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Previous: TOYOTA AUTO LEASE TRUST 1997-A, 8-K, 2000-10-31 |
Next: NETSOL INTERNATIONAL INC, PRE 14A, 2000-10-31 |
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 25, 2000 for the Collection Period of
September 1, 2000 through September 30, 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 215,479,303.46
Discounted Principal Balance 205,463,969.48
Servicer Advances 1,403,044.15
Servicer Pay Ahead Balance 2,980,508.14
Maturity Advances Outstanding 62,908,778.08
Number of Current Contracts 12,529
Weighted Average Lease Rate 8.17%
Weighted Average Remaining Term 10.2
</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
<CAPTION>
CLASS A CLASS B TOTAL
AMOUNT AMOUNT AMOUNT
------ ------ ------
<S> <C> <C> <C>
Beginning Balance 33,740,301.67 1,227,656.25 34,967,957.92
Withdrawal Amount 3,428,717.87 - 3,428,717.87
Cash Capital Contribution - -
Transferor Excess 521,203.15 521,203.15
------------------------------------------------------------------
Reserve Fund Balance Prior to Release 30,832,786.95 1,227,656.25 32,060,443.20
Specified Reserve Fund Balance 53,254,338.47 1,227,656.25 54,481,994.72
------------------------------------------------------------------
Release to Transferor - - -
Ending Reserve Fund Balance 30,832,786.95 1,227,656.25 32,060,443.20
Prior Cumulative Withdrawal Amount 32,840,779.48 - 32,840,779.48
Cumulative Withdrawal Amount 38,192,632.15 - 38,192,632.15
-------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S> <C> <C>
-------------------------------------------------------------------------------------------------------------------------
LIQUIDATION OF CHARGE-OFFS AND REPOSSESSIONS: VEHICLES
--------
Liquidated Contracts 77
--
Discounted Principal Balance 1,298,542.09
Net Liquidation Proceeds (878,801.49)
Recoveries - Previously Liquidated Contracts (434,411.61)
----------------------------
Aggregate Credit Losses for the Collection Period (14,671.01)
============================
Cumulative Credit Losses for all Periods 17,966,111.79
============================
Repossessed in Current Period 38
--
RATIO OF NET CREDIT LOSSES TO THE AVERAGE POOL BALANCE Annualized Average
FOR EACH COLLECTION PERIOD: Charge-Off Rate
Second Preceding Collection Period 0.91%
First Preceding Collection Period 2.75%
Current Collection Period -0.07%
-------------------------------------------------------------------------------------------------------------------------
CONDITION (i) (CHARGE-OFF RATE)
Three Month Average 1.19%
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 4.82% 604 4.79% 10,315,666.15
61-90 Days Delinquent 0.81% 102 0.80% 1,721,427.73
Over 90 Days Delinquent 0.08% 10 0.07% 149,060.49
-------------------- --------------------------
Total Delinquencies 716 12,186,154.37
==================== ==========================
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 1.28%
First Preceding Collection Period 1.09%
Current Collection Period 0.89%
--------------------------------------------------------------------------------------------------------------------------------
CONDITION (ii) (DELINQUENCY PERCENTAGE)
Three Month Average 1.09%
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 1832
---- 30,851,376.94
Net Liquidation Proceeds (26,689,447.31)
--------------------------
Net Residual Value (Gain) Loss 4,161,929.63
==========================
Cumulative Residual Value (Gain) Loss 51,321,514.65
all periods ==========================
AVERAGE AVERAGE
NUMBER SCHEDULED SALE NET LIQUIDATION RESIDUAL
MATURED VEHICLES SOLD FOR SOLD MATURITIES RATIO PROCEEDS VALUE
EACH COLLECTION PERIOD:
Second Preceding Collection Period 2,557 6,356 40.23% 13,807.31 16,033.61
First Preceding Collection Period 3,015 4,594 65.63% 13,996.23 16,209.72
Current Collection Period 1,832 82 100.00% 14,568.48 16,976.06
Three Month Average 14,072.58 16,338.52
--------------------------
Ratio of Three Month Average Net Liquidation 86.13%
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 82 NO
c) 3 Month Average Matured Leased Vehicle Proceeds < 75% 86.13% NO
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 October 25, 2000 for the Collection Period of
September 1, 2000 through September 30, 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 1,623,064.43
Net Investment Income -
Non-recoverable Advances (220,778.64)
------------------
Available Interest 1,402,285.79 1,339,607.61 - -
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 (212,325.98) (202,835.61)
Capped Expenses (32,441.31) (30,991.28)
Interest Accrual on Class B. Cert. Prin. Loss Amt. - -
Uncapped Expenses - -
------------------ -----------------
Total Unallocated Interest 351,081.00 299,343.22
Excess Interest to Transferor - (299,343.22)
------------------ -----------------
Net Interest Collections Available 351,081.00 -
------------------
LOSSES ALLOCABLE TO INVESTOR CERTIFICATES: (3,961,887.98)
ACCELERATED PRINCIPAL DISTRIBUTION: -
DEPOSIT TO RESERVE FUND: 521,203.15
WITHDRAWAL FROM RESERVE FUND: 3,428,717.87
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN: 703,292.26
NET WITHDRAWAL FROM THE RESERVE FUND: 2,907,514.72
PRINCIPAL:
Current Loss Amount (4,147,258.62) (3,961,887.98) - -
Loss Reimbursement from Transferor 533,170.11 533,170.11 - -
Loss Reimbursement from Reserve Fund 3,428,717.87 3,428,717.87 - -
------------------ ----------------- --------- --------------
Total (185,370.64) - - -
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 38,423,208.84 - - -
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 - - - -
Allocations - Not Disbursed End of Period 806,437.50 806,437.50 - -
DUE TO TRUST - CURRENT PERIOD: -
Total Deposit to/ (Withdrawal from) Reserve Fund (2,907,514.72)
Due To Trust 39,229,646.34 806,437.50 - -
------------------ ----------------- --------- --------------
Total Due To Trust 36,322,131.62 806,437.50 - -
------------------------------------------------------------------------------------------------------------------------------------
<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 664,777.99 674,829.62 62,678.18
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 (9,490.37)
Capped Expenses (1,450.03)
Interest Accrual on Class B. Cert. Prin. Loss Amt. -
Uncapped Expenses -
-----------------
Total Unallocated Interest 51,737.78
Excess Interest to Transferor 299,343.22
-----------------
Net Interest Collections Available 351,081.00
LOSSES ALLOCABLE TO INVESTOR CERTIFICATES: (3,961,887.98)
ACCELERATED PRINCIPAL DISTRIBUTION: -
-----------------
DEPOSIT TO RESERVE FUND: (3,610,806.98)
-----------------
WITHDRAWAL FROM RESERVE FUND:
REIMBURSEMENT/DEPOSIT FROM TRANSFEROR PRIN:
NET WITHDRAWAL FROM THE RESERVE FUND:
PRINCIPAL:
Current Loss Amount (3,961,887.98) - (185,370.64)
Loss Reimbursement from Transferor 533,170.11 - (533,170.11)
Loss Reimbursement from Reserve Fund 3,428,717.87 -
-------------- --------------- --------------
Total - - (185,370.64)
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 - - 38,423,208.84
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 - -
Allocations - Not Disbursed End of Period 391,031.25 415,406.25
DUE TO TRUST - CURRENT PERIOD:
Total Deposit to/ (Withdrawal from) Reserve Fund
Due To Trust 391,031.25 415,406.25 - 38,423,208.84
--------------- --------------- ----------------- --------------
Total Due To Trust 391,031.25 415,406.25 - 38,423,208.84
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 2
<PAGE>
TOYOTA MOTOR CREDIT CORPORATION
Servicer's Certificate - Toyota Auto Lease Trust 1997-A
Distribution Date of October 25, 2000 for the Collection Period of
September 1, 2000 through September 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 254,791,175.20
Maturity Advance Outstanding 101,331,986.92
ANIV Net of Maturity Advance** 153,459,188.28
