**Exhibit 99.1**

 

|                                                |   |           |   |
|-----------------------------------------------------|--------|----------------|--------|
| **Capital  One Prime Auto Recevables Trust 2004-2** |   |           |   |
| Aggregate Data  for year ended December 31, 2004    |   |           |   |
|                                                |   |           |   |
| Defaults                                            |   | 288,433.82     |   |
| Total  Collections                                  |   | 220,064,476.44 |   |
| Scheduled and  Prepayment Principal Received        |   | 187,120,077.62 |   |
| Collection of  Interest and Fees                    |   | 25,469,766.03  |   |
| Annual Servicing  Fee Paid                          |   | 2,361,166.73   |   |
| Class A Investor  Charge-Offs                       |   | 0.00           |   |
|                                                |   |           |   |

 

----

 

**CapitalOne Prime Auto Receivables Trust 2004-2**

**AutomobileReceivable - Backed Notes**

** **

ClassA-1 Notes 1.68710% Asset-Backed Notes

ClassA-2 Notes 2.43000% Asset-Backed Notes

ClassA-3 Notes 3.06000% Asset-Backed Notes

ClassA-4 Notes LIBOR + 0.06000% Asset-Backed Notes

ClassB Notes 3.95000% Asset-Backed Notes

 

**PreliminaryServicer’s Certificate**

 
| Monthly Period Beginning:      | 12/01/2004 | ** ** | **Purchases**        | **Units** | **Cut-off Date** | **Closing Date** | **Original Pool Balance** |
|--------------------------------|------------|------------|----------------------|-----------|------------------|------------------|---------------------------|
| Monthly Period Ending:         | 12/31/2004 | ** ** |
| Prev. Distribution/Close Date: | 12/15/2004 | ** ** | **Initial Purchase** | 58,453    | 7/20/2004        | 7/27/2004        | 1,007,697,565.15          |
| Distribution Date:             | 01/18/2005 | ** ** | **Sub Purchase #1**  | 11,714    | 9/6/04           |             | 207,493,535.35            |
| Days in Interest Period:       | 34         | ** ** | **Sub Purchase #2**  | 0         |             |             | 0.00                      |
| Days in Collection Period:     | 31         | ** ** | **Sub Purchase #3**  | 0         |             |             | 0.00                      |
| Months Seasoned:               | 5          |       | **Total**            | 70,167    |             |             | 1,215,191,100.50          |

 
| **I.**     | **MONTHLY PERIOD RECEIVABLES PRINCIPAL BALANCE  CALCULATION:** |
|------------|----------------------------------------------------------------|
|       |                                                           |   |   |   |
| **{1}**    | Beginning of Period Aggregate Principal Balance                | **{1}** |   | 1,060,164,049.72 |
| **{2}**    | Purchase of Subsequent Receivables                             | **{2}** |   | 0.00 |
|       | Monthly Principal Amounts                                      |   |   |   |
| ** ** | **{3}**                                                        | Regular Principal Received | **{3}** | 20,927,881.54 |   |
| ** ** | **{4}**                                                        | Prepaid Principal Received | **{4}** | 15,214,892.53 |   |
| ** ** | **{5}**                                                        | Defaulted Receivables | **{5}** | 72,792.26 |   |
| ** ** | **{6}**                                                        | Principal Portion of Repurchased Receivables | **{6}** | 2,983,486.01 |   |
| ** ** | **{7}**                                                        | Cram Down Losses and other non-cash adjustments | **{7}** | 152.08 |   |
| ** ** | **{8}**                                                        | Total Monthly Principal Amounts | **{8}** |   | 39,199,204.42 |
| **{9}**    | End of Period Aggregate Receivables Balance                    | **{9}** |   | 1,020,964,845.30 |
| **{10}**   | Pool Factor ( {9} / Original Pool Balance)                     | **{10}** |   | 0.8402 |

 
| **II.** | **MONTHLY PERIOD NOTE BALANCE  CALCULATION:** |   |
|---------|-----------------------------------------------|--------|

 
|     |                              |     | **Class A-1**  | **Class A-2**  | **Class A-3**  | **Class A-4**  | **Class B**   | **Total**        |
|----------|-----------------------------------|----------|----------------|----------------|----------------|----------------|---------------|------------------|
| **{11}** | Original Note Balance             | **{11}** | 206,000,000.00 | 353,000,000.00 | 274,000,000.00 | 337,227,000.00 | 29,773,000.00 | 1,200,000,000.00 |
| **{12}** | Beginning  of Period Note Balance | **{12}** | 52,911,999.10  | 353,000,000.00 | 274,000,000.00 | 337,227,000.00 | 29,773,000.00 | 1,046,911,999.10 |
| **{13}** | First  Allocation of Principal    | **{13}** | 8,936,214.37   | 0.00           | 0.00           | 0.00           | 0.00          | 8,936,214.37     |
| **{14}** | Second  Allocation of Principal   | **{14}** | 29,773,000.00  | 0.00           | 0.00           | 0.00           | 0.00          | 29,773,000.00    |
| **{15}** | Optional  Note Redemption Amount  | **{15}** | 0.00           | 0.00           | 0.00           | 0.00           | 0.00          | 0.00             |
| **{16}** | End  of Period Note Balance       | **{16}** | 14,202,784.73  | 353,000,000.00 | 274,000,000.00 | 337,227,000.00 | 29,773,000.00 | 1,008,202,784.73 |
| **{17}** | Note  Pool Factors ( {16} / {11}) | **{17}** | 0.0689         | 1.0000         | 1.0000         | 1.0000         | 1.0000        | 0.8402           |
| **{18}** | Principal  Payment Per $1,000     | **{18}** | 187.91         | 0.00           | 0.00           | 0.00           | 0.00          | 32.26            |

 
| **III.** | **RECONCILIATION OF PRE-FUNDING ACCOUNT:**         |     |   |   |
|----------|----------------------------------------------------|----------|--------|--------|
|     |                                               |     |   |   |
| **{19}** | Beginning of Period Pre-Funding Account Balance    | **{19}** |   | 0.00   |
| **{20}** | Purchase of Subsequent  Receivables                | **{20}** | 0.00   |   |
| **{21}** | Investment Earnings                                | **{21}** | 0.00   |   |
| **{22}** | Investment Earning Transfer  to Collection Account | **{22}** | 0.00   |   |
| **{23}** | Payment of Mandatory  Prepayment Amount            | **{23}** | 0.00   |   |
| **{24}** | End of Period Pre-Funding Account Balance          | **{24}** |   | 0.00   |

 

1

----

 
| **IV.** | **RECONCILIATION  OF COLLECTION ACCOUNT:** |   |   |   |
|---------|--------------------------------------------|--------|--------|--------|

