`UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                                             Washington, D.C.  20549


                                                    FORM 10-K/A


                           [X]   ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                                         SECURITIES EXCHANGE ACT OF 1934

                                   For the fiscal year ended October 31, 2002

                                                       OR

                         [ ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                                         SECURITIES EXCHANGE ACT OF 1934


                             For the transition period from __________ to__________
                                                   ----------
                                         Commission File Number 33-87374
                                                   ----------


                             NAVISTAR FINANCIAL SECURITIES CORPORATION on behalf of
                                   NAVISTAR FINANCIAL DEALER NOTE MASTER TRUST
                             (Exact name of Registrant as specified in its charter)


                           Delaware                                                   36-3731520
---------------------------------------------------------------    --------------------------------------------------
               (State or other jurisdiction of                     (IRS Employer Identification No.)
                incorporation or organization)


                     2850 West Golf Road
                  Rolling Meadows, Illinois                                              60008
---------------------------------------------------------------    --------------------------------------------------
(Address of principal executive offices)                                              (Zip Code)


        Registrant's telephone number, including area code (847) 734-4000

        Securities registered pursuant to Section 12(b) of the Act:  None

        Securities registered pursuant to Section 12(g) of the Act:  None

Indicate  by check  mark  whether  the  registrant  (1) has filed all  reports  required  to be filed by
Section 13 or 15(d) of the  Securities  Exchange Act of 1934 during the  preceding 12 months and (2) has
been subject to such filing requirements for the past 90 days.  Yes X No __








                                                 PART I

Item 1.  Business

      The Navistar  Financial  Dealer Note Trust 1990 (the "1990  trust") was  terminated as of February
28,  1999.  All  outstanding  1990 Trust  Certificates  were  redeemed in full.  At that time all assets
owned by the 1990 Trust were  transferred  to the Navistar  Financial 1995 Dealer Note Master Trust (the
"Master Trust") and the Master Trust became the active trust.

      The Master  Trust was formed  pursuant to a Pooling and  Servicing  Agreement  dated as of June 8,
1995, among Navistar  Financial  Securities  Corporation,  as Seller (the "Seller"),  Navistar Financial
Corporation,  as Servicer,  and The Bank of New York,  as Master  Trust  Trustee.  On June 8, 1995,  the
1990 Trust issued  certificates  representing an undivided  interest in the 1990 Trust assets (the "1990
Trust  Certificates") in the amount of $207.9 million to the Master Trust,  which in turn, issued Series
1995-1  Certificates  in the amount of $200.0 million to the public.  On August 19, 1997, the 1990 Trust
issued  1990 Trust  Certificates  in the amount of $200.0  million to the Master  Trust,  which in turn,
issued  Series 1997-1  Certificates  to the public.  On July 17, 1998,  the 1990 Trust issued 1990 Trust
Certificates  in the amount of $200.0 million to the Master Trust,  which in turn,  issued Series 1998-1
Certificates  to the public.  On July 13, 2000,  the Master Trust issued  Series 2000-1 of Class A and B
Certificates in the amount of $200.0 million and $12.0 million to the public.

      Wholesale  dealer notes (the  "Dealer  Notes") and  security  interests  in the vehicles  financed
thereby were  transferred  to the Master Trust in exchange for floating rate  pass-through  certificates
(the "Investor  Certificates"),  which were remarketed to the public.  Additional  Dealer Notes are sold
on a daily  basis by the  Seller to the Master  Trust to  replace  those  Dealer  Notes  which have been
liquidated or charged off as  uncollectible.  Accordingly,  the aggregate  amount of Dealer Notes in the
Master Trust will  fluctuate  from day to day as new Dealer Notes are generated  and as existing  Dealer
Notes are removed.

      Under the terms of the  Pooling  and  Servicing  Agreement,  the Seller is  required to maintain a
minimum  investment in the Master Trust (the "Minimum  Master Trust  Seller's  Interest"),  a portion of
which is  subordinated to the Investor  Certificates.  If the amount of Dealer Notes in the Master Trust
is less than the combined ownership  interest evidenced by the Investor  Certificates and Minimum Master
Trust Seller's  Interest,  the Seller must transfer  additional funds  ("Investment  Securities") to the
Master Trust to maintain  NFSC's  investment in the Master Trust (the "Master Trust Seller's  Interest")
at an amount not less the Minimum Master Trust Seller's Interest.

Item 2.  Properties

         Not applicable.






                                           PART I (continued)

Item 3.  Legal Proceedings

         The  registrant  knows of no material  pending legal  proceedings  involving  either the Dealer
Notes or the trustees, or the Seller or Servicer in respect of the trusts.

Item 4.  Submission of Matters to a Vote of Security Holders

         No  matter  was  submitted  during  the  period  of this  report  to a vote of  holders  of the
Certificates.

                                                PART II

Item 5.       Market for the Registrant's Common Equity
              and Related Stockholder Matters

         Not applicable.

Item 6.       Selected Financial Data

         Not applicable.

Item 7.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations

         As of  October  31,  2002,  the  combined  aggregate  principal  balance  of  Dealer  Notes and
Investment  Securities was $952.5  million.  Reference is made to Exhibit 13 for additional  information
regarding  principal and interest  payments with respect to the Investor  Certificates  and  information
regarding servicing compensation and other fees paid by the trusts during the fiscal year.

         As of October  31,  2002,  aggregate  principal  balance of Dealer  Notes and the Master  Trust
Seller's Interest was $801.5 million and $140.5 million, respectively.

Item 8.  Financial Statements and Supplementary Data

         Not applicable.

Item 9.  Changes in and Disagreements With Accountants on
         Accounting and Financial Disclosure

         None.






                                                PART III

Item 10.  Directors and Executive Officers of the Registrant

      Not applicable.

Item 11.  Executive Compensation

      Not applicable.

Item 12.  Security Ownership of Certain Beneficial Owners and Management

      Not applicable.

Item 13.  Certain Relationships and Related Transactions

      Not applicable.

                                                     PART IV

Item 14.  Exhibits, Financial Statement Schedules and Reports on Form 8-K

(a)      Exhibits

            3          Articles of Incorporation and By-Laws

           10          Material Contracts

                        An Annual  Summary of the Servicer and  Settlement  Certificate  listed below is an
                        annualized version of the monthly Servicer Certificates prepared by the Servicer.

           13(a)       -  Annual Summary of Servicer and Settlement Certificates    Series 1995-1

           13(b)       -  Annual Summary of Servicer and Settlement Certificates    Series 1997-1

           13(c)       -  Annual Summary of Servicer and Settlement Certificates    Series 1998-1

           13(d)       -  Annual Summary of Servicer and Settlement Certificates    Series 2000-1


(b)            Reports on Form 8-K

      The Registrant  filed the following  reports on Form 8-K during the three months ended October 31,
2002:

        (i)           Form 8-K dated June 30, 2002
        (ii)          Form 8-K dated July 31, 2002
        (iii)         Form 8-K dated September 30, 2002







                                               SIGNATURES


      Pursuant to the  requirements  of Section 13 or 15(d) of the Securities  Exchange Act of 1934, the
registrant  has duly caused this report to be signed on its behalf by the  undersigned,  thereunto  duly
authorized.


                         NAVISTAR FINANCIAL SECURITIES CORPORATION on behalf of
                              NAVISTAR FINANCIAL DEALER NOTE MASTER TRUST
                         (Exact name of Registrant as specified in its charter)



By:  /s/     Paul Martin                                                                       October 16, 2003
             Paul Martin
             Vice President and Controller
             (Principal Accounting Officer)








                                             APPENDIX INDEX




     APPENDIX

     13(a)            Annual Summary
                         -  Servicer and Settlement Certificates
                            Series 1995-1

     13(b)            Annual Summary
                         -  Servicer and Settlement Certificates
                            Series 1997-1

     13(c)            Annual Summary
                         -  Servicer and Settlement Certificates
                            Series 1998-1

     13(d)            Annual Summary
                         -  Servicer and Settlement Certificates
                            Series 2000-1








                                                                                           Appendix 13(a)


                               ANNUAL SERVICER AND SETTLEMENT CERTIFICATE

                                        DEALER NOTE MASTER TRUST


                                          CLASS A, DEALER NOTE
                                       ASSET BACKED CERTIFICATES
                                             SERIES 1995-1


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 Serving  Agreement dated as of June 8,
1995 (as amended and  supplemented,  the  "Agreement")  by and among NFC, NFSC, the Master Trust Trustee
and The Chase  Manhattan  Bank, as 1990 Trust  Trustee,  the Master Trust Trustee is required to prepare
certain  information  each month regarding  current  distributions  to certain  accounts and payments 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, 2001 through October
31,  2002 with  respect  to  distributions  and  performance  of the  Master  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.        The undersigned is a Servicing Officer

3.        Master Trust Information for the period of November 1, 2001 through October 31, 2002:

          3.1        The amount of the Advance, if any, for the Due Period
                                                                                                           $312,903.79

          3.2        The amount of NITC Finance Charges for the Due Period
                                                                                                        $23,012,281.61

          3.3        The average daily balance of Dealer Notes outstanding during the
                     Due Period                                                                        $728,916,833.26

          3.4        The total amount of Advance Reimbursements for the Due Period
                                                                                                                 $0.00


          3.5        The aggregate principal amount of Dealer Notes repaid during the
                     Due Period.                                                                     $2,926,126,679.59

          3.6        The aggregate principal amount of Dealer Notes purchased by the
                     Master Trust during the Due Period.
                                                                                                     $2,930,254,003.76

          3.7        The amount of the Servicing Fee for the Due Period.
                                                                                                         $7,316,014.98

          3.8        The average daily Master Trust Seller's Interest during the Due
                     Period.                                                                           $140,486,470.31

          3.9        The Master Trust Seller's Interest as of the Distribution Date
                     (after giving effect to the transactions set forth in Article IV of
                     the Supplement).
                                                                                                       $140,486,470.31

          3.10       The aggregate amount of Collections for the Due Period.
                                                                                                     $5,628,675,802.73

          3.11       The aggregate amount of Finance Charge Collections for the Due
                     Period.                                                                            $47,987,236.73

          3.12       The aggregate amount of Principal Collections for the Due Period.
                                                                                                     $5,580,688,566.00

          3.13       The amount of Dealer Note Losses for the Due Period.
                                                                                                           $161,341.79

          3.14       The aggregate amount of Dealer Notes as of the last day of the Due
                     Period.                                                                           $801,485,655.44

          3.15       The aggregate amount of funds on deposit in the Excess Funding
                     Account as of the end of the last day of the Due Period (after
                     giving effect to the transactions set forth in Article IV of the
                     Supplement and Article IV of the Agreement.

                                                                                                       $151,247,542.21

          3.16       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.                                                  N/A


                     c.  The rate of interest applicable to each such Eligible Investment.
                                                                                                                   N/A

                     d.  The rating of each such Eligible Investment                                               N/A


          3.17      The aggregate amount of Dealer Notes issued to finance OEM Vehicles, as of
                    the end of the Due Period.
                                                                                                          $8,842,447.56

          3.18      The Dealers with the five largest aggregate outstanding principal amounts of
                    Dealer Notes in the Master Trust as of the end of the Due Period.
                    i)       Nalley Motor Trucks
                    ii)      City Intl Trucks Inc
                    iii)     Prairie International
                    iv)      Southland Int'l Trks
                    v)       Southwest Intl Trks Inc


          3.19      Aggregate amount of delinquent principal payments (past due greater than 30
                    days) as a percentage of the total principal amount outstanding, as of the
                    end of the Due Period.                                                                        0.53%



4.        Series 1995-1 Information for the period of November 1, 2001 through October 31, 2002

          4.1       The Deficiency Amount as of the Transfer Date (after giving effect to the
                    transactions set forth in Article IV of the Supplement).
                                                                                                                 $0.00

          4.2a      The Maximum Subordinated Amount as of the Transfer Date (after giving effect
                    to the transactions set forth in Article IV of the Supplement).                     $31,000,000.00



          4.2b      The Available Subordinated Amount as of the Transfer Date (after giving
                    effect to the transactions set forth in Article IV of the Supplement).              $31,000,000.00



          4.3       The Projected Spread for the following Distribution Period.
                                                                                                         $2,500,000.00

          4.4       The amount on deposit in the Spread Account as of the Transfer Date (after giving
                    effect to the transactions set forth in Article IV of the Supplement).
                                                                                                         $2,500,000.00


          4.5       The aggregate amount on deposit in the Liquidity Reserve Account as of
                    the Transfer Date (after giving effect to the transactions set forth in
                    Article IV of the Supplement.
                                                                                                                 $0.00

          4.6       The aggregate amount on deposit in the Negative Carry Reserve Fund as of
                    the Transfer Date (after giving effect to the transactions set forth in
                    Article IV of the Supplement).
                                                                                                                 $0.00

