<PAGE>

                                                                    EXHIBIT 10.6

                                                                  EXECUTION COPY

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                            ADMINISTRATION AGREEMENT

                                      among

                        WFS FINANCIAL 2004-1 OWNER TRUST,
                                   as Issuer,

                                    WESTCORP,
                                as Administrator,

                         WFS RECEIVABLES CORPORATION 4,
                                   as Seller,

                                       and

                      DEUTSCHE BANK TRUST COMPANY AMERICAS,
                              as Indenture Trustee

                          Dated as of February 1, 2004

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                                TABLE OF CONTENTS

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                                                                                                               Page
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<S>                                                                                                            <C>
Section 1.  Duties of the Administrator......................................................................    1

Section 2.  Records..........................................................................................    8

Section 3.  Compensation.....................................................................................    8

Section 4.  Additional Information to be Furnished to the Issuer.............................................    8

Section 5.  Independence of the Administrator................................................................    8

Section 6.  No Joint Venture.................................................................................    8

Section 7.  Other Activities of Administrator................................................................    8

Section 8.  Term of Agreement; Resignation and Removal of Administrator......................................    8

Section 9.  Action upon Termination, Resignation or Removal..................................................    9

Section 10.  Notices.........................................................................................   10

Section 11.  Amendments......................................................................................   10

Section 12.  Successors and Assigns..........................................................................   11

Section 13.  Governing Law...................................................................................   11

Section 14.  Headings........................................................................................   11

Section 15.  Counterparts....................................................................................   11

Section 16.  Severability....................................................................................   11

Section 17.  Not Applicable to Westcorp in Other Capacities..................................................   11

Section 18.  Limitation of Liability of Owner Trustee and Indenture Trustee..................................   11

Section 19.  Third-Party Beneficiary.........................................................................   12

Section 20.  Capitalized Terms...............................................................................   12

Section 20.  Usage of Terms..................................................................................   12


Exhibit A  Form of Power of Attorney.........................................................................  A-1
</TABLE>

                                       i

<PAGE>

         This ADMINISTRATION AGREEMENT, dated as of February 1, 2004 (the
"Agreement"), is among WFS FINANCIAL 2004-1 OWNER TRUST (the "Issuer"), WESTCORP
("Westcorp" or, in its capacity as administrator, the "Administrator"), WFS
RECEIVABLES CORPORATION 4, as seller (the "Seller"), and DEUTSCHE BANK TRUST
COMPANY AMERICAS, not in its individual capacity but solely as indenture trustee
(the "Indenture Trustee").

                              W I T N E S S E T H :

         WHEREAS, the Issuer is issuing 1.08% Class A-1 Notes, 1.51% Class A-2
Notes, 2.19% Class A-3 Notes, 2.81% Class A-4 Notes, 2.34% Class B Notes, 2.49%
Class C Notes and 3.17% Class D Notes (collectively, the "Notes"), pursuant to
the indenture, dated as of the date hereof (the "Indenture"), between the Issuer
and the Indenture Trustee;

         WHEREAS, the Issuer has entered into certain agreements in connection
with the issuance of the Notes and of certain beneficial ownership interests of
the Issuer, including (i) the Indenture, (ii) a sale and servicing agreement,
dated as of the date hereof (the "Sale and Servicing Agreement"), among the
Issuer, the Seller, WFS Financial Inc, as master servicer (the "Master
Servicer"), and Westcorp, as indemnifier, and (iii) a Letter of Representations,
dated February 27, 2004 (the "Depository Agreement" and, together with the Basic
Documents, the "Related Agreements"), among the Issuer, the Indenture Trustee
and The Depository Trust Company ("DTC") relating to the Notes;

         WHEREAS, pursuant to the Related Agreements, the Issuer and Chase
Manhattan Bank USA, National Association, as owner trustee (the "Owner
Trustee"), are required to perform certain duties in connection with (i) the
Notes and the collateral therefor pledged pursuant to the Indenture and (ii) the
beneficial ownership interests in the Issuer;

         WHEREAS, the Issuer and the Owner Trustee desire to have the
Administrator perform certain of the duties of the Issuer and the Owner Trustee
referred to in the preceding clause and to provide such additional services
consistent with the terms of this Agreement and the Related Agreements as the
Issuer and the Owner Trustee may from time to time request; and

         WHEREAS, the Administrator has the capacity to provide the services
required hereby and is willing to perform such services for the Issuer and the
Owner Trustee on the terms set forth herein.

         NOW, THEREFORE, in consideration of the mutual covenants contained
herein, and other good and valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties hereto agree as follows:

         Section 1. Duties of the Administrator.

         (a)      Duties with Respect to the Depository Agreement and the
Indenture.

