Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | September 2026 |
| Payment Date | 10/15/2026 |
| Transaction Month | 35 | |
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 | | | 4.19850 | % | * | 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 | $ | 1,537,996.39 | |
| |
| Principal: | |
| Principal Collections | $ | 11,588,172.49 | |
| Prepayments in Full | $ | 5,525,095.61 | |
| Liquidation Proceeds | $ | 390,793.98 | |
| Recoveries | $ | 46,668.84 | |
| Sub Total | $ | 17,550,730.92 | |
| Collections | $ | 19,088,727.31 | |
| |
| Purchase Amounts: | |
| Purchase Amounts Related to Principal | $ | 175,011.26 | |
| Purchase Amounts Related to Interest | $ | 1,164.40 | |
| Sub Total | $ | 176,175.66 | |
| |
| Clean-up Call | $ | 0.00 | |
| |
| Reserve Account Draw Amount | $ | 0.00 | |
| |
| Available Funds - Total | $ | 19,264,902.97 | |
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | September 2026 |
| Payment Date | 10/15/2026 |
| Transaction Month | 35 | |
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 | | | $ | 19,264,902.97 | |
| Servicing Fee | $ | 263,002.98 | | | $ | 263,002.98 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 19,001,899.99 | |
| Interest - Class A-1 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 19,001,899.99 | |
| Interest - Class A-2a Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 19,001,899.99 | |
| Interest - Class A-2b Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 19,001,899.99 | |
| Interest - Class A-3 Notes | $ | 629,617.58 | | | $ | 629,617.58 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 18,372,282.41 | |
| Interest - Class A-4 Notes | $ | 285,937.50 | | | $ | 285,937.50 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 18,086,344.91 | |
| First Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 18,086,344.91 | |
| Interest - Class B Notes | $ | 195,097.00 | | | $ | 195,097.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 17,891,247.91 | |
| Second Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 17,891,247.91 | |
| Interest - Class C Notes | $ | 139,609.17 | | | $ | 139,609.17 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 17,751,638.74 | |
| Reserve Account Deposit | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 17,751,638.74 | |
| Regular Principal Payment | $ | 16,187,753.81 | | | $ | 16,187,753.81 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 1,563,884.93 | |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 1,563,884.93 | |
| Residual Released to Depositor | $ | 0.00 | | | $ | 1,563,884.93 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Total | | | $ | 19,264,902.97 | | | | | | | |
| | | | | | | | | |
| Principal Payment: | | | | | | | | | |
| First Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Second Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Regular Principal Payment | | | | | | | | | $ | 16,187,753.81 | |
| Total | | | | | | | | | $ | 16,187,753.81 | |
| | | | | | | | | |
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 | $ | 16,187,753.81 | | | $ | 35.10 | | | $ | 629,617.58 | | | $ | 1.37 | | | $ | 16,817,371.39 | | | $ | 36.47 | |
| 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 | $ | 16,187,753.81 | | | $ | 12.30 | | | $ | 1,250,261.25 | | | $ | 0.95 | | | $ | 17,438,015.06 | | | $ | 13.25 | |
| | | | | | | | | | | |
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | September 2026 |
| Payment Date | 10/15/2026 |
| Transaction Month | 35 | |
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 | $ | 136,625,876.17 | | | 0.2962079 | | $ | 120,438,122.36 | | | 0.2611125 |
| 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 | $ | 264,905,876.17 | | | 0.2013299 | | $ | 248,718,122.36 | | | 0.1890271 |
| | | | | | | | | | | |
| Pool Information | | | |
| Weighted Average APR | 5.819 | % | | 5.853 | % |
| Weighted Average Remaining Term | 31.38 | | 30.68 |
| Number of Receivables Outstanding | 15,806 | | 15,122 |
| Pool Balance | $ | 315,603,574.50 | | | $ | 297,638,581.10 | |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 292,666,222.40 | | | $ | 276,208,993.69 | |
| Pool Factor | 0.2186559 | | 0.2062094 |
| | | |
VI. OVERCOLLATERALIZATION INFORMATION
| | | | | |
| Specified Reserve Balance | $ | 3,289,470.37 | |
| Yield Supplement Overcollateralization Amount | $ | 21,429,587.41 | |
| Targeted Overcollateralization Amount | $ | 48,920,458.74 | |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 48,920,458.74 | |
| |
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 | September 2026 |
| Payment Date | 10/15/2026 |
| Transaction Month | 35 | |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| | | | | | | | | | | | | | | | | |
| | | # of Receivables | | Amount |
| Current Collection Period Loss: | | | | | |
| Realized Loss (Charge-Offs) | | | 62 | | $ | 285,920.06 | |
| (Recoveries) | | | 66 | | $ | 46,668.84 | |
| Net Loss for Current Collection Period | | | | | $ | 239,251.22 | |
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | | | | | 0.9097 | % |
| | | | | |
| Prior and Current Collection Periods Average Loss: | | | | | |
| | | | | |
| Ratio of Net Loss to the Average Pool Balance (annualized) | | | | | |
| Third Prior Collection Period | | | | | 1.1007 | % |
| Second Prior Collection Period | | 0.9320 | % |
| Prior Collection Period | | | | | 0.7533 | % |
| Current Collection Period | | | | | 0.9363 | % |
| Four Month Average (Current and Prior Three Collection Periods) | | | | | 0.9306 | % |
| | | | | |
| Cumulative Loss: | | | | | |
| Cumulative Realized Loss (Charge-Offs) | | | 2,312 | | $ | 12,907,426.73 | |
| (Cumulative Recoveries) | | | | | $ | 1,916,163.53 | |
| Cumulative Net Loss for All Collection Periods | | | | | $ | 10,991,263.20 | |
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | | | | 0.7615 | % |
| | | | | |
| Average Realized Loss for Receivables that have experienced a Realized Loss | | | | | $ | 5,582.80 | |
| Average Net Loss for Receivables that have experienced a Realized Loss | | | | | $ | 4,754.01 | |
| | | | | |
| % of EOP Pool Balance | | # of Receivables | | Amount |
| Delinquent Receivables: | | | | | |
| 31-60 Days Delinquent | 1.70 | % | | 176 | | $ | 5,068,229.82 | |
| 61-90 Days Delinquent | 0.40 | % | | 36 | | $ | 1,186,813.31 | |
| 91-120 Days Delinquent | 0.13 | % | | 9 | | $ | 381,703.55 | |
| Over 120 Days Delinquent | 0.18 | % | | 17 | | $ | 529,397.39 | |
| Total Delinquent Receivables | 2.41 | % | | 238 | | $ | 7,166,144.07 | |
|
| Repossession Inventory: | | | | | |
| Repossessed in the Current Collection Period | | | 12 | | $ | 346,383.76 | |
| Total Repossessed Inventory | | | 25 | | $ | 807,376.26 | |
| | | | | |
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | | |
| Second Prior Collection Period | | | | | 0.3339 | % |
| Prior Collection Period | | | | | 0.3606 | % |
| Current Collection Period | | | | | 0.4100 | % |
| Three Month Average | | | | | 0.3682 | % |
| | | | | |
| 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 | | | | | 0.7049 | % |
| Delinquency Trigger Occurred | | | | | No |
Ford Credit Auto Owner Trust 2023-C
Monthly Investor Report
| | | | | |
| Collection Period | September 2026 |
| Payment Date | 10/15/2026 |
| Transaction Month | 35 | |
| | | | | | | | | | | | | | |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| | | | |
| 1 Month Extended | | | 56 | $1,687,416.77 | |
| 2 Months Extended | | | 70 | $2,108,241.43 | |
| 3+ Months Extended | | | 25 | $700,792.92 | |
| | | | |
| Total Receivables Extended | 151 | $4,496,451.12 | |
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