CREDITSUISSE FIRST BOSTON PAGE 1

AMERICAN HONDAFINANCE CORPORATIONAnnual Statement toCertificateholder—Honda Auto Receivables 2004-2 OwnerTrust04/01/05 through03/31/06

|                                                   |  |  |                   |  |  |        |
|---------------------------------------------------|--|--|-------------------|--|--|--------|
| I.ORIGINAL DEAL PARAMETERINPUTS                   |  |  |              |  |  |   |
| (A) TotalPortfolio Balance                        |  |  | $1,872,756,536.96 |  |  |   |
| (B)Total Securities Balance                       |  |  | $1,872,756,536.96 |  |  |   |
| (C) ClassA-1 Notes                                |  |  |              |  |  |   |
| (i)Class A-1 NotesBalance                         |  |  | $471,000,000.00   |  |  |   |
| (ii) ClassA-1 Notes Percentage (C(i)/B)           |  |  | 25.15%            |  |  |   |
| (iii) Class A-1 NotesRate                         |  |  | 1.63000%          |  |  |   |
| (iv) ClassA-1 Notes Accrual Basis                 |  |  | Actual/360        |  |  |   |
| (D)Class A-2Notes                                 |  |  |              |  |  |   |
| (i) ClassA-2 Notes Balance                        |  |  | $534,000,000.00   |  |  |   |
| (ii) Class A-2 NotesPercentage (D(i)/B)           |  |  | 28.51%            |  |  |   |
| (iii) Class A-2 NotesRate                         |  |  | 2.520%            |  |  |   |
| (iv) Class A-2Notes Accrual Basis                 |  |  | 30/360            |  |  |   |
| (E)Class A-3Notes                                 |  |  |              |  |  |   |
| (i) ClassA-3 Notes Balance                        |  |  | $535,000,000.00   |  |  |   |
| (ii) Class A-3 NotesPercentage (E(i)/B)           |  |  | 28.57%            |  |  |   |
| (iii) Class A-3 NotesRate                         |  |  | 3.300%            |  |  |   |
| (iv) Class A-3Notes Accrual Basis                 |  |  | 30/360            |  |  |   |
| (F)Class A-4Notes                                 |  |  |              |  |  |   |
| (i) ClassA-4 Notes Balance                        |  |  | $271,900,000.00   |  |  |   |
| (ii) Class A-4 NotesPercentage (F(i)/B)           |  |  | 14.52%            |  |  |   |
| (iii) Class A-4 NotesRate                         |  |  | 3.810%            |  |  |   |
| (iv) Class A-4Notes Accrual Basis                 |  |  | 30/360            |  |  |   |
| (G)Certificates                                   |  |  |              |  |  |   |
| (i)Certificates Balance                           |  |  | $60,856,536.96    |  |  |   |
| (ii) CertificatesPercentage (G(i)/B)              |  |  | 3.25%             |  |  |   |
| (iii) CertificatesRate                            |  |  | 3.810%            |  |  |   |
| (iv)Certificates Accrual Basis                    |  |  | 30/360            |  |  |   |
| (H)Servicing FeeRate                              |  |  | 1.00%             |  |  |   |
| (I)PortfolioSummary                               |  |  |              |  |  |   |
| (i)Weighted Average Coupon (WAC)                  |  |  | 4.39%             |  |  |   |
| (ii) Weighted AverageOriginal Maturity (WAOM)     |  |  | 58.52             |  |  | months |
| (iii)Weighted Average Remaining Maturity (WAM)    |  |  | 50.49             |  |  | months |
| (iv) Number ofReceivables                         |  |  | 126,088           |  |  |   |
| (J)Reserve Fund                                   |  |  |              |  |  |   |
| (i)Reserve Account Initial Deposit Percentage     |  |  | 0.50%             |  |  |   |
| (ii) Reserve AccountInitial Deposit               |  |  | $9,363,782.68     |  |  |   |
| (iii) Specified ReserveAccountPercentage          |  |  | 0.75%             |  |  |   |
| (iv)Specified Reserve AccountBalance              |  |  | $14,045,674.03    |  |  |   |
| (K)Yield Supplement Account Deposit               |  |  | $22,749,280.19    |  |  |   |
| II.INPUTS FROM PREVIOUS MONTHLY SERVICERREPORTS   |  |  |              |  |  |   |
| (A) Total PortfolioBalance                        |  |  | $1,324,126,714.24 |  |  |   |
| (B)Total Securities Balance                       |  |  | $1,324,126,714.24 |  |  |   |
| (C) Cumulative Noteand Certificate Pool Factor    |  |  | 0.7070469         |  |  |   |
| (D) Class A-1Notes                                |  |  |              |  |  |   |
| (i) ClassA-1 Notes Balance                        |  |  | $0.00             |  |  |   |
| (ii) ClassA-1 Notes Pool Factor                   |  |  | 0.0000000         |  |  |   |
| (iii) Class A-1 NotesInterest Carryover Shortfall |  |  | $0.00             |  |  |   |
| (iv) Class A-1 Notes PrincipalCarryover Shortfall |  |  | $0.00             |  |  |   |
| (E)Class A-2Notes                                 |  |  |              |  |  |   |
| (i) ClassA-2 Notes Balance                        |  |  | $458,789,623.75   |  |  |   |
| (ii) Class A-2 NotesPool Factor                   |  |  | 0.8591566         |  |  |   |
| (iii) ClassA-2 Notes Interest Carryover Shortfall |  |  | $0.00             |  |  |   |
| (iv) Class A-2 Notes PrincipalCarryover Shortfall |  |  | $0.00             |  |  |   |
| (F)Class A-3Notes                                 |  |  |              |  |  |   |
| (i) ClassA-3 Notes Balance                        |  |  | $535,000,000.00   |  |  |   |
| (ii) Class A-3 NotesPool Factor                   |  |  | 1.0000000         |  |  |   |
| (iii) ClassA-3 Notes Interest Carryover Shortfall |  |  | $0.00             |  |  |   |
| (iv) Class A-3 Notes PrincipalCarryover Shortfall |  |  | $0.00             |  |  |   |
| (G)Class A-4Notes                                 |  |  |              |  |  |   |
| (i) ClassA-4 Notes Balance                        |  |  | $271,900,000.00   |  |  |   |
| (ii) Class A-4 NotesPool Factor                   |  |  | 1.0000000         |  |  |   |
| (iii) ClassA-4 Notes Interest Carryover Shortfall |  |  | $0.00             |  |  |   |
| (iv) Class A-4 Notes PrincipalCarryover Shortfall |  |  | $0.00             |  |  |   |
|                                                   |