                  (i)      The Administrator agrees to perform all its duties as
         Administrator and the duties of the Issuer and the Owner Trustee under
         the Depository Agreement. In addition, the Administrator shall consult
         with the Owner Trustee regarding the duties of the Issuer

<PAGE>

         or the Owner Trustee under the Indenture and the Depository Agreement.
         The Administrator shall monitor the performance of the Issuer and shall
         advise the Owner Trustee when action is necessary to comply with the
         respective duties of the Issuer and the Owner Trustee under the
         Indenture and the Depository Agreement. The Administrator shall prepare
         for execution by the Issuer, or shall cause the preparation by other
         appropriate persons, of all such documents, reports, filings,
         instruments, certificates and opinions that it shall be the duty of the
         Issuer or the Owner Trustee to prepare, file or deliver pursuant to the
         Indenture and the Depository Agreement. In furtherance of the
         foregoing, the Administrator shall take (or, in the case of the
         immediately preceding sentence, cause to be taken) all appropriate
         action that the Issuer or the Owner Trustee is required to take
         pursuant to the Indenture including such of the foregoing as are
         required with respect to the following matters under the Indenture
         (references are to Sections of the Indenture):

                           (A)      the preparation of or obtaining of the
                  documents and instruments required for execution and
                  authentication of the Notes and delivery of the same to the
                  Indenture Trustee (Section 2.02);

                           (B)      the duty to cause the Note Register to be
                  kept and to give the Indenture Trustee notice of any
                  appointment of a new Note Registrar and the location, or
                  change in location, of the Note Register (Section 2.04);

                           (C)      the notification of Noteholders and the
                  Rating Agencies of the final principal payment on the Notes
                  (Section 2.07(b));

                           (D)      the fixing or causing to be fixed of any
                  special record date and the notification of the Indenture
                  Trustee and Noteholders with respect to special payment dates,
                  if any (Section 2.07(d));

                           (E)      the preparation of Definitive Notes in
                  accordance with the instructions of the Clearing Agency
                  (Section 2.11);

                           (F)      the preparation, obtaining or filing of the
                  instruments, opinions and certificates and other documents
                  required for the release of Collateral (Section 2.12);

                           (G)      the maintenance of an office in the Borough
                  of Manhattan, The City of New York, for registration of
                  transfer or exchange of Notes (Section 3.02);

                           (H)      the duty to cause newly appointed Paying
                  Agents, if any, to deliver to the Indenture Trustee the
                  instrument specified in the Indenture regarding funds held in
                  trust (Section 3.03);

                           (I)      the direction to the Indenture Trustee to
                  deposit monies with Paying Agents, if any, other than the
                  Indenture Trustee (Section 3.03);

                                       2

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                           (J)      the obtaining and preservation of the
                  Issuer's qualification to do business in each jurisdiction in
                  which such qualification is or shall be necessary to protect
                  the validity and enforceability of the Indenture, the Notes,
                  the Collateral and each other instrument and agreement
                  included in the Trust Estate (Section 3.04);

                           (K)      the preparation of all supplements and
                  amendments to the Indenture and all financing statements,
                  continuation statements, instruments of further assurance and
                  other instruments and the taking of such other action as is
                  necessary or advisable to protect the Trust Estate (Section
                  3.05);

                           (L)      the delivery of the Opinion of Counsel on
                  the Closing Date and the annual delivery of Opinions of
                  Counsel as to the Trust Estate, and the annual delivery of the
                  Officer's Certificate and certain other statements as to
                  compliance with the Indenture (Sections 3.06 and 3.09);

                           (M)      the identification to the Indenture Trustee
                  in an Officer's Certificate of a Person with whom the Issuer
                  has contracted to perform its duties under the Indenture
                  (Section 3.07(b));

                           (N)      the notification of the Indenture Trustee
                  and each Rating Agency of a Servicer Default under the Sale
                  and Servicing Agreement and, if such Servicer Default arises
                  from the failure of the Master Servicer to perform any of its
                  duties or obligations under the Sale and Servicing Agreement
                  with respect to the Contracts, the taking of all reasonable
                  steps available to remedy such failure (Section 3.07(d));

                           (O)      the duty to cause the Master Servicer to
                  comply with the Sale and Servicing Agreement, including
                  Section 5.07 and Articles Four and Seven thereof (Section
                  3.14);

                           (P)      the preparation and obtaining of documents
                  and instruments required for the release of the Issuer from
                  its obligations under the Indenture (Section 3.10(b));

                           (Q)      the delivery of written notice to the
                  Indenture Trustee and each Rating Agency of each Event of
                  Default under the Indenture and each default by the Master
                  Servicer or the Seller under the Sale and Servicing Agreement
                  (Section 3.18);

