**Exhibit 99.1**

 

**Capital One Auto Finance Trust 2003-A**

**Automobile Receivable - Backed Notes**

Class A-1 1.25% Asset-Backed NotesClass A-2 1.40% Asset-Backed NotesClass A-3-A 1.83% Asset-Backed NotesClass A-3-B LIBOR + 0.16% Asset Backed NotesClass A-4 -A 2.47% Asset-Backed NotesClass A-4-B LIBOR + 0.28% Asset Backed NotesClass B 0 % Asset-Backed Notes

 

**Preliminary Servicer’s Certificate**

 
| Monthly Period Beginning:       | 12/1/2003  | ** ** | **Purchases**** ** | **Units** | **Cut-off Date** | **Closing Date** | **Original Pool Balance** |
|---------------------------------|------------|------------|-------------------------|-----------|------------------|------------------|---------------------------|
| Monthly Period Ending:          | 12/31/2003 | ** ** | **Initial  Purchase**   | 56,734    | 05/28/2003       | 06/03/2003       | $967,779,094              |
| Prev. Distribution/Close  Date: | 12/15/2003 |       | **Sub.  Purchase #1**   | 11,239    | 08/07/2003       |             | $241,963,655              |
| Distribution Date:              | 01/15/2004 |       | **Sub.  Purchase #2**   | 0         |             |             | $0                        |
| Days of Interest for Period:    | 31         |       | **Sub.  Purchase #3**   | 0         |             |             | $0                        |
| Days in Collection Period:      | 31         |       | **Total**          | 67,973    |             |             | $1,209,742,750            |
| Months Seasoned:                | 7          |       |                    |      |             |             |                      |

 
| **I.**   | **MONTHLY  PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION:** |                                            |
|----------|----------------------------------------------------------------|-------------------------------------------------|
| **{1}**  | Beginning of Period Aggregate Principal Balance                | **{1}**                                         |   |   | 1,038,611,237.51 |
| **{2}**  | Purchase of Subsequent Receivables                             | **{2}**                                         |   |   | 0.00 |
|     | Monthly Principal Amounts                                      |                                            |   |   |   |
|     | **{3}**                                                        | Regular Principal Received                      | **{3}** | 15,774,257.90 |   |   |
|     | **{4}**                                                        | Prepaid Principal Received                      | **{4}** | 12,672,280.58 |   |   |
|     | **{5}**                                                        | Defaulted Receivables Deposit Amount            | **{5}** | 4,277,010.83 |   |   |
|     | **{6}**                                                        | Principal Portion of Repurchased Receivables    | **{6}** | 0.00 |   |   |
|     | **{7}**                                                        | Cram Down Losses and Other Non-Cash Adjustments | **{7}** | 50,013.24 |   |   |
|     |                                                           |                                            |   |   |   |   |
|     | **{8}**                                                        | Total Monthly Principal Amounts                 | **{8}** |   |   | 32,773,562.55 |
| **{9}**  | End of Period Aggregate Receivables Balance                    | **{9}**                                         |   |   | 1,005,837,674.96 |
| **{10}** | Pool Factor  (  {9} / Original Pool Balance)              | **{10}**                                        |   |   | **0.8314** |
|          |                                                                |                                                 |  |  |  |  |  |

 
| **II.**  | **MONTHLY PERIOD  NOTE BALANCE CALCULATION:**     |
|----------|---------------------------------------------------|
|     |                                              |
|     |                                              | **Class A-1** | **Class A-2** | **Class A-3-A** | **Class A-3-B** | **Class A-4-A** | **Class A-4-B** | **Class B** | **Total** |
| **{11}** | Original  Note Balance                            | **{11}** | $234,000,000 | $282,000,000 | $190,000,000 | $150,000,000 | $150,000,000 | $119,000,000 | $84,677,419 | $1,209,677,419 |
| **{12}** | Beginning of Period  Note Balance                 | **{12}** | $43,750,114 | $282,000,000 | $190,000,000 | $150,000,000 | $150,000,000 | $119,000,000 | $62,341,973 | $997,092,087 |
| **{13}** | Noteholders’ Principal  Distributable Amount | **{13}** | 29,496,206.30 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 7,417,872.28 | 36,914,078.58 |
| **{14}** | Noteholders’ Accelerated  Principal Amount   | **{14}** | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| **{15}** | Optional Note Redemption  Principal Amount        | **{15}** | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| **{16}** | End of Period Note  Balance                       | **{16}** | $14,253,907 | $282,000,000 | $190,000,000 | $150,000,000 | $150,000,000 | $119,000,000 | $54,924,101 | $960,178,008 |
| **{17}** | Note Pool Factors({16} / {11})                    | **{17}** | 0.0609 | 1.0000 | 1.0000 | 1.0000 | 1.0000 | 1.0000 | 0.6486 | 0.7937 |

 
| **III.** | **RECONCILIATION OF PRE-FUNDING ACCOUNT:**                         |     |     |   |
|----------|--------------------------------------------------------------------|----------|----------|--------|
| **{18}** | Beginning  of Period Pre-Funding Account Balance                   | **{18}** |     | 0.00   |
| **{19}** | Purchase of Subsequent Receivables                                 | **{19}** | 0.00     |   |
| **{20}** | Investment Earnings                                                | **{20}** | 157.56   |   |
| **{21}** | Investment Earnings Transfer to Collections Account                | **{21}** | (157.56) |   |
| **{22}** | Payment to Reserve Fund for Subsequent Funding Deposit             | **{22}** | 0.00     |   |
| **{23}** | Payment of Mandatory Prepayment Amount                             | **{23}** | 0.00     |   |
| **{24}** | Mandatory Reduction of the Prefunding Account After Final Addition | **{24}** | 0.00     |   |
| **{25}** | End  of Period Pre-Funding Account Balance                         | **{25}** |     | 0.00   |

 

1

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| **IV.**    | **RECONCILIATION  OF COLLECTION ACCOUNT:** | ** **                                                                  | ** **                  | ** **         |
|------------|--------------------------------------------|-----------------------------------------------------------------------------|-----------------------------|--------------------|
| ** ** | **Available  Funds:**                      | ** **                                                                  | ** **                  | ** **         |
| ** ** | **{26}**                                   | Scheduled and Prepayment Principal Cash Received                            | **{26}**                    | 28,446,538.48      | ** ** |
| ** ** | **{27}**                                   | Liquidation Proceeds Collected During Period                                | **{27}**                    | 1,133,426.24       | ** ** |
| ** ** | **{28}**                                   | Receivables Repurchase Amounts                                              | **{28}**                    | 0.00               | ** ** |
| ** ** | **{29}**                                   | Interest and Fee Collected on Receivables                                   | **{29}**                    | 11,333,335.20      | ** ** |
| ** ** | **{30}**                                   | Recoveries  on Previously Defaulted Receivables                             | **{30}**                    | 117,441.58         | ** ** |
| ** ** | **{31}**                                   | Return of Excess Deposit - Prefunding Account                               | **{31}**                    | 0.00               | ** ** |
| ** ** | **{32}**                                   | Advances from the Reserve Fund                                              | **{32}**                    | 0.00               | ** ** |
| ** ** | **{33}**                                   | Release from Reserve Fund Account                                           | **{33}**                    | 0.00               | ** ** |
| ** ** |                                       |                                                                        |                        |               | ** ** |
| ** ** |                                       | Investment Earnings on Trust Accounts                                       |                        |               | ** ** |
| ** ** | **{34}**                                   | Collection Account                                                          | **{34}**                    | 22,201.46          | ** ** |
| ** ** | **{35}**                                   | Transfer from Reserve Fund                                                  | **{35}**                    | 16,785.06          | ** ** |
| ** ** | **{36}**                                   | Transfer from Pre-Funding Account                                           | **{36}**                    | 157.56             |   |
|       | **{37}**                                   | Net Swap Receipts                                                           | **{37}**                    | 0.00               |   |
|       | **{38}**                                   | Optional Note Redemption  Prepayment Amount                                 | **{38}**                    | 0.00               |   |
|       | **{39}**                                   | Total Available Funds                                                       | **{39}**                    |               | 41,069,885.58 |
| ** ** | ** **                                 | ** **                                                                  | ** **                  | ** **         | ** ** |
| ** ** | **Distributions:**                         | ** **                                                                  | ** **                  | ** **         |
| ** ** | **{40}**                                   | Trustee Fees                                                                |                        |               | **{40}** | 0.00 | ** ** |
| ** ** | **{41}**                                   | Servicing Fees                                                              | **{41}**                    | 2,500,379.90       | ** ** |
| ** ** | **{42}**                                   | Net Swap Payments                                                           | **{42}**                    | 173,577.57         | ** ** |
| ** ** |                                       | Class A Noteholders’ Note  Interest                                    |                        |               | ** ** |
| ** ** | ** **                                 | **Class**                                                                   | **Beginning  Note Balance** | **Interest  Rate** | **Days** | **Day Count  Basis** | **Calculated  Interest** |   |   | ** ** |
| ** ** | **{43}**                                   | Class  A-1                                                                  | $43,750,114                 | 1.25%              | 31 | Actual/360 | $47,115.87 | **{43}** | 47,115.87 | ** ** |
| ** ** | **{44}**                                   | Class  A-2                                                                  | $282,000,000                | 1.40%              | 30 | 30/360 | $329,000.00 | **{44}** | 329,000.00 | ** ** |
|       | **{45}**                                   | Class  A-3-A                                                                | $190,000,000                | 1.83%              | 30 | 30/360 | $289,750.00 | **{45}** | 289,750.00 |   |
| ** ** | **{46}**                                   | Class  A-3-B                                                                | $150,000,000                | LIBOR + 0.16%      | 31 | Actual/360 | $170,822.92 | **{46}** | 170,822.92 | ** ** |
| ** ** | **{47}**                                   | Class  A-4 -A                                                               | $150,000,000                | 2.47%              | 30 | 30/360 | $308,750.00 | **{47}** | 308,750.00 | ** ** |
|       | **{48}**                                   | Class  A-4-B                                                                | $119,000,000                | LIBOR + 0.28%      | 31 | Actual/360 | $147,816.18 | **{48}** | 147,816.18 |   |
|       | **{49}**                                   | Note Insurer Premium *and*  Certain Reimbursement                           |                        |               | **{49}** | 188,594.56 |   |
|       | **{50}**                                   | Class A Noteholders’ Principal Payment Amount                          |                        |               | **{50}** | 29,496,206.30 |   |
|       | **{51}**                                   | Accrued and Unpaid Premium and Reimbursement  Obligations, due Note Insurer |                        | **{51}**           | 0.00 |   |
|       | **{52}**                                   | Deposit/(Release) to/from Reserve Account, to  Required Level               |                        | **{52}**           | 0.00 |   |
|       | **{53}**                                   | Class A Noteholder’s Accelerated Principal Amount                      |                        |               | **{53}** | 0.00 |   |
|       | **{54}**                                   | Class B Noteholder’s Principal Payment Amount                          |                        |               | **{54}** | 7,417,872.28 |   |
|       | **{55}**                                   | Swap Termination Payments                                                   |                        |               | **{55}** | 0.00 |   |
|       | **{56}**                                   | Other Amounts Due to the Trustees                                           |                        |               | **{56}** | 0.00 |   |
|       | **{57}**                                   | Servicer Re-liening Expenses                                                |                        |               | **{57}** | 0.00 |   |
|       | **{58}**                                   | Indenture Trustee Title Expenses                                            |                        |               | **{58}** | 0.00 |   |
|       | **{59}**                                   | Distribution to the Equity Certificate Holder                               |                        |               | **{59}** | 0.00 |   |
|       | **{60}**                                   | Total Distribution                                                          |                        |               | **{60}** |   | 41,069,885.58 |
|            |                                            |                                                                             |                             |                    |  |  |  |  |  |  |  |  |  |  |

 

2

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| **V.**   | **RECONCILIATION OF RESERVE ACCOUNT:**                                                       |     |          |          |
|----------|----------------------------------------------------------------------------------------------|----------|---------------|---------------|
| **{61}** | **Beginning of Period Reserve Account  balance**                                             | **{61}** |          | 24,194,855.00 |
| **{62}** | Deposits to Reserve Account - Subsequent Fundings                                            | **{62}** |          | 0.00          |
| **{63}** | **Subtotal**                                                                                 | **{63}** |          | 24,194,855.00 |
|     | **{64}        **Reserve  Account Requirement         | **{64}** | 24,194,855.00 |          |
|     | **{65}        **Reserve Acount  Shortfall / (Excess) | **{65}** | 0.00          |          |
| **{66}** | Deposit to Reserve Fund, to Required Level                                                   | **{66}** |          | 0.00          |
| **{67}** | Release from Reserve Account                                                                 | **{67}** |          | 0.00          |
| **{68}** | **End of Period Reserve Account  Balance**                                                   | **{68}** |          | 24,194,855.00 |
|     |                                                                                         |     |          |          |
| **{69}** | EOP Shortfall                                                                                | **{69}** |          | 0.00          |

 

IN WITNESS WHEREOF, the undersigned has dulyexecuted and delivered this Monthly Servicer’s Report as dated below.

 

OFFICERS’CERTIFICATE

 

The undersigned hereby certifies that (i) heor she is an Authorized Officer of Capital One Auto Finance, Inc. (the“Servicer”), and (ii) Exhibit A hereto complies with the requirements of, andis being delivered pursuant to, the Servicing Agreement dated as of June 3,2003 by and among Capital One Auto Finance, Inc., as Servicer, Capital One AutoFinance Trust 2003-A, as Issuer, and JPMorgan Chase Bank, as Indenture Trustee.

 

 
| CAPITAL ONE AUTO FINANCE,  INC.              |
|----------------------------------------------|
| Capital One Auto Finance,  Inc., as Servicer |
|                                         |
|                                         |
| By:                                          | /s/ Steve  Cunningham |   |
| Name:                                        | Steve Cunningham |
| Title:                                       | Assistant Vice President |
| Date:                                        | 1/12/2004 |

 

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**Exhibit A**

 

**Capital One Auto Finance Trust**

**Automobile Receivable - Backed Notes, Series 2003-A**

**Servicer’s Certificate**

 

Class A-1 1.25% Asset-Backed NotesClass A-2 1.40% Asset-Backed NotesClass A-3-A 1.83% Asset-Backed NotesClass A-3-B LIBOR + 0.16% Asset Backed NotesClass A-4 -A 2.47% Asset-Backed NotesClass A-4-B LIBOR + 0.28% Asset Backed NotesClass B 0 % Asset-Backed Notes

 

**Monthly Period Ending 12/31/2003**

**Distribution Date 01/15/2004**

 

 
| **I.**  | **MONTHLY PERIOD NOTE  BALANCE CALCULATION:** |           |           |           |           |         |        |
|---------|-----------------------------------------------|----------------|----------------|----------------|----------------|--------------|-------------|
|    |                                          |           |           |           |           |         |        |
|    |                                          | **Class  A-1** | **Class  A-2** | **Class  A-3** | **Class  A-4** | **Class  B** | **Total**   |
| **{1}** | Original Note Balance                         |           | $234,000,000   | $282,000,000   | $340,000,000   | $269,500,000 | $84,677,419 | $1,209,677,419 |
| **{2}** | Beginning of Period Note Balance              |           | $43,750,114    | $282,000,000   | $340,000,000   | $269,500,000 | $62,341,973 | $997,092,087 |
| **{3}** | End of Period Note Balance                    |           | $14,253,907    | $282,000,000   | $340,000,000   | $269,500,000 | $54,924,101 | $960,178,008 |
| **{4}** | Note Pool Factors ({3} / {1})                 |           | 0.0609         | 1.0000         | 1.0000         | 1.0000       | 0.6486      | 0.7937 |

 
| **II.**  | **MONTHLY PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES  CALCULATION:** |   |   |    |
|----------|-----------------------------------------------------------------------|--------|--------|---------|
|     |                                                                  |   |   |    |   |   |   |   |   |   |   |   |   |
|     |                                                                  |   |   |    |   |   |   |   |   |   |   | **Cumulative** | **Period** |
| **{5}**  | Beginning Number of Receivables                                       |   |   |    | **{5}** | 56,734 | 62,475 |
| **{6}**  | Number of Subsequent Receivables Purchased                            |   |   |    | **{6}** | 11,239 | 0 |
| **{7}**  | Number of Receivables Defaulted During Period                         |   |   |    | **{7}** | 838 | 271 |
| **{8}**  | Number of Receivables Becoming Purchased Receivables During Period    |   |   | **{8}** | 50 | 0 |
| **{9}**  | Number of Receivables Paid Off During Period                          |   |   | **{9}** | 5,776 | 895 |
| **{10}** | Ending Number of Receivables                                          |   |   |    | **{10}** | 61,309 | 61,309 |

 
| **III.** | **STATISTICAL DATA:  (CURRENT AND HISTORICAL)** |     |   |      |   |
|----------|------------------------------------------------------|----------|--------|-----------|--------|
|     |                                                 |     |   |      |   |   |   |   |   |   |   |
|     |                                                 |     |   |      |   |   |   |   | **Original** | **Prev.  Month** | **Current** |
| **{11}** | Weighted Average APR of the Receivables              | **{11}** | 13.33% | 13.27%    | 13.28% |
| **{12}** | Weighted Average Remaining  Term of the Receivables  | **{12}** | 59.32  | 56.90     | 55.05  |
| **{13}** | Weighted Average Original Term of Receivables        | **{13}** | 63.16  | 63.16     | 63.16  |
| **{14}** | Average Receivable Balance                           | **{14}** | 17,058 | 16,614.61 | 16,391 |

 
| **IV.**                                       | **DELINQUENCY:**                                                                      |      |        |           |   |
|-----------------------------------------------|---------------------------------------------------------------------------------------|-----------|-------------|----------------|--------|
|                                          |                                                                                  |      |        |           |   |   |   |   |   |   |   |   |   |
| Receivables with Scheduled Payment Delinquent |                                                                                  | **Units** | **Dollars** | **Percentage** |
| **{15}**                                      | 31-60 days                                                                            | **{15}**  | 2,291       | 38,534,858     | 3.71%  |
| **{16}**                                      | 61-90 days                                                                            | **{16}**  | 716         | 12,220,168     | 1.18%  |
| **{17}**                                      | 91-120 days                                                                           | **{17}**  | 213         | 3,754,730      | 0.36%  |
| **{18}**                                      | Receivables with Scheduled Payment Delinquent More  Than 60 Days at the End of Period | **{18}**  | 929         | 15,974,897     | 1.54%  |
|                                               |                                                                                       |           |             |                |        |  |  |  |  |  |  |  |  |

 

1

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| **V.** | **PERFORMANCE TESTS:** |
|--------|------------------------|

 
| **Delinquency Ratio:** |                                                                                                   |     |          |
|------------------------|--------------------------------------------------------------------------------------------------------|----------|---------------|
| **{19}**               | Receivables with Scheduled Payment Delinquent More  Than 60 Days at the End of Period (line {18}) | **{19}** | 15,974,897    |   |
| **{20}**               | Beginning of Period Principal Balance                                                                  | **{20}** | 1,038,611,238 |   |
| **{21}**               | Delinquency Ratio ({16} + {17} / {20})                                                                 | **{21}** |          | 1.54% |
| **{22}**               | Previous Monthly Period Delinquency Ratio                                                              | **{22}** |          | 1.21% |
| **{23}**               | Second Previous Monthly Period Delinquency Ratio                                                       | **{23}** |          | 0.93% |
| **{24}**               | Average Delinquency Ratio ({21} + {22} +{23}) / 3)                                                     | **{24}** |          | 1.23% |
|                   |                                                                                                   |     |          |   |   |
|                        |                                                                                                        |          |               |  |  |

 
|   |   |                                                                                                                                                                                                                                                                      |   |    |   |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|--------|
|   |   | Compliance with Accelerated Reserve Fund Trigger? (Average Delinquency  Ratio is less than or equal to 5.5% months 1-4, 7.0% months 5-7, 6.5% months  8-16, 8.0% months 17-19, 7.5% months 20-28, 9.0% months 29-31, 8.5% months  32-37, 9.5% months 38 and beyond)?      |   | **Yes** |   |
|   |   |                                                                                                                                                                                                                                                                      |   |    |   |
|   |   | Is the Deal in Accelerated Reserve Fund Event?                                                                                                                                                                                                                            |   | **No**  |   |
|   |   |                                                                                                                                                                                                                                                                      |   |    |   |
|   |   | Compliance with  Insurance Agreement Event of Default? (Average Delinquency Ratio is less than  or equal to 4.5% months 1-4, 6.0% months 5-7, 5.5% months 8-16, 7.0% months  17-19, 6.5% months 20-28, 8.0% months 29-31, 7.5% months 32-37, 8.5% months  38 and beyond?) |   | **Yes** |   |
|   |   |                                                                                                                                                                                                                                                                      |   |    |   |

 
| **Cumulative Net Charge-off Rate:** |                                                                     |     |         |
|-------------------------------------|--------------------------------------------------------------------------|----------|--------------|
|                                |                                                                     |     |         |
| **{25}**                            | Net Losses since Initial Cut-off Date (Beginning of  Period)             | **{25}** |         | 6,139,432.84 |
| **{26}**                            | Receivables  Becoming Defaulted Receivables during period                | **{26}** | 4,277,010.83 |   |
| **{27}**                            | Cram Down Losses  and other non-cash Adjustments occurring during period | **{27}** | 50,013.24    |   |
| **{28}**                            | Liquidation  Proceeds collected during period                            | **{28}** | 1,133,426.24 |   |
| **{29}**                            | Recoveries  on Defaulted Recoverables during period                      | **{29}** | 117,441.58   |   |
| **{30}**                            | Net Losses during  period {26} + {27} - {28} - {29}                      | **{30}** | 3,076,156.25 |   |
| **{31}**                            | Net Losses since Initial Cut-off Date (End of Period)                    | **{31}** |         | 9,215,589.09 |
| **{32}**                            | Cumulative Net Loss Ratio ({31})/(Original Aggregate  Principal Balance) | **{32}** |         | 0.76% |
|                                |                                                                     |     |         |   |   |
|                                     |                                                                          |          |              |  |  |

 
|   |                                                                                                              |   |    |   |   |
|--------|-------------------------------------------------------------------------------------------------------------------|--------|---------|--------|--------|
|   | Compliance with  Accelerated Reserve Fund Trigger? Cumulative Net Loss Ratio is less than or  equal to 4.63%      |   | **Yes** |   |
|   |                                                                                                              |   |    |   |   |
|   | Compliance with  Insurance Agreement Event of Default? Cumulative Net Loss Ratio is less than  or equal to: 5.25% |   | **Yes** |   |
|   |                                                                                                              |   |    |   |   |

 

**Extension Rate**

 
| **{33}** | Number of  Receivables extended during current period | **{33}** | 367    |   |
|----------|-------------------------------------------------------|----------|--------|--------|
| **{34}** | Beginning of  Period Loans Outstanding                | **{34}** | 62,475 |   |
| **{35}** | Extension Rate  {33}/{34}                             | **{35}** |   | 0.59%  |
| **{36}** | Previous Monthly  Extension Rate                      | **{36}** |   | 0.48%  |
| **{37}** | Second previous  Monthly Extension Rate               | **{37}** |   | 0.38%  |
| **{38}** | Average Extension  Rate ({35}+{36}+{37})/3            | **{38}** |   | 0.48%  |
|     |                                                  |     |   |   |   |
|          |                                                       |          |        |        |  |

 
|   |   |                                                                              |   |    |   |
|--------|--------|-----------------------------------------------------------------------------------|--------|---------|--------|
|   |   | Compliance  with Extension Test? (Pass is an Average Extension Rate less than 4%) |   | **Yes** |   |
|   |   |                                                                              |   |    |   |

 

2

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**Capital OneAuto Finance Trust 2003-A**

Aggregate Data for year ended December 31,2003

 
| Defaults                                    |   | 13,682,678.26  |   |
|---------------------------------------------|--------|----------------|--------|
| Total Collections                           |   | 279,093,903.98 |   |
| Scheduled and Prepayment Principal Received |   | 188,938,380.88 |   |
| Collection of Interest and Fees             |   | 83,164,886.48  |   |
| Annual Servicing Fee Paid                   |   | 16,524,933.42  |   |
| Class A Investor Charge-Offs                |   | 0.00           |   |

 

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