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                                                Exhibit 13(a)
                                                  Page 1 of 3


          NAVISTAR FINANCIAL DEALER NOTE MASTER TRUST
     DEALER NOTE ASSET BACKED CERTIFICATES, SERIES 1995-1
            _______________________________________
                               
    ANNUAL SUMMARY OF SERVICER AND SETTLEMENT CERTIFICATES
                               
     DISTRIBUTION AND PERFORMANCE ANNUAL AGGREGATE REPORT
   For the period November 1, 1995 through October 31, 1996


     Under  the  Series  1995-1  Supplement dated as of June 8,
1995  (the "Supplement")  by  and   among   Navistar  Financial
Corporation ("NFC") Navistar Financial  Securities  Corporation
("NFSC") and The Bank of  New  York,  as  trustee  (the "Master
Trust Trustee") to the Pooling and Servicing Agreement dated as
of June 8, 1995 (the "Agreement")  by  and among NFC, NFSC, the
Master Trust Trustee and The  Chase Manhattan Bank (survivor in
the merger between The Chase  Manhattan  Bank and Chemical Bank
which was the survivor in the merger  between Chemical Bank and
Manufacturers Hanover Trust Company), as  1990  Trust  Trustee,
the   Master  Trust  Trustee  is  required  to  prepare certain
information   each   month   regarding  current   distributions 
to  certain   accounts   and   payment  to   Series      1995-1
Certificateholders  as  well  as the performance of the  Master
Trust during the previous month.  An annual aggregation of such
monthly reports for the period November 1, 1995 through October
31, 1996  with  respect to distributions and performance of the
Trust  is  set  forth  below.  Certain  of  the  information is
presented on the basis  of  an  original  principal  amount  of
$1,000 per Investor  Certificate.  Certain other information is
presented based  on  the aggregate amounts for the Master Trust
as a whole.  Capitalized  terms  used but not otherwise defined
herein shall have  the  meanings  assigned to such terms in the
Agreement and the Supplement.

1.   NFC is Servicer under the Agreement.

2.   All Certificates filed during the period have been signed
     by a Servicing Officer.

3.   Eligible Investments in the Excess Funding Account:

     a.  The aggregate amount of funds invested in Eligible
         Investments                                                  $0.00

     b.  Description of each Eligible Investment:            Not Applicable

     c.  The rate of interest applicable to each such
         Eligible Investment                                 Not Applicable

     d.  The rating of each such Eligible Investment         Not Applicable
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                                                Exhibit 13(a)
                                                  Page 2 of 3
                                                             


4.   The total amount to be distributed on the Series 1995-1
     Certificate on the Distribution Dates:

     a.  The total aggregate amount                          $11,649,072.78

     b.  Stated on the basis of $1,000 original
         principal amount                                         $58.24536

5.   The total amount, if any to be distributed on 
     the Series 1995-1 Certificate on the Distribution
     Dates allocable to the Invested Amount.                          $0.00

6.   The total amount, if any, to be distributed on the
     Series 1995-1 Certificates on the Distribution Dates
     allocable to interest on the Series 1995-1
     Certificates.                                           $11,649,072.78

7.   The Invested amount as of the Distribution Date.       $200,000,000.00
     (After giving effect to all distributions that
     will occur on the Distribution Date)

8.   Eligible Investments in the Series Principal Account:

     a.  The aggregate amount of funds invested in Eligible
         Investments                                                  $0.00

     b.  Description of each Eligible Investment:            Not Applicable

     c.  The rate of interest applicable to each such
         Eligible Investment                                 Not Applicable

     d.  The rating of each such Eligible Investment         Not Applicable

9.   Eligible Investments in the Negative Carry Reserve Fund:

     a.  The aggregate amount of funds invested in Eligible
         Investments                                                  $0.00

     b.  Description of each Eligible Investment:            Not Applicable

     c.  The rate of interest applicable to each such 
         Eligible Investment                                 Not Applicable

     d.  The rating of each such Eligible Investment         Not Applicable
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                                                Exhibit 13(a)
                                                  Page 3 of 3


10.  Eligible Investments in the Liquidity Reserve Account:

     a.  The aggregate amount of funds invested in Eligible
         Investments                                                  $0.00

     b.  Description of each Eligible Investment:            Not Applicable

     c.  The rate of interest applicable to each such 
         Eligible Investment                                 Not Applicable

     d.  The rating of each such Eligible Investment         Not Applicable

11.  The aggregate amount of Dealer Notes issued to finance
     OEM Vehicles, as of the end of the period.               $7,466,133.36

12.  The Dealers with the five largest aggregate
     outstanding principal amounts of Dealer Notes
     in the 1990 Trust at the end of the period:

     i)    Longhorn Int'l Eq. Inc.
     ii)   Prairie Int'l Eq. Inc.
     iii)  Lee-Smith Inc.
     iv)   Nalley Motor Trucks
     v)    Freund Equip Inc.