| **AMERICAN HONDA FINANCE CORPORATION**                                                                                    |
|---------------------------------------------------------------------------------------------------------------------------|
| Annual Statement to Certificateholder****-- Honda Auto Receivables 2002-3 Owner Trust                                     |
| **04/01/2002  through  03/31/2003**                                                                             |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **I. ORIGINAL DEAL PARAMETER INPUTS**                                                                                     |  |  |  |  |  |  |
|   (A) Total Portfolio Balance                                                                              |  |  |  |  | $1,030,000,000.95 |  |
|   (B) Total Securities Balance                                                                             |  |  |  |  | $1,030,000,000.95 |  |
|   (C) Class A-1 Notes                                                                                      |  |  |  |  |   |  |
|     (i)   Class A-1 Notes Balance                                                           |  |  |  |  | $285,500,000.00 |  |
|     (ii)  Class A-1 Notes Percentage (C(i)/IB)                                              |  |  |  |  | 27.72% |  |
|     (iii) Class A-1 Notes Rate                                                                   |  |  |  |  | 1.82250% |  |
|     (iv) Class A-1 Notes Accrual Basis                                                 |  |  |  |  | Actual/360 |  |
|   (D) Class A-2 Notes                                                                                           |  |  |  |  |   |  |
|     (i)   Class A-2 Notes Balance                                                      |  |  |  |  | $261,000,000.00 |  |
|     (ii)  Class A-2 Notes Percentage (D(i)/IB)                                              |  |  |  |  | 25.34% |  |
|     (iii) Class A-2 Notes Rate                                                                   |  |  |  |  | 2.260% |  |
|     (iv) Class A-2 Notes Accrual Basis                                                      |  |  |  |  | 30/360 |  |
|   (E) Class A-3 Notes                                                                                           |  |  |  |  |   |  |
|     (i)   Class A-3 Notes Balance                                                      |  |  |  |  | $290,000,000.00 |  |
|     (ii)  Class A-3 Notes Percentage (E(i)/B)                                               |  |  |  |  | 28.16% |  |
|     (iii) Class A-3 Notes Rate                                                                   |  |  |  |  | 3.000% |  |
|     (iv) Class A-3 Notes Accrual Basis                                                           |  |  |  |  | 30/360 |  |
|   (F) Class A-4 Notes                                                                                           |  |  |  |  |   |  |
|     (i)   Class A-4 Notes Balance                                                      |  |  |  |  | $167,750,000.00 |  |
|     (ii)  Class A-4 Notes Percentage (F(i)/B)                                               |  |  |  |  | 16.29% |  |
|     (iii) Class A-4 Notes Rate                                                                   |  |  |  |  | 3.610% |  |
|     (iv) Class A-4 Notes Accrual Basis                                                           |  |  |  |  | 30/360 |  |
|   (G) Certificates                                                                                              |  |  |  |  |   |  |
|     (i)   Certificates Balance                                                         |  |  |  |  | $25,750,000.95 |  |
|     (ii)  Certificates Percentage (G(i)/B)                                                  |  |  |  |  | 2.50% |  |
|     (iii) Certificates Rate                                                                      |  |  |  |  | 3.610% |  |
|     (iv) Certificates Accrual Basis                                                              |  |  |  |  | 30/360 |  |
|   (H) Servicing Fee Rate                                                                                        |  |  |  |  | 1.00% |  |
|   (I) Portfolio Summary                                                                                         |  |  |  |  |   |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  |  |  | 5.66% |  |
|     (ii)  Weighted Average Original Maturity (WAOM)                                         |  |  |  |  | 54.76 | months |
|     (iii) Weighted Average Remaining Maturity (WAM)                                              |  |  |  |  | 47.92 | months |
|     (iv) Number of Receivables                                                                   |  |  |  |  | 72,595 |  |
|   (J) Reserve Account                                                                                           |  |  |  |  |  |  |
|     (i)   Reserve Account Initial Deposit Percentage                                   |  |  |  |  | 0.50% |  |
|     (ii)  Reserve Account Initial Deposit                                                   |  |  |  |  | $5,150,000.00 |  |
|     (iii) Specified Reserve Account Percentage                                                        |  |  |  |  | 0.50% |  |
|     (iv) Specified Reserve Account Balance                                                            |  |  |  |  | $5,150,000.00 |  |
|                                                                                                                           |  |  |  |  |   |  |
|   (K) Yield Supplement Account Deposit                                                                     |  |  |  |  | $3,190,977.35 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **II. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS**                                                                     |  |  |  |  |  |  |
|   (A) Total Portfolio Balance                                                                              |  |  |  |  | $1,030,000,000.95 |  |
|   (B) Total Securities Balance                                                                             |  |  |  |  | $1,030,000,000.95 |  |
|   (C) Cumulative Note and Certificate Pool Factor                                                          |  |  |  |  | 1.0000000 |  |
|   (D) Class A-1 Notes                                                                                      |  |  |  |  |   |  |
|     (i)   Class A-1 Notes Balance                                                      |  |  |  |  | $285,500,000.00 |  |
|     (ii)  Class A-1 Notes Pool Factor                                                       |  |  |  |  | 1.0000000 |  |
|     (iii) Class A-1 Notes Interest Carryover Shortfall                                           |  |  |    |  | $0.00 |  |
|     (iv) Class A-1 Notes Principal Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|   (E) Class A-2 Notes                                                                                      |  |  |  |  |   |  |
|     (i)   Class A-2 Notes Balance                                                      |  |  |  |  | $261,000,000.00 |  |
|     (ii)  Class A-2 Notes Pool Factor                                                       |  |  |  |  | 1.0000000 |  |
|     (iii) Class A-2 Notes Interest Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|     (iv) Class A-2 Notes Principal Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|   (F) Class A-3 Notes                                                                                           |  |  |  |  |   |  |
|     (i)   Class A-3 Notes Balance                                                      |  |  |  |  | $290,000,000.00 |  |
|     (ii)  Class A-3 Notes Pool Factor                                                       |  |  |  |  | 1.0000000 |  |
|     (iii) Class A-3 Notes Interest Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|     (iv) Class A-3 Notes Principal Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|   (G) Class A-4 Notes                                                                                           |  |  |  |  |   |  |
|     (i)   Class A-4 Notes Balance                                                      |  |  |  |  | $167,750,000.00 |  |
|     (ii)  Class A-4 Notes Pool Factor                                                       |  |  |  |  | 1.0000000 |  |
|     (iii) Class A-4 Notes Interest Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|     (iv) Class A-4 Notes Principal Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|   (H) Certificates                                                                                              |  |  |  |  |   |  |
|     (i)   Certificates Balance                                                         |  |  |  |  | $25,750,000.95 |  |
|     (ii)  Certificates Pool Factor                                                          |  |  |  |  | 1.0000000 |  |
|     (iii) Certificates Interest Carryover Shortfall                                              |  |  |  |  | $0.00 |  |
|     (iv) Certificates Principal Carryover Shortfall                                              |  |  |  |  | $0.00 |  |
|   (I) Servicing Fee                                                                                             |  |  |  |  |   |  |
|     (i)   Servicing Fee Shortfall                                                      |  |  |  |  | $0.00 |  |
|   (J) End of Prior Month Account Balances                                                                       |  |  |  |  |   |  |
|     (i)   Reserve Account                                                              |  |  |  |  | $5,150,000.00 |  |
|     (ii)   Yield Supplement Account                                                    |  |  |  |  | $3,190,977.35 |  |
|     (iii) Payahead Account                                                                            |  |  |  |  | $67,865.70 |  |
|     (iv) Advances Outstanding                                                                         |  |  |  |  | $86,043.70 |  |
|   (K) Portfolio Summary as of End of Prior Year                                                                 |  |  |  |  |   |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  |  |  | 5.66% |  |
|     (ii)  Weighted Average Remaining Maturity (WAM)                                         |  |  |  |  | 47.92 | months |
|     (iii) Number of Receivables                                                                  |  |  |  |  | 72,595 |  |
|   (L) Note and Certificate Percentages                                                                          |  |  |  |  |   |  |
|     (i)   Note Percentage                                                              |  |  |  |  | 100.00% |  |
|     (ii)  Certificate Percentage                                                                 |  |  |  |  | 0.00% |  |
|                                                                                                                           |  |  |  |  |  |  |
| **III. INPUTS FROM THE MAINFRAME**                                                                                        |  |  |  |  |  |  |
|   (A) Precomputed Contracts Principal                                                                      |  |  |  |  |  |  |
|     (i)   Scheduled Principal Collections                                              |  |  |  |  | $5,002,083.27 |  |
|     (ii)  Prepayments in Full                                                               |  |  |  |  | $1,414,472.94 |  |
|     (iii) Prepayments in Full due to Repurchases                                                 |  |  |  |  | $0.00 |  |
|   (B) Precomputed Contracts Total Collections                                                              |  |  |  |  | $6,845,477.91 |  |
|   (C) Precomputed Interest Receivables Interest (B-A((I)+(ii)+(iii)))                                 |  |  |  |  | $428,921.70 |  |
|   (D) Simple Interest Receivables Principal                                                                |  |  |  |  |  |  |
|     (i)   Principal Collections                                                        |  |  |  |  | $193,445,850.57 |  |
|     (ii)  Prepayments in Full                                                               |  |  |  |  | $79,075,983.01 |  |
|     (iii) Repurchased Receivables Related to Principal                                           |  |  |  |  | $0.00 |  |
|   (E) Simple Interest Receivables Interest                                                                      |  |  |  |  |   |  |
|     (i)   Simple Interest Collections                                                  |  |  |  |  | $37,865,085.85 |  |
|   (F) Payment Advance for Precomputes                                                                      |  |  |  |  |   |  |
|     (i) Reimbursement of Previous Advances                                                       |  |  |  |  | $270,593.45 |  |
|     (ii) Current Advance Amount                                                                  |  |  |  |  | $318,169.12 |  |
|   (G) Interest Advance for simple Interest - Net                                                           |  |  |  |  | $398,441.50 |  |
|   (H) Payahead Account                                                                                          |  |  |  |  |   |  |
|     (i)  Payments Applied                                                                   |  |  |  |  | $341,144.81 |  |
|     (ii) Additional Payaheads                                                                         |  |  |  |  | $330,532.49 |  |
|   (I) Portfolio Summary as of End of Month                                                                      |  |  |  |  |   |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  |  |  | 5.63% |  |
|     (ii)  Weighted Average Remaining Maturity (WAM)                                         |  |  |  |   | 40.13 | months |
|     (iii) Remaining Number of Receivables                                                        |  |  |  |  | 63,450 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |
|   (J) Delinquent Receivables                                                                                    |  | #  Units |  |  | Dollar Amount |  |
|     (i)  31-60 Days Delinquent                                                              | 1,422 |  | 2.24% | $17,091,127.82 |  | 2.30% |
|     (ii)  61-90 Days Delinquent                                                             | 213 |  | 0.34% | $2,261,542.96 |  | 0.30% |
|     (ii) 91 Days or More Delinquent                                                              | 43 |  | 0.07% | $443,549.73 |  | 0.06% |
|   (K) Vehicles Repossessed During Collection Period                                                             | 74 |  | 0.12% | $980,319.15 |  | 0.13% |
|   (L) Total Accumulated Repossessed Vehicles in Inventory                                                       | 162 |  | 0.26% | $2,001,388.29 |  | 0.27% |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **IV. INPUTS DERIVED FROM OTHER SOURCES**                                                                                 |  |  |  |  |  |  |
|   (A) Collection Account Investment Income                                                                      |  |  |  |  | $0.00 |  |
|   (B) Reserve Account Investment Income                                                                         |  |  |  |  | $51,320.25 |  |
|   (C) Yield Supplement Account Investment Income                                                                |  |  |  |  | $24,901.02 |  |
|   (D) Trust Fees Expense                                                                                        |  |  |  |  | $11,500.00 |  |
