<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of June 26, 2000 for the Collection Period
of May 1, 2000 through May 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 462,573,013.40
Discounted Principal Balance 405,464,279.97
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
</TABLE>
<TABLE>
---------------------------------------------------------------------------------------------------------
<S> <C>
RESERVE FUND:
Initial Deposit Amount 30,780,787.98
Specified Reserve Fund Percentage 4.425%
Specified Reserve Fund Amount 54,481,994.72
<CAPTION>
Class A Class B Total
Amount Amount Amount
------- ------- ------
<S> <C> <C> <C>
Beginning Balance 49,931,129.87 1,227,656.25 51,158,786.12
Withdrawal Amount 4,491,779.22 - 4,491,779.22
Cash Capital Contribution - -
Transferor Excess 889,343.30 889,343.30
-------------------------------------------------------
-------------------------------------------------------
Reserve Fund Balance Prior to Release 46,328,693.95 1,227,656.25 47,556,350.20
Specified Reserve Fund Balance 53,254,338.47 1,227,656.25 54,481,994.72
-------------------------------------------------------
-------------------------------------------------------
Release to Transferor - - -
Ending Reserve Fund Balance 46,328,693.95 1,227,656.25 47,556,350.20
Prior Cumulative Withdrawal Amount 12,835,633.81 - 12,835,633.81
Cumulative Withdrawal Amount 17,327,413.03 - 17,327,413.03
---------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
LIQUIDATION OF CHARGE-OFFS AND REPOSSESSIONS: VEHICLES
<S> <C> <C>
Liquidated Contracts 95
--
Discounted Principal Balance 1,557,776.21
Net Liquidation Proceeds (1,157,778.61)
Recoveries - Previously Liquidated Contracts (158,145.49)
--------------
Aggregate Credit Losses for the Collection Period 241,852.11
=============
Cumulative Credit Losses for all Periods 16,948,287.56
=============
Repossessed in Current Period 44
--
RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE Annualized Average
FOR EACH COLLECTION PERIOD: Charge-Off Rate
Second Preceding Collection Period 0.60%
First Preceding Collection Period 0.54%
Current Collection Period 0.58%
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
CONDITION (i)i (CHARGE-OFF RATE)
Three Month Average 0.57%
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 3.77% 1021 3.56% 16,461,687.11
61-90 Days Delinquent 0.40% 107 0.36% 1,682,822.59
Over 90 Days Delinquent 0.06% 16 0.07% 314,708.15
----- -------------
Total Delinquencies 1,144 18,459,217.85
===== =============
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 0.19%
First Preceding Collection Period 0.38%
Current Collection Period 0.45%
-------------------------------------------------------------------------------------------------------------
CONDITION (ii) (DELINQUENCY PERCENTAGE)
Three Month Average 0.34%
Delinquency Percentage Indicator ( > 1.25%) CONDITION NOT MET
-------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
RESIDUAL VALUE (GAIN) LOSS: VEHICLES
<S> <C> <C>
Matured Lease Vehicle Inventory Sold 2372 37,104,063.27
Net Liquidation Proceeds (32,346,580.78)
--------------
Net Residual Value (Gain) Loss 4,757,482.49
==============
Cumulative Residual Value (Gain) Loss all periods 29,536,135.35
==============
<CAPTION>
Average Average
Number Scheduled Sale Net Liquidation Residual
MATURED VEHICLES SOLD FOR SOLD MATURITIES RATIO PROCEEDS VALUE
EACH COLLECTION PERIOD: ---- ---------- ------ -------- -----
<S> <C> <C> <C> <C> <C>
Second Preceding Collection Period 2,064 4,589 44.98% 14,122.18 15,877.09
First Preceding Collection Period 2,129 5,496 38.74% 13,791.30 15,610.59
Current Collection Period 2,372 6,220 38.14% 13,636.84 15,704.39
Three Month Average 13,839.52 15,728.27
Ratio of Three Month Average Net Liquidation Proceeds to Average Residual Value 87.99%
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
CURRENT PERIOD
CONDITION (iii) (RESIDUAL VALUE TEST) AMOUNT/RATIO TEST MET?
-------------- ---------
a) Number of Vehicles Sold > 25% of Scheduled Maturities 38.14% YES
b) Number of Scheduled Maturities > 500 6,220 YES
c) 3 Month Average Matured Leased Vehicle Proceeds
< 75% of Avg. Residual Values 87.99% 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 June 26, 2000 for the Collection Period of
May 1, 2000 through May 31, 2000
<TABLE>
<CAPTION>
CERTIFICATE BALANCE
------------------------- CLASS A1 CLASS A2 CLASS A3
TOTAL PERCENT BALANCE BALANCE BALANCE BALANCE
------------- -------- -------------- -------- -------------- -------------
<S> <C> <C> <C> <C> <C> <C>
INTEREST: 98.00%
Interest Collections 3,437,877.83
Net Investment Income 1,501,832.10
Non-recoverable Advances (228,220.33)
-------------
Available Interest 4,711,489.60 4,636,010.27 -- 3,782,835.39 423,386.58
Class A1, A2, A3 Notional (3,830,614.58) (3,830,614.58) -- (3,439,583.33) (391,031.25)
Interest Accrual Amount
Unreimbursed A1, A2, A3 Interest -- -- -- -- --
Shortfall
Interest Accrual for Adjusted (415,406.25) (415,406.25)
Class B Certificate Bal.
