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                                                                     Exhibit 4.6



                       FORM OF SERIES 2000-___ CERTIFICATE

             [Form of the face of the Series 2000-___ Certificates]


                                                                    Initial
REGISTERED                                                 Invested Amount:

Certificate No. R-__

                                                        CUSIP NO. _________



Unless this Certificate is presented by an authorized representative of The
Depository Trust Company, a New York corporation ("DTC"), to the issuer or its
agent for registration of transfer, exchange, or payment, and any certificate
issued is registered in the name of Cede & Co. or in such other name as is
requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
hereof, Cede & Co., has an interest herein.




                            DEALER NOTE MASTER TRUST

                            FLOATING RATE DEALER NOTE
                   ASSET BACKED CERTIFICATES, SERIES 2000-___

       evidencing a fractional undivided interest in certain assets of the

                  NAVISTAR FINANCIAL DEALER NOTE MASTER TRUST,

the corpus of which consists primarily of certain promissory notes acquired by
Navistar Financial Corporation ("NFC") to finance certain vehicles purchased by
a dealer (the "Dealer Notes") and other property related thereto. This
certificate (a "Series 2000-___ Certificate") does not represent an interest in
or obligation of Navistar Financial Securities Corporation ("NFSC" or the
"Seller"), NFC, Navistar International Corporation, a Delaware corporation,
Navistar International Transportation Corp. ("NITC"), a Delaware corporation, or
any affiliate thereof.



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     Unless the certificate of authentication hereon has been executed by or on
behalf of the Master Trust Trustee, by manual signature, this Series 2000-___
Certificate shall not be entitled to any benefit under the Pooling and Servicing
Agreement or be valid for any purpose.

     THIS SERIES 2000-___ CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF ILLINOIS, WITHOUT REFERENCE TO ITS CONFLICT OF LAW
PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.




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IN WITNESS WHEREOF, the Seller has caused this Certificate to be duly executed.

                                     NAVISTAR FINANCIAL
                                     SECURITIES CORPORATION


                                     By: __________________________________
                                              Name:
                                              Title:
Dated:


                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

This is one of the Certificates described in the within-mentioned Pooling and
Servicing Agreement.


THE BANK OF NEW YORK,
as Master Trust Trustee


By:  ___________________________
        Authorized Signatory



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          [Form of the reverse of the Series 2000-___ Certificates]

     This certifies that _________ (the "Series 2000-___ Certificateholder"), is
the registered owner of a fractional undivided interest in certain assets of the
NAVISTAR FINANCIAL DEALER NOTE MASTER TRUST (the "Master Trust") created
pursuant to a Pooling and Servicing Agreement dated as of June 8, 1995 (and as
amended and supplemented from time to time, the "P&S"), by and among NFC, as
Servicer, NFSC, as Seller, The Chase Manhattan Bank, as 1990 Trustee, and the
Master Trust Trustee, as supplemented by the Series 2000-___ Supplement dated as
of __________ (the "Series Supplement") among the Seller, NFC and the Master
Trust Trustee, that are allocated to the Series 2000-___ Certificateholders'
Interest pursuant to the P&S and the Series Supplement. The P&S and the Series
Supplement are hereinafter collectively referred to as the "Pooling and
Servicing Agreement." The corpus of the Master Trust will include:


          (a) the Seller's right, title, and interest in and to all available
     Eligible Dealer Notes existing on each Business Day and owned by the
     Seller, all monies due (including accrued finance charges) or to become due
     with respect thereto and all proceeds (as defined in Section 9-306 of the
     UCC) of such Dealer Notes, the Seller's interest in the security interests
     in the Financed Vehicles related to such Dealer Notes granted by Dealers
     pursuant to the Dealer Agreements and any accessions to such security
     interests, the Seller's interest in the Insurance Proceeds;

          (b) any Enhancements; and

          (c) all other assets and interests constituting the Master Trust.

