<PAGE>


                                                                     EXHIBIT 4.5

                            ADMINISTRATION AGREEMENT

                                      among

                  NISSAN AUTO RECEIVABLES 2004-A OWNER TRUST,s
                                    as Issuer

                      NISSAN MOTOR ACCEPTANCE CORPORATION,
                                as Administrator

                     WELLS FARGO BANK, NATIONAL ASSOCIATION,
                              as Indenture Trustee

                                       and

                            WILMINGTON TRUST COMPANY,
                                as Owner Trustee

                          Dated as of February 25, 2004

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                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                  PAGE
                                                                                                                  ----
<S>                                                                                                               <C>
1.       DUTIES OF THE ADMINISTRATOR............................................................................    2

2.       RECORDS................................................................................................    8

3.       COMPENSATION...........................................................................................    8

4.       ADDITIONAL INFORMATION TO BE FURNISHED TO THE ISSUER...................................................    8

5.       INDEPENDENCE OF THE ADMINISTRATOR......................................................................    8

6.       NO JOINT VENTURE.......................................................................................    8

7.       OTHER ACTIVITIES OF ADMINISTRATOR......................................................................    8

8.       TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR............................................    8

9.       ACTION UPON TERMINATION, RESIGNATION OR REMOVAL........................................................   10

10.      NOTICES................................................................................................   10

11.      AMENDMENTS.............................................................................................   11

12.      SUCCESSOR AND ASSIGNS..................................................................................   11

13.      GOVERNING LAW..........................................................................................   12

14.      NO PETITION............................................................................................   12

15.      HEADINGS...............................................................................................   12

16.      COUNTERPARTS...........................................................................................   12

17.      SEVERABILITY OF PROVISIONS.............................................................................   12

18.      NOT APPLICABLE TO NMAC IN OTHER CAPACITIES.............................................................   12

19.      LIMITATION OF LIABILITY OF OWNER TRUSTEE AND INDENTURE TRUSTEE.........................................   12
</TABLE>



<PAGE>

         This ADMINISTRATION AGREEMENT, dated as of February 25, 2004 (this
"Agreement"), among NISSAN AUTO RECEIVABLES 2004-A OWNER TRUST, a Delaware
statutory trust (the "Issuer"), NISSAN MOTOR ACCEPTANCE CORPORATION, a
California corporation, as administrator (the "Administrator"), and Wells Fargo
Bank, NATIONAL ASSOCIATION, a national banking association, not in its
individual capacity but solely as Indenture Trustee (as defined below), and
WILMINGTON TRUST COMPANY, a Delaware banking corporation, not in its individual
capacity but solely as Owner Trustee (as defined below).

                              W I T N E S S E T H:

         WHEREAS, beneficial ownership interests in the Issuer represented by
the Nissan Auto Receivables 2004-A Owner Trust Asset Backed Certificates (the
"Certificates") have been issued in connection with the formation of the Issuer
pursuant to the Amended and Restated Trust Agreement, dated as of February 25,
2004 (the "Trust Agreement"), between Nissan Auto Receivables Corporation II
("NARC II"), a Delaware corporation, as depositor, and Wilmington Trust Company,
as owner trustee (the "Owner Trustee") to the owners thereof (the "Owners");

         WHEREAS, the Issuer is issuing the Nissan Auto Receivables 2004-A Owner
Trust 1.07000% Asset Backed Notes Class A-1, the Nissan Auto Receivables 2004-A
Owner Trust 1.40000% Asset Backed Notes Class A-2, the Nissan Auto Receivables
2004-A Owner Trust 2.01000% Asset Backed Notes Class A-3 and the Nissan Auto
Receivables 2004-A Owner Trust 2.76000% Asset Backed Notes Class A-4
(collectively, the "Notes") pursuant to the Indenture, dated as of February 25,
2004 (as amended and supplemented from time to time, the "Indenture"), between
the Issuer and Wells Fargo Bank, National Association, as indenture trustee (the
"Indenture Trustee"); capitalized terms used herein and not defined herein shall
have the meanings ascribed thereto in the Indenture, the Trust Agreement or the
Sale and Servicing Agreement, dated as of February 25, 2004, among the Issuer,
Nissan Motor Acceptance Corporation ("NMAC"), as servicer, and NARC II, as
seller (the "Sale and Servicing Agreement"), as the case may be;

