Exhibit 99.1

page 1

AMERICAN HONDA FINANCE CORPORATIONAnnual Statement to Certificateholder – Honda Auto Receivables 2006-3 Owner Trust04/01/06 through 03/31/07

|                                                    |  |  |        |  |  |                   |  |  |        |  |  |        |  |  |        |  |  |                   |  |  |        |
|----------------------------------------------------|--|--|--------|--|--|-------------------|--|--|--------|--|--|--------|--|--|--------|--|--|-------------------|--|--|--------|
| I. ORIGINAL DEAL PARAMETER INPUTS                  |  |  |   |  |  |              |  |  |   |  |  |   |  |  |   |  |  |              |  |  |   |
| (A) Total Portfolio Balance                        |  |  |   |  |  |              |  |  |   |  |  |   |  |  |   |  |  | $1,549,984,457.74 |  |  |   |
| (B) Total Securities Balance                       |  |  |   |  |  | $1,549,984,457.74 |  |  |   |
| (C) Class A-1 Notes                                |  |  |   |  |  |              |  |  |   |
| (i) Class A-1 Notes Balance                        |  |  |   |  |  | $406,000,000.00   |  |  |   |
| (ii) Class A-1 Notes Percentage (C(i)/B)           |  |  |   |  |  | 26.19%            |  |  |   |
| (iii) Class A-1 Notes Rate                         |  |  |   |  |  | 5.34183%          |  |  |   |
| (iv) Class A-1 Notes Accrual Basis                 |  |  |   |  |  | Actual/360        |  |  |   |
| (D) Class A-2 Notes                                |  |  |   |  |  |              |  |  |   |
| (i) Class A-2 Notes Balance                        |  |  |   |  |  | $355,000,000.00   |  |  |   |
| (ii) Class A-2 Notes Percentage (D(i)/B)           |  |  |   |  |  | 22.90%            |  |  |   |
| (iii) Class A-2 Notes Rate                         |  |  |   |  |  | 5.250%            |  |  |   |
| (iv) Class A-2 Notes Accrual Basis                 |  |  |   |  |  | 30/360            |  |  |   |
| (E) Class A-3 Notes                                |  |  |   |  |  |              |  |  |   |
| (i) Class A-3 Notes Balance                        |  |  |   |  |  | $497,000,000.00   |  |  |   |
| (ii) Class A-3 Notes Percentage (E(i)/B)           |  |  |   |  |  | 32.06%            |  |  |   |
| (iii) Class A-3 Notes Rate                         |  |  |   |  |  | 5.120%            |  |  |   |
| (iv) Class A-3 Notes Accrual Basis                 |  |  |   |  |  | 30/360            |  |  |   |
| (F) Class A-4 Notes                                |  |  |   |  |  |              |  |  |   |
| (i) Class A-4 Notes Balance                        |  |  |   |  |  | $241,610,000.00   |  |  |   |
| (ii) Class A-4 Notes Percentage (F(i)/B)           |  |  |   |  |  | 15.59%            |  |  |   |
| (iii) Class A-4 Notes Rate                         |  |  |   |  |  | 5.110%            |  |  |   |
| (iv) Class A-4 Notes Accrual Basis                 |  |  |   |  |  | 30/360            |  |  |   |
| (G) Certificates                                   |  |  |   |  |  |              |  |  |   |
| (i) Certificates Balance                           |  |  |   |  |  | $50,374,457.74    |  |  |   |
| (ii) Certificates Percentage (G(i)/B)              |  |  |   |  |  | 3.25%             |  |  |   |
| (iii) Certificates Rate                            |  |  |   |  |  | 0.000%            |  |  |   |
| (iv) Certificates Accrual Basis                    |  |  |   |  |  | 30/360            |  |  |   |
| (H) Servicing Fee Rate                             |  |  |   |  |  | 1.00%             |  |  |   |
| (I) Portfolio Summary                              |  |  |   |  |  |              |  |  |   |
| (i) Weighted Average Coupon (WAC)                  |  |  |   |  |  | 6.37%             |  |  |   |
| (ii) Weighted Average Original Maturity (WAOM)     |  |  |   |  |  | 54.94             |  |  | months |
| (iii) Weighted Average Remaining Maturity (WAM)    |  |  |   |  |  | 51.19             |  |  | months |
| (iv) Number of Receivables                         |  |  |   |  |  | 85,234            |  |  |   |
| (J) Reserve Fund                                   |  |  |   |  |  |              |  |  |   |
| (i) Reserve Account Initial Deposit Percentage     |  |  |   |  |  | 0.50%             |  |  |   |
| (ii) Reserve Account Initial Deposit               |  |  |   |  |  | $7,749,922.29     |  |  |   |
| (iii) Specified Reserve Account Percentage         |  |  |   |  |  | 0.50%             |  |  |   |
| (iv) Specified Reserve Account Balance             |  |  |   |  |  | $7,749,922.29     |  |  |   |
|                                               |  |  |   |  |  |              |  |  |   |
| (K) Yield Supplement Account Deposit               |  |  |   |  |  | $30,906,261.16    |  |  |   |
|                                               |  |  |   |  |  |              |  |  |   |
| II. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS  |  |  |   |  |  |              |  |  |   |
| (A) Total Portfolio Balance                        |  |  |   |  |  | $1,549,984,457.74 |  |  |   |
| (B) Total Securities Balance                       |  |  |   |  |  | $1,549,984,457.74 |  |  |   |
| (C) Cumulative Note and Certificate Pool Factor    |  |  |   |  |  | 1.0000000         |  |  |   |
| (D) Class A-1 Notes                                |  |  |   |  |  |              |  |  |   |
| (i) Class A-1 Notes Balance                        |  |  |   |  |  | $406,000,000.00   |  |  |   |
| (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                        |  |  |   |  |  | $355,000,000.00   |  |  |   |
| (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                        |  |  |   |  |  | $497,000,000.00   |  |  |   |
| (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             |  |  |   |