In addition to the Investor Certificates, the Master Trust Seller's Certificate
issued pursuant to the Pooling and Servicing Agreement represents the Master
Trust Seller's Interest in the Master Trust. The Master Trust Seller's
Certificate represents the interest in the Master Trust's assets not represented
by the Investor Certificates.

     The Dealer Notes consist of promissory notes acquired by NFC to finance the
purchase by certain dealers and manufacturers and other persons having
agreements with NITC to sell certain new and used medium or heavy-duty trucks
and trailers manufactured by NITC or other manufacturers. Generally, the
principal amount of a Dealer Note is equal to the wholesale purchase price of
such vehicles and, subject to certain exceptions, is due upon the retail sale of
the vehicle.

     Subject to the terms and conditions of the Pooling and Servicing Agreement,
the Seller may from time to time direct the Master Trust Trustee, on behalf of
the Master Trust, to issue one or more new Series of Investor Certificates,
which will represent fractional undivided interests in certain of the Master
Trust's assets.




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     This Certificate is issued under and is subject to the terms, provisions
and conditions of the Pooling and Servicing Agreement to which, as amended and
supplemented from time to time, the Series 2000-___ Certificateholder by virtue
of the acceptance hereof assents and is bound. Although a summary of certain
provisions of the Pooling and Servicing Agreement is set forth below, this
Certificate does not purport to summarize the Pooling and Servicing Agreement
and reference is made to the Pooling and Servicing Agreement for information
with respect to the interest, rights, benefits, obligations, proceeds and duties
evidenced hereby and the rights, duties and obligations of the Master Trust
Trustee. A copy of the Pooling and Servicing Agreement (without schedules and
exhibits) may be requested from the Master Trust Trustee by writing to the
Master Trust Trustee at The Bank of New York, Corporate Trust Office, 101
Barclay Street, New York, New York 10286, Attention: Corporation Trust
Department. To the extent not defined herein, the capitalized terms used herein,
have the meanings ascribed to them in the Pooling and Servicing Agreement.

     The Seller has structured the Pooling and Servicing Agreement and the
Investor Certificates with the intention that the Investor Certificates will
qualify under applicable federal, state, local and foreign tax law as
indebtedness. Except to the extent expressly specified to the contrary in the
Series Supplement, the Seller, the Servicer, the Holders of the Master Trust
Seller's Certificates and each Investor Certificateholder agree to treat and to
take no action inconsistent with the treatment of the Investor Certificates (or
beneficial interest therein) as indebtedness for purposes of federal, state,
local and foreign income or franchise taxes and any other tax imposed on or
measured by income. Each Investor Certificateholder, by acceptance of its
Certificate, agrees to be bound hereby.

     On each Distribution Date, the Master Trust Trustee shall distribute to
each Series 2000-___ Certificateholder of record at the close of business on the
Business Day preceding the Distribution Date for the related Due Period (each a
"Record Date") such Certificateholder's pro rata share (based on the aggregate
fractional undivided interest represented by the Series 2000-___ Certificates
held by such Certificateholder, except as otherwise provided in the Pooling and
Servicing Agreement) of such amounts on deposit in any Series Account as are
payable in respect of the Series 2000-___ Certificates pursuant to the Pooling
and Servicing Agreement. Distributions with respect to this Certificate will be
made by the Master Trust Trustee to the Certificateholder of record appearing in
the Certificate Register without the presentation or surrender of this
Certificate or the making of any notation thereon (except for the final
distribution in respect of this Certificate) by wire transfer of immediately
available funds to the account specified by the Certificateholder. Final payment
of this Certificate will be made only upon presentation and surrender of this
Certificate at the office or agency specified in the notice of final
distribution delivered by the Master Trust Trustee to the Certificateholder in
accordance with the Pooling and Servicing Agreement.

     This Certificate does not represent an obligation of, or an interest in,
the Seller, the Servicer, or any affiliate of any of them and is not insured or
guaranteed by any governmental agency or instrumentality. This Certificate is
limited in right of payment to certain Collections with respect to the the
Dealer Notes and certain other amounts, all as more specifically set forth
herein and in the Pooling and Servicing Agreement.




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     The Pooling and Servicing Agreement may be amended from time to time
(including in connection with the issuance of a Supplemental Certificate) by the
Servicer, the Seller and the Master Trust Trustee, without the consent of any of
the Series 2000-___ Certificateholders, so long as any such action shall not, as
evidenced by an Officer's Certificate, adversely affect in any material respect
the interests of the Series 2000-___ Certificateholders or the
certificateholders of any other outstanding Series. The Master Trust Trustee
may, but shall not be obligated to, enter into any such amendment which affects
the Master Trust Trustee's rights, duties or immunities under the Pooling and
Servicing Agreement or otherwise.

     The Pooling and Servicing Agreement may also be amended from time to time
(including in connection with the issuance of a Supplemental Certificate) by the
Servicer, the Seller and the Master Trust Trustee with the consent of the
Holders of Investor Certificates evidencing not less than 66-2/3% of the
aggregate unpaid principal amount of the Investor Certificates of all adversely
affected Series, for the purpose of adding any provisions to or changing in any
manner or eliminating any of the provisions of the Pooling and Servicing
Agreement or of modifying in any manner the rights of the Investor
Certificateholders; provided, however, that no such amendment to the Pooling and
Servicing Agreement shall (i) reduce in any manner the amount of or delay the
timing of distributions to be made to Investor Certificateholders or deposits of
amounts to be so distributed without the consent of such each affected Investor
Certificateholder; (ii) change the definition or the manner of calculating the
interest of any Investor Certificateholder or the amount available under any
Enhancement without the consent of each affected Investor Certificateholder;
(iii) reduce the percentage required to consent to any amendment without the
consent of each Investor Certificateholder; or (iv) adversely affect the rating
of any Series or Class by each Rating Agency without the consent of the Holders
of Investor Certificates of such Series or Class evidencing not less than
66-2/3% of the aggregate unpaid principal amount of the Investor Certificates of
such Series or Class.

     As provided in the Pooling and Servicing Agreement and subject to certain
limitations therein set forth, the transfer of this Certificate is registrable
in the Certificate Register of the Master Trust Trustee upon surrender of this
Certificate for registration of transfer at the office or agency maintained by
the Master Trust Trustee in New York, New York, accompanied by a written
instrument of transfer in form satisfactory to the Master Trust Trustee duly
executed by the Holder hereof or such Holder's attorney duly authorized, and
thereupon one or more new Series 2000-___ Certificates of authorized
denominations evidencing the same aggregate fractional undivided interest will
be issued to the designated transferee or transferees.

     The Certificates are issuable only as registered Certificates without
coupons in denominations specified in the Pooling and Servicing Agreement.

     As provided in the Pooling and Servicing Agreement and subject to certain
limitations therein set forth, Series 2000-___ Certificates are exchangeable for
new Series 2000-___ Certificates evidencing like aggregate fractional undivided
interests as requested by the Certificateholder surrendering such Certificates.
No service charge may be imposed for any such exchange but the Master Trust
Trustee may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection therewith.




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     The Servicer, the Master Trust Trustee, the Transfer Agent and any agent of
any of them, may treat the Person in whose name this Certificate is registered
as the owner hereof for all purposes, and neither the Servicer nor the Master
Trust Trustee, the Transfer Agent, nor any agent of any of them, shall be
affected by notice to the contrary except in certain circumstances described in
the Pooling and Servicing Agreement.



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                                   ASSIGNMENT

Social Security or other identifying number of assignee
------------------

     FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto
    ---------------------------------------------------
                (name and address of assignee)
the within certificate and all rights thereunder, and hereby irrevocably
constitutes and appoints __________, attorney, to transfer said certificate on
the books kept for registration thereof, with full power of substitution in the
premises.


Dated: __________________  ________________________ (1)
                              Signature Guaranteed:

                           -------------------------



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  1 NOTE: The signature of this assignment must correspond with the name of the
registered owner as it appears on the reverse of the within Certificate in every
particular, without alteration, enlargement or any change whatsoever.



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