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Previous: TOYOTA AUTO LEASE TRUST 1997-A, 8-K, 2000-09-29 |
Next: JUPITER MEDIA METRIX INC, SC 13D/A, 2000-09-29 |
<PAGE>
EXHIBIT 20
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 2000 for the Collection Period of
August 1, 2000 through August 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 254,791,175.20
Discounted Principal Balance 218,316,022.95
Servicer Advances 1,545,714.50
Servicer Pay Ahead Balance 3,474,912.47
Maturity Advances Outstanding 101,331,986.92
Number of Current Contracts 14,713
Weighted Average Lease Rate 8.07%
Weighted Average Remaining Term 9.6
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
<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 38,891,066.01 1,227,656.25 40,118,722.26
Withdrawal Amount 6,133,240.37 -- 6,133,240.37
Cash Capital Contribution -- --
Transferor Excess 982,476.03 982,476.03
------------- ------------- -------------
Reserve Fund Balance Prior to Release 33,740,301.67 1,227,656.25 34,967,957.92
Specified Reserve Fund Balance 53,254,338.47 1,227,656.25 54,481,994.72
------------- ------------- -------------
Release to Transferor -- -- --
Ending Reserve Fund Balance 33,740,301.67 1,227,656.25 34,967,957.92
Prior Cumulative Withdrawal Amount 26,707,539.11 -- 26,707,539.11
Cumulative Withdrawal Amount 32,840,779.48 -- 32,840,779.48
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
LIQUIDATION OF CHARGE-OFFS AND REPOSSESSIONS: Vehicles
--------
Liquidated Contracts 96
Discounted Principal Balance 1,556,496.03
Net Liquidation Proceeds (768,401.70)
Recoveries - Previously Liquidated Contracts (127,014.32)
-------------
Aggregate Credit Losses for the Collection Period 661,080.01
=============
Cumulative Credit Losses for all Periods 17,980,782.80
=============
Repossessed in Current Period 40
RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE Annualized Average
FOR EACH COLLECTION PERIOD: Charge-Off Rate
Second Preceding Collection Period 0.29%
First Preceding Collection Period 0.91%
Current Collection Period 2.75%
-----------------------------------------------------------------------------------------------------------------------------------
CONDITION (i)i (CHARGE-OFF RATE)
Three Month Average 1.31%
Charge-off Rate Indicator (greater than 1.25%) CONDITION MET
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Percent Accounts Percent ANIV
------- -------- ------- ----
<S> <C> <C> <C> <C>
DELINQUENT CONTRACTS:
31-60 Days Delinquent 6.63% 975 6.46% 16,471,984.43
61-90 Days Delinquent 1.01% 148 0.94% 2,396,104.55
Over 90 Days Delinquent 0.09% 13 0.08% 206,668.23
----- -------------
Total Delinquencies 1,136 19,074,757.21
===== =============
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 0.48%
First Preceding Collection Period 1.28%
Current Collection Period 1.09%
-----------------------------------------------------------------------------------------------------------------------------------
CONDITION (ii) (DELINQUENCY PERCENTAGE)
Three Month Average 0.95%
Delinquency Percentage Indicator (greater than 1.25%) CONDITION NOT MET
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
----------------------------------------------------------------------------------------------------------------------------------
RESIDUAL VALUE (GAIN) LOSS: Vehicles
--------
Matured Lease Vehicle Inventory Sold 3015 48,615,160.39
----
Net Liquidation Proceeds (42,198,623.15)
--------------
Net Residual Value (Gain) Loss 6,416,537.24
==============
Cumulative Residual Value (Gain) Loss all periods 47,159,585.02
==============
Average Average
Number Scheduled Sale Net Liquidation Residual
MATURED VEHICLES SOLD FOR Sold Maturities Ratio Proceeds Value
EACH COLLECTION PERIOD: ------ ---------- ----- -------- -----
Second Preceding Collection Period 2,730 6,681 40.86% 13,686.04 15,846.04
First Preceding Collection Period 2,557 6,356 40.23% 13,807.31 16,033.61
Current Collection Period 3,015 4,594 65.63% 13,996.23 16,209.72
Three Month Average 13,836.04 16,035.89
---------
Ratio of Three Month Average Net Liquidation Proceeds to Average Residual Value 86.28%
---------
----------------------------------------------------------------------------------------------------------------------------------
CURRENT PERIOD
CONDITION (III) (RESIDUAL VALUE TEST) AMOUNT/RATIO TEST MET?
--------------- ---------
a) Number of Vehicles Sold greater than 25% of Scheduled Maturities 65.63% YES
b) Number of Scheduled Maturities greater than 500 4,594 YES
c) 3 Month Average Matured Leased Vehicle Proceeds less than 75% of Avg. Residual Values 86.28% 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 September 25, 2000 for the Collection Period of
August 1, 2000 through August 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 2,740,135.36
Net Investment Income 2,624,167.67
Non-recoverable Advances (292,348.94)
--------------
Available Interest 5,071,954.09 5,009,333.08 - 4,087,454.81
Class A1, A2, A3 Notional Interest Accrual Amount (3,830,614.58) (3,830,614.58) - (3,439,583.33)
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 (269,116.18) (262,231.46)
Capped Expenses (32,441.31) (31,611.37)
Interest Accrual on Class B. Cert. Prin. Loss Amt. - -
Uncapped Expenses - -
-------------- --------------
Total Unallocated Interest 524,375.77 469,469.42
Excess Interest to Transferor - (469,469.42)
-------------- --------------
Net Interest Collections Available 524,375.77 -
--------------
INTEREST COLLECTIONS ALLOCATED TO LOSSES: (6,896,552.62)
ACCELERATED PRINCIPAL DISTRIBUTION: -
DEPOSIT TO RESERVE FUND: 982,476.03
WITHDRAWAL FROM RESERVE FUND: 6,133,240.37
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN: 1,221,412.51
NET WITHDRAWAL FROM THE RESERVE FUND: 5,150,764.34
PRINCIPAL:
Current Loss Amount (7,077,617.25) (6,896,552.62) - (6,896,552.62)
Loss Reimbursement from Transferor 763,312.25 763,312.25 - 763,312.25
Loss Reimbursement from Reserve Fund 6,133,240.37 6,133,240.37 - 6,133,240.37
-------------- -------------- ---------- --------------
Total (181,064.63) - - -
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 650,000,000.00 650,000,000.00 - 650,000,000.00
Allocations - Current Period 168,077,752.56 168,077,752.56 - 168,077,752.56
Allocations - Accelerated Principal Distribution - - - -
Allocations - Not Disbursed Beginning of Period 481,922,247.44 481,922,247.44 - 481,922,247.44
Allocations - Not Disbursed End of Period - - - -
INTEREST DISTRIBUTIONS/ALLOCATIONS:
Distribution - Current Period 25,476,124.98 25,476,124.98 - 20,637,499.98
Allocations - Current Period 4,246,020.83 4,246,020.83 - 3,439,583.33
Allocations - Not Disbursed Beginning of Period 21,230,104.15 21,230,104.15 - 17,197,916.65
Allocations - Not Disbursed End of Period - - - -
DUE TO TRUST - CURRENT PERIOD: -
Total Deposit to/ (Withdrawal from) Reserve Fund (5,150,764.34)
Due To Trust 675,476,124.98 675,476,124.98 - 670,637,499.98
-------------- -------------- ---------- --------------
Total Due To Trust 670,325,360.64 675,476,124.98 - 670,637,499.98
----------------------------------------------------------------------------------------------------------------------------------
<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 457,480.52 464,397.75 62,621.01
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 (6,884.72)
Capped Expenses (829.94)
Interest Accrual on Class B. Cert. Prin. Loss Amt. -
Uncapped Expenses -
--------------
Total Unallocated Interest 54,906.35
Excess Interest to Transferor 469,469.42
--------------
Net Interest Collections Available 524,375.77
INTEREST COLLECTIONS ALLOCATED TO LOSSES: (6,896,552.62)
ACCELERATED PRINCIPAL DISTRIBUTION: -
--------------
DEPOSIT TO RESERVE FUND: (6,372,176.85)
--------------
WITHDRAWAL FROM RESERVE FUND:
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN:
NET WITHDRAWAL FROM THE RESERVE FUND:
PRINCIPAL:
Current Loss Amount - - (181,064.63)
Loss Reimbursement from Transferor - - (763,312.25)
Loss Reimbursement from Reserve Fund - -
-------------- -------------- -----------
Total - - (181,064.63)
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 2,346,187.50 2,492,437.50 -
Allocations - Current Period 391,031.25 415,406.25
Allocations - Not Disbursed Beginning of Period 1,955,156.25 2,077,031.25
Allocations - Not Disbursed End of Period - -
DUE TO TRUST - CURRENT PERIOD:
Total Deposit to/ (Withdrawal from) Reserve Fund
Due To Trust 2,346,187.50 2,492,437.50 - -
