Form 10-D Exeter Automobile Receiv For: Jun 30

c/o Exeter Finance LLC

2101 W. John Carpenter Freeway

Irving, Texas

(Address of principal executive offices of the issuing entity)

 

 

75063
(Zip Code)

Name of exchange

Class A-1 Notes

Class A-2 Notes

Class A-3 Notes

Class B Notes

Class C Notes

Class D Notes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exeter Automobile Receivables Trust 2020-3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Class A-1 .21832% Asset Backed Notes

Class A-2 .46% Asset Backed Notes

Class A-3 .52% Asset Backed Notes

Class B .79% Asset Backed Notes

Class C 1.32% Asset Backed Notes

Class D 1.73% Asset Backed Notes

Class E 3.44% Asset Backed Notes

Class F 5.56% Asset Backed Notes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Servicer's Certificate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This Servicer's Certificate has been prepared pursuant to Section 4.9 of the Sale and Servicing Agreement among Exeter Holdings Trust 2020-3, as Holding Trust, Exeter Automobile Receivables Trust 2020-3, as Issuer, Exeter Finance LLC, as Servicer, EFCAR, LLC, as Seller, and Wells Fargo, N.A., as the Indenture Trustee and Backup Servicer, dated as of August 31, 2020. Defined terms have the meanings assigned to them in the Sale and Servicing Agreement or in other Transaction Documents.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collection Period Beginning:

 

 

 

 

 

 

 

 

 

Original

Collection Period Ending:

 

 

 

 

 

Purchases

Units

Cutoff Date

Closing Date

Pool Balance

Prev. Distribution Date (or Closing Date):

 

 

 

 

 

Initial Purchase

43,589

08/31/2020

09/23/2020

$708,603,517.04

Distribution Date:

 

 

 

 

 

 

 

 

 

 

Days of Interest for Period:

 

 

 

 

 

Total

43,589

08/31/2020

09/23/2020

$708,603,517.04

Days in Collection Period:

 

 

 

 

 

 

 

 

 

 

Months Seasoned:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I.

RECEIVABLES PRINCIPAL BALANCE CALCULATION:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{1}

Beginning of period Aggregate Principal Balance

 

 

 

 

 

{1}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collection Period principal amounts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{2}

Collections on Receivables

 

 

 

{2}

 

 

{3}

Less amounts allocable to interest and fees

 

 

 

{3}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{4}

Total cash principal amounts

 

 

 

 

{4}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{5}

Receivables becoming Liquidated Receivables during period (including Cram Down Losses)

 

{5}

 

 

{6}

Receivables becoming Purchased Receivables during period

 

{6}

 

 

{7}

Other Receivables adjustments

 

{7}

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{8}

Total non-cash principal amounts

 

 

{8}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{9}

End of period Aggregate Principal Balance 

 

 

{9}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{10}

Pool factor ({9} / Original Pool Balance)

 

 

{10}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

II.

NOTE BALANCE CALCULATION:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Class A-1

Class A-2

Class A-3

Class B

Class C

Class D

Class E

Class F

Total

{11}

Original Note Balance

 

{11}

$68,000,000.00

$161,400,000.00

$88,050,000.00

$92,120,000.00

$106,290,000.00

$68,020,000.00

$69,450,000.00

$28,340,000.00

$681,670,000.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{12}

Beginning of period Notes Balance

{12}

$0.00

$88,050,000.00

$92,120,000.00

$106,290,000.00

$68,020,000.00

$69,450,000.00

$28,340,000.00

{13}

First Allocation of Principal

{13}

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

{14}

Second Allocation of Principal

{14}

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

{15}

Third Allocation of Principal

{15}

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

{16}

Fourth Allocation of Principal

{16}

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

{17}

Fifth Allocation of Principal

{17}

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

{18}

Regular Allocation of Principal

{18}

$0.00

$20,690,412.67

$0.00

$0.00

$0.00

$0.00

$0.00

{19}

Optional Purchase payment amount

{19}

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

{20}

End of period Note Balance

{20}

$0.00

$92,120,000.00

$106,290,000.00

$68,020,000.00

$69,450,000.00

$28,340,000.00

{21}

Note Pool Factor

{21}

0.0000000%

76.5015188%

100.0000000%

100.0000000%

100.0000000%

100.0000000%

100.0000000%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

III.

CALCULATION OF INTEREST DISTRIBUTABLE AMOUNTS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning

Interest

Interest

 

 

Calculated

 

 

 

 

 

 

 

Class

Note Balance

Carryover

Rate

Days

Days Basis

Interest

 

 

 

 

 

 

{22}

Class A-1 

$0.00

$0.00

0.21832%

Actual / 360

$0.00

0.12

44484

 

 

 

 

{23}

Class A-2

$0.00

0.46%

30

30/360

0.48

44851

 

 

 

 

{24}

Class A-3

$88,050,000.00

$0.00

0.52%

30

30/360

$38,155.00

1.06

45215

 

 

 

 

{25}

Class B

$92,120,000.00

$0.00

0.79%

30

30/360

$60,645.67

1.69

45551

 

 

 

 

{26}

Class C

$106,290,000.00

$0.00

1.32%

30

30/360

$116,919.00

2.45

45853

 

 

 

 

{27}

Class D

$68,020,000.00

$0.00

1.73%

30

30/360

$98,062.17

3.22

46218

 

 

 

 

{28}

Class E

$69,450,000.00

$0.00

3.44%

30

30/360

$199,090.00

3.91

46251

 

 

 

 

{29}

Class F

$28,340,000.00

$0.00

5.56%

30

30/360

$131,308.67

4.06

46553

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IV.

RECONCILIATION OF COLLECTION ACCOUNT:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Available Funds:

 

 

 

 

 

 

 

 

 

 

 

{30}

Collections during period (excluding Liquidation Proceeds and Fees)

 

 

{30}

 

{31}

Liquidation Proceeds collected during period

 

 

{31}

 

{32}

Purchase Amounts or amounts from Servicer deposited in Collection Account

 

 

{32}

 

{33}

Investment Earnings - Collection Account

 

 

{33}

 

{34}

Investment Earnings - Transfer From Reserve Account

 

 

{34}

 

{35}

Fees collected during period

 

 

{35}

 

{36}

Other Amounts Received

 

 

{36}

$0.00

 

{37}

Reserve Account Withdrawal Amount

 

 

{37}

$0.00

 

{38}

Total Available Funds

 

 

 

{38}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Distributions:

 

 

 

 

 

 

 

 

 

 

 

{39}

Base Servicing Fee 

 

 

{39}

 

{40}

Recovery fees reimbursed to Servicer as Supplemental Servicing Fees

 

 

{40}

 

{41}

Fee collections (excluding extension fees) reimbursed to Servicer as Supplemental Servicing Fees

 

 

{41}

 

{42}

Other amounts due to Servicer

 

 

{42}

$0.00

 

{43}

Transition Fees to the successor Servicer

 

 

{43}

$0.00

 

{44}

Indenture Trustee Fees

 

 

{44}

 

{45}

Backup Servicing Fees

 

 

{45}

$3,500.00

 

{46}

Custodian Fees

 

 

{46}

$0.00

 

{47}

Asset Representations Reviewer Fees

 

 

{47}

$0.00

 

{48}

Lockbox Bank Fees

 

 

{48}

 

{49}

Owner Trustee Fees

 

 

{49}

$208.33

 

{50}

Class A Noteholders' Monthly Interest Distributable Amount

 

 

{50}

 

{51}

Class A Parity & Class A on Legal Final

 

 

{51}

 

{52}

Class B Noteholders' Monthly Interest Distributable Amount

 

 

{52}

 

{53}

Class A and B Parity & Class B on Legal Final

 

 

{53}

 

{54}

Class C Noteholders' Monthly Interest Distributable Amount

 

 

{54}

 

{55}

Class A, B and C Parity & Class C on Legal Final

 

 

{55}

 

{56}

Class D Noteholders' Monthly Interest Distributable Amount

 

 

{56}

 

{57}

Class A, B, C and D Parity & Class D on Legal Final

 

 

{57}

 

{58}

Class E Noteholders' Monthly Interest Distributable Amount

 

 

{58}

 

{59}

Class A, B, C, D and E Parity & Class E on Legal Final

 

 

{59}

 

{60}

Class F Noteholders' Monthly Interest Distributable Amount

 

 

{60}

 

{61}

Class A, B, C, D, E and F Parity & Class F on Legal Final

 

 

{61}

$0.00

 

{62}

To the Reserve Account, the Reserve Account Deposit

 

 

{62}

$0.00

 

{63}

Principal Payment Amount

 

 

{63}

 

{64}

Additional fees due to parties in excess of related limits 

 

 

{64}

$0.00

 

{65}

To the Certificateholders, the aggregate amount remaining

 

 

{65}

 

{66}

Total Distributions

 

 

 

{66}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

V.

