| **AMERICAN HONDA FINANCE CORPORATION**                                                                                    |
|---------------------------------------------------------------------------------------------------------------------------|
| Annual Statement to Certificateholder****-- Honda Auto Receivables 2001-2 Owner Trust                                     |
| **04/01/2002  through  03/31/2003**                                                                             |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **I. ORIGINAL DEAL PARAMETER INPUTS**                                                                                     |  |  |  |  |  |  |
|   (A) Total Portfolio Balance                                                                              |  |  |  |  | $1,618,603,016.50 |  |
|   (B) Total Securities Balance                                                                             |  |  |  |  | $1,618,603,016.50 |  |
|   (C) Class A-1 Notes                                                                                      |  |  |  |  |  |  |
|     (i)   Class A-1 Notes Balance                                                           |  |  |  |  | $440,000,000.00 |  |
|     (ii)  Class A-1 Notes Percentage (C(i)/IB)                                              |  |  |  |  | 27.18% |  |
|     (iii) Class A-1 Notes Rate                                                                   |  |  |  |  | 3.73000% |  |
|     (iv) Class A-1 Notes Accrual Basis                                                 |  |  |  |  | Actual/360 |  |
|   (D) Class A-2 Notes                                                                                           |  |  |  |  |  |  |
|     (i)   Class A-2 Notes Balance                                                      |  |  |  |  | $410,000,000.00 |  |
|     (ii)  Class A-2 Notes Percentage (D(i)/IB)                                              |  |  |  |  | 25.33% |  |
|     (iii) Class A-2 Notes Rate                                                                   |  |  |  |  | 4.110% |  |
|     (iv) Class A-2 Notes Accrual Basis                                                      |  |  |  |  | 30/360 |  |
|   (E) Class A-3 Notes                                                                                           |  |  |  |  |  |  |
|     (i)   Class A-3 Notes Balance                                                      |  |  |  |  | $520,000,000.00 |  |
|     (ii)  Class A-3 Notes Percentage (E(i)/B)                                               |  |  |  |  | 32.13% |  |
|     (iii) Class A-3 Notes Rate                                                                   |  |  |  |  | 4.670% |  |
|     (iv) Class A-3 Notes Accrual Basis                                                           |  |  |  |  | 30/360 |  |
|   (F) Class A-4 Notes                                                                                           |  |  |  |  |  |  |
|     (i)   Class A-4 Notes Balance                                                      |  |  |  |  | $204,000,000.00 |  |
|     (ii)  Class A-4 Notes Percentage (F(i)/B)                                               |  |  |  |  | 12.60% |  |
|     (iii) Class A-4 Notes Rate                                                                   |  |  |  |  | 5.090% |  |
|     (iv) Class A-4 Notes Accrual Basis                                                           |  |  |  |  | 30/360 |  |
|   (G) Certificates                                                                                              |  |  |  |  |  |  |
|     (i)   Certificates Balance                                                         |  |  |  |  | $44,603,016.50 |  |
|     (ii)  Certificates Percentage (G(i)/B)                                                  |  |  |  |  | 2.76% |  |
|     (iii) Certificates Rate                                                                      |  |  |  |  | 5.090% |  |
|     (iv) Certificates Accrual Basis                                                              |  |  |  |  | 30/360 |  |
|   (H) Servicing Fee Rate                                                                                        |  |  |  |  | 1.00% |  |
|   (I) Portfolio Summary                                                                                         |  |  |  |  |  |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  |  |  | 7.13% |  |
|     (ii)  Weighted Average Original Maturity (WAOM)                                         |  |  |  |  | 55.79 | months |
|     (iii) Weighted Average Remaining Maturity (WAM)                                              |  |  |  |  | 43.59 | months |
|     (iv) Number of Receivables                                                                   |  |  |  |  | 131,711 |  |
|   (J) Reserve Account                                                                                           |  |  |  |  |  |  |
|     (i)   Reserve Account Initial Deposit Percentage                                   |  |  |  |  | 0.50% |  |
|     (ii)  Reserve Account Initial Deposit                                                   |  |  |  |  | $8,093,015.08 |  |