                           (R)      the monitoring of the satisfaction and
                  discharge of the Indenture and the preparation of an Officer's
                  Certificate and the obtaining of the Opinion of Counsel and
                  the Independent Certificate relating thereto (Section 4.01);

                           (S)      the notification of the Rating Agencies of
                  any waiver of a Default or an Event of Default (Section 5.13);

                                       3

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                           (T)      the preparation and delivery of notice to
                  Noteholders of the removal of the Indenture Trustee and the
                  appointment of a successor Indenture Trustee (Section 6.08);

                           (U)      the preparation of any written instruments
                  required to confirm more fully the authority of any co-trustee
                  or separate trustee and any written instruments necessary in
                  connection with the resignation or removal of the Indenture
                  Trustee or any co-trustee or separate trustee (Sections 6.08
                  and 6.10);

                           (V)      maintaining the effectiveness of the sales
                  finance company licenses required under the Maryland Code
                  Annotated, Financial Institutions Section 11-401 et seq. and
                  the licenses required under the Pennsylvania Motor Vehicle
                  Sales Finance Act (Section 6.14);

                           (W)      the furnishing of the Indenture Trustee with
                  the names and addresses of Noteholders during any period when
                  the Indenture Trustee is not the Note Registrar (Section
                  7.01);

                           (X)      the preparation and, after execution by the
                  Issuer, the filing with the Commission, any applicable state
                  agencies and the Indenture Trustee of documents required to be
                  filed on a periodic basis with, and summaries thereof as may
                  be required by rules and regulations prescribed by, the
                  Commission and any applicable state agencies and the
                  transmission of such summaries, as necessary, to the
                  Noteholders (Section 7.03);

                           (Y)      the opening of one or more accounts in the
                  Issuer's name, the preparation and delivery of Issuer Orders,
                  Officer's Certificates and Opinions of Counsel and all other
                  actions necessary with respect to investment and reinvestment
                  of funds in the Trust Accounts (Sections 8.02 and 8.03);

                           (Z)      the preparation of an Issuer Request and
                  Officer's Certificate and the obtaining of an Opinion of
                  Counsel and Independent Certificates, if necessary, for the
                  release of the Trust Estate (Sections 8.04 and 8.05);

                           (AA)     the preparation of Issuer Orders and the
                  obtaining of Opinions of Counsel with respect to the execution
                  of supplemental indentures and the mailing to the Noteholders
                  of notices with respect to such supplemental indentures
                  (Sections 9.01, 9.02 and 9.03);

                           (BB)     the execution, authentication and delivery
                  of new Notes conforming to any supplemental indenture (Section
                  9.06);

                           (CC)     the duty to notify Noteholders and the
                  Rating Agencies of redemption of the Notes or to cause the
                  Indenture Trustee to provide such notification (Section
                  10.02);

                                       4

<PAGE>

                           (DD)     the preparation and delivery of all
                  Officer's Certificates, Opinions of Counsel and Independent
                  Certificates with respect to any requests by the Issuer to the
                  Indenture Trustee to take any action under the Indenture
                  (Section 11.01(a));

                           (EE)     the preparation and delivery of Officer's
                  Certificates and the obtaining of Independent Certificates, if
                  necessary, for the release of property from the lien of the
                  Indenture (Section 11.01(b));

                           (FF)     the notification of the Rating Agencies,
                  upon the failure of the Issuer, the Owner Trustee or the
                  Indenture Trustee to give such notification, of the
                  information required pursuant to Section 11.04 of the
                  Indenture (Section 11.04);

                           (GG)     the preparation and delivery to Noteholders
                  and the Indenture Trustee of any agreements with respect to
                  alternate payment and notice provisions (Section 11.06); and

                           (HH)     the recording of the Indenture, if
                  applicable (Section 11.15).

                  (ii)     The Administrator will:

                           (A)      pay the Indenture Trustee from time to time
                  reasonable compensation for all services rendered by the
                  Indenture Trustee under the Indenture (which compensation
                  shall not be limited by any provision of law in regard to the
                  compensation of a trustee of an express trust);

                           (B)      except as otherwise expressly provided in
                  the Indenture, reimburse the Indenture Trustee upon its
                  request for all reasonable expenses, disbursements and
                  advances incurred or made by the Indenture Trustee in
                  accordance with any provision of the Indenture (including the
                  reasonable compensation, expenses and disbursements of its
                  agents and counsel), except any such expense, disbursement or
                  advance as may be attributable to its negligence or bad faith;