CALCULATION OF PRINCIPAL PARITY AMOUNT:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(X)

(Y)

 

(I)

(II)

 

 

 

 

 

 

 

 

 

Cumulative

Pool

 

Excess of

Available Funds

Lesser of

 

 

 

 

 

 

 

Class

Note Balance

Balance

 

(X) - (Y)

in Waterfall

(I) or (II)

 

 

 

 

 

 

{67}

Class A

 

$0.00

$0.00

 

 

 

 

 

 

{68}

Class B

 

$0.00

$0.00

 

 

 

 

 

 

{69}

Class C

 

$0.00

$0.00

 

 

 

 

 

 

{70}

Class D

 

$0.00

$0.00

 

 

 

 

 

 

{71}

Class E

 

$0.00

$0.00

 

 

 

 

 

 

{72}

Class F

 

$0.00

$0.00

 

 

 

 

 

 

{73}

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

VI.

RECONCILIATION OF RESERVE ACCOUNT:

 

 

Initial

{74}

Specified Reserve Balance (2.0% of the Pool Balance as of the Cutoff Date)

 

 

{74}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{75}

Beginning of period Reserve Account balance 

 

 

{75}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{76}

Reserve Account Deposit from Collection Account    

 

{76}

$0.00

 

{77}

Investment Earnings - Reserve Account

 

{77}

 

{78}

Investment Earnings - transferred to Collection Account Available Funds

 

{78}

 

{79}

Reserve Account Withdrawal Amount

 

{79}

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{80}

End of period Reserve Account balance 

 

 

{80}

$14,172,070.34

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{81}

Reserve Account deficiency

 

 

{81}

$0.00

{82}

Reserve Account draw amount

 

 

{82}

$0.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

VII.

OVERCOLLATERALIZATION:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{83}

Target Overcollateralization Amount: (greater of)

 

 

{83}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{84}

(i) 

18% of the Pool Balance as of the end of the Collection Period

 

{84}

 

 

and

 

 

 

 

 

 

 

 

 

 

 

 

{85}

(ii) 

.50% of the Pool Balance as of the Cutoff Date

 

{85}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{86}

End of period Pool Balance of the Receivables

 

{86}

 

{87}

End of period Note Balance

 

{87}

 

{88}

Overcollateralization amount

 

 

{88}

{89}

Overcollateralization percentage

 

 

{89}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

VIII.

STATISTICAL DATA:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Original

 Previous

Current

{90}

Average Principal Balance of the Receivables

{90}

$16,256.48

{91}

Weighted average APR of the Receivables

{91}

21.11%

21.15%

{92}

Weighted average original term of the Receivables

{92}

70.13

70.18

{93}

Weighted average remaining term of the Receivables

{93}

66.81

{94}

Number of Receivables

{94}

43,589

 

 

 

 

 

 

 

 

 

 

 

 

 

IX.

CUMULATIVE NET LOSS RATIO:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{95}

Receivables becoming Liquidated Receivables during period  (including Cram Down Losses)

 

{95}

 

{96}

Net Liquidation Proceeds collected during period

 

{96}

 

{97}

Net losses during period

 

 

{97}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{98}

Net losses since Cutoff Date (end of period)

 

 

{98}

{99}

Cumulative net loss ratio

 

 

{99}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

X.

DELINQUENCY:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Receivables with scheduled payment delinquent

 

Units

Dollars

Percentage

{100}

31-60 days

{100}

{101}

61-90 days

{101}

977

{102}

over 90 days

{102}

403

{103}

Total

{103}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{104}

Aggregate Principal Balance of all Receivables that are more than 60 days delinquent

 

 

{104}

{105}

Delinquency Rate as of the end of the Collection Period

 

 

{105}

{106}

Delinquency Trigger

 

 

{106}

40.00%

{107}

Delinquency Trigger occurred

 

 

{107}

No

 

 

 

 

 

 

 

 

 

 

 

 

 

 

XI.

EXTENSIONS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

{108}

Principal Balance of Receivables extended during current period

 

{108}

 

{109}

Beginning of Period Aggregate Principal Balance

 

{109}

 

{110}

Extension Rate

 

 

{110}

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By:

 

 

 

 

 

 

 

 

 

 

Name:

 

 

 

 

 

 

 

 

 

 

Title:

 

 

 

 

 

 

 

 

 

 

Date:

 

July 13, 2021