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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 
 FORM 10-K
 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 þ
    
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the fiscal year ended December 31, 2005
  ̈
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 333-125416
333-125416-01
 Volkswagen Dealer Finance, LLC
on behalf of
Volkswagen Credit Auto Master Owner Trust
   
 38-3528063State of Delaware
    
    13-7255034(State or other jurisdiction of
    
    (Registrants IRS Employer Id. Nos.)incorporation)3800 Hamlin RoadAuburn Hills, Michigan
    
    48326(Address of principal executive offices)
    
    (Zip Code)
 (248) 754-5000
 
 None
 None
  ̈ þ
  ̈ þ
 þ  ̈
 þ
  o  ̈ þ
  ̈ þ
  See Item 15(b).




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FORM 10-K
 TABLE OF CONTENTS  PART 1Item 1. Business.Item 1A. Risk Factors.Item 1B. Unresolved Staff Comments.Item 2. Properties.Item 3. Legal Proceedings.Item 4. Submission of Matters To A Vote Of Security Holders.PART IIItem 5. Market for Registrants Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities.Item 6. Selected Financial Data.Item 7. Managements Discussion And Analysis Of Financial Condition And Results Of Operation.Item 7A. Quantitative and Qualitative Disclosures About Market Risk.Item 8. Financial Statements and Supplementary Data.Item 9. Changes in and Disagreements With Accountants On Accounting And Financial Disclosure.Item 9A. Controls and Procedures.Item 9B. Other Information.PART IIIItem 10. Directors and Executive Officers of the Registrant.Item 11. Executive Compensation.Item 12. Security Ownership Of Certain Beneficial Owners And Management and Related Stockholder Matters.Item 13. Certain Relationships And Related Transactions.Item 14. Principal Accountant Fees and Services.PART IVItem 15. Exhibits, Financial Statement Schedules.SIGNATURESEXHIBIT INDEXCertification of Officer of Servicer pursuant to Section 302(A)Annual Certificate of VW Credit, Inc., as ServicerReport on the Activities of VW Credit, Inc., as ServicerAnnual Distribution Statement    Table of Contents  
 PART 1
 
 Item 1. Business.
   
 Item 1A. Risk Factors.
  
 Item 1B. Unresolved Staff Comments.
  
 Item 2. Properties.
    1.
    
    Delinquent Contracts:
    
    Contracts
    
    Amount ($000s)a. 31  60 Days Delinquent
    
    
    0
    
    
    
    0b. 61  90 Days Delinquent
    
    
    0
    
    
    
    02.
    
    Delinquency Ratio:
    
    
    
    
    
    Amount ($000s)a. Delinquent Balance
    
    
    
    
    
    
    0b. Total Pool Balance
    
    
    
    
    
    
    0c. Delinquency Ratio
    
    
    
    
    
    
    0.00
    %3.
    
    Defaulted Contracts:
    
    Contracts
    
    Amount ($000s)a. For the Year Ended
December 31, 2005
    
    
    0
    
    
    
    04.
    
    Aggregate Net Losses, for
the year ended
December 31, 2005:
    
    
    
    
    
    Amount ($000s)a. Aggregate Net Losses
    
    
    
    
    
    
    0b. Original Portfolio
    
    
    
    
    
    
    0c. Aggregate Loss Ratio
    
    
    
    
    
    
    0.00
    %




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Item 3. Legal Proceedings.
   
 Item 4. Submission of Matters To A Vote Of Security Holders.
  
 PART II
 
 Item 5. Market for Registrants Common Equity and Related Stockholder Matters and Issuer Purchases of Equity Securities.
  (a)
    
    The Notes are represented by one or more certificates registered in the name of
Cede & Co., the nominee of The Depository Trust Company. At December 31, 2005, there
were less than 300 holders of record of each Class of Notes.(b)
    
    Not Applicable.(c)
    
    Not Applicable.
 
 Item 6. Selected Financial Data.
  
 Item 7. Managements Discussion And Analysis Of Financial Condition And Results Of Operation.
  
 Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
  
 Item 8. Financial Statements and Supplementary Data.
  
 Item 9. Changes in and Disagreements With Accountants On Accounting And Financial Disclosure.
  
 Item 9A. Controls and Procedures.
  
 Item 9B. Other Information.




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PART III
 
 Item 10. Directors and Executive Officers of the Registrant.
  
 Item 11. Executive Compensation.
  
 Item 12. Security Ownership Of Certain Beneficial Owners And Management and Related Stockholder Matters.
  
 Item 13. Certain Relationships And Related Transactions.
  
 Item 14. Principal Accountant Fees and Services.
  
 PART IV
 
 Item 15. Exhibits, Financial Statement Schedules.
 (a)
    
    (1) Not Applicable.
 (2)
    
    Not Applicable.(3)
    
    The exhibits in response to Item 601 of Regulation S-K are listed in the
Exhibit Index.
 (b)
    
    Current Reports on Forms 8-K during the year ending December 31,
2005:
 Date
    
    Items ReportedSeptember 20, 2005
    
    Items 8.01, 9.01, Monthly Servicer Certificate*October 20, 2005
    
    Items 8.01, 9.01, Monthly Servicer Certificate*November 21, 2005
    
    Items 8.01, 9.01, Monthly Servicer Certificate*December 20, 2005
    
    Items 8.01, 9.01, Monthly Servicer Certificate*January 20, 2006
    
    Items 8.01, 9.01, Monthly Servicer Certificate*
 
 *
    
    Incorporated by reference. (c)
    
    The exhibits in response to Item 601 of Regulation S-K are listed
in the Exhibit Index




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SIGNATURES
   VOLKSWAGEN CREDIT AUTO MASTER OWNER TRUST
By: VW CREDIT, INC., as AdministratorBy:
    /s/ Bruce HarrisName:
    Bruce HarrisTitle:
    Chief Financial OfficerVOLKSWAGEN DEALER FINANCE, LLCBy:
    /s/ Timothy J. FlahertyName:
    Timothy J. FlahertyTitle:
    Assistant Treasurer




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EXHIBIT INDEX
 Exhibit 31:
 Exhibit 99.1
 Exhibit 99.2:
 Exhibit 99.3: