# EDGAR Filing Document

**Accession Number:** 0001182534
**File Stem:** 0001104659-23-034340
**Filing Date:** 2023-3
**Character Count:** 21349
**Document Hash:** fcbb1a114062d12dc924c495c15d7c13
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-034340.hdr.sgml**: 20230320

**ACCESSION NUMBER**: 0001104659-23-034340

**CONFORMED SUBMISSION TYPE**: 10-D

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230228

**FILED AS OF DATE**: 20230320

**DATE AS OF CHANGE**: 20230320

**ABS ASSET CLASS**: Auto leases

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Volkswagen Auto Lease Trust 2022-A
- **CENTRAL INDEX KEY:** 0001916379
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 10-D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-249906-02
- **FILM NUMBER:** 23745413

**BUSINESS ADDRESS:**
- **STREET 1:** 2200 WOODLAND POINTE AVENUE
- **CITY:** HERNDON
- **STATE:** VA
- **ZIP:** 20171
- **BUSINESS PHONE:** (703) 364-7325

**MAIL ADDRESS:**
- **STREET 1:** 2200 WOODLAND POINTE AVENUE
- **CITY:** HERNDON
- **STATE:** VA
- **ZIP:** 20171
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC
- **CENTRAL INDEX KEY:** 0001182534
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 113650483
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 10-D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-99199
- **FILM NUMBER:** 23745414

**BUSINESS ADDRESS:**
- **STREET 1:** 2200 WOODLAND POINTE AVENUE
- **CITY:** HERNDON
- **STATE:** VA
- **ZIP:** 20171
- **BUSINESS PHONE:** (703) 364-7325

**MAIL ADDRESS:**
- **STREET 1:** 2200 WOODLAND POINTE AVENUE
- **CITY:** HERNDON
- **STATE:** VA
- **ZIP:** 20171

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VOLKSWAGEN AUTO LEASE UNDERWRITTEN FUNDING LLC
- **DATE OF NAME CHANGE:** 20020823

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

**FORM 10-D**

**ASSET-BACKED ISSUER<br> DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF<br> THE SECURITIES EXCHANGE ACT OF 1934**

For the monthly distribution period from<br> February 01, 2023 to February 28, 2023

Commission File Number of issuing entity: 333-249906-02 <br>Commission Index Key Number of issuing entity: 0001916379

**Volkswagen Auto Lease Trust 2022-A**

(Exact name of issuing entity as specified in its charter)

Commission File Number of the depositor: 333-249906 <br>Commission Index Key Number of the depositor: 0001182534

**Volkswagen Auto Lease/Loan Underwritten Funding, LLC**

(Exact name of depositor as specified in its charter)

Central Index Key Number of sponsor (if applicable): 0000833733

**VW Credit, Inc.**<br>

(Exact name of sponsor as specified in its charter)

---

| | |
|:---|:---|
| Delaware <br> (State or other jurisdiction of incorporation<br> or organization of the issuing entity) | Delaware <br> (State or other jurisdiction of incorporation<br> or organization of the issuing entity) |
| 88-6177185 | 88-6177185 |
| (I.R.S. Employer Identification No.) | (I.R.S. Employer Identification No.) |
| 2200 Woodland Pointe Avenue, <br> Herndon, Virginia | 20171 |
| (Address of principal executive offices of the issuing entity) | (Zip Code) |

---

(703) 364-7000

(Telephone number, including area code)

N/A

(Former name, former address, if changed since last report)

Registered/reporting pursuant to (check one)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  |  | &nbsp;&nbsp;Name of exchange |
| &nbsp;&nbsp;Title of class | &nbsp;&nbsp;Section 12(b) | &nbsp;&nbsp;Section 12(g) | &nbsp;&nbsp;Section 15(d) | &nbsp;&nbsp;(If Section 12(b)) |
| &nbsp;&nbsp;Class A-1 Notes |  |  | &nbsp;&nbsp;⌧ |  |
| &nbsp;&nbsp;Class A-2-A Notes |  |  | &nbsp;&nbsp;⌧ |  |
| &nbsp;&nbsp;Class A-2-B Notes |  |  | &nbsp;&nbsp;⌧ |  |
| &nbsp;&nbsp;Class A-3 Notes |  |  | &nbsp;&nbsp;⌧ |  |
| &nbsp;&nbsp;Class A-4 Notes |  |  | &nbsp;&nbsp;⌧ |  |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ⌧ No ◻

**PART I—DISTRIBUTION INFORMATION**

**Item 1. Distribution and Pool Performance Information.**

Distribution and pool performance information with respect to the receivables that comprise the assets of Volkswagen Auto Lease Trust 2022-A is set forth in the monthly servicer's certificate attached as Exhibit 99.1.

**Item 1A. Asset-Level Information**

The Asset Data File and Asset Related Document filed as Exhibit 102 and Exhibit 103, respectively, to the Form ABS-EE filed by the issuing entity, Volkswagen Auto Lease Trust 2022-A, on March 20, 2023 are hereby incorporated by reference into this Form 10-D.

**PART II—OTHER INFORMATION**

**Item 2. Legal Proceedings.**

Not applicable

**Item 3. Sales of Securities and Use of Proceeds.**

Not applicable

**Item 4. Defaults Upon Senior Securities.**

Not applicable

**Item 5. Submission of Matters to a Vote of Security Holders.**

Not applicable

**Item 6. Significant Obligors of Pool Assets.**

Not applicable

**Item 7. Change in Sponsor Interest in Securities.**

Not applicable

**Item 8. Significant Enhancement Provider Information.**

Not applicable

**Item 9. Other Information.**

No assets securitized by VW Credit, Inc. (the "Securitizer") and held by Volkswagen Auto Lease Trust 2022-A were the subject of a demand to repurchase or replace for breach of the representations and warranties during the distribution period from February 01, 2023 to February 28, 2023. Please refer to the Form ABS-15G dated February 10, 2023 filed by the Securitizer for additional information. The CIK number of the Securitizer is 0000833733.

**Item 10. Exhibits.**

---

| | |
|:---|:---|
| &nbsp;&nbsp;[Exhibit 99.1](tm239593d6_ex99-1.htm) | [Monthly Distribution report for the collection period commencing on February 01, 2023 and ending on February 28, 2023.](tm239593d6_ex99-1.htm) |
| &nbsp;&nbsp;[Exhibit 102](https://www.sec.gov/Archives/edgar/data/1182534/000110465923034300/tm239593d2_ex102.xml) | [Asset Data File for the reporting period February 01, 2023 to February 28, 2023 (Exhibit 102 to Form ABS-EE filed by Volkswagen Auto Lease Trust 2022-A with the SEC on March 20, 2023 is incorporated by reference herein).](https://www.sec.gov/Archives/edgar/data/1182534/000110465923034300/tm239593d2_ex102.xml) |
| &nbsp;&nbsp;[Exhibit 103](https://www.sec.gov/Archives/edgar/data/1182534/000110465923034300/tm239593d2_ex103.xml) | [Asset Data File for the reporting period February 01, 2023 to February 28, 2023 (Exhibit 103 to Form ABS-EE filed by Volkswagen Auto Lease Trust 2022-A with the SEC on March 20, 2023 is incorporated by reference herein).](https://www.sec.gov/Archives/edgar/data/1182534/000110465923034300/tm239593d2_ex103.xml) |

---

**<u>Signature</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| March 20, 2023 | Volkswagen Auto LEASE TRUST 2022-A | Volkswagen Auto LEASE TRUST 2022-A |
|  | By VW Credit, Inc., as Servicer | By VW Credit, Inc., as Servicer |
|  | By: | /s/ Jodi Jay |
|  | Name: | Jodi Jay |
|  | Title: | Sr. Director Financial Reporting |

