<PAGE>
Exhibit 20
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of August 25, 2000 for the Collection Period of
July 1, 2000 through July 31, 2000
<TABLE>
<CAPTION>
POOL DATA - ORIGINAL DEAL PARAMETERS
------------------------------------
<S> <C>
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 322,939,417.98
Discounted Principal Balance 260,776,917.76
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
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
RESERVE FUND:
<S> <C> <C> <C>
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 42,985,381.87 1,227,656.25 44,213,038.12
Withdrawal Amount 5,008,022.64 - 5,008,022.64
Cash Capital Contribution - -
Transferor Excess 913,706.78 913,706.78
-----------------------------------------------------------------------------
Reserve Fund Balance Prior to Release 38,891,066.01 1,227,656.25 40,118,722.26
Specified Reserve Fund Balance 53,254,338.47 1,227,656.25 54,481,994.72
-----------------------------------------------------------------------------
Release to Transferor - - -
Ending Reserve Fund Balance 38,891,066.01 1,227,656.25 40,118,722.26
Prior Cumulative Withdrawal Amount 21,699,516.47 - 21,699,516.47
Cumulative Withdrawal Amount 26,707,539.11 - 26,707,539.11
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
LIQUIDATION OF CHARGE-OFFS AND REPOSSESSIONS: VEHICLES
--------
<S> <C> <C>
Liquidated Contracts 88
--
Discounted Principal Balance 1,426,766.75
Net Liquidation Proceeds (1,049,737.40)
Recoveries - Previously Liquidated Contracts (107,980.79)
-----------------------------
Aggregate Credit Losses for the Collection Period 269,048.56
=============================
Cumulative Credit Losses for all Periods 17,319,702.79
=============================
Repossessed in Current Period 32
--
RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE Annualized Average
FOR EACH COLLECTION PERIOD: Charge-Off Rate
Second Preceding Collection Period 0.58%
First Preceding Collection Period 0.29%
Current Collection Period 0.91%
-----------------------------------------------------------------------------------------------------------------------------------
CONDITION (i) (CHARGE-OFF RATE)
Three Month Average 0.59%
Charge-off Rate Indicator ( > 1.25%) condition not met
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
DELINQUENT CONTRACTS: PERCENT ACCOUNTS PERCENT ANIV
------- -------- ------- ----
<S> <C> <C> <C> <C>
31-60 Days Delinquent 7.85% 1474 7.33% 23,659,395.75
61-90 Days Delinquent 1.17% 220 1.13% 3,651,961.78
Over 90 Days Delinquent 0.11% 21 0.10% 334,353.45
------------- --------------------
Total Delinquencies 1,715 27,645,710.98
============= ====================
====================
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 0.45%
First Preceding Collection Period 0.48%
Current Collection Period 1.28%
------------------------------------------------------------------------------------------------------------------------------------
CONDITION (ii) (DELINQUENCY PERCENTAGE)
--------------
Three Month Average 0.74%
Delinquency Percentage Indicator ( > 1.25%) condition not met
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
RESIDUAL VALUE (GAIN) LOSS: VEHICLES
--------
<S> <C> <C> <C> <C> <C>
Matured Lease Vehicle Inventory Sold 2557 40,811,379.01
----
Net Liquidation Proceeds (35,305,299.01)
-----------------------
Net Residual Value (Gain) Loss 5,506,080.00
=======================
Cumulative Residual Value (Gain) Loss all periods 40,743,047.78
=======================
AVERAGE AVERAGE
NUMBER SCHEDULED SALE NET LIQUIDATION RESIDUAL
MATURED VEHICLES SOLD FOR SOLD MATURITIES RATIO PROCEEDS VALUE
EACH COLLECTION PERIOD: ------ ---------- ----- --------------- --------
Second Preceding Collection Period 2,372 6,220 38.14% 13,636.84 15,704.39
First Preceding Collection Period 2,730 6,681 40.86% 13,686.04 15,846.04
Current Collection Period 2,557 6,356 40.23% 13,807.31 16,033.61
Three Month Average 13,711.29 15,864.79
------------------------
Ratio of Three Month Average Net Liquidation Proceeds to Average Residual Value 86.43%
-------------------------
-----------------------------------------------------------------------------------------------------------------------------------
CURRENT PERIOD
CONDITION (iii) (RESIDUAL VALUE TEST) AMOUNT/RATIO TEST MET?
