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|   | Delaware                                                       |   | 36-2472404                           |   |
|--------|----------------------------------------------------------------|--------|--------------------------------------|--------|
|   | (State or other jurisdiction of incorporation or organization) |   | (I.R.S. Employer Identification No.) |   |

| Large Accelerated filer   [   ] | Accelerated filer                      [   ] |
|---------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Non-Accelerated filer     [X]        | Smaller reporting company    [   ]                                                                                                     |

----

| NAVISTAR FINANCIAL CORPORATION |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|--------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| AND SUBSIDIARIES               |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| INDEX                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | PageReference |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |
| PART I.                        | FINANCIAL INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |
| Item 1.                        | Consolidated Financial Statements:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |
|                           | Consolidated Statements of  Operations (Unaudited) - Three Months and Nine Months Ended July 31, 2009 and 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |   | 3 |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
|                           | Consolidated Statements of Shareowner’s Equity and Comprehensive Income (Loss)  (Unaudited) – Nine Months Ended July 31, 2009 and 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | 4 |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
|                           | Consolidated Statements of Financial Condition – July 31, 2009 (Unaudited) and October 31, 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |   | 5 |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
|                           | Consolidated Statements of Cash Flows (Unaudited) - Nine Months Ended July 31, 2009 and 2008                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |   | 6 |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
|                           | Notes to Consolidated Financial Statements (Unaudited)                                                                                               |   |   | 7 |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
| Item 2.                        | Management's Discussion and Analysis of Financial Condition  and Results of Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   | 26 |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
| Item 3.                        | Quantitative and Qualitative Disclosures about Market Risk                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |   | 36 |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
| Item 4.                        | Controls and Procedures                                                                                                                              |   |   | 36 |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
| PART II.                       | OTHER INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |   |   |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
| Item 6.                        | Exhibits                                                                                                                                                  |   |   | 38 |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
|                           | Signature                                                                                                                                                 |   |   | 39 |   |
|                           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |
|                           | Exhibit Index                                                                                                                                             |   |   | 40 |   |

----

INDEX

PART I

Item 1. 

| Millions of Dollars                                                                                                                                                                                                                                                                                                                                                   |   | For the Three Months EndedJuly 31, |   |   | For the Nine Months EndedJuly 31, |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------|--------|--------|-----------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                  |   | 2009                               |   |   | 2008                              |   |   | 2009 |   |   | 2008 |   |
| Revenues                                                                                                                                                                                                                                                                                                                                                              |   |                               |   |   |                              |   |   |   |   |   |   |   |
| Retail notes and finance leases revenue                                                                                                                                                                                                                                                                                                                               |   | $                                  | 42.1   |   |                              | $      | 53.3 |   |   | $ | 135.3 |   |   | $ | 172.0 |   |
| Operating leases revenue                                                                |   |                               | 5.6    |   |                              |   | 5.2 |   |   |   | 16.0 |   |   |   | 16.2 |   |
| Wholesale notes interest                                                                |   |                               | 3.5    |   |                              |   | 3.7 |   |   |   | 11.0 |   |   |   | 12.5 |   |
| Retail and wholesale accounts interest                                                                                                                                                                                                                                                                                                                                |   |                               | 4.7    |   |                              |   | 4.8 |   |   |   | 15.1 |   |   |   | 20.2 |   |
| Securitization income                                                                   |   |                               | 16.2   |   |                              |   | 2.7 |   |   |   | 37.7 |   |   |   | 20.0 |   |
| Other revenues                                                                          |   |                               | 1.5    |   |                              |   | 4.4 |   |   |   | 5.9 |   |   |   | 20.8 |   |
| Total revenues                                                                                                             |   |                               | 73.6   |   |                              |   | 74.1 |   |   |   | 221.0 |   |   |   | 261.7 |   |
|                                                                                                                                                                                                                                                                                                                                                                  |   |                               |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |
| Expenses                                                                                                                                                                                                                                                                                                                                                              |   |                               |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |
| Cost of borrowing:                                                                                                                                                                                                                                                                                                                                                    |   |                               |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                                                                                 |   |                               | 15.7   |   |                              |   | 38.3 |   |   |   | 57.7 |   |   |   | 147.4 |   |
| Other                                                                                                            |   |                               | 3.3    |   |                              |   | 3.4 |   |   |   | 10.2 |   |   |   | 8.8 |   |
| Credit, collections and administrative                                                                                                                                                                                                                                                                                                                                |   |                               | 13.0   |   |                              |   | 13.4 |   |   |   | 43.4 |   |   |   | 43.6 |   |
| Provision for credit losses                                                             |   |                               | 9.1    |   |                              |   | 13.3 |   |   |   | 21.5 |   |   |   | 23.9 |   |
| Depreciation on operating leases                                                        |   |                               | 4.1    |   |                              |   | 4.3 |   |   |   | 12.1 |   |   |   | 12.8 |   |
| Derivative expense                                                                      |   |                               | 4.5    |   |                              |   | 1.1 |   |   |   | 36.1 |   |   |   | 39.6 |   |
| Other expenses                                                                          |   |                               | 1.6    |   |                              |   | 2.2 |   |   |   | 4.3 |   |   |   | 5.1 |   |
| Total expenses                                                                                                             |   |                               | 51.3   |   |                              |   | 76.0 |   |   |   | 185.3 |   |   |   | 281.2 |   |
|                                                                                                                                                                                                                                                                                                                                                                  |   |                               |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |
| Income (loss) before taxes                                                              |   |                               | 22.3   |   |                              |   | (1.9 | ) |   |   | 35.7 |   |   |   | (19.5 | ) |
| Income tax expense (benefit)                                                       |   |                               | 8.4    |   |                              |   | (0.5 | ) |   |   | 13.9 |   |   |   | (6.3 | ) |
| Net income (loss)                                                                       |   | $                                  | 13.9   |   |                              | $      | (1.4 | ) |   | $ | 21.8 |   |   | $ | (13.2 | ) |

----

INDEX

| Millions of dollars                                                                                                                                                                                                                                                                     |   | CapitalStock |   |   | Paid-InCapital |   |   | RetainedEarnings |   |   | Accumulated OtherComprehensive Income (Loss) |   |   | Total  |   |   | ComprehensiveIncome (Loss) |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|--------|--------|----------------|--------|--------|------------------|--------|--------|----------------------------------------------|--------|--------|--------|--------|--------|----------------------------|--------|
| Balance at October 31, 2007                                                                                                                                                                                                                                                             |   | $            | 1.6    |   |           | $      | 139.6  |             |   | $      | 127.1                                        |   |   | $      | (0.2   | )      |                       | $      | 268.1 |   |   |   |   |
| 2008 Activity:                                                                                                                                                                                                                                                                          |   |         |   |   |           |   |   |             |   |   |                                         |   |   |   |   |   |                       |   |   |   |   |   |   |
| Net loss                                                                        |   |         | -      |   |           |   | -      |             |   |   | (13.2                                        | )      |   |   | -      |   |                       |   | (13.2 | ) |   | $ | (13.2 | ) |
| Capital contribution from parentcompany                                         |   |         | -      |   |           |   | 25.0   |             |   |   | -                                            |   |   |   | -      |   |                       |   | 25.0 |   |   |   | - |   |
| Pension adjustment, (net of tax $0.3)                                                                                                                                                                                                                                                   |   |         | -      |   |           |   | -      |             |   |   | -                                            |   |   |   | 0.5    |   |                       |   | 0.5 |   |   |   | 0.5 |   |
| Impact of adopting FIN 48                                                                                                                                                                                                                                                               |   |         | -      |   |           |   | -      |             |   |   | (2.5                                         | )      |   |   | -      |   |                       |   | (2.5 | ) |   |   | - |   |
| Cash dividend paid to parent company                                                                                                                                                                                                                                                    |   |         | -      |   |           |   | -      |             |   |   | (14.8                                        | )      |   |   | -      |   |                       |   | (14.8 | ) |   |   | - |   |
| Balance at July 31, 2008                                                                                                                                                                                                                                                                |   | $            | 1.6    |   |           | $      | 164.6  |             |   | $      | 96.6                                         |   |   | $      | 0.3    |   |                       | $      | 263.1 |   |   | $ | (12.7 | ) |
|                                                                                                                                                                                                                                                                                    |   |         |   |   |           |   |   |             |   |   |                                         |   |   |   |   |   |                       |   |   |   |   |   |   |   |
| Balance at October 31, 2008                                                                                                                                                                                                                                                             |   | $            | 1.6    |   |           | $      | 199.6  |             |   | $      | 79.1                                         |   |   | $      | (7.7   | )      |                       | $      | 272.6 |   |   |   |   |   |
| 2009 Activity:                                                                                                                                                                                                                                                                          |   |         |   |   |           |   |   |             |   |   |                                         |   |   |   |   |   |                       |   |   |   |   |   |   |   |
| Net income                                                                      |   |         | -      |   |           |   | -      |             |   |   | 21.8                                         |   |   |   | -      |   |                       |   | 21.8 |   |   | $ | 21.8 |   |
| Capital contribution from parentcompany                                         |   |         | -      |   |           |   | 20.0   |             |   |   | -                                            |   |   |   | -      |   |                       |   | 20.0 |   |   |   | - |   |
| Pension adjustment, (net of tax $0.1)                                                                                                                                                                                                                                                   |   |         | -      |   |           |   | -      |             |   |   | -                                            |   |   |   | 0.4    |   |                       |   | 0.4 |   |   |   | 0.4 |   |
| Balance at July 31, 2009                                                                                                                                                                                                                                                                |   | $            | 1.6    |   |           | $      | 219.6  |             |   | $      | 100.9                                        |   |   | $      | (7.3   | )      |                       | $      | 314.8 |   |   | $ | 22.2 |   |

----

INDEX

|  Millions of dollars                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   | As of July 31,2009 |    |   | As of October 31, 2008 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------|---------|--------|------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | (Unaudited)        |    |   |                   |   |
| ASSETS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |               |    |   |                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |    |   |                   |   |
| Cash and cash equivalents                                                                                                     |   | $                  | 17.8    |   |                   | $      |  34.4 |   |
| Finance receivables, net of unearned income:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |               |    |   |                   |   |   |   |
| Finance receivables                                                                                                                                              |   |               | 2,489.5 |   |                   |   | 2,906.3 |   |
| Finance receivables from affiliates                                                                                                                              |   |               | 127.0   |   |                   |   | 212.3 |   |
| Allowance for losses                                                                                                                                             |   |               | (33.7   | )      |                   |   | (28.4 | ) |
| Finance receivables, net                                                                                                      |   |               | 2,582.8 |   |                   |   | 3,090.2 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |    |   |                   |   |   |   |
| Amounts due from sales of receivables                                                                                         |   |               | 220.3   |   |                   |   | 229.6 |   |
| Net accounts due from affiliates                                                                                              |   |               | 3.8     |   |                   |   | 17.5 |   |
| Net investment in operating leases                                                                                            |   |               | 72.5    |   |                   |   | 72.9 |   |
| Vehicle inventory                                                                                                             |   |               | 27.9    |   |                   |   | 42.0 |   |
| Restricted cash and cash equivalents                                                                                          |   |               | 475.5   |   |                   |   | 515.4 |   |
| Other assets                                                                                                                  |   |               | 113.3   |   |                   |   | 123.0 |   |
| Total assets                                                                                                                                                          |   | $                  | 3,513.9 |   |                   | $      | 4,125.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |    |   |                   |   |   |   |
| LIABILITIES AND SHAREOWNER’S EQUITY                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |               |    |   |                   |   |   |   |
| Senior and secured borrowings                                                                                                 |   | $                  | 3,031.3 |   |                   | $      | 3,679.1 |   |
| Other liabilities                                                                                                             |   |               | 167.8   |   |                   |   | 173.3 |   |
| Total liabilities                                                                                                                                                     |   |               | 3,199.1 |   |                   |   | 3,852.4 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |    |   |                   |   |   |   |
| Shareowner’s equity                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |               |    |   |                   |   |   |   |
| Capital stock ($1 par value, 2,000,000 shares authorized, 1,600,000 shares issued and outstanding)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |               | 1.6     |   |                   |   | 1.6 |   |
| Paid-in capital                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |               | 219.6   |   |                   |   | 199.6 |   |
| Retained earnings                                                                                                             |   |               | 100.9   |   |                   |   | 79.1 |   |
| Accumulated other comprehensive loss                                                                                          |   |               | (7.3    | )      |                   |   | (7.7 | ) |
| Total shareowner’s equity                                                                                               |   |               | 314.8   |   |                   |   | 272.6 |   |
| Total liabilities and shareowner’s equity                                                                                                                       |   | $                  | 3,513.9 |   |                   | $      | 4,125.0 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |               |    |   |                   |   |   |   |

----

INDEX

|  Millions of dollars                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | For the Nine Months EndedJuly 31, |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   | 2009                              |   |   | 2008 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                              |   |   |   |   |
| Cash flow from operating activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                              |   |   |   |   |
| Net income (loss)                                                                                                                                             |   | $                                 | 21.8   |   |   | $ | (13.2 | ) |
| Adjustments to reconcile net loss to cash flow from operations:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                              |   |   |   |   |   |   |
| Net loss on sales of finance receivables                                                                                                                                                    |   |                              | 34.5   |   |   |   | 11.4 |   |
| Net loss on sale and impairment of equipment under operating                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                              |   |   |   |   |   |   |
| leases and vehicle inventory                                                                                                                                                                                         |   |                              | 5.7    |   |   |   | 0.4 |   |
| Depreciation and amortization                                                                                                                                                               |   |                              | 20.5   |   |   |   | 18.7 |   |
| Provision for credit losses                                                                                                                                                                 |   |                              | 21.5   |   |   |   | 23.9 |   |
| Net change in amounts due from sales of receivables                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                              | 9.3    |   |   |   | 55.7 |   |
| Net change in finance receivables - wholesale notes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                              | 6.2    |   |   |   | (49.4 | ) |
| Net change in finance receivables from affiliates - wholesale                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   |                              | 50.6   |   |   |   | (3.3 | ) |
| Net change in net accounts due from affiliates                                                                                                                                              |   |                              | 13.7   |   |   |   | 41.1 |   |
| Net change in other assets and liabilities                                                                                                                                                  |   |                              | (2.4   | ) |   |   | (58.8 | ) |
| Net cash provided by operating activities                                                                                                                                                                                      |   |                              | 181.4  |   |   |   | 26.5 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                              |   |   |   |   |   |   |
| Cash flow from investing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                              |   |   |   |   |   |   |
| Originations of retail notes and finance leases, includes affiliates                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                              | (446.2 | ) |   |   | (609.1 | ) |
| Net change in restricted cash and cash equivalents                                                                                                            |   |                              | 39.9   |   |   |   | (266.2 | ) |
| Collections on retail notes and finance lease receivables,net of change in unearned finance income, includes affiliates                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                              | 780.0  |   |   |   | 1,030.0 |   |
| Net change in finance receivables from affiliates - accounts                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                              | 6.0    |   |   |   | 10.9 |   |
| Net change in finance receivables - accounts                                                                                                                  |   |                              | 19.2   |   |   |   | 103.2 |   |
| Proceeds from sale of vehicle inventory                                                                                                                       |   |                              | 51.2   |   |   |   | 61.5 |   |
| Purchase of equipment leased to others                                                                                                                        |   |                              | (21.9  | ) |   |   | (23.6 | ) |
| Proceeds from sale of equipment under operating leases                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |                              | 3.0    |   |   |   | 11.8 |   |
| Loans to affiliates                                                                                                                                           |   |                              | -      |   |   |   | (10.0 | ) |
| Loan repayment from affiliates                                                                                                                                |   |                              | -      |   |   |   | 70.0 |   |
| Net cash provided by investing activities                                                                                                                                                                                      |   |                              | 431.2  |   |   |   | 378.5 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                              |   |   |   |   |   |   |
| Cash flow from financing activities:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                              |   |   |   |   |   |   |
| Net change in senior bank revolver, net of issuance costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |                              | (44.5  | ) |   |   | 34.4 |   |
| Principal payments on senior bank term debt                                                                                                                   |   |                              | (4.6   | ) |   |   | (3.1 | ) |
| Proceeds from issuance of secured borrowings, net of issuance costs                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                              | 326.3  |   |   |   | 1,049.9 |   |
| Payments on secured borrowings                                                                                                                                |   |                              | (926.4 | ) |   |   | (1,429.9 | ) |
| Dividends paid to parent company                                                                                                                              |   |                              | -      |   |   |   | (14.8 | ) |
| Capital contribution  from parent company                                                                                                           |   |                              | 20.0   |   |   |   | 25.0 |   |
| Net cash used in financing activities                                                                                                                                                                                          |   |                              | (629.2 | ) |   |   | (338.5 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                              |   |   |   |   |   |   |
| Change in cash and cash equivalents                                                                                                  |   |                              | (16.6  | ) |   |   | 66.5 |   |
| Cash and cash equivalents, beginning of year                                                                                         |   |                              | 34.4   |   |   |   | 10.6 |   |
| Cash and cash equivalents, end of period                                                                                             |   | $                                 | 17.8   |   |   | $ | 77.1 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |                              |   |   |   |   |   |   |
| Supplemental cash flow information:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |                              |   |   |   |   |   |   |
| Interest paid                                                                                                                                                 |   | $                                 | 63.2   |   |   | $ | 153.3 |   |
| Income taxes paid, net of refunds                                                                                                                             |   |                              | 0.4    |   |   |   | 56.3 |   |
| Transfers of loans and leases to vehicle inventory                                                                                                            |   |                              | 50.2   |   |   |   | 84.1 |   |

----

INDEX

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INDEX

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INDEX

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INDEX

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INDEX

|                                                                                                                                                                                                                                                                                                                                                                  |   | Three Months EndedJuly 31, |   |   | Nine Months EndedJuly 31, |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|--------|--------|---------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                  |   | 2009                       |   |   | 2008                      |   |   | 2009 |   |   | 2008 |   |
| Net losses on finance receivables                                                       |   | $                          | 6.1    |   |                      | $      | 1.9 |   |   | $ | 10.8 |   |   | $ | 6.7 |   |
| Impairment losses on vehicle inventory                                                                                                                                                                                                                                                                                                                                |   |                       | 1.2    |   |                      |   | 0.3 |   |   |   | 8.4 |   |   |   | 1.5 |   |
| Net losses on sales of vehicle inventory                                                                                                                                                                                                                                                                                                                              |   |                       | -      |   |                      |   | 2.3 |   |   |   | 3.7 |   |   |   | 6.2 |   |

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | July 31,2009 |   |   | October 31,2008 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|--------|--------|-----------------|--------|
| Finance receivables from affiliates (Dealcor retail)                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   | $            | 111.7  |   |            | $      | 140.4 |   |
| Finance receivables from affiliates (Dealcor wholesale)                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   |         | 15.3   |   |            |   | 71.9 |   |
| Net accounts due from affiliates (non-Dealcor)                                                                           |   |         | 3.8    |   |            |   | 17.5 |   |

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   | July 31,2009 |    |   | October 31, 2008 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|---------|--------|------------------|--------|
| Retail notes, net of unearned income                                                                                                                      |   | $            | 2,066.2 |   |             | $      | 2,468.0 |   |
| Finance leases, net of unearned income                                                                                                                    |   |         | 133.1   |   |             |   | 122.7 |   |
| Wholesale notes held for sale                                                                                                                             |   |         | 111.8   |   |             |   | 118.0 |   |
| Accounts (includes retail and wholesale)                                                                                                                  |   |         | 178.4   |   |             |   | 197.6 |   |
| Finance receivables from affiliates, net of unearned income                                                                                               |   |         | 127.0   |   |             |   | 212.3 |   |
| Total finance receivables                                                                                                                                 |   |         | 2,616.5 |   |             |   | 3,118.6 |   |
| Allowance for losses                                                                                                                                      |   |         | (33.7   | )      |             |   | (28.4 | ) |
| Total finance receivables, net                                                                                                                            |   | $            | 2,582.8 |   |             | $      | 3,090.2 |   |

|                                                                                                                                                                                                                                                                                                                                                                  |   | Three Months Ended July 31, |   |   | Nine Months Ended July 31, |   |   | Year Ended October 31 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|--------|--------|----------------------------|--------|--------|-----------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                  |   | 2009                        |   |   | 2008                       |   |   | 2009                  |   |   | 2008 |   |   | 2008 |   |
| Allowance for losses, beginning of period                                                                                                                                                                                                                                                                                                                             |   | $                           | 30.2   |   |                       | $      | 23.2   |                  |   | $ | 28.4 |   |   | $ | 23.9 |   |   | $ | 23.9 |   |
| Provision for credit losses                                                        |   |                        | 9.1    |   |                       |   | 13.3   |                  |   |   | 21.5 |   |   |   | 23.9 |   |   |   | 32.2 |   |
| Net charge-offs                                                                    |   |                        | (5.6   | )      |                       |   | (10.1  | )                     |   |   | (16.2 | ) |   |   | (21.4 | ) |   |   | (27.7 | ) |
| Allowance for losses, end of period                                                                                                                                                                                                                                                                                                                                   |   | $                           | 33.7   |   |                       | $      | 26.4   |                  |   | $ | 33.7 |   |   | $ | 26.4 |   |   | $ | 28.4 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   | July 31,2009 |   |   | October 31,2008 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|--------|--------|-----------------|--------|
| Impaired receivables with specific loss reserves                                                                                                   |   | $            | 62.8   |   |            | $      | 55.8 |   |
| Impaired receivables without specific loss reserves                                                                                                |   |         | 4.4    |   |            |   | 3.8 |   |
| Total impaired receivables                                                                                                                                        |   | $            | 67.2   |   |            | $      | 59.6 |   |

| Specific loss reserves on impaired receivables recorded by NFC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   | $      | 10.0 |   |   | $      | 4.6  |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|------|--------|--------|--------|------|--------|
| Specific loss reserves on impaired receivables recorded by Navistar, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |   |   | 20.7 |   |   |   | 16.1 |   |
| Finance receivables over 60 days delinquent                                                                                                |   |   | 34.7 |   |   |   | 18.6 |   |

----

INDEX

|                                    |   | Three Months EndedJuly 31, |   |   | Nine Months EndedJuly 31, |   |
|-----------------------------------------|--------|----------------------------|--------|--------|---------------------------|--------|
|                                    |   | 2009                       |   |   | 2008                      |   |   | 2009 |   |   | 2008 |   |
| Impairment losses on vehicle inventory  |   | $                          | 2.1    |   |                      | $      | 2.0 |   |   | $ | 11.4 |   |   | $ | 5.2 |   |
| Net losses on sale of vehicle inventory |   |                       | -      |   |                      |   | 1.7 |   |   |   | 5.4 |   |   |   | 6.6 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | Nine Months EndedJuly 31,2009 |   |   | Nine Months EndedJuly 31,2008 |   |   |   Year Ended October 31, 2008 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|--------|--------|------------------------------------|--------|--------|-----------------------------------------|--------|
| Vehicle inventory, beginning of period                                                                                                                                                                                                                                                                                                                                                                                                             |   | $                             | 42.0   |   |                               | $      | 23.2   |                                    |   | $ | 23.2 |   |
| Net additions                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |                          | 50.2   |   |                               |   | 84.1   |                                    |   |   | 129.0 |   |
| Impairment loss:                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                          |   |   |                               |   |   |                                    |   |   |   |   |
| Recorded by NFC                                                                                     |   |                          | (3.0   | )      |                               |   | (3.7   | )                                       |   |   | (4.9 | ) |
| Recorded by Navistar, Inc.                                                                          |   |                          | (8.4   | )      |                               |   | (1.5   | )                                       |   |   | (7.7 | ) |
| Net book value of repossessed assets sold                                                                                                                                                                                                                                                                                                                                                                                                          |   |                          | (52.9  | )      |                               |   | (61.9  | )                                       |   |   | (97.6 | ) |
| Vehicle inventory, end of period                                                                    |   | $                             | 27.9   |   |                               | $      | 40.2   |                                    |   | $ | 42.0 |   |