|     (iii) Specified Reserve Account Percentage                                                        |  |  |  |  | 0.75% |  |
|     (iv) Specified Reserve Account Balance                                                            |  |  |  |  | $8,093,015.08 |  |
|                                                                                                                           |  |  |  |  |  |  |
|   (K) Yield Supplement Account Deposit                                                                     |  |  |  |  | $3,859,646.81 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **II. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS**                                                                     |  |  |  |  |  |  |
|   (A) Total Portfolio Balance                                                                              |  |  |  |  | $1,106,070,054.49 |  |
|   (B) Total Securities Balance                                                                             |  |  |  |  | $1,106,070,054.49 |  |
|   (C) Cumulative Note and Certificate Pool Factor                                                          |  |  |  |  | 0.6833486 |  |
|   (D) Class A-1 Notes                                                                                      |  |  |  |  |   |  |
|     (i)   Class A-1 Notes Balance                                                      |  |  |  |  | $0.00 |  |
|     (ii)  Class A-1 Notes Pool Factor                                                       |  |  |  |  | 0.0000000 |  |
|     (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                                                      |  |  |  |  | $339,573,988.20 |  |
|     (ii)  Class A-2 Notes Pool Factor                                                       |  |  |  |  | 0.8282292 |  |
|     (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                                                      |  |  |  |  | $520,000,000.00 |  |
|     (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                                                      |  |  |  |  | $204,000,000.00 |  |
|     (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                                                         |  |  |  |  | $42,496,066.29 |  |
|     (ii)  Certificates Pool Factor                                                          |  |  |  |  | 0.9527622 |  |
|     (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                                                              |  |  |  |  | $8,713,571.08 |  |
|     (ii)   Yield Supplement Account                                                    |  |  |  |  | $1,713,755.91 |  |
|     (iii) Payahead Account                                                                            |  |  |  |  | $88,548.83 |  |
|     (iv) Advances Outstanding                                                                         |  |  |  |  | $941,812.46 |  |
|   (K) Portfolio Summary as of End of Prior Year                                                                 |  |  |  |  |   |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  |  |  | 7.14% |  |
|     (ii)  Weighted Average Remaining Maturity (WAM)                                         |  |  |  |  | 35.90 | months |
|     (iii) Number of Receivables                                                                  |  |  |  |  | 111,881 |  |
|   (L) Note and Certificate Percentages                                                                          |  |  |  |  |   |  |
|     (i)   Note Percentage                                                              |  |  |  |  | 96.22% |  |
|     (ii)  Certificate Percentage                                                                 |  |  |  |  | 3.78% |  |
|                                                                                                                           |  |  |  |  |  |  |
| **III. INPUTS FROM THE MAINFRAME**                                                                                        |  |  |  |  |  |  |
|   (A) Precomputed Contracts Principal                                                                      |  |  |  |  |  |  |
|     (i)   Scheduled Principal Collections                                              |  |  |  |  | $3,835,025.25 |  |
|     (ii)  Prepayments in Full                                                               |  |  |  |  | $1,584,599.87 |  |
|     (iii) Prepayments in Full due to Repurchases                                                 |  |  |  |  | $0.00 |  |
|   (B) Precomputed Contracts Total Collections                                                              |  |  |  |  | $5,914,758.44 |  |
|   (C) Precomputed Interest Receivables Interest (B-A((I)+(ii)+(iii)))                                 |  |  |  |  | $495,133.32 |  |
|   (D) Simple Interest Receivables Principal                                                                |  |  |  |  |  |  |
|     (i)   Principal Collections                                                        |  |  |  |  | $349,040,618.92 |  |
|     (ii)  Prepayments in Full                                                               |  |  |  |  | $194,391,214.70 |  |
|     (iii) Repurchased Receivables Related to Principal                                           |  |  |  |  | $0.00 |  |
|   (E) Simple Interest Receivables Interest                                                                      |  |  |  |  |   |  |
|     (i)   Simple Interest Collections                                                  |  |  |  |  | $59,401,683.40 |  |
|   (F) Payment Advance for Precomputes                                                                      |  |  |  |  |   |  |
|     (i) Reimbursement of Previous Advances                                                       |  |  |  |  | $255,964.54 |  |
|     (ii) Current Advance Amount                                                                  |  |  |  |  | $217,597.75 |  |
|   (G) Interest Advance for simple Interest - Net                                                           |  |  |  |  | ($406,069.11) |  |
|   (H) Payahead Account                                                                                          |  |  |  |  |   |  |
|     (i)  Payments Applied                                                                   |  |  |  |  | $345,513.96 |  |
|     (ii) Additional Payaheads                                                                         |  |  |  |  | $298,073.68 |  |
|   (I) Portfolio Summary as of End of Month                                                                      |  |  |  |  |   |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  |  |  | 7.26% |  |
|     (ii)  Weighted Average Remaining Maturity (WAM)                                         |  |  |  |   | 26.26 | months |
|     (iii) Remaining Number of Receivables                                                        |  |  |  |  | 77,700 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |
|   (J) Delinquent Receivables                                                                                    |  | #  Units |  | Dollar Amount |  |  |
|     (i)  31-60 Days Delinquent                                                              | 1,854 |  | 2.39% | $15,525,423.29 |  | 2.83% |
|     (ii)  61-90 Days Delinquent                                                             | 323 |  | 0.42% | $3,061,800.44 |  | 0.56% |
|     (ii) 91 Days or More Delinquent                                                              | 62 |  | 0.08% | $555,083.90 |  | 0.10% |
|   (K) Vehicles Repossessed During Collection Period                                                             | 28 |  | 0.04% | $310,963.94 |  | 0.06% |
|   (L) Total Accumulated Repossessed Vehicles in Inventory                                                       | 79 |  | 0.10% | $728,385.60 |  | 0.13% |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **IV. INPUTS DERIVED FROM OTHER SOURCES**                                                                                 |  |  |  |  |  |  |
|   (A) Collection Account Investment Income                                                                      |  |  |  |  | $0.00 |  |
|   (B) Reserve Account Investment Income                                                                         |  |  |  |  | $116,443.60 |  |
|   (C) Yield Supplement Account Investment Income                                                                |  |  |  |  | $15,459.91 |  |
|   (D) Trust Fees Expense                                                                                        |  |  |  |  | $6,000.00 |  |
|   (E) Aggregate Net Losses for Collection Period                                                           |  |  |  |  | $3,608,264.27 |  |
|   (F) Liquidated Receivables Information                                                                        |  |  |  |  |   |  |
|     (i) Gross Principal Balance on Liquidated Receivables                                             |  |  |  |  | $7,795,973.70 |  |
|     (ii) Liquidation Proceeds                                                                    |  |  |  |  | 2,007,872.63 |  |
|     (ii) Recoveries from Prior Month Charge Offs                                                 |  |  |  |  | $2,179,836.80 |  |
|   (G) Days in Accrual Period                                                                                    |  |  |  |  | 365 |  |
|   (H) Deal age                                                                                                  |  |  |  |  | 21 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **COLLECTIONS**                                                                                                           |
|                                                                                                                           |  |  |  |  |  |  |
| **V. INTEREST COLLECTIONS**                                                                                               |  |  |  |  |  |  |
|   (A) Total Interest Collections  (III(C+E(i)-F(i)+F(ii)+G)                                                |  |  |  |  | $59,452,380.82 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **VI. PRINCIPAL COLLECTIONS **                                                                                       |  |  |  |  |   |  |
|   (A) Principal Payments Received  (III(A((i)+(ii))+(D(i)+(ii)))                                      |  |  |  |  | $548,851,458.74 |  |
|   (B) Liquidation Proceeds  (IV(F(i)))                                                                |  |  |  |  | 2,007,872.63 |  |
|   (C) Repurchased Loan Proceeds Related to Principal  (III(A(iii)+D(iii)))                            |  |  |  |  | 0.00 |  |
|   (D) Recoveries from Prior Month Charge Offs (IV(F(ii)))                                                       |  |  |  |  | 2,179,836.80 |  |
|   (E) Total Principal Collections   (A+B+C+D)                                                    |  |  |  |  |                            553,039,168.17 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **VII. TOTAL INTEREST AND PRINCIPAL COLLECTIONS  (V(A)+VI(E)) **                                                |  |  |  |  |                            612,491,548.99 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **VIII. YIELD SUPPLEMENT DEPOSIT**                                                                                        |  |  |  |  | $1,376,583.75 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **IX. TOTAL AVAILABLE AMOUNT (VII+VIII) **                                                                           |  |  |  |  |                            613,868,132.74 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **DISTRIBUTIONS**                                                                                                         |
|                                                                                                                           |  |  |  |  |  |  |
| **X. FEE DISTRIBUTIONS**                                                                                                  |  |  |  |  |  |  |
|   (A) Servicing Fee                                                                                        |  |  |  |  |  |  |
|     (i)   Servicing Fee Due  (I(H)/12)(II(B))+(II(H)(i))                               |  |  |  |  | $8,340,410.87 |  |
|     (ii)  Servicing Fee Paid                                                                |  |  |  |  | $8,340,410.87 |  |
|     (iii) Servicing Fee Shortfall                                                           |  |  |  |  | $0.00 |  |
|   (B) Reserve Account Investment Income (IV(B))                                                                 |  |  |  |  |                                  116,443.60 |  |
|   (C) Yield Supplement Account Investment Income  (IV(C))                                                  |  |  |  |  |                                    15,459.91 |  |
|   (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                               |  |  |  |  | $0.00 |  |
|        (b)  Class A-1 Notes Interest Paid                                         |  |  |  |  | 0.00 |  |
|        (c) Class A-1 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (ii) Class A-2 Notes                                                                         |  |  |  |  |   |  |
|        (a)   Class A-2 Notes Interest Due                               |  |  |  |  | $4,544,830.79 |  |
|        (b)  Class A-2 Notes Interest Paid                                         |  |  |  |  | 4,544,830.79 |  |
|        (c) Class A-2 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (iii) Class A-3 Notes                                                                        |  |  |  |  |   |  |
|        (a)   Class A-3 Notes Interest Due                               |  |  |  |  | $22,754,476.52 |  |
|        (b)  Class A-3 Notes Interest Paid                                         |  |  |  |  | 22,754,476.52 |  |
|        (c) Class A-3 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (iv) Class A-4 Notes                                                                         |  |  |  |  |   |  |
|        (a)   Class A-4 Notes Interest Due                               |  |  |  |  | $10,383,600.00 |  |
|        (b)  Class A-4 Notes Interest Paid                                         |  |  |  |  | 10,383,600.00 |  |
|        (c) Class A-4 Notes Interest Shortfall                                          |  |  |  |  | $0.00 |  |
|     (v) Total Note Interest                                                                 |  |  |  |  |   |  |
|        (a)   Total Note Interest Due                                    |  |  |  |  | $37,682,907.31 |  |
|        (b)  Total Note Interest Paid                                              |  |  |  |  | 37,682,907.31 |  |
|        (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))                              |  |  |  |                            567,838,814.56 |  |
|   (B) Principal                                                                                                 |  |  |  |  |  |  |
|     (i) Noteholders' Principal Distribution Amounts                                              |  |  |  |  | $535,606,159.49 |  |
|     (ii) Class A-1 Notes Principal                                                               |  |  |  |  |  |  |