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page 2

AMERICAN HONDA FINANCE CORPORATIONAnnual Statement to Certificateholder – Honda Auto Receivables 2006-3 Owner Trust04/01/06 through 03/31/07

|                                                                     |  |  |         |   |                |                           |  |  |                |  |        |        |  |  |        |  |  |        |  |  |  |  |  |  |
|---------------------------------------------------------------------|--|--|---------|---|----------------|---------------------------|--|--|----------------|--|--------|--------|--|--|--------|--|--|--------|--|--|--|--|--|--|
| (G) Class A-4 Notes                                                 |  |  |         |   |           |                           |  |  |                |  |   |        |
| (i) Class A-4 Notes Balance                                         |  |  |         | $ | 241,610,000.00 |                           |  |  |                |  |   |        |
| (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                                            |  |  |         | $ | 50,374,457.74  |                           |  |  |                |  |   |        |
| (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                                                 |  |  |         | $ | 7,749,922.29   |                           |  |  |                |  |   |        |
| (ii) Yield Supplement Account                                       |  |  |         | $ | 30,906,261.16  |                           |  |  |                |  |   |        |
| (iii) Payahead Account                                              |  |  |         | $ | 0.00           |                           |  |  |                |  |   |        |
| (iv) Advances Outstanding                                           |  |  |         | $ | 0.00           |                           |  |  |                |  |   |        |
| (K) Portfolio Summary as of End of Prior Year                       |  |  |         |   |           |                           |  |  |                |  |   |        |
| (i) Weighted Average Coupon (WAC)                                   |  |  |         |   | 6.37           | %                    |  |  |                |  |   |        |
| (ii) Weighted Average Remaining Maturity (WAM)                      |  |  |         |   | 51.19          |                           |  |  |                |  | months |        |
| (iii) Number of Receivables                                         |  |  |         |   | 85,234         |                           |  |  |                |  |   |        |
| (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                                 |  |  |         | $ | 0.00           |                           |  |  |                |  |   |        |
| (ii) Prepayments in Full                                            |  |  |         | $ | 0.00           |                           |  |  |                |  |   |        |
| (iii) Prepayments in Full due to Repurchases                        |  |  |         | $ | 0.00           |                           |  |  |                |  |   |        |
| (B) Precomputed Contracts Total Collections                         |  |  |         | $ | 0.00           |                           |  |  |                |  |   |        |
| (C) Precomputed Interest Receivables Interest (B-A((i)+(ii)+(iii))) |  |  |         | $ | 0.00           |                           |  |  |                |  |   |        |
| (D) Simple Interest Receivables Principal                           |  |  |         |   |           |                           |  |  |                |  |   |        |
| (i) Principal Collections                                           |  |  |         | $ | 183,226,927.33 |                           |  |  |                |  |   |        |
| (ii) Prepayments in Full                                            |  |  |         | $ | 78,791,954.81  |                           |  |  |                |  |   |        |
| (iii) Repurchased Receivables Related to Principal                  |  |  |         | $ | 14,250.27      |                           |  |  |                |  |   |        |
| (E) Simple Interest Receivables Interest                            |  |  |         |   |           |                           |  |  |                |  |   |        |
| (i) Simple Interest Collections                                     |  |  |         | $ | 45,258,904.68  |                           |  |  |                |  |   |        |
| (F) Payment Advance for Precomputes                                 |  |  |         |   |           |                           |  |  |                |  |   |        |
| (i) Reimbursement of Previous Advances                              |  |  |         | $ | 0.00           |                           |  |  |                |  |   |        |
| (ii) Current Advance Amount                                         |  |  |         | $ | 0.00           |                           |  |  |                |  |   |        |
| (G) Interest Advance for simple Interest - Net                      |  |  |         | $ | 764,718.50     |                           |  |  |                |  |   |        |
| (H) Payahead Account                                                |  |  |         |   |           |                           |  |  |                |  |   |        |
| (i) Payments Applied                                                |  |  |         | $ | 0.00           |                           |  |  |                |  |   |        |
| (ii) Additional Payaheads                                           |  |  |         | $ | 0.00           |                           |  |  |                |  |   |        |
| (I) Portfolio Summary as of End of Month                            |  |  |         |   |           |                           |  |  |                |  |   |        |
| (i) Weighted Average Coupon (WAC)                                   |  |  |         |   | 6.37           | %                    |  |  |                |  |   |        |
| (ii) Weighted Average Remaining Maturity (WAM)                      |  |  |         |   | 45.36          |                           |  |  |                |  | months |        |
| (iii) Remaining Number of Receivables                               |  |  |         |   | 79,518         |                           |  |  |                |  |   |        |
| (J) Delinquent Receivables                                          |  |  | # Units |   |                | Dollar Amount   |  |  |           |  |        |   |
| (i) 31-60 Days Delinquent                                           |  |  | 1,612   |   |                | 2.03%                     |  |  | $24,267,867.60 |  |        | 1.89%  |  |  |   |  |  |   |
| (ii) 61-90 Days Delinquent                                          |  |  | 259     |   |                | 0.33%                     |  |  | $3,470,363.56  |  |        | 0.27%  |  |  |   |  |  |   |
| (ii) 91 Days or More Delinquent                                     |  |  | 32      |   |                | 0.04%                     |  |  | $461,161.63    |  |        | 0.04%  |  |  |   |  |  |   |
| (K) Vehicles Repossessed During Collection Period                   |  |  | 78      |   |                | 0.10%                     |  |  | $1,256,312.64  |  |        | 0.10%  |  |  |   |  |  |   |
| (L) Total Accumulated Repossessed Vehicles in Inventory             |  |  | 150     |   |                | 0.19%                     |  |  | $2,434,208.17  |  |        | 0.19%  |  |  |   |  |  |   |