|   (E) Aggregate Net Losses for Collection Period                                                           |  |  |  |  | $4,388,506.95 |  |
|   (F) Liquidated Receivables Information                                                                        |  |  |  |  |   |  |
|     (i) Gross Principal Balance on Liquidated Receivables                                             |  |  |  |  | $6,453,469.77 |  |
|     (ii) Liquidation Proceeds                                                                    |  |  |  |  | 1,481,451.58 |  |
|     (ii) Recoveries from Prior Month Charge Offs                                                 |  |  |  |  | $583,511.24 |  |
|   (G) Days in Accrual Period                                                                                    |  |  |  |  | 268 |  |
|   (H) Deal age                                                                                                  |  |  |  |  | 9 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **COLLECTIONS**                                                                                                           |
|                                                                                                                           |  |  |  |  |  |  |
| **V. INTEREST COLLECTIONS**                                                                                               |  |  |  |  |  |  |
|   (A) Total Interest Collections  (III(C+E(i)-F(i)+F(ii)+G)                                                |  |  |  |  | $38,740,024.72 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **VI. PRINCIPAL COLLECTIONS **                                                                                       |  |  |  |  |   |  |
|   (A) Principal Payments Received  (III(A((i)+(ii))+(D(i)+(ii)))                                      |  |  |  |  | $278,938,389.79 |  |
|   (B) Liquidation Proceeds  (IV(F(i)))                                                                |  |  |  |  | 1,481,451.58 |  |
|   (C) Repurchased Loan Proceeds Related to Principal  (III(A(iii)+D(iii)))                            |  |  |  |  | 0.00 |  |
|   (D) Recoveries from Prior Month Charge Offs (IV(F(ii)))                                                       |  |  |  |  | 583,511.24 |  |
|   (E) Total Principal Collections   (A+B+C+D)                                                    |  |  |  |  |                            281,003,352.61 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **VII. TOTAL INTEREST AND PRINCIPAL COLLECTIONS  (V(A)+VI(E)) **                                                |  |  |  |  |                            319,743,377.33 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **VIII. YIELD SUPPLEMENT DEPOSIT**                                                                                        |  |  |  |  | $1,667,488.66 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **IX. TOTAL AVAILABLE AMOUNT (VII+VIII) **                                                                           |  |  |  |  |                            321,410,865.99 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **DISTRIBUTIONS**                                                                                                         |
|                                                                                                                           |  |  |  |  |  |  |
| **X. FEE DISTRIBUTIONS**                                                                                                  |  |  |  |  |  |  |
|   (A) Servicing Fee                                                                                        |  |  |  |  |  |  |
|     (i)   Servicing Fee Due  (I(H)/12)(II(B))+(II(H)(i))                               |  |  |  |  | $6,785,076.91 |  |
|     (ii)  Servicing Fee Paid                                                                |  |  |  |  | $6,785,076.91 |  |
|     (iii) Servicing Fee Shortfall                                                           |  |  |  |  | $0.00 |  |
|   (B) Reserve Account Investment Income (IV(B))                                                                 |  |  |  |  |                                    51,320.25 |  |
|   (C) Yield Supplement Account Investment Income  (IV(C))                                                  |  |  |  |  |                                    24,901.02 |  |
|   (D) Trust Fees Expense (IV(D))                                                                                |  |  |  |  |                                    11,500.00 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XI. DISTRIBUTIONS TO NOTEHOLDERS**                                                                                      |  |  |  |  |  |  |
|   (A) Interest                                                                                                  |  |  |  |  |  |  |
|     (i) Class A-1 Notes                                                                               |  |  |  |  |  |  |
|        (a)   Class A-1 Notes Interest Due                               |  |  |  |  | $2,152,939.45 |  |
|        (b)  Class A-1 Notes Interest Paid                                         |  |  |  |  | 2,152,939.45 |  |
|        (c) Class A-1 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (ii) Class A-2 Notes                                                                         |  |  |  |  |   |  |
|        (a)   Class A-2 Notes Interest Due                               |  |  |  |  | $4,325,640.00 |  |
|        (b)  Class A-2 Notes Interest Paid                                         |  |  |  |  | 4,325,640.00 |  |
|        (c) Class A-2 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (iii) Class A-3 Notes                                                                        |  |  |  |  |   |  |
|        (a)   Class A-3 Notes Interest Due                               |  |  |  |  | $6,380,000.00 |  |
|        (b)  Class A-3 Notes Interest Paid                                         |  |  |  |  | 6,380,000.00 |  |
|        (c) Class A-3 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (iv) Class A-4 Notes                                                                         |  |  |  |  |   |  |
|        (a)   Class A-4 Notes Interest Due                               |  |  |  |  | $4,440,901.69 |  |
|        (b)  Class A-4 Notes Interest Paid                                         |  |  |  |  | 4,440,901.69 |  |
|        (c) Class A-4 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (v) Total Note Interest                                                                 |  |  |  |  |   |  |
|        (a)   Total Note Interest Due                                    |  |  |  |  | $17,299,481.14 |  |
|        (b)  Total Note Interest Paid                                              |  |  |  |  | 17,299,481.14 |  |
|        (c) Total Note Interest Shortfall                                               |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund Withdrawn for Note Interest                          |  |  |  |  | $0.00 |  |
| Amount available for distributions after Fees & Interest (IX-(X(A)(ii)-(D))-XI(A)(v)(b))                              |  |  |  |                            297,314,807.94 |  |
|   (B) Principal                                                                                                 |  |  |  |  |  |  |
|     (i) Noteholders' Principal Distribution Amounts                                              |  |  |  |  | $285,391,859.56 |  |
|     (ii) Class A-1 Notes Principal                                                               |  |  |  |  |   |  |
|        (a)   Class A-1 Notes Principal Due                              |  |  |  |  |                            285,391,859.56 |  |
|        (b)  Class A-1 Notes Principal Paid                                        |  |  |  |  | 285,391,859.56 |  |
|        (c) Class A-1 Notes Principal Shortfall                                         |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund drawn                                                     |  |  |  |  | $0.00 |  |
|     (iii) Class A-2 Notes Principal                                                              |  |  |  |  |   |  |
|        (a)   Class A-2 Notes Principal Due                              |  |  |  |  | $0.00 |  |
|        (b)  Class A-2 Notes Principal Paid                                        |  |  |  |  | $0.00 |  |
|        (c) Class A-2 Notes Principal Shortfall                                         |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund drawn                                                     |  |  |  |  | $0.00 |  |
|     (iv) Class A-3 Notes Principal                                                               |  |  |  |  |   |  |
|        (a)   Class A-3 Notes Principal Due                              |  |  |  |  | $0.00 |  |
|        (b)  Class A-3 Notes Principal Paid                                        |  |  |  |  | $0.00 |  |
|        (c) Class A-3 Notes Principal Shortfall                                         |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund drawn                                                     |  |  |  |  | $0.00 |  |
|     (v) Class A-4 Notes Principal                                                                |  |  |  |  |   |  |
|        (a)   Class A-4 Notes Principal Due                              |  |  |  |  | $0.00 |  |
|        (b)  Class A-4 Notes Principal Paid                                        |  |  |  |  | $0.00 |  |
|        (c) Class A-4 Notes Principal Shortfall                                         |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund drawn                                                     |  |  |  |  | $0.00 |  |
|     (vi) Total Notes Principal                                                                   |  |  |  |  |   |  |
|        (a)   Total Notes Principal Due                                  |  |  |  |  | $285,391,859.56 |  |
|        (b)  Total Notes Principal Paid                                            |  |  |  |  | 285,391,859.56 |  |
|        (c) Total Notes Principal Shortfall                                             |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund drawn                                                     |  |  |  |  | $0.00 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **XII. RESERVE FUND DEPOSIT**                                                                                             |  |  |  |  |  |  |
