**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**WASHINGTON,
      D.C. 20549**









**FORM
      10-K**




**ANNUAL
      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE**


**SECURITIES
      EXCHANGE ACT OF 1934**





þ
            ANNUAL
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                ACT OF
                1934
              For
                the fiscal year ended December 31, 2007 ̈
            TRANSITION
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                ACT OF
                1934
              For
                the transition period from ____________to
                ____________





**333-131356-04**


(Commission
      File Number of Issuing Entity)




**USAA
      Auto Owner Trust 2007-1**


(Exact
      name of Issuing Entity as specified in its charter)




**USAA
      Acceptance, LLC**


(Exact
      name of Depositor as specified in its charter)




**USAA
      Federal Savings Bank**


(Exact
      name of Sponsor as specified in its charter)




**Delaware**
            **37-6417895**(State
                or other jurisdiction of
              incorporation
                or organization)
            (I.R.S.
                Employer
              Identification
                No.)





**c/o
                Wells Fargo Delaware****Trust
                Company****919
                Market Street****Suite
                1600****Wilmington,
                Delaware**
            **19801**(Address
                of principal executive offices)
            (Zip
                Code)




**(302)
      888-7536**


(Registrant’s
      telephone number, including area code)







Securities
      registered pursuant to Section 12(b) of the Securities Exchange
      Act:




Title
                of each class
            
            Name
                of each exchange on which registeredNone
            
            None




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




Indicate
      by check mark if the registrant is a well-known seasoned issuer (as defined
      in
      Rule 405 of the Securities Act).  ̈ Yes þ No




Indicate
      by check mark if the registrant is not required to file reports pursuant to
      Section 13 or Section 15(d) of the Securities Exchange
      Act.  ̈ Yes þ No










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. þ Yes  ̈ No




Indicate
      by check mark if disclosure of delinquent filers pursuant to Item
      405 of
      Regulation S-K (§ 229.405 of this chapter) 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. þ




Indicate
      by check mark whether the registrant is a large accelerated filer, an
      accelerated filer, or a non-accelerated filer. See definition of “accelerated
      filer and large accelerated filer” in Rule 12b-2 of the Securities Exchange Act.
      (Check one):




Large
                Accelerated Filer: o
            Accelerated
                Filer: oLarge
                Accelerated Filer: o
            Accelerated
                Filer: oNon-accelerated
                filer: þ
            Smaller
                reporting company: o(Do
                not check if a smaller reporting company)




Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Securities
      Exchange Act). Yes   ̈ No þ




State
      the
      aggregate market value of the voting and non-voting common equity held by
      non-affiliates computed by reference to the price at which the common equity
      was
      last sold, or the average bid and asked price of such common equity, as of
      the
      last business day of the registrant's most recently completed second fiscal
      quarter. **None**




Documents
      incorporated by reference: **See
      Exhibit Index.**








**FORM
      10-K**




**PART
      1**




**THE
      FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL INSTRUCTION J(1)
      TO
      FORM 10-K:**




**(A)
                Item 1**
            **Business.****(B)
                Item 1A**
            **Risk
                Factors.****(C)
                Item 2**
            **Properties.****(D)
                Item 3**
            **Legal
                Proceedings.****(E)
                Item 4**
            **Submission
                of Matters to a Vote of Security
                Holders.**




**Item 1B.
      Unresolved Staff Comments.**




Not
      Applicable.




**PART
      II**




**THE
      FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL INSTRUCTION J(1)
      TO
      FORM 10-K:**




**(A)
                Item 5**
            **Market
                for Registrant’s Common Equity and Related Stockholder Matters and Issuer
                Purchases of Equity Securities.****(B)
                Item 6**
            **Selected
                Financial Data.****(C)
                Item 7**
            **Management’s
                Discussion and Analysis of Financial Condition and Results of
                Operation.****(D)
                Item 7A**
            **Quantitative
                and Qualitative Disclosures About Market Risk.****(E)
                Item 8**
            **Financial
                Statements and Supplementary Data.****(F)
                Item 9**
            **Changes
                in and Disagreements with Accountants on Accounting and Financial
                Disclosure.****(G)
                Item 9A**
            **Controls
                and Procedures.**




**Item
      9A (T) Controls and Procedures.**




Not
      applicable.




**Item 9B.
      Other Information.**




None.




**PART
      III**




**THE
      FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL INSTRUCTION J(1)
      TO
      FORM 10-K:**




**(A)
                Item 10**
            **Directors,
                Executive Officers and Corporate Governance.****(B)
                Item 11**
            **Executive
                Compensation.****(C)
                Item 12**
            **Security
                Ownership of Certain Beneficial Owners and Management and
                Related****Stockholder
                Matters.****(D)
                Item 13**
            **Certain
                Relationships and Related Transactions, and Director
                Independence.****(E)
                Item 14**
            **Principal
                Accountant Fees and
                Services.**








**PART
      IV**




**Item
      15. Exhibits and Financial Statement Schedules.**




(a)
            (1)
                Not applicable.




(2)  Not
      applicable.




(3)  The
      exhibits filed in response to Item 601 of Regulation S-K are listed in the
      Exhibit Index.




(b)
            The
                exhibits filed in response to Item 601 of Regulation S-K are listed
                in the
                Exhibit Index.





(c)
            None.




**SUBSTITUTE
      INFORMATION PROVIDED IN ACCORDANCE WITH GENERAL INSTRUCTION J(2) TO FORM
      10-K:**




**Item
      1112(b) of Regulation AB. Significant Obligors of Pool Assets (Financial
      Information).**




Not
      Applicable.




**Item
      1114(b)(2) of Regulation AB. Credit Enhancement and Other Support, Except for
      Certain Derivatives Instruments (Information Regarding Significant Enhancement
      Providers - Financial Information).**




Not
      Applicable.




**Item
      1115(b) of Regulation AB. Certain Derivatives Instruments (Financial
      Information).**




Not
      Applicable.




**Item
      1117 of Regulation AB. Legal Proceedings.**




No
      legal
      proceedings are pending against any of USAA Federal Savings Bank (in its
      capacity as the sponsor, (the “Sponsor”), in its capacity as an originator
      contemplated by Item 1110(b) of Regulation AB, (the “Originator”), in its
      capacity as servicer, (the “Servicer”) and in its capacity as administrator (the
“Administrator”) of USAA Auto Owner Trust 2007-1 (the “Issuing Entity”), USAA
      Acceptance, LLC (the “Depositor”), **** The
      Bank
      of New York **** (the
      “Indenture Trustee”), Wells Fargo Delaware Trust Company (the “Owner Trustee”)
      or the Issuing Entity that are or would be material to holders of the
      asset-backed notes (the “Notes”) or the asset-backed certificate (the
“Certificate”). No such proceedings are known to be contemplated by governmental
      authorities.




**Item
      1119 of Regulation AB. Affiliations and Certain Relationships and Related
      Transactions.**




The
      Sponsor is the Originator, as contemplated by Item 1110 of Regulation AB, of
      all
      of the pool assets owned by the Issuing Entity. The Sponsor is also the
      Servicer. The Depositor is a wholly-owned subsidiary of the Sponsor and,
      therefore, a wholly-owned subsidiary of the Originator and the Servicer. The
      Issuing Entity was formed by the Depositor. USAA Federal Savings Bank is the
      Administrator of the Issuing Entity and the Depositor is the holder of the
      Issuing Entity’s Certificate, representing the residual interest in the Issuing
      Entity.




