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                                                                     Exhibit 4.4

[MBIA Logo]

                           MBIA INSURANCE CORPORATION

                      FINANCIAL GUARANTEE INSURANCE POLICY
                                NOVEMBER 27, 2002

                                                         POLICY NUMBER: 39714(1)

RE:                                HOUSEHOLD AUTOMOTIVE TRUST 2002-3 (THE
                                   "TRUST") $285,000,000 1.41375% ASSET BACKED
                                   NOTES, CLASS A-1 ("CLASS A-1 NOTES");
                                   $125,000,000 1.93% ASSET BACKED NOTES, CLASS
                                   A-2-A ("CLASS A-2-A NOTES"); $268,000,000
                                   LIBOR + 0.12% ASSET BACKED NOTES, CLASS A-2-B
                                   ("CLASS A-2-B NOTES"); $125,000,000 2.75%
                                   ASSET BACKED NOTES, CLASS A-3-A ("CLASS A-3-A
                                   NOTES"); $234,000,000 LIBOR + 0.19% ASSET
                                   BACKED NOTES, CLASS A-3-B ("CLASS A-3-B
                                   NOTES"); $238,000,000 3.44% ASSET BACKED
                                   NOTES, CLASS A-4-A ("CLASS A-4-A NOTES") AND
                                   $125,000,000 LIBOR + 0.34% ASSET BACKED
                                   NOTES, CLASS A-4-B ("CLASS A-4-B NOTES" AND
                                   TOGETHER WITH THE CLASS A-1 NOTES, CLASS
                                   A-2-A NOTES, CLASS A-2-B NOTES, CLASS A-3-A
                                   NOTES, CLASS A-3-B NOTES AND CLASS A-4-A
                                   NOTES, THE "NOTES").

INSURED OBLIGATION:                OBLIGATION TO PAY SERVICING AND TRUSTEE FEES,
                                   TIMELY INTEREST, ANY INSURED PRINCIPAL
                                   BALANCE SHORTFALLS (AS DEFINED IN THE SERIES
                                   SUPPLEMENT) AND ULTIMATE PRINCIPAL ON THE
                                   NOTES.

BENEFICIARY:                       U.S. BANK NATIONAL ASSOCIATION, AS INDENTURE
                                   TRUSTEE (THE "INDENTURE TRUSTEE") UNDER THE
                                   INDENTURE DATED AS OF NOVEMBER 18, 2002 (THE
                                   "INDENTURE") BETWEEN THE TRUST AND THE
                                   INDENTURE TRUSTEE (TOGETHER WITH ANY
                                   SUCCESSOR INDENTURE TRUSTEE DULY APPOINTED
                                   AND QUALIFIED UNDER THE INDENTURE) FOR THE
                                   BENEFIT OF THE OWNERS (AS DEFINED BELOW).

MBIA INSURANCE CORPORATION ("MBIA"), for consideration received, hereby
unconditionally and irrevocably guarantees to the Beneficiary, subject only
to the terms of this Financial Guarantee Insurance Policy (the "POLICY"),
payment of the Insured Obligation. MBIA agrees to pay to the Indenture
Trustee, in respect of each Distribution Date, an amount equal to the amount
by which (A) the sum of the following amounts, each as of or with respect to
such Distribution Date, (i) net payments due to the swap counterparty under
the Swap Agreements, (ii) the Servicing Fee (if HFC is no longer acting as
the Master Servicer), including any unpaid Servicing Fees (if HFC is no
longer acting as the Master Servicer), (iii) any accrued and unpaid fees and
any unreimbursed costs and expenses of the Indenture trustee and the Owner
Trustee, in each case to the extent such fees have not been paid by the
Master Servicer, (iv) the Class A Interest Distributable Amount, (v) the
Insured Principal Balance Shortfall, if any, if such Distribution Date is not
the Scheduled Maturity Date with respect to any Class of Notes, and (vi) if
such Distribution Date is a Scheduled Maturity Date with respect to any Class
of Notes, the outstanding principal amount of such Class of Notes on such
Distribution Date, exceeds (B) the

