**Exhibit 99.1**

 

Capital One Auto Finance Trust 2002-AAggregate Data for year ended December 31, 2002

 

 
| Defaults                                     | $ | 30,601,634.32  |
|----------------------------------------------|---|----------------|
| Total Collections                            | $ | 335,063,921.84 |
| Scheduled and Prepayment  Principal Received | $ | 186,442,528.83 |
| Collection of Interest and  Fees             | $ | 133,266,843.49 |
| Annual Servicing Fee Paid                    | $ | 23,928,141.18  |
| Class A Investor  Charge-Offs                | $ |  0        |

** **

** **

1

----

 

 

**Capital One Auto Finance Trust**

AutomobileReceivable-Backed Notes, Series 2002-A

ClassA-1 1.98 % Asset Backed Notes

ClassA-2 2.99% Asset Backed Notes

ClassA-3 4.03% Asset Backed Notes

ClassA-4 4.79 % Asset Backed Notes

ClassB 8.35 % Asset Backed Notes

PreliminaryServicer’s Certificate

 

 

 
| **Monthly  Period Beginning:**      | 12/1/2002  | ** ** | ** **            | ** ** | **Cut-off** | **Closing** | **Original**      |
|-------------------------------------|------------|------------|-----------------------|------------|-------------|-------------|-------------------|
| **Monthly  Period Ending:**         | 12/31/2002 | ** ** | **Purchases**         | **Units**  | **Date**    | **Date**    | **Pool Balance**  |
| **Prev.  Distribution/Close Date:** | 12/16/2002 |       | **Initial  Purchase** | 74,011     | 4/18/2002   | 4/23/2002   | $1,086,769,451    |
| **Distribution  Date:**             | 1/15/2003  |       | **Sub.  Purchase #1** | 13,358     | 5/17/2002   | 5/21/2002   | $214,043,551      |
| **Days of  Interest for Period:**   | 30         |       | **Sub.  Purchase #2** |       |        |        |              |
| **Days in  Collection Period:**     | 31         |       | **Sub.  Purchase #3** |       |        |        |              |
| **Months  Seasoned:**               | 9          |       | **Total**        | 87,369     |        |        | $1,300,813,002.37 |

 
| **I.**   | **MONTHLY  PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION:** |
|----------|----------------------------------------------------------------|
| **{1}**  | Beginning of period Aggregate  Principal Balance               |   | **{1}** | $1,110,010,426.57 |
| **{2}**  | Purchase of Subsequent  Receivables                            |   |   | **{2}** | 0.00 |
|     | Monthly Principal Amounts                                      |   |   |   |   |
|     | **{3}**                                                        | Regular Principal Received | **{3}** | 15,564,671.74 |   |   |
|     | **{4}**                                                        | Prepaid Principal Received | **{4}** | 7,676,816.06 |   |   |
|     | **{5}**                                                        | Defaulted Receivables Deposit  Amount | **{5}** | 7,168,724.39 |   |   |
|     | **{6}**                                                        | Principal Portion of Repurchased  Receivables | **{6}** | 0.00 |   |   |
|     | **{7}**                                                        | Cram Down Losses and Other  Non-Cash Adjustments | **{7}** | 10,558.27 |   |   |
|     | **{8}**                                                        | Total Monthly Principal Amounts |   |   | **{8}** | 30,420,770.46 |
| **{9}**  | End of period Aggregate  Receivable Balance                    |   | **{9}** | $1,079,589,656.11 |
| **{10}** | Pool Factor   ( {9} / Original Pool Balance)         |   |   | **{10}** | 0.8299 |

 
| **II.** | **MONTHLY  PERIOD NOTE BALANCE CALCULATION** |
|---------|----------------------------------------------|
|    |                                         |
|    |                                         |   | **Class A-1** | **Class A-2** | **Class A-3** | **Class A-4** | **Class B** | **TOTAL** |
|    | **{11}**                                     | Original  Note Balance | **{11}** | $209,000,000 | $349,000,000 | $320,000,000 | $322,000,000 | $65,040,000 | $1,265,040,000 |
|    | **{12}**                                     | Beginning  of period Note Balance | **{12}** | 23,921,495 | 349,000,000 | 320,000,000 | $322,000,000 | 8,191,231 | $1,023,112,726 |
|    | **{13}**                                     | Noteholders'  Principal Distributable Amount | **{13}** | 23,921,495 | 5,586,652 | 0 | 0 | 912,623 | 30,420,770 |
|    | **{14}**                                     | Noteholders'  Accelerated Principal Amount | **{14}** | 0 | 0 | 0 | 0 | 2,926,673 | 2,926,673 |
|    | **{15}**                                     | Optional Note Redemption  Principal Amount | **{15}** | 0 | 0 | 0 | 0 | 0 | 0 |
|    | **{16}**                                     | End  of period Note Balance | **{16}** | 0 | 343,413,348 | 320,000,000 | $322,000,000 | 4,351,935 | $989,765,283 |
|    | **{17}**                                     | Note  Pool Factors  ({16} / {11}) | **{17}** | - | 0.9840 | 1.0000 | 1.0000 | 0.0669 | 0.7824 |
|         |                                              |  |  |  |  |  |  |  |  |  |

 
| **III.** | **RECONCILIATION OF PRE-FUNDING ACCOUNT:**       |                                                                |     |   |
|----------|--------------------------------------------------|---------------------------------------------------------------------|----------|--------|
| **{18}** | Beginning  of period Pre-Funding Account balance | **{18}**                                                            |     | $0.00  |
|     | **{19}**                                         | Purchase  of Subsequent Receivables                                 | **{19}** | 0.00   |   |
|     | **{20}**                                         | Investment  Earnings                                                | **{20}** | 0.00   |   |
|     | **{21}**                                         | Investment  Earnings Transfer to Collections Account                | **{21}** | 0.00   |   |
|     | **{22}**                                         | Payment  of Mandatory Prepayment Amount                             | **{22}** | 0.00   |   |
|     | **{23}**                                         | Mandatory  Reduction of the Prefunding Account After Final Addition | **{23}** | 0.00   |   |
| **{24}** | End  of period Pre-Funding Account balance       | **{24}**                                                            |     | $0.00  |

 

2

----

 
| **IV.**               | **RECONCILIATION  OF COLLECTION ACCOUNT:** | ** **                                                                                                                                                                        | ** **                  | ** **         |
|-----------------------|--------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------|--------------------|
| **Available  Funds:** | ** **                                 | ** **                                                                                                                                                                        | ** **                  |
| ** **            | **{25}**                                   | Scheduled  and Prepayment Principal Cash Received                                                                                                                                 | **{25}**                    | 23,241,487.80      |   |
| ** **            | **{26}**                                   | Liquidation  Proceeds Collected during period                                                                                                                                     | **{26}**                    | 1,700,332.29       |   |
| ** **            | **{27}**                                   | Receivables  Repurchase Amounts                                                                                                                                                   | **{27}**                    | 0.00               |   |
| ** **            | **{28}**                                   | Interest  and Fees Collected on Receivables                                                                                                                                       | **{28}**                    | 13,918,106.28      |   |
| ** **            | **{29}**                                   | Recoveries  on Previously Defaulted Receivables                                                                                                                                   | **{29}**                    | 813,492.98         |   |
| ** **            | **{30}**                                   | Advances  from the Reserve Fund                                                                                                                                                   | **{30}**                    | 0.00               |   |
| ** **            |                                       | Investment  Earnings on Trust Accounts                                                                                                                                            |                        |               |   |
| ** **            | **{31}**                                   | Collection  Account                                                                                                                                                               | **{31}**                    | 36,821.37          |   |
| ** **            | **{32}**                                   | Transfer  from Reserve Fund                                                                                                                                                       | **{32}**                    | 14,713.51          |   |
| ** **            | **{33}**                                   | Transfer  from Pre-Funding Account                                                                                                                                                | **{33}**                    | 0.00               |   |
| ** **            | **{34}**                                   | Transfer  from the Pre-Funding Account                                                                                                                                            | **{34}**                    | 0.00               |   |
| ** **            | **{35}**                                   | Optional  Note Redemption Prepayment Amount                                                                                                                                       | **{35}**                    | 0.00               |   |
| ** **            | **{36}**                                   | Class  B Noteholder’s Accelerated Principal Amount Not Distributed in Prior Month                                                                                            | **{36}**                    | 0.00               |   |
|                  | **{37}**                                   | Total  Available Funds                                                                                                                                                            | **{37}**                    |               | 39,724,954.23 |
| ** **            | ** **                                 | ** **                                                                                                                                                                        | ** **                  | ** **         | ** ** |
| **Distributions:**    | ** **                                 | ** **                                                                                                                                                                        | ** **                  |
| ** **            | **{38}**                                   | Trustees’  Fees                                                                                                                                                              | **{38}**                    | 0.00               | ** ** |
| ** **            | **{39}**                                   | Servicing  Fees                                                                                                                                                                   | **{39}**                    | 2,814,653.39       | ** ** |
|                  |                                       |                                                                                                                                                                              |                        |               |   |
| ** **            |                                       | **Class A  Noteholders’ Note Interest**                                                                                                                                      |                        |               | ** ** |
| ** **            | ** **                                 | **Class**                                                                                                                                                                         | **Beginning  Note Balance** | **Interest  Rate** | **Days** | **Days  Basis** | **Calculated  Interest** |   |   | ** ** |
| ** **            | **{40}**                                   | Class A-1                                                                                                                                                                         | $23,921,495                 | 1.98000%           | 30 | Actual  days/360 | $39,470 | **{40}** | 39,470.47 | ** ** |
| ** **            | **{41}**                                   | Class A-2                                                                                                                                                                         | $349,000,000                | 2.99000%           | 30 | 30/360 | 869,592 | **{41}** | 869,591.67 | ** ** |
|                  | **{42}**                                   | Class A-3                                                                                                                                                                         | $320,000,000                | 4.03000%           | 30 | 30/360 | 1,074,667 | **{42}** | 1,074,666.67 |   |
| ** **            | **{43}**                                   | Class A-4                                                                                                                                                                         | $322,000,000                | 4.79000%           | 30 | 30/360 | 1,285,317 | **{43}** | 1,285,316.67 | ** ** |
| ** **            |                                       |                                                                                                                                                                              |                        |               | ** ** |
| ** **            | **{44}**                                   | Note Insurer Premiums                                                                                                                                                             | **{44}**                    | 236,815.02         | ** ** |
| ** **            | **{45}**                                   | Reimbursement Obligations due Note Insurer                                                                                                                                        | **{45}**                    | 0.00               | ** ** |
|                  |                                       |                                                                                                                                                                              |                        |               |   |   |   |   |   |   |   |
| ** **            | ** **                                 | **Class B  Noteholders’ Primary Note Interest**                                                                                                                              | ** **                  | ** **         | ** ** |
| ** **            | ** **                                 | **Class**                                                                                                                                                                         | **Beginning  Note Balance** | **Interest  Rate** | **Days** | **Days  Basis** | **Calculated  Interest** | ** ** | ** ** | ** ** |
| ** **            | **{46}**                                   | Class B                                                                                                                                                                           | $8,191,231                  | 8.35000%           | 30 | 30/360 | 56,997 | **{46}** | 56,997.31 | ** ** |
|                  |                                       |                                                                                                                                                                              |                        |               |   |   |   |   |   |   |
| ** **            | **{47}**                                   | Class A Noteholders’  Principal Payment Amount                                                                                                                               | **{47}**                    | 29,508,147.35      | ** ** |
| ** **            | **{48}**                                   | Accrued and Unpaid Premium  and Reimbursement Obligations, due Note Insurer                                                                                                       | **{48}**                    | 0.00               |   |
| ** **            | **{49}**                                   | Deposit to Reserve Account,  to Required Level                                                                                                                                    | **{49}**                    | 0.00               |   |
| ** **            | **{50}**                                   | Class A Noteholder’s  Accelerated Principal Amount (if in an event of default under the indenture  or, under certain circumstances, an insurance agreement event of default) | **{50}**                    | 0.00               |   |
| ** **            | **{51}**                                   | Class B Noteholders’  Principal Payment Amount                                                                                                                               | **{51}**                    | 912,623.11         |   |
| ** **            | **{52}**                                   | Class B Noteholder’s  Accelerated Principal Amount                                                                                                                           | **{52}**                    | 2,926,672.58       |   |
| ** **            | **{53}**                                   | Optional Note Redemption  Amount                                                                                                                                                  | **{53}**                    | 0.00               |   |
| ** **            | **{54}**                                   | Other Amounts Due to the  Trustees                                                                                                                                                | **{54}**                    | 0.00               |   |
| ** **            | **{55}**                                   | Servicer Transition  Expenses                                                                                                                                                     | **{55}**                    | 0.00               |   |
| ** **            | **{56}**                                   | Indenture Trustee Title  Expenses                                                                                                                                                 | **{56}**                    | 0.00               |   |
| ** **            | **{57}**                                   | Class B Excess Interest                                                                                                                                                           | **{57}**                    | 0.00               |   |
| ** **            | **{58}**                                   | Distribution to the equity  certificate holder                                                                                                                                    | **{58}**                    | 0.00               |   |
| **{59}**              | Total distributions                        | **{59}**                                                                                                                                                                          | ** **                  | 39,724,954.23      |
|                       |                                            |                                                                                                                                                                                   |                             |                    |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

 

3

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| **V.**   | **RECONCILIATION  OF RESERVE ACCOUNT:**                             |                                                                                                  |                       |           |       |         |
|----------|---------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------|----------------------------|----------------|------------|--------------|
|     |                                                                |                                                                                                  |                       |           |       |         |   |
| **{60}** | **Beginning  of period Reserve Account balance**                    | **{60}**                                                                                              |                       | $13,008,130.02 |
|     |                                                                |                                                                                                  |                       |           |
|     | **Deposits to Reserve Account**                                     |                                                                                                  |                       |           |
|     | **{61}**                                                            | Investment Earnings                                                                                   | **{61}**                   | 14,713.51      |       |
|     | **{62}**                                                            | Initial Reserve Deposit                                                                               | **{62}**                   | -              |       |
|     | **{63}**                                                            | Capitalized Interest Amount                                                                           | **{63}**                   | -              |       |
|     | **{64}**                                                            | Deposits Related to Subsequent  Receivables Purchases                                                 | **{64}**                   | -              |       |
|     | **{65}**                                                            | Total Additions                                                                                       | **{65}**                   |           | $14,713.51 |
|     |                                                                |                                                                                                  |                       |           |       |
|     | **Priority  Withdrawals from Reserve Account**                      |                                                                                                  |                       |           |
|     | **{66}**                                                            | Transfer of Investment  Earnings to Collection Account                                                | **{66}**                   | (14,713.51)    |       |
|     | **{67}**                                                            | Advances to Collection  Account - Priority (1) through (7)                                            | **{67}**                   | -              |       |
|     |                                                                | **{68}**                                                                                              | Total Priority Withdrawals | **{68}**       |       | ($14,713.51) |
|     |                                                                |                                                                                                  |                       |           |       |
| **{69}** | **Reserve  Account Subtotal**                                       | **{69}**                                                                                              |                       | $13,008,130.02 |
|     | **{70}**                                                            | Reserve Account Requirement                                                                           | **{70}**                   | 13,008,130.02  |       |
|     | **{71}**                                                            | Reserve Account Excess /  (Shortfall)                                                                 | **{71}**                   | -              |       |
| **{72}** | **Deposit to  / (Withdrawal from) Reserve Fund, to Required Level** | **{72}**                                                                                              |                       | $0.00          |
| **{73}** | **Reserve  Account Primary Balance**                                | **{73}**                                                                                              |                       | $13,008,130.02 |
|     |                                                                |                                                                                                  |                       |           |       |
|     | **Subordinate  Withdrawals from Reserve Account**                   |                                                                                                  |                       |           |
|     | **{74}**                                                            | Advances to Collection  Account - Priority (10), (16) and (17) (limited to excess amounts on deposit) | **{74}**                   | -              |       |
|     | **{75}**                                                            | Advances to Collection  Account - Priority (12) through (15)                                          | **{75}**                   | -              |       |
|     | **{76}**                                                            | Return of Excess to Equity  Certificate Holder                                                        | **{76}**                   | -              |       |
|     | **{77}**                                                            | Total Subordinate  Withdrawals                                                                        | **{77}**                   |           | -          |
|     |                                                                |                                                                                                  |                       |           |       |
| **{78}** | **End of  period Reserve Account balance**                          | **{78}**                                                                                              |                       | 13,008,130.02  |
|          |                                                                     |                                                                                                       |                            |                |            |              |  |  |

 
| **VI.** | **CALCULATION OF RESERVE ACCOUNT REQUIREMENT**  |                                                                     |     |          |
|---------|-------------------------------------------------|--------------------------------------------------------------------------|----------|---------------|
|    |                                            |                                                                     |     |          |   |
|    | **If Prior to Accelerated Reserve Fund Event:** |                                                                     |     |          |
|    |                                            | Lesser  of:                                                              |     |          |   |
|    | **{79}**                                        | (1) Ending Aggregate Note Balance                                        | **{79}** |          | 989,765,282.76 |
|    |                                            | —or—                                                           |     |          |   |
|    | **{80}**                                        | (2) 1.0% of Aggregate Receivables Balance as of the latest Cut-Off  Date | **{80}** |          | 13,008,130.02 |
|    |                                            |                                                                     |     |          |   |
|    | **{81}**                                        | **Requirement**                                                          | **{81}** |          | 13,008,130.02 |
|    |                                            |                                                                     |     |          |
|    | **If Accelerated Reserve Fund Event:**          |                                                                     |     |          |
|    |                                            | Lesser  of:                                                              |     |          |   |
|    | **{82}**                                        | (1) Ending Aggregate Note Balance                                        | **{82}** |          | 989,765,282.76 |
|    |                                            | —or—                                                           |     |          |   |
|    |                                            | (2) Greater of:                                                          |     |          |   |
|    | **{83}**                                        | (a) 3.0% of Original Receivable Balance                                  | **{83}** | 39,024,390.07 |   |
|    | **{84}**                                        | —or—                                                           | **{84}** |          | 59,124,800.86 |
|    | **{85}**                                        | (b) 6.0% of Current Outstanding Class A Note Principal Balance           | **{85}** | 59,124,800.86 |   |
|    |                                            |                                                                     |     |          |   |
|    | **{86}**                                        | **Requirement**                                                          | **{86}** |          | 59,124,800.86 |

 
| **VII.** | **CALCULATION OF PRINCIPAL PAYMENT AMOUNTS** |                                                                                      |     |             |
|----------|----------------------------------------------|-------------------------------------------------------------------------------------------|----------|------------------|
|     |                                         |                                                                                      |     |             |   |
|     | **{87}**                                     | Principal  Collections                                                                    | **{87}** | 30,420,770.46    |   |
|     | **{88}**                                     | End  of Period Aggregate Receivables Balance + Prefunding Amount                          | **{88}** | 1,079,589,656.11 |   |
|     | **{89}**                                     | Targeted  Class A Note Balance (line {88} X 88%)                                          | **{89}** | 950,038,897.38   |   |
|     | **{90}**                                     | Class  A Aggregate Oustanding Principal Balance (Start of Period)                         | **{90}** | 1,014,921,495.02 |   |
|     |                                         |                                                                                      |     |             |   |
|     |                                         | Allocable  to Class A Notes:                                                              |     |             |   |
|     |                                         | Lesser  of:                                                                               |     |             |   |
|     | **{91}**                                     | Principal  Collections X 97%                                                              | **{91}** | 29,508,147.35    |   |
|     | **{92}**                                     | Payment  Amount Necessary to Reduce Class A Balance to Required Level (line {90} -  {89}) | **{92}** | 64,882,597.65    |   |
|     | **{93}**                                     | Refund  of Amounts on Deposit in the Pre-Funding Account                                  | **{93}** | 0.00             |   |
|     |                                         |                                                                                      |     |             |   |
|     | **{94}**                                     | Class  A Principal Payment Amount (Minimum of {91} and {92})                              | **{94}** |             | 29,508,147.35 |
|     |                                         |                                                                                      |     |             |   |
|     |                                         | Allocation  to Class B Notes:                                                             |     |             |   |
|     | **{95}**                                     | Prinicpal  Collections X 3%                                                               | **{95}** |             | 912,623.11 |
|          |                                              |                                                                                           |          |                  |  |  |

 

IN WITNESSWHEREOF, the undersigned has duly executed and delivered thisMonthlyServicer’s Report as dated above.

 

 

OFFICERS’ CERTIFICATE

 

Theundersigned hereby certifies that ( i ) he or she is an Authorized Officer ofCaptial One Auto Finance ( the “Servicer” ),and( ii ) Exhibit A hereto complies with the requirements of, and is beingdelivered pursuant to, Section 2.02 ( c ) of the ServicingAgreement( the “Servicing Agreement” ) dated as of April 23, 2002 by and among CaptialOne Auto Finance Trust 2002-A, as the Issuer, JP Morgan Chase Bank, Trustee,and the Servicer.

 

 

CAPITAL ONE AUTOFINANCE

 

 

Capital One AutoFinance, as Servicer

 

 
| By:    | /s/ Tom Feil               |
|--------|----------------------------|
| Name:  | Tom  Feil                  |
| Title: | Director,  Capital Markets |
| Date:  | 01/15/03                   |

 

 

4

----

 

**Capital One Auto Finance Trust**

AutomobileReceivable-Backed Notes, Series 2002-A

ClassA-1 1.98 % Asset Backed Notes

ClassA-2 2.99% Asset Backed Notes

ClassA-3 4.03% Asset Backed Notes

ClassA-4 4.79% Asset Backed Notes

ClassB 8.35% Asset Backed Notes

Servicer’s Certificate

 

 

 
| **Monthly  Period Beginning:**      | 12/1/2002  |
|-------------------------------------|------------|
| **Monthly  Period Ending:**         | 12/31/2002 |
| **Prev.  Distribution/Close Date:** | 12/16/2002 |
| **Distribution  Date:**             | 1/15/2003  |
| **Days of  Interest for Period:**   | 30         |
| **Days in  Collection Period:**     | 31         |
| **Months  Seasoned:**               | 9          |

 
| **I.**  | **MONTHLY  PERIOD NOTE BALANCE CALCULATION:** | **Class A-1** | **Class A-2** | **Class A-3** | **Class A-4** | **Class B**  | **TOTAL**   |
|---------|-----------------------------------------------|---------------|---------------|---------------|---------------|--------------|-------------|
| **{1}** | Original Note Balance                         | **{1}**       | $209,000,000  | $349,000,000  | $320,000,000  | $322,000,000 | $65,040,000 | $1,265,040,000 |
| **{2}** | Beginning of period Note  Balance             | **{2}**       | $23,921,495   | $349,000,000  | $320,000,000  | $322,000,000 | $8,191,231  | $1,023,112,726 |
| **{3}** | End of period Note  Balance                   | **{3}**       | $0            | $343,413,348  | $320,000,000  | $322,000,000 | $4,351,935  | $989,765,283 |
| **{4}** | Note Pool Factors  {3} / {1}             | **{4}**       | —        | 0.984         | 1.000         | 1.000        | 0.067       | 0.782 |

 
| **II.**  | **MONTHLY  PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION:** |
|----------|-----------------------------------------------------------------------|
|     |                                                                  |   | **Cumulative** | **Period** |
| **{5}**  | Beginning number of  Receivables                                      | **{5}** | 74,011 | 80,374 |
| **{6}**  | Number of Subsequent  Receivables Purchased                           | **{6}** | 13,358 | 0 |
| **{7}**  | Number of Receivables  Defaulted during period                        | **{7}** | 2,388 | 538 |
| **{8}**  | Number of Receivables  becoming Purchased Receivables during period   | **{8}** | 302 | 0 |
| **{9}**  | Number of Receivables  paid off during period                         | **{9}** | 5,624 | 781 |
| **{10}** | Ending number of  Receivables                                         | **{10}** | 79,055 | 79,055 |

 
| **III.** | **STATISTICAL  DATA:  (CURRENT AND HISTORICAL)** |
|----------|-------------------------------------------------------|
|     |                                                  |   |   | **Original** | **Prev. Month** | **Current** |
| **{11}** | Weighted Average APR of  the Receivables              |   | **{11}** | 15.49% | 15.78% | 15.78% |
| **{12}** | Weighted Average  Remaining Term of the Receivables   |   | **{12}** | 60.64 | 55.45 | 54.62 |
| **{13}** | Weighted Average Original  Term of Receivables        |   | **{13}** |              62.50 | 62.50 | 62.50 |
| **{14}** | Average Receivable  Balance                           |   | **{14}** | $14,684 | $13,789 | $13,633 |

 

 

5

----

 
| **IV.**                                        | **DELINQUENCY:**                                                                  |
|------------------------------------------------|-----------------------------------------------------------------------------------|
| Receivables with  Scheduled Payment delinquent |                                                                              | **Units** | **Dollars** | **Percentage** |
| **{15}**                                       | 31-60 days                                                                        |   | **{15}** | 5,061 | 72,468,155 | 6.53% |
| **{16}**                                       | 61-90 days                                                                        |   | **{16}** | 1,526 | 21,827,640 | 1.97% |
| **{17}**                                       | 91-120 days                                                                       |   | **{17}** | 459 | 6,473,497 | 0.58% |
| **{18}**                                       | Receivables with  Scheduled Payment delinquent more than 60 days at end of period |   | **{18}** | 1,985 | $28,301,138 | 2.55% |
|                                                |                                                                                   |  |  |  |  |  |  |