The
      Owner
      Trustee and the Indenture Trustee are banking corporations that the Sponsor
      and
      its affiliates may have other banking relationships with directly or with their
      affiliates in the ordinary course of their businesses. In some instances the
      Owner Trustee and the Indenture Trustee will be acting in similar capacities
      for
      other asset-backed transactions of the Sponsor for similar or other pool-asset
      types. The Owner Trustee and the Indenture Trustee charge fees for their
      services and such fees, to the extent they are not paid out of the cash flows
      of
      the Issuing Entity, will be payable by the Administrator or the
      Servicer.










Other
      than as specified in this Item above, none of USAA Federal Savings Bank, the
      Depositor or the Issuing Entity is an affiliate of any of the following parties,
      and none of the following parties are affiliates of any of the other following
      parties:




(1)
            Indenture
                Trustee.




(2)
            Owner
                Trustee.




There
      are
      no significant obligors contemplated by Item 1112 of Regulation AB, enhancement
      or support providers contemplated by Item 1114 or 1115 of Regulation AB, or
      other material parties related to the Notes contemplated by Item 1101(d)(1)
      of
      Regulation AB.




In
      addition, to the best of our knowledge, there are no business relationships,
      agreements, arrangements, transactions or understandings entered into outside
      the ordinary course of business or on terms other than would be obtained in
      an
      arm’s length transaction with an unrelated third party, apart from the
      asset-backed securities transaction involving the issuance of the Notes and
      the
      Certificate by the Issuing Entity, between USAA Federal Savings Bank (in its
      capacities as Sponsor, Originator, Servicer or Administrator) the Depositor,
      the
      Indenture Trustee, the Owner Trustee and the Issuing Entity, or any affiliates
      of such parties, that currently exists or that existed during the past two
      years
      and that is material to an investor’s understanding of the Notes.




**Item
      1122 of Regulation AB. Compliance with Applicable Servicing
      Criteria.**




The
      Servicer, the Indenture Trustee and FDI Computer Consulting, Inc. (collectively,
      the “Servicing Parties”) have each been identified by the Depositor as parties
      participating in the servicing function with respect to the asset pool held
      by
      the Issuing Entity. Each of the Servicing Parties has completed a report on
      an
      assessment of compliance with the servicing criteria set forth in paragraph
      (d)
      of Item 1122 of Regulation AB applicable to it (each, a “Servicing Assessment
      Report”), which Servicing Assessment Reports are attached as exhibits to this
      Form 10-K. In addition, each of the Servicer, the Indenture Trustee and FDI
      Computer Consulting, Inc. has provided an attestation report (each, an
“Attestation Report”) by an independent registered public accounting firm, which
      reports are also attached as exhibits to this Form 10-K. None of the Servicing
      Assessment Reports prepared by the Servicer, the Indenture Trustee or FDI
      Computer Consulting Inc., and none of the related Attestation Reports, has
      identified any material instance of noncompliance with the servicing criteria
      applicable to the respective Servicing Party except as specified in the
      paragraph below.




As
      set
      forth in Exhibit 33.2 and Exhibit 34.2 to this Form 10-K, The Bank of New
      York’s **** Servicing
      Assessment Report in its capacity as Indenture Trustee, and the related
      Attestation Report, reported a material instance of noncompliance with respect
      to Item 1122(d)(2)(i) of Regulation AB, at the platform level. As set forth
      in
      such Servicing Assessment Report and related Attestation Report, collections
      received on assets relating to certain series of securities were not deposited
      into a segregated account for each specified series but rather were deposited
      into a general account held by The Bank of New York as Indenture Trustee and
      remitted directly to investors. All collections were properly allocated by
      The
      Bank of New York to the related series of securities and timely remitted to
      the
      investors in such series. Procedures have been in place and are being reinforced
      so that collections are deposited into the segregated account for each specified
      series within the applicable time frames and then remitted to the investors
      in
      such series all in accordance with the related transaction
      documents.




