SECURITIES AND EXCHANGE COMMISSION
                           Washington, D.C.  20549

                                     FORM 10-K


                     Pursuant to Section 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, 2003
_____________________ or

[    ] Transition Report Pursuant to Section 13 or 15d of the Securities
       Exchange Act of 1934          [Fee Required]
For the transition period from _____________  to ________

Commission file Number 333-37550
     Harley-Davidson Customer Funding Corp.

(Exact name of registrant as specified in its charter)

     Nevada                             36-4396302
(State or other jurisdiction         (I.R.S. Employer
of incorporation or organization)     Identification No.)

4150 Technology Way
Carson City, Nevada                                      98706

(Address of Principal Executive Offices)               (Zip Code)

Registrant's telephone number, including area code:   (775)886-3200

     Securities registered pursuant to Section 12(b) of the Act
           NONE
     Securities registered pursuant to Section 12(g) of the Act
           NONE

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 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 such filing
requirements for the past 90 days.
     x  Yes          No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K ( 229.405 of this chapter) 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 an accelerated filer (as
defined in Rule 12b-2 of the Act.)  Yes___  No _X_


                                      PART I
Item 1.  Business

This Annual Report on Form 10-K (the "Report") is filed with respect to
Harley-Davidson Motorcycle Trusts 2003-1, 2003-2 and 2003-3 and 2003-4
(the "Trusts").  The Trusts issued $550,000,000, $425,000,000, $475,000,000
and $300,000,000, respectively in aggregate principal amount of asset-backed
notes (the "Notes").  Certain information otherwise required to be included
in this Report by the Instructions to Form 10-K has been omitted in reliance
on the letter relief granted by the staff of the SEC to other companies in
similar circumstances.

Item 2.  Properties
         See Exhibit 99.1 and Exhibit 99.2.

Item 3. Legal Proceedings
        There were no legal proceedings.

Item 4. Submission of Matters to a Vote of Security Holders
     There were no matters submitted to a vote of the Security Holders.

                                    PART II

Item 5. Market for Registrant's Common Equity and Related Stockholder matters
     There were less than 300 participants per trust in the DTC system holding
     positions in the Cede Certificates as of December 31, 2003.
     The following were Noteholders of record as of the end of the reporting
     year.
     Harley-Davidson Motorcycle Trusts:
     Series 2003-1 Class A-1         Cede & Co.
     Series 2003-1 Class A-2         Cede & Co.
     Series 2003-1 Class B           Cede & Co.
     Series 2003-2 Class A-1         Cede & Co.
     Series 2003-2 Class A-2         Cede & Co.
     Series 2003-2 Class B           Cede & Co.
     Series 2003-3 Class A-1         Cede & Co.
     Series 2003-3 Class A-2         Cede & Co.
     Series 2003-3 Class B           Cede & Co.
     Series 2003-4 Class A-1         Cede & Co.
     Series 2003-4 Class A-2         Cede & Co.
     Series 2003-4 Class B           Cede & Co.

There is no established public trading market for the Notes.

Item 6.   Selected Financial Data

Not applicable.

Item 7.   Management's Discussion and Analysis of Financial Condition
and Results of Operation

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 Disclosures Information required by Item 304 of Reg. S-K.

       There were no changes in and/or disagreements with Accountants on
       Accounting and Financial Disclosures.

Item 9A.  Controls and Procedures

Not applicable

                                    PART III

Item 10.     Directors and Executive Officers of the Registrant

Not applicable.

Item 11.   Executive Compensation

Not applicable.


Item 12.  Security Ownership of Certain Beneficial Owners and Management

  The Notes are represented by one or more notes registered in the name of
  Cede & Co., the nominee of The Depository Trust Company.  An investor
  holding Notes is not entitled to receive a certificate representing such
  Note, except in limited circumstances.  Accordingly, Cede & Co. is the
  sole holder of Notes, which it holds on behalf of brokers, dealers,
  banks and other participants in the DTC system.  Such participants may
  hold Notes for their own accounts or for the accounts of their customers.
  The address of Cede & Co. is:
  Cede & Co.
  c/o The Depository Trust Company
  Seven Hanover Square
  New York, New York 10004

Item 13.  Certain Relationships and Related Transactions.
     There has not been, and there is not currently proposed, any transactions
     or series or transactions, to which any of the Trust, the Registrant,
     the Trustee or the Servicer is a party with any Noteholder who, to the
     knowledge of the Registrant and Servicer, owns of record or beneficially
     more than five percent of the Notes.

Item 14.     Principal Accounting Fees and Services

Not applicable

                                   PART IV

Item 15. Exhibits, Financial Statement Schedules, and Reports on Form 8-K

     (a) 1.  Not Applicable
           2.  Not Applicable
           3.  Exhibits
                99.1  Annual Summary Statement
                99.2  Annual Statement as to Compliance.
                99.3  Annual Independent Public
                         Accountant's Servicing Report.

     (b)   Reports on Form 8-K
     The Registrant has filed Current Reports on Form 8-K
     with the Securities and Exchange Commission dated March 17, 2003
     April 15, 2003, May 15, 2003, June 16, 2003, July 15, 2003,
     August 15, 2003, September 15, 2003, October 15, 2003,
     November 17, 2003 and December 15, 2003.

     (c)    See (a) 3 above

     (d)    Not Applicable



                     SIGNATURES

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.


     Harley Davidson Customer Funding Corp.


     By:  /s/  Perry A. Glassgow
            Vice President and Treasurer


Date: March 30, 2004

Harley-Davidson Credit Corp.

Certification

I, Perry Glassgow, certify that:

1. I have reviewed this annual report on Form 10-K, and all reports on
Form 8-K containing distribution or servicing reports filed in respect
of periods included in the year covered by this annual report, of
Harley-Davidson Customer Funding Corporation;

2. Based on my knowledge, the information in these reports, taken as a
whole, does not contain any untrue statement of a material fact or omit
to state a material fact necessary to make the statements made, in light
of the circumstances under which such statements were made, not misleading
as of the last day of the period covered by this annual report;

3. Based on my knowledge, the servicing information required to be
provided to the trustee by the servicer under the sale and servicing
agreement is included in these reports;

4. I am responsible for reviewing the activities performed by the
servicer under the sale and servicing agreement and based upon the review
required under the sale and servicing agreement, and except as disclosed
in the report, the servicer has fulfilled its obligations under the sale
and servicing agreement; and

5. The reports disclose all significant deficiencies relating to the
servicer's compliance with the minimum servicing standards based upon
the report provided by an independent accountant, after conducting a
review in compliance with the Uniform Single Attestation Program for
Mortgage Bankers or similar procedure, as set forth in the sale and
servicing agreement that is included in these reports.

Date:
	/s/ Perry A. Glassgow
	Perry A. Glassgow
	Vice President and Treasurer




                     EXHIBIT INDEX
     Exhibit Number  Description
     99.1            Annual Summary Statement
     99.2            Annual Statement of Compliance
     99.3            Report of Independent Accountants

       EXHIBIT 99.1 -- Summary of Aggregate Amounts or End of Year
       Amounts for the period ending December 31, 2003

     Harley-Davidson Motorcycle Trust 2003-1
     Summary of Aggregate Amounts or End of Year Amounts

     Pool Balance                      387,831,707.14
     Principal       Collections       156,385,000.42
     Interest        Collections        43,558,802.00
     Liquidation     Proceeds            2,545,052.06
     Realized Net    Losses              3,206,406.74
     Servicer        Fees                4,017,650.15
     Trustee         Fees                    8,691.93
     Class A-1       Balance           160,940,121.77
     Class A-2       Balance           207,500,000.00
     Class B         Balance            19,391,585.37
     Class A-1       Principal         154,059,878.23
     Class A-2       Principal                   0.00
     Class B         Principal           8,108,414.64
     Class A-1       Interest            3,596,317.93
     Class A-2       Interest            5,138,910.38
     Class B         Interest              535,773.89
     30 Delinquent %                            2.545%
     60 Delinquent %                            0.929%
     90 Delinquent %                            0.583%



     Harley-Davidson Motorcycle Trust 2003-2
     Summary of Aggregate Amounts or End of Year Amounts

     Pool Balance                      335,980,848.42
     Principal       Collections        85,856,256.37
     Interest        Collections        25,340,038.43
     Liquidation     Proceeds            1,055,159.47
     Realized Net    Losses              1,863,655.34
     Servicer        Fees                2,377,518.84
     Trustee         Fees                    5,141.29
     Class A-1       Balance           166,431,690.49
     Class A-2       Balance           152,750,000.00
     Class B         Balance            16,799,157.92
     Class A-1       Principal          84,565,999.36
     Class A-2       Principal                   0.00
     Class B         Principal           4,450,842.07
     Class A-1       Interest            1,870,493.15
     Class A-2       Interest            2,072,817.50
     Class B         Interest              238,464.59
     30 Delinquent %                            2.755%
     60 Delinquent %                            1.051%
     90 Delinquent %                            0.669%

     Harley-Davidson Motorcycle Trust 2003-3
     Summary of Aggregate Amounts or End of Year Amounts

     Pool Balance                      409,617,050.96
     Principal       Collections        63,644,951.57
     Interest        Collections        17,366,268.11
     Liquidation     Proceeds              573,158.83
     Realized Net    Losses                815,497.29
     Servicer        Fees                1,669,345.64
     Trustee         Fees                    4,197.15
     Class A-1       Balance           217,886,198.36
     Class A-2       Balance           171,250,000.00
     Class B         Balance            20,480,852.39
     Class A-1       Principal          62,113,800.76
     Class A-2       Principal                   0.00
     Class B         Principal           3,269,147.41
     Class A-1       Interest            1,611,213.59
     Class A-2       Interest            1,995,633.33
     Class B         Interest              215,663.76
     30 Delinquent %                            2.331%
     60 Delinquent %                            0.788%
     90 Delinquent %                            0.468%

     Harley-Davidson Motorcycle Trust 2003-4
     Summary of Aggregate Amounts or End of Year Amounts

     Pool Balance                      275,898,438.84
     Principal       Collections        23,895,124.70
     Interest        Collections         6,871,188.00
     Liquidation     Proceeds               32,638.10
     Realized Net    Losses                 39,504.59
     Servicer        Fees                  728,084.64
     Trustee         Fees                    2,548.30
     Class A-1       Balance           164,103,514.49
     Class A-2       Balance            98,000,000.00
     Class B         Balance            13,794,921.82
     Class A-1       Principal          22,896,485.51
     Class A-2       Principal                   0.00
     Class B         Principal           1,205,078.18
     Class A-1       Interest              595,533.51
     Class A-2       Interest              600,467.77
     Class B         Interest               72,425.27
     30 Delinquent %                            1.472%
     60 Delinquent %                            0.522%
     90 Delinquent %                            0.169%



       EXHIBIT 99.2 -- Servicer's Annual Statement of Compliance

 January 28, 2004

Re:  Certificate required by Section 9.05 of the Sale and
Servicing Agreement by and among Harley-Davidson Customer Funding
Corporation, as Trust Depositor, Harley-Davidson Credit Corp., as
Servicer, and BNY Midwest Trust Company, as Indenture Trustee for
Harley-Davidson Motorcycle Trust 2003-1

To the Trustees, Underwriters, and the Rating Agencies:

Please be advised that under the supervision of the undersigned officer,
the Servicer has made a review of its activities during the prior calendar
year and of its performance under the Sale and Servicing Agreement. To
such officer's knowledge, based on such review, the Servicer has fully
performed all its obligations under this Sale and Servicing Agreement

Harley-Davidson Credit Corp.
as Servicer
By /s/ Perry A. Glassgow
Perry A. Glassgow
Vice President and Treasurer

January 28, 2004

Re:  Certificate required by Section 9.05 of the Sale and
Servicing Agreement by and among Harley-Davidson Customer Funding
Corporation, as Trust Depositor, Harley-Davidson Credit Corp., as
Servicer, and BNY Midwest Trust Company, as Indenture Trustee for
Harley-Davidson Motorcycle Trust 2003-2

To the Trustees, Underwriters, and the Rating Agencies:

Please be advised that under the supervision of the undersigned officer,
the Servicer has made a review of its activities during the prior calendar
year and of its performance under the Sale and Servicing Agreement. To
such officer's knowledge, based on such review, the Servicer has fully
performed all its obligations under this Sale and Servicing Agreement

Harley-Davidson Credit Corp.
as Servicer
By /s/ Perry A. Glassgow
Perry A. Glassgow
Vice President and Treasurer

 January 28, 2004

Re:  Certificate required by Section 9.05 of the Sale and
Servicing Agreement by and among Harley-Davidson Customer Funding
Corporation, as Trust Depositor, Harley-Davidson Credit Corp., as
Servicer, and BNY Midwest Trust Company, as Indenture Trustee for
Harley-Davidson Motorcycle Trust 2003-3

To the Trustees, Underwriters, and the Rating Agencies:

Please be advised that under the supervision of the undersigned officer,
the Servicer has made a review of its activities during the prior calendar
year and of its performance under the Sale and Servicing Agreement. To
such officer's knowledge, based on such review, the Servicer has fully
performed all its obligations under this Sale and Servicing Agreement

Harley-Davidson Credit Corp.
as Servicer
By /s/ Perry A. Glassgow
Perry A. Glassgow
Vice President and Treasurer

January 28, 2004

Re:  Certificate required by Section 9.05 of the Sale and
Servicing Agreement by and among Harley-Davidson Customer Funding
Corporation, as Trust Depositor, Harley-Davidson Credit Corp., as
Servicer, and BNY Midwest Trust Company, as Indenture Trustee for
Harley-Davidson Motorcycle Trust 2003-4

To the Trustees, Underwriters, and the Rating Agencies:

Please be advised that under the supervision of the undersigned officer,
the Servicer has made a review of its activities during the prior calendar
year and of its performance under the Sale and Servicing Agreement. To
such officer's knowledge, based on such review, the Servicer has fully
performed all its obligations under this Sale and Servicing Agreement

Harley-Davidson Credit Corp.
as Servicer
By /s/ Perry A. Glassgow
Perry A. Glassgow
Vice President and Treasurer




     Ernst & Young LLP
     223 South Wacker Drive
     Chicago, IL 60606

Report of Independent Auditors on Compliance

To the Board of Directors of Harley-Davidson Credit Corp.


We have audited, in accordance with auditing standards generally accepted
in the United States, the consolidated balance sheets of Harley-Davidson
Financial Services, Inc. (the Company) and subsidiaries as of December 31,
2003, and the related consolidated statements of income, shareholders'
equity and cash flows for the year then ended, and have issued our report
thereon dated January 16, 2004.

In connection with our audit, nothing came to our attention that has caused
us to believe that the Company failed to comply with the terms, covenants,
provisions, or conditions of the servicing agreements (the Servicing
Agreements) detailed in Exhibit A attached, insofar as they relate to
accounting matters.  However, our audit was not directed primarily toward
obtaining knowledge of such noncompliance.

Our procedures included the following pertaining to the documents and records
relating to the servicing of motorcycle contracts (the "Pools") under the
Servicing Agreements.

   1.  We mathematically recomputed (on a test basis):
       a.  The amount and percentage of losses realized on the Pools;
       b.  Servicing and other fees and excess interest earned by the Company.
       c.  Interest due and paid to the certificate holders.
   2.  We agreed the cash flows from customer payments to bank statements and
       other records provided by the Company for a test month.
   3.  We gained an understanding of the assumptions inherent in these
       calculations.

Our procedures were performed on a sample of Pools judgmentally selected from
the population of Pools serviced for others by the Company under the Servicing
Agreements.  Our selection was not designed to specifically include Pools
from every agreement listed on Exhibit A.

This report is intended solely for the use of the Company, Harley-Davidson
Credit Corp. and the parties to the Security Agreements and should not be
used for any other purpose.


