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Previous: TOYOTA AUTO LEASE TRUST 1997-A, 8-K, 2000-11-30 |
Next: GE INSTITUTIONAL FUNDS, 485APOS, 2000-11-30 |
<PAGE>
EXHIBIT 20
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of November 27, 2000 for the Collection Period of
October 1, 2000 through October 31, 2000
<TABLE>
<S> <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 199,559,707.81
Discounted Principal Balance 192,045,920.72
Servicer Advances 1,241,834.49
Servicer Pay Ahead Balance 2,949,874.81
Maturity Advances Outstanding 47,328,063.60
Number of Current Contracts 11,718
Weighted Average Lease Rate 8.21%
Weighted Average Remaining Term 9.8
</TABLE>
<TABLE>
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
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 30,832,786.95 1,227,656.25 32,060,443.20
Withdrawal Amount 584,500.54 - 584,500.54
Cash Capital Contribution - -
Transferor Excess 135,734.47 135,734.47
---------------------------------------------------------------------
Reserve Fund Balance Prior to Release 30,384,020.88 1,227,656.25 31,611,677.13
Specified Reserve Fund Balance 53,254,338.47 1,227,656.25 54,481,994.72
---------------------------------------------------------------------
Release to Transferor - - -
Ending Reserve Fund Balance 30,384,020.88 1,227,656.25 31,611,677.13
Prior Cumulative Withdrawal Amount 36,269,497.35 - 36,269,497.35
Cumulative Withdrawal Amount * 36,853,997.89 - 36,853,997.89
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
LIQUIDATION OF CHARGE-OFFS AND REPOSSESSIONS: VEHICLES
Liquidated Contracts 65
Discounted Principal Balance 1,036,132.78
Net Liquidation Proceeds (764,057.87)
Recoveries - Previously Liquidated Contracts (329,358.12)
--------------------
Aggregate Credit Losses for the Collection Period (57,283.21)
====================
Cumulative Credit Losses for all Periods 17,908,828.58
====================
Repossessed in Current Period 34
RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE Annualized Average
FOR EACH COLLECTION PERIOD: Charge-Off Rate
Second Preceding Collection Period 2.75%
First Preceding Collection Period -0.07%
Current Collection Period -0.33%
---------------------------------------------------------------------------------------------------------------------------------
CONDITION (i)i (CHARGE-OFF RATE)
Three Month Average 0.78%
Charge-off Rate Indicator ( > 1.25%) CONDITION NOT MET
---------------------------------------------------------------------------------------------------------------------------------
*Revised
</TABLE>
<TABLE>
---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
DELINQUENT CONTRACTS: PERCENT ACCOUNTS PERCENT ANIV
------- -------- ------- ----
31-60 Days Delinquent 3.28% 384 3.28% 6,553,554.59
61-90 Days Delinquent 0.51% 60 0.52% 1,031,709.11
Over 90 Days Delinquent 0.08% 9 0.08% 157,845.51
---------- ---------------
Total Delinquencies 453 7,743,109.21
========== ===============
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 1.09%
First Preceding Collection Period 0.89%
Current Collection Period 0.59%
---------------------------------------------------------------------------------------------------------------------------------
CONDITION (ii) (DELINQUENCY PERCENTAGE)
Three Month Average 0.86%
Delinquency Percentage Indicator ( > 1.25%) CONDITION NOT MET
---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
RESIDUAL VALUE (GAIN) LOSS: VEHICLES
Matured Lease Vehicle Inventory Sold 495 8,383,713.80
Net Liquidation Proceeds (7,255,538.82)
-----------------
Net Residual Value (Gain) Loss 1,128,174.98
=================
Cumulative Residual Value (Gain) Loss all periods 52,449,689.63
=================
AVERAGE AVERAGE
NUMBER SCHEDULED SALE NET LIQUIDATION RESIDUAL
MATURED VEHICLES SOLD FOR SOLD MATURITIES RATIO PROCEEDS VALUE
EACH COLLECTION PERIOD: ------ ---------- ----- --------------- --------
Second Preceding Collection Period 3,015 4,594 65.63% 13,996.23 16,209.72
First Preceding Collection Period 1,832 82 100.00% 14,568.48 16,976.06
Current Collection Period 495 62 100.00% 14,657.65 17,287.61
Three Month Average 14,253.77 16,572.41
-----------------
Ratio of Three Month Average Net Liquidation 86.01%
Proceeds to Average Residual Value -----------------
----------------------------------------------------------------------------------------------------------------------------------
CURRENT PERIOD
CONDITION (iii) (RESIDUAL VALUE TEST) AMOUNT/RATIO TEST MET?