---

## Exhibit 99.1

**Exhibit 99.1**

---

| | |
|:---|:---|
| **Volkswagen Auto Lease Trust 2022-A** |  |
| **MONTHLY SERVICER CERTIFICATE** |  |
| **For the collection period ended 02-28-23** | &nbsp;&nbsp;PAGE 1 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **A.** | **DATES** | Begin | End | # days |
| 1 | Determination Date |  | 3/16/2023 |  |
| 2 | Payment Date |  | 3/20/2023 |  |
| 3 | Collection Period | 2/1/2023 | 2/28/2023 | 28 |
| 4 | Monthly Interest Period- Actual | 2/21/2023 | 3/19/2023 | 27 |
| 5 | Monthly Interest - 30/360 |  |  | 30 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **B.** | **SUMMARY** | | | | | | |
|  |  | <br> ***Principal Payment*** | <br> ***Principal Payment*** | <br> ***Principal Payment*** | <br> ***Principal Payment*** | <br> ***Principal Payment*** | <br> ***Principal Payment*** |
|  |  | **Initial Balance** | **Beginning Balance** | **1st Priority** | **Regular** | **Ending Balance** | **Note Factor** |
| 6 | Class A-1 Notes | 151000000.00 |  |  |  |  |  |
| 7 | Class A-2 Notes | 385000000.00 | 315672723.65 |  | 21179602.29 | 294493121.36 | 0.7649172 |
| 8 | Class A-3 Notes | 385000000.00 | 385000000.00 |  |  | 385000000.00 | 1.0000000 |
| 9 | Class A-4 Notes | 79000000.00 | 79000000.00 | - | - | 79000000.00 | 1.0000000 |
| 10 | **Equals: Total Securities** | $**1000000000.00** | $**779672723.65** | $**-** | $**21179602.29** | $**758493121.36** |  |
| 11 | Overcollateralization | 162791075.45 | 186046572.07 |  |  | 186046572.07 |  |
| 12 | **Total Securitization Value** | $**1162791075.45** | $**965719295.72** |  | $**21179602.29** | $**944539693.43** |  |
| 13 | NPV Lease Payments Receivable | 525552923.13 | 333461073.90 |  |  | 313644319.33 |  |
| 14 | NPV Base Residual | 637238152.32 | 632258221.82 |  |  | 630895374.10 |  |
| 15 | Number of Leases | 40751 | 37627 |  |  | 37244 |  |
|  |  |  |  |  | ***Per $1000*** | ***Principal & Interest*** | ***Per $1000*** |
|  |  | ***Coupon Rate*** | ***Libor Rate*** | ***Interest Pmt Due*** | ***Face Amount*** | ***Payment Due*** | ***Face Amount*** |
| 16 | Class A-1 Notes | 1.72100% | N/A |  |  |  |  |
| 17 | Class A-2 Notes | 3.02000% | N/A | 794443.02 | 2.0634884 | 21974045.31 | 57.0754424 |
| 18 | Class A-3 Notes | 3.44000% | N/A | 1103666.67 | 2.8666667 | 1103666.67 | 2.8666667 |
| 19 | Class A-4 Notes | 3.65000% | N/A | 240291.67 | 3.0416667 | 240291.67 | 3.0416667 |
|  | **Equals: Total Securities** |  |  | **2138401.35** |  | **23318003.64** |  |

---

---

| | | |
|:---|:---|:---|
| **C.** | COLLECTIONS AND AVAILABLE FUNDS |  |
| 20 | Lease Payments Received | 19291593.39 |
| 21 | Pull Ahead Waived Payments |  |
| 22 | Sales Proceeds - Early Terminations | 10255944.28 |
| 23 | Sales Proceeds - Scheduled Terminations | 50549.55 |
| 24 | Security Deposits for Terminated Accounts | 300.00 |
| 25 | Excess Wear and Tear Received | 148.00 |
| 26 | Excess Mileage Charges Received | 7177.03 |
| 27 | Proceeds Received on Defaulted Leases and Other Recoveries | 134592.27 |
| 28 | **Subtotal: Total Collections** | 29740304.52 |
| 29 | Repurchase Payments |  |
| 30 | Postmaturity Term Extension |  |
| 31 | Investment Earnings on Collection Account | 128226.70 |
| 32 | **Total Available Funds, prior to Servicer Advances** | 29868531.22 |
| 33 | Servicer Advance | - |
| 34 | **Total Available Funds** | 29868531.22 |
| 35 | Reserve Account Draw | - |
| 36 | **Available for Distribution** | 29868531.22 |