----

|                                                |  |  |                |  |  |        |
|------------------------------------------------|--|--|----------------|--|--|--------|
| (H)Certificates                                |  |  |           |  |  |   |
| (i)Certificates Balance                        |  |  | $58,437,090.49 |  |  |   |
| (ii) Certificates PoolFactor                   |  |  | 0.9602434      |  |  |   |
| (iii)Certificates Interest Carryover Shortfall |  |  | $0.00          |  |  |   |
| (iv) Certificates PrincipalCarryover Shortfall |  |  | $0.00          |  |  |   |
| (I)ServicingFee                                |  |  |           |  |  |   |
| (i)Servicing Fee Shortfall                     |  |  | $0.00          |  |  |   |
| (J)End of Prior Month AccountBalances          |  |  |           |  |  |   |
| (i)Reserve Account                             |  |  | $14,045,674.03 |  |  |   |
| (ii) Yield SupplementAccount                   |  |  | $13,587,110.94 |  |  |   |
| (iii)Payahead Account                          |  |  | $0.00          |  |  |   |
| (iv)AdvancesOutstanding                        |  |  | $351,557.87    |  |  |   |
| (K)Portfolio Summary as of End of PriorYear    |  |  |           |  |  |   |
| (i)Weighted Average Coupon (WAC)               |  |  | 4.27%          |  |  |   |
| (ii) Weighted AverageRemaining Maturity (WAM)  |  |  | 41.55          |  |  | months |
| (iii) Number ofReceivables                     |  |  | 105,797        |  |  |   |
| (L)Note and CertificatePercentages             |  |  |           |  |  |   |
| (i)Note Percentage                             |  |  | 95.66%         |  |  |   |
| (ii)Certificate Percentage                     |  |  | 4.34%          |  |  |   |
|                                                |

----

CREDIT SUISSE FIRST BOSTONPAGE 2

AMERICAN HONDA FINANCECORPORATIONAnnual Statement to Certificateholder—Honda AutoReceivables 2004-2 Owner Trust04/01/05 through 03/31/06

|                                                                    |  |  |                 |  |  |        |
|--------------------------------------------------------------------|--|--|-----------------|--|--|--------|
| III.INPUTS FROM THEMAINFRAME                                       |  |  |            |  |  |   |
| (A)Precomputed ContractsPrincipal                                  |  |  |            |  |  |   |
| (i) ScheduledPrincipal Collections                                 |  |  | $0.00           |  |  |   |
| (ii)Prepayments in Full                                            |  |  | $0.00           |  |  |   |
| (iii)Prepayments in Full due to Repurchases                        |  |  | $0.00           |  |  |   |
| (B) PrecomputedContracts Total Collections                         |  |  | $0.00           |  |  |   |
| (C) PrecomputedInterest Receivables Interest (B-A((i)+(ii)+(iii))) |  |  | $0.00           |  |  |   |
| (D)Simple Interest ReceivablesPrincipal                            |  |  |            |  |  |   |
| (i)Principal Collections                                           |  |  | $359,876,660.21 |  |  |   |
| (ii) Prepayments inFull                                            |  |  | $174,920,537.94 |  |  |   |
| (iii)Repurchased Receivables Related to Principal                  |  |  | $0.00           |  |  |   |
| (E)Simple Interest ReceivablesInterest                             |  |  |            |  |  |   |
| (i) SimpleInterest Collections                                     |  |  | $44,823,165.79  |  |  |   |
| (F)Payment Advance forPrecomputes                                  |  |  |            |  |  |   |
| (i)Reimbursement of Previous Advances                              |  |  | $0.00           |  |  |   |
| (ii) Current Advance Amount                                        |  |  | $0.00           |  |  |   |
| (G) InterestAdvance for simple Interest–Net                  |  |  | $(118,431.81)   |  |  |   |
| (H)PayaheadAccount                                                 |  |  |            |  |  |   |
| (i)Payments Applied                                                |  |  | $0.00           |  |  |   |
| (ii)AdditionalPayaheads                                            |  |  | $0.00           |  |  |   |
| (I)Portfolio Summary as of End ofMonth                             |  |  |            |  |  |   |
| (i)Weighted Average Coupon (WAC)                                   |  |  | 4.18%           |  |  |   |
| (ii) Weighted AverageRemaining Maturity (WAM)                      |  |  | 30.30           |  |  | months |
| (iii)Remaining Number of Receivables                               |  |  | 80,790          |  |  |   |
|                                                                    |

|                                                       |  |  |        |  |        |               |  |  |        |  |  |                |  |  |        |
|-------------------------------------------------------|--|--|--------|--|--------|---------------|--|--|--------|--|--|----------------|--|--|--------|
|                                                  |  |  | #Units |  |        | Dollar Amount |
| (J)DelinquentReceivables                              |  |  |        |  |   |               |  |  |   |  |  |           |  |  |   |
| (i)30-59 Days Delinquent                              |  |  |        |  | 1,868  |               |  |  | 2.31%  |  |  | $18,512,404.30 |  |  | 2.37%  |
| (ii)60-89 Days Delinquent                             |  |  |        |  | 423    |               |  |  | 0.52%  |  |  | $4,478,487.69  |  |  | 0.57%  |
| (ii)90 Days or More Delinquent                        |  |  |        |  | 57     |               |  |  | 0.07%  |  |  | $590,950.82    |  |  | 0.08%  |
| (K)Vehicles Repossessed During CollectionPeriod       |  |  |        |  | 41     |               |  |  | 0.05%  |  |  | $500,913.62    |  |  | 0.06%  |
| (L)Total Accumulated Repossessed Vehicles inInventory |  |  |        |  | 76     |               |  |  | 0.09%  |  |  | $891,587.44    |  |  | 0.11%  |
|                                                       |

