**UNITED STATES****SECURITIES AND EXCHANGE COMMISSION****WASHINGTON, D.C. 20549****____********FORM 10-K****FOR ANNUAL AND TRANSITION REPORTS****PURSUANT TO SECTIONS 13 OR 15(d) OF THE****SECURITIES EXCHANGE ACT OF 1934**(Mark One) [x] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2010 or [  ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURI- TIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________Commission File Number:  001-32344 Freedom Depository, LLC, on behalf of: USAutos Series 2004-1 Trust (Exact name of registrant as specified in its charter)                           Delaware                                               72-1545842                   (State or Other Jurisdiction, Organization or Incorporation) (I.R.S. Employer Identification No.) 7801 North Capital of Texas Highway, Suite 300, Austin, Texas 78731 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code:  (512) 342-3000 Securities registered pursuant to Section 12(b) of the Act: Title of Class Name of  Registered Exchange 5.10% Freedom Certificates, USAutos Series 2004-1 Class A Certificates NYSE Alternext US (formerly the American Stock Exchange) Securities registered pursuant to Section 12(g) of the Act:  None Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [  ] No [x] 2Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [  ] No [x] Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to file requirements for the past 90 days. Yes [x] No [  ] Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T ( 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [x] No [  ]  Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [x]  Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.  See definition of "accelerated filer and large accelerated filer" in Rule 12b-2 of the Exchange Act. (Check one):  Large accelerated filer [  ] Accelerated filer [  ] Non-accelerated filer [x]  Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes [  ] No [x] State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter: The registrant has no voting stock or class of common stock that is held by non-affiliates. **DOCUMENTS INCORPORATED BY REFERENCE**None. 3**Introductory Note**Freedom Depository, LLC (the "Depositor") is the Depositor in respect of the USAutos 2004-1 Trust (the "Trust"), a common law trust formed pursuant to the Standard Terms for Trust Agreements, dated as of October 1, 2004, between the Depositor and U.S. Bank Trust National Association, as trustee (the "Trustee"), as supplemented by a Series Supplement (the "Series Supplement"), dated as of October 28, 2004, providing for the issuance of the 5.10% Freedom Certificates, USAutos Series 2004-1 Class A Certificates (the "Certificates") and is the depositor for the Certificates (the "Registrant").  The Trust's assets consist solely of notes issued by GMAC LLC and Ford Motor Credit Company.  The Certificates do not represent obligations of, or interests in, the Depositor or the Trustee. The issuers of the underlying securities, or guarantor thereof, or successor thereto, as applicable, are subject to the information reporting requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act").  For information on the issuers of the underlying securities, or guarantor thereof, or successor thereto, as applicable, please see their periodic and current reports filed with the Securities and Exchange Commission (the "Commission").  Such reports and other information required to be filed pursuant to the Exchange Act, by the issuers of the underlying securities, or guarantor thereof, or successor thereto, as applicable, may be inspected and copied at the public reference facilities maintained by the Commission at 100 F Street, NE., Washington, D.C. 20549.  The Commission also maintains a site on the World Wide Web at "http://www.sec.gov" at which users can view and download copies of reports, proxy and information statements and other information  filed electronically through the Electronic Data Gathering, Analysis and Retrieval system, or "EDGAR."  Neither the Depositor nor the Trustee has participated in the preparation of such reporting documents, or made any due diligence investigation with respect to the information provided therein.  Neither the Depositor nor the Trustee has verified the accuracy or completeness of such documents or reports.  There can be no assurance that events affecting the issuers of the underlying securities, or guarantor thereof, or successor thereto, as applicable, or the underlying securities have not occurred or have not yet been publicly disclosed that would affect the accuracy or completeness of the publicly available documents described above.  The chart below lists each trust, the issuer(s) or guarantor, or successor thereto, of the related underlying security issuers, and  their respective Exchange Act file numbers, if applicable. Underlying Securities Issuer(s) or Guarantor, or successor thereto Exchange Act File Number GMAC LLC 001-03754 Ford Motor Credit Company 001-06368 ******PART I**ITEM 1.  BUSINESS. Not Applicable ITEM 1A. RISK FACTORS Not Applicable ITEM 1B.  UNRESOLVED STAFF COMMENTS  Not Applicable ITEM 2.  PROPERTIES*.*Not Applicable ITEM 3.  LEGAL PROCEEDINGS. None 4ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. None ******PART II**ITEM 5.  MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES. The publicly offered Certificates representing investors' interest in the Trust are represented by one or more physical Certificates registered in the name of "Cede & Co.", the nominee of The Depository Trust Company.  Those publicly offered Certificates are listed on the American Stock Exchange. ITEM 6.  SELECTED FINANCIAL DATA. Not Applicable ITEM 7.**MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. Not Applicable ITEM 7A.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. Not Applicable ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. Not Applicable ITEM 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE. None ITEM 9A. CONTROLS AND PROCEDURES.  Not Applicable ITEM 9B.  OTHER INFORMATION.  None **PART III**ITEM 10.  DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE. Not Applicable ITEM 11.  EXECUTIVE COMPENSATION. Not Applicable ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS. Not Applicable ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.  None ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES. Not Applicable 5**PART IV**ITEM 15.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES. (a) The following documents have been filed as part of this report. 1. Trustee's Distribution Statements documented on Form 8-K regarding the distributions from the Trust to the certificateholders for the period from January 1, 2010 through and including December 31, 2010 have been filed with the Securities and Exchange Commission and are hereby incorporated by reference.  Filing dates are listed in Item below: Trust Description  Distribution Date  Filed On USAutos 2004-1 Trust 3/3/2010                3/8/2010 9/3/2010                9/13/2010 2. None. 3. Exhibits: 31.1  Certification by President of the Registrant pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2  Annual Compliance Report by Trustee pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 31.3  Report of Aston Bell & Associates. (b)See Item 15 (a) above. (c)Not applicable. 6**SIGNATURE**Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Freedom Depository, LLC, as Depositor for the Trust (the "Registrant") Dated:  March 10, 2011   By:    /s/  Sean  A. Dobson   Name:  Sean A. Dobson Title:  President 7**EXHIBIT INDEX**Reference Number per Item 601 of Regulation SK Description of Exhibits Exhibit Number in this Form 10-K 31.1 Certification by President of the Registrant pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.1 31.2 Annual Compliance Report by Trustee pursuant to 15 U.S.C. Section 7241, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 31.2 31.3 Report of Aston Bell and Associates 31.3