 
| **V.**                 | **PERFORMANCE  TESTS:**                                                                                                                                                           |
|------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **Delinquency  Ratio** |                                                                                                                                                                              |   |   |   |   |
| **{19}**               | Receivables with  Scheduled Payment delinquent more than 60 days at end of period ( line {18})                                                                                    |   | **{19}** | $28,301,138 |   |
| **{20}**               | Beginning of period  Principal Balance                                                                                                                                            |   | **{20}** | 1,110,010,427 |   |
|                   |                                                                                                                                                                              |   |   |   |   |   |
| **{21}**               | Delinquency Ratio {16} +  {17} divided by {20}                                                                                                                                    |   | **{21}** |   | 2.55% |
| **{22}**               | Previous Monthly Period  Delinquency Ratio                                                                                                                                        |   | **{22}** |   | 2.16% |
| **{23}**               | Second previous Monthly  Period Delinquency Ratio                                                                                                                                 |   | **{23}** |   | 1.96% |
|                   |                                                                                                                                                                              |   |   |   |   |   |
| **{24}**               | Average Delinquency Ratio  ({21} + {22} + {23}) / 3                                                                                                                               |   | **{24}** |   | 2.22% |
|                   |                                                                                                                                                                              |   |   |   |   |   |
|                   | Compliance with  Accelerated Reserve Fund Trigger? (Average Delinquency Ratio is less than or  equal to 3% months 1-12, 4% months 13-24, 5% months 25-36 and 5.5%  thereafter)    | ** ** | ** ** | Yes |
|                   | Complaince with Insurance  Agreement Event of Default? (Average Delinquency Ratio is less than or equal  to 4% months 1-12, 5% months 13-24, 6% months 25-36 and 6.5% thereafter) | ** ** | ** ** | Yes |
|                        |                                                                                                                                                                                   |  |  |  |  |  |  |  |  |

 
| **Cumulative  Net Charge-off Rate** |                                                                      |     |       |
|-------------------------------------|---------------------------------------------------------------------------|----------|------------|
| **{25}**                            | Net Losses since Initial  Cut-off Date (Beginning of Period)              | **{25}** |       | $17,148,631 |
| **{26}**                            | Receivables becoming  Defaulted Receivables during period                 | **{26}** | $7,168,724 |   |
| **{27}**                            | Cram Down Losses and  other non-cash Adjustments occurring during period  | **{27}** | $10,558    |   |
| **{28}**                            | Liquidation Proceeds  collected during period                             | **{28}** | $1,700,332 |   |
| **{29}**                            | Recoveries on Defaulted  Receivables during period                        | **{29}** | $813,493   |   |
| **{30}**                            | Net Losses during period  {26} + {27} - {28} - {29}                       | **{30}** | $4,665,457 |   |
| **{31}**                            | Net Losses since Initial  Cut-off Date (End of Period)                    | **{31}** |       | $21,814,088 |
| **{32}**                            | Cumulative Net Loss Rate  ({31}) / {Original Aggregate Principal Balance} | **{32}** |       | 1.68% |

 
|   | Compliance with  Accelerated Reserve Fund Trigger?     | Cumulative Net Loss Rate  is less than or equal to: | 0.04625 | ** ** | Yes |
|--------|--------------------------------------------------------|-----------------------------------------------------|---------|------------|-----|
|   | Complaince with Insurance  Agreement Event of Default? | Cumulative Net Loss Rate  is less than or equal to: | 0.0525  | ** ** | Yes |

 
| **Extension  Rate** |                                                                               |       |       |
|---------------------|------------------------------------------------------------------------------------|------------|------------|
| **{33}**            | Number of Receivables  extended during current period                              | **{33}**   | 684        |   |
| **{34}**            | Beginning of Period Loans  Outstanding                                             | **{34}**   | 80,374     |   |
| **{35}**            | Extension Rate {33}  divided by {34}                                               | **{35}**   |       | 0.85% |
| **{36}**            | Previous Monthly  Extension Rate                                                   | **{36}**   |       | 1.35% |
| **{37}**            | Second previous Monthly  Extension Rate                                            | **{37}**   |       | 0.39% |
|                |                                                                               |       |       |   |
| **{38}**            | Average Extension Rate  ({35} +{36} +{37}) / 3                                     | **{38}**   |       | 0.86% |
|                |                                                                               |       |       |   |
|                | Compliance (Extension  Test Pass is an Average Extension Rate less than 4%.)  | ** ** | ** ** | Yes |

 

6

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