|                                                                        |  |  |                 |
|------------------------------------------------------------------------|--|--|-----------------|
| IV.INPUTS DERIVED FROM OTHERSOURCES                                    |  |  |            |
| (A) CollectionAccount InvestmentIncome                                 |  |  | $0.00           |
| (B)Reserve Account Investment Income                                   |  |  | $511,649.89     |
| (C) YieldSupplement Account InvestmentIncome                           |  |  | $353,311.78     |
| (D)Trust FeesExpense                                                   |  |  | $11,000.00      |
| (E)Aggregate Net Losses for Collection Period                          |  |  | $3,650,712.14   |
| (F)Liquidated ReceivablesInformation                                   |  |  |            |
| (i)Gross Principal Balance on LiquidatedReceivables                    |  |  | $9,221,784.29   |
| (ii) LiquidationProceeds                                               |  |  | $3,475,193.01   |
| (ii) Recoveries fromPrior Month Charge Offs                            |  |  | $2,095,879.14   |
| (G) Days inAccrual Period                                              |  |  | 367             |
| (H)Dealage                                                             |  |  | 22              |
| COLLECTIONS                                                            |
| V.INTEREST COLLECTIONS                                                 |  |  |            |
| (A)Total Interest Collections(III(C+E(i)+G)                            |  |  | $44,704,733.98  |
| VI.PRINCIPAL COLLECTIONS                                               |  |  |            |
| (A) PrincipalPayments Received (III(A((i)+(ii))+(D(i)+(ii)))           |  |  | $534,797,198.15 |
| (B) Liquidation Proceeds(IV(H(i)))                                     |  |  | $3,475,193.01   |
| (C) RepurchasedLoan Proceeds Related to Principal (III(A(iii)+D(iii))) |  |  | $0.00           |
| (D) Recoveries from Prior Charge Offs(IV(H(ii)))                       |  |  | $2,095,879.14   |
| (E) TotalPrincipal Collections (A+B+C+D)                               |  |  | 540,368,270.30  |
| VII.TOTAL INTEREST AND PRINCIPAL COLLECTIONS (V(C)+VI(E))              |  |  | 585,073,004.28  |
| VIII.YIELD SUPPLEMENTDEPOSIT                                           |  |  | $7,956,846.94   |
| IX.TOTAL AVAILABLE AMOUNT (VII+VIII)                                   |  |  | 593,029,851.22  |
|                                                                        |

----

|                                                       |  |  |  |   |               |  |  |  |  |  |  |  |  |  |  |
|-------------------------------------------------------|--|--|--|---|---------------|--|--|--|--|--|--|--|--|--|--|
| DISTRIBUTIONS                                         |
| X.FEEDISTRIBUTIONS                                    |  |  |  |   |          |  |
| (A)Servicing Fee                                      |  |  |  |   |          |  |
| (i)Servicing Fee Due(I(H)/12)(II(B))+(II(H)(i))       |  |  |  | $ | 10,619,523.46 |  |
| (ii)Servicing Fee Paid                                |  |  |  |   | 10,619,523.46 |  |
| (iii)Servicing Fee Shortfall                          |  |  |  | $ | 0.00          |  |
| (B) Reserve AccountInvestment Income (IV(B))          |  |  |  |   | 511,649.89    |  |
| (C) Yield Supplement AccountInvestment Income (IV(C)) |  |  |  |   | 0.00          |  |
| (D)Trust Fees Expense(IV(D))                          |  |  |  |   | 11,000.00     |  |
| XI.DISTRIBUTIONS TONOTEHOLDERS                        |  |  |  |   |          |  |
| (A)Interest                                           |  |  |  |   |          |  |
| (i)Class A-1 Notes                                    |  |  |  |   |          |  |
| (a) ClassA-1 Notes Interest Due                       |  |  |  | $ | 0.00          |  |
| (b) Class A-1Notes Interest Paid                      |  |  |  |   | 0.00          |  |
| (c) Class A-1 NotesInterest Shortfall                 |  |  |  | $ | 0.00          |  |
| (ii) Class A-2Notes                                   |  |  |  |   |          |  |
| (a) Class A-2 Notes Interest Due                      |  |  |  | $ | 5,284,501.56  |  |
| (b) Class A-2 Notes InterestPaid                      |  |  |  |   | 5,284,501.56  |  |
| (c)Class A-2 Notes Interest Shortfall                 |  |  |  | $ | 0.00          |  |
| (iii) ClassA-3 Notes                                  |  |  |  |   |          |  |
| (a) Class A-3 Notes InterestDue                       |  |  |  | $ | 17,598,608.86 |  |
| (b) Class A-3 NotesInterest Paid                      |  |  |  |   | 17,598,608.86 |  |
| (c) Class A-3Notes Interest Shortfall                 |  |  |  | $ | 0.00          |  |
| (iv) Class A-4Notes                                   |  |  |  |   |          |  |
| (a) Class A-4 Notes Interest Due                      |  |  |  | $ | 10,359,390.00 |  |
| (b) Class A-4 Notes InterestPaid                      |  |  |  |   | 10,359,390.00 |  |
| (c)Class A-4 Notes Interest Shortfall                 |  |  |  | $ | 0.00          |  |
|                                                       |

