
Volkswagen Auto Lease Trust 2015-A
MONTHLY SERVICER CERTIFICATE
For the collection period ended 10-31-16			PAGE 1


*A. DATES*								Begin		End		# days
1	Determination Date										11/17/2016
2	Payment Date										11/21/2016
3	Collection Period								10/1/2016		10/31/2016		31
4	Monthly Interest Period- Actual								10/20/2016		11/20/2016		32
5	Monthly Interest- Scheduled												30

*B. SUMMARY*
						*Principal Payment*
		*Initial Balance*		*Beginning Balance*		*1st Priority*		*Regular*		*Ending Balance*		*Note Factor*
6	Class A-1 Notes		241,000,000.00		—		—		—		—		—
7	Class A-2-A Notes		225,000,000.00		19,251,314.37		—		16,085,281.11		3,166,033.26		0.0140713
8	Class A-2-B Notes		447,000,000.00		38,245,944.54		—		31,956,091.82		6,289,852.72		0.0140713
9	Class A-3 Notes		428,000,000.00		428,000,000.00		—		—		428,000,000.00		1.0000000
10	Class A-4 Notes		109,000,000.00		109,000,000.00		—		—		109,000,000.00		1.0000000

11	Equals: Total Securities		$1,450,000,000.00		$594,497,258.91		$—		$48,041,372.93		$546,455,885.98

12	Overcollateralization		260,919,447.67		286,579,007.48						286,579,007.48

13	Total Securitization Value		$1,710,919,447.67		$881,076,266.39						$833,034,893.46


14	NPV Lease Payments Receivable		738,790,911.57		166,791,351.65						148,003,432.11
15	NPV Base Residual		972,128,536.10		714,284,914.74						685,031,461.35

		*Coupon Rate*		*Libor Rate*		*Interest Pmt Due*		Per $1000 Face Amount		Principal & Interest Payment Due		Per $1000 Face Amount
16	Class A-1 Notes		0.25000%		N/A		—		—		—		—
17	Class A-2-A Notes		0.87000%		N/A		13,957.20		0.0620320		16,099,238.31		71.5521703
18	Class A-2-B Notes		0.84567%		0.52567%		28,749.73		0.0643171		31,984,841.55		71.5544554
19	Class A-3 Notes		1.25000%		N/A		445,833.33		1.0416667		445,833.33		1.0416667
20	Class A-4 Notes		1.42000%		N/A		128,983.33		1.1833333		128,983.33		1.1833333

	Equals: Total Securities						617,523.59				48,658,896.52


C. COLLECTIONS AND AVAILABLE FUNDS
21	Lease Payments Received												18,462,329.36
22	Pull Ahead Waived Payments												1,954.26
23	Sales Proceeds - Early Terminations												12,809,127.88
24	Sales Proceeds via Customer - Scheduled Terminations												16,840,036.70
25	Security Deposits for Terminated Accounts												9,575.00
26	Excess Wear and Tear Received												246,756.69
27	Excess Mileage Charges Received												204,059.95
28	Other Recoveries Received												164,198.82

29	Subtotal: Total Collections												48,738,038.66

30	Repurchase Payments												—
31	Postmaturity Term Extension												—
32	Investment Earnings on Collection Account												20,005.69

33	Total Available Funds, prior to Servicer Advances												48,758,044.35

34	Servicer Advance * Unreimbursable Servicer Advance												640,082.39

35	Total Available Funds												49,398,126.74

36	Reserve Account Draw												—

37	Available for Distribution												49,398,126.74


*D. DISTRIBUTIONS*
38	Payment Date Advance Reimbursement (Item 82)												—
39	Servicing Fee (Servicing and Administrative Fees paid pro rata):
40	Servicing Fee Shortfall from Prior Periods												—
41	Servicing Fee Due in Current Period												734,230.22
42	Servicing Fee Shortfall												—
43	Administration Fee (Servicing and Administrative Fees paid pro rata):
44	Administration Fee Shortfall from Prior Periods												—
45	Administration Fee Due in Current Period												5,000.00
46	Administration Fee Shortfall												—
47	Interest Paid to Noteholders												617,523.59
48	First Priority Principal Distribution Amount												—
49	Amount Paid to Reserve Account to Reach Specified Balance												—
50	Subtotal: Remaining Available Funds										48,041,372.93
51	Regular Principal Distribution Amount										48,041,372.93
52	Regular Principal Paid to Noteholders (lesser of Item 50 and Item 51)												48,041,372.93
53	Other Amounts paid to Trustees												—

54	Remaining Available Funds												—

Volkswagen Auto Lease Trust 2015-A

MONTHLY SERVICER CERTIFICATE

For the collection period ended 10-31-16

PAGE 2


*E. CALCULATIONS*
55	Calculation of First Priority Principal Distribution Amount:
56	Outstanding Principal Amount of the Notes (Beg. Of Collection Period)				594,497,258.91
57	Less: Aggregate Securitization Value (End of Collection Period)				(833,034,893.46	)