|   Amount available for deposit into reserve account                                                             |  |  |  |  | $11,922,948.38 |  |
|   Amount deposited into reserve Account                                                                         |  |  |  |  | 0.00 |  |
|   Excess Amount Release from Reserve Account                                                                    |  |  |  |  | 0.00 |  |
|   Excess funds available to Certificateholders                                                                  |  |  |  |  | 11,922,948.38 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **XIII. DISTRIBUTIONS TO CERTIFICATEHOLDERS**                                                                             |  |  |  |  |   |  |
|   (A) Interest                                                                                                  |  |  |  |  |   |  |
|      (i)   Certificate Interest Due                                               |  |  |  |  | $681,688.39 |  |
|      (ii)   Certificate Interest Shortfall Beginning Balance                           |  |  |  |  | $0.00 |  |
|      (iii)   Total Certificate Interest Due                                            |  |  |  |  | $681,688.39 |  |
|      (iv)  Certificate Interest Paid                                                        |  |  |  |  | 681,688.39 |  |
|      (v) Certificate Interest Shortfall Ending Balance                                           |  |  |  |  | $0.00 |  |
|   (B) Principal                                                                                                 |  |  |  |  |   |  |
|      (i)   Certificate Principal Due                                              |  |  |  |  | $0.00 |  |
|      (ii)   Certificate Principal Shortfall Beginning Balance                          |  |  |  |  | $0.00 |  |
|      (iii)   Total Certificate Principal Due                                      |  |  |  |  | $0.00 |  |
|      (iv)  Certificate Principal Paid                                                  |  |  |  |  | 0.00 |  |
|      (v) Certificate Principal Shortfall Ending Balance                                          |  |  |  |  | $0.00 |  |
|   (C) Release to Seller                                                                                         |  |  |  |  | $11,241,259.99 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **DISTRIBUTIONS SUMMARY**                                                                                                 |
|                                                                                                                           |  |  |  |  |  |  |
|   (A) Total Collections                                                                                    |  |  |  |  | $321,410,865.99 |  |
|   (B) Service Fee                                                                                               |  |  |  |  | $6,785,076.91 |  |
|   (C) Trustee Fees                                                                                              |  |  |  |  | $11,500.00 |  |
|   (D) Class A1 Amount                                                                                           |  |  |  |  | $287,544,799.01 |  |
|   (E) Class A2 Amount                                                                                           |  |  |  |  | $4,325,640.00 |  |
|   (F) Class A3 Amount                                                                                           |  |  |  |  | $6,380,000.00 |  |
|   (G) Class A4 Amount                                                                                           |  |  |  |  | $4,440,901.69 |  |
|   (H) Amount Deposited into Reserve Account                                                                |  |  |  |  | $0.00 |  |
|   (I) Certificateholders                                                                                        |  |  |  |  | $681,688.39 |  |
|   (J) Release to seller                                                                                         |  |  |  |  | $11,241,259.99 |  |
|   (K) Total amount distributed                                                                                  |  |  |  |  | $321,410,865.99 |  |
|   (L) Amount of Draw from Reserve Account                                                                  |  |  |  |  | 0.00 |  |
|   (M) Excess Amount Released from Reserve Account                                                               |  |  |  |  | 0.00 |  |
|                                                                                                                           |  |  |   |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **PORTFOLIO AND SECURITY SUMMARY**                                                                                        |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XIV. POOL BALANCES AND PORTFOLIO INFORMATION**                                                                          |  |  |  |  |  |  |
|   (A) Balances and Principal Factors                                                                       |  |  | Beginning of Period |  | End of Period |  |
|     (i)    Aggregate Balance of Notes                                             |  |  | $1,004,250,000.00 |  | $718,858,140.44 |  |
|     (ii)   Note Pool Factor                                                            |  |  | 1.0000000 |  | 0.7158159 |  |
|     (iii)  Class A-1 Notes Balance                                                          |  |  | 285,500,000.00 |  | 108,140.44 |  |
|     (iv)   Class A-1 Notes Pool Factor                                                 |  |  | 1.0000000 |  | 0.0003788 |  |
|     (v)    Class A-2 Notes Balance                                                |  |  | 261,000,000.00 |  | 261,000,000.00 |  |
|     (vi)   Class A-2 Notes Pool Factor                                                 |  |  | 1.0000000 |  | 1.0000000 |  |
|     (vii)  Class A-3 Notes Balance                                                          |  |  | 290,000,000.00 |  | 290,000,000.00 |  |
|     (viii) Class A-3 Notes Pool Factor                                                           |  |  | 1.0000000 |  | 1.0000000 |  |
|     (ix)  Class A-4 Notes Balance                                                           |  |  | 167,750,000.00 |  | 167,750,000.00 |  |
|     (x) Class A-4 Notes Pool Factor                                                              |  |  | 0.0000000 |  | 1.0000000 |  |
|     (xi)   Certificates Balance                                                        |  |  | 25,750,000.95 |  | 25,750,000.95 |  |
|     (xii)    Certificates Pool Factor                                             |  |  | 1.0000000 |  | 1.0000000 |  |
|     (xiii)   Total Principal Balance of Notes and Certificates                         |  |  | 1,030,000,000.95 |  | 744,608,141.39 |  |
|                                                                                                                           |  |  |   |  |   |  |
|   (B) Portfolio Information                                                                                     |  |  |   |  |   |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  | 5.66% |  | 5.63% |  |
|     (ii)  Weighted Average Remaining Maturity (WAM)                                    |  |  | 47.92 | months | 40.13 | months |
|     (iii) Remaining Number of Receivables                                                        |  |  | 72,595 |  | 63,450 |  |
|     (iv)  Portfolio Receivable Balance                                                      |  |  | $1,030,000,000.95 |  | $744,608,141.39 |  |
|   (C) Outstanding Advance Amount                                                                                |  |  | $86,043.70 |  | $532,060.87 |  |
|   (D) Outstanding Payahead Balance                                                                              |  |  | $67,865.70 |  | $57,253.38 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **SUMMARY OF ACCOUNTS**                                                                                                   |
|                                                                                                                           |  |  |  |  |  |  |
| **XV. RECONCILIATION OF RESERVE ACCOUNT**                                                                                 |  |  |  |  |  |  |
|   (A) Beginning Reserve Account Balance                                                                    |  |  |  |  | $5,150,000.00 |  |
|   (B) Draws                                                                                                |  |  |  |  | 0.00 |  |
|     (i)   Draw for Servicing Fee                                                       |  |  |  |  | 0.00 |  |
|     (ii)  Draw for Interest                                                                 |  |  |  |  | 0.00 |  |
|     (iii) Draw for Realized Losses                                                               |  |  |  |  | 0.00 |  |
|   (C) Excess Interest Deposited into the Reserve Account                                                   |  |  |  |  | 0.00 |  |
|   (D) Reserve Account Balance Prior to Release                                                             |  |  |  |  | 5,150,000.00 |  |
|   (E) Reserve Account Required Amount                                                                      |  |  |  |  | 5,150,000.00 |  |
|   (F) Final Reserve Account Required Amount                                                                |  |  |  |  | 5,150,000.00 |  |
|   (G) Excess Reserve Account Amount                                                                        |  |  |  |  | 0.00 |  |
|   (H) Ending Reserve Account Balance                                                                       |  |  |  |  | 5,150,000.00 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **XVI. RECONCILIATION OF YIELD SUPPLEMENT ACCOUNT**                                                                       |  |  |  |  |   |  |
|   (A) Beginning Yield Supplement Account Balance                                                                |  |  |  |  | 3,190,977.35 |  |
|   (B) Investment Earnings                                                                                       |  |  |  |  | 24,901.02 |  |
|   (C) Investment Earnings Withdraw                                                                              |  |  |  |  | 24,901.02 |  |