**Item
      1123 of Regulation AB. Servicer Compliance Statement.**




The
      Servicer has completed a statement of compliance with its activities during
      the
      reporting period and of its performance under the applicable servicing criteria
      (a “Compliance Statement”), signed by an authorized officer of the Servicer. The
      Compliance Statement is attached as Exhibit 35.1 to this Form 10-K.










**SIGNATURES**





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




USAA
                AUTO OWNER TRUST 2007-1By:
                USAA Federal Savings Bank, as ServicerBy:
            /s/
                DAVID K. KIMBALLName:
            David
                K. KimballTitle:
            Vice
                President, Senior Financial Officer(Senior
                Officer in Charge of the Servicing
                Function)





Date:
      March 31, 2008




**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.**





Not
      Applicable.










**EXHIBIT
      INDEX**




**Exhibit
                3.1**
            Amended
                and Restated Limited Liability Company Agreement of the Depositor
                (incorporated by reference to the Depositor’s filing on Form 8-K filed
                with the Commission on October 4, 2005).**Exhibit
                4.1**
            Indenture,
                dated as of June 19, 2007, between the Issuing Entity and the Indenture
                Trustee (incorporated by reference from Exhibit 4.1 to the Issuing
                Entity’s filing on Form 8-K filed with the Commission on June 22,
                2007).**Exhibit
                4.2**
            Amended
                and Restated Trust Agreement, dated as of June 19, 2007, between
                the
                Depositor and the Owner Trustee (incorporated by reference from Exhibit
                10.4 to the Issuing Entity’s filing on Form 8-K filed with the Commission
                on June 22, 2007).**Exhibit
                10.1**
            Receivables
                Purchase Agreement, dated as of June 19, 2007, between USAA Federal
                Savings Bank, as seller, and the Depositor (incorporated by reference
                from
                Exhibit 10.1 to the Issuing Entity’s filing on Form 8-K filed with the
                Commission on June 22, 2007).**Exhibit
                10.2**
            Sale
                and Servicing Agreement, dated as of June 19, 2007, among the Issuing
                Entity, the Depositor and USAA Federal Savings Bank, as seller and
                servicer (incorporated by reference from Exhibit 10.2 to the Issuing
                Entity’s filing on Form 8-K filed with the Commission on June 22,
                2007).**Exhibit
                10.3**
            Administration
                Agreement, dated as of June 19, 2007, among the Issuing Entity, the
                Administrator and the Indenture Trustee (incorporated by reference
                from
                Exhibit 10.3 to the Issuing Entity’s filing on Form 8-K filed with the
                Commission on June 22, 2007).**Exhibit
                31**
            Certification
                of Senior Officer in Charge of the Servicing Function of the Servicer
                Pursuant to Rule 15d-14(d).**Exhibit
                33.1**
            Report
                on Assessment of Compliance with Applicable Servicing Criteria for
                Asset-Backed Securities of USAA Federal Savings Bank.**Exhibit
                33.2**
            Report
                on Assessment of Compliance with the Servicing Criteria for Asset-Backed
                Securities of The Bank of New York.**Exhibit
                33.3**
            Report
                on Assessment of Compliance with the Servicing Criteria for Asset-Backed
                Securities of FDI Computer Consulting, Inc.**Exhibit
                34.1**
            Attestation
                Report on Assessment of Compliance with the Servicing Criteria for
                Asset-Backed Securities of Ernst & Young LLP, on behalf of USAA
                Federal Savings Bank.**Exhibit
                34.2**
            Attestation
                Report on Assessment of Compliance with Servicing Criteria for
                Asset-Backed Securities of KPMG, LLP, on behalf of The Bank of New
                York.**Exhibit
                34.3**
            Attestation
                Report on Assessment of Compliance with the Servicing Criteria for
                Asset-Backed Securities of McGladrey & Pullen, LLP, on behalf of FDI
                Computer Consulting, Inc.**Exhibit
                35.1**
            Annual
                Servicer Compliance Statement of the Servicer for the year ended
                December
                31, 2007.