-------------- -------------- -------------- --------------
Total Due To Trust 2,346,187.50 2,492,437.50 - -
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of September 25, 2000 for the Collection Period of
August 1, 2000 through August 31, 2000
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Certificate Balance Class A1 Class A2
--------------------- -------- ---------
Total Percent Balance Percent Balance Percent Balance
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <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 53.87% 650,000,000.00
Percent of ANIV 98.00% 33.30% 52.79%
Certificate Factor 1.0000000 1.0000000 1.0000000
Notional/Certificate Rate 6.2000% 6.3500%
Target Maturity Date September 27, 1999 September 25, 2000
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 322,939,417.98
Discounted Principal Balance 260,776,917.76
Notional/Certificate Balance 796,600,000.00 - 650,000,000.00
Adjusted Notional/Certificate Balance 314,677,752.56 - 168,077,752.56
Percent of ANIV 97.44% 0.00% 52.05%
Certificate Factor 1.0000000 - 1.0000000
Servicer Advances 1,872,200.94
Servicer Pay Ahead Balance 4,822,547.48
Maturity Advances Outstanding -
Number of Current Contracts 18,784
Weighted Average Lease Rate 7.93%
Weighted Average Remaining Term 8.4
POOL DATA CURRENT MONTH
Aggregate Net Investment Value 254,791,175.20
Discounted Principal Balance 218,316,022.95
Notional/Certificate Balance 146,600,000.00 0.00 (0.00)
Adjusted Notional/Certificate Balance 146,600,000.00 0.00 (0.00)
Percent of ANIV 57.54% 0.00% 0.00%
Certificate Factor 1.0000000 - (0.0000000)
Servicer Advances 1,545,714.50
Servicer Pay Ahead Balance 3,474,912.47
Maturity Advances Outstanding 101,331,986.92
Number of Current Contracts 14,713
Weighted Average Lease Rate 8.07%
Weighted Average Remaining Term 9.6
Prior Certificate Interest Payment Date March 27, 2000
Next Certificate Interest Payment Date September 25, 2000
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Class A3 Class B Transferor Interest
--------- ----------- -------------------
Percent Balance Percent Balance Balance
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV)
Discounted Principal Balance
Initial Notional/Certificate Balance 6.03% 72,750,000.00 6.12% 73,850,000.00 24,631,519.20
Percent of ANIV 5.91% 6.00% 2.00%
Certificate Factor 1.0000000 1.0000000
Notional/Certificate Rate 6.4500% 6.7500%
Target Maturity Date 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
Discounted Principal Balance
Notional/Certificate Balance 72,750,000.00 73,850,000.00 8,261,665.42
Adjusted Notional/Certificate Balance 72,750,000.00 73,850,000.00 8,261,665.42
Percent of ANIV 22.53% 22.87% 2.56%
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 72,750,000.00 73,850,000.00 108,191,175.20
Adjusted Notional/Certificate Balance 72,750,000.00 73,850,000.00 108,191,175.20
Percent of ANIV 28.55% 28.98% 42.46%
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
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------
CURRENT MONTH COLLECTION ACTIVITY Vehicles
--------
<S> <C> <C>
Principal Collections 2,853,406.25
Prepayments in Full 926 14,550,531.48
---
Reallocation Payment 34 572,648.63
--
Interest Collections 2,740,135.36
Net Liquidation Proceeds and Recoveries 895,416.02
Net Liquidation Proceeds - Vehicle Sales 42,198,623.15
Non-Recoverable Advances (292,348.94)
-------------
Total Available 63,518,411.95
----------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
CAPPED AND UNCAPPED EXPENSES: Amount Annual Amount
---------- -------------
<S> <C> <C>
Total Capped Expenses Paid 32,441.31 259,530.48
Total Uncapped Expenses Paid - -
Capped and Uncapped Expenses Due - -
SERVICER'S FEE DUE:
Servicer's Fee Shortfall Carryforward -
Servicer's Fee Due Current Period 269,116.18
Servicer's Fee Paid 269,116.18
Servicer's Fee Balance Due -
SUPPLEMENTAL SERVICER'S FEES 37,144.59
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
REVOLVING PERIOD: Vehicles Amount
-------- ------
<S> <C> <C>
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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