Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | June 2026 |
| Payment Date | 7/15/2026 |
| Transaction Month | 32 | |
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 | $ | 1,443,380,079.18 | | | 40,320 | | | 55.8 months |
| | | | | |
| Dollar Amount | | Note Interest Rate | | Final Scheduled Payment Date |
| Original Securities | | | | | |
| Class A-1 Notes | $ | 265,000,000.00 | | | 5.590 | % | | December 15, 2024 |
| Class A-2a Notes | $ | 261,250,000.00 | | | 5.68 | % | | September 15, 2026 |
| Class A-2b Notes | $ | 200,000,000.00 | | | 4.14301 | % | * | September 15, 2026 |
| Class A-3 Notes | $ | 461,250,000.00 | | | 5.53 | % | | September 15, 2028 |
| Class A-4 Notes | $ | 62,500,000.00 | | | 5.49 | % | | May 15, 2029 |
| Class B Notes | $ | 39,480,000.00 | | | 5.93 | % | | August 15, 2029 |
| Class C Notes | $ | 26,300,000.00 | | | 6.37 | % | | May 15, 2031 |
| Total | $ | 1,315,780,000.00 | | | | | |
| | | * 30-day average SOFR + 0.55% |
II. AVAILABLE FUNDS
| | | | | |
| Interest: | |
| Interest Collections | $ | 1,868,083.94 | |
| |
| Principal: | |
| Principal Collections | $ | 14,275,936.67 | |
| Prepayments in Full | $ | 7,140,391.93 | |
| Liquidation Proceeds | $ | 190,996.13 | |
| Recoveries | $ | 107,874.15 | |
| Sub Total | $ | 21,715,198.88 | |
| Collections | $ | 23,583,282.82 | |
| |
| Purchase Amounts: | |
| Purchase Amounts Related to Principal | $ | 233,275.33 | |
| Purchase Amounts Related to Interest | $ | 1,378.41 | |
| Sub Total | $ | 234,653.74 | |
| |
| Clean-up Call | $ | 0.00 | |
| |
| Reserve Account Draw Amount | $ | 0.00 | |
| |
| Available Funds - Total | $ | 23,817,936.56 | |
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | June 2026 |
| Payment Date | 7/15/2026 |
| Transaction Month | 32 | |
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 | | | $ | 23,817,936.56 | |
| Servicing Fee | $ | 314,904.13 | | | $ | 314,904.13 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 23,503,032.43 | |
| Interest - Class A-1 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 23,503,032.43 | |
| Interest - Class A-2a Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 23,503,032.43 | |
| Interest - Class A-2b Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 23,503,032.43 | |
| Interest - Class A-3 Notes | $ | 889,472.83 | | | $ | 889,472.83 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 22,613,559.60 | |
| Interest - Class A-4 Notes | $ | 285,937.50 | | | $ | 285,937.50 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 22,327,622.10 | |
| First Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 22,327,622.10 | |
| Interest - Class B Notes | $ | 195,097.00 | | | $ | 195,097.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 22,132,525.10 | |
| Second Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 22,132,525.10 | |
| Interest - Class C Notes | $ | 139,609.17 | | | $ | 139,609.17 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 21,992,915.93 | |
| Reserve Account Deposit | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 21,992,915.93 | |
| Regular Principal Payment | $ | 20,220,026.10 | | | $ | 20,220,026.10 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 1,772,889.83 | |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 1,772,889.83 | |
| Residual Released to Depositor | $ | 0.00 | | | $ | 1,772,889.83 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Total | | | $ | 23,817,936.56 | | | | | | | |
| | | | | | | | | |
| Principal Payment: | | | | | | | | | |
| First Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Second Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Regular Principal Payment | | | | | | | | | $ | 20,220,026.10 | |
| Total | | | | | | | | | $ | 20,220,026.10 | |
| | | | | | | | | |
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 | $ | 20,220,026.10 | | | $ | 43.84 | | | $ | 889,472.83 | | | $ | 1.93 | | | $ | 21,109,498.93 | | | $ | 45.77 | |
| Class A-4 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 285,937.50 | | | $ | 4.58 | | | $ | 285,937.50 | | | $ | 4.58 | |
| Class B Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 195,097.00 | | | $ | 4.94 | | | $ | 195,097.00 | | | $ | 4.94 | |
| Class C Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 139,609.17 | | | $ | 5.31 | | | $ | 139,609.17 | | | $ | 5.31 | |
| Total | $ | 20,220,026.10 | | | $ | 15.37 | | | $ | 1,510,116.50 | | | $ | 1.15 | | | $ | 21,730,142.60 | | | $ | 16.52 | |
| | | | | | | | | | | |
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | June 2026 |
| Payment Date | 7/15/2026 |
| Transaction Month | 32 | |
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 | $ | 193,013,996.70 | | | 0.4184585 | | $ | 172,793,970.60 | | | 0.3746211 |
| Class A-4 Notes | $ | 62,500,000.00 | | | 1.0000000 | | $ | 62,500,000.00 | | | 1.0000000 |
| Class B Notes | $ | 39,480,000.00 | | | 1.0000000 | | $ | 39,480,000.00 | | | 1.0000000 |
| Class C Notes | $ | 26,300,000.00 | | | 1.0000000 | | $ | 26,300,000.00 | | | 1.0000000 |
| Total | $ | 321,293,996.70 | | | 0.2441852 | | $ | 301,073,970.60 | | | 0.2288179 |
| | | | | | | | | | | |
| Pool Information | | | |
| Weighted Average APR | 5.728 | % | | 5.761 | % |
| Weighted Average Remaining Term | 33.45 | | 32.78 |
| Number of Receivables Outstanding | 18,240 | | 17,328 |
| Pool Balance | $ | 377,884,961.63 | | | $ | 355,600,079.23 | |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 349,988,563.73 | | | $ | 329,434,264.40 | |
| Pool Factor | 0.2618056 | | 0.2463662 |
| | | |
VI. OVERCOLLATERALIZATION INFORMATION
| | | | | |
| Specified Reserve Balance | $ | 3,289,470.37 | |
| Yield Supplement Overcollateralization Amount | $ | 26,165,814.83 | |
| Targeted Overcollateralization Amount | $ | 54,526,108.63 | |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 54,526,108.63 | |
| |
VII. RECONCILIATION OF RESERVE ACCOUNT
| | | | | |
| Beginning Reserve Account Balance | $ | 3,289,470.37 | |
| Reserve Account Deposits Made | $ | 0.00 | |
| Reserve Account Draw Amount | $ | 0.00 | |
| Ending Reserve Account Balance | $ | 3,289,470.37 | |
| Change in Reserve Account Balance | $ | 0.00 | |
| Specified Reserve Balance | $ | 3,289,470.37 | |
| |
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | June 2026 |
| Payment Date | 7/15/2026 |
| Transaction Month | 32 | |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| | | | | | | | | | | | | | | | | |
| | | # of Receivables | | Amount |
| Current Collection Period Loss: | | | | | |
| Realized Loss (Charge-Offs) | | | 62 | | $ | 444,282.34 | |
| (Recoveries) | | | 81 | | $ | 107,874.15 | |
| Net Loss for Current Collection Period | | | | | $ | 336,408.19 | |
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | | | | | 1.0683 | % |
| | | | | |
| Prior and Current Collection Periods Average Loss: | | | | | |
| | | | | |
| Ratio of Net Loss to the Average Pool Balance (annualized) | | | | | |
| Third Prior Collection Period | | | | | 1.0046 | % |
| Second Prior Collection Period | | 1.1821 | % |
| Prior Collection Period | | | | | 0.5588 | % |
| Current Collection Period | | | | | 1.1007 | % |
| Four Month Average (Current and Prior Three Collection Periods) | | | | | 0.9616 | % |
| | | | | |
| Cumulative Loss: | | | | | |
| Cumulative Realized Loss (Charge-Offs) | | | 2,145 | | $ | 12,004,907.22 | |
| (Cumulative Recoveries) | | | | | $ | 1,724,925.94 | |
| Cumulative Net Loss for All Collection Periods | | | | | $ | 10,279,981.28 | |
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | | | | 0.7122 | % |
| | | | | |
| Average Realized Loss for Receivables that have experienced a Realized Loss | | | | | $ | 5,596.69 | |
| Average Net Loss for Receivables that have experienced a Realized Loss | | | | | $ | 4,792.53 | |
| | | | | |
| % of EOP Pool Balance | | # of Receivables | | Amount |
| Delinquent Receivables: | | | | | |
| 31-60 Days Delinquent | 1.61 | % | | 182 | | $ | 5,730,237.39 | |
| 61-90 Days Delinquent | 0.30 | % | | 31 | | $ | 1,077,561.27 | |
| 91-120 Days Delinquent | 0.08 | % | | 11 | | $ | 292,428.25 | |
| Over 120 Days Delinquent | 0.14 | % | | 14 | | $ | 491,235.22 | |
| Total Delinquent Receivables | 2.13 | % | | 238 | | $ | 7,591,462.13 | |
|
| Repossession Inventory: | | | | | |
| Repossessed in the Current Collection Period | | | 12 | | $ | 445,247.65 | |
| Total Repossessed Inventory | | | 31 | | $ | 1,093,504.58 | |
| | | | | |
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | | |
| Second Prior Collection Period | | | | | 0.2889 | % |
| Prior Collection Period | | | | | 0.3180 | % |
| Current Collection Period | | | | | 0.3232 | % |
| Three Month Average | | | | | 0.3100 | % |
| | | | | |
| 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 | | | | | 0.5234 | % |
| Delinquency Trigger Occurred | | | | | No |
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | June 2026 |
| Payment Date | 7/15/2026 |
| Transaction Month | 32 | |
| | | | | | | | | | | | | | |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| | | | |
| 1 Month Extended | | | 51 | $1,495,197.67 |
| 2 Months Extended | | | 93 | $2,867,637.05 |
| 3+ Months Extended | | | 24 | $687,862.85 |
| | | | |
| Total Receivables Extended | 168 | $5,050,697.57 |
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 6, 2026 |
|
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