         WHEREAS, the Issuer has entered into certain agreements in connection
with the issuance of the Certificates and the Notes, including the Purchase
Agreement, dated as of February 25, 2004 (the "Purchase Agreement"), between
NMAC, as seller, and NARC II, as purchaser, the Trust Agreement, the Indenture,
this Agreement, the Securities Account Control Agreement, the Yield Supplement
Agreement, the Note Depository Agreement and the Sale and Servicing Agreement
(collectively, the "Basic Documents");

         WHEREAS, pursuant to the Basic Documents, the Issuer is required to
perform certain duties in connection with the Certificates, the Notes and the
Collateral;

         WHEREAS, the Issuer desires to appoint NMAC as administrator to perform
certain of the duties of the Issuer under the Basic Documents and to provide
such additional services consistent with the terms of this Agreement and the
Basic Documents as the Issuer may from time to time request; and



<PAGE>

         WHEREAS, the Administrator has the capacity to provide the services
required hereby and is willing to perform such services for the Issuer 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 agree as follows:

         1.       DUTIES OF THE ADMINISTRATOR.

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

                           (i)      The Administrator agrees to perform all its
                  duties as Administrator under the Basic Documents and the
                  duties of the Issuer under the Note Depository Agreement and
                  the Indenture. In addition, the Administrator shall consult
                  with the Owner Trustee regarding the duties of the Issuer
                  under the Indenture and the Note Depository Agreement. The
                  Administrator shall monitor the performance of the Issuer and
                  shall advise the Owner Trustee when action by the Issuer or
                  the Owner Trustee is necessary to comply with the Issuer's
                  duties under the Indenture and the Note 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 as it shall be the duty of the
                  Issuer to prepare, file or deliver pursuant to the Indenture
                  and the Note Depository Agreement. In furtherance of the
                  foregoing, the Administrator shall take all appropriate action
                  that is the duty of the Issuer to take pursuant to the
                  Indenture including, without limitation, such of the foregoing
                  as are required with respect to the following matters under
                  the Indenture (references are to sections of the Indenture):

                                    (A)      preparing or obtaining the
                           documents and instruments required for the proper
                           authentication of Notes and delivering the same to
                           the Indenture Trustee (Section 2.02);

                                    (B)      appointing the Note Registrar and
                           giving 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)      preparing the notification to
                           Noteholders of the final principal payment on their
                           Notes (Section 2.07(b));

                                    (D)      preparing, obtaining and/or filing
                           of all instruments, opinions and certificates and
                           other documents required for the release of
                           Collateral (Section 2.09);

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

                                       2
<PAGE>

                                    (F)      causing 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);

                                    (G)      directing the Indenture Trustee to
                           deposit moneys with Paying Agents, if any, other than
                           the Indenture Trustee (Section 3.03);

                                    (H)      obtaining and preserving or causing
                           the Owner Trustee to obtain and preserve 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);

                                    (I)      preparing all supplements,
                           amendments, financing statements, continuation
                           statements, instruments of further assurance and
                           other instruments, in accordance with Section 3.05 of
                           the Indenture, necessary to protect the Trust Estate
                           (Sections 3.05 and 3.07(c));

                                    (J)      furnishing the required Opinions of
                           Counsel on the Closing Date and at such other times,
                           in accordance with Sections 3.06 and 8.06 of the
                           Indenture, and delivering the annual Officer's
                           Certificates and certain other statements as to
                           compliance with the Indenture, in accordance with
                           Section 3.09 of the Indenture (Sections 3.06, 3.09
                           and 8.06);

                                    (K)      identifying to the Indenture
                           Trustee in an Officer's Certificate any Person with
                           whom the Issuer has contracted to perform its duties
                           under the Indenture (Section 3.07);

                                    (L)      notifying the Indenture Trustee and
                           the Rating Agencies of any Servicer Default pursuant
                           to the Sale and Servicing Agreement and, if such
                           Servicer Default arises from the failure of the
                           Servicer to perform any of its duties under the Sale
                           and Servicing Agreement, taking all reasonable steps
                           available to remedy such failure (Section 3.07(d));

                                    (M)      preparing and obtaining documents
                           and instruments required in connection with the
                           consolidation, merger or transfer of assets of the
                           Issuer (Section 3.10);

                                    (N)      delivering notice to the Indenture
                           Trustee of each Event of Default and each other
                           default by the Servicer or the Seller under the Sale
                           and Servicing Agreement (Section 3.19);

                                    (O)      monitoring the Issuer's obligations
                           as to the satisfaction and discharge of the Indenture
                           and the preparation of an Officer's Certificate and
                           obtaining the Opinion of Counsel and the Independent
                           Certificate (as defined in the Indenture) related
                           thereto (Section 4.01);

