<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 25, 1997
--------------------
Toyota Auto Lease Trust 1997-A
------------------------------------------------------
(Exact name of registrant as specified in its charter)
California 333-26717 33-0755530
- ------------------- ---------------- -------------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
Toyota Leasing, Inc.
19001 South Western Avenue
Torrance, California 90509
- ---------------------------------------------- -------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (310) 787-1310
-------------------
Exhibit Index is on Page 2
Page 1 of 3
<PAGE>
Item 5. Other Events
------------
On September 25, 1997, interest collected during the preceding calendar month
as provided for in the 1997-A Securitization Trust Agreement dated as of
September 1, 1997 between Toyota Leasing, Inc. ("TLI"), as "Transferor", and
U.S. Bank National Association ("USBNA"), as "Trustee", and the 1997-A SUBI
Servicing Supplement to the Amended and Restated Trust and Servicing
Agreement, dated October 1, 1996, among TMTT, Inc., as "Titling Trustee",
Toyota Motor Credit Corporation ("TMCC"), as "Servicer", and USBNA, as "Trust
Agent" (the "Agreements"), was allocated to the holders of certificates
representing undivided fractional interests in the Toyota Auto Lease Trust
1997-A (the "Certificateholders"). In accordance with the Agreements, the
Servicer's Certificate, as defined in the Agreements, was furnished to the
Trustee for the benefit of the Certificateholders and was distributed by the
Trustee to the Certificateholders. On October 10, 1997, a preliminary
Servicer's Certificate for the month of August 1997 was filed as an exhibit to
the Form 8-K filed by TMCC on behalf of Toyota Auto Lease Trust 1997-A. A
copy of the final Servicer's Certificate for the month of August 1997 is filed
as Exhibit 20(a) to this Current Report on Form 8-K.
On October 27, 1997, interest collected during the preceding calendar month as
provided for in the Agreements was allocated to the Certificateholders. In
accordance with the Agreements, the Servicer's Certificate, as defined in the
Agreements, was furnished to the Trustee for the benefit of the
Certificateholders and was distributed by the Trustee to the
Certificateholders. A copy of the Servicer's Certificate for the month of
September 1997 is filed as Exhibit 20(b) to this Current Report on Form 8-K.
The net proceeds from the sale of the Class A Certificates (i.e., the proceeds
of the public offering of the Class A Certificates minus expenses relating
thereto) were applied by the Transferor to purchase the SUBI Certificate and
to make the Initial Deposit into the Reserve Fund.
Item 7(c). Exhibits
Exhibit Number Description
-------------- -----------
20 (a) Servicer's Certificate for the month of
August, 1997.
20 (b) Servicer's Certificate for the month of
September, 1997.
-2-
<PAGE>
SIGNATURES
----------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TOYOTA AUTO LEASE TRUST 1997-A
BY: TOYOTA MOTOR CREDIT CORPORATION, AS SERVICER
Date: November 12, 1997 By: /S/ GREGORY WILLIS
----------------- --------------------------------------------
Gregory Willis
Vice President-Finance and Administration
(Principal Accounting Officer)
-3-
<PAGE>
<TABLE>
Exhibit 20 (a)
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 1997 for the Collection Period of August 1, through August 31, 1997
Final
Certificate Balance
--------------------------------
Total Percent Balance
---------------- ------- ----------------
<S> <C> <C> <C>
Original Deal Parameter
- -----------------------
Discounted Principal Balance 1,231,231,519.20
Aggregate Net Investment Value 1,231,231,519.20
Initial Certificate Balance 100.00% 1,206,600,000.00
Percent of ANIV 98.00%
Certificate Factor 1.0000000
Certificate Rate
Weighted Average Coupon (WAC) 7.66%
Weighted Average Remaining Term (WAM) 35.8
Servicing Fee Percentage 1.00%
Servicer Advance 2,825,418.78
Servicer Payahead 1,580,862.05
Reserve Fund:
Initial Deposit Amount 30,780,787.98
Specified Reserve Fund Percentage 2.50%
Specified Reserve Fund Amount 30,780,787.98
Trigger Percentage 5.00%
Trigger Amount 61,561,575.96
Input from Prior Monthly Servicer's Certificate
- -----------------------------------------------
Discounted Principal Balance 1,231,231,519.20
Aggregate Net Investment Value 1,231,231,519.20
Certificate Balance 1,206,600,000.00
Adjusted Certificate Balance 1,206,600,000.00
Percent of ANIV 98.00%
Certificate Factor 1.0000000
Servicer Advances 2,825,418.78
Servicer Pay Ahead Balance 1,580,862.05
Maturity Advances Outstanding -
Cumulative Credit Losses to Date -
Cumulative Reimbursed Credit Loss -
Cumulative Residual Value Gain (Loss) -
Cumulative Reimbursed Residual Value Losses -
Certificate Principal Loss Amount -
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
End of Period Balances
- ----------------------
Discounted Principal Balance 1,217,716,677.65
Aggregate Investment Value 1,231,231,519.20
Certificate Balance 1,206,600,000.00
Adjusted Certificate Balance 1,206,600,000.00
Percent of ANIV 98.00%
Certificate Factor 1.0000000
Servicer Advance Balance 3,316,515.38
Servicer Pay Ahead Balance 1,371,766.67
Cumulative Credit Losses to Date (30,557.67)
Cumulative Reimbursed Credit Loss (30,557.67)
Cumulative Residual Value Gain (Loss) -
Cumulative Reimbursed Residual Value Losses -
Certificate Principal Loss Amount -