 
| **Available Funds:** |                                                      |                        |               |
|----------------------|-----------------------------------------------------------|-----------------------------|--------------------|
| **{25}**             | Scheduled and Prepayment Principal Cash Received          | **{25}**                    | 36,142,774.07      |   |
| **{26}**             | Liquidation Proceeds Collected During Period              | **{26}**                    | 11,857.25          |   |
| **{27}**             | Receivables Repurchase Amounts                            | **{27}**                    | 2,983,486.01       |   |
| **{28}**             | Interest Collected on Receivables                         | **{28}**                    | 4,570,825.49       |   |
| **{29}**             | Swap Termination Account                                  | **{29}**                    | 0.00               |   |
| **{30}**             | Return of Excess Deposit - Prefunding Account             | **{30}**                    | 0.00               |   |
| **{31}**             | Advances from the Reserve Fund                            | **{31}**                    | 0.00               |   |
| **{32}**             | Release from Reserve Fund Account                         | **{32}**                    | 0.00               |   |
| ** **           | Investment Earnings on Trust Accounts                     | ** **                  |               |   |
| **{33}**             | Collection Account                                        | **{33}**                    | 57,244.44          |   |
| **{34}**             | Transfer from Reserve Fund                                | **{34}**                    | 33,892.60          |   |
| **{35}**             | Transfer from Pre-Funding  Account                        | **{35}**                    | 0.00               |   |
| **{36}**             | Net Swap Receipts                                         | **{36}**                    | 0.00               |   |
| **{37}**             | Optional Note Redemption Prepayment Amount                | **{37}**                    | 0.00               |   |
| **{38}**             | Total Available Funds                                     | **{38}**                    |               | 43,800,079.86 |
|                 |                                                      |                        |               |   |
| **Distributions:**   |                                                      |                        |               |
| **{39}**             | Trustee Fees                                              | **{39}**                    | 0.00               |   |
| ** **           | Servicing Fees                                            | ** **                  |               |   |
| ** **           | **Calculated**                                            | **Carryover**               | **Change  from**   | **Total** | ** ** | ** ** |   |   |
| ** **           | **Fee**                                                   | **Shortfall**               | **Prior  Period**  | **Fee Due** | ** ** | ** ** |   |   |
| **{40}**             | 441,735.02                                                | 0.00                        | 0.00               | 441,735.02 |   | **{40}** | 441,735.02 |   |
| **{41}**             | Net Swap Payments                                         | **{41}**                    | 224,583.82         |   |
|                 | Class A Noteholders’ Accrued  Note Interest          |                        |               |   |
|                 | **Class**                                                 | **Beginning  Note Balance** | **Interest  Rate** | **Days** | **Days  Count  Basis** | **Calculated  Interest** | **Coupon Pmt.  Per $1,000** |   |   |   |   |
| **{42}**             | Class A-1 Note                                            | 52,911,999.10               | 1.68710%           | 34 | Actual/360 | 84,308.51 | 0.41 |   | **{42}** | 84,308.51 |   |
| **{43}**             | Class A-2 Note                                            | 353,000,000.00              | 2.43000%           | 30 | 30/360 | 714,825.00 | 2.03 |   | **{43}** | 714,825.00 |   |
| **{44}**             | Class A-3 Note                                            | 274,000,000.00              | 3.06000%           | 30 | 30/360 | 698,700.00 | 2.55 |   | **{44}** | 698,700.00 |   |
| **{45}**             | Class A-4 Note                                            | 337,227,000.00              | LIBOR + 0.06000%   | 34 | Actual/360 | 784,286.96 | 2.33 |   | **{45}** | 784,286.96 |   |
| ** **           | Class A Noteholders’ Accrued Note Interest           |                        | ** **         |   |   |
| ** **           | ** **                                                | **Carryover**               | **Change  from**   | **Carryover  Shortfall** | ** ** | ** ** |   |   |
| ** **           | **Class**                                                 | **Shortfall**               | **Prior  Period**  | **Per  $1,000** | ** ** | ** ** |   |   |
| **{46}**             | Class A-1 Note                                            | 0.00                        | 0.00               | 0.00 |   | **{46}** | 0.00 |   |
| **{47}**             | Class A-2 Note                                            | 0.00                        | 0.00               | 0.00 |   | **{47}** | 0.00 |   |
| **{48}**             | Class A-3 Note                                            | 0.00                        | 0.00               | 0.00 |   | **{48}** | 0.00 |   |
| **{49}**             | Class A-4 Note                                            | 0.00                        | 0.00               | 0.00 |   | **{49}** | 0.00 |   |
| **{50}**             | First Allocation of Principal                             | **{50}**                    | 8,936,214.37       |   |
| ** **           | Class B Noteholders’ Accrued Note Interest           | ** **                  |               |   |
|                 | **Class**                                                 | **Beginning  Note Balance** | **Interest  Rate** | **Days** | **Days  Count  Basis** | **Calculated  Interest** | **Coupon Pmt.  Per $1,000** |   |   |   |   |
| **{51}**             | Class B Notes                                             | 29,773,000.00               | 3.95000%           | 30 | 30/360 | 98,002.79 | 3.29 |   | **{51}** | 98,002.79 |   |
| ** **           | Class B Noteholders’ Accrued Note Interest           | ** **                  |               |   |
| ** **           | ** **                                                | **Carryover**               | **Change  from**   | **Carryover  Shortfall** | ** ** | ** ** |   |   |
| ** **           | **Class**                                                 | **Shortfall**               | **Prior  Period**  | **Per  $1,000** | ** ** | ** ** |   |   |
| **{52}**             | Class B Notes                                             | 0.00                        | 0.00               | 0.00 |   | **{52}** | 0.00 |   |
| **{53}**             | Second Allocation of Principal                            | **{53}**                    | 29,773,000.00      |   |
| **{54}**             | Deposit to Reserve Account, to Required Level             | **{54}**                    | 42,168.07          |   |
| **{55}**             | Swap Termination Payments                                 | **{55}**                    | 0.00               |   |
| **{56}**             | Other Amounts Due to the Trustees                         | **{56}**                    | 0.00               |   |
| **{57}**             | Optional Note Redemption Prepayment Amount / EOD Prin Pay | **{57}**                    | 0.00               |   |
| **{58}**             | Distribution to the Equity Certificate Holder             | **{58}**                    | 2,002,255.32       |   |
| **{59}**             | Total Distributions                                       | **{59}**                    |               | 43,800,079.86 |
|                      |                                                           |                             |                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