--------------- ------------ ---------
a) Number of Vehicles Sold > 25% of Scheduled Maturities 40.23% YES
b) Number of Scheduled Maturities > 500 6,356 YES
c) 3 Month Average Matured Leased Vehicle Proceeds < 75% of Avg. Residual Values 86.43% 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 August 25, 2000 for the Collection Period of
July 1, 2000 through July 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 2,904,815.70
Net Investment Income 2,271,574.85
Non-recoverable Advances (240,107.60)
------------------
Available Interest 4,936,282.95 4,870,450.61 - 3,974,131.18
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 (324,113.33) (316,106.02)
Capped Expenses (32,441.31) (31,639.84)
Interest Accrual on Class B. Cert. Prin. Loss Amt. - -
Uncapped Expenses - -
------------------ -----------------
Total Unallocated Interest 333,707.48 276,683.92
Excess Interest to Transferor - (276,683.92)
------------------ -----------------
Net Interest Collections Available 333,707.48 (0.00)
------------------
INTEREST COLLECTIONS ALLOCATED TO LOSSES: (5,632,452.42)
ACCELERATED PRINCIPAL DISTRIBUTION: -
DEPOSIT TO RESERVE FUND: 913,706.78
WITHDRAWAL FROM RESERVE FUND: 5,008,022.64
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN: 1,204,429.08
NET WITHDRAWAL FROM THE RESERVE FUND: 4,094,315.86
PRINCIPAL:
Current Loss Amount (5,775,128.56) (5,632,452.42) - (5,632,452.42)
Loss Reimbursement from Transferor 624,429.78 624,429.78 - 624,429.78
Loss Reimbursement from Reserve Fund 5,008,022.64 5,008,022.64 - 5,008,022.64
------------------ ----------------- --------- --------------
Total (142,676.14) - - -
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 64,649,477.34 64,649,477.34 - 64,649,477.34
Allocations - Accelerated Principal Distribution - - - -
Allocations - Not Disbursed Beginning of Period 417,272,770.10 417,272,770.10 - 417,272,770.10
Allocations - Not Disbursed End of Period 481,922,247.44 481,922,247.44 - 481,922,247.44
INTEREST DISTRIBUTIONS/ALLOCATIONS:
Distribution - Current Period - - - -
Allocations - Current Period 4,246,020.83 4,246,020.83 - 3,439,583.33
Allocations - Not Disbursed Beginning of Period 16,984,083.32 16,984,083.32 - 13,758,333.32
Allocations - Not Disbursed End of Period 21,230,104.15 21,230,104.15 - 17,197,916.65
DUE TO TRUST - CURRENT PERIOD: -
Total Deposit to/ (Withdrawal from) Reserve Fund (4,094,315.86)
Due To Trust 66,623,923.32 66,623,923.32 - 66,235,528.59
------------------ ----------------- --------- --------------
Total Due To Trust 62,529,607.46 66,623,923.32 - 66,235,528.59
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
CLASS A3 CLASS B TRANSFEROR INTEREST
BALANCE BALANCE INTEREST PRINCIPAL
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
INTEREST: 2.00%
Interest Collections
Net Investment Income
Non-recoverable Advances
Available Interest 444,796.99 451,522.44 65,832.34
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 (8,007.31)
Capped Expenses (801.47)
Interest Accrual on Class B. Cert. Prin. Loss Amt. -
Uncapped Expenses -
-----------------
Total Unallocated Interest 57,023.56
Excess Interest to Transferor 276,683.92
-----------------
Net Interest Collections Available 333,707.48
INTEREST COLLECTIONS ALLOCATED TO LOSSES: (5,632,452.42)
ACCELERATED PRINCIPAL DISTRIBUTION: -
-----------------
DEPOSIT TO RESERVE FUND: (5,298,744.94)
-----------------
WITHDRAWAL FROM RESERVE FUND:
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN:
NET WITHDRAWAL FROM THE RESERVE FUND:
PRINCIPAL:
Current Loss Amount - - (142,676.14)
Loss Reimbursement from Transferor - - (624,429.78)
Loss Reimbursement from Reserve Fund - -
-------------- --------------- --------------
Total - - (142,676.14)
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 391,031.25 415,406.25
Allocations - Not Disbursed Beginning of Period 1,564,125.00 1,661,625.00
Allocations - Not Disbursed End of Period 1,955,156.25 2,077,031.25
DUE TO TRUST - CURRENT PERIOD:
