Ford Credit Auto Owner Trust 2020-A
Monthly Investor Report
| | | | | |
| Collection Period | July 2023 |
| Payment Date | 8/15/2023 |
| Transaction Month | 39 | |
Additional information about the structure, cashflows, defined terms and parties for this transaction can be found in the prospectus, available on the SEC website (http://www.sec.gov) under the registration number 333-225949 and at https://www.ford.com/finance/investor-center/asset-backed-securitization.
I. ORIGINAL DEAL PARAMETERS
| | | | | | | | | | | | | | | | | |
| Dollar Amount | | # of Receivables | | Weighted Avg Remaining Term at Cutoff |
| | | | | |
| | | | | |
| Initial Pool Balance | $ | 914,193,806.49 | | | 34,181 | | | 54.8 months |
| | | | | |
| Dollar Amount | | Note Interest Rate | | Final Scheduled Payment Date |
| Original Securities: | | | | | |
| Class A-1 Notes | $ | 140,000,000.00 | | | 0.26711 | % | | May 15, 2021 |
| Class A-2 Notes | $ | 274,500,000.00 | | | 1.03 | % | | October 15, 2022 |
| Class A-3 Notes | $ | 314,500,000.00 | | | 1.04 | % | | August 15, 2024 |
| Class A-4 Notes | $ | 70,700,000.00 | | | 1.35 | % | | July 15, 2025 |
| Class B Notes | $ | 25,270,000.00 | | | 2.05 | % | | September 15, 2025 |
| Class C Notes | $ | 16,840,000.00 | | | 3.49 | % | | October 15, 2026 |
| | | | | |
| Total | $ | 841,810,000.00 | | | | | |
| | | |
II. AVAILABLE FUNDS
| | | | | | | | | | | |
| Interest: | | | |
| Interest Collections | | $ | 321,111.24 | | |
| | | |
| Principal: | | | |
| Principal Collections | | $ | 6,828,549.82 | | |
| Prepayments in Full | | $ | 2,251,934.86 | | |
| Liquidation Proceeds | | $ | 11,674.07 | | |
| Recoveries | | $ | 28,472.69 | | |
| Sub Total | | $ | 9,120,631.44 | | |
| Collections: | | $ | 9,441,742.68 | | |
| | | |
| Purchase Amounts: | | | |
| Purchase Amounts Related to Principal | | $ | 136,473.41 | | |
| Purchase Amounts Related to Interest | | $ | 236.86 | | |
| Sub Total | | $ | 136,710.27 | | |
| | | |
| Clean-up Call | | $ | 0.00 | | |
| | | |
| Reserve Account Draw Amount | | $ | 0.00 | | |
| | | |
| Available Funds - Total | | $ | 9,578,452.95 | | |
Ford Credit Auto Owner Trust 2020-A
Monthly Investor Report
| | | | | |
| Collection Period | July 2023 |
| Payment Date | 8/15/2023 |
| Transaction Month | 39 | |
III. DISTRIBUTIONS
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Calculated Amount | | Amount Paid | | Shortfall | | Carryover Shortfall | | Remaining Available Funds |
| Trustee and Other Fees/Expenses | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 9,578,452.95 | |
| Servicing Fee | $ | 115,185.28 | | | $ | 115,185.28 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 9,463,267.67 | |
| Interest - Class A-1 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 9,463,267.67 | |
| Interest - Class A-2 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 9,463,267.67 | |
| Interest - Class A-3 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 9,463,267.67 | |
| Interest - Class A-4 Notes | $ | 78,569.77 | | | $ | 78,569.77 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 9,384,697.90 | |
| First Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 9,384,697.90 | |
| Interest - Class B Notes | $ | 43,169.58 | | | $ | 43,169.58 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 9,341,528.32 | |
| Second Priority Principal Payment | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 9,341,528.32 | |
| Interest - Class C Notes | $ | 48,976.33 | | | $ | 48,976.33 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 9,292,551.99 | |
| Reserve Account Deposit | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 9,292,551.99 | |
| Regular Principal Payment | $ | 8,498,673.69 | | | $ | 8,498,673.69 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 793,878.30 | |
| Additional Trustee and Other Fees/Expenses | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 793,878.30 | |
| Residual Released to Depositor | $ | 0.00 | | | $ | 793,878.30 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Total | | | $ | 9,578,452.95 | | | | | | | |
| | | | | | | | | |
| Principal Payment: | | | | | | | | | |
| First Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Second Priority Principal Payment | | | | | | | | | $ | 0.00 | |
| Regular Principal Payment | | | | | | | | | $ | 8,498,673.69 | |
| Total | | | | | | | | | $ | 8,498,673.69 | |
IV. NOTEHOLDER PAYMENTS
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Noteholder Principal Payments | | Noteholder Interest Payments | | Total Payment |
| | | Per $1,000 of | | | | Per $1,000 of | | | | Per $1,000 of |
| Actual | | Original Balance | | Actual | | Original Balance | | Actual | | Original Balance |
| Class A-1 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Class A-2 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Class A-3 Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | |
| Class A-4 Notes | $ | 8,498,673.69 | | | $ | 120.21 | | | $ | 78,569.77 | | | $ | 1.11 | | | $ | 8,577,243.46 | | | $ | 121.32 | |
| Class B Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 43,169.58 | | | $ | 1.71 | | | $ | 43,169.58 | | | $ | 1.71 | |
| Class C Notes | $ | 0.00 | | | $ | 0.00 | | | $ | 48,976.33 | | | $ | 2.91 | | | $ | 48,976.33 | | | $ | 2.91 | |
| Total | $ | 8,498,673.69 | | | $ | 10.10 | | | $ | 170,715.68 | | | $ | 0.20 | | | $ | 8,669,389.37 | | | $ | 10.30 | |
Ford Credit Auto Owner Trust 2020-A
Monthly Investor Report
| | | | | |
| Collection Period | July 2023 |
| Payment Date | 8/15/2023 |
| Transaction Month | 39 | |
V. NOTE BALANCE AND POOL INFORMATION
| | | | | | | | | | | | | | | | | | | | | | | |
| Beginning of Period | | End of Period |
| Balance | | Note Factor | | Balance | | Note Factor |
| Class A-1 Notes | $ | 0.00 | | | 0.0000000 | | $ | 0.00 | | | 0.0000000 |
| Class A-2 Notes | $ | 0.00 | | | 0.0000000 | | $ | 0.00 | | | 0.0000000 |
| Class A-3 Notes | $ | 0.00 | | | 0.0000000 | | $ | 0.00 | | | 0.0000000 |
| Class A-4 Notes | $ | 69,839,796.89 | | | 0.9878331 | | $ | 61,341,123.20 | | | 0.8676255 |
| Class B Notes | $ | 25,270,000.00 | | | 1.0000000 | | $ | 25,270,000.00 | | | 1.0000000 |
| Class C Notes | $ | 16,840,000.00 | | | 1.0000000 | | $ | 16,840,000.00 | | | 1.0000000 |
| Total | $ | 111,949,796.89 | | | 0.1329870 | | $ | 103,451,123.20 | | | 0.1228913 |
| | | | | | | | | | | |
| Pool Information | | | |
| Weighted Average APR | 2.823 | % | | 2.826 | % |
| Weighted Average Remaining Term | 24.13 | | 23.36 |
| Number of Receivables Outstanding | 11,561 | | 11,208 |
| Pool Balance | $ | 138,222,330.70 | | | $ | 128,966,713.19 | |
| Adjusted Pool Balance (Pool Balance - YSOC Amount) | $ | 128,786,206.27 | | | $ | 120,287,532.58 | |
| Pool Factor | 0.1511959 | | 0.1410715 |
VI. OVERCOLLATERALIZATION INFORMATION
| | | | | |
| Specified Reserve Balance | $ | 8,418,204.69 | |
| Yield Supplement Overcollateralization Amount | $ | 8,679,180.61 | |
| Targeted Overcollateralization Amount | $ | 25,515,589.99 | |
| Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) | $ | 25,515,589.99 | |
VII. RECONCILIATION OF RESERVE ACCOUNT
| | | | | |
| Beginning Reserve Account Balance | $ | 8,418,204.69 | |
| Reserve Account Deposits Made | $ | 0.00 | |
| Reserve Account Draw Amount | $ | 0.00 | |
| Ending Reserve Account Balance | $ | 8,418,204.69 | |
| Change in Reserve Account Balance | $ | 0.00 | |
| Specified Reserve Balance | $ | 8,418,204.69 | |
Ford Credit Auto Owner Trust 2020-A
Monthly Investor Report
| | | | | |
| Collection Period | July 2023 |
| Payment Date | 8/15/2023 |
| Transaction Month | 39 | |
| | | | | | | | | | | | | | | | | |
VIII. NET LOSS AND DELINQUENT RECEIVABLES
| | |
| | | # of Receivables | | Amount |
| Current Collection Period Loss: | | | | | |
| Realized Loss (Charge-Offs) | | | 25 | | $ | 26,985.35 | |
| (Recoveries) | | | 30 | | $ | 28,472.69 | |
| Net Loss for Current Collection Period | | | | | $ | (1,487.34) | |
| Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) | -0.0129 | % |
| | | | | | | | | | | | | | | | | | | | |
| Prior and Current Collection Periods Average Loss: | | | | | | |
| | | | | | |
| Ratio of Net Loss to the Average Pool Balance (annualized) | | | | | | |
| Third Prior Collection Period | | | | | | 0.6319 | % |
| Second Prior Collection Period | | | | | | 0.1066 | % |
| Prior Collection Period | | | | | | 0.0833 | % |
| Current Collection Period | | | | | | -0.0134 | % |
| Four Month Average (Current and Prior Three Collection Periods) | | | | | | 0.2021 | % |
| | | | | | |
| Cumulative Loss: | | | | | | |
| Cumulative Realized Loss (Charge-Offs) | | | 1658 | | | $ | 3,793,738.58 | |
| (Cumulative Recoveries) | | | | | | $ | 1,270,748.90 | |
| Cumulative Net Loss for All Collection Periods | | | | | | $ | 2,522,989.68 | |
| Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance | | | | | | 0.2760 | % |
| | | | | | |
| Average Realized Loss for Receivables that have experienced a Realized Loss | | | | | | $ | 2,288.14 | |
| Average Net Loss for Receivables that have experienced a Realized Loss | | | | | | $ | 1,521.71 | |
| Recoveries on a small number of charged-off receivables were incorrectly applied or duplicated during the period from May 2019 through September 2022 due to a systems issue. As a result, the amounts in the “Cumulative Recoveries”, “Cumulative Net Loss for All Collection Periods”, “Ratio of Cumulative Net Loss for All Collection Periods to Initial Pool Balance” and “Average Net Loss for Receivables that have experienced a Realized Loss” reflect the incorrectly applied or duplicated amounts, generally resulting in recoveries being overstated and net losses being understated. However, the incorrectly applied or duplicated amounts are not material, and if the recoveries had been correctly applied the “Ratio of Cumulative Net Loss for All Collection Periods to Initial Pool Balance” would have changed by less than 0.02%. |
| % of EOP Pool Balance | | # of Receivables
| | | Amount
|
| Delinquent Receivables: | | | | | | |
| 31-60 Days Delinquent | 1.44 | % | | 112 | | | $ | 1,852,417.78 | |
| 61-90 Days Delinquent | 0.22 | % | | 18 | | | $ | 284,142.66 | |
| 91-120 Days Delinquent | 0.04 | % | | 3 | | | $ | 57,311.27 | |
| Over 120 Days Delinquent | 0.05 | % | | 4 | | | $ | 60,551.76 | |
| Total Delinquent Receivables | 1.75 | % | | 137 | | | $ | 2,254,423.47 | |
| Repossession Inventory: | | | | | | |
| Repossessed in the Current Collection Period | | | 2 | | | $ | 80,290.30 | |
| Total Repossessed Inventory | | | 5 | | | $ | 134,485.32 | |
| | | | | | | | | | | | | | | | | |
| Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables: | | |
| Second Prior Collection Period | | | | | 0.2512 | % |
| Prior Collection Period | | | | | 0.1297 | % |
| Current Collection Period | | | | | 0.2231 | % |
| Three Month Average | | | | | 0.2013 | % |
| | | | | |
| Delinquency Trigger (61+ Delinquent Receivables) | |
| | | | | |
| Transaction Month | Trigger | | | | |
| | | | | |
| 1-12 | 0.70% | | | | |
| 13-24 | 1.40% | | | | |
| 25-36 | 2.30% | | | | |
| 37+ | 3.60% | | | | |
| | | | | |
| 61+ Delinquent Receivables Balance to EOP Pool Balance | | | | | 0.3117 | % |
| Delinquency Trigger Occurred | | | | | No |
|
| | | | | |
Ford Credit Auto Owner Trust 2020-A
Monthly Investor Report
| | | | | |
| Collection Period | July 2023 |
| Payment Date | 8/15/2023 |
| Transaction Month | 39 | |
| | | | | | | | | | | | | | |
| Receivables Granted Extensions in the Current Collection Period: | # of Receivables | Amount |
| | | | |
| 1 Month Extended | | | 24 | $358,652.27 |
| 2 Months Extended | | | 39 | $647,257.09 |
| 3+ Months Extended | | | 5 | $69,600.75 |
| | | | |
| Total Receivables Extended | 68 | $1,075,510.11 |
IX. REPURCHASE DEMAND ACTIVITY (RULE 15Ga-1)
| | |
| No Activity to report |
|
| Most Recent Form ABS-15G for repurchase demand activity |
|
| Filed by: Ford Motor Credit Company LLC |
| CIK#: 0000038009 |
| Date: February 3, 2023 |
SERVICER CERTIFICATION
THIS REPORT IS ACCURATE IN ALL MATERIAL RESPECTS.
Ford Motor Credit Company LLC
/s/ Ryan M. Hershberger
Assistant Treasurer