|   (D) Additional Yield Supplement Amounts                                                                       |  |  |  |  | 0.00 |  |
|   (E) Yield Supplement Deposit Amount                                                                           |  |  |  |  | 1,667,488.66 |  |
|   (F) Ending Yield Supplement Account Balance                                                                   |  |  |  |  | 1,523,488.69 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XVII. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY**                                                                       |  |  |  |  |  |  |
|   (A) Liquidated Contracts                                                                                 |  |  |  |  |  |  |
|     (i)   Liquidation Proceeds                                                              |  |  |  |  | $1,481,451.58 |  |
|     (ii) Recoveries on Previously Liquidated Contracts                                           |  |  |  |  | 583,511.24 |  |
|   (B) Aggregate Net Losses for Collection Period                                                           |  |  |  |  | 4,388,506.95 |  |
|   (C) Net Loss Rate for Collection Period (annualized)                                                     |  |  |  |  | 0.49% |  |
|   (D) Cumulative Net Losses for all Periods                                                                |  |  |  |  | 4,388,506.95 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |
|   (E) Delinquent Receivables                                                                               |  | #  Units |  | Dollar Amount |  |  |
|     (i)  31-60 Days Delinquent                                                              | 1,422 |  | 2.24% | $17,091,127.82 |  | 2.30% |
|     (ii)  61-90 Days Delinquent                                                             | 213 |  | 0.34% | $2,261,542.96 |  | 0.30% |
|     (ii) 91 Days or More Delinquent                                                              | 43 |  | 0.07% | $443,549.73 |  | 0.06% |
|                                                                                                                           |  |  |  |  |  |  |
| **XVIII. REPOSSESSION ACTIVITY**                                                                                          |  |  |  |
|                                                                                                                           |  | #  Units |  | Dollar Amount |  |  |
|   (A) Vehicles Repossessed During Collection Period                                                             | 74 |  | 0.12% | $980,319.15 |  | 0.13% |
|   (B) Total Accumulated Repossessed Vehicles in Inventory                                                       | 162 |  | 0.26% | $2,001,388.29 |  | 0.27% |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XIX. TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNT BALANCE**                                                          |  |  |  |  |  |
|   (A) Ratio of Net Losses to the Pool Balance as of Each Collection Period                                      |  |  |  |  |  |  |
|     (i) Second Preceding Collection Period                                                       |  |  |  |  | 1.38% |  |
|     (ii) Preceding Collection Period                                                             |  |  |  |  | 0.94% |  |
|     (iii) Current Collection Period                                                              |  |  |  |  | 1.09% |  |
|     (iv) Three Month Average (Avg(i,ii,iii))                                                     |  |  |  |  | 1.14% |  |
|   (B) Ratio of Balance of Contracts Delinquent 60 Days or More to the Outstanding Balance of Receivables.  |  |  |  |
|     (i) Second Preceding Collection Period                                                       |  |  |  |  | 0.93% |  |
|     (ii) Preceding Collection Period                                                             |  |  |  |  | 0.83% |  |
|     (iii) Current Collection Period                                                              |  |  |  |  | 0.66% |  |
|     (iv) Three Month Average (Avg(i,ii,iii))                                                     |  |  |  |  | 0.80% |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
|   (C) Loss and Delinquency Trigger Indicator                                                               |  |  |  |  | Trigger was not hit. |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| I hereby certify that the servicing report provided is true                                                               |  |  |  |  |  |  |
| and accurate to the best of my knowledge.                                                                                 |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| By:                                                                                                                       |  |  |  |  |  |  |
| **/s/ John I. Weisickle**                                                                                                 |  |  |  |  |  |  |
| **John I. Weisickle, Vice President**                                                                                     |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |