TOYOTA AUTO FINANCE RECEIVABLES LLC 8-K

What Happened
On July 21, 2026, Toyota Auto Finance Receivables LLC (TAFR LLC) transferred certain motor‑vehicle retail installment sales contracts (the “Receivables”) to Toyota Auto Receivables 2026‑C Owner Trust (the Trust) and the Trust issued asset‑backed notes totaling $1,900,000,000. The Trust granted a security interest in the Receivables to the indenture trustee and issued six classes of notes (A‑1, A‑2a, A‑2b, A‑3, A‑4 and B). The transactions were effected under a series of material agreements (Receivables Purchase Agreement, Sale and Servicing Agreement, Amended and Restated Trust Agreement, Indenture and related administration and control agreements) and are described in the Final Prospectus dated July 14, 2026.

Key Details

• Closing Date: July 21, 2026. Notes issued on that date; related prospectus dated July 14, 2026.
• Total principal issued: $1,900,000,000, comprised of:
  • Class A‑1: $440,000,000
  • Class A‑2a: $528,000,000
  • Class A‑2b: $131,000,000
  • Class A‑3: $659,000,000
  • Class A‑4: $94,500,000
  • Class B: $47,500,000
• Seller of the receivables to TAFR LLC: Toyota Motor Credit Corporation (TMCC). TMCC also acts as servicer and sponsor under the Sale and Servicing Agreement.
• The filing adds and attaches the material agreements governing the sale, servicing, trust structure, indenture and reserve account control.

Why It Matters
This filing documents a securitization (packaging of auto loans into tradable securities) that provides funding and risk transfer for Toyota’s auto‑finance business. For investors, the important facts are the size ($1.9B), the parties (TMCC as seller/servicer and TAFR LLC/Trust as issuer), and the classes of notes issued — these determine payment priority and risk exposure to the underlying auto loans. If you follow Toyota‑related asset‑backed securities, this is a new issuance you may want to review (prospectus and the listed agreements) for details on credit enhancement, payment priority and servicer duties.