|        (a)   Class A-1 Notes Principal Due                              |  |  |  |  | 0.00 |  |
|        (b)  Class A-1 Notes Principal Paid                                        |  |  |  |  | 0.00 |  |
|        (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                              |  |  |  |  | $339,573,988.20 |  |
|        (b)  Class A-2 Notes Principal Paid                                        |  |  |  |  | $339,573,988.20 |  |
|        (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                              |  |  |  |  | $196,032,171.29 |  |
|        (b)  Class A-3 Notes Principal Paid                                        |  |  |  |  | $196,032,171.29 |  |
|        (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                                  |  |  |  |  | $535,606,159.49 |  |
|        (b)  Total Notes Principal Paid                                            |  |  |  |  | 535,606,159.49 |  |
|        (c) Total Notes Principal Shortfall                                             |  |  |  |  | $0.00 |  |
|        (d) Reserve Fund drawn                                                     |  |  |  |  | $0.00 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **XII. RESERVE FUND DEPOSIT**                                                                                             |  |  |  |  |  |  |
|   Amount available for deposit into reserve account                                                             |  |  |  |  | $32,232,655.07 |  |
|   Amount deposited into reserve Account                                                                         |  |  |  |  | 0.00 |  |
|   Excess Amount Release from Reserve Account                                                                    |  |  |  |  | 620,556.00 |  |
|   Excess funds available to Certificateholders                                                                  |  |  |  |  | 32,853,211.07 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XIII. DISTRIBUTIONS TO CERTIFICATEHOLDERS**                                                                             |  |  |  |  |  |  |
|   (A) Interest                                                                                                  |  |  |  |  |  |  |
|      (i)   Certificate Interest Due                                               |  |  |  |  | $1,639,660.61 |  |
|      (ii)   Certificate Interest Shortfall Beginning Balance                           |  |  |  |  | $0.00 |  |
|      (iii)    Total Certificate Interest Due                                           |  |  |  |  | $1,639,660.61 |  |
|      (iv)  Certificate Interest Paid                                                        |  |  |  |  | 1,639,660.61 |  |
|      (v) Certificate Interest Shortfall Ending Balance                                           |  |  |  |  | $0.00 |  |
|   (B) Principal                                                                                                 |  |  |  |  |   |  |
|      (i)   Certificate Principal Due                                              |  |  |  |  | $21,041,272.95 |  |
|      (ii)   Certificate Principal Shortfall Beginning Balance                          |  |  |  |  | $0.00 |  |
|      (iii)   Total Certificate Principal Due                                      |  |  |  |  | $21,041,272.95 |  |
|      (iv)  Certificate Principal Paid                                                  |  |  |  |  | 21,041,272.95 |  |
|      (v) Certificate Principal Shortfall Ending Balance                                          |  |  |  |  | $0.00 |  |
|   (C) Release to Seller                                                                                         |  |  |  |  | $10,172,277.51 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **DISTRIBUTIONS SUMMARY**                                                                                                 |
|                                                                                                                           |  |  |  |  |  |  |
|   (A) Total Collections                                                                                    |  |  |  |  | $613,868,132.74 |  |
|   (B) Service Fee                                                                                               |  |  |  |  | $8,340,410.87 |  |
|   (C) Trustee Fees                                                                                              |  |  |  |  | $6,000.00 |  |
|   (D) Class A1 Amount                                                                                           |  |  |  |  | $0.00 |  |
|   (E) Class A2 Amount                                                                                           |  |  |  |  | $344,118,818.99 |  |
|   (F) Class A3 Amount                                                                                           |  |  |  |  | $218,786,647.81 |  |
|   (G) Class A4 Amount                                                                                           |  |  |  |  | $10,383,600.00 |  |
|   (H) Amount Deposited into Reserve Account                                                                |  |  |  |  | $0.00 |  |
|   (I) Certificateholders                                                                                        |  |  |  |  | $22,680,933.56 |  |
|   (J) Release to seller                                                                                         |  |  |  |  | $10,172,277.51 |  |
|   (K) Total amount distributed                                                                                  |  |  |  |  | $614,488,688.74 |  |
|   (L) Amount of Draw from Reserve Account                                                                  |  |  |  |  | 0.00 |  |
|   (M) Excess Amount Released from Reserve Account                                                               |  |  |  |  | 620,556.00 |  |
|                                                                                                                           |  |  |   |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **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                                             |  |  | $1,063,573,988.20 |  | $527,967,828.71 |  |
|     (ii)   Note Pool Factor                                                            |  |  | 0.6757141 |  | 0.3354306 |  |
|     (iii)  Class A-1 Notes Balance                                                          |  |  | 0.00 |  | 0.00 |  |
|     (iv)   Class A-1 Notes Pool Factor                                                 |  |  | 0.0000000 |  | 0.0000000 |  |
|     (v)    Class A-2 Notes Balance                                                |  |  | 339,573,988.20 |  | 0.00 |  |
|     (vi)   Class A-2 Notes Pool Factor                                                 |  |  | 0.8282292 |  | 0.0000000 |  |
|     (vii)  Class A-3 Notes Balance                                                          |  |  | 520,000,000.00 |  | 323,967,828.71 |  |
|     (viii) Class A-3 Notes Pool Factor                                                           |  |  | 1.0000000 |  | 0.6230151 |  |
|     (ix)  Class A-4 Notes Balance                                                           |  |  | 204,000,000.00 |  | 204,000,000.00 |  |
|     (x) Class A-4 Notes Pool Factor                                                              |  |  | 1.0000000 |  | 1.0000000 |  |
|     (xi)   Certificates Balance                                                        |  |  | 42,496,066.29 |  | 21,454,793.34 |  |
|     (xii)    Certificates Pool Factor                                             |  |  | 0.9527622 |  | 0.4810166 |  |
|     (xiii)   Total Principal Balance of Notes and Certificates                         |  |  | 1,106,070,054.49 |  | 549,422,622.05 |  |
|                                                                                                                           |  |  |   |  |   |  |
|   (B) Portfolio Information                                                                                     |  |  |   |  |   |  |
|     (i)   Weighted Average Coupon (WAC)                                                |  |  | 7.14% |  | 7.26% |  |
|     (ii)  Weighted Average Remaining Maturity (WAM)                                    |  |  | 35.90 | months | 26.26 | months |
|     (iii) Remaining Number of Receivables                                                        |  |  | 111,881 |  | 77,700 |  |
|     (iv)  Portfolio Receivable Balance                                                      |  |  | $1,106,070,054.49 |  | $549,422,622.05 |  |
|   (C) Outstanding Advance Amount                                                                                |  |  | $941,812.46 |  | $497,376.56 |  |
|   (D) Outstanding Payahead Balance                                                                              |  |  | $88,548.83 |  | $41,108.55 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **SUMMARY OF ACCOUNTS**                                                                                                   |
|                                                                                                                           |  |  |  |  |  |  |
| **XV. RECONCILIATION OF RESERVE ACCOUNT**                                                                                 |  |  |  |  |  |  |
|   (A) Beginning Reserve Account Balance                                                                    |  |  |  |  | $8,713,571.08 |  |
|   (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                                                             |  |  |  |  | 8,713,571.08 |  |
|   (E) Reserve Account Required Amount                                                                      |  |  |  |  | 8,093,015.08 |  |
|   (F) Final Reserve Account Required Amount                                                                |  |  |  |  | 8,093,015.08 |  |
|   (G) Excess Reserve Account Amount                                                                        |  |  |  |  | 620,556.00 |  |
|   (H) Ending Reserve Account Balance                                                                       |  |  |  |  | 8,093,015.08 |  |
|                                                                                                                           |  |  |  |  |   |  |
| **XVI. RECONCILIATION OF YIELD SUPPLEMENT ACCOUNT**                                                                       |  |  |  |  |   |  |
|   (A) Beginning Yield Supplement Account Balance                                                                |  |  |  |  | 1,713,755.91 |  |
|   (B) Investment Earnings                                                                                       |  |  |  |  | 15,459.91 |  |
|   (C) Investment Earnings Withdraw                                                                              |  |  |  |  | 15,459.91 |  |
|   (D) Additional Yield Supplement Amounts                                                                       |  |  |  |  | 0.00 |  |
|   (E) Yield Supplement Deposit Amount                                                                           |  |  |  |  | 1,376,583.75 |  |
|   (F) Ending Yield Supplement Account Balance                                                                   |  |  |  |  | 337,172.16 |  |
|                                                                                                                           |  |  |  |  |  |  |
| **XVII. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY**                                                                       |  |  |  |  |  |  |
|   (A) Liquidated Contracts                                                                                 |  |  |  |  |  |  |
|     (i)   Liquidation Proceeds                                                              |  |  |  |  | $2,007,872.63 |  |
|     (ii) Recoveries on Previously Liquidated Contracts                                           |  |  |  |  | 2,179,836.80 |  |
|   (B) Aggregate Net Losses for Collection Period                                                           |  |  |  |  | 3,608,264.27 |  |
|   (C) Net Loss Rate for Collection Period (annualized)                                                     |  |  |  |  | 0.44% |  |
|   (D) Cumulative Net Losses for all Periods                                                                |  |  |  |  | 6,450,865.56 |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |
|   (E) Delinquent Receivables                                                                               |  | #  Units |  |  | Dollar Amount |  |
|     (i)  31-60 Days Delinquent                                                              | 1,854 |  | 2.39% | $15,525,423.29 |  | 2.83% |
|     (ii)  61-90 Days Delinquent                                                             | 323 |  | 0.42% | $3,061,800.44 |  | 0.56% |
|     (ii) 91 Days or More Delinquent                                                              | 62 |  | 0.08% | $555,083.90 |  | 0.10% |
|                                                                                                                           |  |  |  |  |  |  |
| **XVIII. REPOSSESSION ACTIVITY**                                                                                          |  |  |  |
|                                                                                                                           |  | #  Units |  |  | Dollar Amount |  |
|   (A) Vehicles Repossessed During Collection Period                                                             | 28 |  | 0.04% | $310,963.94 |  | 0.06% |
|   (B) Total Accumulated Repossessed Vehicles in Inventory                                                       | 79 |  | 0.10% | $728,385.60 |  | 0.13% |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
| **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                                                       |  |  |  |  | 0.53% |  |
|     (ii) Preceding Collection Period                                                             |  |  |  |  | 0.53% |  |
|     (iii) Current Collection Period                                                              |  |  |  |  | 0.25% |  |
|     (iv) Three Month Average (Avg(i,ii,iii))                                                     |  |  |  |  | 0.44% |  |
|   (B) Ratio of Balance of Contracts Delinquent 60 Days or More to the Outstanding Balance of Receivables.  |  |  |  |
|     (i) Second Preceding Collection Period                                                       |  |  |  |  | 0.83% |  |
|     (ii) Preceding Collection Period                                                             |  |  |  |  | 0.71% |  |
|     (iii) Current Collection Period                                                              |  |  |  |  | 0.60% |  |
|     (iv) Three Month Average (Avg(i,ii,iii))                                                     |  |  |  |  | 0.71% |  |
|                                                                                                                           |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |
|   (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**                                                                                     |  |  |  |  |  |  |
|                                                                                                                           |  |  |  |  |  |  |