 

2

----

 
| **V.**     | **RECONCILIATION OF RESERVE ACCOUNT:**               |                                |     |          |
|------------|------------------------------------------------------|-------------------------------------|----------|---------------|
|       |                                                 |                                |     |          |
| **{60}**   | **Beginning of Period Reserve Account balance**      | **{60}**                            |     | 21,908,576.10 |
| **{61}**   | Deposits to Reserve Account - Subsequent Fundings    | **{61}**                            |     | 0.00          |
| **{62}**   | **Subtotal**                                         | **{62}**                            |     | 21,908,576.10 |
| ** ** | **{63}**                                             | Reserve Account Requirement         | **{63}** | 21,950,744.17 |   |
| ** ** | **{64}**                                             | Reserve Acount Shortfall / (Excess) | **{64}** | 42,168.07     |   |
| **{65}**   | Deposit to Reserve Fund, to Required Level           | **{65}**                            |     | 42,168.07     |
| **{66}**   | Release from Reserve Account                         | **{66}**                            |     | 0.00          |
| **{67}**   | **End of Period Reserve Account Balance**            | **{67}**                            |     | 21,950,744.17 |
| **{68}**   | Change in Reserve Account Balance from Prior  Period | **{68}**                            |     | 42,168.07     |
| **{69}**   | EOP Shortfall                                        | **{69}**                            |     | 0.00          |

IN WITNESS WHEREOF, theundersigned has duly executed and delivered this Monthly Servicer’s Report asdated below.

 

OFFICERS’ CERTIFICATE

 

The undersigned herebycertifies that (i) he or she is an Authorized Officer of Capital One AutoFinance, Inc. (the “Servicer”), and (ii) Exhibit A hereto complies with therequirements of, and is being delivered pursuant to, the Sale and Servicing Agreementdated as of July 27, 2004 by and among Capital One Auto Finance, Inc., asServicer, Capital One Prime Auto Receivables Trust 2004-2, as Issuer, CapitalOne Auto Receivables, LLC, as Seller, and JPMorgan Chase Bank, as Indenture Trustee.

 

CAPITAL ONE AUTO FINANCE,INC.

Capital One Auto Finance,Inc., as Servicer

 
| By:    | /s/ Rena Friske          |
|--------|--------------------------|
| Name:  | Rena Friske              |
| Title: | Assistant Vice President |
| Date:  | 01/12/2005               |

 

3

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**Exhibit A**

 

**CapitalOne Prime Auto Receivables Trust 2004-2**

**AutomobileReceivable - Backed Notes**

** **

ClassA-1 Notes 1.68710% Asset-Backed Notes

ClassA-2 Notes 2.43000% Asset-Backed Notes

ClassA-3 Notes 3.06000% Asset-Backed Notes

ClassA-4 Notes LIBOR + 0.06000% Asset-Backed Notes

ClassB Notes 3.95000% Asset-Backed Notes

 

**Servicer’sCertificate**

** **

**MonthlyPeriod Ending 12/31/2004**

**DistributionDate 01/18/2005**

 
| **I.** | **MONTHLY PERIOD NOTE BALANCE  CALCULATION:** |
|--------|-----------------------------------------------|

 
|    |                             |    | **Class A-1**  | **Class  A-2** | **Class  A-3** | **Class  A-4** | **Class B**   | **Total**        |
|---------|----------------------------------|---------|----------------|----------------|----------------|----------------|---------------|------------------|
| **{1}** | Original Note Balance            | **{1}** | 206,000,000.00 | 353,000,000.00 | 274,000,000.00 | 337,227,000.00 | 29,773,000.00 | 1,200,000,000.00 |
| **{2}** | Beginning of Period Note Balance | **{2}** | 52,911,999.10  | 353,000,000.00 | 274,000,000.00 | 337,227,000.00 | 29,773,000.00 | 1,046,911,999.10 |
| **{3}** | End of Period Note Balance       | **{3}** | 14,202,784.73  | 353,000,000.00 | 274,000,000.00 | 337,227,000.00 | 29,773,000.00 | 1,008,202,784.73 |
| **{4}** | Note Pool Factors ( {3} / {1})   | **{4}** | 0.0689         | 0.8402         | 1.0000         | 1.0000         | 1.0000        | 0.8402           |

 
| **II.**  | **MONTHLY PERIOD AND CUMULATIVE NUMBER  OF RECEIVABLES CALCULATION:** |
|----------|-----------------------------------------------------------------------|
|     |                                                                  |   |   |   |
|     |                                                                  |   | **Cumulative** | **Period** |
| **{5}**  | Beginning Number of Receivables                                       | **{5}** | 58,453 | 65,976 |
| **{6}**  | Number of Subsequent Receivables Purchased                            | **{6}** | 11,714 | 0 |
| **{7}**  | Number of Receivables Defaulted During Period                         | **{7}** | 18 | 7 |
| **{8}**  | Number of Receivables Becoming Purchased Receivables During Period    | **{8}** | 390 | 192 |
| **{9}**  | Number of Receivables Paid Off During Period                          | **{9}** | 5,027 | 1,045 |
| **{10}** | Ending Number of Receivables                                          | **{10}** | 64,732 | 64,732 |

 
| **III.** | **STATISTICAL DATA (CURRENT AND  HISTORICAL)**     |
|----------|----------------------------------------------------|
|     |                                               |   |   |   |   |
|     |                                               |   | **Original** | **Prev.  Month** | **Current** |
| **{11}** | Weighted Average APR of the Receivables            | **{11}** | 5.19% | 5.25% | 5.25% |
| **{12}** | Weighted Average Remaining Term of the Receivables | **{12}** | 54.75 | 51.54 | 50.66 |
| **{13}** | Weighted Average Original Term of Receivables      | **{13}** | 56.82 | 56.82 | 56.82 |
| **{14}** | Average Receivable Balance                         | **{14}** | 17,239.00 | 16,068.93 | 15,772.18 |

 
| **IV.**  | **DELINQUENCY**                                                                       |     |      |        |           |
|----------|---------------------------------------------------------------------------------------|----------|-----------|-------------|----------------|
|     |                                                                                  |     |      |        |           |
|     | Receivables with Scheduled Payment Delinquent                                         |     | **Units** | **Dollars** | **Percentage** |
| **{15}** | 31-60 days                                                                            | **{15}** | 69        | 1,104,505   | 0.11%          |
| **{16}** | 61-90 days                                                                            | **{16}** | 28        | 438,561     | 0.04%          |
| **{17}** | 91-120 days                                                                           | **{17}** | 20        | 366,238     | 0.04%          |
| **{18}** | Receivables with Scheduled Payment Delinquent More Than 60 Days at the  End of Period | **{18}** | 48        | 804,798     | 0.08%          |

 

4

----

 
| **V.**                                 | **PERFORMANCE TESTS:**                                                                                                                         |       |             |   |
|----------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------|------------|------------------|--------|
|                                   |                                                                                                                                           |       |             |
| **Delinquency Ratio: **           |                                                                                                                                           |       |             |
|                                   |                                                                                                                                           |       |             |
| **{19}**                               | Receivables with Scheduled Payment Delinquent More Than 61 Days at the  End of Period ( line {18})                                             | **{19}**   | 804,798.46       |   |
| **{20}**                               | End of Period Current Principal Balance                                                                                                        | **{20}**   | 1,020,964,845.30 |   |
| **{21}**                               | Delinquency Ratio {16} + {17} divided by {20}                                                                                                  | **{21}**   |             | 0.08%  |
| **{22}**                               | Previous Monthly Period Delinquency Ratio                                                                                                      | **{22}**   |             | 0.05%  |
| **{23}**                               | Second Previous Monthly Period Delinquency Ratio                                                                                               | **{23}**   |             | 0.03%  |
| **{24}**                               | 3 Month Average Delinquency Ratio (({21} + {22} +{23}) / 3)                                                                                    | **{24}**   |             | 0.05%  |
|                                   |                                                                                                                                           |       |             |   |
|                                   | Compliance with Reserve  Account Increase Condition Trigger? Three Month Average Delinquency Ratio for  Period 5 < 2.25%?    | **Yes**    |             |
|                                   |                                                                                                                                           | ** ** |             |
|                                   | Is there a Reserve Account  Increase Condition?                                                                                 | **No**     |             |
|                                   |                                                                                                                                           |       |             |   |
| **Current Net Charge-off Rate: ** |                                                                                                                                           |       |             |
| **{25}**                               | Receivables becoming Defaulted Receivables during period                                                                                       | **{25}**   | 72,792.26        |   |
| **{26}**                               | Cram Down Losses occurring during period                                                                                                       | **{26}**   | 152.08           |   |
| **{27}**                               | Liquidation Proceeds collected during period                                                                                                   | **{27}**   | 11,857.25        |   |
| **{28}**                               | Net Losses during period ({25} + {26} - {27})                                                                                                  | **{28}**   | 61,087.09        |   |
| **{29}**                               | Monthly Annualized Net Charge-Off Ratio  (({28} / Monthly Period Average Aggregate Receivable Balance) * 12)                                   | **{29}**   |             | 0.07%  |
| **{30}**                               | Previous Monthly Period Charge-Off Ratio                                                                                                       | **{30}**   |             | 0.18%  |
| **{31}**                               | Second previous Monthly Period Charge-Off Ratio                                                                                                | **{31}**   |             | 0.05%  |
| **{32}**                               | 3 Month Average Net Charge-Off Rate (({29}+{30}+{31})/3)                                                                                       | **{32}**   |             | 0.10%  |
|                                   |                                                                                                                                           |       |             |   |
|                                   | Compliance with Reserve  Account Increase Condition Trigger? Three Month Average Delinquency Ratio for  Period 5 < 2.25%?    | **Yes**    |             |
|                                   |                                                                                                                                           |       |             |
|                                   | Is there a Reserve Account  Increase Condition?                                                                                 | **No**     |             |

 

5

----