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)				594,497,258.91
61	Less: First Priority Principal Distribution Amount				—
62	Less: Targeted Note Balance				(546,455,885.98	)

63	Regular Principal Distribution Amount				48,041,372.93


64	Calculation of Targeted Note Balance:
65	Aggregate Securitization Value (End of Collection Period)				833,034,893.46
66	Less: Targeted Overcollateralization Amount (16.75% of Initial Securitization Value)				(286,579,007.48	)

67	Targeted Note Balance				546,455,885.98


68	Calculation of Servicer Advance:
69	Available Funds, prior to Servicer Advances (Item 33)				48,758,044.35
70	Less: Payment Date Advance Reimbursement (Item 82)				—
71	Less: Servicing Fees Paid (Items 39, 40 and 41)				734,230.22
72	Less: Administration Fees Paid (Items 44, 45 and 46)				5,000.00
73	Less: Interest Paid to Noteholders (Item 47)				617,523.59
74	Less: 1st Priority Principal Distribution (Item 58)				—

75	Equals: Remaining Available Funds before Servicer Advance (If < 0, Available Funds Shortfall)				47,401,290.54
76	Monthly Lease Payments Due on Included Units but not received (N/A if Item 73 > 0)				N/A

77	Servicer Advance (If Item 75 < 0, lesser of Item 76 and absolute value of Item 75, else 0)				—

	Servicer Advance (1)				640,082.39

78	Total Available Funds after Servicer Advance (Item 75 plus Servicer Advance (1) )				48,041,372.93

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				80,554,597.24
87	Initial Reserve Account Balance				8,554,597.24

88	Beginning Reserve Account Balance				8,554,597.24
89	Plus: Net Investment Income for the Collection Period				22,914.42

90	Subtotal: Reserve Fund Available for Distribution				8,577,511.66
91	Plus: Deposit of Excess Available Funds to reach Specified Balance (Item 49)				72,000,000.00
92	Less: Reserve Account Draw Amount (Item 77)				—

93	Subtotal Reserve Account Balance				80,577,511.66
94	Less: Excess Reserve Account Funds to Transferor (If Item 91 > Item 84)				22,914.42

95	Equals: Ending Reserve Account Balance				80,554,597.24


		*Units*		*Amounts*
96	Current Period Net Residual Losses:
97	Aggregate Securitization Value for Scheduled Terminated Units		1,231		20,714,757.16
98	Less: Aggregate Sales Proceeds for Current Month Scheduled Terminated Units				(16,980,443.68	)
99	Less: Aggregate Sales Proceeds & Recoveries for Prior Month Scheduled Terminated Units				(253,435.87	)
100	Less: Excess Wear and Tear Received				(246,756.69	)
101	Less: Excess Mileage Received				(204,059.95	)

102	Current Period Net Residual Losses/(Gains)		1,231		3,030,060.97

103	Cumulative Net Residual Losses:
104	Beginning Cumulative Net Residual Losses		7,965		13,803,472.08
105	Current Period Net Residual Losses (Item 101)		1,231		3,030,060.97

106	Ending Cumulative Net Residual Losses		9,196		16,833,533.05

107	Cumulative Net Residual Losses/(Gains) as a % of Aggregate Initial Securitization Value				0.98%

Volkswagen Auto Lease Trust 2015-A

MONTHLY SERVICER CERTIFICATE

For the collection period ended 10-31-16

PAGE 3


*G. POOL STATISTICS*
							*Initial*			Current
108	Collateral Pool Balance Data
109	Aggregate Securitization Value							1,710,919,448			833,034,893
110	Aggregate Base Residual Value							1,148,071,534			722,624,470
111	Number of Current Contracts							69,355			42,719
112	Weighted Average Lease Rate							2.64%			2.61%
113	Average Remaining Term							28.6			8.5
114	Average Original Term							39.2			39.1
115	Proportion of Base Prepayment Assumption Realized										136.64%
116	Actual Monthly Prepayment Speed										1.13%
117	Turn-in Ratio on Scheduled Terminations										94.15%

		*Sales Proceeds*		*Units*			*Book Amount*			*Securitization Value*
118	Pool Balance - Beginning of Period				44,708			997,058,442			881,076,266
119	Depreciation/Payments							(15,118,394	)		(12,130,275	)
120	Gross Credit Losses				(42	)		(839,765	)		(801,209	)
121	Early Terminations - Regular				(707	)		(16,083,508	)		(14,183,623	)
122	Early Terminations - Lease Pull Aheads				(9	)		(230,136	)		(211,509	)
123	Scheduled Terminations - Purchased by Customer		1,307,711		(72	)		(1,311,701	)		(1,216,713	)
124	Scheduled Terminations - Sold at Auction		3,140,323		(538	)		(8,312,457	)		(7,704,270	)
125	Scheduled Terminations - Purchased by Dealer		12,398,827		(621	)		(12,901,125	)		(11,793,773	)

126	Pool Balance - End of Period				42,719			942,261,356			833,034,893


				*Units*			*Securitization Value*			*Percentage*
127	Delinquencies Aging Profile - End of Period
128	Current				41,850			817,868,078			98.18%
129	31 - 90 Days Delinquent				744			12,955,450			1.56%
130	91+ Days Delinquent				125			2,211,366			0.27%

131	Total				42,719			833,034,893			100.00%


							*Units*			*Amounts*
132	Credit Losses:

133	Aggregate Securitization Value on charged-off units							42			801,209
134	Aggregate Liquidation Proceeds on charged-off units										(229,873	)
135	Aggregate Securitization Value on charged-off units previously categorized as Early Terminations										—
136	Aggregate Liquidation Proceeds on charged-off units previously categorized as Early Terminations										—
137	Recoveries on charged-off units										(164,199	)

138	Current Period Aggregate Net Credit Losses/(Gains)							42			407,137


139	Cumulative Net Credit Losses:
140	Beginning Cumulative Net Credit Losses							555			5,495,625
141	Current Period Net Credit Losses (Item 136)							42			407,137

142	Ending Cumulative Net Credit Losses							597			5,902,762

143	Cumulative Net Credit Losses/(Gains) as a % of Aggregate Initial Securitization Value										0.35%


										*Units*
144	Aging of Scheduled Maturies Not Sold
145	0 - 60 Days since Contract Maturity										2,213
146	61 - 120 Days since Contract Maturity										1,189
147	121+ Days since Contract Maturity										1,343

VW CREDIT, INC., as Servicer

Volkswagen Auto Lease Trust 2015-A

MONTHLY SERVICER CERTIFICATE

For the collection period ended 10-31-16

PAGE 4

SCHEDULED REDUCTION IN AGGREGATE SECURITIZATION VALUE


*Payment Date*	Scheduled Reduction (1)
12/20/2016		68,350,705
1/20/2017		35,589,816
2/20/2017		36,963,828
3/20/2017		44,576,209
4/20/2017		61,765,130
5/20/2017		58,888,193
6/20/2017		67,302,981
7/20/2017		76,789,235
8/20/2017		62,194,265
9/20/2017		57,052,992
10/20/2017		53,656,686
11/20/2017		51,525,685
12/20/2017		45,265,036
1/20/2018		22,581,164
2/20/2018		17,529,785
3/20/2018		16,395,663
4/20/2018		13,909,552
5/20/2018		11,770,155
6/20/2018		9,033,466
7/20/2018		4,495,388
8/20/2018		3,508,233
9/20/2018		2,968,057
10/20/2018		4,249,398
11/20/2018		4,230,981
12/20/2018		2,368,324
1/20/2019		73,967
2/20/2019		—
3/20/2019		—
4/20/2019		—
5/20/2019		—
6/20/2019		—
7/20/2019		—
8/20/2019		—
9/20/2019		—
10/20/2019		—
11/20/2019		—
12/20/2019		—
1/20/2020		—
2/20/2020		—
3/20/2020		—
4/20/2020		—
5/20/2020		—
6/20/2020		—
7/20/2020		—
8/20/2020		—
9/20/2020		—
10/20/2020		—
11/20/2020		—
12/20/2020		—
1/20/2021		—
2/20/2021		—
3/20/2021		—
4/20/2021		—
5/20/2021		—
6/20/2021		—
7/20/2021		—
8/20/2021		—
9/20/2021		—

Total:		833,034,893.46

(1)	This column represents the monthly reduction in the Aggregate Securitization Value, assuming

(a)

each collection period is a calendar month rather than a fiscal month,

(b)

timely receipt of all monthly rental payments and sales proceeds,

(c)

no credit or residual losses and

(d)

no prepayments (including defaults, purchase option excercises or other early lease terminations).

Actual cash flows are likely to vary from these amounts.

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

(1)

Because of a safety recall affecting certain vehicles equipped with Takata airbags and an emissions-related stop-sale announcement by Volkswagen for vehicles containing certain diesel engines, as leases either terminate early or expire on time, the vehicles may not be sold by VCI until a remedy is effectuated. To address the delay in receipt of sales proceeds following termination or expiration of the related leases, VCI made a servicer advance to the issuing entity on the November Payment Date by depositing to the collection account an amount sufficient to ensure that the Regular Principal Distribution Amount for that date would be paid in full.

Volkswagen Auto Lease Trust 2015-A 10-D