<PAGE>

                                                                     EXHIBIT 4.6

                      MASTER RECEIVABLES PURCHASE AGREEMENT

                                     between

                                [NAME OF SELLER]
                                     Seller

                                       and

                     HOUSEHOLD AUTO RECEIVABLES CORPORATION
                                    Purchaser

                                   dated as of

                                ----------------

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                           <C>
ARTICLE I DEFINITIONS .....................................................    1

      SECTION 1.1 General .................................................    1
      SECTION 1.2 Specific Terms ..........................................    1
      SECTION 1.3 Other Definitional Provisions ...........................    2
      SECTION 1.4 Certain References ......................................    2
      SECTION 1.5 No Recourse .............................................    3

ARTICLE II CONVEYANCE OF THE RECEIVABLES AND THE OTHER
             CONVEYED PROPERTY ............................................    3

      SECTION 2.1 Purchase ................................................    3

ARTICLE III REPRESENTATIONS AND WARRANTIES ................................    5

      SECTION 3.1 Representations and Warranties of Seller ................    5
      SECTION 3.2 Representations and Warranties of HARC ..................    7

ARTICLE IV COVENANTS OF SELLER ............................................    8

      SECTION 4.1 Seller's Covenants ......................................    8

ARTICLE V REPURCHASES .....................................................    9

      SECTION 5.1 Repurchase of Receivables Upon Breach of Warranty .......    9
      SECTION 5.2 Reassignment of Repurchased Receivables .................   10
      SECTION 5.3 Waivers .................................................   10

ARTICLE VI MISCELLANEOUS ..................................................   10

      SECTION 6.1 Liability of Seller .....................................   10
      SECTION 6.2 Amendment ...............................................   10
      SECTION 6.3 GOVERNING LAW ...........................................   11
      SECTION 6.4 Notices .................................................   11
      SECTION 6.5 Severability of Provisions ..............................   11
      SECTION 6.6 Assignment ..............................................   11
      SECTION 6.7 Acknowledgment and Agreement of Seller ..................   12
      SECTION 6.8 Further Assurances ......................................   12
      SECTION 6.9 No Waiver; Cumulative Remedies ..........................   12
      SECTION 6.10 Counterparts ...........................................   12
      SECTION 6.11 Binding Effect; Third-Party Beneficiaries ..............   12
      SECTION 6.12 Merger and Integration .................................   12
      SECTION 6.13 Heading ................................................   13
      SECTION 6.14 Schedules and Exhibits .................................   13
      SECTION 6.15 Survival of Representations and Warranties .............   13
      SECTION 6.16 Nonpetition Covenant ...................................   13
</TABLE>


                                        i
<PAGE>

                                    EXHIBITS

EXHIBIT A       Form of Receivables Purchase Agreement Supplement
SCHEDULE A      Schedule of Receivables


                                       ii
<PAGE>

                      MASTER RECEIVABLES PURCHASE AGREEMENT

            THIS MASTER RECEIVABLES PURCHASE AGREEMENT, dated as of
____________________, executed between Household Auto Receivables Corporation, a
Nevada corporation, as purchaser ("HARC") and [Name of Seller], a
______________, as seller ("Seller").

                              W I T N E S S E T H :

            WHEREAS, HARC has agreed to purchase from time to time from Seller,
and Seller, pursuant to this Agreement, has agreed to transfer from time to time
to HARC the Receivables and the Other Conveyed Property.

            NOW, THEREFORE, in consideration of the premises and the mutual
agreements hereinafter contained, and for other good and valuable consideration,
the receipt of which is acknowledged, HARC and Seller, intending to be legally
bound, hereby agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

            SECTION 1.1 General. Capitalized terms used herein without
definition shall have the respective meanings assigned to such terms in the
Master Sale and Servicing Agreement dated as of ____________________, by and
among Household Automotive Funding Trust _____, as Issuer, HARC, as Seller,
Household Finance Corporation, as Master Servicer, and [Name of Indenture
Trustee], as Indenture Trustee.

            SECTION 1.2 Specific Terms. Whenever used in this Agreement, the
following words and phrases, unless the context otherwise requires, shall have
the following meanings:

            "Agreement" means this Master Receivables Purchase Agreement and all
amendments hereof and supplements hereto.

            "Closing Date" means __________________.

            "Conveyance" shall have the meaning specified in Section 2.1.

            "Conveyance Papers" shall have the meaning specified in Section 3.1.

            "Cutoff Date" shall have the meaning assigned to such term in the
applicable Series Supplement or Receivables Purchase Agreement Supplement.

            "Master Sale and Servicing Agreement" means each agreement so
entitled among HARC, Household Finance Corporation, as Master Servicer, the
indenture trustee


                                       1
<PAGE>

named therein and the issuer named therein pursuant to which Receivables are
conveyed by HARC to such issuer.

            "Other Conveyed Property" means all money, instruments, rights and
other property that are subject or intended to be subject to the lien and
security interest of the Indenture (including all property and interests granted
to the Indenture Trustee), including all proceeds thereof, other than the
Receivables.

            "Purchase Date" means, with respect to Receivables, any date, on
which Receivables are to be purchased by HARC pursuant to this Agreement and a
Purchase Agreement Supplement is executed and delivered by the Seller and HARC.

            "Receivables" means the Receivables listed on the Schedules of
Receivables attached to this Agreement or to each Receivables Purchase Agreement
Supplement as Schedule A.

            "Receivables Purchase Agreement Supplement" means the agreement
between HARC and the Seller, substantially in the form of Exhibit A hereto.

