$30,757,365.98 | |||
| Prepayments in Full |
$17,097,271.02 | |||
| Interest Payments Received |
$6,046,343.17 | |||
| Aggregate Net Liquidation Proceeds |
$666,187.03 | |||
| Interest on Repurchased Contracts |
$403.40 | |||
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| Total Collections |
$54,567,570.60 | |||
| Principal of Repurchased Contracts |
$65,979.74 | |||
| Principal of Repurchased Contracts, prev charged-off |
$0.00 | |||
| Adjustment on Repurchased Contracts |
$0.00 | |||
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| Total Repurchased Amount |
$65,979.74 | |||
| Total Available Collections |
$54,633,550.34 |
Distributions
| Calculated Amount |
Amount Paid |
Shortfall | ||||||||
| Servicing Fee |
$984,910.57 | $984,910.57 | $0.00 | |||||||
| Trustee and Other Fees/Expenses (capped at $300,000.00 per calendar year) |
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| Indenture Trustee |
$5,000.00 |
$5,000.00 |
$0.00 | |||||||
| Owner Trustee |
$3,600.00 |
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$3,600.00 |
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$0.00 | |||||
| Asset Representations Reviewer |
$5,000.00 |
$5,000.00 |
$0.00 | |||||||
| Interest - Class A-1 Notes |
$0.00 | $0.00 | $0.00 | |||||||
| Interest - Class A-2a Notes |
$893,193.20 | $893,193.20 | $0.00 | |||||||
| Interest - Class A-2b Notes |
$563,616.76 | $563,616.76 | $0.00 | |||||||
| Interest - Class A-3 Notes |
$2,505,066.67 | $2,505,066.67 | $0.00 | |||||||
| Interest - Class A-4 Notes |
$367,281.25 | $367,281.25 | $0.00 | |||||||
| First Priority Principal Distribution Amount |
$0.00 | $0.00 | $0.00 | |||||||
| Interest - Class B Notes |
$0.00 | $0.00 | $0.00 | |||||||
| Second Priority Principal Distribution Amount |
$30,678,992.06 | $30,678,992.06 | $0.00 | |||||||
| Reserve Account Deposit |
$0.00 | $0.00 | $0.00 | |||||||
| Regular Principal Distribution Amount |
$14,875,000.02 | $14,875,000.02 | $0.00 | |||||||
| Additional Trustee and Other Fees/Expenses |
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| Indenture Trustee |
$0.00 |
$0.00 |
$0.00 | |||||||
| Owner Trustee |
$0.00 |
$0.00 |
$0.00 | |||||||
| Asset Representations Reviewer |
$0.00 |
$0.00 |
$0.00 | |||||||
| Excess Amounts to the Certificateholder |
$3,751,889.81 | $3,751,889.81 | N/A | |||||||
Page 3 of 5
Servicer’s Certificate
for the Collection Period June 01, 2025 through June 30, 2025
for Payment Date of July 15, 2025
Toyota Auto Receivables 2024-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
30 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
29 | Actual/360 Days |
29 |
Noteholder Distributions
| Interest Distributed |
Per $1000 of Original Balance |
Principal Distributed |
Per $1000 of Original Balance |
Amount Distributed |
Per $1000 of Original Balance |
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| Class A-1 Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||||||||||
| Class A-2a Notes |
$893,193.20 | $2.49 | $26,474,560.33 | $73.95 | $27,367,753.53 | $76.44 | ||||||||||||||||||||||||||||
| Class A-2b Notes |
$563,616.76 | $2.18 | $19,079,431.75 | $73.95 | $19,643,048.51 | $76.13 | ||||||||||||||||||||||||||||
| Class A-3 Notes |
$2,505,066.67 | $4.07 | $0.00 | $0.00 | $2,505,066.67 | $4.07 | ||||||||||||||||||||||||||||
| Class A-4 Notes |
$367,281.25 | $4.03 | $0.00 | $0.00 | $367,281.25 | $4.03 | ||||||||||||||||||||||||||||
| Class B Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||||||||||
Delinquent and Repossessed Contracts
| Percentage of Current Month Number of Contracts |
Units | Percentage of Current Month Receivables Pool Balance |
Balance | |||||||||||||
| 30-59 Days Delinquent |
0.67% | 351 | 0.88% | $9,957,782.98 | ||||||||||||
| 60-89 Days Delinquent |
0.19% | 99 | 0.25% | $2,874,109.72 | ||||||||||||
| 90-119 Days Delinquent |
0.06% | 32 | 0.09% | $1,020,795.64 | ||||||||||||
| 120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
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| Total Delinquencies |
0.92% | 482 | 1.22% | $13,852,688.34 | ||||||||||||
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| Total Delinquencies - Prior Period |
0.90% | 1.12% | ||||||||||||||
| Total Delinquencies - Two Months Prior |
0.86% | 1.09% | ||||||||||||||
| Total Delinquencies - Three Months Prior |
0.92% | 1.14% | ||||||||||||||
| Receivables Pool Balance |
$1,132,722,751.15 | |||||||||||||||
| 60-Day Delinquency Percentage |
0.34% | |||||||||||||||
| Delinquency Trigger Percentage |
4.95% | |||||||||||||||
| Has a Delinquency Trigger occurred in this Collection Period? No |
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| Repossessed Vehicle Inventory* |
23 vehicles | |||||||
| * Included with Delinquencies Above |
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Page 4 of 5
Servicer’s Certificate
for the Collection Period June 01, 2025 through June 30, 2025
for Payment Date of July 15, 2025
Toyota Auto Receivables 2024-C Owner Trust
Toyota Auto Finance Receivables, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
I hereby certify to the best of my knowledge that the report provided is true and correct.
| /s/ Stephen Bishop | ||
| Name: | Stephen Bishop | |
| Title: | General Manager - Treasury | |
Page 5 of 5