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | July 31,2009 |   |   | October 31,2008 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|--------|--------|-----------------|--------|
| Investment in operating leases                                                                                             |   | $            | 113.3  |   |            | $      | 119.5 |   |
| Less: Accumulated depreciation                                                                                             |   |         | (41.2  | )      |            |   | (47.5 | ) |
| Net investment in equipment under operating leases                                                                                                  |   |         | 72.1   |   |            |   | 72.0 |   |
| Rent receivable net of reserve for past due operating leases                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |   |         | 0.4    |   |            |   | 0.9 |   |
| Net investment in operating leases                                                                                         |   | $            | 72.5   |   |            | $      | 72.9 |   |

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                                                  |   |         |    |   |            |   |    | Weighted AverageInterest Rate |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|---------|--------|-----------------|--------|---------|-------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                  |   | July 31,2009 |    |   | October 31,2008 |   |    | July 31,2009                  |   |   | October 31,2008 |   |
| Bank credit facility at variable rates due July 2010                                                                                                                                                                                                                                                                                                                                                  |   | $            | 1,008.5 |   |            | $      | 1,057.6 |                          |   |   | 2.2 | % |   |   | 5.7 | % |
| Revolving retail warehouse facility at variable rates, due June 2010                                                                                                                                                                                                                                                                                                                                  |   |         | 500.0   |   |            |   | 500.0   |                          |   |   | 0.6 | % |   |   | 4.6 | % |
| Borrowings secured by asset-backed securities at various rates,  currently between 0.5% to 3.5%, due serially through March 2016                                                                                                                                                                                                                                                            |   |         | 1,394.5 |   |            |   | 1,989.6 |                          |   |   | 1.7 | % |   |   | 3.8 | % |
| Borrowings secured by operating and finance leases due serially through May 2016 at rates currently between 2.6% to 6.6%                                                                                                                                                                                                                                                                              |   |         | 128.3   |   |            |   | 131.9   |                          |   |   | 4.4 | % |   |   | 4.5 | % |
| Total senior and secured borrowings                                                            |   | $            | 3,031.3 |   |            | $      | 3,679.1 |                          |   |   | 1.8 | % |   |   | 4.5 | % |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Three Months Ended July 31, |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Pension Benefits            |   |   | Other Benefits |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2009                        |   |   | 2008 |   |   | 2009 |   |   | 2008 |   |
| Service cost for benefits earned during the period                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $                           | -      |   |   | $ | 0.1 |   |   | $ | 0.1 |   |   | $ | - |   |
| Interest on obligation                                                                                    |   |                        | 1.0    |   |   |   | 1.0 |   |   |   | 0.3 |   |   |   | 0.3 |   |
| Amortization of cumulative losses                                                                         |   |                        | 0.2    |   |   |   | 0.1 |   |   |   | - |   |   |   | - |   |
| Less expected return on assets                                                                            |   |                        | (0.9   | ) |   |   | (1.5 | ) |   |   | (0.2 | ) |   |   | (0.2 | ) |
| Net postretirement benefits expense (income)                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $                           | 0.3    |   |   | $ | (0.3 | ) |   | $ | 0.2 |   |   | $ | 0.1 |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Nine Months Ended July 31, |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Pension Benefits           |   |   | Other Benefits |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | 2009                       |   |   | 2008 |   |   | 2009 |   |   | 2008 |   |
| Service cost for benefits earned during the period                                                                                                                                                                                                                                                                                                                                                                                                                                |   | $                          | 0.2    |   |   | $ | 0.3 |   |   | $ | 0.1 |   |   | $ | - |   |
| Interest on obligation                                                                                    |   |                       | 3.1    |   |   |   | 3.0 |   |   |   | 0.9 |   |   |   | 0.9 |   |
| Amortization of cumulative losses                                                                         |   |                       | 0.4    |   |   |   | 0.7 |   |   |   | (0.1 | ) |   |   | - |   |
| Less expected return on assets                                                                            |   |                       | (2.7   | ) |   |   | (4.5 | ) |   |   | (0.4 | ) |   |   | (0.6 | ) |
| Net postretirement benefits expense (income)                                                                                                                                                                                                                                                                                                                                                                                                                                      |   | $                          | 1.0    |   |   | $ | (0.5 | ) |   | $ | 0.5 |   |   | $ | 0.3 |   |

----

INDEX

----

INDEX

|                                                                                                                                                                                                                                                                                                                   |   | Other Assets   |    |   | Other Liabilities |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|---------|--------|-------------------|--------|
| July 31, 2009                                                                                                                                                                                                                                                                                                          |   | NotionalAmount |    |   | Fair Value        |   |   | NotionalAmount |   |   | Fair Value |   |
| Interest rate swaps                                                         |   | $              | 1,310.6 |   |              | $      | 38.7 |   |   | $ | 2,732.6 |   |   | $ | 74.7 |   |
| Interest rate caps purchased                                                |   |           | 500.0   |   |              |   | 4.0 |   |   |   | - |   |   |   | - |   |
| Interest rate caps sold                                                     |   |           | -       |   |              |   | - |   |   |   | 500.0 |   |   |   | 4.0 |   |
| Total derivatives                                                                               |   | $              | 1,810.6 |   |              | $      | 42.7 |   |   | $ | 3,232.6 |   |   | $ | 78.7 |   |

|                                                                                                                                                                                                                                                                                                                   |   | Other Assets   |    |   | Other Liabilities |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|---------|--------|-------------------|--------|
| October 31, 2008                                                                                                                                                                                                                                                                                                       |   | NotionalAmount |    |   | Fair Value        |   |   | NotionalAmount |   |   | Fair Value |   |
| Interest rate swaps                                                         |   | $              | 1,636.4 |   |              | $      | 38.7 |   |   | $ | 3,469.0 |   |   | $ | 79.6 |   |
| Interest rate caps purchased                                                |   |           | 500.0   |   |              |   | 3.3 |   |   |   | - |   |   |   | - |   |
| Interest rate caps sold                                                     |   |           | -       |   |              |   | - |   |   |   | 500.0 |   |   |   | 3.3 |   |
| Total derivatives                                                                               |   | $              | 2,136.4 |   |              | $      | 42.0 |   |   | $ | 3,969.0 |   |   | $ | 82.9 |   |

|                                                                                                                                                                                                                                                                                            |   | Three Months Ended July 31,          |   |   | Nine Months EndedJuly 31, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------|--------|--------|---------------------------|--------|
|                                                                                                                                                                                                                                                                                            |   |        2009 |   |   | 2008                      |   |   | 2009 |   |   | 2008 |   |
| Interest rate swaps                                                 |   | $                                         | 4.5    |   |                      | $      | 1.1 |   |   | $ | 36.1 |   |   | $ | 39.6 |   |
| Interest rate caps purchased                                                                                                                                                                                                                                                                    |   |                                      | (1.9   | )      |                      |   | - |   |   |   | (0.7 | ) |   |   | (0.2 | ) |
| Interest rate caps sold                                             |   |                                      | 1.9    |   |                      |   | - |   |   |   | 0.7 |   |   |   | 0.2 |   |
| Total                                                                                        |   | $                                         | 4.5    |   |                      | $      | 1.1 |   |   | $ | 36.1 |   |   | $ | 39.6 |   |

----

INDEX

|                                                                                                                                                                                                                                                                                                           |  Maturity |   | July 31,2009 |   |   | October 31,2008 |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|--------|--------------|--------|--------|-----------------|--------|
| Investor certificate                                                | February 2010  |   | $            | 212.0  |   |            | $      | 212.0 |   |
| Variable funding certificate (“VFC”)                                                                                                                                                                                                                                                               | August 2010    |   |         | 650.0  |   |            |   | 800.0 |   |
| Total                                                                              |           |   | $            | 862.0  |   |            | $      | 1,012.0 |   |

|                                                                                                                                                                                                                                                                                                               |  Maturity |   | July 31,2009 |   |   | October 31,2008 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|--------|--------------|--------|--------|-----------------|--------|
| Conduit funding facility                                                | November 2009  |   | $            | 100.0  |   |            | $      | 100.0 |   |
| Funding utilized                                                        |           |   |         | (25.0  | )      |            |   | (47.5 | ) |
| Total availability                                                                     |           |   | $            | 75.0   |   |            | $      | 52.5 |   |

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   | July 31,2009 |   |   | October 31,2008 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|--------|--------|-----------------|--------|
| Excess seller’s interest                                                                                               |   | $            | 205.7  |   |            | $      | 218.7 |   |
| Interest only strip                                                                                                          |   |         | 7.5    |   |            |   | 2.1 |   |
| Restricted cash reserves                                                                                                     |   |         | 7.1    |   |            |   | 8.8 |   |
| Total amounts due from sales of receivables                                                                                                 |   | $            | 220.3  |   |            | $      | 229.6 |   |

|                                                                                                                                                                                                                                                                                                                                                              | July 31,                                                                                                    | October 31,                                                                          |   | Adverse Fair ValueChange atJuly 31, 2009 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------|--------|------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                              | 2009                                                                                                        | 2008                                                                                 |   |                                     | 10%    |   |   |   | 20% |   |
| Discount rate (annual)                                                         |           11.0  to 22.0 %        |         14.6  to 23.0 %            |   | $                                        | 1.6    |   |   | $ | 3.6 |   |
| Estimated credit losses                                                        |             0.0  to 0.24 %            |           0.0  to 0.24 % |   |                                     | 0.1    |   |   |   | 0.1 |   |
| Payment speed (percent of portfolio per month)                                                                                                                                                                                                                                                                                                                    |             6.1  to 83.5  % |           8.8  to 75.7 % |   |                                     | 0.3    |   |   |   | 0.6 |   |

|  July 31, 2009                                                                                                                                                                                                                |   | Retail Notes |    |   | Finance Leases |   |   | Wholesale Notes |   |   | Accounts |   |   | Affiliates |   |   | Total  |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|---------|--------|----------------|--------|--------|-----------------|--------|--------|----------|--------|--------|------------|--------|--------|--------|--------|
| Serviced portfolio                                       |   | $            | 2,066.2 |   |           | $      | 133.1  |            |   | $      | 692.1    |   |   | $          | 272.9  |   |   | $      | 215.0 |   |   | $ | 3,379.3 |   |
| Less sold receivables –off-balance sheet                               |   |         | -       |   |           |   | -      |            |   |   | (580.3   | )      |   |       | (94.5  | )      |   |   | (88.0 | ) |   |   | (762.8 | ) |
| Total on-balance sheet.                                                                                                                                                                                                            |   | $            | 2,066.2 |   |           | $      | 133.1  |            |   | $      | 111.8    |   |   | $          | 178.4  |   |   | $      | 127.0 |   |   | $ | 2,616.5 |   |

|  October  31, 2008                                                                                                                                                                                                        |   | Retail Notes |    |   | Finance Leases |   |   | Wholesale Notes |   |   | Accounts |   |   | Affiliates |   |   | Total  |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|---------|--------|----------------|--------|--------|-----------------|--------|--------|----------|--------|--------|------------|--------|--------|--------|--------|
| Serviced portfolio                                        |   | $            | 2,468.0 |   |           | $      | 122.7  |            |   | $      | 839.4    |   |   | $          | 320.7  |   |   | $      | 309.5 |   |   | $ | 4,060.3 |   |
| Less sold receivables –off-balance sheet                                |   |         | -       |   |           |   | -      |            |   |   | (721.4   | )      |   |       | (123.1 | )      |   |   | (97.2 | ) |   |   | (941.7 | ) |
| Total on-balance sheet                                                                                                                                                                                                                   |   | $            | 2,468.0 |   |           | $      | 122.7  |            |   | $      | 118.0    |   |   | $          | 197.6  |   |   | $      | 212.3 |   |   | $ | 3,118.6 |   |

----

INDEX

|                                                                                                                                                                                                                                                                                           |   | Three Months EndedJuly 31,    |   |   | Nine Months EndedJuly 31, |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------|--------|--------|---------------------------|--------|
|                                                                                                                                                                                                                                                                                           |   |      2009 |   |   | 2008                      |   |   | 2009 |   |   | 2008 |   |
| Fair value adjustments                                             |   | $                             | 15.3   |   |                      | $      | 0.3 |   |   | $ | 44.6 |   |   | $ | 5.4 |   |
| Excess spread income                                               |   |                          | 8.7    |   |                      |   | 3.6 |   |   |   | 20.1 |   |   |   | 14.5 |   |
| Servicing fees revenue                                             |   |                          | 1.9    |   |                      |   | 2.5 |   |   |   | 6.1 |   |   |   | 7.6 |   |
| Losses on sales of receivables                                                                                                                                                                                                                                                                 |   |                          | (9.8   | )      |                      |   | (4.7 | ) |   |   | (34.5 | ) |   |   | (11.4 | ) |
| Investment income                                                  |   |                          | 0.1    |   |                      |   | 1.0 |   |   |   | 1.4 |   |   |   | 3.9 |   |
| Securitization income                                                                                                                                                                                                                                                                          |   | $                             | 16.2   |   |                      | $      | 2.7 |   |   | $ | 37.7 |   |   | $ | 20.0 |   |

|                                                                                                                                                                                                                                                                                      |   | Three Months EndedJuly 31, |    |   | Nine Months EndedJuly 31, |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|---------|--------|---------------------------|--------|
|                                                                                                                                                                                                                                                                                      |   |    2009          |    |   | 2008                      |   |   | 2009 |   |   | 2008 |   |
| Proceeds from sales of finance receivables                                                                                                                                                                                                                                                |   | $                          | 1,045.4 |   |                      | $      | 891.2 |   |   | $ | 2,985.2 |   |   | $ | 2,708.1 |   |
| Servicing fees                                                |   |                       | 1.9     |   |                      |   | 2.5 |   |   |   | 6.2 |   |   |   | 7.8 |   |
| Cash from net excess spread                                                                                                                                                                                                                                                               |   |                       | 8.5     |   |                      |   | 3.8 |   |   |   | 18.8 |   |   |   | 12.5 |   |
| Investment income                                             |   |                       | 0.1     |   |                      |   | 0.8 |   |   |   | 1.1 |   |   |   | 3.6 |   |
| Net cash received                                                                                               |   | $                          | 1,055.9 |   |                      | $      | 898.3 |   |   | $ | 3,011.3 |   |   | $ | 2,732.0 |   |

----

INDEX

|                                  |   | Consolidated |    |   | Other           |   |   |   |   |
|---------------------------------------|--------|--------------|---------|--------|-----------------|--------|--------|--------|--------|
| July 31, 2009                         |   | VIEs         |    |   | Securitizations |   |   | Total  |   |
| Finance receivables, net of allowance |   | $            | 1,502.5 |   |            | $      | 337.6  |   |   | $ | 1,840.1 |   |
| Net investment in operating leases    |   |         | -       |   |            |   | 72.5   |   |   |   | 72.5 |   |
| Restricted cash and cash equivalents  |   |         | 137.6   |   |            |   | 337.7  |   |   |   | 475.3 |   |
| Vehicle inventory                     |   |         | 14.9    |   |            |   | 4.7    |   |   |   | 19.6 |   |
| Net derivative fair value             |   |         | (37.5   | )      |            |   | 4.0    |   |   |   | (33.5 | ) |
| Secured borrowings                    |   |         | 1,394.5 |   |            |   | 628.3  |   |   |   | 2,022.8 |   |

|                                  |   | Consolidated |    |   | Other           |   |   |   |   |
|---------------------------------------|--------|--------------|---------|--------|-----------------|--------|--------|--------|--------|
| October 31, 2008                      |   | VIEs         |    |   | Securitizations |   |   | Total  |   |
| Finance receivables, net of allowance |   | $            | 1,983.1 |   |            | $      | 333.6  |   |   | $ | 2,316.7 |   |
| Net investment in operating leases    |   |         | -       |   |            |   | 72.9   |   |   |   | 72.9 |   |
| Restricted cash and cash equivalents  |   |         | 205.5   |   |            |   | 309.7  |   |   |   | 515.2 |   |
| Vehicle inventory                     |   |         | 22.8    |   |            |   | 7.9    |   |   |   | 30.7 |   |
| Net derivative fair value             |   |         | (38.7   | )      |            |   | 3.3    |   |   |   | (35.4 | ) |
| Secured borrowings                    |   |         | 1,989.6 |   |            |   | 631.9  |   |   |   | 2,621.5 |   |

|   |    |                                                                                                                                                                                                                                         |
|--------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | • | Defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, and establishes a framework for measuring fair value; |
|   |    |                                                                                                                                                                                                                                         |
|   | • | Establishes a three-level hierarchy of fair value measurements based upon the observability of inputs used to value assets and liabilities as of the measurement date;                                                                       |
|   |    |                                                                                                                                                                                                                                         |
|   | • | Requires consideration of  non-performance risk ; and                                                                                                                                                                              |
|   |    |                                                                                                                                                                                                                                         |
|   | • | Expands disclosures about instruments measured at fair value.                                                                                                                                                                      |

----

INDEX

|   |    |                                                                                                                                                                                                                                                      |
|--------|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | • | Level 1 — based upon quoted prices for identical instruments in active markets;                                                                                                                                                           |
|   |    |                                                                                                                                                                                                                                                      |
|   | • | Level 2 — based upon quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; or model-derived valuations whose significant inputs are observable: and |
|   |    |                                                                                                                                                                                                                                                      |
|   | • | Level 3 — based upon one or more significant unobservable input                                                                                                                                                                           |

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | As of July 31, 2009 |    |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------|---------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | Carrying Value      |    |   | FairValue |   |
| Financial assets:                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |                |    |   |   |   |
| Cash and cash equivalents                                                                          |   | $                   | 17.8    |   |   | $ | 17.8 |   |
| Retail notes                                                                                            |   |                | 2,066.2 |   |   |   | 1,879.3 |   |
| Finance receivables from affiliates                                                                     |   |                | 127.0   |   |   |   | 116.6 |   |
| Accounts (wholesale and retail)                                                                         |   |                | 178.4   |   |   |   | 178.4 |   |
| Wholesale notes                                                                                         |   |                | 111.8   |   |   |   | 111.8 |   |
| Amounts due from sales of receivables                                                                   |   |                | 220.3   |   |   |   | 220.3 |   |
| Restricted cash and cash equivalents                                                                    |   |                | 475.5   |   |   |   | 475.5 |   |
| Derivative assets                                                                                       |   |                | 42.7    |   |   |   | 42.7 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |                |    |   |   |   |   |   |
| Financial liabilities:                                                                                                                                                                                                                                                                                                                                                                                                                            |   |                |    |   |   |   |   |   |
| Senior and secured borrowings                                                                           |   | $                   | 3,031.3 |   |   | $ | 2,859.8 |   |
| Derivative liabilities                                                                                  |   |                | 78.7    |   |   |   | 78.7 |   |

|                                                                                                                                                                                                                                                                                                                                                                 |   |    |   |   |    |   |   |    |   |   |   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|--------|--------|---------|--------|--------|---------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                 |   | Level 1 |   |   | Level 2 |   |   | Level 3 |   |   | Total  |   |
| Assets:                                                                                                                                                                                                                                                                                                                                                              |   |    |   |   |    |   |   |    |   |   |   |   |
| Derivative financial instruments                                                                                                                                                                                                                                                                                                                                     |   | $       | -      |   |    | $      | 4.0    |    |   | $      | 38.7   |   |   | $ | 42.7 |   |
| Amounts due from sales of receivables                                                                                                                                                                                                                                                                                                                                |   |    | -      |   |    |   | -      |    |   |   | 220.3  |   |   |   | 220.3 |   |
| Assets total                                                                                          |   | $       | -      |   |    | $      | 4.0    |    |   | $      | 259.0  |   |   | $ | 263.0 |   |
| Liabilities:                                                                                                                                                                                                                                                                                                                                                         |   |    |   |   |    |   |   |    |   |   |   |   |   |   |   |   |
| Derivative financial instruments                                                       |   |    | -      |   |    |   | 41.2   |    |   |   | 37.5   |   |   |   | 78.7 |   |
| Liabilities total                                                                                     |   | $       | -      |   |    | $      | 41.2   |    |   | $      | 37.5   |   |   | $ | 78.7 |   |

----

INDEX

| Three Months ended July 31, 2009                                                                                                                                                                                                                                                                                                          |   | NetDerivatives |   |   | Retained Interests |   |   | Total  |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|--------|--------|--------------------|--------|--------|--------|--------|
| Beginning balance                                                     |   | $              | 1.3    |   |               | $      | 239.2  |   |   | $ | 240.5 |   |
| Unrealized (losses) gains included in earnings                                                                                                                                                                                                                                                                                            |   |           | (0.1   | )      |               |   | 5.5    |   |   |   | 5.4 |   |
| Purchases, issuances and settlements                                                                                                                                                                                                                                                                                                      |   |           | -      |   |               |   | (24.4  | )      |   |   | (24.4 | ) |
| Ending balance                                                                       |   | $              | 1.2    |   |               | $      | 220.3  |   |   | $ | 221.5 |   |
|                                                                                                                                                                                                                                                                                                                                      |   |           |   |   |               |   |   |   |   |   |   |   |

| Nine Months ended July 31, 2009                                                                                                                                                                                                                                                                                                           |   | NetDerivatives |   |   | Retained Interests |   |   | Total  |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|--------|--------|--------------------|--------|--------|--------|--------|
| Beginning balance                                                     |   | $              | -      |   |               | $      | 229.6  |   |   | $ | 229.6 |   |
| Unrealized gains  included in earnings                                                                                                                                                                                                                                                                                          |   |           | 1.2    |   |               |   | 10.5   |   |   |   | 11.7 |   |
| Purchases, issuances and settlements                                                                                                                                                                                                                                                                                                      |   |           | -      |   |               |   | (19.8  | )      |   |   | (19.8 | ) |
| Ending balance                                                                       |   | $              | 1.2    |   |               | $      | 220.3  |   |   | $ | 221.5 |   |
|                                                                                                                                                                                                                                                                                                                                      |   |           |   |   |               |   |   |   |   |   |   |   |

----

INDEX

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | Three Months Ended July 31, |   |   |   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2009                             |   |   | 2008   |   |   | Change |   |   | % Change |   |
| Revenues                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                             |   |   |   |   |   |   |   |   |   |   |
| Financing revenue                                                                                      |   | $                                | 50.3   |   |   | $      | 61.8 |   |   | $ | (11.5 | ) |   |   | (18.6 | ) |
| Securitization income                                                                                  |   |                             | 16.2   |   |   |   | 2.7 |   |   |   | 13.5 |   |   |   | 500.0 |   |
| Operating leases and other revenue                                                                     |   |                             | 7.1    |   |   |   | 9.6 |   |   |   | (2.5 | ) |   |   | (26.0 | ) |
| Total revenues                                                                                         |   |                             | 73.6   |   |   |   | 74.1 |   |   |   | (0.5 | ) |   |   | (0.7 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of borrowing                                                                                      |   |                             | 19.0   |   |   |   | 41.7 |   |   |   | (22.7 | ) |   |   | (54.4 | ) |
| Credit, collections and administrative                                                                 |   |                             | 13.0   |   |   |   | 13.4 |   |   |   | (0.4 | ) |   |   | (3.0 | ) |
| Provision for credit losses                                                                            |   |                             | 9.1    |   |   |   | 13.3 |   |   |   | (4.2 | ) |   |   | (31.6 | ) |
| Depreciation on operating leases                                                                       |   |                             | 4.1    |   |   |   | 4.3 |   |   |   | (0.2 | ) |   |   | (4.7 | ) |
| Derivative expense                                                                                     |   |                             | 4.5    |   |   |   | 1.1 |   |   |   | 3.4 |   |   |   | 309.1 |   |
| Other expenses                                                                                         |   |                             | 1.6    |   |   |   | 2.2 |   |   |   | (0.6 | ) |   |   | (27.3 | ) |
| Total expenses                                                                                         |   |                             | 51.3   |   |   |   | 76.0 |   |   |   | (24.7 | ) |   |   | (32.5 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income before taxes                                                                                    |   |                             | 22.3   |   |   |   | (1.9 | ) |   |   | 24.2 |   |   | N.M. |   |
| Income tax expense                                                                                     |   |                             | 8.4    |   |   |   | (0.5 | ) |   |   | 8.9 |   |   |                                 N.M. |   |
| Net income                                                                                             |   | $                                | 13.9   |   |   | $      | (1.4 | ) |   | $ | 15.3 |   |   | N.M. |   |

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | Nine Months Ended July 31, |   |   |   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   | 2009                            |   |   | 2008   |   |   | Change |   |   | % Change |   |
| Revenues                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                            |   |   |   |   |   |   |   |   |   |   |
| Financing revenue                                                                                      |   | $                               | 161.4  |   |   | $      | 204.7 |   |   | $ | (43.3 | ) |   |   | (21.2 | ) |
| Securitization income                                                                                  |   |                            | 37.7   |   |   |   | 20.0 |   |   |   | 17.7 |   |   |   | 88.5 |   |
| Operating leases and other revenue                                                                     |   |                            | 21.9   |   |   |   | 37.0 |   |   |   | (15.1 | ) |   |   | (40.8 | ) |
| Total revenues                                                                                         |   |                            | 221.0  |   |   |   | 261.7 |   |   |   | (40.7 | ) |   |   | (15.6 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of borrowing                                                                                      |   |                            | 67.9   |   |   |   | 156.2 |   |   |   | (88.3 | ) |   |   | (56.5 | ) |
| Credit, collections and administrative                                                                 |   |                            | 43.4   |   |   |   | 43.6 |   |   |   | (0.2 | ) |   |   | (0.5 | ) |
| Provision for credit losses                                                                            |   |                            | 21.5   |   |   |   | 23.9 |   |   |   | (2.4 | ) |   |   | (10.0 | ) |
| Depreciation on operating leases                                                                       |   |                            | 12.1   |   |   |   | 12.8 |   |   |   | (0.7 | ) |   |   | (5.5 | ) |
| Derivative expense                                                                                     |   |                            | 36.1   |   |   |   | 39.6 |   |   |   | (3.5 | ) |   |   | (8.8 | ) |
| Other expenses                                                                                         |   |                            | 4.3    |   |   |   | 5.1 |   |   |   | (0.8 | ) |   |   | (15.7 | ) |
| Total expenses                                                                                         |   |                            | 185.3  |   |   |   | 281.2 |   |   |   | (95.9 | ) |   |   | (34.1 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income (loss) before taxes                                                                             |   |                            | 35.7   |   |   |   | (19.5 | ) |   |   | 55.2 |   |   | N.M. |   |
| Income tax expense (benefit)                                                                           |   |                            | 13.9   |   |   |   | (6.3 | ) |   |   | 20.2 |   |   | N.M. |   |
| Net income (loss)                                                                                      |   | $                               | 21.8   |   |   | $      | (13.2 | ) |   | $ | 35.0 |   |   | N.M. |   |

|                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Three Months Ended July 31, |   |   |   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------------------------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 2009                             |   |   | 2008   |   |   | Change |   |   | % Change |   |
| Retail notes and finance leases                                                                 |   | $                                | 42.1   |   |   | $      | 53.3 |   |   | $ | (11.2 | ) |   |   | (21.0 | ) |
| Wholesale notes                                                                                 |   |                             | 3.5    |   |   |   | 3.7 |   |   |   | (0.2 | ) |   |   | (5.4 | ) |
| Retail and wholesale accounts                                                                   |   |                             | 4.7    |   |   |   | 4.8 |   |   |   | (0.1 | ) |   |   | (2.1 | ) |
| Total financing revenue                                                                         |   | $                                | 50.3   |   |   | $      | 61.8 |   |   | $ | (11.5 | ) |   |   | (18.6 | ) |

|                                                                                                                                                                                                                                                                                                                                                                                                                            |   | Nine Months Ended July 31, |   |   |   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|--------|--------|--------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                            |   | 2009                            |   |   | 2008   |   |   | Change |   |   | % Change |   |
| Retail notes and finance leases                                                                 |   | $                               | 135.3  |   |   | $      | 172.0 |   |   | $ | (36.7 | ) |   |   | (21.3 | ) |
| Wholesale notes                                                                                 |   |                            | 11.0   |   |   |   | 12.5 |   |   |   | (1.5 | ) |   |   | (12.0 | ) |
| Retail and wholesale accounts                                                                   |   |                            | 15.1   |   |   |   | 20.2 |   |   |   | (5.1 | ) |   |   | (25.2 | ) |
| Total financing revenue                                                                         |   | $                               | 161.4  |   |   | $      | 204.7 |   |   | $ | (43.3 | ) |   |   | (21.2 | ) |

----

INDEX

----

INDEX

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | As of        |    |   |            |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|---------|--------|-----------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                  |   | July 31,2009 |    |   | October 31,2008 |   |   | Change |   |   | % Change |   |
| Cash and cash equivalents                                                                             |   | $            | 17.8    |   |            | $      | 34.4 |   |   | $ | (16.6 | ) |   |   | (48.3 | ) |
| Finance receivables, net                                                                              |   |         | 2,582.8 |   |            |   | 3,090.2 |   |   |   | (507.4 | ) |   |   | (16.4 | ) |
| Amounts due from sales of receivables                                                                 |   |         | 220.3   |   |            |   | 229.6 |   |   |   | (9.3 | ) |   |   | (4.1 | ) |
| Net accounts due from affiliates                                                                      |   |         | 3.8     |   |            |   | 17.5 |   |   |   | (13.7 | ) |   |   | (78.3 | ) |
| Net investment in operating leases                                                                    |   |         | 72.5    |   |            |   | 72.9 |   |   |   | (0.4 | ) |   |   | (0.5 | ) |
| Vehicle inventory                                                                                     |   |         | 27.9    |   |            |   | 42.0 |   |   |   | (14.1 | ) |   |   | (33.6 | ) |
| Restricted cash and cash equivalents                                                                  |   |         | 475.5   |   |            |   | 515.4 |   |   |   | (39.9 | ) |   |   | (7.7 | ) |
| Other assets                                                                                          |   |         | 113.3   |   |            |   | 123.0 |   |   |   | (9.7 | ) |   |   | (7.9 | ) |
| Total assets                                                                                          |   | $            | 3,513.9 |   |            | $      | 4,125.0 |   |   | $ | (611.1 | ) |   |   | (14.8 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |         |    |   |            |   |   |   |   |   |   |   |   |   |   |   |
| Senior and secured borrowings                                                                         |   | $            | 3,031.3 |   |            | $      | 3,679.1 |   |   | $ | (647.8 | ) |   |   | (17.6 | ) |
| Other liabilities                                                                                     |   |         | 167.8   |   |            |   | 173.3 |   |   |   | (5.5 | ) |   |   | (3.2 | ) |
| Total liabilities                                                                                     |   |         | 3,199.1 |   |            |   | 3,852.4 |   |   |   | (653.3 | ) |   |   | (17.0 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |         |    |   |            |   |   |   |   |   |   |   |   |   |   |   |
| Total shareowner’sequity                                                                        |   |         | 314.8   |   |            |   | 272.6 |   |   |   | 42.2 |   |   |   | 15.5 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |         |    |   |            |   |   |   |   |   |   |   |   |   |   |   |
| Total liabilities and shareowner’s equity                                                                                                                                                                                                                                                                                                                                                                                       |   | $            | 3,513.9 |   |            | $      | 4,125.0 |   |   | $ | (611.1 | ) |   |   | (14.8 | ) |
|                                                                                                                                                                                                                                                                                                                                                                                                                                  |   |         |    |   |            |   |   |   |   |   |   |   |   |   |   |   |

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | As of        |   |   |            |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|--------|--------|-----------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   | July 31,2009 |   |   | October 31,2008 |   |   | Change |   |
| Delinquencies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |         |   |   |            |   |   |   |   |
| Retail notes & finance leases greater than 60 days                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |         | 1.5    | %      |            |   | 0.7 | % |   |   | 0.8 |   |
|     Wholesale notes greater than 60 days                                                                                        |   |         | 0.2    | %      |            |   | 0.4 | % |   |   | (0.2 | ) |
|     Wholesale accounts greater than 60 days                                                                                     |   |         | 2.3    | %      |            |   | 2.0 | % |   |   | 0.3 |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |   |         |   |   |            |   |   |   |   |   |   |   |
| Allowance to finance receivable coverage ratio                                                                                  |   |         | 1.4    | %      |            |   | 1.0 | % |   |   | 0.4 |   |

|                                                                               |   | 2009   |   |   | 2008   |   |   | Change |   |
|------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Charge-offs                                                                        |   |   |   |   |   |   |   |   |   |
| Retail notes & finance leases charge-offs – three months                 |   | $      | 5.6    |   |   | $      | 7.8    |   |   | $ | (2.2 | ) |
| Retail notes & finance leases charge-offs – nine months                  |   |   | 16.2   |   |   |   | 19.0   |   |   |   | (2.8 | ) |
|                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Retail notes & finance leases charge-offs to liquidations – three months |   |   | 2.0    | %      |   |   | 1.8    | %      |   |   | 0.2 |   |
| Retail notes & finance leases charge-offs to liquidations – nine months  |   |   | 2.2    | %      |   |   | 1.5    | %      |   |   | 0.7 |   |

----

INDEX

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   | July 31,2009 |   |   | October 31,2008 |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|--------|--------|-----------------|--------|
| Revolver bank loan                                                                                                  |   | $            | 800.0  |   |            | $      | 800.0 |   |
| NFC revolving loan utilized                                                                                         |   |         | (409.5 | )      |            |   | (454.0 | ) |
| Mexican sub-revolver loan utilized                                                                                  |   |         | (29.0  | )      |            |   | (100.0 | ) |
| Total availability                                                                                                                           |   | $            | 361.5  |   |            | $      | 246.0 |   |

----

INDEX

|                                                                                                                                                                                                                                                                                                                                                                      |  Fitch | Standardand Poor’s |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------|--------------------------|
| Senior unsecured debt                                                                                                                                                                                                                                                                                                                                                     | BB-         | BB-                      |
|                                                                                                                                                                                                                                                                                                                                                                      |        |                     |
| Outlook as of February 2008                                                                                                                                                                                                                                                                                                                                               | Negative    | Negative                 |
|                                                                                                                                                                                                                                                                                                                                                                      |        |                     |
| In July 2006, Moody’s withdrew its credit rating for both NIC and NFC.  In January 2006, Standard and Poor’s changed its outlook to Negative from Stable. During February and May 2008, Standard and Poor’s and Fitch, respectively, removed both NIC and NFC from the credit watch with negative implications while outlookremains Negative. |

----

INDEX

Item 3. 

Item 4. 

| ·   | Management is committed to achieving and maintaining a strong control environment, high ethical standards and financial reporting integrity. This commitment will continue to be communicated to and reinforced with our employees. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Management will continue to foster awareness and understanding of standards and principles for accounting and financial reporting. This includes the implementation and clarification of specific accounting policies and procedures and effective execution of our accounting training program. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

INDEX

| ·   | Management will continue to monitor adherence to company accounting policies and procedures through the testing of key controls directly linked to these accounting policies to test for operating effectiveness and help ensure critical accounting procedures are being performed correctly. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

INDEX

PART II

Item 6.

----

INDEX

|          | Navistar Financial Corporation |
|--------------------------------------------------|--------------------------------|
|                                             |                           | (Registrant) |
|                                             |                           |   |
| Date: September 9, 2009                          | By:  /s/             | DAVID L. DERFELT |
|                                             |                           | David L. Derfelt |
|                                             |                           | V.P., and Controller |
|                                             |                           | (Principal Accounting  Officer) |

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INDEX

| 10 | Material Contracts (incorporated by reference): 10.1  Treasurer’s Agreement Number 1, dated January 30, 2009, between Navistar Financial Corporation and Navistar, Inc. An amendment to the Amended and Restated Master Intercompany Agreement dated April 1, 2007. Filed as Exhibit 10.1 to NFC’s Form 8-K on August 6, 2009. Commission file No. 001-04146. 10.2  Treasurer’s Agreement Number 2, dated July 31, 2009, between Navistar Financial Corporation and Navistar, Inc. An amendment to the Amended and Restated Master Intercompany Agreement dated April 1, 2007. Filed as Exhibit 10.2 to NFC’s Form 8-K on August 6, 2009. Commission file No. 001-04146. 10.3  Amendment No. 2 to Receivables Sale Agreement, dated July 31, 2009, between Truck Retail Accounts Corporation and Navistar Financial Corporation. Filed as Exhibit 10.3 to NFC’s Form 8-K on August 6, 2009. Commission file No. 001-04146. 10.4  Amendment No. 10 to Receivables Purchase Agreement, dated July 31, 2009, among Truck Retail Accounts Corporation, Navistar Financial Corporation, JS Siloed Trust and JPMorgan Chase Bank, N.A., successor by merger to Bank One, N.A. Filed as Exhibit 10.4 to NFC’s Form 8-K on August 6, 2009.Commission file No. 001-04146. 10.5  Amendment No. 4, dated August 25, 2009, to the Series 2000-VFC Supplement to the Pooling and Servicing Agreement, dated January 28, 2000, among Navistar Financial Securities Corporation, as Seller, Navistar Financial Corporation, as Servicer, and The Bank of New York Mellon, a New York banking corporation, as Master TrustTrustee. Filed as Exhibit 10.1 to NFC’s Form 8-K on August 26, 2009. Commission file No. 001-04146. 10.6  Amendment and Extension to Amended and Restated Certificate Purchase Agreement, dated August 25, 2009, among Navistar Financial Securities Corporation, Navistar Financial Corporation, Kitty Hawk Funding Corporation, as a Conduit Purchaser, Liberty Street Funding LLC (f/k/a Liberty Street Funding Corp.), as a Conduit Purchaser,The Bank of Nova Scotia, as a Managing Agent and a Committed Purchaser, and Bank of America, National Association, as a Managing Agent, the Administrative Agent and a Committed Purchaser. Filed as Exhibit 10.2 to NFC’s Form 8-K on August 26, 2009. Commission file No. 001-04146.   |
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| 31 | Rule 13a-14(a) and 15d-14(a) Certifications: 31.1 Certification of Principal Executive Officer 31.2 Certification of Principal Financial  Officer                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 32 | Section 1350 Certification: CEO and CFO Certification Pursuant to of Chapter 1350 of Chapter 63 of Title 18 of the United States Code                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |

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