            "Repurchase Event" means a determination pursuant to Section 2.1 and
Section 3.2 of the Master Sale and Servicing Agreement that HARC is required to
repurchase a Receivable.

            "Schedule of Receivables" means the schedule of Receivables sold and
transferred pursuant to this Agreement and the related Receivables Purchase
Agreement Supplement which is attached as Schedule A to this Agreement or to the
related Receivables Purchase Agreement Supplement.

            SECTION 1.3 Other Definitional Provisions.

            (a) All terms defined in this Agreement shall have the defined
meanings when used in any certificate, other documents, or Conveyance Paper made
or delivered pursuant hereto unless otherwise defined herein.

            (b) The words "hereof", "herein" and "hereunder" and words of
similar import when used in this Agreement or any Conveyance Paper shall refer
to this Agreement as a whole and not to any particular provision of this
Agreement; and Section, Subsection, Schedule and Exhibit references contained in
this Agreement are references to Sections, Subsections, Schedules and Exhibits
in or to this Agreement unless otherwise specified.

            (c) All determinations of the principal or finance charge balance of
Receivables, and of any collections thereof, shall be made in accordance with
the Master Sale and Servicing Agreement and all applicable Series Supplements.

            SECTION 1.4 Certain References. All references to the Principal
Balance of a Receivable as of any date of determination shall refer to the close
of business on such day, or as of the first day of a Collection Period shall
refer to the opening of


                                       2
<PAGE>

business on such day. All references to the last day of a Collection Period
shall refer to the close of business on such day.

            SECTION 1.5 No Recourse. Without limiting the obligations of Seller
hereunder, no recourse may be taken, directly or indirectly, under this
Agreement or any certificate or other writing delivered in connection herewith
or therewith, against any stockholder, officer or director, as such, of Seller,
or of any predecessor or successor of Seller.

                                   ARTICLE II

                          CONVEYANCE OF THE RECEIVABLES
                         AND THE OTHER CONVEYED PROPERTY

            SECTION 2.1 Purchase.

            (a) By execution of this Agreement and subject to the terms and
conditions of this Agreement, the Seller shall sell, transfer, assign, and
otherwise convey to HARC (collectively, the "Conveyance") without recourse (but
without limitation of its obligations in this Agreement), and HARC shall
purchase, all right, title and interest of Seller in and to:

            (i) each and every Receivable listed on Schedule A hereto or to the
      related Receivables Purchase Agreement Supplement and all monies paid or
      payable thereon or in respect thereof on or after the related Cutoff Date
      (including amounts due on or before the related Cutoff Date but received
      by the Seller on or after such date);

            (ii) the security interests in the related Financed Vehicles granted
      by Obligors pursuant to such Receivables and any other interest of the
      Seller in such Financed Vehicles;

            (iii) all rights of the Seller against Dealers pursuant to Dealer
      Agreements or Dealer Assignments or Unaffiliated Originator Receivables
      Purchase Agreements related to such Receivables;

            (iv) any proceeds and the right to receive proceeds with respect to
      such Receivables repurchased by either (i) a Dealer, pursuant to a Dealer
      Agreement or (ii) an Unaffiliated Originator, pursuant to an Unaffiliated
      Originator Receivables Purchase Agreement, as a result of a breach of
      representation or warranty in the related Dealer Agreement or Unaffiliated
      Originator Receivables Purchase Agreement, as applicable;

            (v) all rights of Seller under any Service Contracts on the related
      Financed Vehicles;


                                       3
<PAGE>

            (vi) any proceeds and the right to receive proceeds with respect to
      the related Receivables from claims on any physical damage, loss, credit
      life or disability insurance policies, if any, covering Financed Vehicles
      or Obligors, including rebates of insurance premiums relating to the
      Receivables and any proceeds from the liquidation of such Receivables;

            (vii) all items contained in the Receivables Files with respect to
      such Receivables and any and all other documents that Seller or Master
      Servicer keeps on file in accordance with its customary procedures
      relating to the related Receivables, or the related Financed Vehicles or
      Obligor;

            (viii) property (including the right to receive future Net
      Liquidation Proceeds) that secures each related Receivable and that has
      been acquired by or on behalf of HARC pursuant to liquidation of such
      Receivable;

            (ix) all present and future claims, demands, causes and choses in
      action in respect of any or all of the foregoing and all payments on or
      under and all proceeds of every kind and nature whatsoever in respect of
      any or all of the foregoing, including all proceeds of the conversion,
      voluntary or involuntary, into cash or other liquid property, all cash
      proceeds, accounts, accounts receivable, notes, drafts, acceptances,
      chattel paper, checks, deposit accounts, insurance proceeds, condemnation
      awards, rights to payment of any and every kind and other forms of
      obligations and receivables, instruments and other property which at any
      time constitute all or part of or are included in the proceeds of any of
      the foregoing.

            (b) Simultaneously with the conveyance of the Receivables and the
Other Conveyed Property to HARC by Seller, HARC has paid or caused to be paid to
or upon the order of Seller an amount equal to 100% of the Principal Balance of
the Receivables on the books and records of Seller, plus the present value of
anticipated excess spread on such Receivables, discounted to take into account
any uncertainty as to future performance matching historical performance,
servicing fees, delinquencies, pay down rates, yield and such other factors as
may be mutually agreed upon between Seller and HARC, by wire transfer of
immediately available funds.