                           (C)      indemnify the Indenture Trustee and its
                  agents for, and hold them harmless against, any loss,
                  liability or expense incurred without negligence or bad faith
                  on their part, arising out of or in connection with the
                  acceptance or administration of the transactions contemplated
                  by the Indenture, including the reasonable costs and expenses
                  of defending themselves against any claim or liability in
                  connection with the exercise or performance of any of their
                  powers or duties under the Indenture; and

                           (D)      indemnify the Owner Trustee and its agents
                  for, and hold them harmless against, any loss, liability or
                  expense incurred without negligence or bad faith on their
                  part, arising out of or in connection with the acceptance or
                  administration of the transactions contemplated by the Trust
                  Agreement, including the reasonable costs and expenses of
                  defending themselves against any claim or liability in
                  connection with the exercise or performance of any of their
                  powers or duties under the Trust Agreement.

                                       5

<PAGE>

         (b)      Additional Duties.

                  (i)      In addition to the duties set forth in Section
         1(a)(i), the Administrator shall perform such calculations and shall
         prepare or cause to be prepared by other appropriate persons, and shall
         execute on behalf of the Issuer or the Owner Trustee, all such
         documents, reports, filings, instruments, certificates and opinions
         that the Issuer or the Owner Trustee are required to prepare, file or
         deliver pursuant to the Related Agreements or Section 5.05 of the Trust
         Agreement, and at the request of the Owner Trustee shall take all
         appropriate action that the Issuer or the Owner Trustee are required to
         take pursuant to the Related Agreements. In furtherance thereof, the
         Owner Trustee (A) shall, on behalf of the Issuer, execute and deliver
         to the Administrator and to each successor Administrator appointed
         pursuant to the terms hereof, one or more powers of attorney
         substantially in the form of Exhibit A hereto, appointing the
         Administrator the attorney-in-fact of the Issuer for the purpose of
         executing on behalf of the Issuer all such documents, reports, filings,
         instruments, certificates and opinions and (B) will either execute on
         its behalf, or execute and deliver to the Administrator and to each
         successor Administrator appointed pursuant to the terms hereof, one or
         more powers of attorney appointing the Administrator the
         attorney-in-fact of the Owner Trustee for the purpose of executing on
         behalf of the Owner Trustee, all such documents, reports, filings,
         instruments, certificates and opinions to the extent deemed necessary
         by the Administrator and at the request of the Administrator. Subject
         to Section 5, and in accordance with the directions of the Owner
         Trustee, the Administrator shall administer, perform or supervise the
         performance of such other activities in connection with the Collateral
         (including the Related Agreements) as are not covered by any of the
         foregoing provisions and as are expressly requested by the Owner
         Trustee and are reasonably within the capability of the Administrator.

                  (ii)     Notwithstanding anything in this Agreement or the
         Related Agreements to the contrary, the Administrator shall be
         responsible for promptly notifying the Owner Trustee in the event that
         any withholding tax is imposed on the Trust's payments (or allocations
         of income) to an Owner as contemplated in Section 5.02(c) of the Trust
         Agreement. Any such notice shall specify the amount of any withholding
         tax required to be withheld by the Owner Trustee pursuant to such
         provision.

                  (iii)    Notwithstanding anything in this Agreement or the
         Related Agreements to the contrary, the Administrator shall be
         responsible for performance of the duties of the Owner Trustee set
         forth in Section 5.05 of the Trust Agreement with respect to, among
         other things, accounting and reports to Owners; provided, however, that
         the Owner Trustee shall retain responsibility for the distribution of
         any Schedule K-1s necessary to enable each Owner to prepare its federal
         and state income tax returns.

                  (iv)     The Administrator shall satisfy its obligations with
         respect to clauses (ii) and (iii) above by retaining, at the expense of
         the Trust payable by the Administrator, a firm of independent public
         accountants (the "Accountants") acceptable to the Owner Trustee, which
         shall perform the obligations of the Administrator thereunder. In
         connection with paragraph (ii) above, the Accountants will provide
         prior to December 31, 2004, a letter in form and substance satisfactory
         to the Owner Trustee if any tax

                                       6

<PAGE>

         withholding is then required and the procedures to be followed with
         respect thereto to comply with the requirements of the Code. The
         Accountants shall be required to update the letter in each instance
         that any additional tax withholding is subsequently required or any
         previously required tax withholding shall no longer be required.

                  (v)      The Administrator shall perform the duties of the
         Administrator specified in Section 10.02 of the Trust Agreement
         required to be performed in connection with the resignation or removal
         of the Owner Trustee and any other duties expressly required to be
         performed by the Administrator under the Trust Agreement.

                  (vi)     In carrying out the foregoing duties or any of its
         other obligations under this Agreement, the Administrator may enter
         into transactions or otherwise deal with any of its Affiliates;
         provided, however, that the terms of any such transactions or dealings
         shall be in accordance with any directions received from the Issuer and
         shall be, in the Administrator's opinion, no less favorable to the
         Issuer than would be available from unaffiliated parties.

         (c)      Non-Ministerial Matters.

                  (i)      With respect to matters that in the reasonable
         judgment of the Administrator are non-ministerial, the Administrator
         shall not take any action unless within a reasonable time before the
         taking of such action, the Administrator shall have notified the Owner
         Trustee of the proposed action and the Owner Trustee shall not have
         withheld consent or provided an alternative direction. For the purpose
         of the preceding sentence, "non-ministerial matters" shall include:

                           (A)      the amendment of or any supplement to the
                  Indenture;

                           (B)      the initiation of any claim or lawsuit by
                  the Issuer and the compromise of any action, claim or lawsuit
                  brought by or against the Issuer (other than in connection
                  with the collection of the Contracts);

                           (C)      the amendment, change or modification of the
                  Related Agreements;

                           (D)      the appointment of successor Note
                  Registrars, successor Paying Agents and successor Indenture
                  Trustees pursuant to the Indenture or the appointment of
                  successor Administrators or a successor Master Servicer, or
                  the consent to the assignment by any of the Note Registrar,
                  the Paying Agent or the Indenture Trustee of its obligations
                  under the Indenture; and

                           (E)      the removal of the Indenture Trustee.

                  (ii)     Notwithstanding anything to the contrary in this
         Agreement, the Administrator shall not be obligated to, and shall not,
         (A) make any payments to the Noteholders under the Related Agreements,
         (B) take any other action that the Issuer directs the Administrator not
         to take on its behalf or (C) take any other action which may be
         construed as having the effect of varying the investment of the
         Holders.

                                       7

<PAGE>

         Section 2. Records. The Administrator shall maintain appropriate books
of account and records relating to services performed hereunder, which books of
account and records shall be accessible for inspection by the Issuer and the
Company at any time during normal business hours.

         Section 3. Compensation. As compensation for the performance of the
Administrator's obligations under this Agreement and as reimbursement for its
expenses related thereto, the Administrator shall be entitled to an annual
payment of compensation which shall be solely an obligation of the Company.

         Section 4. Additional Information to be Furnished to the Issuer. The
Administrator shall furnish to the Issuer from time to time such additional
information regarding the Collateral as the Issuer shall reasonably request.

         Section 5. Independence of the Administrator. For all purposes of this
Agreement, the Administrator shall be an independent contractor and shall not be
subject to the supervision of the Issuer or the Owner Trustee with respect to
the manner in which it accomplishes the performance of its obligations
hereunder. Unless expressly authorized by the Issuer, the Administrator shall
have no authority to act for or represent the Issuer or the Owner Trustee in any
way and shall not otherwise be deemed an agent of the Issuer or the Owner
Trustee.

         Section 6. No Joint Venture. Nothing contained in this Agreement shall
(i) constitute the Administrator and either of the Issuer or the Owner Trustee
as members of any partnership, joint venture, association, syndicate,
unincorporated business or other separate entity, (ii) be construed to impose
any liability as such on any of them or (iii) be deemed to confer on any of them
any express, implied or apparent authority to incur any obligation or liability
on behalf of the others.

         Section 7. Other Activities of Administrator. Nothing herein shall
prevent the Administrator or its Affiliates from engaging in other businesses
or, in its sole discretion, from acting in a similar capacity as an
administrator for any other Person or entity even though such person or entity
may engage in business activities similar to those of the Issuer, the Owner
Trustee or the Indenture Trustee.

         Section 8. Term of Agreement; Resignation and Removal of Administrator.
This Agreement shall continue in force until the dissolution of the Issuer, upon
which event this Agreement shall automatically terminate.

         (a)      Subject to Section 8(e), the Administrator may resign its
duties hereunder by providing the Issuer with at least 60 days' prior written
notice.

         (b)      Subject to Section 8(e), the Issuer may remove the
Administrator without cause by providing the Administrator with at least 60
days' prior written notice.

         (c)      Subject to Section 8(e), at the sole option of the Issuer, the
Administrator may be removed immediately upon written notice of termination from
the Issuer to the Administrator if any of the following events shall occur:

                                       8

<PAGE>

                  (i)      the Administrator shall default in the performance of
         any of its duties under this Agreement and, after notice of such
         default, shall not cure such default within ten days (or, if such
         default cannot be cured in such time, shall not give within ten days
         such assurance of cure as shall be reasonably satisfactory to the
         Issuer);

                  (ii)     a court having jurisdiction in the premises shall
         enter a decree or order for relief, and such decree or order shall not
         have been vacated within 60 days, in respect of the Administrator in
         any involuntary case under any applicable bankruptcy, insolvency or
         other similar law now or hereafter in effect or appoint a receiver,
         liquidator, assignee, custodian, trustee, sequestrator or similar
         official for the Administrator or any substantial part of its property
         or order the winding-up or liquidation of its affairs; or

                  (iii)    the Administrator shall commence a voluntary case
         under any applicable bankruptcy, insolvency or other similar law now or
         hereafter in effect, shall consent to the entry of an order for relief
         in an involuntary case under any such law, or shall consent to the
         appointment of a receiver, liquidator, assignee, trustee, custodian,
         sequestrator or similar official for the Administrator or any
         substantial part of its property, shall consent to the taking of
         possession by any such official of any substantial part of its
         property, shall make any general assignment for the benefit of
         creditors or shall fail generally to pay its debts as they become due.

         The Administrator agrees that if any of the events specified in clauses
(ii) or (iii) above shall occur, it shall give written notice thereof to the
Issuer and the Indenture Trustee within seven days after the occurrence of such
event.

         (d)      No resignation or removal of the Administrator pursuant to
this Section shall be effective until (i) a successor Administrator shall have
been appointed by the Issuer and (ii) such successor Administrator shall have
agreed in writing to be bound by the terms of this Agreement in the same manner
as the Administrator is bound hereunder.

         (e)      The appointment of any successor Administrator shall be
effective only after satisfaction of the Rating Agency Condition with respect to
the proposed appointment.

         (f)      Subject to Sections 8(d) and 8(e), the Administrator
acknowledges that upon the appointment of a Successor Master Servicer pursuant
to the Sale and Servicing Agreement, the Administrator shall immediately resign
and such Successor Master Servicer shall automatically become the Administrator
under this Agreement; provided, however, that this subsection (f) shall not
apply at such times as the Indenture Trustee shall be the Successor Master
Servicer.

         Section 9. Action upon Termination, Resignation or Removal. Promptly
upon the effective date of termination of this Agreement pursuant to the first
sentence of Section 8 or the resignation or removal of the Administrator
pursuant to Section 8(a), (b) or (c), respectively, the Administrator shall be
entitled to be paid all fees and reimbursable expenses accruing to it to the
date of such termination, resignation or removal. The Administrator shall
forthwith upon such termination pursuant to the first sentence of Section 8
deliver to the Issuer all property and documents of or relating to the
Collateral then in the custody of the Administrator. In the event of the
resignation or removal of the Administrator pursuant to Section 8(a), (b) or
(c),

                                       9

<PAGE>

respectively, the Administrator shall cooperate with the Issuer and take all
reasonable steps requested to assist the Issuer in making an orderly transfer of
the duties of the Administrator.

         Section 10. Notices. Any notice, report or other communication given
hereunder shall be in writing and addressed as follows:

         (a)      if to the Issuer or the Owner Trustee, to:

                  WFS Financial 2004-1 Owner Trust
                  Chase Manhattan Bank USA, National Association
                  c/o JP Morgan Chase
                  500 Stanton Christiana Rd., OPS4 /3rd Floor
                  Newark, Delaware  19713
                  Attention:  Institutional Trust Services

         (b)      if to the Administrator, to:

                  Westcorp
                  23 Pasteur
                  Irvine, California  92618
                  Attention:  Guy Du Bose, Esq.

         (c)      if to the Indenture Trustee, to:

                  Deutsche Bank Trust Company Americas
                  60 Wall Street, 26th Floor
                  MS NYC60-2606
                  New York, New York  10005
                  Attention: Corporate Trust & Agency Services - Structured
                  Finance Services

or to such other address as any party shall have provided to the other parties
in writing. Any notice required to be in writing hereunder shall be deemed given
if such notice is mailed by certified mail, postage prepaid, or hand-delivered
to the address of such party as provided above.

         Section 11. Amendments. This Agreement may be amended from time to time
by a written amendment duly executed and delivered by the parties hereto, with
the written consent of the Owner Trustee but without the consent of the
Noteholders and the Certificateholders, for the purpose of adding any provisions
to or changing in any manner or eliminating any of the provisions of this
Agreement or of modifying in any manner the rights of the Noteholders or
Certificateholders; provided that such amendment will not, in the Opinion of
Counsel satisfactory to the Indenture Trustee, materially and adversely affect
the interest of any Noteholder or Certificateholder. This Agreement may also be
amended by the parties hereto with the written consent of the Owner Trustee and
the holders of Notes evidencing at least a majority of the Outstanding Amount of
the Notes and the holders of Certificates evidencing at least a majority of the
Certificate Percentage for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Agreement or of
modifying in any manner the rights of Noteholders or the Certificateholders;
provided, however, that no such amendment may (i) increase or reduce in any
manner the amount of, or accelerate or delay

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<PAGE>

the timing of, collections of payments on the Contracts or distributions that
are required to be made for the benefit of the Noteholders or Certificateholders
or (ii) reduce the aforesaid percentage of the holders of Notes and Certificates
which are required to consent to any such amendment, without the consent of the
holders of all outstanding Notes and Certificates. Notwithstanding the
foregoing, the Administrator may not amend this Agreement without the permission
of the Seller, which permission shall not be unreasonably withheld.

