CONFORMED

                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

                                  Form 10-K

/X/ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934.

For the fiscal year ended  December 31, 1996
                          -------------------

                                      OR

/ / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 
    EXCHANGE ACT OF 1934.

For the transition period from             to            
                               -----------    -----------

Commission file number   -
                       ------

                          PREMIER AUTO TRUST 1996-4
-----------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)


         State of Delaware                                   38-6678032
-----------------------------------------------------------------------------
  (State or other jurisdiction of                        (I.R.S.  Employer
   incorporation or organization)                        Identification No.)


27777 Franklin Road, Southfield, Michigan                         48034
-----------------------------------------------------------------------------
(Address of principal executive offices)                        (Zip Code)


Registrant's telephone number, including area code       (810) 948-3058
                                                   --------------------------

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

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. Yes     x      No          
                                                   ---------     ---------

Indicate by check mark if disclosure of delinquent filers pursuant to Item
405 of Regulation S-K is not contained herein, and will not be contained, to
the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [X]



<PAGE>


                                   PART I.


ITEM 1.     BUSINESS

The Trust was formed under the laws of Delaware pursuant to an Amended and
Restated Trust Agreement (the "Trust Agreement") dated as of August 1, 1996,
among Premier Receivables L.L.C. ("Premier L.L.C."), Chrysler Financial
Corporation ("CFC"), and Chase Manhattan Bank Delaware, acting thereunder not
in its individual capacity but solely as trustee of the Trust.

On August 29, 1996, the Trust issued $250,000,000 aggregate principal amount
of 5.4172% Asset Backed Notes, Class A-1, (which were retained by CFC), 
$600,000,000 aggregate principal amount of Floating Rate Asset Backed Notes,
Class A-2, $353,000,000 aggregate principal amount of 6.20% Asset Backed
Notes, Class A-3 and $240,742,000 aggregate principal amount of 6.40% Asset
Backed Notes, Class A-4 (collectively, the "Notes"). The Notes were issued 
pursuant to an Indenture dated as of August 1, 1996, between the Trust and 
The Bank of New York, as Indenture Trustee. The Trust also issued 
$56,249,236.33 aggregate principal amount of 6.65% Asset Backed Certificates
(the "Certificates"). The Certificates represent fractional undivided 
interests in the Trust. The assets of the Trust include a pool of motor 
vehicle retail installment sale contracts, secured by security interests in 
the motor vehicles financed thereby and including certain monies due or 
received thereunder on or after August 9, 1996, transferred to the Trust by
CFC on August 29, 1996. The Notes are secured by the assets of the Trust 
pursuant to the Indenture.

During October 1996, the Indenture Trustee used certain monies on deposit in
the trust reserve account (the "Reserve Fund") to purchase from CFC
approximately $67,500,000 of Receivables secured by security interests in the
motor vehicles financed thereby. Cash proceeds from the liquidation of these
Receivables are returned to the Reserve Fund. The aggregate principal balance
of these Receivables was approximately $62,700,000 as of December 31, 1996.

The Trust has no employees.

ITEM 2.     PROPERTIES

There is nothing to report with regard to this item.

ITEM 3.     LEGAL PROCEEDINGS

There is nothing to report with regard to this item.

ITEM 4.     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

There is nothing to report with regard to this item.




                                      2


<PAGE>



                                   PART II.

ITEM 5.     MARKET FOR REGISTRANT'S COMMON EQUITY
            AND RELATED STOCKHOLDER MATTERS

There is nothing to report with regard to this item.

ITEM 6.     SELECTED FINANCIAL DATA

The selected financial data has been omitted since the required information
is included in the financial statements or the notes thereto.

ITEM 7.     MANAGEMENT'S DISCUSSION AND ANALYSIS OF
            FINANCIAL CONDITION AND RESULTS OF OPERATION

The Trust was formed under the laws of Delaware pursuant to an Amended and
Restated Trust Agreement (the "Trust Agreement") dated as of August 1, 1996,
among Premier Receivables L.L.C. ("Premier L.L.C."), Chrysler Financial
Corporation ("CFC"), and Chase Manhattan Bank Delaware, acting thereunder not
in its individual capacity but solely as trustee of the Trust.

On August 29, 1996, the Trust issued $250,000,000 aggregate principal amount
of 5.4172% Asset Backed Notes, Class A-1, (which were retained by CFC),
$600,000,000 aggregate principal amount of Floating Rate Asset Backed Notes,
Class A-2, $353,000,000 aggregate principal amount of 6.20% Asset Backed 
Notes, Class A-3 and $240,742,000 aggregate principal amount of 6.40% Asset
Backed Notes, Class A-4 (collectively, the "Notes"). The Notes were issued
pursuant to an Indenture dated as of August 1, 1996, between the Trust and
The Bank of New York, as Indenture Trustee. The Trust also issued 
$56,249,236.33 aggregate principal amount of 6.65% Asset Backed Certificates
(the "Certificates"). The Certificates represent fractional undivided 
interests in the Trust. The assets of the Trust include a pool of motor
vehicle retail installment sale contracts, secured by security interests in 
the motor vehicles financed thereby and including certain monies due or 
received thereunder on or after August 9, 1996, transferred to the Trust by
CFC on August 29, 1996. The Notes are secured by the assets of the Trust 
pursuant to the Indenture.

During October 1996, the Indenture Trustee used certain monies on deposit in
the trust reserve account (the "Reserve Fund") to purchase from CFC
approximately $67,500,000 of Receivables secured by security interests in the
motor vehicles financed thereby. Cash proceeds from the liquidation of these
Receivables are returned to the Reserve Fund. The aggregate principal balance
of these Receivables was approximately $62,700,000 as of December 31, 1996.

The Trust has no employees.




                                      3


<PAGE>


ITEM 8.     FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

<TABLE>
<CAPTION>

                          PREMIER AUTO TRUST 1996-4
                 STATEMENT OF ASSETS, LIABILITIES AND EQUITY
                              DECEMBER 31, 1996
                           (in millions of dollars)


<S>                                                  <C>     
ASSETS

Cash and Cash Equivalents (Note 1)                   $   71.6

Receivables (Note 3)                                  1,370.1
                                                     --------

TOTAL ASSETS                                         $1,441.7
                                                     ========



LIABILITIES AND EQUITY

Amounts Held for Future Distribution (Note 1)        $  120.1

Asset Backed Notes (Notes 3 and 4)                    1,265.4

Asset Backed Certificates (Notes 3 and 4)                56.2
                                                     --------

TOTAL LIABILITIES AND EQUITY                         $1,441.7
                                                     ========



<FN>
See Notes to Financial Statements.
</TABLE>



                                      4


<PAGE>

ITEM 8.     FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (CONTINUED)


<TABLE>
<CAPTION>

                          PREMIER AUTO TRUST 1996-4
                 STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
     FOR THE PERIOD AUGUST 1, 1996 (INCEPTION) THROUGH DECEMBER 31, 1996
                           (in millions of dollars)


<S>                                                  <C>     
CASH RECEIPTS

Proceeds From Sale of Notes and Certificates         $1,500.0

Collections of Principal & Interest, and Other          346.6
                                                     --------

TOTAL CASH RECEIPTS                                   1,846.6
                                                     --------


CASH DISBURSEMENTS

Purchases of Receivables                              1,567.5

Distributions of Principal                              178.3

Distributions of Interest                                22.5

Distributions of Excess Reserves to Seller                1.1

Distributions of Service Fees                             5.6
                                                     --------

TOTAL CASH DISBURSEMENTS                              1,775.0
                                                     --------

CASH RECEIPTS IN EXCESS OF CASH DISBURSEMENTS        $   71.6
                                                     ========



<FN>
See Notes to Financial Statements.
</TABLE>

                                      5


<PAGE>



ITEM 8.     FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (CONTINUED)

                          PREMIER AUTO TRUST 1996-4
                        NOTES TO FINANCIAL STATEMENTS

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting

The financial statements of Premier Auto Trust 1996-4 (the "Trust") are
prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than generally accepted accounting
principles.

Cash and Cash Equivalents

Short-term instruments with a maturity of less than three months when
purchased are considered to be cash equivalents. The Trust received certain
cash deposits from Chrysler Financial Corporation ("CFC") which are held as
liquidity and credit enhancement reserves and invested in short-term
instruments. Under the Sale and Servicing Agreement, the servicer is required
to convey principal and interest collections to the Trust within two business
days after their receipt. The Trust invests these collections in short-term
instruments pending distribution.

Amounts Held for Future Distribution

Amounts held for future distribution represent certain short-term investments
and receivables held for future distributions to Noteholders and
Certificateholders, and for liquidity and credit enhancement reserves.
Amounts held for liquidity and credit enhancement reserves which are not
utilized for future distributions to Noteholders and Certificateholders will
be distributed to Premier Receivables L.L.C. ("Premier L.L.C.").