            (c) In connection with such Conveyance, Seller further agrees that
it will, at its own expense, on or prior to the Purchase Date (i) indicate in
its computer files or microfiche lists that the Receivables have been conveyed
to HARC in accordance with this Agreement and have been conveyed by HARC to the
Indenture Trustee pursuant to the Master Sale and Servicing Agreement for the
benefit of the Noteholders by including in such computer files and microfiche
lists the code identifying each such Receivable and (ii) deliver to HARC (or to
the Indenture Trustee if HARC so directs) a computer file or microfiche list
containing a true and complete list of all such Receivables specifying for each
such Receivable, as of the Cutoff Date (A) its account number and (B) the
outstanding balance of such Receivable. Such computer files or microfiche lists
shall be delivered to HARC (or to the Indenture Trustee if so directed by HARC)
and marked as proprietary and confidential. Seller further agrees not to alter
the code referenced in


                                       4
<PAGE>

clause (i) of this paragraph with respect to any Receivable during the term of
this Agreement.

            (d) The parties hereto intend that the conveyance of the Seller's
right, title and interest in and to the Receivables and Other Conveyed Property
shall constitute a sale, conveying good title free and clear of any liens,
claims, encumbrances or rights of others from Seller to HARC and that the
Receivables and Other Conveyed Property shall not be part of Seller's estate in
the event of the insolvency of Seller or a conservatorship, receivership or
similar event with respect to Seller. It is the intention of the parties hereto
that the arrangements with respect to the Receivables and Other Conveyed
Property shall constitute a purchase and sale of such Receivables and not a
loan. In the event, however, that a court of competent jurisdiction were to hold
that the transactions evidenced hereby constitute a loan and not a purchase and
sale, it is the intention of the parties hereto that this Agreement shall
constitute a security agreement under applicable law, and that Seller shall be
deemed to have granted to HARC a first priority perfected security interest in
all of such Seller's right, title and interest in and to the Receivables and
Other Conveyed Property.

                                   ARTICLE III

                         REPRESENTATIONS AND WARRANTIES

            SECTION 3.1 Representations and Warranties of Seller. Seller makes
the following representations and warranties as of the date hereof on which HARC
relies in purchasing the Receivables and the Other Conveyed Property and in
transferring the Receivables and the Other Conveyed Property to the Issuer under
the Master Sale and Servicing Agreement. Such representations are made as of the
execution and delivery of this Agreement and as to Receivables and Other
Conveyed Property conveyed thereunder, as of the execution and delivery of each
Receivables Purchase Agreement Supplement, but shall survive the sale, transfer
and assignment of the Receivables and the Other Conveyed Property hereunder, and
the sale, transfer and assignment thereof by HARC to the Issuer under the Master
Sale and Servicing Agreement. Seller and HARC agree that HARC will assign to
Issuer all HARC's rights under this Agreement and each Receivables Purchase
Agreement Supplement and that the Indenture Trustee will thereafter be entitled
to enforce this Agreement and each Receivables Purchase Agreement Supplement
against Seller in the Indenture Trustee's own name on behalf of the
Securityholders.

            (a) Eligibility Criteria. Each of the Receivables which is to be
pledged as collateral for a Series of Notes will satisfy the applicable
Eligibility Criteria set forth in, or to be set forth in, Schedule I to the
Series Supplement establishing such Series.

            (b) Organization and Good Standing. The Seller is a federal savings
bank duly organized and validly existing in good standing under the laws of the
United States of America and has, in all material respects, full power and
authority to own its properties and conduct its business as such properties are
presently owned and such business is


                                       5
<PAGE>

presently conducted, and to execute, deliver and perform its obligations under
this Agreement.

            (c) Due Obligation. The Seller is duly qualified to do business and
is in good standing as a foreign corporation (or is exempt from such
requirements) and has obtained all necessary licenses and approvals, in each
jurisdiction in which failure to so qualify or to obtain such licenses and
approvals would (i) render any Receivable unenforceable by the Seller, HARC or
the Trust and (ii) have a material adverse effect on the Noteholders.

            (d) Due Authorization. The execution, delivery and performance of
this Agreement and any other document or instrument delivered pursuant hereto
(such other documents and instruments, including, but not limited to, the
Receivables Purchase Agreement Supplement collectively, the "Conveyance Papers")
and the consummation of the transactions provided for in this Agreement or any
other Conveyance Papers have been duly authorized by all necessary action on the
part of the Seller and constitute or will constitute the legal, valid and
binding obligation of the Seller, enforceable in accordance with their terms,
except for the rights and remedies of creditors or thrifts, savings institutions
or national banking associations from time to time in effect, or as limited by
the powers of the Federal Deposit Insurance Company in its capacity as receiver
or conservator under the Federal Deposit Insurance Company Act of 1950.

            (e) No Conflict. The execution and delivery of this Agreement and
the Conveyance Papers, the performance of the transactions contemplated by this
Agreement and the Conveyance Papers, and the fulfillment of the terms of this
Agreement and the Conveyance Papers applicable to the Seller will not conflict
with, violate or result in any breach of any of the material terms and
provisions of, or constitute (with or without notice or lapse of time or both) a
material default under, any indenture, contract, agreement, mortgage, deed of
trust, or other instrument to which the Seller is a party or by which it or any
of its properties are bound.

            (f) No Violation. The execution, delivery and performance of this
Agreement and the Conveyance Papers and the fulfillment of the terms
contemplated herein and therein applicable to the Seller will not conflict with
or violate any requirements of law applicable to the Seller.

            (g) No Proceedings. There are no proceedings or investigations
pending or, to the best knowledge of the Seller, threatened against the Seller,
before any court, regulatory body, administrative agency or other tribunal or
governmental instrumentality (i) asserting the invalidity of this Agreement or
the Conveyance Papers, (ii) seeking to prevent the consummation of any of the
transactions contemplated by this Agreement or the Conveyance Papers, (iii)
seeking any determination or ruling that, in the reasonable judgment of the
Seller, would materially and adversely affect the performance by the Seller of
its obligations under this Agreement or the Conveyance Papers, (iv) seeking any
determination or ruling that would materially and adversely affect the validity
or enforceability of this Agreement or the Conveyance Papers or (v) seeking to
affect


                                       6
<PAGE>

adversely the income tax attributes of the Trust under United States Federal,
Nevada or California income tax systems.

            (h) All Consents. All authorizations, consents, orders, approvals,
registrations or declarations with, or of, any Governmental Authority required
to be obtained, effected or given by the Seller in connection with the execution
and delivery by the Seller of this Agreement or the Conveyance Papers and the
performance of the transactions contemplated by this Agreement or the Conveyance
Papers by the Seller have been duly obtained, effected or given and are in full
force and effect.

            SECTION 3.2 Representations and Warranties of HARC. HARC makes the
following representations and warranties, on which Seller relies in selling,
assigning, transferring and conveying the Receivables and the Other Conveyed
Property to HARC hereunder. Such representations are made as of the execution
and delivery of this Agreement and as to Receivables and Other Conveyed Property
conveyed thereunder, as of the execution and delivery of each Receivables
Purchase Agreement Supplement, but shall survive the sale, transfer and
assignment of the Receivables and the Other Conveyed Property hereunder and the
sale, transfer and assignment thereof by HARC to the Issuer under the Master
Sale and Servicing Agreement.

            (a) Organization and Good Standing. HARC is a corporation duly
organized and validly existing under the laws of the State of Nevada and has, in
all material respects, full power and authority to own its properties and
conduct its business as such properties are presently owned and such business is
presently conducted and to execute, deliver and perform its obligations under
this Agreement and the Conveyance Papers.

            (b) Due Authorization. The execution and delivery of this Agreement
and the Conveyance Papers and the consummation of the transactions provided for
in this Agreement and the Conveyance Papers have been duly authorized by HARC by
all necessary corporate action on the part of HARC and constitute or will
constitute the legal, valid and binding obligation of HARC, enforceable in
accordance with the terms, except as enforceability may be limited by
bankruptcy, insolvency, reorganization or other similar laws affecting the
enforcement of creditors' rights generally and by equitable limitations on the
availability of specific remedies, regardless of whether such enforceability is
considered in a proceeding in equity or at law.

            (c) No Conflict. The execution and delivery of this Agreement and
the Conveyance Papers, the performance of the transactions contemplated by this
Agreement and the Conveyance Papers, and the fulfillment of the terms hereof and
thereof, will not conflict with, result in any breach of any of the material
terms and provisions of, or constitute (with or without notice or lapse of time
or both) a material default under, any indenture, contract, agreement, mortgage,
deed of trust or other instrument to which HARC is a party or by which it or its
properties is bound.

            (d) No Violation. The execution, delivery and performance of this
Agreement and the Conveyance Papers by HARC and the fulfillment of the terms


                                       7
<PAGE>

contemplated herein and therein applicable to HARC will not conflict with or
violate any requirements of law applicable to HARC.

            (e) No Proceeding. There are no proceedings or investigations
pending or, to the best knowledge of HARC, threatened against HARC, before any
court, regulatory body, administrative agency, or other tribunal or governmental
instrumentality (i) asserting the invalidity of this Agreement or the Conveyance
Papers, (ii) seeking to prevent the consummation of any of the transactions
contemplated by this Agreement or the Conveyance Papers, (iii) seeking any
determination or ruling that, in the reasonable judgment of HARC, would
materially and adversely affect the performance by HARC of its obligations under
this Agreement or the Conveyance Papers or (iv) seeking any determination or
ruling that would materially and adversely affect the validity or enforceability
of this Agreement or the Conveyance Papers.

            (f) All Consents. All authorizations, consents, orders or approvals
of or registrations or declarations with any Governmental Authority required to
be obtained, effected or given by HARC in connection with the execution and
delivery by HARC of this Agreement and the Conveyance Papers and the performance
of the transactions contemplated by this Agreement and the Conveyance Papers or
the fulfillment of the terms of this Agreement and the Conveyance Papers by HARC
have been duly obtained.

            In the event of any breach of a representation and warranty made by
HARC hereunder, Seller covenants and agrees that it will not take any action to
pursue any remedy that it may have hereunder, in law, in equity or otherwise,
until a year and a day have passed since the date on which all Notes and
Certificates issued by the Trust, have been paid in full. Seller and HARC agree
that damages will not be an adequate remedy for such breach and that this
covenant may be specifically enforced by HARC, Issuer or by the Indenture
Trustee on behalf of the Noteholders and Owner Trustee on behalf of the
Certificateholders. Seller agrees that with respect to its obligations in
connection with a Repurchase Event it will exercise no rights of offset with
respect to any claims it may have against HARC.

                                   ARTICLE IV

                               COVENANTS OF SELLER

            SECTION 4.1 Seller's Covenants. Seller hereby covenants and agrees
with HARC as follows:

            (a) Receivables Not To Be Evidenced by Promissory Notes. Seller will
take no action to cause any Receivable to be evidenced by any instrument (as
defined in the UCC).

            (b) Security Interests. Except for the conveyances hereunder or as
otherwise provide herein, Seller will not sell, pledge, assign or transfer to
any other Person, or take any other action inconsistent with HARC's ownership of
the Receivables or grant, create, incur, assume or suffer to exist any Lien on
any Receivable, whether now


                                       8
<PAGE>

existing or hereafter created, or any interest therein, and Seller shall not
claim any ownership interest in the Receivables and shall defend the right,
title and interest of HARC in and to the Receivables, whether now existing or
hereafter created, against all claims of third parties claiming through or under
Seller.

            (c) Security's Interest. Except for the conveyances hereunder and in
connection with any transaction permitted pursuant to Section 6.6, Seller hereby
agrees not to transfer, assign, exchange or otherwise convey or pledge,
hypothecate or otherwise grant a security interest in the Receivables and any
such attempted transfer, assignment, exchange, conveyance, pledge, hypothecation
or grant shall be void.

            (d) Delivery of Collections or Recoveries. In the event that Seller
receives collections or recoveries with respect to the Receivables, Seller
agrees to pay to HARC (or to the Master Servicer if HARC so directs) all such
collections and recoveries to the extent such amounts are payable to HARC as
soon as practicable after receipt thereof.

            (e) Notice of Liens. The Seller shall notify HARC promptly after
becoming aware of any Lien on any Receivable other than the conveyances
hereunder.

            (f) Documentation of Transfer. The Seller shall undertake to file
the documents which would be necessary to perfect and maintain the transfer of
the security interest in and to the Receivables and Other Conveyed Assets.

            (g) Approval of Office Records. Seller shall cause this Agreement to
be duly approved by Seller's Board of Directors, and Seller shall maintain the
Agreement as a part of the official records of Seller for the term of the
Agreement.

                                    ARTICLE V

                                   REPURCHASES

            SECTION 5.1 Repurchase of Receivables Upon Breach of Warranty. Upon
the occurrence of a Repurchase Event, Seller shall, unless the breach which is
the subject of such Repurchase Event shall have been cured in all material
respects, repurchase the Receivable relating thereto from the Issuer under the
related Master Sale and Servicing Agreement by the last day of the first full
calendar month following the discovery of such breach by the Seller or receipt
by the Seller of notice of such breach from any of the Master Servicer, HARC, a
Trust Officer of the related Indenture Trustee or the related Owner Trustee and,
simultaneously with the repurchase of the Receivable, Seller shall deposit the
Repurchase Amount in full, without deduction or offset, in the Master Collection
Account, pursuant to Section 3.2 of the related Master Sale and Servicing
Agreement. It is understood and agreed that, except as set forth in Section 6.1
hereof, the obligation of Seller to repurchase any Receivable, as to which a
breach occurred and is continuing, shall, if such obligation is fulfilled,
constitute the sole remedy against Seller for such breach available to HARC, the
related Issuer, the related Noteholders, the related Certificateholders, the
related Indenture Trustee, on behalf of the related Noteholders or the related
Owner Trustee on behalf of the related


                                       9
<PAGE>

Certificateholders. The provisions of this Section 5.1 are intended to grant the
related Indenture Trustee or the related Issuer a direct right against Seller to
demand performance hereunder, and in connection therewith, Seller waives any
requirement of prior demand against HARC with respect to such repurchase
obligation. Any such repurchase shall take place in the manner specified in
Section 3.2 of the related Master Sale and Servicing Agreement. Notwithstanding
any other provision of this Agreement or the related Master Sale and Servicing
Agreement to the contrary, the obligation of Seller under this Section shall not
terminate upon a termination of Household Finance Corporation as Master Servicer
under the related Master Sale and Servicing Agreement and shall be performed in
accordance with the terms hereof notwithstanding the failure of the Master
Servicer or HARC to perform any of their respective obligations with respect to
such Receivable under the related Master Sale and Servicing Agreement.

      SECTION 5.2 Reassignment of Repurchased Receivables. Upon deposit in the
Master Collection Account of the Repurchase Amount of any Receivable repurchased
by Seller under Section 5.1 hereof, HARC and the Issuer shall take such steps as
may be reasonably requested by Seller in order to assign to Seller all of HARC's
and the Issuer's right, title and interest in and to such Receivable and all
security and documents and all Other Conveyed Property conveyed to HARC and the
Issuer directly relating thereto, without recourse, representation or warranty,
except as to the absence of liens, charges or encumbrances created by or arising
as a result of actions of HARC or the Issuer. Such assignment shall be a sale
and assignment outright, and not for security. If, following the reassignment of
a Repurchased Receivable, in any enforcement suit or legal proceeding, it is
held that Seller may not enforce any such Receivable on the ground that it shall
not be a real party in interest or a holder entitled to enforce the Receivable,
HARC shall, at the expense of Seller, take such steps as Seller deems reasonably
necessary to enforce the Receivable, including bringing suit in HARC's or in the
Issuer's name.

      SECTION 5.3 Waivers. No failure or delay on the part of HARC, or the
Issuer as assignee of HARC, in exercising any power, right or remedy under this
Agreement shall operate as a waiver thereof, nor shall any single or partial
exercise of any such power, right or remedy preclude any other or future
exercise thereof or the exercise of any other power, right or remedy.

                                   ARTICLE VI

                                  MISCELLANEOUS

      SECTION 6.1 Liability of Seller. Seller shall be liable in accordance
herewith only to the extent of the obligations in this Agreement specifically
undertaken by Seller and the representations and warranties of Seller.

