Servicer’s Certificate
for the Collection Period December 01, 2024 through December 31, 2024
for Payment Date of January 21, 2025
Toyota Lease Owner Trust 2024-A
Toyota Lease Capital, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
31 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
32 | Actual/360 Days |
32 |
| Notes | Initial
Principal
Balance |
Final
Scheduled
Payment Due |
Beginning
Principal
Balance |
Beginning
Note
Factor |
Priority Principal
Distribution
Paid |
Regular Principal
Distribution
Paid |
Ending
Principal
Balance |
Ending
Note
Factor | ||||||||
| A-1 | $200,000,000.00 | 02/20/2025 | $0.00 | 0.0000 | $0.00 | $0.00 | $0.00 | 0.0000 | ||||||||
| A-2a | $222,000,000.00 | 07/20/2026 | $88,736,126.50 | 0.3997 | $0.00 | $21,133,031.12 | $67,603,095.38 | 0.3045 | ||||||||
| A-2b | $250,000,000.00 | 07/20/2026 | $99,928,070.39 | 0.3997 | $0.00 | $23,798,458.47 | $76,129,611.92 | 0.3045 | ||||||||
| A-3 | $440,000,000.00 | 04/20/2027 | $440,000,000.00 | 1.0000 | $0.00 | $0.00 | $440,000,000.00 | 1.0000 | ||||||||
| A-4 | $88,000,000.00 | 06/20/2028 | $88,000,000.00 | 1.0000 | $0.00 | $0.00 | $88,000,000.00 | 1.0000 | ||||||||
|
|
|
| ||||||||||||||
| Total | $1,200,000,000.00 | $716,664,196.89 | $0.00 | $44,931,489.59 | $671,732,707.30 | 0.5598 | ||||||||||
|
|
|
| ||||||||||||||
| Notes | Interest Rate | Interest
Distributable
Amount |
Prior
Interest
Carryover |
Interest
Distribution
Amount |
Current
Interest
Carryover |
Total
Principal &
Interest Distribution | ||||||
| A-1 | 5.5240% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| A-2a | 5.3300% | $394,136.30 | $0.00 | $394,136.30 | $0.00 | $21,527,167.42 | ||||||
| A-2b | 5.0046% | $444,533.35 | $0.00 | $444,533.35 | $0.00 | $24,242,991.82 | ||||||
| A-3 | 5.2500% | $1,925,000.00 | $0.00 | $1,925,000.00 | $0.00 | $1,925,000.00 | ||||||
| A-4 | 5.2600% | $385,733.33 | $0.00 | $385,733.33 | $0.00 | $385,733.33 | ||||||
|
| ||||||||||||
| Total | $3,149,402.98 | $0.00 | $3,149,402.98 | $0.00 | $48,080,892.57 | |||||||
|
| ||||||||||||
Credit Enhancement
| Initial Balance | Beginning Balance | Ending Balance | ||||||||||
| Overcollateralization |
$232,844,945.60 | $232,844,945.60 | $232,844,945.60 | |||||||||
| Total Securitization Value |
$1,432,844,945.60 | $949,509,142.49 | $904,577,652.90 | |||||||||
| NPV Lease Payment Receivable |
$645,242,738.75 | $353,203,307.12 | $329,048,674.50 | |||||||||
| NPV Base Residual |
$787,602,206.85 | $596,305,835.37 | $575,528,978.40 | |||||||||
| Amount | Percentage | |||||||||||
| Initial Overcollateralization (1) |
$232,844,945.60 | 16.25% | ||||||||||
| Overcollateralization Target (1) |
$232,844,945.60 | 16.25% | ||||||||||
| Current Overcollateralization (2) |
$232,844,945.60 | 25.74% | ||||||||||
| Reserve Account |
||||||||||||
| Beginning Balance |
$3,582,112.37 | |||||||||||
| Reserve Account Draw Amount |
$(3,582,112.37) | |||||||||||
| Amount Available for Deposit |
$57,610,849.17 | |||||||||||
| Amount Deposited to the Reserve Account |
$3,582,112.37 | |||||||||||
| Reserve Account Target Amount |
$3,582,112.37 | |||||||||||
| Reserve Account Release to Seller |
$0.00 | |||||||||||
| Ending Reserve Account Amount |
$3,582,112.37 | |||||||||||
(1) Percentage calculated is based on the Aggregate Securitization Value as of the initial Cut -off Date
(2) Percentage calculated is based on the Aggregate Securitization Value as of the latest Collection Period
Page 1 of 5
Servicer’s Certificate
for the Collection Period December 01, 2024 through December 31, 2024
for Payment Date of January 21, 2025
Toyota Lease Owner Trust 2024-A
Toyota Lease Capital, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
31 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
32 | Actual/360 Days |
32 |
Available Collections
| Lease Payments Received |
$20,907,400.49 | |||
| Net Sales Proceeds - Early Terminations |
$23,384,502.69 | |||
| Net Sales Proceeds - Scheduled Terminations |
$12,844,848.15 | |||
| Excess Wear and Tear Received |
$2,026.49 | |||
| Excess Mileage Charges Received |
$9,482.46 | |||
| Aggregate Net Liquidation and Recovery Proceeds |
$821,137.12 | |||
| Optional Purchase Price |
$0.00 | |||
| Additional Loss Amounts |
$0.00 | |||
| Reallocation Payments |
$0.00 | |||
|
|
|
|||
| Total Collections |
$57,969,397.40 | |||
| Reserve Account Withdrawal |
$3,582,112.37 | |||
|
|
|
|||
| Total Available Collections |
$61,551,509.77 | |||
Distributions
| Calculated Amount | Amount Paid | Shortfall | ||||||||||||||||||||
| (i) |
Total Servicing Fee, Net of Supplemental Servicing Fee |
$791,257.62 | $791,257.62 | $0.00 | ||||||||||||||||||
| (ii) |
Owner Trustee Fee & Other Admin Facility Fees |
|||||||||||||||||||||
| Indenture Trustee |
$0.00 | $0.00 | $0.00 | |||||||||||||||||||
| Owner Trustee |
$0.00 | $0.00 | $0.00 | |||||||||||||||||||
| Securities Intermediary |
$0.00 | $0.00 | $0.00 | |||||||||||||||||||
| (iii) |
Note Interest Amount - Class A-1 Notes |
$0.00 | $0.00 | $0.00 | ||||||||||||||||||
| Note Interest Amount - Class A-2a Notes |
$394,136.30 | $394,136.30 | $0.00 | |||||||||||||||||||
| Note Interest Amount - Class A-2b Notes |
$444,533.35 | $444,533.35 | $0.00 | |||||||||||||||||||
| Note Interest Amount - Class A-3 Notes |
$1,925,000.00 | $1,925,000.00 | $0.00 | |||||||||||||||||||
| Note Interest Amount - Class A-4 Notes |
$385,733.33 | $385,733.33 | $0.00 | |||||||||||||||||||
| (iv) |
Priority Principal Distribution Amount | $0.00 | $0.00 | $0.00 | ||||||||||||||||||
| (v) |
Reserve Account Deposit | $3,582,112.37 | $3,582,112.37 | $0.00 | ||||||||||||||||||
| (vi) |
Regular Principal Distribution Amount | $44,931,489.59 | $44,931,489.59 | $0.00 | ||||||||||||||||||
| (vii) |
Additional Transaction Fees and Expenses | $0.00 | $0.00 | $0.00 | ||||||||||||||||||
| (viii) |
Excess Amounts Distributed to Certificateholder | $9,097,247.21 | $9,097,247.21 | $0.00 | ||||||||||||||||||
Page 2 of 5
Servicer’s Certificate
for the Collection Period December 01, 2024 through December 31, 2024
for Payment Date of January 21, 2025
Toyota Lease Owner Trust 2024-A
Toyota Lease Capital, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
31 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
32 | Actual/360 Days |
32 |
Credit Loss and Residual Gain/(Loss) Activity
| Credit Loss | Current | |||||
|
|
||||||
|
|
Current Month Liquidated Leases |
29 | ||||
| Securitization Value of Defaulted Leases - Beginning of Period |
$869,260.29 | |||||
| Securitization Value of Reallocated Contracts, Previously Charged-off |
$0.00 | |||||
| Net Liquidation Proceeds |
($374.10) | |||||
| Recoveries on Previously Liquidated Contracts |
$821,511.22 | |||||
|
|
||||||
| Net Credit Losses for the Collection Period |
$48,123.17 | |||||
| Cumulative Net Credit Loss |
$5,905,161.12 | |||||
| Cumulative Net Credit Loss as % of Initial Securitization Value |
0.4121% | |||||
| Preceding Period Ratio |
0.4088% | |||||
| Second Preceding Period Ratio |
0.3558% | |||||
| Residual Gain/(Loss) | Current | |||||
|
|
||||||
| Securitization Value of Scheduled and Early Terminations - Beginning of Period (adjusted) |
$31,429,649.66 | |||||
| Sale Proceeds and Other Payments Received During the Period |
$36,240,859.79 | |||||
|
|
||||||
| Current Residual Gain/(Loss) |
$4,811,210.13 | |||||
| Cumulative Residual Gain/(Loss) |
$55,043,331.39 | |||||
| Cumulative Residual Gain/(Loss) as % of Aggregate Initial Securitization Value |
3.8415% | |||||
| Preceding Period Ratio |
3.5058% | |||||
| Second Preceding Period Ratio |
3.1862% | |||||
Pool Statistics
| Initial | Prior Period | Current Period | ||||||||||||
|
|
Securitization Value |
$1,432,844,945.60 | $949,509,142.49 | $904,577,652.90 | ||||||||||
| Number of Contracts |
44,088 | 31,725 | 30,535 | |||||||||||
| Pool Factor |
1.0000 | 0.6627 | 0.6313 | |||||||||||
| Weighted Average Remaining Term (months) |
26.95 | 18.92 | 18.22 | |||||||||||
| Aggregate Base Residual Value |
$974,673,550.99 | $695,838,319.22 | $668,287,268.03 | |||||||||||
| Undiscounted Lease Balance |
$1,710,368,825.79 | $1,083,078,416.96 | $1,027,772,407.93 | |||||||||||
| Cumulative Turn In Ratio - Terminated Units |
N/A | 2.48% | 2.48% | |||||||||||
| Number of Reallocated Contracts |
N/A | 1 | 0 | |||||||||||
Page 3 of 5
Servicer’s Certificate
for the Collection Period December 01, 2024 through December 31, 2024
for Payment Date of January 21, 2025
Toyota Lease Owner Trust 2024-A
Toyota Lease Capital, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
| Collection Period |
31 | 30/360 Days |
30 | |||||
| Interest Accrual Period |
32 | Actual/360 Days |
32 |
Delinquency Profile
| Percentage | No. of Leases | Percentage | Balance | |||||||||||||||
| 30-59 Days Delinquent | 1.31% | 400 | 1.41% | $12,797,753.48 | ||||||||||||||
| 60-89 Days Delinquent | 0.37% | 113 | 0.41% | $3,715,215.66 | ||||||||||||||
| 90-119 Days Delinquent | 0.10% | 30 | 0.11% | $970,473.43 | ||||||||||||||
| 120 or More Days Delinquent | 0.00% | 0 | 0.00% | $0.00 | ||||||||||||||
|
|
||||||||||||||||||
| Total Delinquencies | 543 | $17,483,442.57 | ||||||||||||||||
Early and Scheduled Terminations
| Amount | Number of Contracts | |||||||||
|
|
Early Terminations |
$ | 20,123,295.78 | 675 | ||||||
| Scheduled Terminations |
$ | 11,423,511.67 | 486 | |||||||
Noteholder Distributions
| Interest | Per $1000 of | Principal | Per $1000 of | Amount | Per $1000 of | |||||||||
| Distributed | Original Balance | Distributed | Original Balance | Distributed | Original Balance | |||||||||
|
|
Class A-1 Notes |
$0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||
| Class A-2a Notes |
$394,136.30 | $1.78 | $21,133,031.12 | $95.19 | $21,527,167.42 | $96.97 | ||||||||
| Class A-2b Notes |
$444,533.35 | $1.78 | $23,798,458.47 | $95.19 | $24,242,991.82 | $96.97 | ||||||||
| Class A-3 Notes |
$1,925,000.00 | $4.38 | $0.00 | $0.00 | $1,925,000.00 | $4.38 | ||||||||
| Class A-4 Notes |
$385,733.33 | $4.38 | $0.00 | $0.00 | $385,733.33 | $4.38 | ||||||||
Page 4 of 5
Servicer’s Certificate
for the Collection Period December 01, 2024 through December 31, 2024
for Payment Date of January 21, 2025
Toyota Lease Owner Trust 2024-A
Toyota Lease Capital, LLC
SELLER
Toyota Motor Credit Corporation
SERVICER
I hereby certify to the best of my knowledge that the report provided is true and correct.
| /s/ Stephen Bishop |
| Name: Stephen Bishop |
| Title: General Manager - Treasury |
Page 5 of 5