Maturity Advances Outstanding -
Number of Current Contracts 56,141
Weighted Average Coupon (WAC) 7.65%
Weighted Average Remaining Term (WAM) 34.79
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 1997 for the Collection Period of August 1, through August 31, 1997
Final
Class A1 Class A1 Class A2 Class A2
Percent Balance Percent Balance
-------- -------------- -------- --------------
<S> <C> <C> <C> <C>
Original Deal Parameter
- -----------------------
Discounted Principal Balance
Aggregate Net Investment Value
Initial Certificate Balance 33.98% 410,000,000.00 53.87% 650,000,000.00
Percent of ANIV 33.30% 52.79%
Certificate Factor 1.0000000 1.0000000
Certificate Rate 6.20% 6.35%
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
Servicing Fee Percentage
Servicer Advance
Servicer Payahead
Reserve Fund:
Initial Deposit Amount
Specified Reserve Fund Percentage
Specified Reserve Fund Amount
Trigger Percentage
Trigger Amount
Input from Prior Monthly Servicer's Certificate
- -----------------------------------------------
Discounted Principal Balance
Aggregate Net Investment Value
Certificate Balance 410,000,000.00 650,000,000.00
Adjusted Certificate Balance 410,000,000.00 650,000,000.00
Percent of ANIV 33.30% 52.79%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
End of Period Balances
- ----------------------
Discounted Principal Balance
Aggregate Investment Value
Certificate Balance 410,000,000.00 650,000,000.00
Adjusted Certificate Balance 410,000,000.00 650,000,000.00
Percent of ANIV 33.30% 52.79%
Certificate Factor 1.0000000 1.0000000
Servicer Advance Balance
Servicer Pay Ahead Balance
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 1997 for the Collection Period of August 1, through August 31, 1997
Final
Class A3 Class A3 Class B Class B
Percent Balance Percent Balance
-------- ------------- ------- -------------
<S> <C> <C> <C> <C>
Original Deal Parameter
- -----------------------
Discounted Principal Balance
Aggregate Net Investment Value
Initial Certificate Balance 6.03% 72,750,000.00 6.12% 73,850,000.00
Percent of ANIV 5.91% 6.00%
Certificate Factor 1.0000000 1.0000000
Certificate Rate 6.45% 6.75%
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
Servicing Fee Percentage
Servicer Advance
Servicer Payahead
Reserve Fund:
Initial Deposit Amount
Specified Reserve Fund Percentage
Specified Reserve Fund Amount
Trigger Percentage
Trigger Amount
Input from Prior Monthly Servicer's Certificate
- -----------------------------------------------
Discounted Principal Balance
Aggregate Net Investment Value
Certificate Balance 72,750,000.00 73,850,000.00
Adjusted Certificate Balance 72,750,000.00 73,850,000.00
Percent of ANIV 5.91% 6.00%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
End of Period Balances
- ----------------------
Discounted Principal Balance
Aggregate Investment Value
Certificate Balance 72,750,000.00 73,850,000.00
Adjusted Certificate Balance 72,750,000.00 73,850,000.00
Percent of ANIV 5.91% 6.00%
Certificate Factor 1.0000000 1.0000000
Servicer Advance Balance
Servicer Pay Ahead Balance
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 1997 for the Collection Period of August 1, through August 31, 1997
Final
Transferor Interest
Balance
--------------------
<S> <C>
Original Deal Parameter
- -----------------------
Discounted Principal Balance
Aggregate Net Investment Value
Initial Certificate Balance 24,631,519.20
Percent of ANIV 2.00%
Certificate Factor
Certificate Rate
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
Servicing Fee Percentage
Servicer Advance
Servicer Payahead
Reserve Fund:
Initial Deposit Amount
Specified Reserve Fund Percentage
Specified Reserve Fund Amount
Trigger Percentage
Trigger Amount
Input from Prior Monthly Servicer's Certificate
- -----------------------------------------------
Discounted Principal Balance
Aggregate Net Investment Value
Certificate Balance 24,631,519.20
Adjusted Certificate Balance 24,631,519.20
Percent of ANIV 2.00%
Certificate Factor
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
End of Period Balances
- ----------------------
Discounted Principal Balance
Aggregate Investment Value
Certificate Balance 24,631,519.20
Adjusted Certificate Balance 24,631,519.20
Percent of ANIV 2.00%
Certificate Factor
Servicer Advance Balance
Servicer Pay Ahead Balance
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 1997 for the Collection Period of August 1, through August 31, 1997
Final
<S> <C> <C> <C> <C>
Currently Monthly Collection Activity
Principal Collections 8,952,772.72
Prepayment in Full - Number 97
Prepayments in Full - Amount 2,137,956.14
Reallocation - Number of Leases 65
Reallocation Payment 1,616,383.45
Interest Collections 9,741,908.39
Net Liquidation Proceeds - Credit Losses 838,286.91
Non-recoverable Advances (3,903.64)
Increase (Decrease) in Maturity Advances -
Net Liquidation Proceeds - Vehicle Sales -
Reimbursed Certificate Principal Losses -
Net Investment Income -
-------------
Total Available 23,283,403.97
Increase (Decrease) in Servicer Advances 491,096.60
(Increase) Decrease in PayAheads Held 209,095.38
ANIV
Currently Monthly Operational Activity Vehicles Balance
Inventory on Hand:
Matured Lease Vehicle Inventory 0 -
Repossed Vehicle Inventory 93 2,021,407.86
-------- ------------
Total Inventory on Hand 93 2,021,407.86
======== ============
Residual Value Gain (Loss):
Matured Lease Vehicle Inventory Sold -
Net Liquidation Proceeds -
Net Residual Value Gain (Loss) -
Cumulative Residual Value Gain (Loss) all periods -
Liquidation of ChargeOffs and Repossessions:
Liquidated Contracts 37
Discounted Principal Balance 807,729.24
Net Liquidation Proceeds (838,286.91)
Recoveries - Previously Liquidated Contracts
--------------
Aggregate Credit Losses for the Collection Period (30,557.67)
==============
Cumulative Credit Losses for all Periods (30,557.67)
==============
Repossessed in Current Period 94
Deliquent Contracts: Accounts Percent ANIV Percent
-------- ------- ---- -------
31-60 Days Delinquent 435 0.77% 9,739,459.33 0.80%
61-90 Days Delinquent 46 0.08% 1,228,416.82 0.10%
Over 90 Days Delinquent 4 0.01% 85,371.83 0.01%
-------- ------- ------------- -------
Total Deliquencies 485 0.86% 11,053,247.98 0.91%
======== ======= ============= =======
Amount
Beginning Unreinvested Principal Collections
Current Month Principal Collections 13,514,841.55
-------------
Total Available 13,514,841.55
Allocation to Subsequent Contracts and Lease Vehicles -
=============
Ending Unreinvested Principal Collections 13,514.841.55
=============
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 1997 for the Collection Period of August 1, through August 31, 1997
Final
Current Annual
Amount Amount
------------- --------------
<S> <C> <C> <C> <C>
Capped and Uncapped Expenses:
Capped Contingent and Excess Liability Premiums 13,530.52 13,530.52
Capped Titling Trust Administration Expenses 1,250.00 1,250.00
Capped Securitization Trust Administration Expenses 833.33 833.33
Uncapped Titling Trust Administration Expenses
Uncapped Securitization Trust Administration Expenses
--------- ---------
Total Capped and Uncapped Expenses 15,613.85 15,613.85
Paid Expenses 15,613.85 15,613.85
Previous Unpaid Balance -
Current Unpaid Balance -
Servicers Fee Due:
Due from Previous Periods -
Due for this Period 1,026,026.27
Paid this Period (1,026,026.27)
Service Fee Balance Due -
Supplemental Servicers Fees 65,596.74
Number Scheduled Sale Average
Matured Vehicles Sold for Sold Maturities Ratio Loss
each Collection Period: ------------ ------------- -------------- ----------
Second Preceeding Collection Period
First Preceeding Collection Period
Current Collection Period
Three Month Average
Annualized
Average
Charge-Off
Rate
-------------
Ratio of Net Credit Losses to the Average Pool
Balance for Each Collection Period:
Second Preceeding Collection Period
First Preceeding Collection Period
Current Collection Period (0.03%)
Three Month Average (0.01%)
Ratio of Number of Contracts Delinquent 60 Days or
More to the Outstanding Number of Receivables as of
Each Collection Period (Includes Repossessions)
Second Preceding Collection Period -
First Preceding Collection Period -
Current Collection Period 0.09%
Three Month Average 0.03%
Class B Class A Total
Reserve Fund: Amount Amount Amount
Beginning Balance 1,246,218.75 29,534,569.23 30,780,787.98
Withdrawal Amount
Transferor Excess
------------ ------------- -------------
Ending Balance 1,246,218.75 29,534,569.23 30,780,787.98
------------ ------------- -------------
Specified Reserve Fund Balance 1,246,218.75 29,534,569.23 30,780,787.98
Release to Transferor
Cumulative Withdrawal Amount
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 1997 for the Collection Period of August 1, through August 31, 1997
Final
Certificate Balance
----------------------------
Total Percent Balance
------------ ------- ----------
<S> <C> <C> <C>
Certificate Interest Earned 212,145.14
- ---------------------------
Interest:
- --------
Interest Collections 9,741,908.39 98.00%
Prior Carryover Shortfall -
Carryover Shortfall (Inc) Dec -
Total Carryover Shortfall -
Servicers Fee (1,026,026.27)
Capped and Uncapped Expenses (15,613.85)
Non-recoverable Advances (3,903.64)
B Certificate Interest Subordinated Inc (Dec) -
B Certificate Principal Subordinated Inc (Dec) -
------------
Total Interest Available 8,696,364.63
------------
Interest on Carryover Shortfall -
Interest on Certificate Principal Loss Amount -
------------ ----------
Interest Distributed/Allocated 8,696,364.63 212,145.14
------------ ----------
Principal: (Revolving Period memo only)
- ---------------------------------------
Principal Collections 12,707,112.31
Liquidated Contracts 807,729.24
Accelerated Principal Distribution Amount -
Carryover Shortfall -
Prior Carryover Shortfall -
Total Carryover Shortfall -
B Certificate Principal Subordinated Inc (Dec) -
-------------
Total Principal Distribution 13,514,841.55
-------------
Certificate Principal Loss Amounts:
- -----------------------------------
Previous Certificate Principal Loss Amount -
Current Certificate Principal Loss Amount (30,557.67)
Reimbursed Certificate Principal Loss Amount 30,557.67
Ending Certificate Principal Loss Amount -
Class B Principal Subordinated:
- -------------------------------
Beginning Balance
Current increase (decrease)
Ending Balance
Class B Interest Subordinated:
- ------------------------------
Beginning Balance
Current increase (decrease)
Ending Balance
Principal Distribution/Allocations:
- -----------------------------------
Distribution - Current Period
Allocations - Current Period
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period
Interest Distributions/Allocations:
- -----------------------------------
Distribution - Current Period 8,514,777.17
Allocations - Current Period 212,145.14 212,145.14
Allocations - Not Disbursed Beginning of Period - -
Allocations - Not Disbursed End of Period 212,145.14 212,145.14
Due to Trust - Current Period:
- ------------------------------
Total Distribution Amount 8,514,777.17 -
Total Allocation Amount 212,145.14 212,145.14
------------ ----------
Total Due to Trust 8,726,922.30 212,145.14
----------- ----------
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 1997 for the Collection Period of August 1, through August 31, 1997
Final
Class A1 Class A1 Class A2 Class A2
Percent Balance Percent Balance
--------- --------- ---------- ----------
<S> <C> <C> <C> <C>
Certificate Interest Earned 70,611.11 114,652.78
- ---------------------------
Interest:
- ---------
Interest Collections
Prior Carryover Shortfall
Carryover Shortfall (Inc) Dec
Total Carryover Shortfall
Servicers Fee
Capped and Uncapped Expenses
Non-recoverable Advances
B Certificate Interest Subordinated Inc (Dec)
B Certificate Principal Subordinated Inc (Dec)
Total Interest Available
Interest on Carryover Shortfall
Interest on Certificate Principal Loss Amount
--------- ----------
Interest Distributed/Allocated 70,611.11 114,652.78
--------- ----------
Principal: (Revolving Period memo only)
- ---------------------------------------
Principal Collections
Liquidated Contracts
Accelerated Principal Distribution Amount
Carryover Shortfall
Prior Carryover Shortfall
Total Carryover Shortfall
B Certificate Principal Subordinated Inc (Dec)
Total Principal Distribution
Certificate Principal Loss Amounts:
- -----------------------------------
Previous Certificate Principal Loss Amount
Current Certificate Principal Loss Amount
Reimbursed Certificate Principal Loss Amount
Ending Certificate Principal Loss Amount
Class B Principal Subordinated:
- -------------------------------
Beginning Balance
Current increase (decrease)
Ending Balance
Class B Interest Subordinated:
- ------------------------------
Beginning Balance
Current increase (decrease)
Ending Balance
Principal Distributions/Allocations:
- ------------------------------------
Distribution - Current Period
Allocations - Current Period
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period
Interest Distributions/Allocations:
- -----------------------------------
Distribution - Current Period
Allocations - Current Period 70,611.11 114,652.78
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period 70,611.11 114,652.78
Due to Trust - Current Period:
- ------------------------------
Total Distribution Amount
Total Allocation Amount 70,611.11 114,652.78
--------- ----------
Total Due to Trust 70,611.11 114,652.78
--------- ----------
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 1997 for the Collection Period of August 1, through August 31, 1997
Final
Class A3 Class A3 Class B Class B
Percent Balance Percent Balance
-------- --------- -------- ---------
<S> <C> <C> <C> <C>
Certificate Interest Earned 13,034.38 13,846.88
- ---------------------------
Interest:
- ---------
Interest Collections
Prior Carryover Shortfall
Carryover Shortfall (Inc) Dec
Total Carryover Shortfall
Servicers Fee
Capped and Uncapped Expenses
Non-recoverable Advances
B Certificate Interest Subordinated Inc (Dec)
B Certificate Principal Subordinated Inc (Dec)
Total Interest Available
Interest on Carryover Shortfall
Interest on Certificate Principal Loss Amount
--------- ---------
Interest Distributed/Allocated 13,034.38 13,846.88
--------- ---------
Principal: (Revolving Period memo only)
- ---------------------------------------
Principal Collections
Liquidated Contracts
Accelerated Principal Distribution Amount
Carryover Shortfall
Prior Carryover Shortfall
Total Carryover Shortfall
B Certificate Principal Subordinated Inc (Dec)
Total Principal Distribution
Certificate Principal Loss Amounts:
- -----------------------------------
Previous Certificate Principal Loss Amount
Current Certificate Principal Loss Amount
Reimbursed Certificate Principal Loss Amount
Ending Certificate Principal Loss Amount
Class B Principal Subordinated:
- -------------------------------
Beginning Balance
Current increase (decrease)
Ending Balance
Class B Interest Subordinated:
- ------------------------------
Beginning Balance
Current increase (decrease)
Ending Balance
Principal Distributions/Allocations:
- ------------------------------------
Distribution - Current Period
Allocations - Current Period
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period
Interest Distributions/Allocations:
- -----------------------------------
Distribution - Current Period
Allocations - Current Period 13,034.38 13,846.88
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period 13,034.38 13,846.88
Due to Trust - Current Period:
- ------------------------------
Total Distribution Amount
Total Allocation Amount 13,034.38 13,846.88
--------- ---------
Total Due to Trust 13,034.38 13,846.88
--------- ---------
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 1997 for the Collection Period of August 1, through August 31, 1997
Final
Transferor Interest
-------------------------
Percent Balance
------- -------------
<S> <C> <C>
Certificate Interest Earned
- ---------------------------
Interest:
- ---------
Interest Collections 2.00%
Prior Carryover Shortfall
Carryover Shortfall (Inc) Dec
Total Carryover Shortfall
Servicers Fee
Capped and Uncapped Expenses
Non-recoverable Advances
B Certificate Interest Subordinated Inc (Dec)