----

CREDIT SUISSE FIRST BOSTONPAGE 3

AMERICAN HONDA FINANCECORPORATIONAnnual Statement to Certificateholder—Honda AutoReceivables 2004-2 Owner Trust04/01/05 through 03/31/06

|                                                                                              |  |  |                 |
|----------------------------------------------------------------------------------------------|--|--|-----------------|
| (v)Total Note Interest                                                                       |  |  |            |
| (a)Total Note Interest Due                                                                   |  |  | $33,242,500.42  |
| (b)Total Note Interest Paid                                                                  |  |  | 33,242,500.42   |
| (c) TotalNote Interest Shortfall                                                             |  |  | $0.00           |
| (d) ReserveFund Withdrawn for Note Interest                                                  |  |  | $0.00           |
| Amount available for distributionsafter Fees & Interest(VIII-(IX(A)(ii)-(D))-X(A)(v)(b)) |  |  | 549,156,827.34  |
| (B)Principal                                                                                 |  |  |            |
| (i)Noteholders' Principal Distribution Amounts                                               |  |  | $520,408,558.59 |
| (ii) Class A-1 NotesPrincipal                                                                |  |  |            |
| (a) Class A-1Notes Principal Due                                                             |  |  | —         |
| (b) Class A-1Notes Principal Paid                                                            |  |  | 0.00            |
| (c) Class A-1 NotesPrincipal Shortfall                                                       |  |  | $0.00           |
| (d) Reserve Funddrawn                                                                        |  |  | $0.00           |
| (iii) ClassA-2 Notes Principal                                                               |  |  |            |
| (a)Class A-2 Notes Principal Due                                                             |  |  | $458,789,623.75 |
| (b) Class A-2 Notes PrincipalPaid                                                            |  |  | 458,789,623.75  |
| (c) ClassA-2 Notes Principal Shortfall                                                       |  |  | $0.00           |
| (d)Reserve Fund drawn                                                                        |  |  | $0.00           |
| (iv) Class A-3Notes Principal                                                                |  |  |            |
| (a) ClassA-3 Notes Principal Due                                                             |  |  | $61,618,934.84  |
| (b)Class A-3 Notes Principal Paid                                                            |  |  | 61,618,934.84   |
| (c) Class A-3Notes Principal Shortfall                                                       |  |  | $0.00           |
| (d) ReserveFund drawn                                                                        |  |  | $0.00           |
| (v) Class A-4Notes Principal                                                                 |  |  |            |
| (a) ClassA-4 Notes Principal Due                                                             |  |  | $0.00           |
| (b) Class A-4Notes Principal Paid                                                            |  |  | 0.00            |
| (c) Class A-4 NotesPrincipal Shortfall                                                       |  |  | $0.00           |
| (d) Reserve Funddrawn                                                                        |  |  | $0.00           |
| (vi) TotalNotes Principal                                                                    |  |  |            |
| (a) TotalNotes Principal Due                                                                 |  |  | $520,408,558.59 |
| (b)Total Notes Principal Paid                                                                |  |  | 520,408,558.59  |
| (c) Total Notes PrincipalShortfall                                                           |  |  | $0.00           |
| (d) Reserve Fund drawn                                                                       |  |  | $0.00           |
| XII.RESERVE FUNDDEPOSIT                                                                      |  |  |            |
| Amount availablefor deposit into reserveaccount                                              |  |  | $28,748,268.75  |
| Amount deposited intoreserve account                                                         |  |  | 0.00            |
| Excess Amount Releasedfrom ReserveAccount                                                    |  |  | 0.00            |
| Excessfunds available toCertificateholders                                                   |  |  | 28,748,268.75   |
| XIII.DISTRIBUTIONS TOCERTIFICATEHOLDERS                                                      |  |  |            |
| (A)Interest                                                                                  |  |  |            |
| (i) CertificateMonthly Interest Due                                                          |  |  | $1,793,228.47   |
| (ii)Certificate Interest Shortfall BeginningBalance                                          |  |  | $0.00           |
| (iii) Total CertificateInterest Due                                                          |  |  | $1,793,228.47   |
| (iv) CertificateInterest Paid                                                                |  |  | 1,793,228.47    |
| (v)Certificate Interest Shortfall EndingBalance                                              |  |  | $0.00           |
| (B)Principal                                                                                 |  |  |            |
| (i) CertificateMonthly Principal Due                                                         |  |  | $23,610,423.85  |
| (ii)Certificate Principal Shortfall BeginningBalance                                         |  |  | $91,695.40      |
| (iii) Total CertificatePrincipal Due                                                         |  |  | $23,702,119.25  |
| (iv)Certificate Principal Paid                                                               |  |  | 23,610,423.85   |
| (v)Certificate Principal Shortfall EndingBalance                                             |  |  | $91,695.40      |
| (C)Release to Seller                                                                         |  |  | $3,344,616.43   |
|                                                                                              |