---

---

| | | | |
|:---|:---|:---|:---|
| **D.** | **DISTRIBUTIONS** | | |
| 37 | Payment Date Advance Reimbursement (Item 82) |  |  |
| 38 | Servicing Fee (Servicing and Administrative Fees paid pro rata): |  |  |
| 39 | &nbsp;&nbsp;&nbsp;&nbsp;Servicing Fee Shortfall from Prior Periods |  |  |
| 40 | &nbsp;&nbsp;&nbsp;&nbsp;Servicing Fee Due in Current Period |  | 804766.08 |
| 41 | &nbsp;&nbsp;&nbsp;&nbsp;Servicing Fee Shortfall |  |  |
| 42 | Administration Fee (Servicing and Administrative Fees paid pro rata): |  |  |
| 43 | &nbsp;&nbsp;&nbsp;&nbsp;Administration Fee Shortfall from Prior Periods |  |  |
| 44 | &nbsp;&nbsp;&nbsp;&nbsp;Administration Fee Due in Current Period |  | 2500.00 |
| 45 | &nbsp;&nbsp;&nbsp;&nbsp;Administration Fee Shortfall |  |  |
| 46 | Interest Shortfall from Prior Periods |  |  |
| 47 | Interest Paid to Noteholders |  | 2138401.35 |
| 48 | First Priority Principal Distribution Amount |  |  |
| 49 | Amount Paid to Reserve Account to Reach Specified Balance |  |  |
| 50 | Subtotal: Remaining Available Funds | 26922863.79 |  |
| 51 | Regular Principal Distribution Amount | 21179602.29 |  |
| 52 | Regular Principal Paid to Noteholders (lesser of Item 50 and Item 51) |  | 21179602.29 |
| 53 | Amounts paid to indenture, owner, and origination trustee and asset representations reviewer |  | - |
| 54 | **Remaining Available Funds** |  | 5743261.50 |

---

---

| | |
|:---|:---|
| **Volkswagen Auto Lease Trust 2022-A** |  |
| **MONTHLY SERVICER CERTIFICATE** |  |
| **For the collection period ended 02-28-23** | &nbsp;&nbsp;PAGE 2 |

---

---

| | | |
|:---|:---|:---|
| **E.** | **CALCULATIONS** | |
| 55 | **Calculation of First Priority Principal Distribution Amount:** |  |
| 56 | Outstanding Principal Amount of the Notes (Beg. Of Collection Period) | 779672723.65 |
| 57 | Less: Aggregate Securitization Value (End of Collection Period) | (944539693.43) |
| 58 | **First Priority Principal Distribution Amount (not less than zero)** | - |
| 59 | **Calculation of Regular Principal Distribution Amount:** |  |
| 60 | Outstanding Principal Amount of the Notes (Beg. Of Collection Period) | 779672723.65 |
| 61 | Less: Targeted Note Balance | (758493121.36) |
| 62 | Less: First Priority Principal Distribution Amount | - |
| 63 | **Regular Principal Distribution Amount** | 21179602.29 |
| 64 | **Calculation of Targeted Note Balance:** |  |
| 65 | Aggregate Securitization Value (End of Collection Period) | 944539693.43 |
| 66 | Less: Targeted Overcollateralization Amount (16.00% of Initial Securitization Value) | (186046572.07) |
| 67 | **Targeted Note Balance** | 758493121.36 |
| 68 | **Calculation of Servicer Advance:** |  |
| 69 | Available Funds, prior to Servicer Advances (Item 32) | 29868531.22 |
| 70 | Less: Payment Date Advance Reimbursement (Item 82) |  |
| 71 | Less: Servicing Fees Paid (Items 39, 40 and 41) | 804766.08 |
| 72 | Less: Administration Fees Paid (Items 43, 44 and 45) | 2500.00 |
| 73 | Less: Interest Paid to Noteholders (Item 47) | 2138401.35 |
| 74 | Less: 1st Priority Principal Distribution (Item 58) | - |
| 75 | Equals: Remaining Available Funds before Servicer Advance (If < 0, Available Funds Shortfall) | 26922863.79 |
| 76 | Monthly Lease Payments Due on Included Units but not received (N/A if Item 75 > 0) | N/A |
| 77 | **Servicer Advance (If Item 75 < 0, lesser of Item 76 and absolute value of Item 75, else 0)** | - |
| 78 | Total Available Funds after Servicer Advance (Item 76plus Item 77) | 26922863.79 |
| 79 | **Reserve Account Draw Amount (If Item 78 is < 0, Lesser of the Reserve Account Balance and Item 78)** | - |
| 80 | **Reconciliation of Servicer Advance:** |  |
| 81 | Beginning Balance of Servicer Advance |  |
| 82 | Payment Date Advance Reimbursement |  |
| 83 | Additional Payment Advances for current period | - |
| 84 | Ending Balance of Payment Advance | - |

---

---

| | | | |
|:---|:---|:---|:---|
| **F.** | **RESERVE ACCOUNT** | | |
| 85 | **Reserve Account Balances:** |  |  |
| 86 | Targeted Reserve Account Balance |  | 2906977.69 |
| 87 | Initial Reserve Account Balance |  | 2906977.69 |
| 88 | Beginning Reserve Account Balance |  | 2906977.69 |
| 89 | Plus: Net Investment Income for the Collection Period |  | 9705.26 |
| 90 | Subtotal: Reserve Fund Available for Distribution |  | 2916682.95 |
| 91 | Plus: Deposit of Excess Available Funds to reach Specified Balance (Item 49) |  |  |
| 92 | Less: Reserve Account Draw Amount (Item 79) |  | - |
| 93 | Subtotal Reserve Account Balance |  | 2916682.95 |
| 94 | Less: Excess Reserve Account Funds to Transferor (If Item 93> Item 86) |  | 9705.26 |
| 95 | **Equals: Ending Reserve Account Balance** |  | 2906977.69 |
| 96 | **Change in Reserve Account Balance from Immediately Preceding Payment Date** |  | - |
| 97 | Current Period Net Residual Losses: | ***Units*** | ***Amounts*** |
| 98 | Aggregate Securitization Value for Scheduled Terminated Units | 2 | 47529.71 |
| 99 | Less: Aggregate Sales Proceeds and Other Collections for Current Month Scheduled Terminated Units |  | (52416.47) |
| 100 | Less: Aggregate Sales Proceeds & Recoveries for Prior Month Scheduled Terminated Units |  |  |
| 101 | Less: Excess Wear and Tear Received |  | (148.00) |
| 102 | Less: Excess Mileage Received |  | (7177.03) |
| 103 | **Current Period Net Residual Losses/(Gains)** | 2 | (12211.79) |
| 104 | Cumulative Net Residual Losses: |  |  |
| 105 | Beginning Cumulative Net Residual Losses | 3 | (36255.34) |
| 106 | Current Period Net Residual Losses (Item 103) | 2 | (12211.79) |
| 107 | Ending Cumulative Net Residual Losses | 5 | (48467.13) |
| 108 | **Cumulative Net Residual Losses/(Gains) as a % of Aggregate Initial Securitization Value** |  | 0.00% |

---

---

| | |
|:---|:---|
| **Volkswagen Auto Lease Trust 2022-A** |  |
| **MONTHLY SERVICER CERTIFICATE** |  |
| **For the collection period ended 02-28-23** | &nbsp;&nbsp;PAGE 3 |