          4.7       The Invested Amount as of the Distribution Date (after giving effect to
                    the transactions set forth in Article IV of the Supplement and to the
                    payments made on the Distribution Date).
                                                                                                      $200,000,000.00

          4.8       The amount of Series Allocable Dealer Notes Losses for the Due Period.
                                                                                                           $42,568.12

          4.9       The amount of Series Allocable Finance Charge Collections for the Due
                    Period.                                                                            $12,113,550.78

          4.10      The amount of Series Allocable Principal Collections for the Due
                    Period.                                                                         $1,408,684,988.48

          4.11      The amount of Series Principal Account Losses for the Due Period.
                                                                                                                $0.00

          4.12      The amount of Investor Dealer Note Losses for the Due Period.
                                                                                                           $35,441.25

          4.13      The amount of Investor Finance Charge Collections for the Due Period.
                                                                                                       $10,072,743.30

          4.14      The amount of Investor Principal Collections for the Due Period.
                                                                                                    $1,171,443,836.34

          4.15      The amount of Available Certificateholder's Interest Collections for the
                    Due Period.                                                                        $11,099,373.40

          4.16      The amount of Series 1995-1 Shared Principal Collections for the Due
                    Period.                                                                         $1,171,443,836.34

          4.17      The aggregate amount of the Series 1995-1 Principal Shortfall, if any,
                    for the Due Period.                                                                         $0.00

          4.18      The Seller's Percentage for the Due Period.                                                 16.85%



          4.19      The Excess Seller's Percentage for the Due Period.                                           2.70%

          4.20      The aggregate amount of Seller's Principal Collections for the Due
                    Period.                                                                            $237,276,593.40

          4.21      The amount of Available Seller's Finance Charge Collections for the Due
                    Period.                                                                              $2,077,504.54

          4.22      The aggregate amount of Available Seller's Principal Collections for the
                    Due Period.                                                                        $199,257,331.81

          4.23      The aggregate amount of Excess Seller's Principal Collections for the
                    Due Period.                                                                         $38,019,161.60

          4.24      The Controlled Amortization Amount, if applicable, for the Due Period.
                                                                                                                 $0.00

          4.25      The Minimum Series 1995-1 Master Trust Seller's Interest as of the
                    Distribution Date (after giving effect to the transactions set forth in
                    Article IV of the Supplement).
                                                                                                        $39,546,233.59

          4.26      The Series 1995-1 Allocation Percentage for the Due Period.
                                                                                                                25.24%

          4.27      The Floating Allocation Percentage for the Due Period.
                                                                                                                83.15%

          4.28      The Principal Allocation Percentage, if applicable, for the Due Period.
                                                                                                                   N/A

          4.29      The total amount to be distributed on the Series 1995-1 Certificates on
                    the Distribution Date.                                                               $5,945,060.17

          4.30      The total amount, if any, to be distributed on the Series 1995-1
                    Certificates on the Distribution Date allocable to the Invested Amount.

                                                                                                                 $0.00

          4.31      The total amount, if any, to be distributed on the Series 1995-1
                    Certificates on the Distribution Date allocable to interest on the
                    Series 1995-1 Certificates.
                                                                                                         $4,373,952.56

          4.32      The Draw Amount as of the Transfer Date.                                                     $0.00

          4.33      The amount of Investor Charge-Offs as of the Transfer Date.
                                                                                                                 $0.00


          4.34      The amount of reimbursement of Investor Charge-Offs as of the Transfer
                    Date.                                                                                        $0.00

          4.35      The amount of the Investor Servicing Fee to be paid on such Distribution
                    Date.                                                                                $1,535,666.35

          4.36      The aggregate amount of funds on deposit in the Negative Carry Reserve
                    Account as of the end of the last day of the Due Period (after giving
                    effect to the payments and adjustments made pursuant to Article IV of
                    the Supplement and of the Agreement).

                                                                                                                 $0.00

          4.37      The aggregate amount of funds on deposit in the Series Principal Account
                    as of the end of the last day of the Due Period (after giving effect to
                    the payments and adjustments made pursuant to Article IV of the
                    Supplement and of the Agreement).

                                                                                                                 $0.00

          4.38      The aggregate amount of funds on deposit in the Spread Account as of the
                    end of the last day of the Due Period (after giving effect to payments
                    and adjustments made pursuant to Article IV of the Supplement and the
                    Agreement).
                                                                                                         $2,500,000.00

          4.39      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:                                                   N/A

                    c.  The rate of interest applicable to each such Eligible Investment.
                                                                                                                   N/A

                    d.  The rating of each such Eligible Investment.                                               N/A

          4.40      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:                                                   N/A

                    c.  The rate of interest applicable to each such Eligible Investment.
                                                                                                                   N/A

                    d.  The rating of each such Eligible Investment.                                               N/A



          4.41      The amount of Excess Interest Collections for the Due Period.
                                                                                                         $5,154,313.24

          4.42      The amount of Investor Principal Collections treated as Shared
                    Principal Collections for the Due Period.                                        $1,171,443,836.34

          4.43      The amount of Excess Interest Collections for the Due Period
                    allocated to other Series.                                                                   $0.00

          4.44      The amount of Investor Principal Collections treated as Shared
                    Principal Collections for the Due Period allocated to Other Series.
                                                                                                                 $0.00

          4.45      The percentages and all other information calculated pursuant to
                    Sections 6.01 and 7.01 of the Supplement.
                                                                                                                   N/A

          4.46      The amount of Remaining Available Seller's Principal Collections for
                    the Due Period.                                                                              $0.00

          4.47      The amount of Series 1995-1 Shared Seller's Principal Collections for
                    the Due Period.                                                                    $237,304,001.14

          4.48      The aggregate amount of Shared Seller's Principal Collections from
                    Other Series for the Due Period.                                                             $0.00

          4.49      The amount of all Shared Seller's Principal Collections allocated to
                    Series 1995-1 for the Due Period.
                                                                                                                 $0.00

          4.50      The aggregate amount of all Shared Seller's Principal Collections
                    allocated to Other Series for the Due Period.
                                                                                                                 $0.00

          4.51      The aggregate amount of all Early Distribution Amounts paid or deemed
                    paid for the Distribution Period.
                                                                                                                 $0.00










                                                                                           Appendix 13(b)


                               ANNUAL SERVICER AND SETTLEMENT CERTIFICATE

                                        DEALER NOTE MASTER TRUST


                                          CLASS A, DEALER NOTE
                                       ASSET BACKED CERTIFICATES
                                             SERIES 1997-1


