Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | August 2026 |
| Payment Date | 9/15/2026 |
| Transaction Month | 34 | |
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 | | | 4.18650 | % | * | 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 | $ | 1,600,560.58 | |
| |
| Principal: | |
| Principal Collections | $ | 12,199,633.92 | |
| Prepayments in Full | $ | 5,745,636.37 | |
| Liquidation Proceeds | $ | 326,767.36 | |
| Recoveries | $ | 66,214.85 | |
| Sub Total | $ | 18,338,252.50 | |
| Collections | $ | 19,938,813.08 | |
| |
| Purchase Amounts: | |
| Purchase Amounts Related to Principal | $ | 343,454.00 | |
| Purchase Amounts Related to Interest | $ | 2,304.95 | |
| Sub Total | $ | 345,758.95 | |
| |
| Clean-up Call | $ | 0.00 | |
| |
| Reserve Account Draw Amount | $ | 0.00 | |
| |
| Available Funds - Total | $ | 20,284,572.03 | |
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | August 2026 |
| Payment Date | 9/15/2026 |
| Transaction Month | 34 | |
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 | | | $ | 20,284,572.03 | |
| Servicing Fee | $ | 278,741.10 | | | $ | 278,741.10 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,005,830.93 | |
| Interest - Class A-1 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,005,830.93 | |
| Interest - Class A-2a Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,005,830.93 | |
| Interest - Class A-2b Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 20,005,830.93 | |
| Interest - Class A-3 Notes | $ | 708,076.14 | | | $ | 708,076.14 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 19,297,754.79 | |
| Interest - Class A-4 Notes | $ | 285,937.50 | | | $ | 285,937.50 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 19,011,817.29 | |
| First Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 19,011,817.29 | |
| Interest - Class B Notes | $ | 195,097.00 | | | $ | 195,097.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 18,816,720.29 | |
| Second Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 18,816,720.29 | |
| Interest - Class C Notes | $ | 139,609.17 | | | $ | 139,609.17 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 18,677,111.12 | |
| Reserve Account Deposit | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 18,677,111.12 | |
| Regular Principal Payment | $ | 17,025,366.23 | | | $ | 17,025,366.23 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 1,651,744.89 | |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 1,651,744.89 | |
| Residual Released to Depositor | $ | 0.00 | | | $ | 1,651,744.89 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Total | | | $ | 20,284,572.03 | | | | | | | |
| | | | | | | | | |
| Principal Payment: | | | | | | | | | |
| First Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Second Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Regular Principal Payment | | | | | | | | | $ | 17,025,366.23 | |
| Total | | | | | | | | | $ | 17,025,366.23 | |
| | | | | | | | | |
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 | $ | 17,025,366.23 | | | $ | 36.91 | | | $ | 708,076.14 | | | $ | 1.54 | | | $ | 17,733,442.37 | | | $ | 38.45 | |
| 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 | $ | 17,025,366.23 | | | $ | 12.94 | | | $ | 1,328,719.81 | | | $ | 1.01 | | | $ | 18,354,086.04 | | | $ | 13.95 | |
| | | | | | | | | | | |
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | August 2026 |
| Payment Date | 9/15/2026 |
| Transaction Month | 34 | |
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 | $ | 153,651,242.40 | | | 0.3331192 | | $ | 136,625,876.17 | | | 0.2962079 |
| 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 | $ | 281,931,242.40 | | | 0.2142693 | | $ | 264,905,876.17 | | | 0.2013299 |
| | | | | | | | | | | |
| Pool Information | | | |
| Weighted Average APR | 5.794 | % | | 5.819 | % |
| Weighted Average Remaining Term | 32.10 | | 31.38 |
| Number of Receivables Outstanding | 16,474 | | 15,806 |
| Pool Balance | $ | 334,489,324.02 | | | $ | 315,603,574.50 | |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 309,974,874.87 | | | $ | 292,666,222.40 | |
| Pool Factor | 0.2317403 | | 0.2186559 |
| | | |
VI. OVERCOLLATERALIZATION INFORMATION
| | | | | |
| Specified Reserve Balance | $ | 3,289,470.37 | |
| Yield Supplement Overcollateralization Amount | $ | 22,937,352.10 | |
| Targeted Overcollateralization Amount | $ | 50,697,698.33 | |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 50,697,698.33 | |
| |
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 | August 2026 |
| Payment Date | 9/15/2026 |
| Transaction Month | 34 | |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| | | | | | | | | | | | | | | | | |
| | | # of Receivables | | Amount |
| Current Collection Period Loss: | | | | | |
| Realized Loss (Charge-Offs) | | | 53 | | $ | 270,257.87 | |
| (Recoveries) | | | 75 | | $ | 66,214.85 | |
| Net Loss for Current Collection Period | | | | | $ | 204,043.02 | |
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | | | | | 0.7320 | % |
| | | | | |
| Prior and Current Collection Periods Average Loss: | | | | | |
| | | | | |
| Ratio of Net Loss to the Average Pool Balance (annualized) | | | | | |
| Third Prior Collection Period | | | | | 0.5588 | % |
| Second Prior Collection Period | | 1.1007 | % |
| Prior Collection Period | | | | | 0.9320 | % |
| Current Collection Period | | | | | 0.7533 | % |
| Four Month Average (Current and Prior Three Collection Periods) | | | | | 0.8362 | % |
| | | | | |
| Cumulative Loss: | | | | | |
| Cumulative Realized Loss (Charge-Offs) | | | 2,250 | | $ | 12,621,506.67 | |
| (Cumulative Recoveries) | | | | | $ | 1,869,494.69 | |
| Cumulative Net Loss for All Collection Periods | | | | | $ | 10,752,011.98 | |
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | | | | 0.7449 | % |
| | | | | |
| Average Realized Loss for Receivables that have experienced a Realized Loss | | | | | $ | 5,609.56 | |
| Average Net Loss for Receivables that have experienced a Realized Loss | | | | | $ | 4,778.67 | |
| | | | | |
| % of EOP Pool Balance | | # of Receivables | | Amount |
| Delinquent Receivables: | | | | | |
| 31-60 Days Delinquent | 1.74 | % | | 188 | | $ | 5,496,291.74 | |
| 61-90 Days Delinquent | 0.36 | % | | 35 | | $ | 1,147,693.81 | |
| 91-120 Days Delinquent | 0.05 | % | | 3 | | $ | 155,514.42 | |
| Over 120 Days Delinquent | 0.18 | % | | 19 | | $ | 575,479.65 | |
| Total Delinquent Receivables | 2.34 | % | | 245 | | $ | 7,374,979.62 | |
|
| Repossession Inventory: | | | | | |
| Repossessed in the Current Collection Period | | | 20 | | $ | 649,593.04 | |
| Total Repossessed Inventory | | | 35 | | $ | 1,164,572.11 | |
| | | | | |
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | | |
| Second Prior Collection Period | | | | | 0.3232 | % |
| Prior Collection Period | | | | | 0.3339 | % |
| Current Collection Period | | | | | 0.3606 | % |
| Three Month Average | | | | | 0.3392 | % |
| | | | | |
| 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 | | | | | 0.5953 | % |
| Delinquency Trigger Occurred | | | | | No |
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | August 2026 |
| Payment Date | 9/15/2026 |
| Transaction Month | 34 | |
| | | | | | | | | | | | | | |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| | | | |
| 1 Month Extended | | | 61 | $1,901,053.06 | |
| 2 Months Extended | | | 63 | $1,933,561.35 | |
| 3+ Months Extended | | | 10 | $291,732.57 | |
| | | | |
| Total Receivables Extended | 134 | $4,126,346.98 | |
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