---

---

| | | | |
|:---|:---|:---|:---|
| **G.** | **POOL STATISTICS** | | |
| 109 | **Collateral Pool Balance Data** | ***Initial*** | *Current* |
| 110 | Aggregate Securitization Value | 1162791075.45 | 944539693.43 |
| 111 | Aggregate Base Residual Value | 790858748.94 | 724218803.75 |
| 112 | Number of Current Contracts | 40751 | 37244 |
| 113 | Weighted Average Lease Rate | 2.83% | 2.79% |
| 114 | Average Remaining Term | 26.4 | 16.4 |
| 115 | Average Original Term | 40.5 | 40.5 |
| 116 | Proportion of Base Prepayment Assumption Realized |  | 50.61% |
| 117 | Actual Monthly Prepayment Speed |  | 0.78% |
| 118 | Turn-in Ratio on Scheduled Terminations |  | 50.00% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | ***Sales Proceeds*** | ***Units*** | ***Book Amount*** | ***Securitization Value*** |
| 119.0 | Pool Balance - Beginning of Period |  | 37627 | 1112184275.99 | 965719295.72 |
| 120.0 | Depreciation/Payments |  |  | (17157756.32) | (11757880.22) |
| 121.0 | Gross Credit Losses |  | (14) | (434125.08) | (404780.25) |
| 122.0 | Early Terminations - Purchased by Customer |  | (54) | (1634055.65) | (1427569.31) |
| 123.0 | Early Terminations - Sold at Auction |  |  |  |  |
| 124.0 | Early Terminations - Purchased by Dealer |  | (313) | (8570905.62) | (7541842.80) |
| 125.0 | Early Terminations - Lease Pull Aheads |  |  |  |  |
| 126.0 | Scheduled Terminations - Purchased by Customer | 29760 | (1) | (30893.38) | (30038.99) |
| 127.0 | Scheduled Terminations - Sold at Auction |  |  |  |  |
| 128.0 | Scheduled Terminations - Purchased by Dealer | 20790 | (1) | (20790.00) | (17490.72) |
| 129.0 | **Pool Balance - End of Period** |  | 37244 | 1084335749.94 | 944539693.43 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| 130.0 | **Delinquencies Aging Profile - End of Period** | ***Units*** | ***Securitization Value*** | ***Percentage*** |
| 131.0 | Current | 36954 | 936299297.59 | 99.13% |
| 132.0 | 31 - 60 Days Delinquent | 210 | 5970924.45 | 0.63% |
| 133.0 | 61 - 90 Days Delinquent | 51 | 1379572.52 | 0.15% |
| 134.0 | 91+ Days Delinquent | 29 | 889898.87 | 0.09% |
| 135.0 | **Total** | 37244 | 944539693.43 | 100.00% |
| 136.0 | Delinquency Trigger |  |  | 6.86% |
| 137.0 | Delinquency Percentage (61 - Day Delinquent Receivables) |  |  | 0.24% |
| 138.0 | Delinquency Trigger occurred in this collection Period? |  |  | No |

---

---

| | | | |
|:---|:---|:---|:---|
| 139.0 | **Credit Losses:** | ***Units*** | ***Amounts*** |
| 140.0 | Aggregate Securitization Value on charged-off units | 14 | 404780.25 |
| 141.0 | Aggregate Liquidation Proceeds on charged-off units |  | (97651.13) |
| 142.0 | Aggregate Securitization Value on charged-off units previously categorized as Early Terminations |  |  |
| 143.0 | Aggregate Liquidation Proceeds on charged-off units previously categorized as Early Terminations |  |  |
| 144.0 | Recoveries on charged-off units |  | (36941.14) |
| 145.0 | **Current Period Aggregate Net Credit Losses/(Gains)** | 14 | 270187.98 |
| 146.0 | Cumulative Net Credit Losses: |  |  |
| 147.0 | Beginning Cumulative Net Credit Losses | 53 | 1071952.35 |
| 148.0 | Current Period Net Credit Losses (Item 145) | 14 | 270187.98 |
| 149.0 | **Ending Cumulative Net Credit Losses** | 67 | 1342140.33 |
| 150.0 | **Cumulative Net Credit Losses/(Gains) as a % of Aggregate Initial Securitization Value** |  | 0.12% |

---

---

| | | |
|:---|:---|:---|
| 151 | **Aging of Scheduled Maturies Not Sold** | ***Units*** |
| 152 | 1 - 60 Days since Contract Maturity | 1 |
| 153 | 61 - 120 Days since Contract Maturity |  |
| 154 | 121+ Days since Contract Maturity |  |

---

---

| | |
|:---|:---|
|  | ***Summary of Material Modifications, Extensions or Waivers*** |
|  | None in the current month |
|  | **Summary of Material Breaches of Representations or Warranties Related to Eligibility Criteria** |
|  | None in the current month |
|  | **Summary of Material Breaches by the Issuer of Transaction Covenants** |
|  | None in the current month |
|  | **Summary of Material Changes in Practices With respect to Charge-Offs, Collections and Management of Delinquent Receivables and the Effect of any Grace Period, Re-Aging, Re-Structuring, Partial Payments or Other Practices on Delinquency and Loss Experience** |
|  | None in the current month |
| **VW CREDIT, INC., as Servicer** | **VW CREDIT, INC., as Servicer** |

---