Exhibit 99.1

 

Volkswagen Auto Loan Enhanced Trust 2023-2
MONTHLY SERVICER CERTIFICATE  
For the collection period ended 9-30-2025 PAGE 1

 

A. DATES  Begin  End  # days
1  Determination Date     10/16/2025    
2  Payment Date     10/20/2025    
3  Collection Period  8/30/2025  9/30/2025  32 
4  Monthly Interest Period - Actual/360  9/22/2025  10/19/2025  28 
5  Monthly Interest - 30/360        30 
6  SOFR Adjustment Date     9/18/2025    

 

B.  SUMMARY

       Initial Balance   Beginning Balance   Principal Payment   Ending Balance   Note Factor 
7  Class A-1 Notes    245,000,000.00    -    -    -    - 
8  Class A-2-A Notes    310,000,000.00    25,875,553.01    15,906,170.80    9,969,382.21    0.0321593 
9  Class A-2-B Notes    225,000,000.00    18,780,643.31    11,544,801.38    7,235,841.93    0.0321593 
10  Class A-3 Notes    420,000,000.00    420,000,000.00    -    420,000,000.00    1.0000000 
11  Class A-4 Notes    50,000,000.00    50,000,000.00    -    50,000,000.00    1.0000000 
12  Total Securities   $1,250,000,000.00   $514,656,196.32   $27,450,972.18   $487,205,224.14      
                              
13  Overcollateralization    38,666,430.42    38,666,430.42         38,666,430.42      
14  Adjusted Pool Balance   $1,288,666,430.42   $553,322,626.74   $27,450,972.18   $525,871,654.56      
15  YSOC    130,170,231.38    51,638,352.22         49,008,993.84      
16  Net Pool Balance   $1,418,836,661.80   $604,960,978.96   $27,450,972.18   $574,880,648.40      

 

                  Per $1000   Principal& Interest   Per $1000 
       Coupon Rate    SOFR Rate    Interest Pmt Due    Face Amount    Payment Due    Face Amount 
17  Class A-1 Notes   5.60100%   N/A    -    -    -    - 
18  Class A-2-A Notes   5.72000%   N/A    123,340.14    0.3978714    16,029,510.94    51.7080998 
19  Class A-2-B Notes   5.01881%   4.38881%   73,310.60    0.3258249    11,618,111.98    51.6360532 
20  Class A-3 Notes   5.48000%   N/A    1,918,000.00    4.5666667    1,918,000.00    4.5666667 
21  Class A-4 Notes   5.57000%   N/A    232,083.33    4.6416666    232,083.33    4.6416666 
22  Total Securities             2,346,734.07         29,797,706.25      

 

C.  COLLECTIONS AND AVAILABLE FUNDS   
23  Scheduled Principal Payments Received    16,405,219.10 
24  Scheduled Interest Payments Received    3,008,849.52 
25  Prepayments of Principal Received    11,864,959.47 
26  Liquidation Proceeds    307,615.20 
27  Recoveries Received    715,680.49 
28  Other Payments Received to Reduce Principal      
29  Subtotal: Total Collections    32,302,323.78 
30  Repurchased Receivables    - 
31  Reserve Account Excess Amount (Item 94)    10,913.72 
32  Total Available Funds, prior to Servicer Advances    32,313,237.50 
33  Servicer Advance (Item 77)    - 
34  Total Available Funds + Servicer Advance    32,313,237.50 
35  Reserve Account Draw Amount (Item 80)    - 
36  Total Available Funds + Servicer Advance and Reserve Account Draw Amount    32,313,237.50 

 

D. DISTRIBUTIONS  

  Distribution Summary:   
37  Prior Advance Reimbursement (Item 83)    - 
38  Servicing Fees (Item 45)    504,134.15 
39  Class A Noteholder Interest (Item 56)    2,346,734.07 
40  Principal Distribution Amount (Item 81)    27,450,972.18 
41  Amount Paid to Reserve Account to Reach Specified Balance    - 
42  Other Amounts Paid to Trustees    - 
43  Certificateholders Principal Distribution Amount    - 
44  Remaining Funds to Seller    2,011,397.10 

 

 

 

 

PAGE 2

 

   Distribution Detail:  Due   Shortfall   Paid 
45  Servicing Fees   504,134.15    -    504,134.15 
                   
   Pro rata:               
46  Class A-1 Interest   -    -    - 
47  Class A-2-A Interest   123,340.14    -    123,340.14 
48  Class A-2-B Interest   73,310.60         73,310.60 
49  Class A-3 Interest   1,918,000.00    -    1,918,000.00 
50  Class A-4 Interest   232,083.33    -    232,083.33 
51  Class A-1 Interest Carryover Shortfall   -    -    - 
52  Class A-2-A Interest Carryover Shortfall   -    -    - 
53  Class A-2-B Interest Carryover Shortfall               
54  Class A-3 Interest Carryover Shortfall   -    -    - 
55  Class A-4 Interest Carryover Shortfall   -    -    - 
56   Class A Noteholder Interest   2,346,734.07    -    2,346,734.07 

 

E.   CALCULATIONS

   Calculation of Principal Distribution Amount:          
57  Beginning Adjusted Pool Balance         553,322,626.74  
58  Beginning Net Pool Balance   604,960,978.96         
59  Receipts of Scheduled Principal   (16,405,219.10)        
60  Receipts of Prepaid Principal   (11,864,959.47)        
61  Liquidation Proceeds   (307,615.20)        
62  Other Collections of Principal   -         
63  Principal Amount of Repurchases   -         
64  Principal Amount of Defaulted Receivables   (1,502,536.79)        
65  Ending Net Pool Balance   574,880,648.40         
66  Yield Supplement Overcollateralization Amount   49,008,993.84         
67  Adjusted Pool Balance   525,871,654.56         
68  Less: Adjusted Pool Balance - End of Collection Period         525,871,654.56  
69  Calculated Principal Distribution Amount         27,450,972.18  
                
   Calculation of Servicer Advance:             
70  Available Funds, prior to Servicer Advances (Item 32)         32,313,237.50  
71  Less: Prior Advance Reimbursement (Item 37)          -  
72  Less: Servicing Fees Paid (Item 38)         504,134.15  
73  Less: Interest Paid to Noteholders (Item 39)         2,346,734.07  
74  Less: Calculated Principal Distribution (Item 69)         27,450,972.18  
75  Equals: Remaining Available Funds before Servicer Advance         2,011,397.10  
76  Monthly Loan Payments Due on Included Units but not received (N/A if Item 75 > 0)          N/A  
77  Servicer Advance (If Item 75 < 0, lesser of Item 75 and Item 76, else 0)          -  
                 
   Calculation of Reserve Account Draw Amount:             
78  Remaining Available Funds, before Reserve Account Draw (Item 75 plus Item 77)         2,011,397.10  
79  Available Funds Shortfall Amount (If Item 78 < 0, Item 78, else 0)          -  
80  Reserve Account Draw Amount (If Item 79 is > 0, Lesser of Reserve Acct Balance and Item 79)          -  
                 
81  Principal Distribution Amount (Item 69 - Available Funds Shortfall + Reserve Account Draw Amt)         27,450,972.18  
                
   Reconciliation of Servicer Advance:             
82  Beginning Balance of Servicer Advance          -  
83  Less: Prior Advance Reimbursement          -  
84  Plus: Additional Servicer Advances for Current Period          -  
85  Ending Balance of Servicer Advance          -  

 

F.  RESERVE ACCOUNT    
   Reserve Account Balances:     
86  Specified Reserve Account Balance (Lesser of (a) $3,221,666.08, and (b) the aggregate note balance)   3,221,666.08 
87  Initial Reserve Account Balance   3,221,666.08 
88  Beginning Reserve Account Balance   3,221,666.08 
89  Plus:  Net Investment Income for the Collection Period   10,913.72 
90  Subtotal:  Reserve Fund Available for Distribution   3,232,579.80 
91  Plus:  Deposit of Excess Available Funds (Item 41)   - 
92  Less:  Reserve Account Draw Amount (Item 80)   - 
93  Subtotal Reserve Account Balance   3,232,579.80 
94  Less: Reserve Account Excess Amount to Available Funds (If Item 93 > Item 86)   10,913.72 
95  Equals: Ending Reserve Account Balance   3,221,666.08 
         
96  Change in Reserve Account Balance from Immediately Preceding Payment Date   - 

 

 

 

 

PAGE 3

 

G.  POOL STATISTICS            
   Collateral Pool Balance Data:   Initial    Prior    Current Period 
97  Net Pool Balance   1,418,836,662    604,960,979    574,880,648 
98  Number of Current Contracts   45,971    27,693    27,041 
99  Weighted Average Loan Rate   5.69%   5.78%   5.79%
100  Average Remaining Term   57.8    37.5    36.5 
101  Average Original Term   67.4    68.6    68.6 
102  Monthly Prepayment Rate             1.32%

 

            Outstanding 
   Net Credit Loss and Repossession Activity:   Units    Principal Balance 
103  Aggregate Outstanding Principal Balance of Charged Off Receivables   61    1,810,151.99 
104  Liquidation Proceeds on Related Vehicles        307,615.20 
105  Recoveries Received on Receivables Previously Charged Off        715,680.49 
106  Net Principal Losses for Current Collection Period   61    786,856.30 
              
107  Beginning Net Principal Losses   1,287    20,708,329.97 
108  Net Principal Losses for Current Collection Period   61    786,856.30 
109  Cumulative Net Principal Losses   1,348    21,495,186.27 
110  Cumulative Net Loss Ratio (Cumulative Net Principal Losses divided by $1,418,836,661.80)        1.51%

 

              Outstanding 
   Delinquencies Aging Profile - End of Period:  Percentage   Units   Principal Balance 
111  Current   98.06%   26,651    563,740,296.22 
112  31 - 60 Days Delinquent   1.53%   310    8,774,206.65 
113  61 - 90 Days Delinquent   0.41%   80    2,366,145.53 
114  91-120 Days Delinquent1   0.00%   -    - 
115  Total   100.00%   27,041    574,880,648.40 

  

H.  DELINQUENCY AND NET LOSS RATIOS    
116  Ratio of Net Principal Losses to the Pool balance as of Each Collection Period   Percentage 
117  Current Period   0.13%
118  Prior Period   0.13%
119  Two Periods Prior   0.16%
120  Three Periods Prior   0.05%
   Four Period Average (Current and Three Prior Collection Periods)   0.12%
         
121  Total Delinquencies - Ratio of Principal Balance of 61-Day Delinquent Receivables to the Pool balance as of Each Collection Period   Percentage 
122  Current Period   0.41%
123  Prior Period   0.39%
124  Two Periods Prior   0.34%
125  Three Periods Prior   0.39%
   Four Period Average (Current and Three Prior Collection Periods)   0.38%
         
126  Delinquency Trigger   4.48%
127  Delinquency Percentage (61-Day Delinquent Receivables)   0.41%
128  Delinquency Trigger occurred in this collection Period?   No 

 

  Summary of Material Modifications, Extensions or Waivers
  None in the current month
   
  Summary of Material Breaches of Representations or Warranties Related to Eligibility Criteria
  None in the current month
   
  Summary of Material Breaches by the Issuer of Transaction Covenants
  None in the current month
   
  Summary of Material Changes in Practices With respect to Charge-Offs, Collections and Management of Delinquent Receivables and the Effect
  of any Grace Period, Re-Aging, Re-Structuring, Partial Payments or Other Practices on Delinquency and Loss Experience
  None in the current month
   
  Credit Risk Retention Information (To appear on the first servicing certificate after closing)

 

VW CREDIT, INC., as Servicer  
     
By:    
     
Title: Team Leader - Structured Finance  
     
Date: October 16, 2025