                                       3
<PAGE>

                                    (P)      preparing and mailing the
                           notification of the Indenture Trustee and Noteholders
                           with respect to special payment dates, if any
                           (Section 5.04(d));

                                    (Q)      preparing and, after execution by
                           the Issuer and the Indenture Trustee, filing with the
                           Commission and any applicable state agencies of
                           documents required to be filed on a periodic basis
                           with the Commission and any applicable state agencies
                           (including any summaries thereof required by rules
                           and regulations prescribed thereby), and transmitting
                           of such summaries to the Noteholders (Section 7.03);

                                    (R)      preparing any Issuer Request and
                           Officer's Certificates and obtaining any Opinions of
                           Counsel and Independent Certificates necessary for
                           the release of the Trust Estate (Section 8.04);

                                    (S)      preparing Issuer Orders and
                           obtaining Opinions of Counsel with respect to the
                           execution of any supplemental indentures, and mailing
                           notices to the Noteholders with respect thereto
                           (Sections 9.01, 9.02 and 9.03);

                                    (T)      executing and delivering new Notes
                           conforming to the provisions of any supplemental
                           indenture, as appropriate (Section 9.06);

                                    (U)      preparing 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));

                                    (V)      preparing and delivering Officer's
                           Certificates and obtaining Independent Certificates,
                           if necessary, for the release of property or
                           securities from the lien of the Indenture (Section
                           11.01(c));

                                    (W)      notifying the Rating Agencies, upon
                           any failure of the Indenture Trustee to give such
                           notification, of the information required pursuant to
                           Section 11.04 of the Indenture (Section 11.04);

                                    (X)      preparing and delivering to the
                           Noteholders and the Indenture Trustee any agreements
                           with respect to alternate payment and notice
                           provisions (Section 11.06); and

                                    (Y)      recording the Indenture, if
                           applicable (Section 11.14).

                           (ii)     The Administrator shall also:

                                    (A)      pay the Indenture Trustee from time
                           to time the reasonable compensation provided for in
                           the Indenture with respect to services rendered by
                           the Indenture Trustee under the Indenture (which

                                       4
<PAGE>

                           compensation shall not be limited by any provision of
                           law in regard to the compensation of a trustee of an
                           express trust);

                                    (B)      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)
                           to the extent the Indenture Trustee is entitled to
                           such reimbursement by the Issuer under the Indenture;

                                    (C)      indemnify the Indenture Trustee
                           for, and hold it harmless against, any losses,
                           liability or expense incurred without negligence or
                           bad faith on the part of the Indenture Trustee,
                           arising out of or in connection with the acceptance
                           or administration of the trusts and duties
                           contemplated by the Indenture, including the
                           reasonable costs and expenses of defending themselves
                           against any claim or liability in connection
                           therewith to the extent the Indenture Trustee is
                           entitled to such indemnification from the Issuer
                           under the Indenture;

                                    (D)      pay the reasonable expense of any
                           examination or investigation by the Owner Trustee
                           undertaken pursuant to Section 7.01(e) of the Trust
                           Agreement, and if such expense is paid by the Owner
                           Trustee, then such expense shall be reimbursed by the
                           Administrator upon demand.

                  (b)      Additional Duties.

                           (i)      In addition to the duties of the
                  Administrator set forth above, the Administrator shall perform
                  such calculations, and shall prepare for execution by the
                  Issuer or the Owner Trustee or shall cause the preparation by
                  other appropriate persons of all such documents, reports,
                  filings, instruments, certificates and opinions as it shall be
                  the duty of the Issuer or the Owner Trustee to prepare, file
                  or deliver pursuant to the Basic Documents, and at the request
                  of the Owner Trustee shall take all appropriate action that it
                  is the duty of the Issuer or the Owner Trustee to take
                  pursuant to the Basic Documents. Subject to Section 5 of this
                  Agreement, and in accordance with the reasonable written
                  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
                  Basic Documents) 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 Basic Documents 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
                  Issuer's payments (or allocations of income) to a
                  Certificateholder as contemplated in Section 5.02(c) of the
                  Trust Agreement. Any such notice shall

                                       5
<PAGE>

                  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 Basic Documents to the contrary, the Administrator
                  shall be responsible for performance of the duties of the
                  Administrator set forth in Section 5.04(a), (b), (c), (d), (e)
                  and (f) of the Trust Agreement with respect to, among other
                  things, accounting and reports to the Certificateholders;
                  provided, however, that the Owner Trustee shall remain
                  exclusively responsible for the mailing of the Schedule K-1s
                  necessary to enable each Certificateholder to prepare its
                  federal and state income tax returns.

                           (iv)     The Administrator shall satisfy its
                  obligations with respect to clauses (ii) and (iii) above and
                  under the Trust Agreement by retaining, at the expense of the
                  Administrator, a firm of independent public accountants (the
                  "Accountants") which shall perform the obligations of the
                  Administrator thereunder; provided, however, that the
                  Certificateholder is not the Administrator or any of its
                  Affiliates.

                           In connection with paragraph (ii) above, the
                  Accountants will provide, prior to December 1 of each year, a
                  letter in form and substance satisfactory to the Owner Trustee
                  as to whether any tax withholding is then required and, if
                  required, the procedures to be followed with respect thereto
                  to comply with the requirements of the Code; provided,
                  however, that the Certificateholder is not the Administrator
                  or any of its Affiliates. 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)     The Administrator shall advise the Owner
                  Trustee in all regards with respect to its duties pursuant to
                  any Swap Agreement into which the Trust enters pursuant to
                  Section 5.02(d) of the Trust Agreement, including the
                  recommendation of and retention, at its expense, of any such
                  agents or advisors that are deemed by the Owner Trustee to be
                  reasonably necessary to undertake its duties pursuant to any
                  such Swap Agreement. Pursuant to Section 5.02(d) of the Trust
                  Agreement, if the Certificateholders notify the Administrator
                  with respect to the Trust's election to enter into such a Swap
                  Agreement, the Administrator will prepare all necessary and
                  appropriate documentation and take all of the necessary and
                  appropriate actions to cause the Issuer to enter into such a
                  Swap Agreement on behalf of the Trust.

                                       6
<PAGE>

                           (vii)    In carrying out the foregoing duties or any
                  of its other obligations under this Agreement, the
                  Administrator may enter into transactions with 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 (x) the
                  Administrator shall have notified the Owner Trustee of the
                  proposed action and the Owner Trustee shall have consented
                  thereto or provided an alternative direction, and (y) all
                  approvals required under the Basic Documents shall have been
                  obtained. For the purpose of the preceding sentence,
                  "non-ministerial matters" shall include, without limitation:

                                    (A)      the amendment of the Indenture or
                           execution of 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 Receivables);

                                    (C)      the amendment, change or
                           modification of any of the Basic Documents;

                                    (D)      the appointment of successor Note
                           Registrars or successor Paying Agents pursuant to the
                           Indenture or the appointment of successor
                           Administrators, or the consent to the assignment by
                           the Note Registrar, Paying Agent or Indenture Trustee
                           of its obligations, in each case 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 (x) make any payments to the Noteholders under
                  the Basic Documents, (y) sell the Trust Estate pursuant to
                  Section 5.04 of the Indenture or (z) take any other action
                  that the Issuer directs the Administrator not to take on its
                  behalf.

                  (d)      Swap Agreement. As set forth in Section 5.11 of the
                  Sale and Servicing Agreement, the Issuer may enter into a
                  currency Swap Agreement with a Swap Counterparty to swap
                  amounts payable to Certificateholders from U.S. dollars to
                  Japanese yen, according to the terms set forth in Section 5.11
                  of the Sale and Servicing Agreement and Section 5.02(d) of the
                  Trust Agreement.

                                       7
<PAGE>

         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, the Owner
Trustee and the Indenture Trustee at any time during normal business hours upon
reasonable advance written notice.

         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 a fee of
$200.00 per month which shall be solely an obligation of the Servicer.

         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.

         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, the Owner Trustee or the Indenture
Trustee with respect to the manner in which it accomplishes the performance of
its obligations hereunder. Unless expressly authorized by the Issuer hereunder
or otherwise, the Administrator shall have no authority to act for or represent
the Issuer, the Owner Trustee or the Indenture Trustee, and shall not otherwise
be or be deemed an agent of the Issuer, the Owner Trustee or the Indenture
Trustee.

         6.       NO JOINT VENTURE. Nothing contained in this Agreement shall
(i) constitute the Administrator and any of the Issuer, the Owner Trustee or the
Indenture 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.

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

         8.       TERM OF AGREEMENT; RESIGNATION AND REMOVAL OF ADMINISTRATOR.

                  (a)      This Agreement shall continue in force until the
         termination of the Issuer, upon which event this Agreement shall
         automatically terminate.

                  (b)      Subject to Sections 8(e) and 8(f), the Administrator
         may resign by providing the Issuer with at least 30 days' prior written
         notice.

                  (c)      Subject to Sections 8(e) and 8(f), the Issuer may
         remove the Administrator without cause by providing the Administrator
         at least 30 days' prior written notice.

                                       8
<PAGE>

                  (d)      Subject to Sections 8(e) and 8(f), 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:

                           (i)      the Administrator shall fail to perform in
                  any material respect any of its duties under this Agreement
                  and, after notice of such default, shall not cure such default
                  within 10 days (or, if such default cannot be cured in such
                  time, shall not give within such 10 days such assurance of
                  timely and complete cure as shall be reasonably satisfactory
                  to the Issuer);

                           (ii)     the entry of a decree or order by a court or
                  agency or supervisory authority having jurisdiction in the
                  premises for the appointment of a trustee in bankruptcy,
                  conservator, receiver or liquidator for the Administrator in
                  any bankruptcy, insolvency, readjustment of debt, marshalling
                  of assets and liabilities or similar proceedings, or for the
                  winding up or liquidation of their respective affairs, and the
                  continuance of any such decree or order unstayed and in effect
                  for a period of 90 consecutive days; or

                           (iii)    the consent by the Administrator to the
                  appointment of a trustee in bankruptcy, conservator or
                  receiver or liquidator in any bankruptcy, insolvency,
                  readjustment of debt, marshalling of assets and liabilities or
                  similar proceedings of or relating to the Administrator of or
                  relating to substantially all of their property, or the
                  Administrator shall admit in writing its inability to pay its
                  debts generally as they become due, file a petition to take
                  advantage of any applicable insolvency or reorganization
                  statute, make an assignment for the benefit of its creditors,
                  or voluntarily suspend payment of its obligations.

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

                  (e)      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 on substantially the same terms as the
         Administrator is bound hereunder.

                  (f)      The appointment of any successor Administrator shall
         be effective only after each Rating Agency (other than Moody's) has
         provided to the Owner Trustee and the Indenture Trustee notice that the
         proposed appointment will not result in the reduction or withdrawal of
         any rating, if any, then assigned by such Rating Agency to any Class of
         Notes or the Certificates. Promptly after the appointment of any
         successor Administrator, the Owner Trustee will provide notice of such
         appointment to Moody's (so long as Moody's is then rating any
         outstanding Notes).

                                       9
<PAGE>

                  (g)      Subject to Section 8(e) and 8(f), the Administrator
         acknowledges that upon the appointment of a Successor Servicer pursuant
         to the Sale and Servicing Agreement, the Administrator shall
         immediately resign and such Successor Servicer shall automatically
         succeed to the rights, duties and obligations of the Administrator
         under this Agreement.

         9.       ACTION UPON TERMINATION, RESIGNATION OR REMOVAL. Promptly upon
the effective date of termination of this Agreement pursuant to Section 8(a) or
the resignation or removal of the Administrator pursuant to Section 8(b) or 8(c)
or 8(d), 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 Section 8(a) deliver to or to the order of 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(b) or 8(c) or 8(d), 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.

         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:

                           Nissan Auto Receivables 2004-A Owner Trust
                           In care of: Wilmington Trust Company
                           Rodney Square North
                           1100 North Market Street
                           Wilmington, Delaware  19890
                           Attention: Nissan Auto Receivables 2004-A Owner Trust

                           with a copy to:

                           Nissan Auto Receivables 2004-A Owner Trust
                           In care of: Nissan Motor Acceptance Corporation
                           990 West 190th Street
                           Torrance, California  90502
                           Attention: Treasurer

                  (b)      if to the Administrator, to:

                           Nissan Motor Acceptance Corporation
                           990 West 190th Street
                           Torrance, California  90502
                           Attention: Treasurer

                                       10
<PAGE>

                  (c)      if to the Indenture Trustee, to:

                           Wells Fargo Bank, National Association
                           Wells Fargo Center
                           Sixth and Marquette Avenue,
                           MAC N9311-161
                           Minneapolis, MN 55479
                           Attn: Asset Backed Securities Department

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.

         11.      AMENDMENTS. This Agreement may be amended from time to time by
a written amendment duly executed and delivered by the Issuer, the
Administrator, and the Indenture Trustee, with the consent of the Owner Trustee
but without the consent of any Noteholders or the Certificateholders, for the
purpose of adding any provisions to or modifying or changing in any manner or
eliminating any of the provisions of this Agreement, provided that such
amendment does not and 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 from time to
time by the Issuer, the Administrator, and the Indenture Trustee with the
consent of the Owner Trustee and (i) the holders of Notes evidencing a majority
of the Outstanding Amount of the Notes, voting as a single class; or (ii) in the
case of any amendment that does not adversely affect the Indenture Trustee or
the Noteholders (as evidenced by an Officer's Certificate of the Servicer and an
outside Opinion of Counsel indicating that such amendment will not adversely
affect the Indenture Trustee or the Noteholders), the holders of the
Certificates evidencing a majority of the outstanding Certificate Balance of the
Certificates (but excluding for purposes of calculation and action all
Certificates held by the Seller, the Servicer or any of their Affiliates unless
at such time all Certificates are then owned by the Seller, the Servicer and
their Affiliates), 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 those Noteholders or Certificateholders
which are not covered by the immediately preceding sentence.

         12.      SUCCESSOR AND ASSIGNS. This Agreement may not be assigned by
the Administrator unless such assignment is consented to in writing by the
Issuer, the Owner Trustee and the Indenture Trustee, and the conditions
precedent to appointment of a successor Administrator set forth in Section 8 are
satisfied. 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, the
Owner Trustee and the Indenture 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 which
such corporation or other organization agrees to be bound hereunder by the

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<PAGE>

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.

         13.      GOVERNING LAW. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York, without
reference to its conflict of law provisions (other than Section 5-1401 of the
General Obligations Law of the State of New York), and the obligations, rights
and remedies of the parties hereunder shall be determined in accordance with
such laws.

         14.      NO PETITION. The Administrator, by entering into this
Administration Agreement, hereby covenants and agrees that it will not at any
time institute against the Issuer, or join in any institution against the Issuer
of any bankruptcy, reorganization, arrangement, insolvency or liquidation
proceedings, or other proceedings under any United States federal or state
bankruptcy or similar law, in connection with any obligations relating to the
Notes, the Certificates or any of the Basic Documents.

         15.      HEADINGS. The section 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.

         16.      COUNTERPARTS. This Agreement may be executed in counterparts,
each of which when so executed shall together constitute but one and the same
agreement.

         17.      SEVERABILITY OF PROVISIONS. If any one or more of the
agreements, provisions or terms of this Agreement shall be for any reason
whatsoever held invalid or unenforceable in any jurisdiction, then such
agreements, provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and shall in no way
affect the validity or enforceability of the other provisions of this Agreement
or the other rights of the parties hereto.

         18.      NOT APPLICABLE TO NMAC IN OTHER CAPACITIES. Nothing in this
Agreement shall affect any obligation, right or benefit NMAC may have in any
other capacity or under any Basic Document.

         19.      LIMITATION OF LIABILITY OF OWNER TRUSTEE AND INDENTURE
TRUSTEE. Notwithstanding anything contained herein to the contrary, this
instrument has been countersigned by Wilmington Trust Company, not in its
individual capacity but solely in its capacity as Owner Trustee of the Issuer,
and Wells Fargo Bank, National Association, not in its individual capacity but
solely in its capacity as Indenture Trustee under the Indenture and in no event
shall Wilmington Trust Company in its individual capacity, Wells Fargo Bank,
National Association, in its individual capacity, or any Certificateholder 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.

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<PAGE>

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

                                 NISSAN AUTO RECEIVABLES 2004-A OWNER TRUST

                                 By:  WILMINGTON TRUST COMPANY,
                                      not in its individual capacity but solely
                                      as Owner Trustee

                                          By:  /s/ Emmett R. Harmon
                                              ---------------------------------
                                              Name: Emmett R. Harmon
                                              Title: Vice President

                                 WELLS FARGO BANK, NATIONAL ASSOCIATION,
                                 not in its individual capacity but solely as
                                 Indenture Trustee

                                 By:   /s/ Marianna C. Stershic
                                     -------------------------------------------
                                     Name: Marianna C. Stershic
                                     Title: Vice President

                                 NISSAN MOTOR ACCEPTANCE CORPORATION,
                                 as Administrator

                                 By:  /s/ Steven R. Lambert
                                     -------------------------------------------
                                      Name: Steven R. Lambert
                                      Title: President

                                 WILMINGTON TRUST COMPANY, not in its individual
                                 capacity but solely as Owner Trustee

                                 By: /s/  Emmett R. Harmon
                                     -------------------------------------------
                                     Name: Emmett R. Harmon
                                     Title:  Vice President

                                      S-1