| **AMERICAN HONDA FINANCE CORPORATION**                                                                                    |
|---------------------------------------------------------------------------------------------------------------------------|
| Annual Statement to Certificateholder****-- Honda Auto Receivables 2002-1 Owner Trust                                     |
| **04/01/2002  through  03/31/2003**                                                                             |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **I. ORIGINAL DEAL PARAMETER INPUTS**                                                                                     |  |  |  |  |  |  |
|   (A) Total Portfolio Balance                                                                              |  |  |  |  | $2,082,211,927.51 |  |
|   (B) Total Securities Balance                                                                             |  |  |  |  | $2,082,211,927.51 |  |
|   (C) Class A-1 Notes                                                                                      |  |  |  |  |  |  |
|     (i)   Class A-1 Notes Balance                                                           |  |  |  |  | $559,000,000.00 |  |
|     (ii)  Class A-1 Notes Percentage (C(i)/IB)                                              |  |  |  |  | 26.85% |  |
|     (iii) Class A-1 Notes Rate                                                                   |  |  |  |  | 1.82000% |  |
|     (iv) Class A-1 Notes Accrual Basis                                                 |  |  |  |  | Actual/360 |  |
|   (D) Class A-2 Notes                                                                                           |  |  |  |  |  |  |
|     (i)   Class A-2 Notes Balance                                                      |  |  |  |  | $472,000,000.00 |  |
|     (ii)  Class A-2 Notes Percentage (D(i)/IB)                                              |  |  |  |  | 22.67% |  |
|     (iii) Class A-2 Notes Rate                                                                   |  |  |  |  | 2.550% |  |
|     (iv) Class A-2 Notes Accrual Basis                                                      |  |  |  |  | 30/360 |  |
|   (E) Class A-3 Notes                                                                                           |  |  |  |  |  |  |
|     (i)   Class A-3 Notes Balance                                                      |  |  |  |  | $696,000,000.00 |  |
|     (ii)  Class A-3 Notes Percentage (E(i)/B)                                               |  |  |  |  | 33.43% |  |
|     (iii) Class A-3 Notes Rate                                                                   |  |  |  |  | 3.500% |  |
|     (iv) Class A-3 Notes Accrual Basis                                                           |  |  |  |  | 30/360 |  |
|   (F) Class A-4 Notes                                                                                           |  |  |  |  |  |  |
|     (i)   Class A-4 Notes Balance                                                      |  |  |  |  | $303,156,000.00 |  |
|     (ii)  Class A-4 Notes Percentage (F(i)/B)                                               |  |  |  |  | 14.56% |  |
|     (iii) Class A-4 Notes Rate                                                                   |  |  |  |  | 4.220% |  |
|     (iv) Class A-4 Notes Accrual Basis                                                           |  |  |  |  | 30/360 |  |
|   (G) Certificates                                                                                              |  |  |  |  |  |  |
|     (i)   Certificates Balance                                                         |  |  |  |  | $52,055,927.51 |  |
|     (ii)  Certificates Percentage (G(i)/B)                                                  |  |  |  |  | 2.50% |  |
|     (iii) Certificates Rate                                                                      |  |  |  |  | 4.220% |  |
|     (iv) Certificates Accrual Basis                                                              |  |  |  |  | 30/360 |  |
|   (H) Servicing Fee Rate                                                                                        |  |  |  |  | 1.00% |  |
|   (I) Portfolio Summary                                                                                         |  |  |  |  |  |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  |  |  | 6.66% |  |
|     (ii)  Weighted Average Original Maturity (WAOM)                                         |  |  |  |  | 55.66 | months |
|     (iii) Weighted Average Remaining Maturity (WAM)                                              |  |  |  |  | 46.82 | months |
|     (iv) Number of Receivables                                                                   |  |  |  |  | 149,463 |  |
|   (J) Reserve Account                                                                                           |  |  |  |  |  |  |
|     (i)   Reserve Account Initial Deposit Percentage                                   |  |  |  |  | 0.50% |  |
|     (ii)  Reserve Account Initial Deposit                                                   |  |  |  |  | $10,411,059.64 |  |
|     (iii) Specified Reserve Account Percentage                                                        |  |  |  |  | 0.75% |  |
|     (iv) Specified Reserve Account Balance                                                            |  |  |  |  | $10,411,059.64 |  |
|                                                                                                                           |  |  |  |  |  |  |
|   (K) Yield Supplement Account Deposit                                                                     |  |  |  |  | $1,570,025.47 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **II. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS**                                                                     |  |  |  |  |  |  |
|   (A) Total Portfolio Balance                                                                              |  |  |  |  | $1,879,711,241.45 |  |
|   (B) Total Securities Balance                                                                             |  |  |  |  | $1,879,711,241.45 |  |
|   (C) Cumulative Note and Certificate Pool Factor                                                          |  |  |  |  | 0.9027473 |  |
|   (D) Class A-1 Notes                                                                                      |  |  |  |  |   |  |
|     (i)   Class A-1 Notes Balance                                                      |  |  |  |  | $356,499,313.94 |  |
|     (ii)  Class A-1 Notes Pool Factor                                                       |  |  |  |  | 0.6377447 |  |
|     (iii) Class A-1 Notes Interest Carryover Shortfall                                           |  |  |    |  | $0.00 |  |
|     (iv) Class A-1 Notes Principal Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|   (E) Class A-2 Notes                                                                                      |  |  |  |  |   |  |
|     (i)   Class A-2 Notes Balance                                                      |  |  |  |  | $472,000,000.00 |  |
|     (ii)  Class A-2 Notes Pool Factor                                                       |  |  |  |  | 1.0000000 |  |
|     (iii) Class A-2 Notes Interest Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|     (iv) Class A-2 Notes Principal Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|   (F) Class A-3 Notes                                                                                           |  |  |  |  |  |  |
|     (i)   Class A-3 Notes Balance                                                      |  |  |  |  | $696,000,000.00 |  |
|     (ii)  Class A-3 Notes Pool Factor                                                       |  |  |  |  | 1.0000000 |  |
|     (iii) Class A-3 Notes Interest Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|     (iv) Class A-3 Notes Principal Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|   (G) Class A-4 Notes                                                                                           |  |  |  |  |  |  |
|     (i)   Class A-4 Notes Balance                                                      |  |  |  |  | $303,156,000.00 |  |
|     (ii)  Class A-4 Notes Pool Factor                                                       |  |  |  |  | 1.0000000 |  |
|     (iii) Class A-4 Notes Interest Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|     (iv) Class A-4 Notes Principal Carryover Shortfall                                           |  |  |  |  | $0.00 |  |
|   (H) Certificates                                                                                              |  |  |  |  |  |  |
|     (i)   Certificates Balance                                                         |  |  |  |  | $52,055,927.51 |  |
|     (ii)  Certificates Pool Factor                                                          |  |  |  |  | 1.0000000 |  |
|     (iii) Certificates Interest Carryover Shortfall                                              |  |  |  |  | $0.00 |  |
|     (iv) Certificates Principal Carryover Shortfall                                              |  |  |  |  | $0.00 |  |
|   (I) Servicing Fee                                                                                             |  |  |  |  |  |  |
|     (i)   Servicing Fee Shortfall                                                      |  |  |  |  | $0.00 |  |
|   (J) End of Prior Month Account Balances                                                                       |  |  |  |  |  |  |
|     (i)   Reserve Account                                                              |  |  |  |  | $14,609,033.99 |  |
|     (ii)   Yield Supplement Account                                                    |  |  |  |  | $1,208,025.93 |  |
|     (iii) Payahead Account                                                                            |  |  |  |  | $86,827.39 |  |
|     (iv) Advances Outstanding                                                                         |  |  |  |  | $1,127,408.51 |  |
|   (K) Portfolio Summary as of End of Prior Year                                                                 |  |  |  |  |   |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  |  |  | 6.66% |  |
|     (ii)  Weighted Average Remaining Maturity (WAM)                                         |  |  |  |  | 44.02 | months |
|     (iii) Number of Receivables                                                                  |  |  |  |  | 143,834 |  |
