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 2023-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 Balance |
Ending Principal Factor |
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| A-1 | $305,000,000.00 | 8/15/24 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2a | $405,026,000.00 | 8/17/26 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-2b | $189,474,000.00 | 8/17/26 | $0.00 | 0.0000000 | $0.00 | $0.00 | $0.00 | $0.00 | 0.0000000 | |||||||||||||||||||||||||||
| A-3 | $527,500,000.00 | 4/17/28 | $513,814,702.57 | 0.9740563 | $0.00 | $18,910,216.11 | $13,600,053.41 | $481,304,433.05 | 0.9124255 | |||||||||||||||||||||||||||
| A-4 | $133,000,000.00 | 2/15/29 | $133,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $133,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
| B | $40,000,000.00 | 3/15/30 | $40,000,000.00 | 1.0000000 | $0.00 | $0.00 | $0.00 | $40,000,000.00 | 1.0000000 | |||||||||||||||||||||||||||
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| Total | $1,600,000,000.00 | $686,814,702.57 | $0.00 | $18,910,216.11 | $13,600,053.41 | $654,304,433.05 | 0.4089403 | |||||||||||||||||||||||||||||
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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 | 5.60400% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2a | 5.60000% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-2b | 4.70385% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||||||||||||||||
| A-3 | 5.16000% | $2,209,403.22 | $0.00 | $2,209,403.22 | $0.00 | $34,719,672.74 | ||||||||||||||||||||
| A-4 | 5.01000% | $555,275.00 | $0.00 | $555,275.00 | $0.00 | $555,275.00 | ||||||||||||||||||||
| B | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||||||||||||||
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| Total | $2,764,678.22 | $0.00 | $2,764,678.22 | $0.00 | $35,274,947.74 | |||||||||||||||||||||
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Credit Enhancement
| Reserve Account | Yield Supplement Overcollateralization Amount | |||||||||
| Initial Deposit Amount |
$4,000,015.71 | Beginning Period Amount |
$48,544,089.09 | |||||||
| Specified Reserve Account Amount |
$4,000,015.71 | Increase/(Decrease) |
$(3,506,928.03 | ) | ||||||
| Beginning Balance |
$4,000,015.71 | Ending Period Amount |
$45,037,161.06 | |||||||
| Withdrawals |
$0.00 | |||||||||
| Amount Available for Deposit |
$16,661,607.27 | Overcollateralization | ||||||||
| Amount Deposited to the Reserve Account |
$0.00 | |||||||||
| Reserve Account Balance Prior to Release |
$4,000,015.71 | Adjusted Pool Balance |
$667,904,486.46 | |||||||
| Reserve Account Required Amount |
$4,000,015.71 | Total Note Balance |
$654,304,433.05 | |||||||
| Reserve Account Release to Seller |
$0.00 | Ending Overcollateralization Amount |
$13,600,053.41 | |||||||
| Ending Reserve Account Balance |
$4,000,015.71 | Overcollateralization Target Amount |
$13,600,053.41 | |||||||
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 2023-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 |
24 | 732 | 709 | 676 | 652 | |||||||||||||||
| Gross Principal of Liquidated Receivables |
$540,159.40 | $19,494,641.56 | $18,954,482.16 | $18,189,698.53 | $17,570,686.37 | |||||||||||||||
| Principal of Repurchased Contracts, previously charged-off |
$(52,406.88 | ) | $(106,587.98 | ) | $(54,181.10 | ) | $(54,181.10 | ) | $(54,181.10 | ) | ||||||||||
| Net Liquidation Proceeds Received During the Collection Period |
$(75,823.58 | ) | $(1,987,990.47 | ) | $(1,912,166.89 | ) | $(1,848,651.92 | ) | $(1,749,108.31 | ) | ||||||||||
| Recoveries on Previously Liquidated Contracts |
$(346,078.11 | ) | $(8,480,845.00 | ) | $(8,134,766.89 | ) | $(7,728,862.23 | ) | $(7,309,693.35 | ) | ||||||||||
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| Net Credit Losses |
$65,850.83 | $8,919,218.11 | $8,853,367.28 | $8,558,003.28 | $8,457,703.61 | |||||||||||||||
| Charge-off Rate (Number of Liquidated Receivables / Initial number of accounts in the pool) |
1.11355% | 1.07856% | 1.02836% | 0.99185% | ||||||||||||||||
| Number of Accounts with Liquidation Proceeds or Recoveries |
700 | 676 | 643 | 618 | ||||||||||||||||
| Ratio of Aggregate Net Losses to Average Portfolio Balance |
0.74793% | 0.72965% | 0.69324% | 0.67347% | ||||||||||||||||
| Number of Assets Experiencing a Net Loss |
666 | 648 | 617 | 600 | ||||||||||||||||
| Net Credit Losses for Assets Experiencing a Loss |
$8,945,627.99 | $8,876,746.14 | $8,581,073.25 | $8,478,466.03 | ||||||||||||||||
| Average Net Loss on all assets that have Experienced a Net Loss |
$13,431.87 | $13,698.68 | $13,907.74 | $14,130.78 | ||||||||||||||||
| Cumulative Net Loss Ratio |
0.50061% | 0.49691% | 0.48033% | 0.47470% | ||||||||||||||||
| Repossessed in Current Period |
9 vehicles | |||||||||||||||||||
Pool Data
| Original | Prior Month | Current Month | ||||||||||||||
| Receivables Pool Balance |
$1,781,678,265.26 | $748,958,845.07 | $712,941,647.52 | |||||||||||||
| Number of Contracts |
65,736 | 44,249 | 43,306 | |||||||||||||
| Weighted Average APR |
4.64% | 4.78% | 4.80% | |||||||||||||
| Weighted Average Remaining Term (Months) |
55.40 | 34.57 | 33.70 | |||||||||||||
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 2023-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 |
$24,533,929.71 | |||
| Prepayments in Full |
$10,943,108.44 | |||
| Interest Payments Received |
$3,007,704.30 | |||
| Aggregate Net Liquidation Proceeds |
$421,901.69 | |||
| Interest on Repurchased Contracts |
$1,582.95 | |||
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| Total Collections |
$38,908,227.09 | |||
| Principal of Repurchased Contracts |
$0.00 | |||
| Principal of Repurchased Contracts, prev charged-off |
$52,406.88 | |||
| Adjustment on Repurchased Contracts |
$0.00 | |||
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| Total Repurchased Amount |
$52,406.88 | |||
| Total Available Collections |
$38,960,633.97 |
Distributions
| Calculated Amount |
Amount Paid |
Shortfall | ||||||||
| Servicing Fee |
$624,132.37 | $624,132.37 | $0.00 | |||||||
| Trustee and Other Fees/Expenses (capped at $300,000.00 per calendar year) |
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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 | |||||||
| Interest - Class A-1 Notes |
$0.00 | $0.00 | $0.00 | |||||||
| Interest - Class A-2a Notes |
$0.00 | $0.00 | $0.00 | |||||||
| Interest - Class A-2b Notes |
$0.00 | $0.00 | $0.00 | |||||||
| Interest - Class A-3 Notes |
$2,209,403.22 | $2,209,403.22 | $0.00 | |||||||
| Interest - Class A-4 Notes |
$555,275.00 | $555,275.00 | $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 |
$18,910,216.11 | $18,910,216.11 | $0.00 | |||||||
| Reserve Account Deposit |
$0.00 | $0.00 | $0.00 | |||||||
| Regular Principal Distribution Amount |
$13,600,053.41 | $13,600,053.41 | $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 |
$3,061,553.86 | $3,061,553.86 | 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 2023-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 |
$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 |
$2,209,403.22 | $4.19 | $32,510,269.52 | $61.63 | $34,719,672.74 | $65.82 | ||||||||||||||||||||||||||||
| Class A-4 Notes |
$555,275.00 | $4.18 | $0.00 | $0.00 | $555,275.00 | $4.18 | ||||||||||||||||||||||||||||
| 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 |
0.80% | 347 | 1.15% | $8,192,924.53 | ||||||||||||
| 60-89 Days Delinquent |
0.30% | 130 | 0.45% | $3,215,850.20 | ||||||||||||
| 90-119 Days Delinquent |
0.06% | 26 | 0.08% | $572,331.63 | ||||||||||||
| 120 or more Days Delinquent |
0.00% | 0 | 0.00% | $0.00 | ||||||||||||
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| Total Delinquencies |
1.16% | 503 | 1.68% | $11,981,106.36 | ||||||||||||
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| Total Delinquencies - Prior Period |
1.18% | 1.72% | ||||||||||||||
| Total Delinquencies - Two Months Prior |
1.08% | 1.54% | ||||||||||||||
| Total Delinquencies - Three Months Prior |
1.22% | 1.66% | ||||||||||||||
| Receivables Pool Balance |
$712,941,647.52 | |||||||||||||||
| 60-Day Delinquency Percentage |
0.53% | |||||||||||||||
| Delinquency Trigger Percentage |
4.65% | |||||||||||||||
| Has a Delinquency Trigger occurred in this Collection Period? No |
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| Repossessed Vehicle Inventory* |
13 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 2023-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