----

|                                                |  |  |                 |
|------------------------------------------------|--|--|-----------------|
| DISTRIBUTIONSSUMMARY                           |
| (A) Total Collections                          |  |  | $593,029,851.22 |
| (B) ServiceFee                                 |  |  | $10,619,523.46  |
| (C) TrusteeFees                                |  |  | 11,000.00       |
| (D) Class A1Amount                             |  |  | $0.00           |
| (E) Class A2Amount                             |  |  | $464,074,125.31 |
| (F) Class A3Amount                             |  |  | $79,217,543.70  |
| (G) Class A4Amount                             |  |  | $10,359,390.00  |
| (H) Amount Depositedinto Reserve Account       |  |  | $0.00           |
| (I)Certificateholders                          |  |  | $25,403,652.32  |
| (J)Release to seller                           |  |  | $3,344,616.43   |
| (K) Totalamount distributed                    |  |  | $593,029,851.22 |
| (L)Amount of Draw from Reserve Account         |  |  | 0.00            |
| (M) Excess Amount Released from ReserveAccount |  |  | 0.00            |
|                                                |

|                                                         |  |  |                   |   |                  |        |  |  |              |  |  |        |   |                |  |  |  |        |
|---------------------------------------------------------|--|--|-------------------|---|------------------|--------|--|--|--------------|--|--|--------|---|----------------|--|--|--|--------|
| PORTFOLIOAND SECURITYSUMMARY                            |
|                                                    |  |  | BeginningofPeriod |   |                  |   |  |  | Endof Period |  |  |   |
| XIV. POOL BALANCES AND PORTFOLIOINFORMATION             |  |  |                   |   |             |        |  |  |         |  |  |        |   |           |  |  |  |   |
| (A)Balances and PrincipalFactors                        |  |  |                   |   |             |        |  |  |         |  |  |        |   |           |  |  |  |   |
| (i)Aggregate Balance of Notes                           |  |  |                   | $ | 1,265,689,623.75 |        |  |  |         |  |  |        | $ | 745,281,065.16 |  |  |  |   |
| (ii)Note Pool Factor                                    |  |  |                   |   | 0.6985428        |        |  |  |         |  |  |        |   | 0.4113257      |  |  |  |   |
| (iii)Class A-1 Notes Balance                            |  |  |                   |   | 0.00             |        |  |  |         |  |  |        |   | 0.00           |  |  |  |   |
| (iv) ClassA-1 Notes Pool Factor                         |  |  |                   |   | 0.0000000        |        |  |  |         |  |  |        |   | 0.0000000      |  |  |  |   |
| (v)Class A-2 Notes Balance                              |  |  |                   |   | 458,789,623.75   |        |  |  |         |  |  |        |   | 0.00           |  |  |  |   |
| (vi)Class A-2 Notes Pool Factor                         |  |  |                   |   | 0.8591566        |        |  |  |         |  |  |        |   | 0.0000000      |  |  |  |   |
| (vii)Class A-3 Notes Balance                            |  |  |                   |   | 535,000,000.00   |        |  |  |         |  |  |        |   | 473,381,065.16 |  |  |  |   |
| (viii)Class A-3 Notes Pool Factor                       |  |  |                   |   | 1.0000000        |        |  |  |         |  |  |        |   | 0.8848244      |  |  |  |   |
| (ix)Class A-4 Notes Balance                             |  |  |                   |   | 271,900,000.00   |        |  |  |         |  |  |        |   | 271,900,000.00 |  |  |  |   |
| (x)Class A-4 Notes Pool Factor                          |  |  |                   |   | 1.0000000        |        |  |  |         |  |  |        |   | 1.0000000      |  |  |  |   |
| (xi)Certificates Balance                                |  |  |                   |   | 58,437,090.49    |        |  |  |         |  |  |        |   | 34,826,666.64  |  |  |  |   |
| (xii)Certificates Pool Factor                           |  |  |                   |   | 0.9602434        |        |  |  |         |  |  |        |   | 0.5722749      |  |  |  |   |