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page 3

AMERICAN HONDA FINANCE CORPORATIONAnnual Statement to Certificateholder – Honda Auto Receivables 2006-3 Owner Trust04/01/06 through 03/31/07

|                                                       |  |  |        |  |               |        |  |  |        |  |  |        |  |  |  |  |        |  |
|-------------------------------------------------------|--|--|--------|--|---------------|--------|--|--|--------|--|--|--------|--|--|--|--|--------|--|
| IV. INPUTS DERIVED FROM OTHER SOURCES                 |  |  |   |  |               |   |  |  |   |  |  |   |  |  |  |  |   |  |
| (A) Collection Account Investment Income              |  |  |   |  |               |   |  |  |   |  |  |   |  |  |  |  | $0.00  |  |
| (B) Reserve Account Investment Income                 |  |  |        |  | $181,528.95   |        |
| (C) Yield Supplement Account Investment Income        |  |  |        |  | $615,045.86   |        |
| (D) Trust Fees Expense                                |  |  |        |  | $9,500.00     |        |
| (E) Aggregate Net Losses for Collection Period        |  |  |        |  | $2,706,294.93 |        |
| (F) Liquidated Receivables Information                |  |  |        |  |          |        |
| (i) Gross Principal Balance on Liquidated Receivables |  |  |        |  | $5,007,512.23 |        |
| (ii) Liquidation Proceeds                             |  |  |        |  | $2,195,474.30 |        |
| (ii) Recoveries from Prior Month Charge Offs          |  |  |        |  | $105,743.00   |        |
| (G) Days in Accrual Period                            |  |  |        |  | 173           |        |
| (H) Deal age                                          |  |  |        |  | 6             |        |

COLLECTIONS

|                                                                         |  |  |        |  |                 |        |  |  |        |  |  |        |  |  |  |  |                |  |
|-------------------------------------------------------------------------|--|--|--------|--|-----------------|--------|--|--|--------|--|--|--------|--|--|--|--|----------------|--|
| V. INTEREST COLLECTIONS                                                 |  |  |   |  |                 |   |  |  |   |  |  |   |  |  |  |  |           |  |
| (A) Total Interest Collections (III(C+E(i)+G)                           |  |  |   |  |                 |   |  |  |   |  |  |   |  |  |  |  | $46,023,623.18 |  |
|                                                                    |  |  |        |  |            |        |
| VI. PRINCIPAL COLLECTIONS                                               |  |  |        |  |            |        |
| (A) Principal Payments Received (III(A((i)+(ii))+(D(i)+(ii)))           |  |  |        |  | $262,018,882.14 |        |
| (B) Liquidation Proceeds (IV(H(i)))                                     |  |  |        |  | $2,195,474.30   |        |
| (C) Repurchased Loan Proceeds Related to Principal (III(A(iii)+D(iii))) |  |  |        |  | $14,250.27      |        |
| (D) Recoveries from Prior Charge Offs (IV(H(ii)))                       |  |  |        |  | $105,743.00     |        |
| (E) Total Principal Collections (A+B+C+D)                               |  |  |        |  | 264,334,349.71  |        |
|                                                                    |  |  |        |  |            |        |
| VII. TOTAL INTEREST AND PRINCIPAL COLLECTIONS (V(C)+VI(E))              |  |  |        |  | 310,357,972.89  |        |
|                                                                    |  |  |        |  |            |        |
| VIII. YIELD SUPPLEMENT DEPOSIT                                          |  |  |        |  | $9,509,273.85   |        |
|                                                                    |  |  |        |  |            |        |
| IX. TOTAL AVAILABLE AMOUNT (VII+VIII)                                   |  |  |        |  | 319,867,246.74  |        |

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page 4

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2006-3 Owner Trust 04/01/06 through 03/31/07

DISTRIBUTIONS

|                                                                                                |  |  |  |  |                 |  |
|------------------------------------------------------------------------------------------------|--|--|--|--|-----------------|--|
| X. FEE DISTRIBUTIONS                                                                           |  |  |  |  |            |  |
| (A) Servicing Fee                                                                         |  |  |  |  |            |  |
| (i) Servicing Fee Due (I(H)/12)(II(B))+(II(H)(i))                                              |  |  |  |  | $7,198,937.87   |  |
| (ii) Servicing Fee Paid                                                                        |  |  |  |  | 7,198,937.87    |  |
| (iii) Servicing Fee Shortfall                                                                  |  |  |  |  | $0.00           |  |
| (B) Reserve Account Investment Income (IV(B))                                                  |  |  |  |  | $181,528.95     |  |
| (C) Yield Supplement Account Investment Income (IV(C))                                         |  |  |  |  | $0.00           |  |
| (D) Trust Fees Expense (IV(D))                                                                 |  |  |  |  | $9,500.00       |  |
| XI. DISTRIBUTIONS TO NOTEHOLDERS                                                               |  |  |  |  |            |  |
| (A) Interest                                                                              |  |  |  |  |            |  |
| (i) Class A-1 Notes                                                                       |  |  |  |  |            |  |
|    (a) Class A-1 Notes Interest Due                                             |  |  |  |  | $7,439,398.66   |  |
|    (b) Class A-1 Notes Interest Paid                                            |  |  |  |  | 7,439,398.66    |  |
|    (c) Class A-1 Notes Interest Shortfall                                       |  |  |  |  | $0.00           |  |
| (ii) Class A-2 Notes                                                                           |  |  |  |  |            |  |
|    (a) Class A-2 Notes Interest Due                                             |  |  |  |  | $8,801,041.67   |  |
|    (b) Class A-2 Notes Interest Paid                                            |  |  |  |  | 8,801,041.67    |  |
|    (c) Class A-2 Notes Interest Shortfall                                       |  |  |  |  | $0.00           |  |
| (iii) Class A-3 Notes                                                                          |  |  |  |  |            |  |
|    (a) Class A-3 Notes Interest Due                                             |  |  |  |  | $12,016,355.54  |  |
|    (b) Class A-3 Notes Interest Paid                                            |  |  |  |  | 12,016,355.54   |  |
|    (c) Class A-3 Notes Interest Shortfall                                       |  |  |  |  | $0.00           |  |
| (iv) Class A-4 Notes                                                                           |  |  |  |  |            |  |
|    (a) Class A-4 Notes Interest Due                                             |  |  |  |  | $5,830,183.54   |  |
|    (b) Class A-4 Notes Interest Paid                                            |  |  |  |  | 5,830,183.54    |  |
|    (c) Class A-4 Notes Interest Shortfall                                       |  |  |  |  | $0.00           |  |
| (v) Total Note Interest                                                                        |  |  |  |  |            |  |
|    (a) Total Note Interest Due                                                  |  |  |  |  | $34,086,979.41  |  |
|    (b) Total Note Interest Paid                                                 |  |  |  |  | 34,086,979.41   |  |
|    (c) Total Note Interest Shortfall                                            |  |  |  |  | $0.00           |  |
|    (d) Reserve Fund Withdrawn for Note Interest                                 |  |  |  |  | $0.00           |  |
| Amount available for distributions after Fees & Interest (VIII-(IX(A)(ii)-(D))-X(A)(v)(b)) |  |  |  |  | 278,571,829.46  |  |
| (B) Principal                                                                                  |  |  |  |  |            |  |
| (i) Noteholders’ Principal Distribution Amounts                                     |  |  |  |  | $267,040,644.64 |  |
| (ii) Class A-1 Notes Principal                                                                 |  |  |  |  |            |  |
|    (a) Class A-1 Notes Principal Due                                            |  |  |  |  | 267,040,644.64  |  |
|    (b) Class A-1 Notes Principal Paid                                           |  |  |  |  | 267,040,644.64  |  |
|    (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                                                |  |  |  |  | $267,040,644.64 |  |
|    (b) Total Notes Principal Paid                                               |  |  |  |  | 267,040,644.64  |  |