B Certificate Principal Subordinated Inc (Dec)
Total Interest Available
Interest on Carryover Shortfall
Interest on Certificate Principal Loss Amount
------------
Interest Distributed/Allocated 8,484,219.50
------------
Principal: (Revolving Period memo only)
- ---------------------------------------
Principal Collections
Liquidated Contracts
Accelerated Principal Distribution Amount
Carryover Shortfall (Inc) Dec
Prior Carryover Shortfall
Total Carryover Shortfall
B Certificate Principal Subordinated Inc (Dec)
Total Principal Distribution
Certificate Principal Loss Amounts:
- -----------------------------------
Previous Certificate Principal Loss Amount
Current Certificate Principal Loss Amount 30,557.67
Reimbursed Certificate Principal Loss Amount
Ending Certificate Principal Loss Amount
Class B Principal Subordinated:
- -------------------------------
Beginning Balance
Current increase (decrease)
Ending Balance
Class B Interest Subordinated:
- ------------------------------
Beginning Balance
Current increase (decrease)
Ending Balance
Principal Distributions/Allocations:
- ------------------------------------
Distribution - Current Period
Allocations - Current Period
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period
Interest Distributions/Allocations:
- -----------------------------------
Distribution - Current Period 8,514,777.17
Allocations - Current Period
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period
Due to Trust - Current Period:
- ------------------------------
Total Distribution Amount 8,514,777.17
Total Allocation Amount -
------------
Total Due to Trust 8,514,777.17
------------
/S/ SYLVIA SHULER
- -----------------------------
Sylvia Shuler
Controller-Operations
</TABLE>
<PAGE>
<TABLE>
Exhibit 20 (b)
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 27, 1997 for the Collection Period of September 1, through September 30, 1997
Certificate Balance
-----------------------------
Total Percent Balance
----- ------- ----------------
<S> <C> <C> <C>
Original Deal Parameter
- -----------------------
Discounted Principal Balance 1,231,231,519.20
Aggregate Net Investment Value (ANIV) 1,231,231,519.20
Initial Certificate Balance 100.00% 1,206,600,000.00
Percent of ANIV 98.00%
Certificate Factor 1.0000000
Certificate Rate
Weighted Average Coupon (WAC) 7.66%
Weighted Average Remaining Term (WAM) 35.8
Servicing Fee Percentage 1.00%
Servicer Advance 2,825,418.78
Servicer Payahead 1,580,862.05
Reserve Fund:
Initial Deposit Amount 30,780,787.98
Specified Reserve Fund Percentage 2.50%
Specified Reserve Fund Amount 30,780,787.98
Trigger Percentage 5.00%
Trigger Amount 61,561,575.96
Input from Prior Monthly Servicer's Certificate
- -----------------------------------------------
Discounted Principal Balance 1,217,716,677.65
Aggregate Net Investment Value 1,231,231,519.20
Certificate Balance 1,206,600,000.00
Adjusted Certificate Balance 1,206,600,000.00
Percent of ANIV 98.00%
Certificate Factor 1.0000000
Servicer Advances 3,316,515.38
Servicer Pay Ahead Balance 1,371,766.67
Maturity Advances Outstanding -
Cumulative Credit Losses to Date (30,557.67)
Cumulative Reimbursed Credit Loss (30,557.67)
Cumulative Residual Value Gain (Loss) -
Cumulative Reimbursed Residual Value Losses -
Certificate Principal Loss Amount -
Number of Current Contracts 56,141
Weighted Average Coupon (WAC) 7.65%
Weighted Average Remaining Term (WAM) 34.79
End of Period Balances
- ----------------------
Discounted Principal Balance 1,231,230,122.49
Aggregate Investment Value 1,231,231,519.20
Certificate Balance
Adjusted Certificate Balance
Percent of ANIV
Certificate Factor
Servicer Advances 3,290,535.49
Servicer Pay Ahead Balance 2,662,319.58
Cumulative Credit Losses to Date 225,092.45
Cumulative Reimbursed Credit Loss 225,092.45
Cumulative Residual Value Gain (Loss) -
Cumulative Reimbursed Residual Value Losses -
Certificate Principal Loss Amount -
Maturity Advances Outstanding -
Number of Current Contracts 57,144
Weighted Average Coupon (WAC) 7.65%
Weighted Average Remaining Term (WAM) 33.88
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 27, 1997 for the Collection Period of September 1, through September 30, 1997
Class A1 Class A1 Class A2 Class A2
Percent Balance Percent Balance
--------- ------------- --------- --------------
<S> <C> <C> <C> <C>
Original Deal Parameter
- -----------------------
Discounted Principal Balance
Aggregate Net Investment Value (ANIV)
Initial Certificate Balance 33.98% 410,000,000.00 53.87% 650,000,000.00
Percent of ANIV 33.30% 52.79%
Certificate Factor 1.0000000 1.0000000
Certificate Rate 6.20% 6.35%
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
Servicing Fee Percentage
Servicer Advance
Servicer Payahead
Reserve Fund:
Initial Deposit Amount
Specified Reserve Fund Percentage
Specified Reserve Fund Amount
Trigger Percentage
Trigger Amount
Input from Prior Monthly Servicer's Certificate
- -----------------------------------------------
Discounted Principal Balance
Aggregate Net Investment Value
Certificate Balance 410,000,000.00 650,000,000.00
Adjusted Certificate Balance 410,000,000.00 650,000,000.00
Percent of ANIV 33.30% 52.79%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
End of Period Balances:
- ----------------------
Discounted Principal Balance
Aggregate Investment Value
Certificate Balance 410,000,000.00 650,000,000.00
Adjusted Certificate Balance 410,000,000.00 650,000,000.00