Discounted Principal Balance 218,316,022.95
Notional/Certificate Balance 146,600,000.00 -
Adjusted Notional/Certificate Balance 146,600,000.00 -
Percent of ANIV 95.53% 0.00%
Certificate Factor 1.0000000 -
Servicer Advances 1,545,714.50
Servicer Pay Ahead Balance 3,474,912.47
Number of Current Contracts 14,713
Weighted Average Lease Rate 8.07%
Weighted Average Remaining Term 9.6
POOL DATA CURRENT MONTH
Aggregate Net Investment Value 215,479,303.46
Maturity Advance 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 0.00
Adjusted Notional/Certificate Balance 146,600,000.00 0.00
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
Prior Certificate Interest Payment Date September 25, 2000
Next Certificate Interest Payment Date March 26, 2001
** Strictly for purposes of calculating Transferors Interest.
------------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
---------------------------------------------------------------------------------------------------------------------------
CLASS A2 CLASS A3 CLASS B
PERCENT BALANCE PERCENT BALANCE PERCENT BALANCE
---------------------------------------------------------------------------------------------------------------------------
<S> <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
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 - 72,750,000.00 73,850,000.00
Adjusted Notional/Certificate Balance - 72,750,000.00 73,850,000.00
Percent of ANIV 0.00% 47.41% 48.12%
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 Advance Outstanding
ANIV Net of Maturity Advance**
Discounted Principal Balance
Notional/Certificate Balance 0.00 72,750,000.00 73,850,000.00
Adjusted Notional/Certificate Balance 0.00 72,750,000.00 73,850,000.00
Percent of ANIV 0.00% 47.68% 48.40%
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 March 27, 2000
Next Certificate Interest Payment Date September 25, 2000
** Strictly for purposes of calculating Transferors Interest.
---------------------------------------------------------------------------------------------------------------------------
<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 6,859,188.28
Adjusted Notional/Certificate Balance 6,859,188.28
Percent of ANIV 4.47%
Certificate Factor
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 Advance Outstanding
ANIV Net of Maturity Advance**
Discounted Principal Balance
Notional/Certificate Balance 5,970,525.38
Adjusted Notional/Certificate Balance 5,970,525.38
Percent of ANIV 3.91%
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
** Strictly for purposes of calculating Transferors Interest.
</TABLE>
------------------------------------------------------------------------
<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------
CURRENT MONTH COLLECTION ACTIVITY VEHICLES
--------
<S> <C> <C>
Principal Collections 2,671,373.60
Prepayments in Full 267 4,329,487.47
---
Reallocation Payment 8 161,091.64
---
Interest Collections 1,623,064.43
Net Liquidation Proceeds and Recoveries 1,313,213.10
Net Liquidation Proceeds - Vehicle Sales 26,689,447.31
Non-Recoverable Advances (220,778.64)
-----------------------
Total Available 36,566,898.91
--------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------
CAPPED AND UNCAPPED EXPENSES: AMOUNT ANNUAL AMOUNT
------------------------- -----------------------------
<S> <C> <C>
Total Capped Expenses Paid 32,441.31 291,971.79
Total Uncapped Expenses Paid - -
Capped and Uncapped Expenses Due - -
SERVICER'S FEE DUE:
Servicer's Fee Shortfall Carryforward -
Servicer's Fee Due Current Period 212,325.98
Servicer's Fee Paid 212,325.98
Servicer's Fee Balance Due -
SUPPLEMENTAL SERVICER'S FEES 34,013.27
------------------------------------------------------------------------------------------------------------------
</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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