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page 5

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2006-3 Owner Trust 04/01/06 through 03/31/07

|                                                                         |  |  |  |   |               |  |
|-------------------------------------------------------------------------|--|--|--|---|---------------|--|
|    (c) Total Notes Principal Shortfall                   |  |  |  | $ | 0.00          |  |
|    (d) Reserve Fund drawn                                |  |  |  | $ | 0.00          |  |
| Amount available for distributions to the Certificates and Reserve Fund |  |  |  |   | 11,531,184.82 |  |
| XIII. DISTRIBUTIONS TO CERTIFICATEHOLDERS                               |  |  |  |   |          |  |
| (A) Interest                                                       |  |  |  |   |          |  |
| (i) Certificate Monthly Interest Due                               |  |  |  | $ | 0.00          |  |
| (ii) Certificate Interest Shortfall Beginning Balance                   |  |  |  | $ | 0.00          |  |
| (iii) Total Certificate Interest Due                                    |  |  |  | $ | 0.00          |  |
| (iv) Certificate Interest Paid                                          |  |  |  |   | 0.00          |  |
| (v) Certificate Interest Shortfall Ending Balance                       |  |  |  | $ | 0.00          |  |
| (B) Principal                                                           |  |  |  |   |          |  |
| (i) Certificate Monthly 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          |  |
| XII. RESERVE FUND DEPOSIT                                               |  |  |  |   |          |  |
| Amount available for deposit into reserve account                       |  |  |  | $ | 11,531,184.82 |  |
| Amount deposited into reserve account                                   |  |  |  | $ | 0.00          |  |
| Excess Amount Released from Reserve Account                             |  |  |  | $ | 0.00          |  |
| Excess funds available to Certificateholders                            |  |  |  | $ | 11,531,184.82 |  |

DISTRIBUTIONS SUMMARY

|                                                 |  |  |  |   |                |  |
|-------------------------------------------------|--|--|--|---|----------------|--|
| (A) Total Collections                           |  |  |  | $ | 319,867,246.74 |  |
| (B) Service Fee                                 |  |  |  | $ | 7,198,937.87   |  |
| (C) Trustee Fees                                |  |  |  | $ | 9,500.00       |  |
| (D) Class A1 Amount                             |  |  |  | $ | 274,480,043.30 |  |
| (E) Class A2 Amount                             |  |  |  | $ | 8,801,041.67   |  |
| (F) Class A3 Amount                             |  |  |  | $ | 12,016,355.54  |  |
| (G) Class A4 Amount                             |  |  |  | $ | 5,830,183.54   |  |
| (H) Certificateholders                          |  |  |  | $ | 0.00           |  |
| (I) Amount Deposited into Reserve Account       |  |  |  | $ | 0.00           |  |
| (J) Release to seller                           |  |  |  | $ | 11,531,184.82  |  |
| (K) Total amount distributed                    |  |  |  | $ | 319,867,246.74 |  |
| (L) Amount of Draw from Reserve Account         |  |  |  | $ | 0.00           |  |
| (M) Excess Amount Released from Reserve Account |  |  |  | $ | 0.00           |  |

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page 6

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2006-3 Owner Trust 04/01/06 through 03/31/07