Percent of ANIV 33.30% 52.79%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 27, 1997 for the Collection Period of September 1, through September 30, 1997
Class A3 Class A3 Class B Class B
Percent Balance Percent Balance
-------- ------------- ------- -------------
<S> <C> <C> <C> <C>
Original Deal Parameter
- -----------------------
Discounted Principal Balance
Aggregate Net Investment Value (ANIV)
Initial Certificate Balance 6.03% 72,750,000.00 6.12% 73,850,000.00
Percent of ANIV 5.91% 6.00%
Certificate Factor 1.0000000 1.0000000
Certificate Rate 6.45% 6.75%
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
Servicing Fee Percentage
Servicer Advance
Servicer Payahead
Reserve Fund:
Initial Deposit Amount
Specified Reserve Fund Percentage
Specified Reserve Fund Amount
Trigger Percentage
Trigger Amount
Input from Prior Monthly Servicer's Certificate
- -----------------------------------------------
Discounted Principal Balance
Aggregate Net Investment Value
Certificate Balance 72,750,000.00 73,850,000.00
Adjusted Certificate Balance 72,750,000.00 73,850,000.00
Percent of ANIV 5.91% 6.00%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
End of Period Balances:
- ----------------------
Discounted Principal Balance
Aggregate Investment Value
Certificate Balance 72,750,000.00 73,850,000.00
Adjusted Certificate Balance 72,750,000.00 73,850,000.00
Percent of ANIV 5.91% 6.00%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 27, 1997 for the Collection Period of September 1, through September 30, 1997
Transferor Interest
Balance
-------------------
<S> <C>
Original Deal Parameter
- -----------------------
Discounted Principal Balance
Aggregate Net Investment Value (ANIV)
Initial Certificate Balance 24,631,519.20
Percent of ANIV 2.00%
Certificate Factor
Certificate Rate
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
Servicing Fee Percentage
Servicer Advance
Servicer Payahead
Reserve Fund:
Initial Deposit Amount
Specified Reserve Fund Percentage
Specified Reserve Fund Amount
Trigger Percentage
Trigger Amount
Input from Prior Monthly Servicer's Certificate
- -----------------------------------------------
Discounted Principal Balance
Aggregate Net Investment Value
Certificate Balance 24,631,519.20
Adjusted Certificate Balance 24,631,519.20
Percent of ANIV 2.00%
Certificate Factor
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
End of Period Balances:
- ----------------------
Discounted Principal Balance
Aggregate Investment Value
Certificate Balance 24,631,519.20
Adjusted Certificate Balance 24,631,519.20
Percent of ANIV 2.00%
Certificate Factor
Servicer Advances
Servicer Pay Ahead Balance
Cumulative Credit Losses to Date
Cumulative Reimbursed Credit Loss
Cumulative Residual Value Gain (Loss)
Cumulative Reimbursed Residual Value Losses
Certificate Principal Loss Amount
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Coupon (WAC)
Weighted Average Remaining Term (WAM)
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 27, 1997 for the Collection Period of September 1, through September 30, 1997
<S> <C> <C> <C> <C>
Currently Monthly Collection Activity
- -------------------------------------
Principal Collections 8,966,716.56
Prepayments in Full - Number 119
Prepayments in Full - Amount 2,611,650.66
Reallocation - Number of Leases 35
Reallocation Payment 885,214.03
Interest Collections 9,052,073.82
Net Liquidation Proceeds - Credit Losses 1,683,093.94
Non-recoverable Advances (39,994.13)
Increase (Decrease) in Maturity Advances -
Net Liquidation Proceeds - Vehicle Sales -
Reimbursed Certificate Principal Losses -
Net Investment Income -
-------------
Total Available 23,158,754.88
Increase (Decrease) in Sevicer Advances (25,979.89)
(Increase) Decrease in PayAheads Held (1,290,552.91)
ANIV
Current Monthly Operational Activity Vehicles Balance
- ------------------------------------ -------- ------------
Inventory on Hand:
Matured Lease Vehicle Inventory 0
Repossed Vehicle Inventory 131 2,887,551.64
-------- ------------
Total Inventory on Hand 131 2,887,551.64
======== ============
Residual Value Gain (Loss):
Matured Lease Vehicle Inventory Sold -
Net Liquidation Proceeds -
Net Residual Value Gain (Loss) -
Cumulative Residual Value Gain (Loss) all periods -
Liquidation of ChargeOffs and Repossessions:
Liquidated Contracts 90
Discounted Principal Balance 1,938,744.06
Net Liquidation Proceeds (1,683,093.94)
Recoveries - Previously Liquidated Contracts
Aggregate Credit Losses for the Collection Period 255,650.12
Cumulative Credit Losses for all Periods 225,092.45
Repossessed in Current Period 96
Accounts Percent ANIV Percent
Delinquent Contracts: -------- ------- ------------- -------
31-60 Days Delinquent 576 1.01% 12,943,045.78 1.05%
61-90 Days Delinquent 45 0.08% 974,803.24 0.08%
Over 90 Days Delinquent 11 0.02% 299,901.09 0.02%
-------- ------- ------------- -------
Total Delinquencies 632 1.11% 14,217,750.11 1.15%
======== ======= ============= =======
Amount
-------------
Beginning Unreinvested Principal Collections 13,514,841.84
Current Month Principal Collections 14,402,325.31
-------------
Total Available 27,917,167.15
Allocation to Subsequent Contracts and Lease Vehicles 27,915,770.15
=============
Ending Unreinvested Principal Collections 1,247 1,397.00
=============
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 27, 1997 for the Collection Period of September 1, through September 30, 1997
Annual
Amount Amount
------------- -------------
<S> <C> <C> <C> <C>
Capped and Uncapped Expenses:
Capped Contingent and Excess Liability Premiums 13,530.52 27,061.04
Capped Titling Trust Administration Expenses 1,250.00 2,500.00
Capped Securitization Trust Administration Expenses 833.33 1,666.66
Uncapped Titling Trust Administration Expenses
Uncapped Securitization Trust Administration Expenses
--------- ---------
Total Capped and Uncapped Expenses 15,613.85 31,227.70
Paid Expenses 15,613.85 31,227.70
Previous Unpaid Balance
Current Unpaid Balance
Servicers Fee Due:
Due from Previous Periods
Due for this Period 1,026,026.27
Paid this Period (1,026,026.27)
Service Fee Balance Due -
Supplemental Servicer's Fees 82,345.86
Number Scheduled Sale Average
Matured Vehicles Sold for Sold Maturities Ratio Loss
each Collection Period: ------------ ------------- -------------- -------
Second Preceding Collection Period
First Preceding Collection Period
Current Collection Period
Three Month Average
Annualized
Average
Charge-Off
Rate
Ratio of Net Credit Losses to the Average Pool ---------------
Balance for Each Collection Period:
Second Preceeding Collection Period
First Preceeding Collection Period (0.03%)
Current Collection Period 0.25%
Three Month Average 0.07%
Ratio of Number of Contracts Delinquent 60 Days or
More to the Outstanding Number of Receivables as of
Each Collection Period (Includes Repossessions):
Second Preceding Collection Period
First Preceding Collection Period 0.09%
Current Collection Period 0.10%
Three Month Average 0.06%
Class B Class A Total
Reserve Fund: Amount Amount Amount
Beginning Balance 1,227,656.25 29,553,131.73 30,780,787.98
Withdrawal Amount
Transferor Excess
------------ ------------- -------------
Ending Balance 1,227,656.25 29,553,131.73 30,780,787.98
Specified Reserve Fund Balance 1,227,656.25 29,553,131.73 30,780,787.98
------------ ------------- -------------
Release to Transferor
Cumulative Withdrawal Amount
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 27, 1997 for the Collection Period of September 1, through September 30, 1997
Certificate Balance
----------------------------
Total Percent Balance
------------- ------- -----------------
<S> <C> <C> <C>
Certificate Interest Earned 6,364,354.17
Interest:
Interest Collections 9,052,073.82 98.00%
Prior Carryover Shortfall -
Carryover Shortfall (Inc) Dec -
Total Carryover Shortfall -
Servicers Fee (1,026,026.27)
Capped and Uncapped Expenses (15,613.85)
Non-recoverable Advances (39,994.13)
B Certificate Interest Subordinated Inc (Dec) -
B Certificate Principal Subordinated Inc (Dec) -
------------
Total Interest Available 7,970,439.57
------------
Interest on Carryover Shortfall -
Interest on Certificate Principal Loss Amount -
------------ ------------
Interest Distributed/Allocated 7,970,430.57 6,364,354.17
------------ ------------
Principal: (Revolving Period memo only)
Principal Collections 12,463,581.25
Liquidated Contracts 1,938,744.06
Accelerated Principal Distribution Amount -
Carryover Shortfall -
Prior Carryover Shortfall -
Total Carryover Shortfall -
B Certificate Principal Subordinated Inc (Dec) -
-------------
Total Principal Distribution 14,402,325.31
-------------
Certificate Principal Loss Amounts:
Previous Certificate Principal Loss Amount -
Current Certificate Principal Loss Amount 255,650.12
Reimbursed Certificate Principal Loss Amount (255,650.12)
Ending Certificate Principal Loss Amount -
Class B Principal Subordinated:
Beginning Balance -
Current increase (decrease)
Ending Balance
Class B Interest Subordinated:
Beginning Balance -
Current increase (decrease)
Ending Balance
Principal Distributions/Allocations:
Distribution - Current Period
Allocations - Current Period
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period
Interest Distributions/Allocations:
Distribution - Current Period 1,350,435.29
Allocations - Current Period 6,364,354.17 6,364,354.17
Allocations - Not Disbursed Beginning of Period 212,145.14 212,145.14
Allocations - Not Disbursed End of Period 6,576,499.31 6,576,499.31
Due To Trust - Current Period:
Total Distribution Amount 1,350,435.29
Total Allocation Amount 6,364,354.17 6,364,354.17
Beginning Balance Uninvested Principal Collections
Ending Balance Uninvested Principal Collections 1,397.00
------------ ------------
Total Due To Trust 7,716,186.45 6,364,354.17
------------ ------------
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 27, 1997 for the Collection Period of September 1, through September 30, 1997
Class A1 Class A1 Class A2 Class A2
Percent Balance Percent Balance
-------- ------------ -------- ------------
<S> <C> <C> <C> <C>
Certificate Interest Earned 2,118,333.33 3,439,583.33
Interest:
Interest Collections
Prior Carryover Shortfall
Carryover Shortfall (Inc) Dec
Total Carryover Shortfall
Servicers Fee
Capped and Uncapped Expenses
Non-recoverable Advances
B Certificate Interest Subordinated Inc (Dec)
B Certificate Principal Subordinated Inc (Dec)
Total Interest Available
Interest on Carryover Shortfall
Interest on Certificate Principal Loss Amount
------------ ------------
Interest Distributed/Allocated 2,118,333.33 3,439,583.33
------------ ------------
Principal: (Revolving Period memo only)
Principal Collections
Liquidated Contracts
Accelerated Principal Distribution Amount
Carryover Shortfall
Prior Carryover Shortfall
Total Carryover Shortfall
B Certificate Principal Subordinated Inc (Dec)
Total Principal Distribution
Certificate Principal Loss Amounts:
Previous Certificate Principal Loss Amount
Current Certificate Principal Loss Amount
Reimbursed Certificate Principal Loss Amount
Ending Certificate Principal Loss Amount
Class B Principal Subordinated:
Beginning Balance
Current increase (decrease)
Ending Balance
Class B Interest Subordinated:
Beginning Balance
Current increase (decrease)
Ending Balance
Principal Distributions/Allocations:
Distribution - Current Period
Allocations - Current Period
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period
Interest Distributions/Allocations:
Distribution - Current Period
Allocations - Current Period 2,118,333.33 3,439,583.33
Allocations - Not Disbursed Beginning of Period 70,611.11 114,652.78
Allocations - Not Disbursed End of Period 2,188,944.44 3,554,236.11
Due To Trust - Current Period:
Total Distribution Amount - -
Total Allocation Amount 2,118,333.33 3,439,583.33
Beginning Balance Uninvested Principal Collections
Ending Balance Uninvested Principal Collections
------------ ------------
Total Due To Trust 2,118,333.33 3,439,583.33
------------ ------------
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 27, 1997 for the Collection Period of September 1, through September 30, 1997
Class A3 Class A3 Class B Class B
Percent Balance Percent Balance
-------- ---------- ------- ----------
<S> <C> <C> <C> <C>
Certificate Interest Earned 391,031.25 415,406.25
Interest:
Interest Collections
Prior Carryover Shortfall
Carryover Shortfall (Inc) Dec
Total Carryover Shortfall
Servicers Fee
Capped and Uncapped Expenses
Non-recoverable Advances
B Certificate Interest Subordinated Inc (Dec)
B Certificate Principal Subordinated Inc (Dec)
Total Interest Available
Interest on Carryover Shortfall
Interest on Certificate Principal Loss Amount
---------- ----------
Interest Distributed/Allocated 391,031.25 415,406.25
---------- ----------
Principal: (Revolving Period memo only)
Principal Collections
Liquidated Contracts
Accelerated Principal Distribution Amount
Carryover Shortfall
Prior Carryover Shortfall
Total Carryover Shortfall
B Certificate Principal Subordinated Inc (Dec)
Total Principal Distribution
Certificate Principal Loss Amounts:
Previous Certificate Principal Loss Amount
Current Certificate Principal Loss Amount
Reimbursed Certificate Principal Loss Amount
Ending Certificate Principal Loss Amount
Class B Principal Subordinated:
Beginning Balance
Current increase (decrease)
Ending Balance
Class B Interest Subordinated:
Beginning Balance
Current increase (decrease)
Ending Balance
Principal Distributions/Allocations:
Distribution - Current Period
Allocations - Current Period
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period
Interest Distributions/Allocations:
Distribution - Current Period
Allocations - Current Period 391,031.25 415,406.25
Allocations - Not Disbursed Beginning of Period 13,034.38 13,846.88
Allocations - Not Disbursed End of Period 404,065.63 429,253.13
Due To Trust - Current Period:
Total Distribution Amount - -
Total Allocation Amount 391,031.25 415,406.25
Beginning Balance Uninvested Principal Collections
Ending Balance Uninvested Principal Collections
---------- ----------
Total Due To Trust 391,031.25 415,406.25
---------- ----------
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 27, 1997 for the Collection Period of September 1, through September 30, 1997
Transferor Interest
----------------------------
Percent Balance
------- ------------
<S> <C> <C>
Certificate Interest Earned
Interest:
Interest Collections 2.00%
Prior Carryover Shortfall
Carryover Shortfall (Inc) Dec
Total Carryover Shortfall
Servicers Fee
Capped and Uncapped Expenses
Non-recoverable Advances
B Certificate Interest Subordinated Inc (Dec)
B Certificate Principal Subordinated Inc (Dec)
Total Interest Available
Interest on Carryover Shortfall
Interest on Certificate Principal Loss Amount
------------
Interest Distributed/Allocated 1,606,085.41
------------
Principal: (Revolving Period memo only)
Principal Collections
Liquidated Contracts
Accelerated Principal Distribution Amount
Carryover Shortfall
Prior Carryover Shortfall
Total Carryover Shortfall
B Certificate Principal Subordinated Inc (Dec)
Total Principal Distribution
Certificate Principal Loss Amounts:
Previous Certificate Principal Loss Amount (255,650.12)
Current Certificate Principal Loss Amount
Reimbursed Certificate Principal Loss Amount
Ending Certificate Principal Loss Amount
Class B Principal Subordinated:
Beginning Balance
Current increase (decrease)
Ending Balance
Class B Interest Subordinated:
Beginning Balance
Current increase (decrease)
Ending Balance
Principal Distributions/Allocations:
Distribution - Current Period
Allocations - Current Period
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period
Interest Distributions/Allocations:
Distribution - Current Period 1,350,435.29
Allocations - Current Period -
Allocations - Not Disbursed Beginning of Period -
Allocations - Not Disbursed End of Period -
Due To Trust - Current Period:
Total Distribution Amount 1,350,435.29
Total Allocation Amount -
Beginning Balance Uninvested Principal Collections
Ending Balance Uninvested Principal Collections
------------
Total Due To Trust 1,350,435.29
------------
/S/ SYLVIA SHULER
- -----------------------------
Sylvia Shuler
Controller-Operations
</TABLE>