         Section 12. Successors and Assigns. This Agreement may not be assigned
by the Administrator unless such assignment is previously consented to in
writing by the Issuer and the Owner Trustee and subject to the satisfaction of
the Rating Agency Condition in respect thereof. An assignment with such consent
and satisfaction, if accepted by the assignee, shall bind the assignee hereunder
in the same manner as the Administrator is bound hereunder. Notwithstanding the
foregoing, this Agreement may be assigned by the Administrator without the
consent of the Issuer or the Owner Trustee to a corporation or other
organization that is a successor (by merger, consolidation or purchase of
assets) to the Administrator; provided that such successor organization executes
and delivers to the Issuer, the Owner Trustee and the Indenture Trustee an
agreement, in form and substance reasonably satisfactory to the Owner Trustee
and the Indenture Trustee, in which such corporation or other organization
agrees to be bound hereunder by the terms of said assignment in the same manner
as the Administrator is bound hereunder. Subject to the foregoing, this
Agreement shall bind any successors or assigns of the parties hereto.

         Section 13. Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF CALIFORNIA AND THE OBLIGATIONS, RIGHTS
AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS, EXCEPT THAT THE DUTIES OF THE INDENTURE TRUSTEE SHALL BE GOVERNED BY
THE LAWS OF THE STATE OF NEW YORK.

         Section 14. Headings. The section and subsection headings hereof have
been inserted for convenience of reference only and shall not be construed to
affect the meaning, construction or effect of this Agreement.

         Section 15. Counterparts. This Agreement may be executed in several
counterparts, each of which shall be an original and all of which shall
constitute but one and the same agreement.

         Section 16. Severability. Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall be ineffective to the
extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

         Section 17. Not Applicable to Westcorp in Other Capacities. Nothing in
this Agreement shall affect any obligation Westcorp may have in any other
capacity.

         Section 18. Limitation of Liability of Owner Trustee and Indenture
Trustee.

         (a)      Notwithstanding anything contained herein to the contrary,
this instrument has been countersigned by Chase Manhattan Bank USA, National
Association not in its individual

                                       11

<PAGE>

capacity but solely in its capacity as Owner Trustee of the Issuer and in no
event shall Chase Manhattan Bank USA, National Association in its individual
capacity or any beneficial owner of the Issuer have any liability for the
representations, warranties, covenants, agreements or other obligations of the
Issuer hereunder, as to all of which recourse shall be had solely to the assets
of the Issuer. For all purposes of this Agreement, in the performance of any
duties or obligations of the Issuer hereunder, the Owner Trustee shall be
subject to, and entitled to the benefits of, the terms and provisions of
Articles Six, Seven and Eight of the Trust Agreement.

         (b)      Notwithstanding anything contained herein to the contrary,
this Agreement has been countersigned by Deutsche Bank Trust Company Americas
not in its individual capacity but solely as Indenture Trustee and in no event
shall Deutsche Bank Trust Company Americas have any liability for the
representations, warranties, covenants, agreements or other obligations of the
Issuer hereunder or in any of the certificates, notices or agreements delivered
pursuant hereto, as to all of which recourse shall be had solely to the assets
of the Issuer.

         (c)      In no event shall the Indenture Trustee be liable for any
indirect, special, punitive or consequential loss or damage of any kind
whatsoever, including lost profits, even if the Indenture Trustee has been
advised of the likelihood of such loss or damage and regardless of the form of
action.

         (d)      In no event shall the Indenture Trustee be liable for any
failure or delay in the performance of its obligations hereunder because of
circumstances beyond its control, including, but not limited to, acts of God,
flood, war (whether declared or undeclared), terrorism, fire, riot, embargo,
government action, including any laws, ordinances, regulations, governmental
action or the like which delay, restrict or prohibit the providing of the
services contemplated by this Agreement.

         Section 19. Third-Party Beneficiary. The Owner Trustee is a third-party
beneficiary to this Agreement and is entitled to the rights and benefits
hereunder and may enforce the provisions hereof as if it were a party hereto.