NOTE 2 - RELATED PARTIES

Premier L.L.C. is a limited liability company controlled by CFC. The Class A-1
Notes issued by the Trust, as described in Note 3, were retained by CFC.


NOTE 3 - SALE OF ASSET BACKED NOTES AND CERTIFICATES

The Trust was formed under the laws of Delaware pursuant to an Amended and
Restated Trust Agreement dated as of August 1, 1996, among Premier L.L.C.,
CFC, and Chase Manhattan Bank Delaware, acting thereunder not in its
individual capacity but solely as trustee of the Trust.





                                      6


<PAGE>



ITEM 8.     FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (CONTINUED)

                          PREMIER AUTO TRUST 1996-4
                        NOTES TO FINANCIAL STATEMENTS


NOTE 3 - SALE OF ASSET BACKED NOTES AND CERTIFICATES - continued

On August 29, 1996, the Trust issued $250,000,000 aggregate principal amount
of 5.4172% Asset Backed Notes, Class A-1 (the "Class A-1 Notes"),
$600,000,000 aggregate principal amount of Floating Rate Asset Backed Notes,
Class A-2 (the "Class A-2 Notes"), $353,000,000 aggregate principal amount of
6.20% Asset Backed Notes, Class A-3 (the "Class A-3 Notes"), and $240,742,000
aggregate principal amount of 6.40% Asset Backed Notes, Class A-4 (the "Class
A-4 Notes" and, together with the Class A-1 Notes, the Class A-2 Notes and
the Class A-3 Notes, the "Notes"). The Notes were issued pursuant to an
Indenture dated as of August 1, 1996, between the Trust and The Bank of New
York, as Indenture Trustee. The Trust also issued $56,249,236.33 aggregate
principal amount of 6.65% Asset Backed Certificates (the "Certificates"). The
Certificates represent fractional undivided interests in the Trust.

The assets of the Trust include a pool of motor vehicle retail installment
sale contracts ("Receivables"), secured by security interests in the motor
vehicles financed thereby and including certain monies due or received
thereunder on or after August 9, 1996, transferred to the Trust by CFC on
August 29, 1996. The Notes are secured by the assets of the Trust pursuant to
the Indenture.

During October 1996, the Indenture Trustee used certain monies on deposit in
the trust reserve account (the "Reserve Fund") to purchase from CFC
approximately $67,500,000 of Receivables secured by security interests in the
motor vehicles financed thereby. Cash proceeds from the liquidation of these
Receivables are returned to the Reserve Fund. The aggregate principal balance
of these Receivables was approximately $62,700,000 as of December 31, 1996.


NOTE 4 - PRINCIPAL AND INTEREST PAYMENTS

Interest on the Class A-1 Notes, the Class A-3 Notes and the Class A-4 Notes
will accrue at the respective fixed per annum interest rates specified above.
The per annum rate of interest on the Class A-2 Notes for each monthly
interest period will equal one-month LIBOR plus 0.03%, subject to a maximum
rate of 12% per annum. Interest on the Notes will generally be payable on the
sixth day of each month or, if any such day is not a Business Day, on the
next succeeding Business Day (each, a "Distribution Date"), commencing
September 6, 1996. Principal of the Notes will be payable on each
Distribution Date to the extent described in the Prospectus Supplement dated
August 22, 1996, and the Prospectus dated March 21, 1996 (collectively, the
"Prospectus"); however, no principal payments will be made (i) on the Class
A-2 Notes until the Class A-1 Notes have been paid in full, (ii) on the Class
A-3 Notes until the Class A-2 Notes have been paid in full or (iii) on the
Class A-4 Notes until the Class A-3 Notes have been paid in full.




                                      7


<PAGE>



ITEM 8.     FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (CONTINUED)

                          PREMIER AUTO TRUST 1996-4
                        NOTES TO FINANCIAL STATEMENTS


NOTE 4 - PRINCIPAL AND INTEREST PAYMENTS - continued

Interest on the Certificates will accrue at the fixed per annum interest rate
specified above and will be distributed to the Certificateholders on each
Distribution Date. No distributions of principal on the Certificates will be
made until all the Notes have been paid in full.

Each class of the Notes and the Certificates will be payable in full on the
applicable final scheduled Distribution Date as set forth in the Prospectus.
However, payment in full of a class of Notes or of the Certificates could
occur earlier than such dates as described in the Prospectus. In addition,
the Class A-4 Notes will be subject to redemption in whole, but not in part,
and the Certificates will be subject to prepayment in whole, but not in part,
on any Distribution Date on which CFC exercises its option to purchase the
Receivables. CFC may purchase the Receivables when the aggregate principal
balance of the Receivables shall have declined to 10% or less of the initial
aggregate principal balance of the Receivables purchased by the Trust.


NOTE 5 - FEDERAL INCOME TAXES

In the opinion of outside legal counsel, for federal income tax purposes, the
Class A-2 Notes, Class A-3 Notes, and Class A-4 Notes will be characterized
as debt, and the Trust will not be characterized as an association (or a
publicly traded partnership) taxable as a corporation.


NOTE 6 - FINANCIAL INSTRUMENTS

The estimated fair value of financial instruments have been determined using
available market information and valuation methodologies as described below.
However, considerable judgment is required in interpreting market data to
develop the estimates of fair value. Accordingly, the estimates presented
herein are not necessarily indicative of the amounts that could be realized
in a current market exchange. The use of different market assumptions or
valuation methodologies may have a material effect on the estimated fair
value amounts.




                                      8


<PAGE>



ITEM 8.     FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA (CONTINUED)

                          PREMIER AUTO TRUST 1996-4
                        NOTES TO FINANCIAL STATEMENTS


NOTE 6 - FINANCIAL INSTRUMENTS - continued

The carrying amounts and estimated fair values of the Trust's financial
instruments at December 31, 1996 were as follows:

<TABLE>
<CAPTION>

                                                  Carrying         Fair
                                                   Amount          Value
                                                  --------         -----
                                                 (in millions of dollars)
<S>                                               <C>             <C>     
Cash and Cash Equivalents                         $   71.6        $   71.6
Receivables                                       $1,370.1        $1,366.4
Amounts Held for Future Distribution              $  120.1        $  112.9
Asset Backed Notes                                $1,265.4        $1,268.4
Asset Backed Certificates                         $   56.2        $   56.7
</TABLE>


Assumptions and Methodologies

The carrying value of cash and cash equivalents approximates market value due
to the short maturity of these instruments.

The fair value of receivables was estimated by discounting expected cash
flows using rates of loans with similar maturities at December 31, 1996.

The fair value of Asset Backed Notes and Certificates was estimated using
quoted market prices.

The fair value of Amounts Held for Future Distribution was estimated at
carrying value for amounts with short-term maturities and at net realizable
value for remaining amounts due Premier L.L.C.



                                      9


<PAGE>

Deloitte &
Touche LLP
----------                          ------------------------------------------
                                    Suite 900         Telephone (313) 396-3000
                                    600 Renaissance Center
                                    Detroit, Michigan 48243-1704


INDEPENDENT AUDITORS' REPORT

Shareholder and Board of Directors
Chrysler Financial Corporation
Southfield, Michigan

We have audited the accompanying statement of assets, liabilities and equity
arising from cash transactions of the Premier Auto Trust 1996-4 as of
December 31, 1996, and the related statement of cash receipts and
disbursements for the period August 1, 1996 (inception) through December 31,
1996. These financial statements are the responsibility of the management of
Chrysler Financial Corporation. Our responsibility is to express an opinion
on these financial statements based on our audit.

We conducted our audit in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements.
An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.

As described in Note 1, these financial statements were prepared on the basis
of cash receipts and disbursements, which is a comprehensive basis of
accounting other than generally accepted accounting principles.

In our opinion, such financial statements present fairly, in all material
respects, the assets, liabilities and equity arising from cash transactions
of the Premier Auto Trust 1996-4 as of December 31, 1996, and its cash
receipts and disbursements for the period August 1, 1996 (inception) through
December 31, 1996 on the basis of accounting described in Note 1.


/s/ Deloitte & Touche LLP

January 21, 1997

--------------------
Deloitte Touche
Tohmatsu
International
--------------------

                                      10
<PAGE>



ITEM 9.     CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS
            ON ACCOUNTING AND FINANCIAL DISCLOSURE

There is nothing to report with regard to this item.

                                  PART III.

ITEM 10.    DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

There is nothing to report with regard to this item.

ITEM 11.    EXECUTIVE COMPENSATION

There is nothing to report with regard to this item.

ITEM 12.    SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

There is nothing to report with regard to this item.

ITEM 13.    CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

There is nothing to report with regard to this item.

                                   PART IV.