DISTRIBUTION TO SECURITYHOLDERS

|                                                |  |  |                                                   |   |                |  |  |        |  |
|------------------------------------------------|--|--|---------------------------------------------------|---|----------------|--|--|--------|--|
| Note Interest Distribution Amount              |  |  |                                                   | $ | 34,086,979.41  |  |
| Class A-1 Notes:                               |  |  | ($2.18 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Class A-2 Notes:                          |  |  | ($4.38 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Class A-3 Notes:                          |  |  | ($4.27 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Class A-4 Notes:                          |  |  | ($4.26 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Note Principal Distribution Amount        |  |  |                                                   | $ | 267,040,644.64 |  |
| Class A-1 Notes:                               |  |  | ($116.65 per $1,000 original principal amount)    |   |                |  |  |   |  |
| Class A-2 Notes:                          |  |  | ($0.00 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Class A-3 Notes:                          |  |  | ($0.00 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Class A-4 Notes:                          |  |  | ($0.00 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Note Interest Carryover Shortfall         |  |  |                                                   |   | 0.00           |  |
| Change from immediately preceding Payment Date |  |  |                                                   |   | 0.00           |  |
| Class A-1 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Class A-2 Notes:                          |  |  | ($0.00 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Class A-3 Notes:                          |  |  | ($0.00 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Class A-4 Notes:                          |  |  | ($0.00 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Note Principal Carryover Shortfall        |  |  |                                                   |   | 0.00           |  |
| Change from immediately preceding Payment Date |  |  |                                                   |   | 0.00           |  |
| Class A-1 Notes:                               |  |  | ($0.00 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Class A-2 Notes:                          |  |  | ($0.00 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Class A-3 Notes:                          |  |  | ($0.00 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Class A-4 Notes:                          |  |  | ($0.00 per $1,000 original principal amount)      |   |                |  |  |   |  |
| Certificate Interest Distribution Amount  |  |  |                                                   |   | 0.00           |  |
|                                           |  |  | ($0.00 per $1,000 original principal amount) |   |                |  |  |   |  |
| Certificate Principal Distribution Amount |  |  |                                                   |   | 0.00           |  |
|                                           |  |  | ($0.00 per $1,000 original principal amount) |   |                |  |  |   |  |
| Certificate Interest Carryover Shortfall  |  |  |                                                   |   | 0.00           |  |
| Change from immediately preceding Payment Date |  |  |                                                   |   | 0.00           |  |
|                                           |  |  | ($0.00 per $1,000 original principal amount) |   |                |  |  |   |  |
| Certificate Principal Carryover Shortfall |  |  |                                                   |   | 0.00           |  |
| Change from immediately preceding Payment Date |  |  |                                                   |   | 0.00           |  |
|                                           |  |  | ($0.00 per $1,000 original principal amount) |   |                |  |  |   |  |

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page 7

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2006-3 Owner Trust 04/01/06 through 03/31/07

PORTFOLIO AND SECURITY SUMMARY

XIV.    POOL BALANCES AND PORTFOLIO INFORMATION

|                                                                        |  |  |        |  |  |                    |  |  |        |  |  |                   |  |  |        |
|------------------------------------------------------------------------|--|--|--------|--|--|--------------------|--|--|--------|--|--|-------------------|--|--|--------|
|                                                                   |  |  |   |  |  | Beginningof Period |  |  |   |  |  | Endof Period      |  |  |   |
| (A) Balances and Principal Factors                                     |  |  |   |  |  |               |  |  |   |  |  |              |  |  |   |
| (i) Aggregate Balance of Notes                                         |  |  |   |  |  | $1,499,610,000.00  |  |  |   |  |  | $1,232,569,355.36 |  |  |   |
| (ii) Note Pool Factor                                                  |  |  |   |  |  | 1.0000000          |  |  |   |  |  | 0.8219266         |  |  |   |
| (iii) Class A-1 Notes Balance                                          |  |  |   |  |  | 406,000,000.00     |  |  |   |  |  | 138,959,355.36    |  |  |   |
| (iv) Class A-1 Notes Pool Factor                                       |  |  |   |  |  | 1.0000000          |  |  |   |  |  | 0.3422644         |  |  |   |
| (v) Class A-2 Notes Balance                                            |  |  |   |  |  | 355,000,000.00     |  |  |   |  |  | 355,000,000.00    |  |  |   |
| (vi) Class A-2 Notes Pool Factor                                       |  |  |   |  |  | 1.0000000          |  |  |   |  |  | 1.0000000         |  |  |   |
| (vii) Class A-3 Notes Balance                                          |  |  |   |  |  | 497,000,000.00     |  |  |   |  |  | 497,000,000.00    |  |  |   |
| (viii) Class A-3 Notes Pool Factor                                     |  |  |   |  |  | 1.0000000          |  |  |   |  |  | 1.0000000         |  |  |   |
| (ix) Class A-4 Notes Balance                                           |  |  |   |  |  | 241,610,000.00     |  |  |   |  |  | 241,610,000.00    |  |  |   |
| (x) Class A-4 Notes Pool Factor                                        |  |  |   |  |  | 1.0000000          |  |  |   |  |  | 1.0000000         |  |  |   |
| (xi) Certificates Balance                                              |  |  |   |  |  | 50,374,457.74      |  |  |   |  |  | 50,374,457.74     |  |  |   |
| (xii) Certificates Pool Factor                                         |  |  |   |  |  | 1.0000000          |  |  |   |  |  | 1.0000000         |  |  |   |
| (xiii) Total Principal Balance of Notes and Certificates               |  |  |   |  |  | 1,549,984,457.74   |  |  |   |  |  | 1,282,943,813.10  |  |  |   |
| (B) Portfolio Information                                              |  |  |   |  |  |               |  |  |   |  |  |              |  |  |   |
| (i) Weighted Average Coupon (WAC)                                      |  |  |   |  |  | 6.37%              |  |  |   |  |  | 6.37%             |  |  |   |
| (ii) Weighted Average Remaining Maturity (WAM)                         |  |  |   |  |  | 51.19              |  |  | months |  |  | 45.36             |  |  | months |
| (iii) Remaining Number of Receivables                                  |  |  |   |  |  | 85,234             |  |  |   |  |  | 79,518            |  |  |   |
| (iv) Portfolio Receivable Balance                                      |  |  |   |  |  | $1,549,984,457.74  |  |  |   |  |  | $1,282,943,813.10 |  |  |   |
| (C) Outstanding Advance Amount                                         |  |  |   |  |  | $0.00              |  |  |   |  |  | $764,718.50       |  |  |   |
| (D) Outstanding Payahead Balance                                       |  |  |   |  |  | $0.00              |  |  |   |  |  | $0.00             |  |  |   |
| SUMMARY OF ACCOUNTS                                                    |
| XV.    RECONCILIATION OF RESERVE ACCOUNT           |  |  |   |  |  |               |  |  |   |  |  |              |  |  |   |
| (A) Beginning Reserve Account Balance                                  |  |  |   |  |  |               |  |  |   |  |  | $7,749,922.29     |  |  |   |
| (B) Draws                                                              |  |  |   |  |  |               |  |  |   |  |  |              |  |  |   |
| (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              |  |  |   |
| (E) Reserve Account Balance Prior to Release                           |  |  |   |  |  |               |  |  |   |  |  | 7,749,922.29      |  |  |   |
| (F) Reserve Account Required Amount                                    |  |  |   |  |  |               |  |  |   |  |  | 7,749,922.29      |  |  |   |
| (G) Final Reserve Account Required Amount                              |  |  |   |  |  |               |  |  |   |  |  | 7,749,922.29      |  |  |   |
| (H) Excess Reserve Account Amount                                      |  |  |   |  |  |               |  |  |   |  |  | 0.00              |  |  |   |
| (I) Release of Reserve Account Balance to Seller                       |  |  |   |  |  |               |  |  |   |  |  | 0.00              |  |  |   |
| (J) Ending Reserve Account Balance                                     |  |  |   |  |  |               |  |  |   |  |  | 7,749,922.29      |  |  |   |
|                                                                   |  |  |   |  |  |               |  |  |   |  |  |              |  |  |   |
| XVI.    RECONCILIATION OF YIELD SUPPLEMENT ACCOUNT |  |  |   |  |  |               |  |  |   |  |  |              |
| (A) Beginning Yield Supplement Account Balance                         |  |  |   |  |  |               |  |  |   |  |  | 30,906,261.16     |  |  |   |
| (B) Investment Earnings                                                |  |  |   |  |  |               |  |  |   |  |  | 615,045.86        |  |  |   |
| (C) Investment Earnings Withdraw                                       |  |  |   |  |  |               |  |  |   |  |  | 0.00              |  |  |   |
| (D) Additional Yield Supplement Amounts                                |  |  |   |  |  |               |  |  |   |  |  | 0.00              |  |  |   |
| (E) Yield Supplement Deposit Amount                                    |  |  |   |  |  |               |  |  |   |  |  | 9,509,273.85      |  |  |   |
| (F) Release of Yield Deposit Account Balance to Seller                 |  |  |   |  |  |               |  |  |   |  |  | 0.00              |  |  |   |
| (G) Ending Yield Supplement Account Balance                            |  |  |   |  |  |               |  |  |   |  |  | 22,012,033.17     |  |  |   |

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page 8

AMERICAN HONDA FINANCE CORPORATION Annual Statement to Certificateholder – Honda Auto Receivables 2006-3 Owner Trust 04/01/06 through 03/31/07

|                                                                                                         |  |  |                                                                                                                                                         |  |        |               |  |  |        |  |  |                      |  |  |               |  |  |        |
|---------------------------------------------------------------------------------------------------------|--|--|---------------------------------------------------------------------------------------------------------------------------------------------------------|--|--------|---------------|--|--|--------|--|--|----------------------|--|--|---------------|--|--|--------|
|                                                                                                    |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  |          |  |  |   |
| XVII.    NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY                                  |  |  |                                                                                                                                                    |  |        |          |  |  |   |  |  |                 |
| (A) Liquidated Contracts                                                                                |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  |          |  |  |   |
| (i) Liquidation Proceeds                                                                                |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | $2,195,474.30 |  |  |   |
| (ii) Recoveries on Previously Liquidated Contracts                                                      |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | 105,743.00    |  |  |   |
| (B) Aggregate Net Losses for Collection Period                                                          |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | 2,706,294.93  |  |  |   |
| (C) Net Loss Rate for Collection Period (annualized)                                                    |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | 2.29%         |  |  |   |
| (D) Cumulative Net Losses for all Periods                                                               |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | $2,706,294.93 |  |  |   |
| (E) Delinquent Receivables                                                                              |  |  |             # Units             |  |        | Dollar Amount |  |  |   |
| (i) 31-60 Days Delinquent                                                                               |  |  |                                                                                                                                                         |  | 1,612  |               |  |  | 2.03%  |  |  | $24,267,867.60       |  |  | 1.89%         |  |  |   |
| (ii) 61-90 Days Delinquent                                                                              |  |  |                                                                                                                                                         |  | 259    |               |  |  | 0.33%  |  |  | $3,470,363.56        |  |  | 0.27%         |  |  |   |
| (ii) 91 Days or More Delinquent                                                                         |  |  |                                                                                                                                                         |  | 32     |               |  |  | 0.04%  |  |  | $461,161.63          |  |  | 0.04%         |  |  |   |
|                                                                                                    |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  |          |  |  |   |
| XVIII.    REPOSSESSION ACTIVITY                                                     |  |  |             # Units             |  |        | Dollar Amount |  |  |   |
| (A) Vehicles Repossessed During Collection Period                                                       |  |  |                                                                                                                                                         |  | 78     |               |  |  | 0.10%  |  |  | $1,256,312.64        |  |  | 0.10%         |  |  |   |
| (B) Total Accumulated Repossessed Vehicles in Inventory                                                 |  |  |                                                                                                                                                         |  | 150    |               |  |  | 0.19%  |  |  | $2,434,208.17        |  |  | 0.19%         |  |  |   |
|                                                                                                    |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  |          |  |  |   |
| 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                                                                  |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | 0.59%         |  |  |   |
| (ii) Preceding Collection Period                                                                        |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | 0.73%         |  |  |   |
| (iii) Current Collection Period                                                                         |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | 0.97%         |  |  |   |
| (iv) Three Month Average (Avg(i,ii,iii))                                                                |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | 0.76%         |  |  |   |
| (B) Ratio of Balance of Contracts Delinquent 60 Days or More to the Outstanding Balance of Receivables. |  |  |                                                                                                                                                    |
| (i) Second Preceding Collection Period                                                                  |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | 0.72%         |  |  |   |
| (ii) Preceding Collection Period                                                                        |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | 0.61%         |  |  |   |
| (iii) Current Collection Period                                                                         |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | 0.55%         |  |  |   |
| (iv) Three Month Average (Avg(i,ii,iii))                                                                |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  | 0.63%         |  |  |   |
|                                                                                                    |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  |                 |  |  |          |  |  |   |
| (C) Loss and Delinquency Trigger Indicator                                                              |  |  |                                                                                                                                                         |  |   |               |  |  |   |  |  | Trigger was not hit. |  |  |          |

I hereby certify that the servicing report provided is trueand accurate to the best of my knowledge.

/s/ Paul C. Honda                Paul C. HondaAssistant Vice President, Assistant Secretaryand Compliance Officer(senior officer in charge ofthe servicing function)

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