Ford Credit Auto Owner Trust 2024-C

01/22/2025 | Press release | Distributed by Public on 01/22/2025 09:13

Asset-Backed Issuer Distribution Report (Form 10-D)


Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
Collection Period December 2024
Payment Date 1/15/2025
Transaction Month 4
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 333-258040 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 $1,688,795,240.91 42,975 57.2 months
Dollar Amount Note Interest Rate Final Scheduled Payment Date
Original Securities
Class A-1 Notes $ 330,000,000.00 4.922 % October 15, 2025
Class A-2a Notes $ 300,000,000.00 4.32 % August 15, 2027
Class A-2b Notes $ 245,000,000.00 4.99757 % * August 15, 2027
Class A-3 Notes $ 545,000,000.00 4.07 % July 15, 2029
Class A-4 Notes $ 80,000,000.00 4.11 % July 15, 2030
Class B Notes $ 47,370,000.00 4.40 % August 15, 2030
Class C Notes $ 31,570,000.00 0.00 % March 15, 2032
Total $ 1,578,940,000.00
* 30-day average SOFR + 0.40%
II. AVAILABLE FUNDS
Interest:
Interest Collections $ 6,202,311.89
Principal:
Principal Collections $ 33,371,688.07
Prepayments in Full $ 13,409,254.37
Liquidation Proceeds $ 201,083.96
Recoveries $ 4,034.89
Sub Total $ 46,986,061.29
Collections $ 53,188,373.18
Purchase Amounts:
Purchase Amounts Related to Principal $ 0.00
Purchase Amounts Related to Interest $ 0.00
Sub Total $ 0.00
Clean-up Call $ 0.00
Reserve Account Draw Amount $ 0.00
Available Funds - Total $53,188,373.18
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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
Collection Period December 2024
Payment Date 1/15/2025
Transaction Month 4
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 $ 53,188,373.18
Servicing Fee $ 1,289,028.71 $ 1,289,028.71 $ 0.00 $ 0.00 $ 51,899,344.47
Interest - Class A-1 Notes $ 776,588.99 $ 776,588.99 $ 0.00 $ 0.00 $ 51,122,755.48
Interest - Class A-2a Notes $ 1,080,000.00 $ 1,080,000.00 $ 0.00 $ 0.00 $ 50,042,755.48
Interest - Class A-2b Notes $ 1,020,337.21 $ 1,020,337.21 $ 0.00 $ 0.00 $ 49,022,418.27
Interest - Class A-3 Notes $ 1,848,458.33 $ 1,848,458.33 $ 0.00 $ 0.00 $ 47,173,959.94
Interest - Class A-4 Notes $ 274,000.00 $ 274,000.00 $ 0.00 $ 0.00 $ 46,899,959.94
First Priority Principal Payment $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 46,899,959.94
Interest - Class B Notes $ 173,690.00 $ 173,690.00 $ 0.00 $ 0.00 $ 46,726,269.94
Second Priority Principal Payment $ 2,311,229.95 $ 2,311,229.95 $ 0.00 $ 0.00 $ 44,415,039.99
Interest - Class C Notes $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 44,415,039.99
Reserve Account Deposit $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 44,415,039.99
Regular Principal Payment $ 187,023,753.65 $ 44,415,039.99 $ 0.00 $ 0.00 $ 0.00
Additional Trustee and Other Fees/Expenses $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00
Residual Released to Depositor $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00
Total $ 53,188,373.18
Principal Payment:
First Priority Principal Payment $ 0.00
Second Priority Principal Payment $ 2,311,229.95
Regular Principal Payment $ 44,415,039.99
Total $ 46,726,269.94
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 $ 46,726,269.94 $ 141.59 $ 776,588.99 $ 2.35 $ 47,502,858.93 $ 143.94
Class A-2a Notes $ 0.00 $ 0.00 $ 1,080,000.00 $ 3.60 $ 1,080,000.00 $ 3.60
Class A-2b Notes $ 0.00 $ 0.00 $ 1,020,337.21 $ 4.16 $ 1,020,337.21 $ 4.16
Class A-3 Notes $ 0.00 $ 0.00 $ 1,848,458.33 $ 3.39 $ 1,848,458.33 $ 3.39
Class A-4 Notes $ 0.00 $ 0.00 $ 274,000.00 $ 3.43 $ 274,000.00 $ 3.43
Class B Notes $ 0.00 $ 0.00 $ 173,690.00 $ 3.67 $ 173,690.00 $ 3.67
Class C Notes $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 0.00
Total $ 46,726,269.94 $ 29.59 $ 5,173,074.53 $ 3.28 $ 51,899,344.47 $ 32.87
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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
Collection Period December 2024
Payment Date 1/15/2025
Transaction Month 4

V. NOTE BALANCE AND POOL INFORMATION
Beginning of Period End of Period
Balance Note Factor Balance Note Factor
Class A-1 Notes $ 189,334,983.60 0.5737424 $ 142,608,713.66 0.4321476
Class A-2a Notes $ 300,000,000.00 1.0000000 $ 300,000,000.00 1.0000000
Class A-2b Notes $ 245,000,000.00 1.0000000 $ 245,000,000.00 1.0000000
Class A-3 Notes $ 545,000,000.00 1.0000000 $ 545,000,000.00 1.0000000
Class A-4 Notes $ 80,000,000.00 1.0000000 $ 80,000,000.00 1.0000000
Class B Notes $ 47,370,000.00 1.0000000 $ 47,370,000.00 1.0000000
Class C Notes $ 31,570,000.00 1.0000000 $ 31,570,000.00 1.0000000
Total $ 1,438,274,983.60 0.9109117 $ 1,391,548,713.66 0.8813183
Pool Information
Weighted Average APR 4.748 % 4.754 %
Weighted Average Remaining Term 54.75 53.97
Number of Receivables Outstanding 41,026 40,350
Pool Balance $ 1,546,834,447.17 $ 1,499,581,718.35
Adjusted Pool Balance (Pool Balance - YSOC Amount) $ 1,448,090,741.04 $ 1,404,393,753.65
Pool Factor 0.9159396 0.8879595

VI. OVERCOLLATERALIZATION INFORMATION
Specified Reserve Balance $ 3,947,369.66
Yield Supplement Overcollateralization Amount $ 95,187,964.70
Targeted Overcollateralization Amount $ 126,766,922.00
Actual Overcollateralization Amount (EOP Pool Balance - EOP Note Balance) $ 108,033,004.69

VII. RECONCILIATION OF RESERVE ACCOUNT
Beginning Reserve Account Balance $ 3,947,369.66
Reserve Account Deposits Made $ 0.00
Reserve Account Draw Amount $ 0.00
Ending Reserve Account Balance $ 3,947,369.66
Change in Reserve Account Balance $ 0.00
Specified Reserve Balance $ 3,947,369.66

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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
Collection Period December 2024
Payment Date 1/15/2025
Transaction Month 4
VIII. NET LOSS AND DELINQUENT RECEIVABLES
# of Receivables Amount
Current Collection Period Loss:
Realized Loss (Charge-Offs) 61 $ 270,702.42
(Recoveries) 4 $ 4,034.89
Net Loss for Current Collection Period $ 266,667.53
Ratio of Net Loss for Current Collection Period to Beginning of Period Pool Balance (annualized) 0.2069 %
Prior and Current Collection Periods Average Loss:
Ratio of Net Loss to the Average Pool Balance (annualized)
Third Prior Collection Period 0.0002 %
Second Prior Collection Period 0.0231 %
Prior Collection Period 0.2581 %
Current Collection Period 0.2101 %
Four Month Average (Current and Prior Three Collection Periods) 0.1229 %
Cumulative Loss:
Cumulative Realized Loss (Charge-Offs) 203 $ 645,041.09
(Cumulative Recoveries) $ 9,336.98
Cumulative Net Loss for All Collection Periods $ 635,704.11
Ratio of Cumulative Net Loss for all Collection Periods to Initial Pool Balance 0.0376 %
Average Realized Loss for Receivables that have experienced a Realized Loss $ 3,177.54
Average Net Loss for Receivables that have experienced a Realized Loss $ 3,131.55
% of EOP Pool Balance # of Receivables Amount
Delinquent Receivables:
31-60 Days Delinquent 0.61 % 201 $ 9,079,287.66
61-90 Days Delinquent 0.06 % 22 $ 930,349.18
91-120 Days Delinquent 0.03 % 10 $ 472,522.80
Over 120 Days Delinquent 0.00 % 1 $ 33,005.67
Total Delinquent Receivables 0.70 % 234 $ 10,515,165.31
Repossession Inventory:
Repossessed in the Current Collection Period 9 $ 432,651.74
Total Repossessed Inventory 13 $ 615,315.62
Number of 61+ Delinquent Receivables to EOP Number of Outstanding Receivables:
Second Prior Collection Period 0.0288 %
Prior Collection Period 0.0634 %
Current Collection Period 0.0818 %
Three Month Average 0.0580 %
Delinquency Trigger (61+ Delinquent Receivables)
Transaction Month Trigger
1-12 0.80%
13-24 1.30%
25-36 2.40%
37+ 4.75%
61+ Delinquent Receivables Balance to EOP Pool Balance 0.0958 %
Delinquency Trigger Occurred No
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Ford Credit Auto Owner Trust 2024-C
Monthly Investor Report
Collection Period December 2024
Payment Date 1/15/2025
Transaction Month 4

Receivables Granted Extensions in the Current Collection Period: # of Receivables Amount
1 Month Extended 149 $7,004,877.67
2 Months Extended 153 $7,503,043.08
3+ Months Extended 11 $349,397.39
Total Receivables Extended 313 $14,857,318.14
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 5, 2024
X. FLOATING RATE BENCHMARK: BENCHMARK TRANSITION
Benchmark Transition Event: N/A
Benchmark Replacement Date: N/A
Unadjusted Benchmark Replacement: N/A
Benchmark Replacement Adjustment: N/A
Benchmark Replacement Conforming Changes: N/A
SERVICER CERTIFICATION
THIS REPORT IS ACCURATE IN ALL MATERIAL RESPECTS.
Ford Motor Credit Company LLC
/s/ Ryan M. Hershberger
Assistant Treasurer

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