Under  the  Series  1997-1  Supplement  dated as of August  19,  1997  (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 (as amended and  supplemented,  the  "Agreement")  by and among NFC, NFSC, the Master
Trust  Trustee  and The Chase  Manhattan  Bank,  as 1990  Trust  Trustee,  the Master  Trust  Trustee is
required to prepare certain  information each month regarding current  distributions to certain accounts
and payments to Series 1997-1  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, 2001
through  October  31,  2002 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.        The undersigned is a Servicing Officer

3.        Master Trust Information for the period of November 1, 2001 through October 31, 2002:

          3.1       The amount of the Advance, if any, for the Due Period
                                                                                                         $312,903.79

          3.2       The amount of NITC Finance Charges for the Due Period
                                                                                                      $23,012,281.61

          3.3       The average daily balance of Dealer Notes outstanding during the
                    Due Period                                                                       $728,916,833.26

          3.4       The total amount of Advance Reimbursements for the Due Period
                                                                                                               $0.00


          3.5       The aggregate principal amount of Dealer Notes repaid during the
                    Due Period.                                                                    $2,926,126,679.59

          3.6       The aggregate principal amount of Dealer Notes purchased by the
                    Master Trust during the Due Period.
                                                                                                   $2,930,254,003.76

          3.7       The amount of the Servicing Fee for the Due Period.
                                                                                                       $7,316,014.98

          3.8       The average daily Master Trust Seller's Interest during the Due
                    Period.                                                                          $140,486,470.31

          3.9       The Master Trust Seller's Interest as of the Distribution Date
                    (after giving effect to the transactions set forth in Article IV
                    of the Supplement).
                                                                                                     $140,486,470.31

          3.10      The aggregate amount of Collections for the Due Period.
                                                                                                   $5,628,675,802.73

          3.11      The aggregate amount of Finance Charge Collections for the Due
                    Period.                                                                           $47,987,236.73

          3.12      The aggregate amount of Principal Collections for the Due Period.
                                                                                                   $5,580,688,566.00

          3.13      The amount of Dealer Note Losses for the Due Period.
                                                                                                         $161,341.79

          3.14      The aggregate amount of Dealer Notes as of the last day of the Due
                    Period.                                                                          $801,485,655.44

          3.15      The aggregate amount of funds on deposit in the Excess Funding
                    Account as of the end of the last day of the Due Period (after
                    giving effect to the transactions set forth in Article IV of the
                    Supplement and Article IV of the Agreement.

                                                                                                     $151,247,542.21

          3.16      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.                                                 N/A



                    c.  The rate of interest applicable to each such Eligible
                           Investment.                                                                           N/A

                    d.  The rating of each such Eligible Investment
                                                                                                                 N/A

          3.17      The aggregate amount of Dealer Notes issued to finance OEM
                    Vehicles, as of the end of the Due Period.
                                                                                                       $8,842,447.56

          3.18      The Dealers with the five largest aggregate outstanding principal
                    amounts of Dealer Notes in the Master Trust as of the end of the
                    Due Period.
                    i)       Nalley Motor Trucks
                    ii)      City Intl Trucks Inc
                    iii)     Prairie International
                    v)       Southland Int'l Trks
                    v)       Southwest Intl Trks Inc

          3.19      Aggregate amount of delinquent principal payments (past due
                    greater than 30 days) as a percentage of the total principal
                    amount outstanding, as of the end of the Due Period.
                                                                                                               0.53%

4.        Series 1997-1 Information for the period of November 1, 2001 through October 31, 2002

          4.1       The Deficiency Amount as of the Transfer Date (after giving effect
                    to the transactions set forth in Article IV of the Supplement).
                                                                                                               $0.00

          4.2a      The Maximum Subordinated Amount as of the Transfer Date (after
                    giving effect to the transactions set forth in Article IV of the
                    Supplement).
                                                                                                      $31,000,000.00

          4.2b      The Available Subordinated Amount as of the Transfer Date (after
                    giving effect to the transactions set forth in Article IV of the
                    Supplement)
                                                                                                      $31,000,000.00

          4.3       The Projected Spread for the following Distribution Period.
                                                                                                       $2,500,000.00

          4.4       The amount on deposit in the Spread Account as of the Transfer
                    Date (after giving effect to the transactions set forth in Article
                    IV of the Supplement).
                                                                                                       $2,500,000.00


          4.5       The aggregate amount on deposit in the Liquidity Reserve Account
                    as of the Transfer Date (after giving effect to the transactions
                    set forth in Article IV of the Supplement.
                                                                                                               $0.00

          4.6       The Invested Amount as of the Distribution Date (after giving
                    effect to the transactions set forth in Article IV of the
                    Supplement and to the payments made on the Distribution Date).

                                                                                                     $200,000,000.00

          4.7       The amount of Series Allocable Dealer Notes Losses for the Due
                    Period.                                                                               $42,086.43

          4.8       The amount of Series Allocable Finance Charge Collections for the
                    Due Period.                                                                       $11,956,516.60

          4.9       The amount of Series Allocable Principal Collections for the Due
                    Period.                                                                        $1,390,507,521.79

          4.10      The amount of Series Principal Account Losses for the Due Period.
                                                                                                               $0.00

          4.11      The amount of Investor Dealer Note Losses for the Due Period.
                                                                                                          $35,441.36

          4.12      The amount of Investor Finance Charge Collections for the Due
                    Period.                                                                           $10,072,802.64

          4.13      The amount of Investor Principal Collections for the Due Period.
                                                                                                   $1,171,450,777.78

          4.14      The amount of Available Certificateholder's Interest Collections
                    for the Due Period.                                                               $11,105,290.24

          4.15      The amount of Series 1997-1 Shared Principal Collections for the
                    Due Period.                                                                    $1,171,450,777.78

          4.16      The aggregate amount of the Series 1997-1 Principal Shortfall, if
                    any, for the Due Period.
                                                                                                               $0.00

          4.17      The Seller's Percentage for the Due Period.                                               15.76%

          4.18      The Excess Seller's Percentage for the Due Period.
                                                                                                               2.70%

          4.19      The aggregate amount of Seller's Principal Collections for the Due
                    Period.                                                                          $219,092,185.39


          4.20      The amount of Available Seller's Finance Charge Collections for
                    the Due Period.                                                                    $1,919,928.27

          4.21      The aggregate amount of Available Seller's Principal Collections
                    for the Due Period.                                                              $181,561,791.95


          4.22      The aggregate amount of Excess Seller's Principal Collections for
                    the Due Period                                                                    $37,530,393.43

          4.23      The Controlled Amortization Amount, if applicable, for the Due
                    Period.                                                                                    $0.00

          4.24      The Minimum Series 1997-1 Master Trust Seller's Interest as of the
                    Distribution Date (after giving effect to the transactions set
                    forth in Article IV of the Supplement).
                                                                                                      $37,000,000.00

          4.25      The Series 1997-1 Allocation Percentage for the Due Period.
                                                                                                              24.92%

          4.26      The Floating Allocation Percentage for the Due Period.
                                                                                                              84.25%

          4.27      The Principal Allocation Percentage, if applicable, for the Due
                    Period.                                                                                      N/A

          4.28      The total amount, if any, to be distributed on the Series 1997-1
                    Certificates on the Distribution Date.
                                                                                                       $5,641,735.57

          4.29      The total amount, if any, to be distributed on the Series 1997-1
                    Certificates on the Distribution Date allocable to the Invested
                    Amount.
                                                                                                               $0.00

          4.30      The total amount, if any, to be distributed on the Series 1997-1
                    Certificates on the Distribution Date allocable to interest on the
                    Series 1997-1 Certificates.
                                                                                                       $4,070,619.23

          4.31      The Draw Amount as of the Transfer Date.                                                   $0.00

          4.32      The amount of Investor Charge-Offs as of the Transfer Date.
                                                                                                               $0.00

          4.33      The amount of reimbursement of Investor Charge-Offs as of the
                    Transfer Date.                                                                             $0.00


          4.34      The amount of the Investor Servicing Fee to be paid on such
                    Distribution Date.                                                                 $1,535,674.98

          4.35      The aggregate amount of funds on deposit in the Series Principal
                    Account as of the end of the last day of the Due Period (after
                    giving effect to the payments and adjustments made pursuant to
                    Article IV of the Supplement and of the Agreement).

                                                                                                               $0.00

          4.36      The aggregate amount of funds on deposit in the Spread Account as
                    of the end of the last day of the Due Period (after giving effect
                    to payments and adjustments made pursuant to Article IV of the
                    Supplement and the Agreement).

                                                                                                       $2,500,000.00

          4.37      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:                                                 N/A

                    c.  The rate of interest applicable to each such Eligible
                           Investment.                                                                           N/A

                    d.  The rating of each such Eligible Investment.                                             N/A

          4.38      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:                                                 N/A

                    c.  The rate of interest applicable to each such Eligible
                           Investment.                                                                           N/A

                    d.  The rating of each such Eligible Investment.                                             N/A

          4.39      The amount of Excess Interest Collections for the Due Period.
                                                                                                       $5,463,554.66


          4.40      The amount of Investor Principal Collections treated as Shared
                    Principal Collections for the Due Period.
                                                                                                   $1,171,450,777.78

          4.41      The amount of Excess Interest Collections for the Due Period
                    Allocated to other Series.                                                                 $0.00

          4.42      The amount of Investor Principal Collections treated as Shared
                    Principal Collections for the Due Period allocated to Other Series.
                                                                                                               $0.00

          4.43      The percentages and all other information calculated pursuant to
                    Sections 6.01 of the Supplement.                                                             N/A

          4.44      The amount of Remaining Available Seller's Principal Collections
                    for the Due Period.                                                                        $0.00

          4.45      The amount of Series 1997-1 Shared Seller's Principal Collections
                    for the Due Period.                                                              $219,092,185.39

          4.46      The aggregate amount of Shared Seller's Principal Collections from
                    Other Series for the Due Period.
                                                                                                               $0.00

          4.47      The amount of all Shared Seller's Principal Collections allocated
                    to Series 1997-1 for the Due Period.
                                                                                                               $0.00

          4.48      The aggregate amount of all Shared Seller's Principal Collections
                    allocated to Other Series for the Due Period.
                                                                                                               $0.00

          4.49      The aggregate amount of all Early Distribution Amounts paid or
                    deemed paid for the Distribution Period.
                                                                                                               $0.00









                                                                                           Appendix 13(c)


                               ANNUAL SERVICER AND SETTLEMENT CERTIFICATE

                                        DEALER NOTE MASTER TRUST


                                          CLASS A, DEALER NOTE
                                       ASSET BACKED CERTIFICATES
                                             SERIES 1998-1


Under the Series 1998-1  Supplement  dated as of July 17, 1998 (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 (as  amended  and  supplemented,  the  "Agreement")  by and among NFC,  NFSC,  the Master  Trust
Trustee and The Chase  Manhattan  Bank, as 1990 Trust  Trustee,  the Master Trust Trustee is required to
prepare  certain  information  each  month  regarding  current  distributions  to certain  accounts  and
payments to Series 1998-1  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, 2001 through
October  31,  2002 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.         The undersigned is a Servicing Officer

3.         Master Trust Information for the period of November 1,2001 through October 31, 2002:

           3.1      The amount of the Advance, if any, for the Due Period
                                                                                                          $312,903.79

           3.2      The amount of NITC Finance Charges for the Due Period
                                                                                                       $23,012,281.61

           3.3      The average daily balance of Dealer Notes outstanding during the Due
                    Period                                                                            $728,916,833.26

           3.4      The total amount of Advance Reimbursements for the Due Period
                                                                                                                $0.00


           3.5      The aggregate principal amount of Dealer Notes repaid during the
                    Due Period.                                                                     $2,926,126,679.59

           3.6      The aggregate principal amount of Dealer Notes purchased by the
                    Master Trust during the Due Period.
                                                                                                    $2,930,254,003.76

           3.7      The amount of the Servicing Fee for the Due Period.
                                                                                                        $7,316,014.98

           3.8      The average daily Master Trust Seller's Interest during the Due
                    Period.                                                                           $140,486,470.31

           3.9      The Master Trust Seller's Interest as of the Distribution Date
                    (after giving effect to the transactions set forth in Article IV of
                    the Supplement).
                                                                                                      $140,486,470.31

           3.10     The aggregate amount of Collections for the Due Period.
                                                                                                    $5,628,675,802.73

           3.11     The aggregate amount of Finance Charge Collections for the Due
                    Period.                                                                            $47,987,236.73

           3.12     The aggregate amount of Principal Collections for the Due Period.
                                                                                                    $5,580,688,566.00

           3.13     The amount of Dealer Note Losses for the Due Period.
                                                                                                          $161,341.79

           3.14     The aggregate amount of Dealer Notes as of the last day of the Due
                    Period.                                                                           $801,485,655.44

           3.15     The aggregate amount of funds on deposit in the Excess Funding
                    Account as of the end of the last day of the Due Period (after
                    giving effect to the transactions set forth in Article IV of the
                    Supplement and Article IV of the Agreement.

                                                                                                      $151,247,542.21

           3.16     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.                                                  N/A


                    c.  The rate of interest applicable to each such Eligible Investment.
                                                                                                                  N/A

                    d.  The rating of each such Eligible Investment
                                                                                                                  N/A

           3.17     The aggregate amount of Dealer Notes issued to finance OEM Vehicles,
                    as of the end of the Due Period.
                                                                                                        $8,842,447.56

           3.18     The Dealers with the five largest aggregate outstanding principal
                    amounts of Dealer Notes in the Master Trust as of the end of the Due
                    Period.
                    i)       Nalley Motor Trucks
                    ii)      City Intl Trucks Inc
                    iii)     Prairie International
                    vi)      Southland Int'l Trks
                    v)       Southwest Intl Trks Inc

           3.19     Aggregate amount of delinquent principal payments (past due greater
                    than 30 days) as a percentage of the total principal amount
                    outstanding, as of the end of the Due Period.
                                                                                                                0.53%

4.         Series 1998-1 Information for the period of November 1, 2001 through October 31, 2002

           4.1      The Deficiency Amount as of the Transfer Date (after giving effect
                    to the transactions set forth in Article IV of the Supplement).
                                                                                                                $0.00

           4.2a     The Maximum Subordinated Amount as of the Transfer Date (after
                    giving effect to the transactions set forth in Article IV of the
                    Supplement).
                                                                                                       $31,000,000.00

           4.2b     The Available Subordinated Amount as of the Transfer Date (after
                    giving effect to the transactions set forth in Article IV of the
                    Supplement)
                                                                                                       $31,000,000.00

           4.3      The Projected Spread for the following Distribution Period.
                                                                                                        $2,500,000.00

           4.4      The amount on deposit in the Spread Account as of the Transfer Date
                    (after giving effect to the transactions set forth in Article IV of
                    the Supplement).
                                                                                                        $2,500,000.00


           4.5      The aggregate amount on deposit in the Liquidity Reserve Account as
                    of the Transfer Date (after giving effect to the transactions set
                    forth in Article IV of the Supplement.
                                                                                                                $0.00

           4.6      The Invested Amount as of the Distribution Date (after giving effect
                    to the transactions set forth in Article IV of the Supplement and to
                    the payments made on the Distribution Date).

                                                                                                      $200,000,000.00

           4.7      The amount of Series Allocable Dealer Notes Losses for the Due
                    Period.                                                                                $42,086.43

           4.8      The amount of Series Allocable Finance Charge Collections for the
                    Due Period.                                                                        $11,956,516.60

           4.9      The amount of Series Allocable Principal Collections for the Due
                    Period.                                                                         $1,390,507,521.79

           4.10     The amount of Series Principal Account Losses for the Due Period.
                                                                                                                $0.00

           4.11     The amount of Investor Dealer Note Losses for the Due Period.
                                                                                                           $35,441.36

           4.12     The amount of Investor Finance Charge Collections for the Due Period.
                                                                                                       $10,072,802.64

           4.13     The amount of Investor Principal Collections for the Due Period.
                                                                                                    $1,171,450,777.78

           4.14     The amount of Available Certificateholder's Interest Collections for
                    the Due Period.                                                                    $11,105,290.24

           4.15     The amount of Series 1998-1 Shared Principal Collections for the Due
                    Period.                                                                         $1,171,450,777.78

           4.16     The aggregate amount of the Series 1998-1 Principal Shortfall, if
                    any, for the Due Period.
                                                                                                                $0.00

           4.17     The Seller's Percentage for the Due Period.                                                15.76%

           4.18     The Excess Seller's Percentage for the Due Period.
                                                                                                                2.70%

           4.19     The aggregate amount of Seller's Principal Collections for the Due
                    Period.                                                                           $219,092,185.39


           4.20     The amount of Available Seller's Finance Charge Collections for
                    the Due Period.                                                                    $1,919,928.27

           4.21     The aggregate amount of Available Seller's Principal Collections
                    for the Due Period.                                                              $181,561,791.95

           4.22     The aggregate amount of Excess Seller's Principal Collections for
                    the Due Period                                                                    $37,530,393.43

           4.23     The Controlled Amortization Amount, if applicable, for the Due
                    Period.                                                                                    $0.00

           4.24     The Minimum Series 1998-1 Master Trust Seller's Interest as of
                    the Distribution Date (after giving effect to the transactions
                    set forth in Article IV of the Supplement).

                                                                                                      $37,000,000.00

           4.25     The Series 1998-1 Allocation Percentage for the Due Period.
                                                                                                              24.92%

           4.26     The Floating Allocation Percentage for the Due Period.
                                                                                                              84.25%

           4.27     The Principal Allocation Percentage, if applicable, for the Due
                    Period.                                                                                      N/A

           4.28     The total amount, if any, to be distributed on the Series 1998-1
                    Certificates on the Distribution Date.
                                                                                                       $5,661,957.79

           4.29     The total amount, if any, to be distributed on the Series 1998-1
                    Certificates on the Distribution Date allocable to the Invested
                    Amount.
                                                                                                               $0.00

           4.30     The total amount, if any, to be distributed on the Series 1998-1
                    Certificates on the Distribution Date allocable to interest on
                    the Series 1998-1 Certificates.
                                                                                                       $4,090,841.45

           4.31     The Draw Amount as of the Transfer Date.                                                   $0.00

           4.32     The amount of Investor Charge-Offs as of the Transfer Date.
                                                                                                               $0.00

           4.33     The amount of reimbursement of Investor Charge-Offs as of the
                    Transfer Date.                                                                             $0.00


           4.34     The amount of the Investor Servicing Fee to be paid on such
                    Distribution Date.                                                                 $1,535,674.98

           4.35     The aggregate amount of funds on deposit in the Series Principal
                    Account as of the end of the last day of the Due Period (after
                    giving effect to the payments and adjustments made pursuant to
                    Article IV of the Supplement and of the Agreement).

