|   | (Mark      One) |
|--------|-----------------|

|  x | ANNUAL      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---------|------------------------------------------------------------------------------------------------|

|        o | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|---------------|----------------------------------------------------------------------------------------------------|

| DELAWARE                                                                                       |   | 26-6501020                                    |
|------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|
| (State      or other jurisdiction of incorporation or organization of the Issuing      Entity) |   | (I.R.S.      EmployerIdentification      No.) |

----

No

----

| Item      1. | Business. |
|--------------|-----------|

| Item      1A. | Risk      Factors. |
|---------------|--------------------|

| Item      1B. | Unresolved Staff      Comments. |
|---------------|---------------------------------|

| Item      2. | Properties. |
|--------------|-------------|

| Item      3. | Legal      Proceedings. |
|--------------|-------------------------|

| Item      4. | Submission of Matters      to a Vote of SecurityHolders. |
|--------------|----------------------------------------------------------|

----

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

|   | (a) | Not      applicable. |
|--------|-----|----------------------|

|   | (b) | Not      applicable. |
|--------|-----|----------------------|

| Item      6. | Selected Financial      Data. |
|--------------|-------------------------------|

| Item      7. | Management’s      Discussion and Analysis of Financial Condition and Results of      Operations. |
|--------------|--------------------------------------------------------------------------------------------------------|

| Item      7A. | Quantitative and      Qualitative Disclosures About Market  Risk. |
|---------------|-------------------------------------------------------------------|

| Item      8. | Financial Statements      and Supplementary Data. |
|--------------|---------------------------------------------------|

| Item      9. | Changes in and      Disagreements with Accountants on Accounting and Financial      Disclosure. |
|--------------|-------------------------------------------------------------------------------------------------|

| Item      9A. | Controls and      Procedures. |
|---------------|-------------------------------|

| Item      9A.(T) | Controls and      Procedures. |
|------------------|-------------------------------|

| Item      9B. | Other      Information. |
|---------------|-------------------------|

| Item      10. | Directors and      Executive Officers of theRegistrant. |
|---------------|---------------------------------------------------------|

| Item      11. | Executive      Compensation. |
|---------------|------------------------------|

| Item      12. | Security Ownership of      Certain Beneficial Owners and Management and Related Stockholder      Matters. |
|---------------|-----------------------------------------------------------------------------------------------------------|

----

| Item      13. | Certain      Relationships and RelatedTransactions. |
|---------------|-----------------------------------------------------|

| Item      14. | Principal Accountant      Fees and Services. |
|---------------|----------------------------------------------|

|   | (a) | The      following documents are filed as part of this  report. |
|--------|-----|-----------------------------------------------------------------|

|   | 33.1 | Report      on Assessment of Compliance with Applicable Servicing Criteria for      Asset-Backed Securities of Nissan Motor Acceptance    Corporation |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 33.2 | Management’s      Assertion on Compliance with Regulation AB (Deutsche Bank Trust Company      Americas) |
|--------|------|----------------------------------------------------------------------------------------------------------------|

|   | 34.1 | Report      of Independent Registered Public Accounting Firm (Ernst & Young      LLP) |
|--------|------|-------------------------------------------------------------------------------------------|

|   | 34.2 | Report      of Independent Registered Public Accounting Firm (KPMG  LLP) |
|--------|------|--------------------------------------------------------------------------|

----

|   | (a) | The      following documents are filed as part of this  report. |
|--------|-----|-----------------------------------------------------------------|

|   | Exhibit      No. |
|--------|------------------|

|   | 35.1 | Servicer      Compliance Statement of Nissan Motor Acceptance  Corporation |
|--------|------|----------------------------------------------------------------------------|

| Item      15. | Exhibits and Financial      Statement Schedules. |
|---------------|--------------------------------------------------|

|   |     (a)(1) | Not      applicable. |
|--------|--------------------------------|----------------------|

|   |     (a)(2) | Not      applicable. |
|--------|--------------------------------|----------------------|

|   |     (a)(3) | The      exhibits filed in response to Item 601 of Regulation S-K are listed in the      Exhibit Index. |
|--------|--------------------------------|---------------------------------------------------------------------------------------------------------|

|   | (b) | The      exhibits filed in response to Item 601 of Regulation S-K are listed in the      Exhibit Index. |
|--------|-----|---------------------------------------------------------------------------------------------------------|

|   | (c) | Not      applicable. |
|--------|-----|----------------------|

----

----

| Exhibit No. |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|-------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 3.1         | Amended      and Restated Certificate of Incorporation of NARC II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 3.2         | Bylaws      of NARC II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.1         | Sale      and Servicing Agreement, dated as of December 11, 2008, by and among the      Issuing Entity, NARC II, as seller, and NMAC, as servicer (incorporated by      reference to Exhibit 4.1 of Form 8-K, dated December 12, 2008, File No.      333-138931-04)                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 4.2         | Indenture,      dated as of December 11, 2008, by and between the Issuing Entity, and the      Indenture Trustee (incorporated by reference to Exhibit 4.2 of Form 8-K,      dated December 12, 2008, File No. 333-138931-04)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.3         | Purchase      Agreement, dated as of December 11, 2008, by and between NARC II, as      purchaser, and NMAC, as seller (incorporated by reference to Exhibit 4.3      of Form 8-K, dated December 12, 2008, File No.    333-138931-04)                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 4.4         | Amended      and Restated Trust Agreement, dated as of December 11, 2008, by and      between NARC II, as depositor, and Wilmington Trust Company, as Owner      Trustee (incorporated by reference to Exhibit 4.4 of Form 8-K, dated      December 12, 2008, File No. 333-138931-04)                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 4.5         | Administration      Agreement, dated as of December 11, 2008, by and among the Issuing Entity,      NMAC, as administrator, the Indenture Trustee and the Owner Trustee      (incorporated by reference to Exhibit 4.5 of Form 8-K, dated December 12,      2008, File No. 333-138931-04)                                                                                                                                                                                                                                                                                                                                                                                                                      |
| 4.6         | Yield      Supplement Agreement, dated as of December 11, 2008, by and among the      Issuing Entity, NARC II, as seller, NMAC, as servicer, and the Indenture      Trustee (incorporated by reference to Exhibit 4.6 of Form 8-K, dated      December 12, 2008, File No. 333-138931-04)                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 4.7         | ISDA      Master Agreement, dated as of December 11, 2008, between the Issuing      Entity and HSBC Bank USA, National Association (the “Swap Counterparty”);      ISDA Credit Support Annex, dated as of December 11, 2008, between the      Issuing Entity and the Swap Counterparty; Schedule to the ISDA Master      Agreement, dated as of December 11, 2008, between the Issuing Entity and      the Swap Counterparty; and Swap Transaction Confirmation, dated as of      December 11, 2008, between the Issuing Entity and the Swap Counterparty      (incorporated by reference to Exhibits 99.1, 99.2, 99.3 and 99.4 of Form      8-K, dated December 12, 2008, File No. 333-138931-04) |
| 31.1        | Certification      of Senior Officer in Charge of the Servicing Function of the Servicer      Pursuant to Rule 15d-14(d)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 33.1        | Report      on Assessment of Compliance With Applicable Servicing Criteria for      Asset-Backed Securities of Nissan Motor Acceptance    Corporation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
| 33.2        | Management’s      Assertion on Compliance With Regulation AB (Deutsche Bank Trust Company      Americas)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 34.1        | Report      of Independent Registered Public Accounting Firm (Ernst &      Young  LLP)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| 34.2        | Report      of Independent Registered Public Accounting Firm (KPMG  LLP)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 35.1        | Servicer      Compliance Statement of Nissan Motor Acceptance  Corporation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 99.1        | Annual      Servicer’s Certificate Provided by Nissan Motor Acceptance Corporation to      Holders of Notes and Certificates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |

----