Ernst & Young LLP

January 14, 2004

EXHIBIT A
Securitization Trusts as of December 31, 2003

Harley-Davidson Motorcycle Trust 2003-4 - Sale and
     Servicing Agreement dated October 1, 2003
Harley-Davidson Motorcycle Trust 2003-3- Sale and
     Servicing Agreement dated August 1, 2003
Harley-Davidson Motorcycle Trust 2003-2 - Sale and
     Servicing Agreement dated May 1, 2003
Harley-Davidson Motorcycle Trust 2003-1- Sale and
     Servicing Agreement dated February 1, 2003


Harley-Davidson Motorcycle Trust 2002-2 - Sale and
     Servicing Agreement dated August 1, 2002
Harley-Davidson Motorcycle Trust 2002-1- Sale and
     Servicing Agreement dated April 1, 2002

Harley-Davidson Motorcycle Trust 2001-3 - Sale and
     Servicing Agreement dated December 1, 2001
Harley-Davidson Motorcycle Trust 2001-2 - Sale and
     Servicing Agreement dated August 1, 2001
Harley-Davidson Motorcycle Trust 2001-1- Sale and
     Servicing Agreement dated April 1, 2001

Harley-Davidson Motorcycle Trust 2000-3 - Sale and
     Servicing Agreement dated November 1, 2000
Harley-Davidson Eaglemark Motorcycle Trust 2000-2 - Sale and
     Servicing Agreement dated August 1, 2000
Harley-Davidson Eaglemark Motorcycle Trust 2000-1- Sale and
     Servicing Agreement dated  April 1, 2000

Harley-Davidson Eaglemark Motorcycle Trust 1999-3 - Sale and
     Servicing Agreement dated November 1, 1999
Harley-Davidson Eaglemark Motorcycle Trust 1999-2 - Sale and
     Servicing Agreement dated July 1, 1999


       EXHIBIT 99.3 -- Report of the Independent Auditors

(X) Ernst & Young LLP                 Phone: 312 879 2000
    233 South Wacker Drive
    Sears Tower
    Chicago, Illinois 60606-6301


Report of Independent Accountants on Applying Agreed-Upon Procedures


To the Board of Directors of Harley Davidson Credit Corp.,
Bank of New York Midwest Trust Company, and
 Wilmington Trust Company:


We have performed the procedures enumerated below, which were agreed
to by Harley Davidson Credit Corp.(the Company), the Servicer of Harley-
Davidson Eaglemark Motorcycle Trust 2003-1 (the Trust), Bank of New York
Midwest Trust Company(BONY), the Indenture Trustee of the Trust, and
Wilmington Trust Company (Wilmington), the Owner Trustee of the Trust,
with respect to certain servicing records of the Company, solely to
assist BONY and Wilmington in determining whether the Company has complied
with certain servicing and reporting requirements of the Sale and Servicing
Agreement dated February 1, 2003 (the Agreement), pertaining to the Trust.
This agreed-upon procedures engagement was performed in accordance with
standards established by the American Institute of Certified
Public Accountants.  The sufficiency of the procedures is solely the
responsibility of the Company, BONY, and Wilmington.  Consequently,
we make no representation regarding the sufficiency of the procedures
described below either for the purpose for which this report has been
requested or for any other purpose.


1. For the randomly selected month of October 2003, we obtained from the
Company's financial management a copy of the Monthly Report dated November
17, 2003, which is attached as Exhibit A (Monthly Report).  We also
obtained from the Company's financial management a copy of the September
2003 Monthly Report dated October 15, 2003 (Prior Monthly Report) and the
August 2003 Monthly Report dated September 15, 2003 (Second Prior Monthly
Report).

2. We performed the following procedures to the Monthly Report, which were
applied as indicated with respect to the symbols explained below:

A1 Compared the amount/rate to the Prior Monthly Report and found such
   amount/rate to be in agreement.

A2 Compared the rate to the Second Prior Monthly Report and found such
   rate to be in agreement.

B  Compared the amount to schedules prepared by the Company's accounting
   personnel derived from the Company's accounting records and found
   such amount to be in agreement.

C  Compared the amount to a copy of the Bank of New York November 2003
   collection account bank statement provided by the Company's
   financial management and found such amount to be in agreement.

D  Compared the amount to a copy of the Bank of New York October 2003
   reserve account bank statement provided by the Company's
   financial management and found such amount to be in agreement.

E  Compared the amount to a summary schedule provided by the Company's
   financial management and agreed total per the summary schedule to a
   copy of the Bank of New York November 2003 collection account bank
   statement.

F  Proved the arithmetic accuracy of the addition of the amount
   referenced, without exception.

Z  Obtained representations from the Company's management that no
   supporting schedules had been prepared for this item.  Accordingly,
   we did not test these zero balance items.