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sum of (i) the amount of Available Funds available to make such payments with
respect ion Date and (ii) the amount on deposit in the Reserve Account as of
such Distribution Date (the "DEFICIENCY AMOUNT"). MBIA also agrees to pay an
amount equal to any Avoided Payment (as defined below). This Policy does not
cover shortfalls, if any, attributable to the liability of the Trust for
withholding taxes, if any (including interest and penalties in respect of such
liability). Payments hereunder shall be made only at the time set forth in this
Policy. This Policy will not guarantee payment of any Class A Additional
Principal Distributable Amount or amounts that become due on an accelerated
basis as a result of (a) a default by the Trust, (b) the occurrence of an Event
of Default under the Indenture, or (c) any other cause. MBIA may elect, in its
sole discretion, to pay in whole or in part such principal due upon
acceleration.

     Capitalized terms used herein and not otherwise defined shall have the
meanings assigned to them in the Master Sale and Servicing Agreement dated as of
November 18, 2002 amount Household Auto Receivables Corporation, as seller (the
"SELLER"), Household Finance Corporation, as Master Servicer (the "MASTER
SERVICER"), the Indenture Trustee and the Trust (the "MASTER SALE AND SERVICING
AGREEMENT").

     As used herein the term "OWNER" means each Noteholder who on the applicable
Distribution Date is entitled under the terms of the related Note to receive
payments thereunder.

     Payment of amounts hereunder shall be made in immediately available funds
no later than the later of (a) 12:00 noon, New York City time, on the related
Distribution Date and (b) 12:00 noon, New York City time, on the second Business
Day following presentation to State Street Bank and Trust Company, N.A., as
Fiscal Agent for MBIA or any successor fiscal agent appointed by MBIA (the
"FISCAL AGENT") (as hereinafter provided) and MBIA of a notice for payment in
the form of EXHIBIT A hereto ("NOTICE FOR PAYMENT"), appropriately completed and
executed by the Indenture Trustee. A Notice for Payment under this Policy may be
presented to the Fiscal Agent and MBIA on any Business Day following the
Determination Date in respect of which the Notice for Payment is being
presented, by (a) delivery of the original Notice for Payment to the Fiscal
Agent and MBIA at its respective address set forth below, or (b) facsimile
transmission of the original Notice for Payment to the Fiscal Agent and MBIA at
its respective facsimile number set forth below. If presentation is made by
facsimile transmission, the Indenture Trustee shall (i) simultaneously confirm
transmission by telephone to the Fiscal Agent and MBIA at its respective
telephone number set forth below, and (ii) as soon as reasonably practicable,
deliver the original Notice for Payment to the Fiscal Agent and MBIA at its
respective address set forth below. Any Notice for Payment received by the
Fiscal Agent or MBIA after 12:00 noon, New York City time, on a Business Day, or
on any day that is not a Business Day, will be deemed to be received by the
Fiscal Agent and MBIA on the next succeeding Business Day.

     Subject to the foregoing, if the payment of any amount previously
distributed to an Owner in respect of the Notes that is recoverable and sought
to be recovered as a voidable preference by a trustee in bankruptcy with respect
to the Trust, the Seller or the Originator pursuant to the United States
Bankruptcy Code (11 U.S.C.), as amended from time to time, in accordance with a
nonappealable order of a court having competent jurisdiction is voided ("AVOIDED
PAYMENT"), MBIA will make such Avoided Payment on behalf of the Owner to the
receiver, conservator, debtor-in-possession or trustee in bankruptcy named in
the Final Order (as defined below) and not to any Owner directly, unless such
Owner has previously paid such Avoided Payment to the receiver, conservator,
debtor-in-possession or trustee in bankruptcy, in which case MBIA will

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make such Avoided Payment to such Owner upon receipt by the Fiscal Agent and
MBIA from the Indenture Trustee on behalf of such Owner of (i) a certified copy
of a final, nonappealable order of a court having competent jurisdiction to the
effect that the Owner is required to return any such payment or portion thereof
prior to the Termination Date of this Policy because such payment was voided
under applicable law (the "FINAL ORDER") together with an opinion of counsel
satisfactory to MBIA that such Final Order is final and not subject to appeal,
(ii) an assignment, substantially in the form attached hereto as EXHIBIT B,
properly completed and executed by such Owner irrevocably assigning to MBIA all
rights and claims of such Owner relating to or arising under such Avoided
Payment, (iii) a Notice for Payment in the form of EXHIBIT A hereto
appropriately completed and executed by the Indenture Trustee and (iv)
appropriate instruments to effect the appointment of MBIA as agent for such
Owner in any legal proceeding relating to such Avoided Payment.

     MBIA shall make payments due in respect of Avoided Payments no later than
12:00 noon, New York City time on the Business Date following the Fiscal Agent's
and MBIA's receipt of the documents required under clauses (i) through (iv) of
the preceding paragraph. Any such documents received by the Fiscal Agent or MBIA
after 12:00 noon, New York City time, on any Business Day or on any day that is
not a Business Day shall be deemed to have been received by the Fiscal Agent and
MBIA prior to 12:00 noon on the next succeeding Business Day. All payments made
by MBIA hereunder on account of any Avoided Payment shall be made to the
receiver or the trustee in bankruptcy named in the Final Order on behalf of
Owner and not to any owner directly unless such Owner has returned such Avoided
Payment to such receiver or trustee in bankruptcy, in which case such payment
will be disbursed to such Owner.

     If any Notice for Payment received by the Fiscal Agent and MBIA is not in
proper form or is otherwise insufficient for the purpose of making a claim
hereunder, it shall be deemed no to have been received by the Fiscal Agent and
MBIA, and the Fiscal Agent or MBIA shall promptly so advise the Indenture
Trustee, and the Indenture Trustee may submit an amended Notice for Payment.

     Payments due hereunder unless otherwise stated herein will be disbursed by
the Fiscal Agent to the Indenture Trustee on behalf of the Owners by wire
transfer of immediately available funds in the amount of such payment, less, in
respect of Avoided Payments, any amounts held by the Indenture Trustee for the
payment of such Avoided Payment and legally available therefor.

     The Fiscal Agent is agent of MBIA only, and the Fiscal Agent shall in no
event be liable to Owners for any acts of the Fiscal Agent or any failure of
MBIA to deposit or cause to be deposited sufficient funds to make payments due
under this Policy.

     MBIA shall be subrogated to the rights of each Owner to receive payments
under the Notes to the extent of any payment by MBIA hereunder.

     MBIA hereby waives and agrees not to assert any and all rights to require
the Indenture Trustee to make demand on or to proceed against any person, party
or security prior to the Indenture Trustee demanding payment under this Policy.

     No defenses, set-offs and counterclaims of any kind available to MBIA so as
to deny payment of any amount due in respect of this Policy will be valid and
MBIA hereby waives and agrees not to assert any and all such defenses
(including, without limitation, fraud in the inducement or fact, or any other
circumstances that would have the effect of discharging a surety

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at law or in equity), set-offs and counterclaims, including, without limitation,
any such rights acquired by subrogation, assignment or otherwise. Any rights of
subrogation acquired by MBIA as a result of any payment made under this Policy
shall, in all respects, be subordinate and junior in right of payment to the
prior indefeasible payment in full of all amounts due to the Indenture Trustee
on account of payments due under the Notes.

     MBIA's obligations under this Policy shall be discharged to the extent
funds to pay the Insured Obligation are deposited by the Master Servicer into
the Collection Account in accordance with the Master Sale and Servicing
Agreement or disbursed by MBIA as provided in this Policy, whether or not such
funds are properly applied by the Indenture Trustee.

     This Policy is neither transferable nor assignable, in whole or in part,
except to a successor to the Indenture Trustee pursuant to the Indenture. All
notices, presentations, transmissions, deliveries and communications made by the
Indenture Trustee to MBIA with respect to this Policy shall specifically refer
to the number of this Policy and shall be made to MBIA at:

                MBIA Insurance Corporation
                113 King Street
                Armonk, New York  10504
                Attention: Insured Portfolio Management, Structured Finance
                Telephone:  (914) 273-4545
                Facsimile:  (914) 765-3810

or such other address, telephone number or facsimile number as MBIA may
designate to the Indenture Trustee in writing from time to time. Each such
notice, presentation, transmission, delivery and communication shall be
effective only upon actual receipt by MBIA.

     All notices, presentations, transmissions, deliveries and communications
made by the Indenture Trustee to the Fiscal Agent of MBIA shall specifically
refer to the number of this Policy and shall be made at the address listed below
for the Fiscal Agent of MBIA or such other address, telephone number or
facsimile number as MBIA or the Fiscal Agent shall specify in writing to the
Indenture Trustee.

     The notice address of the Fiscal Agent is 61 Broadway, 15th Floor, New
York, New York 10006 Attention: Municipal Registrar and Paying Agency,
Telephone: 212-612-3458, Facsimile: 212-612-3203, or such other address as
the Fiscal Agent shall specify to the Indenture Trustee in writing.

     The obligations of MBIA under this Policy are irrevocable, primary,
absolute and unconditional (except as expressly provided herein) and neither
the failure of the Trust, the Indenture Trustee, the Owner Trustee, the
Originator, HACC, the Subservicer, the Seller, the Master Servicer or any
other person to perform any covenant or obligation in favor of MBIA (or
otherwise), nor the failure or omission to make a demand permitted hereunder,
not the commencement of any bankruptcy, debtor or other insolvency proceeding
by or against the Trust, the Indenture Trustee, the Originator, HACC, the
Subservicer, the Owner Trustee, the Seller, the Master Servicer or any other
person shall in any way affect or limit MBIA's obligations under this Policy.
If a successful action or proceeding to enforce this Policy is brought by the
Indenture Trustee, the Indenture Trustee shall be entitled to recover from
MBIA costs and expenses reasonably incurred, including without limitation
reasonable fees and expenses of counsel.

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     This Policy and the obligations of MBIA hereunder shall terminate on the
date (the "TERMINATION DATE")that is one year and one day following the earlier
of (a) the Final Scheduled Distribution Date and (b) the date on which all
amounts required to be paid to the Owners have been paid in full, PROVIDED,
THAT, if any Insolvency Proceeding is existing by or against the Originator, the
Trust, the Seller or the Bank during such one year and one day period, then this
Policy and MBIA's obligations hereunder shall terminate on the date of the
conclusion or dismissal of such Insolvency Proceeding without continuing
jurisdiction by the court in such Insolvency Proceeding, PROVIDED, FURTHER that,
and notwithstanding anything herein to the contrary, this Policy shall not
terminate prior to the date on which MBIA has made all payments required to be
made under the terms of this Policy in respect of Avoided Payments.

     All payments made hereunder by MBIA shall be made with MBIA's own funds.
The payment by MBIA to the Indenture Trustee of any amount guaranteed by the
first paragraph of this Policy, and the payment by MBIA of any Avoided Payment
shall constitute "PAYMENTS" for all purposes under this Policy. In no event
shall any payment be made under this Policy on account of (a) the failure of the
Indenture Trustee to deliver the proceeds of any such payment to any Owner or
(b) the failure of any such Owner to claim any such proceeds from the Indenture
Trustee.

     THIS POLICY IS NOT COVERED BY THE PROPERTY/CASUALTY INSURANCE FUND
SPECIFIED IN ARTICLE SEVENTY-SIX OF THE NEW YORK STATE INSURANCE LAW.

     This Policy sets forth in full the undertaking of MBIA, and shall not,
except with the prior written consent of the Indenture Trustee or otherwise
in accordance with the express terms hereof, be modified, altered or affected
by any other agreement or instrument, including any modification or amendment
thereto and may not be canceled or revoked by MBIA prior to the Termination
Date. The Premium on this Policy is not refundable for any reason.

     This Policy shall be returned to MBIA by the Indenture Trustee on the
Termination Date.

     THIS POLICY SHALL BE CONSTRUED, AND THE OBLIGATIONS, RIGHTS AND REMEDIES
OF THE PARTIES HEREUNDER SHALL BE DETERMINED, IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES OR THE
APPLICATION OF THE LAWS OF ANY OTHER JURISDICTION.

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     IN WITNESS WHEREOF, MBIA has caused this Policy to be executed on the date
first written above.

                                          MBIA INSURANCE CORPORATION

                                          By: /s/ Gary C. Dunton
                                              ----------------------
                                          Name: Gary C. Dunton
                                          Title: President


                                          By: /s/ Amy R. Gonch
                                              ----------------------
                                          Name: Amy R. Gonch
                                          Title: Assistant Secretary

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       EXHIBIT A TO FINANCIAL GUARANTEE INSURANCE POLICY, NUMBER 39714(1)

     MBIA Insurance Corporation
     113 King Street
     Armonk, NY  10504
     Attention:  Insured Portfolio Management,
                        Structured Finance

                               NOTICE FOR PAYMENT
           UNDER FINANCIAL GUARANTEE INSURANCE POLICY NUMBER 39714(1)

U.S. Bank National Association, as indenture trustee (the "INDENTURE TRUSTEE"),
hereby certifies to MBIA Insurance Corporation ("MBIA") with reference to that
certain Financial Guarantee Insurance Policy, Number 39714(1), dated November
27, 2002 (the "POLICY"), issued by MBIA in favor of the Indenture Trustee under
the Indenture, dated as of November 18, 2002 between Household Automotive Trust
2002-3 and the Indenture Trustee as follows:

       1. The Indenture Trustee is the Indenture Trustee under the Indenture and
          the Beneficiary under the Policy.

       2. The Indenture Trustee is entitled to make a demand under the Policy
          pursuant to Section 3.03(c) of the Series Supplement [in connection
          with an Avoided Payment as defined in the Policy].

          [For a Notice for Payment in respect of a Distribution Date use the
          following paragraphs 3, 4 and 5.]

       3. This notice relates to the [insert date] Distribution Date. The amount
          claimed under the Policy, as specified to the Indenture Trustee by the
          Master Servicer, for such Distribution Date is $________. The amount
          demanded by this notice does not exceed amounts permitted to be drawn
          under the Policy.

       4. The Indenture Trustee demands payment of $________ which is an amount
          equal to the Deficiency Amount for such Distribution Date.

       5. The amount demanded is to be paid in immediately available funds to
          the Collection Account at ___________, account number ____________.

          [For a Notice for Payment in respect of an Avoided Payment use the
          following paragraphs 3 and 4.]

       3. The Indenture Trustee hereby represents and warrants, based upon
          information available to it, that (i) the amount entitled to be drawn
          under the Policy on the date hereof in respect of Avoided Payments is
          the amount paid or to be paid simultaneously with such draw on the
          Policy, by all Noteholders [$      ] (the "AVOIDED PAYMENT AMOUNT"),
          (ii) each Noteholder with respect to which the drawing is being made
          under the Policy has paid or simultaneously with such draw on the
          Policy will pay such Avoided Payment, and (iii) the documents required
          by the Policy to be delivered in connection with such Avoided Payment
          and Avoided Payment Amount have previously been presented to MBIA or
          are attached hereto.

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       4. The amount demanded is to be paid in immediately available funds by
          wire transfer to [          ].

          [For a Notice for Payment relating to both an Avoided Payment and a
          Distribution Date, use the following paragraphs 3, 4, 5 and 6.]

       3. This notice relates to the [insert date] Distribution Date. The amount
          claimed under the Policy, as specified to the Indenture Trustee by the
          Master Servicer, for such Distribution Date is $________. The amount
          demanded by this notice does not exceed amounts permitted to be drawn
          under the Policy.

       4. The Indenture Trustee demands payment of $________ which is an amount
          equal to the Deficiency Amount for such Distribution Date.

       5. The Indenture Trustee hereby represents and warrants, based upon
          information available to it, that (i) the amount entitled to be drawn
          under the Policy on the date hereof in respect of Avoided Payments is
          the amount paid or to be paid simultaneously with such draw on the
          Policy, by all Noteholders [$        ] (the "AVOIDED PAYMENT
          AMOUNT"), and (ii) the documents required by the Policy to be
          delivered in connection with such Avoided Payment and Avoided Payment
          Amount have previously been presented to MBIA or are attached hereto.

       6. The amount demanded is to be paid in immediately available funds by
          wire transfer to [         ].

     Capitalized term used herein and not otherwise defined herein shall have
the meaning assigned to them in the Policy.

     ANY PERSON WHO KNOWINGLY AND WITH INTENT TO DEFRAUD ANY INSURANCE COMPANY
OR OTHER PERSON FILES AN APPLICATION FOR INSURANCE OR STATEMENT OF CLAIM
CONTAINING ANY MATERIALLY FALSE INFORMATION, OR CONCEALS FOR THE PURPOSE OF
MISLEADING INFORMATION CONCERNING ANY FACT MATERIAL THEREOF, COMMITS A
FRAUDULENT INSURANCE ACT, WHICH IS A CRIME, AND SHALL BE SUBJECT TO A CIVIL
PENALTY NOT TO EXCEED FIVE THOUSAND DOLLARS AND THE STATED VALUE OF THE CLAIM
FOR EACH SUCH VIOLATION.

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     IN WITNESS WHEREOF, this notice has been executed this ___ day of ________,
___.

                                            U.S. Bank National Association

                                            By:
                                               -------------------------------
                                                     Authorized Officer

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       EXHIBIT B TO FINANCIAL GUARANTEE INSURANCE POLICY, NUMBER 39714(1)


                               FORM OF ASSIGNMENT

     Reference is made to the Financial Guarantee Insurance Policy No.
39714(1), dated November 27 2002, (the "POLICY") issued by MBIA Insurance
Corporation ("MBIA") relating to the $1,400,000,000 Household Automotive
Trust 2002-3 1.41375% Asset Backed Notes, Class A-1, 1.93% Asset Backed
Notes, Class A-2-A, LIBOR + 0.12% Asset Backed Notes, Class A-2-B, 2.75%
Asset Backed Notes, Class A-3-A, LIBOR + 0.19% Asset Backed Notes, Class
A-3-B, 3.44% Asset Backed Notes, Class A-4-A, and LIBOR + 0.34% Asset Backed
Notes, Class A-4-B. Unless otherwise defined herein, capitalized terms used
in this Assignment shall have the meanings assigned thereto in the Policy as
incorporated by reference therein. In connection with the Avoided Payment of
[$     ] paid by the undersigned (the "HOLDER") on [     ] and the payment by
MBIA in respect of such Avoided Payment pursuant to the Policy, the Holder
hereby irrevocably and unconditionally, without recourse, representation or
warranty (except as provided below), sells, assigns, transfers, conveys and
delivers all of such Holder's rights, title and interest in and to any rights
or claims, whether accrued, contingent or otherwise, which the Holder now has
or may hereafter acquire, against any person relating to, arising out of or
in connection with such Avoided Payment. The Holder represents and warrants
that such claims and rights are free and clear of any lien or encumbrance
created or incurred by such Holder.

                                                     --------------------------
                                                     Holder(1)


----------
(1)  In the event that the terms of this form of assignment are reasonably
     determined to be insufficient solely as a result of a change of law or
     applicable rules after the date of the Policy to fully vest all of the
     Holder's right, title and interest in such rights and claims, the Holder
     and MBIA shall agree on such other form as is reasonably necessary to
     effect such assignment, which assignment shall be without recourse,
     representation or warranty except as provided above.