|   (L) Note and Certificate Percentages                                                                          |  |  |  |  |   |  |
|     (i)   Note Percentage                                                              |  |  |  |  | 100.00% |  |
|     (ii)  Certificate Percentage                                                                 |  |  |  |  | 0.00% |  |
|                                                                                                                           |  |  |  |  |  |  |
| **III. INPUTS FROM THE MAINFRAME**                                                                                        |  |  |  |  |  |  |
|   (A) Precomputed Contracts Principal                                                                      |  |  |  |  |  |  |
|     (i)   Scheduled Principal Collections                                              |  |  |  |  | $4,205,093.51 |  |
|     (ii)  Prepayments in Full                                                               |  |  |  |  | $1,773,954.75 |  |
|     (iii) Prepayments in Full due to Repurchases                                                 |  |  |  |  | $0.00 |  |
|   (B) Precomputed Contracts Total Collections                                                              |  |  |  |  | $6,567,802.93 |  |
|   (C) Precomputed Interest Receivables Interest (B-A((I)+(ii)+(iii)))                                 |  |  |  |  | $588,754.67 |  |
|   (D) Simple Interest Receivables Principal                                                                |  |  |  |  | $0 |  |
|     (i)   Principal Collections                                                        |  |  |  |  | $485,744,311.33 |  |
|     (ii)  Prepayments in Full                                                               |  |  |  |  | $264,828,450.77 |  |
|     (iii) Repurchased Receivables Related to Principal                                           |  |  |  |  | $0.00 |  |
|   (E) Simple Interest Receivables Interest                                                                      |  |  |  |  |   |  |
|     (i)   Simple Interest Collections                                                  |  |  |  |  | $100,443,852.54 |  |
|   (F) Payment Advance for Precomputes                                                                      |  |  |  |  |   |  |
|     (i) Reimbursement of Previous Advances                                                       |  |  |  |  | $234,001.35 |  |
|     (ii) Current Advance Amount                                                                  |  |  |  |  | $215,873.76 |  |
|   (G) Interest Advance for simple Interest - Net                                                           |  |  |  |  | ($305,400.84) |  |
|   (H) Payahead Account                                                                                          |  |  |  |  |   |  |
|     (i)  Payments Applied                                                                   |  |  |  |  | $403,686.77 |  |
|     (ii) Additional Payaheads                                                                         |  |  |  |  | $407,648.63 |  |
|   (I) Portfolio Summary as of End of Month                                                                      |  |  |  |  |   |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  |  |  | 6.69% |  |
|     (ii)  Weighted Average Remaining Maturity (WAM)                                         |  |  |  |   | 33.67 | months |
|     (iii) Remaining Number of Receivables                                                        |  |  |  |  | 113,227 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |
|   (J) Delinquent Receivables                                                                                    |  | #  Units |  | Dollar Amount |  |  |
|     (i)  31-60 Days Delinquent                                                              | 2,431 |  | 2.15% | $26,042,047.40 |  | 2.35% |
|     (ii)  61-90 Days Delinquent                                                             | 437 |  | 0.39% | $4,720,642.02 |  | 0.43% |
|     (ii) 91 Days or More Delinquent                                                              | 71 |  | 0.06% | $787,359.87 |  | 0.07% |
|   (K) Vehicles Repossessed During Collection Period                                                             | 92 |  | 0.08% | $1,118,246.59 |  | 0.10% |
|   (L) Total Accumulated Repossessed Vehicles in Inventory                                                       | 190 |  | 0.17% | $2,087,638.90 |  | 0.19% |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **IV. INPUTS DERIVED FROM OTHER SOURCES**                                                                                 |  |  |  |  |  |  |
|   (A) Collection Account Investment Income                                                                      |  |  |  |  | $0.00 |  |
|   (B) Reserve Account Investment Income                                                                         |  |  |  |  | $171,092.36 |  |
|   (C) Yield Supplement Account Investment Income                                                                |  |  |  |  | $11,111.33 |  |
|   (D) Trust Fees Expense                                                                                        |  |  |  |  | $6,000.00 |  |
