Exhibit 99.1
World Omni Auto Receivables Trust 2023-C | |||
Monthly Servicer Certificate | |||
August 31, 2025 |
Dates Covered | ||||||||||||
Collections Period | 08/01/25 - 08/31/25 | |||||||||||
Interest Accrual Period | 08/15/25 - 09/14/25 | |||||||||||
30/360 Days | 30 | |||||||||||
Actual/360 Days | 31 | |||||||||||
Distribution Date | 09/15/25 | |||||||||||
Collateral Pool Balance Data | $ Amount | # of Accounts | ||||||||||
Pool Balance at 07/31/25 | 395,636,115.84 | 22,023 | ||||||||||
Yield Supplement Overcollateralization Amount 07/31/25 | 28,441,174.05 | 0 | ||||||||||
Receivables Balance 07/31/25 | 424,077,289.89 | 22,023 | ||||||||||
Principal Payments | 19,909,610.12 | 526 | ||||||||||
Defaulted Receivables | 731,246.44 | 32 | ||||||||||
Repurchased Accounts | 0.00 | 0 | ||||||||||
Yield Supplement Overcollateralization Amount at 08/31/25 | 26,499,181.04 | 0 | ||||||||||
Pool Balance at 08/31/25 | 376,937,252.29 | 21,465 | ||||||||||
Pool Statistics | $ Amount | # of Accounts | ||||||||||
Pool Factor | 34.67 | % | ||||||||||
Prepayment ABS Speed | 1.42 | % | ||||||||||
Aggregate Starting Principal Balance | 1,163,498,581.79 | 43,008 | ||||||||||
Delinquent Receivables: | ||||||||||||
Past Due 31-60 days | 8,065,307.13 | 313 | ||||||||||
Past Due 61-90 days | 2,865,645.92 | 112 | ||||||||||
Past Due 91-120 days | 444,001.42 | 17 | ||||||||||
Past Due 121+ days | 0.00 | 0 | ||||||||||
Total | 11,374,954.47 | 442 | ||||||||||
Total 31+ Delinquent as % Aggregate Ending Principal Balance | 2.82 | % | ||||||||||
Total 61+ Delinquent as % Aggregate Ending Principal Balance | 0.82 | % | ||||||||||
Delinquency Trigger Occurred | NO | |||||||||||
Recoveries | 664,746.69 | |||||||||||
Aggregate Net Losses/(Gains) - August 2025 | 66,499.75 | |||||||||||
Ratio of Net Loss/(Gain) to the Receivables Balance as of beginning of Collection Period (Annualized): | ||||||||||||
Current Net Losses/(Gains) Ratio | 0.19 | % | ||||||||||
Prior Net Losses/(Gains) Ratio | 0.65 | % | ||||||||||
Second Prior Net Losses/(Gains) Ratio | 0.21 | % | ||||||||||
Third Prior Net Losses/(Gains) Ratio | 0.35 | % | ||||||||||
Four Month Average | 0.35 | % | ||||||||||
Cumulative Net Loss as a % of Aggregate Starting Principal Balance | 0.66 | % | ||||||||||
Overcollateralization Target Amount | 5,206,702.45 | |||||||||||
Actual Overcollateralization | 5,206,702.45 | |||||||||||
Weighted Average Contract Rate | 6.11 | % | ||||||||||
Weighted Average Contract Rate, Yield Adjusted | 10.74 | % | ||||||||||
Weighted Average Remaining Term | 39.02 | |||||||||||
Flow of Funds | $ Amount | |||||||||||
Collections | 22,713,428.98 | |||||||||||
Investment Earnings on Cash Accounts | 12,206.98 | |||||||||||
Servicing Fee | (353,397.74 | ) | ||||||||||
Transfer to Collection Account | - | |||||||||||
Available Funds | 22,372,238.22 | |||||||||||
Distributions of Available Funds | ||||||||||||
(1) Asset Representation Reviewer Amounts (up to $150,000 per year) | - | |||||||||||
(2) Class A Interest | 1,466,128.32 | |||||||||||
(3) Noteholders' First Priority Principal Distributable Amount | - | |||||||||||
(4) Class B Interest | 139,360.00 | |||||||||||
(5) Noteholders' Second Priority Principal Distributable Amount | - | |||||||||||
(6) Class C Interest | 71,859.58 | |||||||||||
(7) Noteholders' Third Priority Principal Distributable Amount | 13,492,161.10 | |||||||||||
(8) Required Reserve Account | - | |||||||||||
(9) Noteholders' Principal Distributable Amount | 5,206,702.45 | |||||||||||
(10) Asset Representation Reviewer Amounts (in excess of 1) | - | |||||||||||
(11) Distribution to Certificateholders | 1,996,026.77 | |||||||||||
Total Distributions of Available Funds | 22,372,238.22 | |||||||||||
Servicing Fee | 353,397.74 | |||||||||||
Unpaid Servicing Fee | - | |||||||||||
Change in amount of the unpaid servicing fee from the prior period | - |
Note Balances & Note Factors | $ Amount | |||||||||||
Original Class A | 991,900,000.00 | |||||||||||
Original Class B | 31,200,000.00 | |||||||||||
Original Class C | 15,650,000.00 | |||||||||||
Total Class A, B, & C | ||||||||||||
Note Balance @ 08/15/25 | 390,429,413.39 | |||||||||||
Principal Paid | 18,698,863.55 | |||||||||||
Note Balance @ 09/15/25 | 371,730,549.84 | |||||||||||
Class A-1 | ||||||||||||
Note Balance @ 08/15/25 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 0.00 | |||||||||||
Note Factor @ 09/15/25 | 0.0000000 | % | ||||||||||
Class A-2a | ||||||||||||
Note Balance @ 08/15/25 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 0.00 | |||||||||||
Note Factor @ 09/15/25 | 0.0000000 | % | ||||||||||
Class A-2b | ||||||||||||
Note Balance @ 08/15/25 | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 0.00 | |||||||||||
Note Factor @ 09/15/25 | 0.0000000 | % | ||||||||||
Class A-3 | ||||||||||||
Note Balance @ 08/15/25 | 259,579,413.39 | |||||||||||
Principal Paid | 18,698,863.55 | |||||||||||
Note Balance @ 09/15/25 | 240,880,549.84 | |||||||||||
Note Factor @ 09/15/25 | 76.1557224 | % | ||||||||||
Class A-4 | ||||||||||||
Note Balance @ 08/15/25 | 84,000,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 84,000,000.00 | |||||||||||
Note Factor @ 09/15/25 | 100.0000000 | % | ||||||||||
Class B | ||||||||||||
Note Balance @ 08/15/25 | 31,200,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 31,200,000.00 | |||||||||||
Note Factor @ 09/15/25 | 100.0000000 | % | ||||||||||
Class C | ||||||||||||
Note Balance @ 08/15/25 | 15,650,000.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Note Balance @ 09/15/25 | 15,650,000.00 | |||||||||||
Note Factor @ 09/15/25 | 100.0000000 | % | ||||||||||
Interest & Principal Payments | $ Amount | |||||||||||
Total Interest Paid | 1,677,347.90 | |||||||||||
Total Principal Paid | 18,698,863.55 | |||||||||||
Total Paid | 20,376,211.45 | |||||||||||
Class A-1 | ||||||||||||
Coupon | 5.60700 | % | ||||||||||
Interest Paid | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-1 Holders | 0.00 | |||||||||||
Class A-2a | ||||||||||||
Coupon | 5.57000 | % | ||||||||||
Interest Paid | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-2a Holders | 0.00 | |||||||||||
Class A-2b | ||||||||||||
SOFR Rate | 4.34270 | % | ||||||||||
Coupon | 4.75270 | % | ||||||||||
Interest Paid | 0.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-2b Holders | 0.00 | |||||||||||
Class A-3 | ||||||||||||
Coupon | 5.15000 | % | ||||||||||
Interest Paid | 1,114,028.32 | |||||||||||
Principal Paid | 18,698,863.55 | |||||||||||
Total Paid to A-3 Holders | 19,812,891.87 | |||||||||||
Class A-4 | ||||||||||||
Coupon | 5.03000 | % | ||||||||||
Interest Paid | 352,100.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to A-4 Holders | 352,100.00 | |||||||||||
Class B | ||||||||||||
Coupon | 5.36000 | % | ||||||||||
Interest Paid | 139,360.00 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to B Holders | 139,360.00 | |||||||||||
Class C | ||||||||||||
Coupon | 5.51000 | % | ||||||||||
Interest Paid | 71,859.58 | |||||||||||
Principal Paid | 0.00 | |||||||||||
Total Paid to C Holders | 71,859.58 |
Distribution per $1,000 of Notes | Total | |||||||||||
Total Interest Distribution Amount | 1.6147754 | |||||||||||
Total Interest Carryover Shortfall | 0.0000000 | |||||||||||
Total Principal Distribution Amount | 18.0013127 | |||||||||||
Total Distribution Amount | 19.6160881 | |||||||||||
A-1 Interest Distribution Amount | 0.0000000 | |||||||||||
A-1 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-1 Principal Distribution Amount | 0.0000000 | |||||||||||
Total A-1 Distribution Amount | 0.0000000 | |||||||||||
A-2a Interest Distribution Amount | 0.0000000 | |||||||||||
A-2a Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-2a Principal Distribution Amount | 0.0000000 | |||||||||||
Total A-2a Distribution Amount | 0.0000000 | |||||||||||
A-2b Interest Distribution Amount | 0.0000000 | |||||||||||
A-2b Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-2b Principal Distribution Amount | 0.0000000 | |||||||||||
Total A-2b Distribution Amount | 0.0000000 | |||||||||||
A-3 Interest Distribution Amount | 3.5220623 | |||||||||||
A-3 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-3 Principal Distribution Amount | 59.1174946 | |||||||||||
Total A-3 Distribution Amount | 62.6395569 | |||||||||||
A-4 Interest Distribution Amount | 4.1916667 | |||||||||||
A-4 Interest Carryover Shortfall | 0.0000000 | |||||||||||
A-4 Principal Distribution Amount | 0.0000000 | |||||||||||
Total A-4 Distribution Amount | 4.1916667 | |||||||||||
B Interest Distribution Amount | 4.4666667 | |||||||||||
B Interest Carryover Shortfall | 0.0000000 | |||||||||||
B Principal Distribution Amount | 0.0000000 | |||||||||||
Total B Distribution Amount | 4.4666667 | |||||||||||
C Interest Distribution Amount | 4.5916665 | |||||||||||
C Interest Carryover Shortfall | 0.0000000 | |||||||||||
C Principal Distribution Amount | 0.0000000 | |||||||||||
Total C Distribution Amount | 4.5916665 | |||||||||||
Noteholders' First Priority Principal Distributable Amount | 0.00 | |||||||||||
Noteholders' Second Priority Principal Distributable Amount | 0.00 | |||||||||||
Noteholders' Third Priority Principal Distributable Amount | 721.55 | |||||||||||
Noteholders' Principal Distributable Amount | 278.45 | |||||||||||
Account Balances | $ Amount | |||||||||||
Reserve Account | ||||||||||||
Balance as of 08/15/25 | 2,603,351.22 | |||||||||||
Investment Earnings | 9,391.71 | |||||||||||
Investment Earnings Paid | (9,391.71 | ) | ||||||||||
Deposit/(Withdrawal) | - | |||||||||||
Balance as of 09/15/25 | 2,603,351.22 | |||||||||||
Change | - | |||||||||||
Required Reserve Amount | 2,603,351.22 | |||||||||||
Other Servicing Information | Current Month | Prior Month | Two Months Prior | |||||||||
Principal Balance of Receivables extended during the Collection Period | $ | 2,404,688.16 | 2,709,989.13 | 3,066,089.85 | ||||||||
Number of Extensions | 92 | 106 | 122 | |||||||||
Ratio of extensions to Beginning of Period Receivables Balance | 0.57 | % | 0.61 | % | 0.65 | % |