| (xiii)Total Principal Balance of Notes and Certificates |  |  |                   |   | 1,324,126,714.24 |        |  |  |         |  |  |        |   | 780,107,731.80 |  |  |  |   |
| (B)PortfolioInformation                                 |  |  |                   |   |             |        |  |  |         |  |  |        |   |           |  |  |  |   |
| (i)Weighted Average Coupon (WAC)                        |  |  | 4.27%             |   |                  |   |  |  | 4.18%        |  |  |   |
| (ii)Weighted Average Remaining Maturity (WAM)           |  |  |                   |   | 41.55            |        |  |  | months       |  |  |        |   | 30.30          |  |  |  | months |
| (iii)Remaining Number of Receivables                    |  |  |                   |   | 105,797          |        |  |  |         |  |  |        |   | 80,790         |  |  |  |   |
| (iv)Portfolio Receivable Balance                        |  |  |                   | $ | 1,324,126,714.24 |        |  |  |         |  |  |        | $ | 780,107,731.80 |  |  |  |   |
| (C)Outstanding AdvanceAmount                            |  |  |                   |   | $351,557.87      |        |  |  |         |  |  |        |   | $233,126.06    |  |  |  |   |
| (D)Outstanding PayaheadBalance                          |  |  |                   |   | $0.00            |        |  |  |         |  |  |        |   | $0.00          |  |  |  |   |
|                                                         |

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CREDIT SUISSE FIRST BOSTONPAGE 4

AMERICAN HONDA FINANCECORPORATIONAnnual Statement to Certificateholder—Honda AutoReceivables 2004-2 Owner Trust04/01/05 through03/31/06

|                                                       |  |  |       |   |               |  |
|-------------------------------------------------------|--|--|-------|---|---------------|--|
| SUMMARYOF ACCOUNTS                                    |
| XV. RECONCILIATION OF RESERVEACCOUNT                  |  |  |       |   |          |  |
| (A) BeginningReserve Account Balance                  |  |  |       | $ | 14,045,674.03 |  |
| (B)Draws                                              |  |  |       |   |          |  |
| (i) Draw forServicing Fee                             |  |  |       |   | 0.00          |  |
| (ii) Draw forInterest                                 |  |  |       |   | 0.00          |  |
| (iii) Draw for RealizedLosses                         |  |  |       |   | 0.00          |  |
| (C) ExcessInterest Deposited into the Reserve Account |  |  |       |   | 0.00          |  |
| (D) Reserve Account Balance Prior toRelease           |  |  |       |   | 14,045,674.03 |  |
| (E) Reserve AccountRequired Amount                    |  |  |       |   | 14,045,674.03 |  |
| (F) FinalReserve Account Required Amount              |  |  |       |   | 14,045,674.03 |  |
| (G) Excess Reserve AccountAmount                      |  |  |       |   | 0.00          |  |
| (H) Ending Reserve AccountBalance                     |  |  |       |   | 14,045,674.03 |  |
| XVI.RECONCILIATION OF YIELD SUPPLEMENTACCOUNT         |  |  |       |   |          |  |
| (A) BeginningYield Supplement AccountBalance          |  |  |       |   | 13,587,110.94 |  |
| (B) InvestmentEarnings                                |  |  |       |   | 353,311.78    |  |
| (C) Investment EarningsWithdraw                       |  |  |       |   | 0.00          |  |
| (D) Additional YieldSupplement Amounts                |  |  |       |   | 0.00          |  |
| (E) Yield SupplementDeposit Amount                    |  |  |       |   | 7,956,846.94  |  |
| (F) Release ofYield Deposit Account Balance toSeller  |  |  |       |   | 0.00          |  |
| (G) EndingYield Supplement AccountBalance             |  |  |       |   | 5,983,575.78  |  |
| XVII.NET LOSS AND DELINQUENCY ACCOUNTACTIVITY         |  |  |       |   |          |  |
| (A) LiquidatedContracts                               |  |  |       |   |          |  |
| (i) LiquidationProceeds                               |  |  |       |   | $3,475,193.01 |  |
| (ii)Recoveries on Previously Liquidated Contracts     |  |  |       |   | 2,095,879.14  |  |
| (B) Aggregate NetLosses for Collection Period         |  |  |       |   | 3,650,712.14  |  |
| (C) Net Loss Rate for CollectionPeriod (annualized)   |  |  | 0.35% |
| (D)Cumulative Net Losses for all Periods              |  |  |       |   | 7,222,510.16  |  |
|                                                       |

|                                                       |  |  |        |  |        |              |  |  |  |  |        |   |  |  |                |  |  |  |  |        |   |
|-------------------------------------------------------|--|--|--------|--|--------|--------------|--|--|--|--|--------|---|--|--|----------------|--|--|--|--|--------|---|
| (E) DelinquentReceivables                             |  |  |        |  |   |              |  |  |  |  |   |   |  |  |           |  |  |  |  |   |   |
|                                                  |  |  | #Units |  |        | DollarAmount |
| (i) 30-59 DaysDelinquent                              |  |  |        |  | 1,868  |              |  |  |  |  | 2.31   | % |  |  | $18,512,404.30 |  |  |  |  | 2.37   | % |
| (ii)60-89 Days Delinquent                             |  |  |        |  | 423    |              |  |  |  |  | 0.52   | % |  |  | $4,478,487.69  |  |  |  |  | 0.57   | % |
| (ii)90 Days or More Delinquent                        |  |  |        |  | 57     |              |  |  |  |  | 0.07   | % |  |  | $590,950.82    |  |  |  |  | 0.08   | % |
| XVIII.REPOSSESSIONACTIVITY                            |  |  | #Units |  |        | DollarAmount |
| (A) Vehicles RepossessedDuring CollectionPeriod       |  |  |        |  | 41     |              |  |  |  |  | 0.05   | % |  |  | $500,913.62    |  |  |  |  | 0.06   | % |
| (B)Total Accumulated Repossessed Vehicles inInventory |  |  |        |  | 76     |              |  |  |  |  | 0.09   | % |  |  | $891,587.44    |  |  |  |  | 0.11   | % |
|                                                       |

|                                                                                                      |  |  |        |  |  |                     |
|------------------------------------------------------------------------------------------------------|--|--|--------|--|--|---------------------|
| XIX.TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNTBALANCE                                           |  |  |   |  |  |                |
| (A) Ratio ofNet Losses to the Pool Balance as of Each CollectionPeriod                               |  |  |   |
| (i) SecondPreceding CollectionPeriod                                                                 |  |  |   |  |  | 0.36%               |
| (ii)Preceding Collection Period                                                                      |  |  |   |  |  | 0.23%               |
| (iii) Current CollectionPeriod                                                                       |  |  |   |  |  | -0.04%              |
| (iv) ThreeMonth Average (Avg(i,ii,iii))                                                              |  |  |   |  |  | 0.19%               |
| (B)Ratio of Balance of Contracts Delinquent 60 Days or More to theOutstanding Balance ofReceivables. |  |  |   |  |  |                |
| (i) SecondPreceding Collection Period                                                                |  |  |   |  |  | 1.01%               |
| (ii) PrecedingCollection Period                                                                      |  |  |   |  |  | 0.81%               |
| (iii) CurrentCollection Period                                                                       |  |  |   |  |  | 0.69%               |
| (iv) Three MonthAverage (Avg(i,ii,iii))                                                              |  |  |   |  |  | 0.84%               |
| (C)Loss and Delinquency Trigger Indicator                                                            |  |  |   |  |  | Trigger wasnot hit. |
|                                                                                                      |

I herebycertify that the servicing report provided is true andaccurate tothe best of my knowledge.

/s/ PaulC. Honda

Paul C.HondaAssistant Vice President, Assistant Secretary and ComplianceOfficer

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