         Section 20. Capitalized Terms. Except as otherwise specified herein or
as the context may otherwise require, capitalized terms used herein that are not
otherwise defined shall have the meanings ascribed thereto in the Indenture or
the Sale and Servicing Agreement, as the case may be.

         Section 21. Usage of Terms. With respect to all terms in this
Agreement, unless the context otherwise requires, (i) a term has the meaning
assigned to it; (ii) an accounting term not otherwise defined has the meaning
assigned to it in accordance with generally accepted accounting principles as in
effect from time to time in the United States; (iii) "or" is not exclusive; (iv)
"including" means including without limitation; (v) words in the singular
include the plural and words in the plural include the singular; (vi) any
agreement, instrument or statute defined or referred to herein or in any
instrument or certificate delivered in connection herewith means such agreement,
instrument or statute as from time to time amended, modified or supplemented and
includes (in the case of agreements or instruments) references to all
attachments thereto and instruments incorporated therein; (vii) references to a
Person are also to its successors and permitted assigns; (viii) the words
"hereof," "herein" and "hereunder" and

                                       12

<PAGE>

words of similar import when used in this Agreement shall refer to this
Agreement as a whole and not to any particular provision of this Agreement ;
(ix) Section, subsection, Schedule and Exhibit, as applicable, references
contained in this Agreement are references to Sections, subsections, Schedules
and Exhibits in or to this Agreement unless otherwise specified; and (x)
references to "writing" include printing, typing, lithography and other means of
reproducing words in a visible form.

                                       13

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed and delivered as of the day and year first above written.

                             WFS FINANCIAL 2004-1 OWNER TRUST

                             By: CHASE MANHATTAN BANK USA,
                                 NATIONAL ASSOCIATION,
                                 not in its individual capacity but solely as
                                 Owner Trustee

                             By: _______________________________________________
                                 Name:
                                 Title:

                             WESTCORP,
                                 as Administrator

                             By: _______________________________________________
                                 Name:
                                 Title:

                             WFS RECEIVABLES CORPORATION 4,
                                 as Seller

                             By: _______________________________________________
                                 Name:
                                 Title:

                             DEUTSCHE BANK TRUST COMPANY
                               AMERICAS, not in its individual
                               capacity but solely as Indenture Trustee

                             By: _______________________________________________
                                 Name:
                                 Title:

                                                        Administration Agreement

<PAGE>

                                                                       EXHIBIT A

                           [FORM OF POWER OF ATTORNEY]

STATE OF DELAWARE                          }

                                           }

COUNTY OF NEW CASTLE                       }

         KNOW ALL MEN BY THESE PRESENTS, that WFS FINANCIAL ______ OWNER TRUST
(the "Issuer"), does hereby make, constitute and appoint Westcorp, in its
capacity as administrator under the administration agreement, dated as of ______
1, _____ (the "Administration Agreement"), among the Issuer, the Administrator,
WFS Receivables Corporation 4, as seller, and Deutsche Bank Trust Company
Americas, as indenture trustee, as the same may be amended from time to time,
and its agents and attorneys, as Attorneys-in-Fact to execute on behalf of the
Issuer all such documents, reports, filings, instruments, certificates and
opinions as it should be the duty of the Issuer to prepare, file or deliver
pursuant to the Related Agreements, or pursuant to Section 5.05 of the Trust
Agreement, including to appear for and represent the Issuer in connection with
the preparation, filing and audit of federal, state and local tax returns
pertaining to the Issuer, and with full power to perform any and all acts
associated with such returns and audits that the Issuer could perform, including
the right to distribute and receive confidential information, defend and assert
positions in response to audits, initiate and defend litigation, and to execute
waivers of restrictions on assessments of deficiencies, consents to the
extension of any statutory or regulatory time limit, and settlements.

         All powers of attorney for this purpose heretofore filed or executed by
the Issuer are hereby revoked.

         Capitalized terms that are used and not otherwise defined herein shall
have the meanings ascribed thereto in the Administration Agreement.

                                      A-1

<PAGE>

EXECUTED this ___ day of __________, _____.


                                WFS FINANCIAL ______ OWNER TRUST

                                By: Chase Manhattan Bank USA, National
                                    Association, not in its individual capacity
                                    but solely as Owner Trustee

                                By: ____________________________
                                    Name:
                                    Title:

STATE OF DELAWARE          }

                           }

COUNTY OF NEW CASTLE       }

         Before me, the undersigned authority, on this day personally appeared
______________, known to me to be the person whose name is subscribed to the
foregoing instruments, and acknowledged to me that he/she signed the same for
the purposes and considerations therein expressed.

Sworn to before me this ____
day of __________, _____.

Notary Public - State of Delaware

                                      A-2