Class B Interest Carryover -- --
Shortfall
Servicer's Fee (443,380.53) (432,953.85)
Capped Expenses (32,441.31) (31,678.41)
Interest Accrual on Class B. -- --
Cert. Prin. Loss Amt.
Uncapped Expenses -- --
------------- -----------
Total Unallocated Interest (10,353.07) (74,642.82)
Excess Interest to Transferor -- --
------------- -----------
Net Interest Collections -- (74,642.82)
Available
-------------
INTEREST COLLECTIONS ALLOCATED TO (4,881,768.66)
LOSSES:
ACCELERATED PRINCIPAL --
DISTRIBUTION:
DEPOSIT TO RESERVE FUND: 889,343.30
WITHDRAWAL FROM RESERVE FUND: 4,491,779.22
REIMBURSEMENT/DEPOSIT FROM 1,289,685.81
TRANSFEROR PRIN:
NET WITHDRAWAL FROM THE RESERVE 3,602,435.92
FUND:
PRINCIPAL:
Current Loss Amount (4,999,334.60) (4,881,768.66) -- (4,881,768.66) --
Loss Reimbursement from 464,632.26 464,632.26 -- 464,632.26 --
Transferor
Loss Reimbursement from Reserve 4,417,136.40 4,417,136.40 -- 4,417,136.40 --
Fund
------------- -------------- -- -------------- -------------
Total (117,565.94) -- -- -- --
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 68,076,373.19 68,076,373.19 -- 68,076,373.19 --
Allocations - Accelerated -- -- -- -- --
Principal Distribution
Allocations - Not Disbursed 277,055,374.86 277,055,374.86 -- 277,055,374.86 --
Beginning of Period
Allocations - Not Disbursed End 345,131,748.05 345,131,748.05 -- 345,131,748.05 --
of Period
INTEREST DISTRIBUTIONS/ALLOCATIONS:
Distribution - Current Period -- -- -- -- --
Allocations - Current Period 4,246,020.83 4,246,020.83 -- 3,439,583.33 391,031.25
Allocations - Not Disbursed 8,492,041.66 8,492,041.66 -- 6,879,166.66 782,062.50
Beginning of Period
Allocations - Not Disbursed End 12,738,062.49 12,738,062.49 -- 10,318,749.99 1,173,093.75
of Period
DUE TO TRUST - CURRENT PERIOD: -
Total Deposit to/(Withdrawal (3,602,435.92)
from) Reserve Fund
Due To Trust 70,820,561.92 70,820,561.92 -- 70,290,509.79 253,875.48
------------- ----- -------------- -- -------------- -------------
Total Due To Trust 67,218,126.00 70,820,561.92 -- 70,290,509.79 253,875.48
<CAPTION>
TRANSFEROR INTEREST
CLASS B -----------------------------
BALANCE INTEREST PRINCIPAL
------------- ------------- -------------
<S> <C> <C> <C>
INTEREST: 2.00%
Interest Collections
Net Investment Income
Non-recoverable Advances
Available Interest 429,788.30 75,479.33
Class A1, A2, A3 Notional
Interest Accrual Amount
Unreimbursed A1, A2, A3 Interest
Shortfall
Interest Accrual for Adjusted (415,406.25)
Class B Certificate Bal.
Class B Interest Carryover --
Shortfall
Servicer's Fee (10,426.68)
Capped Expenses (762.90)
Interest Accrual on Class B. --
Cert. Prin. Loss Amt.
