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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, 2006
 o
    
    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
 
 
 State of Delaware
(State or other jurisdiction of 
incorporation or organization)
    
    38-3528063
13-7255034
(Registrants IRS Employer Id. Nos.)3800 Hamlin Road 
Auburn Hills, Michigan
(Address of principal executive offices)
    
    48326
(Zip Code)
 (248) 754-5000
 
 None
 None
 o þ
 þ o
 þ o
 þ
  Large Accelerated Filer: o
    
    Accelerated Filer: o
    
    Non-Accelerated Filer: þ
 o þ
   See Item 15(b).




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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, Executive Officers of the Registrant and Corporate Governance.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, and Director Independence.Item 14. Principal Accountant Fees and Services.PART IVItem 15. Exhibits, Financial Statement Schedules.Section 302 CertificationAnnual CertificateReport of ActivitiesAnnual Distribution Statement    Table of Contents  FORM 10-K
 INTRODUCTORY NOTE
  
 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, 2006
    
    
    0
    
    
    
    0




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4.
    
    Aggregate Net Losses, for the year ended December 31, 2006:
    
    Amount ($000s)a.  Aggregate Net Losses
    
    
    
    
    
    
    0b.  Original Portfolio
    
    
    
    
    
    
    0c.  Aggregate Loss Ratio
    
    
    
    
    
    
    0.00
    %
 
 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, 2006, 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, Executive Officers of the Registrant and Corporate Governance.
  
 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, and Director Independence.
  
 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, 2006:
 Date
    
    Items ReportedFebruary 21, 2006
    
    Items 8.01, 9.01, Monthly Servicers Report*March 20, 2006
    
    Items 8.01, 9.01, Monthly Servicers Report*April 20, 2006
    
    Items 8.01, 9.01, Monthly Servicers Report*May 22, 2006
    
    Items 8.01, 9.01, Monthly Servicers Report*June 20, 2006
    
    Items 8.01, 9.01, Monthly Servicers Report*July 20, 2006
    
    Items 8.01, 9.01, Monthly Servicers Report*August 21, 2006
    
    Items 8.01, 9.01, Monthly Servicers Report*September 20, 2006
    
    Items 8.01, 9.01, Monthly Servicers Report*October 20, 2006
    
    Items 8.01, 9.01, Monthly Servicers Report*November 21, 2006
    
    Items 8.01, 9.01, Monthly Servicers Report*December 20, 2006
    
    Items 8.01, 9.01, Monthly Servicers Report*January 22, 2007
    
    Items 8.01, 9.01, Monthly Servicers Report*
 
 *
    
    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 TRUSTBy:
    VW CREDIT, INC., as Administrator By:
    
    /s/ Bruce
HarrisName:
    Bruce HarrisTitle:
    Chief Financial Officer VOLKSWAGEN 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: