**UNITED STATES**

**SECURITIES ANDEXCHANGE COMMISSION**

**Washington, D.C. 20549**

 

**FORM 10-K**

 

**(Mark One)**
| **ý** | **ANNUAL REPORT PURSUANT TO SECTION 13  OR 15(D) OF THE**                                                                                                                                                                                                                                | ** ** |
|------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|
|       | **SECURITIES EXCHANGE ACT OF 1934**                                                                                                                                                                                                                                                                | ** ** |
|       |                                                                                                                                                                                                                                                                                               |       |
|       | **For the fiscal year ended December 31,  2005**                                                                                                                                                                                                                                              | ** ** |
|       |                                                                                                                                                                                                                                                                                               |       |
| **o**      | **TRANSITION REPORT PURSUANT TO SECTION 13  OR 15(D) OF THE**                                                                                                                                                                                                                            | ** ** |
|       | **SECURITIES EXCHANGE ACT OF 1934**                                                                                                                                                                                                                                                                | ** ** |
|       | ** **                                                                                                                                                                                                                                                                                         | ** ** |
|       | **For the transition period  from                     to                     .** | ** ** |

 

**Commission file number:  333-98975-05**

 

**HARLEY-DAVIDSONMOTORCYCLE TRUST 2005-2**

**(Harley-DavidsonCustomer Funding Corp)**

(Exact name of registrant as specified in itscharter)

 

| **Delaware**                                                    | ** ** | **51-6566802**                        |
|-----------------------------------------------------------------|------------|---------------------------------------|
| (State or other jurisdiction of  incorporation or organization) |       | (I.R.S. Employer Identification  No.) |

 

**Rodney Square North**

**1100 North Market Street**

**Wilmington, Delaware    19890-0001**

(Address of principal executive offices) (zip code)

 

Registrant’stelephone number, including area code:    **(302) 651-1000**

 

Securitiesregistered pursuant to Section 12(b) of the Act: **None.**

 

Securitiesregistered pursuant to section 12(g) of the Act:  **None.**

 

Indicateby checkmark if the registrant is a well-known seasoned issuer, as defined in Rule 405of the Securities Act.

Yes o  Noý

 

Indicateby checkmark if the registrant is not required to file reports pursuant to Section 13or 15(d) of the Act.

Yes o  Noý

 

Indicateby check mark whether the registrant (1) has filed all reports required tobe filed by section 13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that theregistrant was required to file such reports), and (2) has been subject tosuch filing requirements for the past 90 days.                                                                             Yesý  No o

 

Indicate by check mark if disclosure of delinquentfilers pursuant to Item 405 of Regulation S-K is not contained herein, and willnot be contained, to the best of registrant’s knowledge, in definitive proxy orinformation statements incorporated by reference in Part III of this Form 10-Kor any amendment to this Form 10-K    ý

 

Indicateby check mark whether the registrant is a large accelerated filer, anaccelerated filer, or a non-accelerated filer. See definition of “acceleratedfiler and large accelerated filer” in Rule 12b-2 of the Exchange Act.

 
| Large accelerated filer  o | Accelerated filer  o | Non-accelerated filer    ý |
|--------------------------------------|--------------------------------|-------------------------------------------|

 

Indicateby check mark whether the registrant is a shell company (as defined in Rule 12b-2of the Exchange Act).

Yes o  Noý

 

 

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**PART I**

 

**ITEM 1.****                 ****BUSINESS**

 

This Annual Report on Form 10-K (the “Report”) isfiled with respect to Harley-Davidson Motorcycle Trust 2005-2 (the “Trust”). In2005, the Trust issued $775,000,000.00 in aggregate principal amount ofasset-backed notes (the “Notes”). Certain information otherwise required to beincluded in this Report by the Instructions to Form 10-K has been omittedin reliance on the letter relief granted by the staff of the SEC to othercompanies in similar circumstances.

 

**ITEM 1A.****              ****RISK FACTORS**

 

Notapplicable.

 

**ITEM 1B.****              ****UNRESOLVED STAFF COMMENTS**

 

None.

 

**ITEM 2.****                 ****PROPERTIES**

 

The assets of the Trust primarily include a pool ofconditional sales contracts and promissory notes and security agreementssecured by new or used motorcycles.

 

**ITEM 3.****                 ****LEGAL PROCEEDINGS**

 

There were no legal proceedings.

 

**ITEM 4.****                 ****SUBMISSION OF MATTERS TO A VOTE OF SECURITYHOLDERS**

 

There were no matters submitted to a vote of the Trust’s securityholders during the fourth quarter of 2005.

 

**PART II**

 

**ITEM 5.****                 ****MARKET FORREGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS****AND ISSUER PURCHASES OF EQUITYSECURITIES**

 

There were less than 300 participants per trust in the DTCsystem holding positions in the Cede Certificates as of December 31, 2005.The following were noteholders of record as of the end of the reporting year:

 
| Series 2005-2 Class A-1 |   | Cede & Co. |
|-----------------------------------|--------|---------------------|
| Series 2005-2 Class A-2 |   | Cede & Co. |
| Series 2005-2 Class B   |   | Cede & Co. |

 

There is no established public trading market for theNotes.

 

**ITEM 6.****                 ****SELECTED FINANCIAL DATA**

 

Notapplicable.

 

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**ITEM 7.****                 ****MANAGEMENT’S DISCUSSION AND ANALYSIS OFFINANCIAL CONDITION AND RESULTS OF OPERATIONS**

 

Not applicable.

 

**ITEM 7A.****              ****QUANTITATIVE AND QUALITATIVE DISCLOSURESABOUT MARKET RISK**

 

Not applicable.

 

**ITEM 8.****                 ****FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA**

 

Notapplicable.

 

**ITEM 9.****                 ****CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTSON ACCOUNTING AND FINANCIAL DISCLOSURE**

 

There were no changes in and/or disagreements withAccountants on Accounting and Financial Disclosures.

 

**ITEM 9A.****              ****CONTROLS AND PROCEDURES**

 

Notapplicable.

 

**ITEM 9B.****              ****OTHER INFORMATION**

 

Notapplicable.

 

**PART III**

 

**ITEM 10.****              ****DIRECTORS AND EXECUTIVE OFFICERS OF THECOMPANY**

 

Notapplicable.

 

**ITEM 11.****              ****EXECUTIVE COMPENSATION**

 

Notapplicable.

 

**ITEM 12.****              ****SECURITY OWNERSHIP OF CERTAIN BENEFICIALOWNERS AND MANAGEMENT**

 

The Notes are represented by one or more notes registeredin the name of Cede & Co., the nominee of The Depository Trust Company.An investor holding Notes is not entitled to receive a certificate representingsuch Notes, except in limited circumstances. Accordingly, Cede & Co.is the sole holder of Notes, which it holds on behalf of brokers, dealers,banks and other participants in the DTC system. Such participants may holdNotes for their own accounts or for the accounts of their customers. Theaddress of Cede & Co. is:

Cede & Co.

c/o The Depository Trust Company

Seven Hanover Square

New York, New York 10004

 

**ITEM 13.****              ****CERTAIN RELATIONSHIPS AND RELATEDTRANSACTIONS**

 

Nothingto report.

 

**ITEM 14.****              ****PRINCIPAL ACCOUNTING FEES AND SERVICES**

 

Not applicable.

 

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**PART IV**

 

**ITEM 15.****              ****EXHIBITS, FINANCIAL STATEMENT SCHEDULE**

 

(a)           The following documents are filed as part ofthis Form 10-K.

 

1.             Not applicable.

 

2.             Not applicable.

 

3.             Exhibits

31.1 Certification Pursuant to Section 302(A) ofthe Sarbanes-Oxley Act of 2002.

99.1  Annual Servicer Statement.

99.2  Management’s Report on Internal Control Overthe Servicing and Preparation of Monthly Servicer’s Certificates.

99.3  Report of Independent Accountants.

 

(b)           The Registrant has filedCurrent Reports on Form 8-K with the Securities and Exchange Commissiondated June 15, 2005, July 15, 2005, August 15, 2005, September 15,2005, October 17, 2005, November 15, 2005, December 15, 2005,and January 17, 2006.

 

(c)           Not applicable.

 

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**SIGNATURES**

 

Pursuant to the requirements of Section 13 or15(d) of the Securities Exchange Act of 1934, the registrant has dulycaused this report to be signed on its behalf by the undersigned, thereuntoduly authorized.

 
|   | HARLEY-DAVIDSON MOTORCYCLE TRUST 2005-2 |
|--------|-----------------------------------------|
|   |                                    |
|   | By:                                     | Harley-Davidson Credit Corp., |
|   |                                    |   | as Administrator |
|   |                                    |   |
|   | By:                                     | /s/ Perry A. Glassgow |   |
|   |                                    |   Perry A. Glassgow |
|   |                                    |   Vice President and  Treasurer |
|        |                                         |  |  |  |

 

 

March 30,2006

 

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**Index to Exhibits**

 
| **Exhibit  Number** | ** ** | **Exhibit**                                                                                                                |
|---------------------|------------|----------------------------------------------------------------------------------------------------------------------------|
| 31.1                |       | Certification  Pursuant to** **Section 302(A) of the Sarbanes-Oxley Act  of 2002.                           |
| 99.1                |       | Annual  Servicer Statement.                                                                                                |
| 99.2                |       | Management’s  Report on Internal Control Over the Servicing and Preparation of Monthly  Servicer’s Certificates. |
| 99.3                |       | Report  of Independent Accountants.                                                                                        |

 

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