------------ ---------
a) Number of Vehicles Sold > 25% of Scheduled Maturities 100.00% YES
b) Number of Scheduled Maturities > 500 62 NO
c) 3 Month Average Matured Leased Vehicle Proceeds 86.01% NO
less than 75% of Avg. Residual Values
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 November 27, 2000 for the Collection Period of
October 1, 2000 through October 31, 2000
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
CERTIFICATE BALANCE CLASS A1 CLASS A2
------------------- -------- --------
TOTAL PERCENT BALANCE BALANCE BALANCE
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
INTEREST: 98.00%
Interest Collections 1,386,231.17
Net Investment Income 4,371.61
Non-recoverable Advances (88,913.35)
--------------
Available Interest 1,301,689.43 1,250,921.64 - -
Class A1, A2, A3 Notional Interest Accrual Amount (391,031.25) (391,031.25) - -
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 (179,566.09) (172,539.15)
Capped Expenses (32,441.31) (31,171.79)
Interest Accrual on Class B. Cert. Prin. Loss Amt. - -
Uncapped Expenses - -
-------------- -------------
Total Unallocated Interest 283,244.53 240,773.20
Excess Interest to Transferor - (240,773.20)
-------------- -------------
Net Interest Collections Available 283,244.53 -
--------------
LOSSES ALLOCABLE TO INVESTOR CERTIFICATES: (1,028,984.68)
ACCELERATED PRINCIPAL DISTRIBUTION: -
DEPOSIT TO RESERVE FUND: 135,734.47
WITHDRAWAL FROM RESERVE FUND: 584,500.54
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN: 296,974.08
NET WITHDRAWAL FROM THE RESERVE FUND: 448,766.07
PRINCIPAL:
Current Loss Amount (1,070,891.77) (1,028,984.68) - -
Loss Reimbursement from Transferor 444,484.14 444,484.14 - -
Loss Reimbursement from Reserve Fund 584,500.54 584,500.54 - -
-------------- ------------- ------------ ------------
Total (41,907.09) - - -
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 15,580,714.48 - - -
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 806,437.50 806,437.50 - -
Allocations - Not Disbursed Beginning of Period 806,437.50 806,437.50 - -
Allocations - Not Disbursed End of Period 1,612,875.00 1,612,875.00 - -
DUE TO TRUST - CURRENT PERIOD: -
Total Deposit to/ (Withdrawal from) Reserve Fund (448,766.07)
Due To Trust 16,382,780.37 802,065.89 - -
-------------- ------------- ---------- ------------
Total Due To Trust 15,934,014.30 802,065.89 - -
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
CLASS A3 CLASS B TRANSFEROR INTEREST
-------- ------- -------------------
BALANCE BALANCE INTEREST PRINCIPAL
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
INTEREST: 2.00%
Interest Collections
Net Investment Income
Non-recoverable Advances
Available Interest 620,767.73 630,153.91 50,767.79
Class A1, A2, A3 Notional Interest Accrual Amount (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 (7,026.94)
Capped Expenses (1,269.52)
Interest Accrual on Class B. Cert. Prin. Loss Amt. -
Uncapped Expenses -
--------------
Total Unallocated Interest 42,471.33
Excess Interest to Transferor 240,773.20
--------------
Net Interest Collections Available 283,244.53
(1,028,984.68)
LOSSES ALLOCABLE TO INVESTOR CERTIFICATES: -
ACCELERATED PRINCIPAL DISTRIBUTION: --------------
DEPOSIT TO RESERVE FUND: (745,740.15)
WITHDRAWAL FROM RESERVE FUND: --------------
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN:
NET WITHDRAWAL FROM THE RESERVE FUND:
PRINCIPAL:
Current Loss Amount (1,028,984.68) - (41,907.09)
Loss Reimbursement from Transferor 444,484.14 - (444,484.14)
Loss Reimbursement from Reserve Fund 584,500.54 -
-------------- ------------ ---------------
Total - - (41,907.09)
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 - - 15,580,714.48
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 391,031.25 415,406.25
Allocations - Not Disbursed Beginning of Period 391,031.25 415,406.25
Allocations - Not Disbursed End of Period 782,062.50 830,812.50
DUE TO TRUST - CURRENT PERIOD:
Total Deposit to/ (Withdrawal from) Reserve Fund
Due To Trust 388,861.85 413,204.04 - 15,580,714.48
-------------- ------------ -------------- ---------------
Total Due To Trust 388,861.85 413,204.04 - 15,580,714.48
------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of November 27, 2000 for the Collection Period of
October 1, 2000 through October 31, 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 215,479,303.46
Maturity Advances Outstanding 62,908,778.08
ANIV Net of Maturity Advance ** 152,570,525.38
Discounted Principal Balance 205,463,969.48
Notional/Certificate Balance 146,600,000.00 -
Adjusted Notional/Certificate Balance 146,600,000.00 -
Percent of ANIV 96.09% 0.00%
Certificate Factor 1.0000000
Servicer Advances 1,403,044.15
Servicer Pay Ahead Balance 2,980,508.14
Number of Current Contracts 12,529
Weighted Average Lease Rate 8.17%
Weighted Average Remaining Term 10.2
POOL DATA CURRENT MONTH
Aggregate Net Investment Value 199,559,707.81
Maturity Advances Outstanding 47,328,063.60
ANIV Net of Maturity Advance ** 152,231,644.21
Discounted Principal Balance 192,045,920.72
Notional/Certificate Balance 146,600,000.00 0.00
Adjusted Notional/Certificate Balance 146,600,000.00 0.00
Percent of ANIV 96.30% 0.00%
Certificate Factor 1.0000000
Servicer Advances 1,241,834.49
Servicer Pay Ahead Balance 2,949,874.81
Number of Current Contracts 11,718
Weighted Average Lease Rate 8.21%
Weighted Average Remaining Term 9.8
Prior Certificate Interest Payment Date September 25, 2000
Next Certificate Interest Payment Date March 26, 2001 **Strictly for purposes of calculating Transferors Interest.
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
CLASS A2 CLASS A3 CLASS B TRANSFEROR INTEREST
-------- -------- ------- -------------------
PERCENT BALANCE PERCENT BALANCE PERCENT BALANCE BALANCE
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <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 6.12% 73,850,000.00 24,631,519.20
Percent of ANIV 52.79% 5.91% 6.00% 2.00%
Certificate Factor 1.0000000 1.0000000 1.0000000
Notional/Certificate Rate 6.3500% 6.4500% 6.7500%
Target Maturity Date September 25, 2000 March 26, 2001 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
Maturity Advances Outstanding
ANIV Net of Maturity Advance **
Discounted Principal Balance
Notional/Certificate Balance - 72,750,000.00 73,850,000.00 5,970,525.38
Adjusted Notional/Certificate Balance - 72,750,000.00 73,850,000.00 5,970,525.38
Percent of ANIV 0.00% 47.68% 48.40% 3.91%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Number of Current Contracts
Weighted Average Lease Rate
Weighted Average Remaining Term
POOL DATA CURRENT MONTH
Aggregate Net Investment Value
Maturity Advances Outstanding
ANIV Net of Maturity Advance **
Discounted Principal Balance
Notional/Certificate Balance 0.00 72,750,000.00 73,850,000.00 5,631,644.21
Adjusted Notional/Certificate Balance 0.00 72,750,000.00 73,850,000.00 5,631,644.21
Percent of ANIV 0.00% 47.79% 48.51% 3.70%
Certificate Factor 1.0000000 1.0000000
Servicer Advances
Servicer Pay Ahead Balance
Number of Current Contracts
Weighted Average Lease Rate
Weighted Average Remaining Term
Prior Certificate Interest Payment Date
Next Certificate Interest Payment Date
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
--------------------------------------------------------------------------------------------------------
<S> <C> <C>
CURRENT MONTH COLLECTION ACTIVITY VEHICLES
Principal Collections 2,565,721.08
Prepayments in Full 241 3,741,253.78
Reallocation Payment 11 192,774.21
Interest Collections 1,386,231.17
Net Liquidation Proceeds and Recoveries 1,093,415.99
Net Liquidation Proceeds - Vehicle Sales 7,255,538.82
Non-Recoverable Advances (88,913.35)
-----------------------
Total Available 16,146,021.70
--------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
AMOUNT ANNUAL AMOUNT
CAPPED AND UNCAPPED EXPENSES:
Total Capped Expenses Paid 32,441.31 324,413.10
Total Uncapped Expenses Paid - -
Capped and Uncapped Expenses Due - -
SERVICER'S FEE DUE:
Servicer's Fee Shortfall Carryforward -
Servicer's Fee Due Current Period 179,566.09
Servicer's Fee Paid 179,566.09
Servicer's Fee Balance Due -
SUPPLEMENTAL SERVICER'S FEES 31,785.95
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
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/ ROBERT WOODIE
-------------------------------------------------
Robert Woodie, National Treasury Manager
Page 3
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