Total Deposit to/ (Withdrawal from) Reserve Fund
Due To Trust 183,578.24 204,816.49 - -
--------------- --------------- ----------------- --------------
Total Due To Trust 183,578.24 204,816.49 - -
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of August 25, 2000 for the Collection Period of
July 1, 2000 through July 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 388,936,000.54
Discounted Principal Balance 327,312,933.67
Notional/Certificate Balance 796,600,000.00 -
Adjusted Notional/Certificate Balance 379,327,229.90 -
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
POOL DATA CURRENT MONTH
Aggregate Net Investment Value 322,939,417.98
Discounted Principal Balance 260,776,917.76
Notional/Certificate Balance 796,600,000.00 0.00
Adjusted Notional/Certificate Balance 314,677,752.56 0.00
Percent of ANIV 97.44% 0.00%
Certificate Factor 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
Prior Certificate Interest Payment Date March 27, 2000
Next Certificate Interest Payment Date September 25, 2000
------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------
CLASS A2 CLASS A3 CLASS B
PERCENT BALANCE PERCENT BALANCE PERCENT BALANCE
---------------------------------------------------------------------------------------------------------------------------
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
Percent of ANIV 52.79% 5.91% 6.00%
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
Discounted Principal Balance
Notional/Certificate Balance 650,000,000.00 72,750,000.00 73,850,000.00
Adjusted Notional/Certificate Balance 232,727,229.90 72,750,000.00 73,850,000.00
Percent of ANIV 59.84% 18.70% 18.99%
Certificate Factor 1.0000000 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 73,850,000.00
Adjusted Notional/Certificate Balance 168,077,752.56 72,750,000.00 73,850,000.00
Percent of ANIV 52.05% 22.53% 22.87%
Certificate Factor 1.0000000 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 March 27, 2000
Next Certificate Interest Payment Date September 25, 2000
------------------------------------------------------------------------
TRANSFEROR INTEREST
Balance
------------------------------------------------------------------------
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV)
Discounted Principal Balance 24,631,519.20
Initial Notional/Certificate Balance 2.00%
Percent of ANIV
Certificate Factor
Notional/Certificate Rate
Target Maturity Date
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 9,608,770.64
Notional/Certificate Balance 9,608,770.64
Adjusted Notional/Certificate Balance 2.47%
Percent of ANIV
Certificate Factor
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 8,261,665.42
Adjusted Notional/Certificate Balance 8,261,665.42
Percent of ANIV 2.56%
Certificate Factor
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 March 27, 2000
Next Certificate Interest Payment Date September 25, 2000
------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------
CURRENT MONTH COLLECTION ACTIVITY VEHICLES
--------------------------------- --------
Principal Collections 3,561,202.11
Prepayments in Full 1237 19,775,073.76
----
Reallocation Payment 26 422,160.93
----
Interest Collections 2,904,815.70
Net Liquidation Proceeds and Recoveries 1,157,718.19
Net Liquidation Proceeds - Vehicle Sales 35,305,299.01
Non-Recoverable Advances (240,107.60)
-----------------------
Total Available 62,886,162.10
--------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
CAPPED AND UNCAPPED EXPENSES: AMOUNT ANNUAL AMOUNT
------------------------- -----------------------------
Total Capped Expenses Paid 32,441.31 227,089.17
Total Uncapped Expenses Paid - -
Capped and Uncapped Expenses Due - -
SERVICER'S FEE DUE:
Servicer's Fee Shortfall Carryforward -
Servicer's Fee Due Current Period 324,113.33
Servicer's Fee Paid 324,113.33
Servicer's Fee Balance Due -
SUPPLEMENTAL SERVICER'S FEES 46,552.59
------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------
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