|   (E) Aggregate Net Losses for Collection Period                                                           |  |  |  |  | $7,931,116.94 |  |
|   (F) Liquidated Receivables Information                                                                        |  |  |  |  |   |  |
|     (i) Gross Principal Balance on Liquidated Receivables                                             |  |  |  |  | $13,163,699.47 |  |
|     (ii) Liquidation Proceeds                                                                    |  |  |  |  | 3,529,452.53 |  |
|     (ii) Recoveries from Prior Month Charge Offs                                                 |  |  |  |  | $1,703,130.00 |  |
|   (G) Days in Accrual Period                                                                                    |  |  |  |  | 365 |  |
|   (H) Deal age                                                                                                  |  |  |  |  | 15 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **COLLECTIONS**                                                                                                           |
|                                                                                                                           |  |  |  |  |  |  |
| **V. INTEREST COLLECTIONS**                                                                                               |  |  |  |  |  |  |
|   (A) Total Interest Collections  (III(C+E(i)-F(i)+F(ii)+G)                                                |  |  |  |  | $100,709,078.78 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **VI. PRINCIPAL COLLECTIONS **                                                                                       |  |  |  |  |   |  |
|   (A) Principal Payments Received  (III(A((i)+(ii))+(D(i)+(ii)))                                      |  |  |  |  | $756,551,810.36 |  |
|   (B) Liquidation Proceeds  (IV(F(i)))                                                                |  |  |  |  | 3,529,452.53 |  |
|   (C) Repurchased Loan Proceeds Related to Principal  (III(A(iii)+D(iii)))                            |  |  |  |  | 0.00 |  |
|   (D) Recoveries from Prior Month Charge Offs (IV(F(ii)))                                                       |  |  |  |  | 1,703,130.00 |  |
|   (E) Total Principal Collections   (A+B+C+D)                                                    |  |  |  |  |                            761,784,392.89 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **VII. TOTAL INTEREST AND PRINCIPAL COLLECTIONS  (V(A)+VI(E)) **                                                |  |  |  |  |                            862,493,471.67 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **VIII. YIELD SUPPLEMENT DEPOSIT**                                                                                        |  |  |  |  | $906,301.03 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **IX. TOTAL AVAILABLE AMOUNT (VII+VIII) **                                                                           |  |  |  |  |                            863,399,772.70 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **DISTRIBUTIONS**                                                                                                         |
|                                                                                                                           |  |  |  |  |  |  |
| **X. FEE DISTRIBUTIONS**                                                                                                  |  |  |  |  |  |  |
|   (A) Servicing Fee                                                                                        |  |  |  |  |  |  |
|     (i)   Servicing Fee Due  (I(H)/12)(II(B))+(II(H)(i))                               |  |  |  |  | $15,177,357.03 |  |
|     (ii)  Servicing Fee Paid                                                                |  |  |  |  | $15,177,357.03 |  |
|     (iii) Servicing Fee Shortfall                                                           |  |  |  |  | $0.00 |  |
|   (B) Reserve Account Investment Income (IV(B))                                                                 |  |  |  |  |                                  171,092.36 |  |
|   (C) Yield Supplement Account Investment Income  (IV(C))                                                  |  |  |  |  |                                     11,111.33 |  |
|   (D) Trust Fees Expense (IV(D))                                                                                |  |  |  |  |                                       6,000.00 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XI. DISTRIBUTIONS TO NOTEHOLDERS**                                                                                      |  |  |  |  |  |  |
|   (A) Interest                                                                                                  |  |  |  |  |  |  |
|     (i) Class A-1 Notes                                                                               |  |  |  |  |  |  |
|        (a)   Class A-1 Notes Interest Due                               |  |  |  |  | $1,754,565.78 |  |
|        (b)  Class A-1 Notes Interest Paid                                         |  |  |  |  | 1,754,565.78 |  |
|        (c) Class A-1 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (ii) Class A-2 Notes                                                                         |  |  |  |  |   |  |
|        (a)   Class A-2 Notes Interest Due                               |  |  |  |  | $9,558,050.95 |  |
|        (b)   Class A-2 Notes Interest Paid                                        |  |  |  |  | 9,558,050.95 |  |
|        (c) Class A-2 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (iii) Class A-3 Notes                                                                        |  |  |  |  |   |  |
|        (a)   Class A-3 Notes Interest Due                               |  |  |  |  | $24,360,000.00 |  |
|        (b)  Class A-3 Notes Interest Paid                                         |  |  |  |  | 24,360,000.00 |  |
|        (c) Class A-3 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (iv) Class A-4 Notes                                                                         |  |  |  |  |   |  |
|        (a)   Class A-4 Notes Interest Due                               |  |  |  |  | $12,793,183.20 |  |
|        (b)  Class A-4 Notes Interest Paid                                         |  |  |  |  | 12,793,183.20 |  |
|        (c) Class A-4 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (v) Total Note Interest                                                                 |  |  |  |  |   |  |
|        (a)   Total Note Interest Due                                    |  |  |  |  | $48,465,799.93 |  |
|        (b)  Total Note Interest Paid                                              |  |  |  |  | 48,465,799.93 |  |
|        (c) Total Note Interest Shortfall                                               |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund Withdrawn for Note Interest                          |  |  |  |  | $0.00 |  |
| Amount available for distributions after Fees & Interest (IX-(X(A)(ii)-(D))-XI(A)(v)(b))                              |  |  |  |                            799,750,615.74 |  |
|   (B) Principal                                                                                                 |  |  |  |  |  |  |
|     (i) Noteholders' Principal Distribution Amounts                                              |  |  |  |  | $757,098,873.63 |  |
|     (ii) Class A-1 Notes Principal                                                               |  |  |  |  |  |  |
|        (a)   Class A-1 Notes Principal Due                              |  |  |  |  |                            356,499,313.94 |  |
|        (b)  Class A-1 Notes Principal Paid                                        |  |  |  |  | 356,499,313.94 |  |
|        (c) Class A-1 Notes Principal Shortfall                                         |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund drawn                                                     |  |  |  |  | $0.00 |  |
|     (iii) Class A-2 Notes Principal                                                              |  |  |  |  |   |  |
|        (a)   Class A-2 Notes Principal Due                              |  |  |  |  | $400,599,559.69 |  |
|        (b)  Class A-2 Notes Principal Paid                                        |  |  |  |  | $400,599,559.69 |  |
|        (c) Class A-2 Notes Principal Shortfall                                         |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund drawn                                                     |  |  |  |  | $0.00 |  |
|     (iv) Class A-3 Notes Principal                                                               |  |  |  |  |   |  |
|        (a)   Class A-3 Notes Principal Due                              |  |  |  |  | $0.00 |  |
|        (b)  Class A-3 Notes Principal Paid                                        |  |  |  |  | $0.00 |  |
|        (c) Class A-3 Notes Principal Shortfall                                         |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund drawn                                                     |  |  |  |  | $0.00 |  |
|     (v) Class A-4 Notes Principal                                                                |  |  |  |  |   |  |
|        (a)   Class A-4 Notes Principal Due                              |  |  |  |  | $0.00 |  |
|        (b)  Class A-4 Notes Principal Paid                                        |  |  |  |  | $0.00 |  |
|        (c) Class A-4 Notes Principal Shortfall                                         |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund drawn                                                     |  |  |  |  | $0.00 |  |
|     (vi) Total Notes Principal                                                                   |  |  |  |  |   |  |
|        (a)   Total Notes Principal Due                                  |  |  |  |  | $757,098,873.63 |  |
|        (b)  Total Notes Principal Paid                                            |  |  |  |  | 757,098,873.63 |  |
|        (c) Total Notes Principal Shortfall                                             |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund drawn                                                     |  |  |  |  | $0.00 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XII. RESERVE FUND DEPOSIT**                                                                                             |  |  |  |  |  |  |
|   Amount available for deposit into reserve account                                                             |  |  |  |  | $42,651,742.11 |  |
|   Amount deposited into reserve Account                                                                         |  |  |  |  | 0.00 |  |
|   Excess Amount Release from Reserve Account                                                                    |  |  |  |  | 4,197,974.35 |  |
|   Excess funds available to Certificateholders                                                                  |  |  |  |  | 46,849,716.46 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XIII. DISTRIBUTIONS TO CERTIFICATEHOLDERS**                                                                             |  |  |  |  |  |  |
|   (A) Interest                                                                                                  |  |  |  |  |  |  |
|      (i)   Certificate Interest Due                                               |  |  |  |  | $2,084,654.10 |  |
|      (ii)   Certificate Interest Shortfall Beginning Balance                           |  |  |  |  | $0.00 |  |
|      (iii)   Total Certificate Interest Due                                            |  |  |  |  | $2,084,654.10 |  |
|      (iv)  Certificate Interest Paid                                                        |  |  |  |  | 2,084,654.10 |  |
|      (v) Certificate Interest Shortfall Ending Balance                                           |  |  |  |  | $0.00 |  |
|   (B) Principal                                                                                                 |  |  |  |  |   |  |
|      (i)   Certificate Principal Due                                              |  |  |  |  | $12,616,636.20 |  |
|      (ii)   Certificate Principal Shortfall Beginning Balance                          |  |  |  |  | $0.00 |  |
|      (iii)   Total Certificate Principal Due                                      |  |  |  |  | $12,616,636.20 |  |
|      (iv)  Certificate Principal Paid                                                  |  |  |  |  | 12,616,636.20 |  |
|      (v) Certificate Principal Shortfall Ending Balance                                          |  |  |  |  | $0.00 |  |
|   (C) Release to Seller                                                                                         |  |  |  |  | $32,148,426.16 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **DISTRIBUTIONS SUMMARY**                                                                                                 |
|                                                                                                                           |  |  |  |  |  |  |
|   (A) Total Collections                                                                                    |  |  |  |  | $863,399,772.70 |  |
|   (B) Service Fee                                                                                               |  |  |  |  | $15,177,357.03 |  |
|   (C) Trustee Fees                                                                                              |  |  |  |  | $6,000.00 |  |
|   (D) Class A1 Amount                                                                                           |  |  |  |  | $358,253,879.72 |  |
|   (E) Class A2 Amount                                                                                           |  |  |  |  | $410,157,610.64 |  |
|   (F) Class A3 Amount                                                                                           |  |  |  |  | $24,360,000.00 |  |
|   (G) Class A4 Amount                                                                                           |  |  |  |  | $12,793,183.20 |  |
|   (H) Amount Deposited into Reserve Account                                                                |  |  |  |  | $0.00 |  |
|   (I) Certificateholders                                                                                        |  |  |  |  | $14,701,290.30 |  |
|   (J) Release to seller                                                                                         |  |  |  |  | $32,148,426.16 |  |
|   (K) Total amount distributed                                                                                  |  |  |  |  | $867,597,747.05 |  |
|   (L) Amount of Draw from Reserve Account                                                                  |  |  |  |  | 0.00 |  |
|   (M) Excess Amount Released from Reserve Account                                                               |  |  |  |  | 4,197,974.35 |  |
|                                                                                                                           |  |  |   |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **PORTFOLIO AND SECURITY SUMMARY**                                                                                        |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XIV. POOL BALANCES AND PORTFOLIO INFORMATION**                                                                          |  |  |  |  |  |  |
|   (A) Balances and Principal Factors                                                                       |  |  | Beginning of Period |  | End of Period |  |
|     (i)    Aggregate Balance of Notes                                             |  |  | $1,827,655,313.94 |  | $1,070,556,440.31 |  |
|     (ii)   Note Pool Factor                                                            |  |  | 0.9002536 |  | 0.5273272 |  |
|     (iii)  Class A-1 Notes Balance                                                          |  |  | 356,499,313.94 |  | 0.00 |  |
|     (iv)   Class A-1 Notes Pool Factor                                                 |  |  | 0.6377447 |  | 0.0000000 |  |
|     (v)    Class A-2 Notes Balance                                                |  |  | 472,000,000.00 |  | 71,400,440.31 |  |
|     (vi)   Class A-2 Notes Pool Factor                                                 |  |  | 1.0000000 |  | 0.1512721 |  |
|     (vii)  Class A-3 Notes Balance                                                          |  |  | 696,000,000.00 |  | 696,000,000.00 |  |
|     (viii) Class A-3 Notes Pool Factor                                                           |  |  | 1.0000000 |  | 1.0000000 |  |
|     (ix)  Class A-4 Notes Balance                                                           |  |  | 303,156,000.00 |  | 303,156,000.00 |  |
|     (x) Class A-4 Notes Pool Factor                                                              |  |  | 0.0000000 |  | 1.0000000 |  |
|     (xi)   Certificates Balance                                                        |  |  | 52,055,927.51 |  | 39,439,291.31 |  |
|     (xii)    Certificates Pool Factor                                             |  |  | 1.0000000 |  | 0.7576331 |  |
|     (xiii)   Total Principal Balance of Notes and Certificates                         |  |  | 1,879,711,241.45 |  | 1,109,995,731.62 |  |
|                                                                                                                           |  |  |   |  |   |  |
|   (B) Portfolio Information                                                                                     |  |  |   |  |   |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  | 6.66% |  | 6.69% |  |
|     (ii)  Weighted Average Remaining Maturity (WAM)                                    |  |  | 44.02 | months | 33.67 | months |
|     (iii) Remaining Number of Receivables                                                        |  |  | 143,834 |  | 113,227 |  |
|     (iv)  Portfolio Receivable Balance                                                      |  |  | $1,879,711,241.45 |  | $1,109,995,731.62 |  |
|   (C) Outstanding Advance Amount                                                                                |  |  | $1,127,408.51 |  | $803,880.08 |  |
|   (D) Outstanding Payahead Balance                                                                              |  |  | $86,827.39 |  | $90,789.25 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **SUMMARY OF ACCOUNTS**                                                                                                   |
|                                                                                                                           |  |  |  |  |  |  |
| **XV. RECONCILIATION OF RESERVE ACCOUNT**                                                                                 |  |  |  |  |  |  |
|   (A) Beginning Reserve Account Balance                                                                    |  |  |  |  | $14,609,033.99 |  |
|   (B) Draws                                                                                                |  |  |  |  | 0.00 |  |
|     (i)   Draw for Servicing Fee                                                       |  |  |  |  | 0.00 |  |
|     (ii)  Draw for Interest                                                                 |  |  |  |  | 0.00 |  |
|     (iii) Draw for Realized Losses                                                               |  |  |  |  | 0.00 |  |
|   (C) Excess Interest Deposited into the Reserve Account                                                   |  |  |  |  | 0.00 |  |
|   (D) Reserve Account Balance Prior to Release                                                             |  |  |  |  | 14,609,033.99 |  |
|   (E) Reserve Account Required Amount                                                                      |  |  |  |  | 10,411,059.64 |  |
|   (F) Final Reserve Account Required Amount                                                                |  |  |  |  | 10,411,059.64 |  |
|   (G) Excess Reserve Account Amount                                                                        |  |  |  |  | 4,197,974.35 |  |
|   (H) Ending Reserve Account Balance                                                                       |  |  |  |  | 10,411,059.64 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **XVI. RECONCILIATION OF YIELD SUPPLEMENT ACCOUNT**                                                                       |  |  |  |  |   |  |
|   (A) Beginning Yield Supplement Account Balance                                                                |  |  |  |  | 1,208,025.93 |  |
|   (B) Investment Earnings                                                                                       |  |  |  |  | 11,111.33 |  |
|   (C) Investment Earnings Withdraw                                                                              |  |  |  |  | 11,111.33 |  |
|   (D) Additional Yield Supplement Amounts                                                                       |  |  |  |  | 0.00 |  |
|   (E) Yield Supplement Deposit Amount                                                                           |  |  |  |  | 906,301.03 |  |
|   (F) Ending Yield Supplement Account Balance                                                                   |  |  |  |  | 301,724.90 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XVII. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY**                                                                       |  |  |  |  |  |  |
|   (A) Liquidated Contracts                                                                                 |  |  |  |  |  |  |
|     (i)   Liquidation Proceeds                                                              |  |  |  |  | $3,529,452.53 |  |
|     (ii) Recoveries on Previously Liquidated Contracts                                           |  |  |  |  | 1,703,130.00 |  |
|   (B) Aggregate Net Losses for Collection Period                                                           |  |  |  |  | 7,931,116.94 |  |
|   (C) Net Loss Rate for Collection Period (annualized)                                                     |  |  |  |  | 0.53% |  |
|   (D) Cumulative Net Losses for all Periods                                                                |  |  |  |  | 8,110,158.75 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |
|   (E) Delinquent Receivables                                                                               |  | #  Units |  | Dollar Amount |  |  |
|     (i)  31-60 Days Delinquent                                                              | 2,431 |  | 2.15% | $26,042,047.40 |  | 2.35% |
|     (ii)  61-90 Days Delinquent                                                             | 437 |  | 0.39% | $4,720,642.02 |  | 0.43% |
|     (ii) 91 Days or More Delinquent                                                              | 71 |  | 0.06% | $787,359.87 |  | 0.07% |
|                                                                                                                           |  |  |  |  |  |  |
| **XVIII. REPOSSESSION ACTIVITY**                                                                                          |  |  |  |
|                                                                                                                           |  | #  Units |  | Dollar Amount |  |  |
|   (A) Vehicles Repossessed During Collection Period                                                             | 92 |  | 0.08% | $1,118,246.59 |  | 0.10% |
|   (B) Total Accumulated Repossessed Vehicles in Inventory                                                       | 190 |  | 0.17% | $2,087,638.90 |  | 0.19% |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XIX. TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNT BALANCE**                                                          |  |  |  |  |  |
|   (A) Ratio of Net Losses to the Pool Balance as of Each Collection Period                                      |  |  |  |  |  |  |
|     (i) Second Preceding Collection Period                                                       |  |  |  |  | 0.66% |  |
|     (ii) Preceding Collection Period                                                             |  |  |  |  | 0.66% |  |
|     (iii) Current Collection Period                                                              |  |  |  |  | 0.53% |  |
|     (iv) Three Month Average (Avg(i,ii,iii))                                                     |  |  |  |  | 0.61% |  |
|   (B) Ratio of Balance of Contracts Delinquent 60 Days or More to the Outstanding Balance of Receivables.  |  |  |  |
|     (i) Second Preceding Collection Period                                                       |  |  |  |  | 0.79% |  |
|     (ii) Preceding Collection Period                                                             |  |  |  |  | 0.68% |  |
|     (iii) Current Collection Period                                                              |  |  |  |  | 0.62% |  |
|     (iv) Three Month Average (Avg(i,ii,iii))                                                     |  |  |  |  | 0.70% |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
|   (C) Loss and Delinquency Trigger Indicator                                                               |  |  |  |  | Trigger was not hit. |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| I hereby certify that the servicing report provided is true                                                               |  |  |  |  |  |  |
| and accurate to the best of my knowledge.                                                                                 |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| By:                                                                                                                       |  |  |  |  |  |  |
| **/s/ John I. Weisickle**                                                                                                 |  |  |  |  |  |  |
| **John I. Weisickle, Vice President**                                                                                     |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |