<PAGE>
EXHIBIT 20
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of July 25, 2000 for the Collection Period of June 1, 2000
through June 30, 2000
<TABLE>
<S> <C> <C> <C>
POOL DATA - ORIGINAL DEAL PARAMETERS
Aggregate Net Investment Value (ANIV) 1,231,231,519.20
Discounted Principal Balance 1,231,231,519.20
Servicer Advance 2,825,418.78
Servicer Payahead 1,580,862.05
Number of Contracts 56,340
Weighted Average Lease Rate 7.66%
Weighted Average Remaining Term 35.8
Servicing Fee Percentage 1.00%
POOL DATA - CURRENT MONTH
Aggregate Net Investment Value 388,936,000.54
Discounted Principal Balance 327,312,933.67
Servicer Advances 2,095,327.01
Servicer Pay Ahead Balance 4,762,089.75
Maturity Advances Outstanding -
Number of Current Contracts 22,692
Weighted Average Lease Rate 7.84%
Weighted Average Remaining Term 7.9
-------------------------------------------------------------------------------------------------------------------
RESERVE FUND:
Initial Deposit Amount 30,780,787.98
Specified Reserve Fund Percentage 4.425%
Specified Reserve Fund Amount 54,481,994.72
Class A Class B Total
Amount Amount Amount
------------- ------------ -------------
Beginning Balance 46,328,693.95 1,227,656.25 47,556,350.20
Withdrawal Amount 4,372,103.44 - 4,372,103.44
Cash Capital Contribution - -
Transferor Excess 1,028,791.36 - 1,028,791.36
------------------------------------------------------
Reserve Fund Balance Prior to Release 42,985,381.87 1,227,656.25 44,213,038.12
Specified Reserve Fund Balance 53,254,338.47 1,227,656.25 54,481,994.72
------------------------------------------------------
Release to Transferor - - -
Ending Reserve Fund Balance 42,985,381.87 1,227,656.25 44,213,038.12
Prior Cumulative Withdrawal Amount 17,327,413.03 - 17,327,413.03
Cumulative Withdrawal Amount 21,699,516.47 - 21,699,516.47
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
LIQUIDATION OF CHARGE-OFFS AND REPOSSESSIONS: VEHICLES
Liquidated Contracts 83
Discounted Principal Balance 1,403,915.97
Net Liquidation Proceeds (1,117,613.23)
Recoveries - Previously Liquidated Contracts (183,936.07)
-------------------
Aggregate Credit Losses for the Collection Per 102,366.67
===================
Cumulative Credit Losses for all Periods 17,050,654.23
===================
Repossessed in Current Period 31
RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE Annualized Average
FOR EACH COLLECTION PERIOD: Charge-Off Rate
Second Preceding Collection Period 0.54%
First Preceding Collection Period 0.58%
Current Collection Period 0.29%
-------------------------------------------------------------------------------------------------------------------
CONDITION (i)i (CHARGE-OFF RATE)
Three Month Average 0.47%
Charge-off Rate Indicator ( > 1.25%) CONDITION NOT MET
-------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
DELINQUENT CONTRACTS: Percent Accounts Percent Aniv
------- -------- ------- ----
<S> <C> <C> <C> <C> <C> <C>
31-60 Days Delinquent 4.82% 1094 4.59% 17,845,758.84
61-90 Days Delinquent 0.42% 96 0.37% 1,448,520.23
Over 90 Days Delinquent 0.06% 13 0.06% 220,743.84
-------- -------------
Total Delinquencies 1,203 19,515,022.91
======== =============
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 0.38%
First Preceding Collection Period 0.45%
Current Collection Period 0.48%
----------------------------------------------------------------------------------------------------------------------------------
CONDITION (ii) (DELINQUENCY PERCENTAGE)
Three Month Average 0.44%
Delinquency Percentage Indicator ( > 1.25%) CONDITION NOT MET
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
RESIDUAL VALUE (GAIN) LOSS: Vehicles
--------
Matured Lease Vehicle Inventory Sold 2730 43,063,717.12
Net Liquidation Proceeds (37,362,884.69)
-------------
Net Residual Value (Gain) Loss 5,700,832.43
=============
Cumulative Residual Value (Gain) Loss all periods 35,236,967.78
=============
Average Average
Number Scheduled Sale Net Liquidation Residual
Sold Maturities Ratio Proceeds Value
MATURED VEHICLES SOLD FOR ------ ---------- ----- --------------- --------
EACH COLLECTION PERIOD:
Second Preceding Collection Period 2,129 5,496 38.74% 13,791.30 15,610.59
First Preceding Collection Period 2,372 6,220 38.14% 13,636.84 15,704.39
Current Collection Period 2,730 6,681 40.86% 13,686.04 15,846.04
Three Month Average 13,700.89 15,730.25
---------
Ratio of Three Month Average Net Liquidation Proceeds to Average Residentual Value 87.10%
---------
----------------------------------------------------------------------------------------------------------------------------------
CURRENT PERIOD
CONDITION (iii) (RESIDUAL VALUE TEST) AMOUNT/RATIO TEST MET?
-------------- ---------
a) Number of Vehicles Sold > 25% of Scheduled Maturities 40.86% YES
b) Number of Scheduled Maturities > 500 6,681 YES
c) 3 Month Average Matured Leased Vehicle Proceeds less than 75% of Avg. Res 87.10% NO
Residual Value Indicator (condition met if tests a, b and c = YES) CONDITION NOT MET
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 1
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of July 25, 2000 for the Collection Period of June 1, 2000
through June 30, 2000
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Certificate Balance
-------------------
Total Percent Balance
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
INTEREST: 98.00%
Interest Collections 3,995,942.27
Net Investment Income 1,877,439.87
Non-recoverable Advances (245,546.28)
--------------
Available Interest 5,627,835.86 5,537,801.96
Class A1, A2, A3 Notional Interest Accrual Amount (3,830,614.58) (3,830,614.58)
Unreimbursed A1, A2, A3 Interest Shortfall - -
Interest Accrual for Adjusted Class B Certificate Bal. (415,406.25) (415,406.25)
Class B Interest Carryover Shortfall - -
Servicer's Fee (385,477.51) (376,223.54)
Capped Expenses (32,441.31) (31,662.51)
Interest Accrual on Class B. Cert. Prin. Loss Amt. - -
Uncapped Expenses - -
-------------- --------------
Total Unallocated Interest 963,896.21 883,895.08
Excess Interest to Transferor - (883,895.08)
-------------- --------------
Net Interest Collections Available 963,896.21 (0.00)
--------------
INTEREST COLLECTIONS ALLOCATED TO LOSSES: (5,663,884.57)
ACCELERATED PRINCIPAL DISTRIBUTION: -
DEPOSIT TO RESERVE FUND: 1,028,791.36
WITHDRAWAL FROM RESERVE FUND: 4,372,103.44
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN: 1,356,676.28
NET WITHDRAWAL FROM THE RESERVE FUND: 3,343,312.08
PRINCIPAL:
Current Loss Amount (5,803,199.10) (5,663,884.57)
Loss Reimbursement from Transferor 1,291,781.13 1,291,781.13
Loss Reimbursement from Reserve Fund 4,372,103.44 4,372,103.44
-------------- --------------
Total (139,314.53) -
CLASS A CERTIFICATE PRINCIPAL LOSS AMOUNTS
Beginning Balance -
Current increase (decrease) -
--------------
Ending Balance -
CLASS A INTEREST SUBORDINATED
Beginning Balance -
Current increase (decrease) -
--------------
Ending Balance -
CLASS B CERTIFICATE PRINCIPAL LOSS AMOUNTS
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 72,141,022.05 72,141,022.05
Allocations - Accelerated Principal Distribution - -
Allocations - Not Disbursed Beginning of Period 345,131,748.05 345,131,748.05
Allocations - Not Disbursed End of Period 417,272,770.10 417,272,770.10
INTEREST DISTRIBUTIONS/ALLOCATIONS:
Distribution - Current Period - -
Allocations - Current Period 4,246,020.83 4,246,020.83
Allocations - Not Disbursed Beginning of Period 12,738,062.49 12,738,062.49
Allocations - Not Disbursed End of Period 16,984,083.32 16,984,083.32
DUE TO TRUST - CURRENT PERIOD:
Total Deposit to/ (Withdrawal from) Reserve Fund (3,343,312.08) -
Due To Trust 74,509,603.01 74,509,603.01
-------------- --------------
Total Due To Trust 71,166,290.93 74,509,603.01
------------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Class A1 Class A2 Class A3 Class B
-------- -------- -------- -------
Balance Balance Balance Balance
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
INTEREST:
Interest Collections
Net Investment Income
Non-recoverable Advances
Available Interest - 4,518,668.43 505,743.27 513,390.25
Class A1, A2, A3 Notional Interest Accrual Amount - (3,439,583.33) (391,031.25)
Unreimbursed A1, A2, A3 Interest Shortfall - - -
Interest Accrual for Adjusted Class B Certificate Bal. (415,406.25)
Class B Interest Carryover Shortfall -
Servicer's Fee
Capped Expenses
Interest Accrual on Class B. Cert. Prin. Loss Amt. -
Uncapped Expenses
Total Unallocated Interest
Excess Interest to Transferor
Net Interest Collections Available
INTEREST COLLECTIONS ALLOCATED TO LOSSES:
ACCELERATED PRINCIPAL DISTRIBUTION:
DEPOSIT TO RESERVE FUND:
WITHDRAWAL FROM RESERVE FUND:
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN:
NET WITHDRAWAL FROM THE RESERVE FUND:
PRINCIPAL:
Current Loss Amount - (5,663,884.57) - -
Loss Reimbursement from Transferor - 1,291,781.13 - -
Loss Reimbursement from Reserve Fund - 4,372,103.44 - -
-------------- -------------- -------------- -------------
Total - - - -
CLASS A CERTIFICATE PRINCIPAL LOSS AMOUNTS
Beginning Balance
Current increase (decrease)
Ending Balance
CLASS A INTEREST SUBORDINATED
Beginning Balance
Current increase (decrease)
Ending Balance
CLASS B CERTIFICATE PRINCIPAL LOSS AMOUNTS
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 - 72,141,022.05 - -
Allocations - Accelerated Principal Distribution - - - -
Allocations - Not Disbursed Beginning of Period - 345,131,748.05 - -
Allocations - Not Disbursed End of Period - 417,272,770.10 - -
INTEREST DISTRIBUTIONS/ALLOCATIONS:
Distribution - Current Period - - - -
Allocations - Current Period - 3,439,583.33 391,031.25 415,406.25
Allocations - Not Disbursed Beginning of Period - 10,318,749.99 1,173,093.75 1,246,218.75
Allocations - Not Disbursed End of Period - 13,758,333.32 1,564,125.00 1,661,625.00
DUE TO TRUST - CURRENT PERIOD:
------------------------------
Total Deposit to/ (Withdrawal from) Reserve Fund
Due To Trust - 74,048,674.78 219,572.86 241,355.37
-------------- -------------- -------------- -------------
Total Due To Trust - 74,048,674.78 219,572.86 241,355.37
------------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Transferor Interest
-------------------
Interest Principal
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
INTEREST: 2.00%
Interest Collections
Net Investment Income
Non-recoverable Advances
Available Interest 90,033.90
Class A1, A2, A3 Notional Interest Accrual Amount
Unreimbursed A1, A2, A3 Interest Shortfall
Interest Accrual for Adjusted Class B Certificate Bal.
Class B Interest Carryover Shortfall
Servicer's Fee (9,253.97)
Capped Expenses (778.80)
Interest Accrual on Class B. Cert. Prin. Loss Amt.
Uncapped Expenses -
--------------
Total Unallocated Interest 80,001.13
Excess Interest to Transferor 883,895.08
--------------
Net Interest Collections Available 963,896.21
INTEREST COLLECTIONS ALLOCATED TO LOSSES: 5,663,884.57)
ACCELERATED PRINCIPAL DISTRIBUTION: -
--------------
DEPOSIT TO RESERVE FUND: (4,699,988.36)
--------------
WITHDRAWAL FROM RESERVE FUND:
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN:
NET WITHDRAWAL FROM THE RESERVE FUND:
PRINCIPAL:
Current Loss Amount (139,314.53)
Loss Reimbursement from Transferor (1,291,781.13)
Loss Reimbursement from Reserve Fund
--------------
Total (139,314.53)
CLASS A CERTIFICATE PRINCIPAL LOSS AMOUNTS
Beginning Balance
Current increase (decrease)
Ending Balance
CLASS A INTEREST SUBORDINATED
Beginning Balance
Current increase (decrease)
Ending Balance
CLASS B CERTIFICATE PRINCIPAL LOSS AMOUNTS
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 - Accelerated Principal Distribution
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period
INTEREST DISTRIBUTIONS/ALLOCATIONS:
Distribution - Current Period -
Allocations - Current Period
Allocations - Not Disbursed Beginning of Period
Allocations - Not Disbursed End of Period
DUE TO TRUST - CURRENT PERIOD:
Total Deposit to/ (Withdrawal from) Reserve Fund
Due To Trust - -
-------------- --------------
Total Due To Trust - -
------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of July 25, 2000 for the Collection Period of June 1, 2000
through June 30, 2000
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Certificate Balance Class A1
------------------- --------
Total Percent Balance Percent Balance
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV) 1,231,231,519.20
Discounted Principal Balance 1,231,231,519.20
Initial Notional/Certificate Balance - 100.00% 1,206,600,000.00 33.98% 410,000,000.00
Percent of ANIV 98.00% 33.30%
Certificate Factor 1.0000000 1.0000000
Notional/Certificate Rate 6.2000%
Target Maturity Date September 27, 1999
Servicer Advance 2,825,418.78
Servicer Payahead 1,580,862.05
Number of Contracts 56,340
Weighted Average Lease Rate 7.66%
Weighted Average Remaining Term 35.8
Servicing Fee Percentage 1.00%
POOL DATA PRIOR MONTH
Aggregate Net Investment Value 462,573,013.40
Discounted Principal Balance 405,464,279.97
Notional/Certificate Balance 796,600,000.00 -
Adjusted Notional/Certificate Balance 451,468,251.95 -
Percent of ANIV 97.60% 0.00%
Certificate Factor 1.0000000 -
Servicer Advances 2,359,149.98
Servicer Pay Ahead Balance 6,317,269.54
Maturity Advances Outstanding -
Number of Current Contracts 27,069
Weighted Average Lease Rate 7.78%
Weighted Average Remaining Term 7.6
POOL DATA CURRENT MONTH
Aggregate Net Investment Value 388,936,000.54
Discounted Principal Balance 327,312,933.67
Notional/Certificate Balance 796,600,000.00 0.00
Adjusted Notional/Certificate Balance 379,327,229.90 0.00
Percent of ANIV 97.53% 0.00%
Certificate Factor 1.0000000 -
Servicer Advances 2,095,327.01
Servicer Pay Ahead Balance 4,762,089.75
Maturity Advances Outstanding -
Number of Current Contracts 22,692
Weighted Average Lease Rate 7.84%
Weighted Average Remaining Term 7.9
Prior Certificate Interest Payment Date March 27, 2000
Next Certificate Interest Payment Date September 25, 2000
-------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Class A2 Class A3
-------- --------
Percent Balance Percent Balance
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV)
Discounted Principal Balance
Initial Notional/Certificate Balance 53.87% 650,000,000.00 6.03% 72,750,000.00
Percent of ANIV 52.79% 5.91%
Certificate Factor 1.0000000 1.0000000
Notional/Certificate Rate 6.3500% 6.4500%
Target Maturity Date September 25, 2000 March 26, 2001
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Remaining Term
Servicing Fee Percentage
POOL DATA PRIOR MONTH
Aggregate Net Investment Value
Discounted Principal Balance
Notional/Certificate Balance 650,000,000.00 72,750,000.00
Adjusted Notional/Certificate Balance 304,868,251.95 72,750,000.00
Percent of ANIV 65.91% 15.73%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding -
Number of Current Contracts
Weighted Average Lease Rate
Weighted Average Remaining Term
POOL DATA CURRENT MONTH
Aggregate Net Investment Value
Discounted Principal Balance
Notional/Certificate Balance 650,000,000.00 72,750,000.00
Adjusted Notional/Certificate Balance 232,727,229.90 72,750,000.00
Percent of ANIV 59.84% 18.70%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Lease Rate
Weighted Average Remaining Term
Prior Certificate Interest Payment Date
Next Certificate Interest Payment Date
-------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
-------------------------------------------------------------------------------------------------------------------------------
Class B Transferor Interest
------- -------------------
Percent Balance Balance
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV)
Discounted Principal Balance
Initial Notional/Certificate Balance 6.12% 73,850,000.00 24,631,519.20
Percent of ANIV 6.00% 2.00%
Certificate Factor 1.0000000
Notional/Certificate Rate 6.7500%
Target Maturity Date September 25, 2001
Servicer Advance
Servicer Payahead
Number of Contracts
Weighted Average Lease Rate
Weighted Average Remaining Term
Servicing Fee Percentage
POOL DATA PRIOR MONTH
Aggregate Net Investment Value
Discounted Principal Balance
Notional/Certificate Balance 73,850,000.00 11,104,761.45
Adjusted Notional/Certificate Balance 73,850,000.00 11,104,761.45
Percent of ANIV 15.97% 2.40%
Certificate Factor 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Lease Rate
Weighted Average Remaining Term
POOL DATA CURRENT MONTH
Aggregate Net Investment Value
Discounted Principal Balance
Notional/Certificate Balance 73,850,000.00 9,608,770.64
Adjusted Notional/Certificate Balance 73,850,000.00 9,608,770.64
Percent of ANIV 18.99% 2.47%
Certificate Factor 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Maturity Advances Outstanding
Number of Current Contracts
Weighted Average Lease Rate
Weighted Average Remaining Term
Prior Certificate Interest Payment Date
Next Certificate Interest Payment Date
-------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------
CURRENT MONTH COLLECTION ACTIVITY VEHICLES
--------------------------------- --------
<S> <C> <C>
Principal Collections 4,516,382.21
Prepayments in Full 1519 23,906,959.43
----
Reallocation Payment 45 746,038.13
--
Interest Collections 3,995,942.27
Net Liquidation Proceeds and Recoveries 1,301,549.30
Net Liquidation Proceeds - Vehicle Sales 37,362,884.69
Non-Recoverable Advances (245,546.28)
-------------
Total Available 71,584,209.75
------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
CAPPED AND UNCAPPED EXPENSES: Amount Annual Amount
---------- -------------
<S> <C> <C>
Total Capped Expenses Paid 32,441.31 194,647.86
Total Uncapped Expenses Paid - -
Capped and Uncapped Expenses Due - -
SERVICER'S FEE DUE:
Servicer's Fee Shortfall Carryforward -
Servicer's Fee Due Current Period 385,477.51
Servicer's Fee Paid 385,477.51
Servicer's Fee Balance Due -
SUPPLEMENTAL SERVICER'S FEES 55,418.68
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
REVOLVING PERIOD: VEHICLES AMOUNT
----------------- -------- ------
Beginning Unreinvested Principal Collections -
Principal Collections & Liquidated Contracts -
Allocation to Subsequent Contracts 0 -
-
------
Ending Unreinvested Principal Collections -
--------------------------------------------------------------------------------------------------------------
</TABLE>
I hereby certify to the best of my knowledge that the report provided is true
and correct.
/s/ HOLLY PEARSON
---------------------------------------
Holly Pearson, Treasury Manager
Page 3