ITEM 14.    EXHIBITS, FINANCIAL STATEMENT SCHEDULES,
            AND REPORTS ON FORM 8-K

(a)   The following documents are filed as a part of this report:

1.    Financial Statements

      Financial statements for Premier Auto Trust 1996-4 as follows:

      Statement of Assets, Liabilities and Equity - December 31, 1996 (page 4
      of this report)

      Statement of Cash Receipts and Disbursements for the period August 1,
      1996 (inception) through December 31, 1996 (page 5 of this report)

      Notes to financial statements (pages 6, 7, 8 and 9 of this report)

      Independent Auditors' Report (page 10 of this report)

                                      11


<PAGE>



ITEM 14.    EXHIBITS, FINANCIAL STATEMENT SCHEDULES,
            AND REPORTS ON FORM 8-K (CONTINUED)


2.  Financial Statement Schedules

      All financial statement schedules have been omitted because the
      information to be provided therein is included in the financial
      statements or the notes thereto.

3.  Exhibits

      (a)  The following exhibits are filed as a part of this report:

      Exhibit No.

            3     Certificate of Trust of Premier Auto Trust 1996-4. Filed as
                  Exhibit 3 to the Trust's Quarterly Report on Form 10-Q for
                  the period ended September 30, 1996, and incorporated
                  herein by reference.

            4.1   Amended and Restated Trust Agreement, dated as of August 1,
                  1996, among Premier Receivables L.L.C., Chrysler Financial
                  Corporation and Chase Manhattan Bank Delaware, as Owner
                  Trustee. Filed as Exhibit 4.1 to the Trust's Quarterly
                  Report on Form 10-Q for the period ended September 30,
                  1996, and incorporated herein by reference.

            4.2   Indenture, dated as of August 1, 1996, between Premier Auto
                  Trust 1996-4 and The Bank of New York, as Indenture Trustee
                  (excluding Schedule A). Filed as Exhibit 4.2 to the Trust's
                  Quarterly Report on Form 10-Q for the period ended
                  September 30, 1996, and incorporated herein by reference.

            4.3   Sale and Servicing Agreement, dated as of August 1, 1996,
                  among Premier Auto Trust 1996-4, and Chrysler Financial
                  Corporation (excluding Schedules A and C). Filed as Exhibit
                  4.3 to the Trust's Quarterly Report on Form 10-Q for the
                  period ended September 30, 1996, and incorporated herein by
                  reference.

            27    Financial Data Schedule


      (b)   No reports on Form 8-K were filed by the Trust during the last
            quarter of the period covered by this report.


                                      12


<PAGE>



                          PREMIER AUTO TRUST 1996-4


                                  SIGNATURES


Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.








                                   Premier Auto Trust 1996-4 (Registrant)
                             By:   Chrysler Financial Corporation, as Servicer
                                   -------------------------------------------








Date: March 13, 1997         By:   /s/T. F. Gilman
                                   -------------------------------------------
                                   T. F. Gilman, Vice President and Controller
                                                 Principal Accounting Officer



SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO
SECTION 15(d) OF THE ACT BY REGISTRANTS WHICH HAVE NOT REGISTERED SECURITIES
PURSUANT TO SECTION 12 OF THE ACT.

No annual report or proxy material has been sent to security holders.




                                      13


<PAGE>



                          PREMIER AUTO TRUST 1996-4


                                EXHIBIT INDEX



Exhibit
Number                     Description of Exhibit
-------                    ----------------------

  3    Certificate of Trust of Premier Auto Trust 1996-4. Filed as Exhibit 3
       to the Trust's Quarterly Report on Form 10-Q for the period ended
       September 30, 1996, and incorporated herein by reference.

  4.1  Amended and Restated Trust Agreement, dated as of August 1, 1996,
       among Premier Receivables L.L.C., Chrysler Financial Corporation and
       Chase Manhattan Bank Delaware, as Owner Trustee. Filed as Exhibit 4.1
       to the Trust's Quarterly Report on Form 10-Q for the period ended
       September 30, 1996, and incorporated herein by reference.

  4.2  Indenture, dated as of August 1, 1996, between Premier Auto Trust
       1996-4 and The Bank of New York, as Indenture Trustee (excluding
       Schedule A). Filed as Exhibit 4.2 to the Trust's Quarterly Report on
       Form 10-Q for the period ended September 30, 1996, and incorporated
       herein by reference.

  4.3  Sale and Servicing Agreement, dated as of August 1, 1996, among
       Premier Auto Trust 1996-4, and Chrysler Financial Corporation
       (excluding Schedules A and C). Filed as Exhibit 4.3 to the Trust's
       Quarterly Report on Form 10-Q for the period ended September 30, 1996,
       and incorporated herein by reference.

  27   Financial Data Schedule






                                     E-1