R(a) Recomputed and agreed amount/rate based on applicable amounts and
     rates shown in the Monthly Report.

R(b) Recomputed and compared amount to copies of the Bank of New York
     October 2003 collection and reserve account bank statements
     provided by the Company's financial management.

R(c) Recomputed and agreed amount based on applicable amounts shown in the
     Company's accounting records.

R(d) Recomputed and agreed amount/rate based on applicable amounts and rates
     shown in the Monthly Report and Agreement.

SSA Compared the rate to the Agreement, and found such rate to be in
   agreement.

We were not engaged to and did not perform an examination, the objective of
which would be an expression of an opinion on the Company's compliance with
the servicing and reporting requirements of the Agreement.  Accordingly, we
do not express such an opinion.  Had we performed additional procedures,
other matters might have come to our attention that would have been reported
to you.

This letter is intended solely for the information and use of the Company,
BONY, and Wilmington, and is not intended to be and should not be used by
anyone other than these specified parties.


Ernst & Young LLP

January 9, 2004


X) Ernst & Young LLP                 Phone: 312 879 2000
    233 South Wacker Drive
    Sears Tower
    Chicago, Illinois 60606-6301


Report of Independent Accountants on Applying Agreed-Upon Procedures


To the Board of Directors of Harley Davidson Credit Corp.,
Bank of New York Midwest Trust Company, and
 Wilmington Trust Company:


We have performed the procedures enumerated below, which were agreed
to by Harley-Davidson Credit Corp.(the Company), the Servicer of Harley
-Davidson Eaglemark Motorcycle Trust 2003-2 (the Trust), Bank of New York
Midwest Trust Company (BONY), the Indenture Trustee of the Trust, and
Wilmington Trust Company (Wilmington), the Owner Trustee of the Trust,
with respect to certain servicing records of the Company, solely to assist
BONY and Wilmington in determining whether the Company has complied with
certain servicing and reporting requirements of the Sale and Servicing
Agreement dated May 1, 2003 (the Agreement), pertaining to the Trust.
This agreed-upon procedures engagement was performed in accordance with
standards established by the American Institute of Certified
Public Accountants.  The sufficiency of these procedures is solely the
responsibility of the Company, BONY, and Wilmington.  Consequently,
we make no representation regarding the sufficiency of the procedures
described below either for the purpose for which this report has been
requested or for any other purpose.


1. For the randomly selected month of October 2003, we obtained from the
Company's financial management a copy of the Monthly Report dated
November 17, 2003 which is attached as Exhibit A (Monthly Report).  We also
obtained from the Company's financial management a copy of the September 2003
Monthly Report dated October 15, 2003 (Prior Monthly Report) and the August 2003
Monthly Report dated September 15, 2003 (Second Prior Monthly Report).

2. We performed the following procedures to the Monthly Report, which were
applied as indicated with respect to the symbols explained below:

A1 Compared the amount/rate to the Prior Monthly Report and found such
   amount/rate to be in agreement.

A2 Compared the rate to Second Prior Monthly Report and found such rate to
   be in agreement.

B  Compared the amount to schedules prepared by the Company's accounting
   personnel derived from the Company's accounting records and found
   such amount to be in agreement.

C  Compared the amount to a copy of the Bank of New York November 2002
   collection account bank statement provided by the Company's
   financial management and found such amount to be in agreement.

D  Compared the amount to a copy of the Bank of New York October 2002
   reserve account bank statement provided by the Company's
   financial management and found such amount to be in agreement.

E  Compared the amount to a summary schedule provided by the Company's
   financial management and agreed total per the summary schedule to a
   copy of the Bank of New York November 2003 collection account
   statement.

F  Proved the arithmetic accuracy of the addition of the amount
   referenced, without exception.

z  Obtained representations from the Company's management that no
   supporting schedules had been prepared for this item.  Accordingly,
   we did not test these zero balance items.

R(a)Recomputed and agreed amount/rate based on applicable amounts and
   rates shown in the Monthly Report.

R(b) Recomputed and compared amount to copies of the Bank of New York
   October 2003 collection and reserve account bank statements provided
   by the Company's financial management.

R(c)Recomputed and agreed amount based on applicable amounts shown in the
   Company's accounting records.

R(d)Recomputed and agreed amount/rate based on applicable amounts and rates
    shown in the Monthly Report and Agreement.

SSA Compared the rate to the Agreement, and found such rate to be in
   agreement.

We were not engaged to and did not perform an examination, the objective of
which would be an expression of an opinion on the Company's compliance with
the servicing and reporting requirements of the Agreement.  Accordingly, we
do not express such an opinion.  Had we performed additional procedures,
other matters might have come to our attention that would have been reported
to you.

This letter is intended solely for the information and use of the Company,
BONY, and Wilmington, and is not intended to be and should not be used by
anyone other than these specified parties.


Ernst & Young LLP

January 9, 2004


(X) Ernst & Young LLP                 Phone: 312 879 2000
    233 South Wacker Drive
    Sears Tower
    Chicago, Illinois 60606-6301


Report of Independent Accountants on Applying Agreed-Upon Procedures


To the Board of Directors of Harley Davidson Credit Corp.,
Bank of New York Midwest Trust Company, and
 Wilmington Trust Company:


We have performed the procedures enumerated below, which were agreed
to by Harley Davidson Credit Corp.(the Company), the Servicer of Harley-
Davidson Eaglemark Motorcycle Trust 2003-3 (the Trust), Bank of New York
Midwest Trust Company(BONY), the Indenture Trustee of the Trust, and
Wilmington Trust Company (Wilmington), the Owner Trustee of the Trust,
with respect to certain servicing records of the Company, solely to
assist BONY and Wilmington in determining whether the Company has complied
with certain servicing and reporting requirements of the Sale and Servicing
Agreement dated August 1, 2003 (the Agreement), pertaining to the Trust.
This agreed-upon procedures engagement was performed in accordance with
standards established by the American Institute of Certified
Public Accountants.  The sufficiency of the procedures is solely the
responsibility of the Company, BONY, and Wilmington.  Consequently,
we make no representation regarding the sufficiency of the procedures
described below either for the purpose for which this report has been
requested or for any other purpose.


1. For the randomly selected month of October 2003, we obtained from the
Company's financial management a copy of the Monthly Report dated November
17, 2003, which is attached as Exhibit A (Monthly Report).  We also
obtained from the Company's financial management a copy of the September
2003 Monthly Report dated October 15, 2003 (Prior Monthly Report) and the
August 2003 Monthly Report dated September 15, 2003 (Second Prior Monthly
Report).

2. We performed the following procedures to the Monthly Report, which were
applied as indicated with respect to the symbols explained below:

A1 Compared the amount/rate to the Prior Monthly Report and found such
   amount/rate to be in agreement.

A2 Compared the rate to the Second Prior Monthly Report and found such
   rate to be in agreement.

B  Compared the amount to schedules prepared by the Company's accounting
   personnel derived from the Company's accounting records and found
   such amount to be in agreement.

C  Compared the amount to a copy of the Bank of New York November 2003
   collection account bank statement provided by the Company's
   financial management and found such amount to be in agreement.

D  Compared the amount to a copy of the Bank of New York October 2003
   reserve account bank statement provided by the Company's
   financial management and found such amount to be in agreement.

E  Compared the amount to a summary schedule provided by the Company's
   financial management and agreed total per the summary schedule to a
   copy of the Bank of New York November 2003 collection account bank
   statement.

F  Proved the arithmetic accuracy of the addition of the amount
   referenced, without exception.

z  Obtained representations from the Company's management that no
   supporting schedules had been prepared for this item.  Accordingly,
   we did not test these zero balance items.

R(a) Recomputed and agreed amount/rate based on applicable amounts and
     rates shown in the Monthly Report.

R(b) Recomputed and compared amount to copies of the Bank of New York
     October 2003 collection and reserve account bank statements
     provided by the Company's financial management.

R(c) Recomputed and agreed amount based on applicable amounts shown in the
     Company's accounting records.

R(d) Recomputed and agreed amount/rate based on applicable amounts and rates
     shown in the Monthly Report and Agreement.

SSA Compared the rate to the Agreement, and found such rate to be in
   agreement.

We were not engaged to and did not perform an examination, the objective of
which would be an expression of an opinion on the Company's compliance with
the servicing and reporting requirements of the Agreement.  Accordingly, we
do not express such an opinion.  Had we performed additional procedures,
other matters might have come to our attention that would have been reported
to you.

This letter is intended solely for the information and use of the Company,
BONY, and Wilmington, and is not intended to be and should not be used by
anyone other than these specified parties.


Ernst & Young LLP

January 9, 2004


X) Ernst & Young LLP                 Phone: 312 879 2000
    233 South Wacker Drive
    Sears Tower
    Chicago, Illinois 60606-6301


Report of Independent Accountants on Applying Agreed-Upon Procedures


To the Board of Directors of Harley Davidson Credit Corp.,
Bank of New York Midwest Trust Company, and
 Wilmington Trust Company:


We have performed the procedures enumerated below, which were agreed
to by Harley-Davidson Credit Corp.(the Company), the Servicer of Harley
-Davidson Eaglemark Motorcycle Trust 2003-4 (the Trust), Bank of New York
Midwest Trust Company (BONY), the Indenture Trustee of the Trust, and
Wilmington Trust Company (Wilmington), the Owner Trustee of the Trust,
with respect to certain servicing records of the Company, solely to assist
BONY and Wilmington in determining whether the Company has complied with
certain servicing and reporting requirements of the Sale and Servicing
Agreement dated October 1, 2003 (the Agreement), pertaining to the Trust.
This agreed-upon procedures engagement was performed in accordance with
standards established by the American Institute of Certified
Public Accountants.  The sufficiency of these procedures is solely the
responsibility of the Company, BONY, and Wilmington.  Consequently,
we make no representation regarding the sufficiency of the procedures
described below either for the purpose for which this report has been
requested or for any other purpose.


1. For the randomly selected month of October 2003, we obtained from the
Company's financial management a copy of the Monthly Report dated
November 17, 2003 which is attached as Exhibit A (Monthly Report).  We also
obtained from the Company's financial management a copy of the September 2003
Monthly Report dated October 15, 2003 (Prior Monthly Report) and the August 2003
Monthly Report dated September 15, 2003 (Second Prior Monthly Report).

2. We performed the following procedures to the Monthly Report, which were
applied as indicated with respect to the symbols explained below:

A1 Compared the amount/rate to the Prior Monthly Report and found such
   amount/rate to be in agreement.

A2 Compared the rate to Second Prior Monthly Report and found such rate to
   be in agreement.

B  Compared the amount to schedules prepared by the Company's accounting
   personnel derived from the Company's accounting records and found
   such amount to be in agreement.

C  Compared the amount to a copy of the Bank of New York November 2002
   collection account bank statement provided by the Company's
   financial management and found such amount to be in agreement.

D  Compared the amount to a copy of the Bank of New York October 2002
   reserve account bank statement provided by the Company's
   financial management and found such amount to be in agreement.

E  Compared the amount to a summary schedule provided by the Company's
   financial management and agreed total per the summary schedule to a
   copy of the Bank of New York November 2003 collection account
   statement.

F  Proved the arithmetic accuracy of the addition of the amount
   referenced, without exception.

z  Obtained representations from the Company's management that no
   supporting schedules had been prepared for this item.  Accordingly,
   we did not test these zero balance items.

R(a)Recomputed and agreed amount/rate based on applicable amounts and
   rates shown in the Monthly Report.

R(b) Recomputed and compared amount to copies of the Bank of New York
   October 2003 collection and reserve account bank statements provided
   by the Company's financial management.

R(c)Recomputed and agreed amount based on applicable amounts shown in the
   Company's accounting records.

R(d)Recomputed and agreed amount/rate based on applicable amounts and rates
    shown in the Monthly Report and Agreement.

SSA Compared the rate to the Agreement, and found such rate to be in
   agreement.

We were not engaged to and did not perform an examination, the objective of
which would be an expression of an opinion on the Company's compliance with
the servicing and reporting requirements of the Agreement.  Accordingly, we
do not express such an opinion.  Had we performed additional procedures,
other matters might have come to our attention that would have been reported
to you.

This letter is intended solely for the information and use of the Company,
BONY, and Wilmington, and is not intended to be and should not be used by
anyone other than these specified parties.


Ernst & Young LLP

January 9, 2004