      SECTION 6.2 Amendment. This Agreement and any Conveyance Papers and the
rights and obligations of the parties hereunder may not be changed orally, but
only by an instrument in writing signed by HARC and the Seller in accordance
with this Section 6.2. This Agreement and any Conveyance Papers may be amended
from time to


                                       10
<PAGE>

time by HARC and the Seller, provided that HARC provides to the Seller (a) an
Officer's Certificate to the effect that HARC reasonably believes that such
amendment will not have an adverse effect upon the interest of the Noteholders
or Certificateholders and (b) an Opinion of Counsel addressed and delivered to
the Seller, dated the date of such amendment, to the effect that the conditions
precedent to any such amendment have been satisfied.

      SECTION 6.3 GOVERNING LAW. THIS AGREEMENT AND THE CONVEYANCE PAPERS SHALL
BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT
REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND
REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH
LAWS.

      SECTION 6.4 Notices. All demands, notices and communications hereunder
shall be in writing and shall be deemed to have been duly given if personally
delivered at or mailed by registered mail, return receipt requested, to (a) in
the case of the Seller, 700 Wood Dale Road, Wood Dale, Illinois 60191,
Attention: Chief Operating Officer, with a copy to 2700 Sanders Road, Prospect
Heights, Illinois 60070 Attention: Director--Asset Securitization, (b) in the
case of HARC, 1111 Town Center Drive, Las Vegas, Nevada 89134 Attention:
Compliance Officer, with a copy to 2700 Sanders Road, Prospect Heights, Illinois
60070, Attention: Treasurer; or, as to each party, at such other address as
shall be designated by such party in a written notice to each other party.

      SECTION 6.5 Severability of Provisions. If any one or more of the
covenants, agreements, provisions, or terms of this Agreement or Conveyance
Paper shall for any reason whatsoever be held invalid, then such covenants,
agreements, provisions, or terms shall be deemed severable from the remaining
covenants, agreements, provisions, and terms of this Agreement or any Conveyance
Paper and shall in no way affect the validity or enforceability of the other
provisions of this Agreement or of any Conveyance Paper.

      SECTION 6.6 Assignment. Notwithstanding anything to the contrary contained
herein, other than HARC's assignment of its rights, title, and interests in, to,
and under this Agreement to the Issuer specified in a Master Sale and Servicing
Agreement (which Issuer shall assign such rights, title and interest in and to
this Agreement to the related Indenture Trustee for the benefit of the related
Noteholders), as contemplated by such Master Sale and Servicing Agreement, the
Receivables, the Other Conveyed Property, this Agreement and all other
Conveyance Papers may not be assigned by the parties hereto; provided, however,
that Seller shall have the right to assign its rights, title and interests, in
to and under this Agreement to (i) any successor by merger or consolidation, or
any Person which acquires by conveyance, transfer or sale the properties and
assets of Seller (ii) any Affiliate owned directly or indirectly by Household
International, Inc. or (iii) to any entity provided that the Rating Agency has
advised HARC and Seller that the Rating Agency Condition has been satisfied. The
right granted in the foregoing proviso is subject to the further condition that
any such successor or other Person shall expressly assume by written agreement,
in form and substance


                                       11
<PAGE>

satisfactory to HARC, the obligations of Seller hereunder and under the
Conveyance Papers.

      SECTION 6.7 Acknowledgment and Agreement of Seller. By execution below,
Seller expressly acknowledges and agrees that all of HARC's right, title, and
interest in, to, and under this Agreement, including, without limitation, all of
HARC's right title, and interest in and to the Receivables purchased pursuant to
this Agreement, shall be assigned by HARC to an Issuer specified in a Master
Sale and Servicing Agreement and by such Issuer to the related Indenture Trustee
for the benefit of the related Noteholders, and Seller consents to such
assignment. Additionally, Seller agrees for the benefit of such Indenture
Trustee that any amounts payable by Seller to HARC hereunder which are to be
paid by HARC to such Indenture Trustee for the benefit of the related
Noteholders shall be paid by Seller, on behalf of HARC, directly to such
Indenture Trustee. Any payment required to be made on or before a specified date
in same-day funds may be made on the prior business day in next-day funds.

      SECTION 6.8 Further Assurances. HARC and Seller agree to do and perform,
from time to time, any and all acts and to execute any and further instruments
required or reasonably requested by the other party more fully to effect the
purposes of this Agreement and the Conveyance Papers, including, without
limitation, the execution of any financing statements or continuation statements
or equivalent documents relating to the Receivables for filing under the
provisions of the UCC or other law of any applicable jurisdiction.

      SECTION 6.9 No Waiver; Cumulative Remedies. No failure to exercise and no
delay in exercising, on the part of HARC or Seller, any right, remedy, power or
privilege hereunder, shall operate as a waiver thereof; nor shall any single or
partial exercise of any right, remedy, power or privilege hereunder preclude any
other or further exercise thereof or the exercise of any other right, remedy,
power or privilege. The rights, remedies, powers and privileges herein provided
are cumulative and not exhaustive of any rights, remedies, powers and privileges
provided by law.

      SECTION 6.10 Counterparts. This Agreement and all Conveyance Papers may be
executed in two or more counterparts (and by different parties on separate
counterparts), each of which shall be an original, but all of which together
shall constitute one and the same instrument.

      SECTION 6.11 Binding Effect; Third-Party Beneficiaries. This Agreement and
the Conveyance Papers will inure to the benefit of and be binding upon the
parties hereto and their respective successors and permitted assigns. Each
Indenture Trustee and Issuer with respect to a Master Sale and Servicing
Agreement shall be considered a third-party beneficiary of this Agreement.

      SECTION 6.12 Merger and Integration. Except as specifically stated
otherwise herein, this Agreement and the Conveyance Papers set forth the entire
understanding of the parties relating to the subject matter hereof, and all
prior understandings, written or oral, are superseded by this Agreement and the
Conveyance Papers. This Agreement and the Conveyance Papers may not be modified,
amended, waived or supplemented except as provided herein.


                                       12
<PAGE>

      SECTION 6.13 Heading. The headings are for purposes of reference only and
shall not otherwise affect the meaning or interpretation of any provision
hereof.

      SECTION 6.14 Schedules and Exhibits. The schedules and exhibits attached
hereto and referred to herein shall constitute a part of this Agreement and are
incorporated into this Agreement for all purposes.

      SECTION 6.15 Survival of Representations and Warranties. All
representations, warranties and agreements contained in this Agreement or
contained in any Conveyance Paper, shall remain operative and in full force and
effect and shall survive conveyance of the Receivables by HARC to the Issuer
pursuant to the Master Sale and Servicing Agreement.

      SECTION 6.16 Nonpetition Covenant. Until the date which is one year and
one day after payment in full of all the Notes of all Series, neither HARC nor
Seller shall petition or otherwise invoke the process of any court or government
authority for the purpose of commencing or sustaining a case against HARC,
Seller or the Issuer under any Federal or state bankruptcy, insolvency or
similar law or appointing a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official of HARC, Seller or the Issuer or any
substantial part of their respective properties, or ordering the winding up or
liquidation of the affairs of HARC, Seller or the Issuer. This provision shall
survive the termination of this Agreement.

                            [Signature Page Follows]


                                       13
<PAGE>

      IN WITNESS WHEREOF, the parties have caused this Master Receivables
Purchase Agreement to be duly executed by their respective officers as of the
day and year first above written.

                                        [NAME OF SELLER],
                                              as Seller

                                        By:
                                           -------------------------------------
                                           Name:
                                           Title:


                                        HOUSEHOLD AUTO RECEIVABLES CORPORATION,
                                              as Purchaser

                                        By:
                                           -------------------------------------
                                           Name:
                                           Title:

           [Signature Page for Master Receivables Purchase Agreement]


                                       14
<PAGE>

                                                                       EXHIBIT A

                FORM OF RECEIVABLES PURCHASE AGREEMENT SUPPLEMENT

            Transfer No.__ of Receivables, dated as of ___________________,
pursuant to a Master Receivables Purchase Agreement (the "Purchase Agreement")
dated as of ____________________, between [Name of Seller], a
___________________ (the "Seller") and Household Auto Receivables Corporation, a
Nevada corporation ("HARC").

                              W I T N E S S E T H :

            WHEREAS pursuant to the Purchase Agreement, the Seller wishes to
convey Receivables and Other Conveyed Property to HARC; and

            WHEREAS, HARC is willing to accept such conveyance subject to the
terms and conditions hereof.

            NOW, THEREFORE, the Seller and HARC hereby agree as follows:

            1. Defined Terms. Capitalized terms used herein shall have the
meanings ascribed to them in the Purchase Agreement unless otherwise defined
herein.

            "Cutoff Date" shall mean with respect to the Receivables conveyed
hereby, _______________________.

            "Purchase Date" shall mean with respect to the Receivables conveyed
hereby, _______________________.

            "Purchase Price" shall mean 100% of the Principal Balance of the
Receivables on the books and records of Seller, plus the present value of
anticipated excess spread on such Receivables, discounted to take into account
any uncertainty as to future performance matching historical performance,
servicing fees, delinquencies, paydown rates, yield and such other factors as
may be mutually agreed upon by Seller and HARC.

            2. Schedule of Receivables. Annexed as Schedule A hereto is a
computer tape which reflects the Receivables that constitute the Receivables to
be conveyed pursuant to this Agreement on the Purchase Date.

            3. Conveyance of Receivables. In consideration of HARC's delivery to
or upon the order of Seller of the Purchase Price, Seller does hereby sell,
transfer, assign, set over and otherwise convey to HARC, without recourse
(except as expressly provided in the Purchase Agreement), all right, title and
interest of Seller in and to:


                                      A-1
<PAGE>

            (i) each and every Receivable listed on Schedule A hereto and all
      monies paid or payable thereon or in respect thereof on or after the
      related Cutoff Date (including amounts due on or before the related Cutoff
      Date but received by Seller on or after such date);

            (ii) the security interests in the related Financed Vehicles granted
      by Obligors pursuant to such Receivables and any other interest of Seller
      in such Financed Vehicles;

            (iii) all rights of Seller against Dealers pursuant to Dealer
      Agreements or Dealer Assignments or Unaffiliated Originator Receivables
      Purchase Agreements related to such Receivables;

            (iv) any proceeds and the right to receive proceeds with respect to
      such Receivables repurchased by either (i) a Dealer, pursuant to a Dealer
      Agreement or (ii) an Unaffiliated Originator, pursuant to an Unaffiliated
      Originator Receivables Purchase Agreement, as a result of a breach of
      representation or warranty in the related Dealer Agreement or Unaffiliated
      Originator Receivables Purchase Agreement, as applicable;

            (v) all rights of Seller under any Service Contracts on the related
      Financed Vehicles;

            (vi) any proceeds and the right to receive proceeds with respect to
      the related Receivables from claims on any physical damage, loss, credit
      life or disability insurance policies, if any, covering Financed Vehicles
      or Obligors, including rebates of insurance premiums relating to the
      Receivables and any proceeds from the liquidation of such Receivables;

            (vii) all items contained in the Receivables Files with respect to
      such Receivables and any and all other documents that Seller or Master
      Servicer keeps on file in accordance with its customary procedures
      relating to the related Receivables, or the related Financed Vehicles or
      Obligor;

            (viii) property (including the right to receive future Net
      Liquidation Proceeds) that secures each related Receivable and that has
      been acquired by or on behalf of HARC pursuant to liquidation of such
      Receivable;

            (ix) all present and future claims, demands, causes and chooses in
      action in respect of any or all of the foregoing and all payments on or
      under and all proceeds of every kind and nature whatsoever in respect of
      any or all of the foregoing, including all proceeds of the conversion,
      voluntary or involuntary, into cash or other liquid property, all cash
      proceeds, accounts, accounts receivable, notes, drafts, acceptances,
      chattel paper, checks, deposit accounts, insurance proceeds, condemnation
      awards, rights to payment of any and every kind and other forms of
      obligations and receivables, instruments and other property which at any
      time constitute all or part of or are included in the proceeds of any of
      the foregoing.


                                      A-2
<PAGE>

            4. Representations and Warranties of Seller. As of the Purchase
Date, Seller hereby makes the representations and warranties to HARC that are
set forth in Section 3.1 of the Purchase Agreement with respect to the
Conveyance effected hereby to the same extent as if set forth in full herein.

            5. Representations and Warranties of HARC. As of the Purchase Date,
HARC hereby makes the representations and warranties to Seller that are set
forth in Section 3.2 of the Purchase Agreement with respect to the Conveyance
effected hereby to the same extent as if set forth in full herein. In the event
of any breach of a representation and warranty made by HARC hereunder, Seller
covenants and agrees that it will not take any action to pursue any remedy that
it may have hereunder, in law, in equity or otherwise, until a year and a day
have passed since the date on which all Notes and Certificates issued by the
Trust have been paid in full. Seller and HARC agree that damages will not be an
adequate remedy for such breach and that this covenant may be specifically
enforced by HARC, Issuer or by the Indenture Trustee on behalf of the
Noteholders and Owner Trustee on behalf of the Certificateholders.

            6. Conditions Precedent. The obligation of HARC to acquire the
Receivables hereunder is subject to the satisfaction, on or prior to the
Purchase Date, of the following conditions precedent:

            (a) Representations and Warranties. Each of the representations and
warranties made by the Seller in Section 4 of this Agreement and in Section 3.1
of the Master Receivables Purchase Agreement shall be true and correct as of the
date of this Agreement and as of the Purchase Date.

            (b) Additional Information. Seller shall have delivered to HARC such
information as was reasonably requested by HARC to satisfy itself as to (i) the
accuracy of the representations and warranties set forth in Section 4 of this
Agreement and in Section 3.1 of the Master Receivables Purchase Agreement and
(ii) the satisfaction of the conditions set forth in this Section.

            7. Ratification of Agreement. As supplemented by this Agreement, the
Master Receivables Purchase Agreement is in all respects ratified and confirmed
and the Master Receivables Purchase Agreement as so supplemented by this
Agreement shall be read, taken and construed as one and the same instrument.

            8. Counterparts. This Agreement may be executed in two or more
counterparts (and by different parties in separate counterparts), each of which
shall be an original but all of which together shall constitute one and the same
instrument.

            9. Conveyance of the Receivables and the Other Conveyed Property to
the Issuer. Seller acknowledges that HARC intends, pursuant to the Master Sale
and Servicing Agreement, to convey the Receivables and the Other Conveyed
Property, together with its rights under this Agreement, to the Issuer on the
Transfer Date. Seller acknowledges and consents to such conveyance and pledge
and waives any further notice


                                      A-3
<PAGE>

thereof and covenants and agrees that the representations and warranties of
Seller contained in this Agreement and the rights of HARC hereunder are intended
to benefit the Issuer, the Owner Trustee, the Noteholders and the
Certificateholders. In furtherance of the foregoing, Seller covenants and agrees
to perform its duties and obligations hereunder, in accordance with the terms
hereof for the benefit of the Issuer, the Owner Trustee, the Indenture Trustee
and the Noteholders and that, notwithstanding anything to the contrary in this
Agreement, Seller shall be directly liable to the Issuer, the Owner Trustee, the
Indenture Trustee and the Noteholders (notwithstanding any failure by the Master
Servicer or HARC to perform their respective duties and obligations hereunder or
under Basic Documents) and that the Indenture Trustee may enforce the duties and
obligations of Seller under this Agreement against Seller for the benefit of the
Noteholders and the Owner Trustee.

            10. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW
PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.


                                      A-4
<PAGE>

            IN WITNESS WHEREOF, the Seller and HARC have caused this Purchase
Agreement to be duly executed and delivered by their respective duly authorized
officers as of day and the year first above written.

                                        [NAME OF SELLER],
                                              as Seller

                                        By:
                                           -------------------------------------
                                           Name:
                                           Title:


                                        HOUSEHOLD AUTO RECEIVABLES CORPORATION,
                                              as Purchaser

                                        By:
                                           -------------------------------------
                                           Name:
                                           Title:


                                      A-5
<PAGE>

                                   SCHEDULE A

                             SCHEDULE OF RECEIVABLES

                                 (COMPUTER TAPE)