Uncapped Expenses --
-------------
Total Unallocated Interest 64,289.75
Excess Interest to Transferor --
-------------
Net Interest Collections 64,289.75
Available
INTEREST COLLECTIONS ALLOCATED TO
LOSSES: (4,881,768.66)
ACCELERATED PRINCIPAL
DISTRIBUTION: --
-------------
DEPOSIT TO RESERVE FUND: (4,817,478.91)
-------------
WITHDRAWAL FROM RESERVE FUND
REIMBURSEMENT/DEPOSIT FROM
TRANSFEROR PRIN:
NET WITHDRAWAL FROM THE RESERVE
FUND:
PRINCIPAL:
Current Loss Amount -- (117,565.94)
Loss Reimbursement from
Transferor -- (464,632.26)
Loss Reimbursement from Reserve
Fund --
------------- ------------ ------------
Total -- (117,565.94)
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 415,406.25
Allocations - Not Disbursed 830,812.50
Beginning of Period
Allocations - Not Disbursed End 1,246,218.75
of Period
DUE TO TRUST - CURRENT PERIOD: -
Total Deposit to/(Withdrawal
from) Reserve Fund
Due To Trust 276,176.65 -- --
------------- ------------- -------------
Total Due To Trust 276,176.65 -- --
</TABLE>
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of June 26, 2000 for the Collection Period of
May 1, 2000 through May 31, 2000
<TABLE>
<CAPTION>
CERTIFICATE BALANCE CLASS A1
--------------------------- --------
TOTAL PERCENT BALANCE PERCENT
------------------ -------- ---------------- --------
<S> <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%
Percent of ANIV 98.00%
Certificate Factor 1.0000000
Notional/Certificate Rate
Target Maturity Date
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 532,056,638.34
Discounted Principal Balance 484,327,889.74
Notional/Certificate Balance 796,600,000.00
Adjusted Notional/Certificate Balance 519,544,625.14
Percent of ANIV 97.65%
Certificate Factor 1.0000000
Servicer Advances 2,879,684.00
Servicer Pay Ahead Balance 3,508,815.37
Maturity Advances Outstanding --
Number of Current Contracts 31,156
Weighted Average Lease Rate 7.74%
Weighted Average Remaining Term 7.7
POOL DATA CURRENT 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%
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
Prior Certificate Interest Payment Date March 27, 2000
Next Certificate Interest Payment Date September 25, 2000
<CAPTION>
CLASS A1
------------------ -----------------------------
BALANCE PERCENT BALANCE
------------------ -------- ------------------
<S> <C> <C> <C>
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV)
Discounted Principal Balance
Initial Notional/Certificate Balance 410,000,000.00 53.87% 650,000,000.00
Percent of ANIV 33.30% 52.79%
Certificate Factor 1.0000000 1.0000000
Notional/Certificate Rate 6.2000% 6.3500%
Target Maturity Date September 27, 1999 September 25, 2000
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
Adjusted Notional/Certificate Balance -- 372,944,625.14
Percent of ANIV 0.00% 70.09%
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 0.00 650,000,000.00
Adjusted Notional/Certificate Balance 0.00 304,868,251.95
Percent of ANIV 0.00% 65.91%
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
<CAPTION>
CLASS A3 CLASS B
------------------------ ----------------------------
PERCENT BALANCE PERCENT BALANCE
-------- ------------- -------- -----------------
<S> <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
Percent of ANIV 5.91% 6.00%
Certificate Factor 1.0000000 1.0000000
Notional/Certificate Rate 6.4500% 6.7500%
Target Maturity Date March 26, September 26,
2001 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
Adjusted Notional/Certificate Balance 72,750,000.00 73,850,000.00
Percent of ANIV 13.67% 13.88%
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
Adjusted Notional/Certificate Balance 72,750,000.00 73,850,000.00
Percent of ANIV 15.73% 15.97%
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>
TRANSFEROR
INTEREST
-------------
BALANCE
-------------
<S> <C>
ORIGINAL DEAL PARAMETER
Aggregate Net Investment Value (ANIV)
Discounted Principal Balance
Initial Notional/Certificate Balance 24,631,519.20
Percent of ANIV 2.00%
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
Notional/Certificate Balance 12,512,013.20
Adjusted Notional/Certificate Balance 12,512,013.20
Percent of ANIV 2.35%
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 11,104,761.45
Adjusted Notional/Certificate Balance 11,104,761.45
Percent of ANIV 2.40%
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
Next Certificate Interest Payment Date
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------
CURRENT MONTH COLLECTION ACTIVITY VEHICLES
<S> <C> <C>
Principal Collections 5,537,256.35
Prepayments in Full 1595 24,875,979.78
----
Reallocation Payment 25 408,549.33
--
Interest Collections 3,437,877.83
Net Liquidation Proceeds and Recoveries 1,315,924.10
Net Liquidation Proceeds - Vehicle Sales 32,346,580.78
Non-Recoverable Advances (228,220.33)
--------------
Total Available 67,693,947.84
-----------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------
CAPPED AND UNCAPPED EXPENSES: Amount Annual Amount
------------------- ------------------------
<S> <C> <C>
Total Capped Expenses Paid 32,441.31 162,206.55
Total Uncapped Expenses Paid - -
Capped and Uncapped Expenses Due - -
SERVICER'S FEE DUE:
Servicer's Fee Shortfall Carryforward -
Servicer's Fee Due Current Period 443,380.53
Servicer's Fee Paid 443,380.53
Servicer's Fee Balance Due -
SUPPLEMENTAL SERVICER'S FEES 67,962.45
---------------------------------------------------------------------------------------------------
</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/ Holly Pearson
------------------------------------------------------
Holly Pearson, Treasury Manager