                                                                                                               $0.00

           4.36     The aggregate amount of funds on deposit in the Spread Account as
                    of the end of the last day of the Due Period (after giving effect
                    to payments and adjustments made pursuant to Article IV of the
                    Supplement and the Agreement).
                                                                                                       $2,500,000.00

           4.37     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:                                                 N/A

                    c.  The rate of interest applicable to each such Eligible
                           Investment.                                                                           N/A

                    d.  The rating of each such Eligible Investment.
                                                                                                                 N/A

           4.38     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:                                                 N/A

                    c.  The rate of interest applicable to each such Eligible
                           Investment.                                                                           N/A

                    d.  The rating of each such Eligible Investment.                                             N/A

           4.39     The amount of Excess Interest Collections for the Due Period.
                                                                                                       $5,443,332.44

           4.40     The amount of Investor Principal Collections treated as Shared
                    Principal Collections for the Due Period.
                                                                                                   $1,171,450,777.78

           4.41     The amount of Excess Interest Collections for the Due Period
                    Allocated to other Series.
                                                                                                               $0.00

           4.42     The amount of Investor Principal Collections treated as Shared
                    Principal Collections for the Due Period allocated to Other
                    Series.                                                                                    $0.00

           4.43     The percentages and all other information calculated pursuant to
                    Sections 6.01 of the Supplement.
                                                                                                                 N/A

           4.44     The amount of Remaining Available Seller's Principal Collections
                    for the Due Period.                                                                        $0.00

           4.45     The amount of Series 1998-1 Shared Seller's Principal Collections
                    for the Due Period.                                                              $219,092,185.39

           4.46     The aggregate amount of Shared Seller's Principal Collections
                    from Other Series for the Due Period.
                                                                                                               $0.00

           4.47     The amount of all Shared Seller's Principal Collections allocated
                    to Series 1998-1 for the Due Period.
                                                                                                               $0.00

           4.48     The aggregate amount of all Shared Seller's Principal Collections
                    allocated to Other Series for the Due Period.
                                                                                                               $0.00

           4.49     The aggregate amount of all Early Distribution Amounts paid or
                    deemed paid for the Distribution Period.
                                                                                                               $0.00









                                                                                           Appendix 13(d)


                               ANNUAL SERVICER AND SETTLEMENT CERTIFICATE

                                        DEALER NOTE MASTER TRUST


                                    CLASS A and CLASS B DEALER NOTE
                                       ASSET BACKED CERTIFICATES
                                             SERIES 2000-1


Under the Series 2000-1  Supplement  dated as of July 13, 2000 (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 (as  amended  and  supplemented,  the  "Agreement")  by and among NFC,  NFSC,  the Master  Trust
Trustee and The Chase  Manhattan  Bank, as 1990 Trust  Trustee,  the Master Trust Trustee is required to
prepare  certain  information  each  month  regarding  current  distributions  to certain  accounts  and
payments to Series 2000-1  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, 2001 through
October  31,  2002 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.         The undersigned is a Servicing Officer

3.         Master Trust Information for the period of November 1, 2001 through October 31, 2002:

           3.1      The amount of the Advance, if any, for the Due Period
                                                                                                          $312,903.79

           3.2      The amount of NITC Finance Charges for the Due Period
                                                                                                       $23,012,281.61

           3.3      The average daily balance of Dealer Notes outstanding during the Due
                    Period                                                                            $728,916,833.26

           3.4      The total amount of Advance Reimbursements for the Due Period
                                                                                                                $0.00


           3.5      The aggregate principal amount of Dealer Notes repaid during the Due
                    Period.                                                                         $2,926,126,679.59

           3.6      The aggregate principal amount of Dealer Notes purchased by the
                    Master Trust during the Due Period.
                                                                                                    $2,930,254,003.76

           3.7      The amount of the Servicing Fee for the Due Period.
                                                                                                        $7,316,014.98

           3.8      The average daily Master Trust Seller's Interest during the Due
                    Period.                                                                           $140,486,470.31

           3.9      The Master Trust Seller's Interest as of the Distribution Date
                    (after giving effect to the transactions set forth in Article IV of
                    the Supplement).
                                                                                                      $140,486,470.31

           3.10     The aggregate amount of Collections for the Due Period.
                                                                                                    $5,628,675,802.73

           3.11     The aggregate amount of Finance Charge Collections for the Due
                    Period.                                                                            $47,987,236.73

           3.12     The aggregate amount of Principal Collections for the Due Period.
                                                                                                    $5,580,688,566.00

           3.13     The amount of Dealer Note Losses for the Due Period.
                                                                                                          $161,341.79

           3.14     The aggregate amount of Dealer Notes as of the last day of the Due
                    Period.                                                                           $801,485,655.44

           3.15     The aggregate amount of funds on deposit in the Excess Funding
                    Account as of the end of the last day of the Due Period (after
                    giving effect to the transactions set forth in Article IV of the
                    Supplement and Article IV of the Agreement.

                                                                                                      $151,247,542.21

           3.16     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.                                                  N/A


                    c.  The rate of interest applicable to each such Eligible Investment.
                                                                                                                  N/A

                    d.  The rating of each such Eligible Investment
                                                                                                                  N/A

           3.17     The aggregate amount of Dealer Notes issued to finance OEM Vehicles,
                    as of the end of the Due Period.
                                                                                                        $8,842,447.56

           3.18     The Dealers with the five largest aggregate outstanding principal
                    amounts of Dealer Notes in the Master Trust as of the end of the Due
                    Period.
                    i)       Nalley Motor Trucks
                    ii)      City Intl Trucks Inc
                    iii)     Prairie International
                    vii)     Southland Int'l Trks
                    v)       Southwest Intl Trks Inc

           3.19     Aggregate amount of delinquent principal payments (past due greater
                    than 30 days) as a percentage of the total principal amount
                    outstanding, as of the end of the Due Period.
                                                                                                                0.53%

4.         Series 2000-1 Information for the period of November 1, 2001 through October 31, 2002

           4.1      The Deficiency Amount as of the Transfer Date (after giving effect
                    to the transactions set forth in Article IV of the Supplement).
                                                                                                                $0.00

           4.2a     The Maximum Subordinated Amount as of the Transfer Date (after
                    giving effect to the transactions set forth in Article IV of the
                    Supplement).
                                                                                                       $19,080,000.00

           4.2b     The Available Subordinated Amount as of the Transfer Date (after
                    giving effect to the transactions set forth in Article IV of the
                    Supplement)
                                                                                                       $19,080,000.00

           4.3      The Projected Spread for the following Distribution Period.
                                                                                                        $2,650,000.00

           4.4      The amount on deposit in the Spread Account as of the Transfer Date
                    (after giving effect to the transactions set forth in Article IV of
                    the Supplement).
                                                                                                        $2,650,000.00


           4.5      The aggregate amount on deposit in the Liquidity Reserve Account as
                    of the Transfer Date (after giving effect to the transactions set
                    forth in Article IV of the Supplement.
                                                                                                                $0.00

           4.6      The Invested Amount as of the Distribution Date (after giving effect
                    to the transactions set forth in Article IV of the Supplement and to
                    the payments made on the Distribution Date).

                                                                                                      $212,000,000.00

           4.7      The amount of Series Allocable Dealer Notes Losses for the Due
                    Period.                                                                                $42,100.96

           4.8      The amount of Series Allocable Finance Charge Collections for the
                    Due Period.                                                                        $11,960,660.07

           4.9      The amount of Series Allocable Principal Collections for the Due
                    Period.                                                                         $1,390,989,337.98

           4.10     The amount of Series Principal Account Losses for the Due Period.
                                                                                                                $0.00

           4.11     The amount of Investor Dealer Note Losses for the Due Period.
                                                                                                           $37,567.25

           4.12     The amount of Investor Finance Charge Collections for the Due Period.
                                                                                                       $10,677,117.96

           4.13     The amount of Investor Principal Collections for the Due Period.
                                                                                                    $1,241,732,402.12

           4.14     The amount of Available Certificateholder's Interest Collections for
                    the Due Period.                                                                    $11,712,569.21

           4.15     The amount of Series 2000-1 Shared Principal Collections for the Due
                    Period.                                                                         $1,241,732,402.12

           4.16     The aggregate amount of the Series 2000-1 Principal Shortfall, if
                    any, for the Due Period.
                                                                                                                $0.00

           4.17     The Seller's Percentage for the Due Period.                                                10.77%

           4.18     The Excess Seller's Percentage for the Due Period.
                                                                                                                2.74%

           4.19     The aggregate amount of Seller's Principal Collections for the Due
                    Period.                                                                           $149,294,503.07


           4.20     The amount of Available Seller's Finance Charge Collections for
                    the Due Period.                                                                    $1,319,761.27

           4.21     The aggregate amount of Available Seller's Principal Collections
                    for the Due Period.                                                              $111,750,773.75

           4.22     The aggregate amount of Excess Seller's Principal Collections for
                    the Due Period                                                                    $37,543,729.30

           4.23     The Controlled Amortization Amount, if applicable, for the Due
                    Period.                                                                                    $0.00

           4.24     The Minimum Series 2000-1 Master Trust Seller's Interest as of
                    the Distribution Date (after giving effect to the transactions
                    set forth in Article IV of the Supplement).

                                                                                                      $25,440,000.00

           4.25     The Series 2000-1 Allocation Percentage for the Due Period.
                                                                                                              24.94%

           4.26     The Floating Allocation Percentage for the Due Period.
                                                                                                              89.24%

           4.27     The Principal Allocation Percentage, if applicable, for the Due
                    Period.                                                                                    0.00%

           4.28     The total amount, if any, to be distributed on the Series 2000-1
                    Certificates on the Distribution Date.
                                                                                                       $6,230,986.75

           4.29     The total amount, if any, to be distributed on the Series 2000-1
                    Certificates on the Distribution Date allocable to the Invested
                    Amount.
                                                                                                               $0.00

           4.30     The total amount, if any, to be distributed on the Series 2000-1
                    Certificates on the Distribution Date allocable to interest on
                    the Series 2000-1 Certificates.
                                                                                                       $4,565,611.93

           4.31     The Draw Amount as of the Transfer Date.                                                   $0.00

           4.32     The amount of Investor Charge-Offs as of the Transfer Date.
                                                                                                               $0.00

           4.33     The amount of reimbursement of Investor Charge-Offs as of the
                    Transfer Date.                                                                             $0.00


           4.34     The amount of the Investor Servicing Fee to be paid on such
                    Distribution Date.                                                                 $1,627,807.58

           4.35     The aggregate amount of funds on deposit in the Series Principal
                    Account as of the end of the last day of the Due Period (after
                    giving effect to the payments and adjustments made pursuant to
                    Article IV of the Supplement and of the Agreement).

                                                                                                               $0.00

           4.36     The aggregate amount of funds on deposit in the Spread Account as
                    of the end of the last day of the Due Period (after giving effect
                    to payments and adjustments made pursuant to Article IV of the
                    Supplement and the Agreement).
                                                                                                       $2,650,000.00

           4.37     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:                                                 N/A

                    c.  The rate of interest applicable to each such Eligible
                           Investment.                                                                           N/A

                    d.  The rating of each such Eligible Investment.
                                                                                                                 N/A

           4.38     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:                                                 N/A

                    c.  The rate of interest applicable to each such Eligible
                           Investment.                                                                           N/A

                    d.  The rating of each such Eligible Investment.                                             N/A

           4.39     The amount of Excess Interest Collections for the Due Period.
                                                                                                       $5,434,937.62


           4.40     The amount of Investor Principal Collections treated as Shared
                    Principal Collections for the Due Period.
                                                                                                   $1,241,723,405.43

           4.41     The amount of Excess Interest Collections for the Due Period
                    Allocated to other Series.
                                                                                                               $0.00

           4.42     The amount of Investor Principal Collections treated as Shared
                    Principal Collections for the Due Period allocated to Other
                    Series.                                                                                    $0.00

           4.43     The percentages and all other information calculated pursuant to
                    Sections 6.01 of the Supplement.
                                                                                                                 N/A

           4.44     The amount of Remaining Available Seller's Principal Collections
                    for the Due Period.                                                                        $0.00

           4.45     The amount of Series 2000-1 Shared Seller's Principal Collections
                    for the Due Period.                                                              $149,293,425.07

           4.46     The aggregate amount of Shared Seller's Principal Collections
                    from Other Series for the Due Period.
                                                                                                               $0.00

           4.47     The amount of all Shared Seller's Principal Collections allocated
                    to Series 2000-1 for the Due Period.
                                                                                                               $0.00

           4.48     The aggregate amount of all Shared Seller's Principal Collections
                    allocated to Other Series for the Due Period.
                                                                                                               $0.00

           4.49     The aggregate amount of all Early Distribution Amounts paid or
                    deemed paid for the Distribution Period.
                                                                                                               $0.00







                                             EXHIBIT INDEX




     Exhibit No.

     3                Articles of Incorporation and By-Laws.

     10               Material Contracts.

     31               Certification Pursuant to Section 302 of The Sarbanes-Oxley Act of 2002.

     99.1             Management's Assertion Concerning Compliance.

     99.2             Independent Auditor's Report.

     99.3             Officer's Compliance Certificate.`