Document:

CONFIRMATION FOR U.S. DOLLAR INTEREST RATE SWAP TRANSACTION
                         UNDER 1992 MASTER AGREEMENT

TO:         CNH Equipment Trust 2002-A ("Party B")
            c/o The Bank of New York, as Trustee
            5 Penn Plaza, 16th Floor
            New York, New York 10001
            Attn:    Keith Richardson
                     tel.: 312-336-9730

FROM:       Bank of America, N.A. ("Party A")
            100 N. Tryon Street, NC 1-007-13-01
            Charlotte, North Carolina 28255
            Attn: Capital Markets Documentation

DATE:       March 28, 2002

Our Reference Nos: 342680 / 342681

The purpose of this letter agreement is to confirm the terms and conditions of
the Swap Transaction entered into between us on the Trade Date specified below
(the "Swap Transaction"). This letter agreement constitutes a "Confirmation"
as referred to in the Master Agreement specified below.

1.  The definitions and provisions contained in the 2000 ISDA Definitions (as
published by the International Swaps and Derivatives Association, Inc., the
"Definitions") are incorporated into this Confirmation. In the event of any
inconsistency between the Definitions and this Confirmation, this Confirmation
will govern. Each party represents and warrants to the other that (a) it is
duly authorized to enter into this Swap Transaction and to perform its
obligations hereunder, (b) the Swap Transaction and the performance of its
obligations hereunder do not violate any material obligation of such party,
and (c) the person executing this Confirmation is duly authorized to execute
and deliver it.

This Confirmation supplements, forms part of, and is subject to, the ISDA
Master Agreement between us dated as of March 28, 2002 (the "Agreement"). This
Confirmation shall supplement, form part of, and be subject to that Agreement,
and all provisions contained or incorporated by reference in the Agreement
shall govern this Confirmation except as expressly modified below.

2. The terms of the particular Swap Transaction to which this Confirmation
relates are as follows:

<PAGE>

Trade Date:             March 20, 2002

Effective Date:         March 28, 2002

Termination             The earliest of (i) August 15,
Date:                   2008 or (ii) when the Notional Amount
                        hereunder has been reduced to zero,
                        subject to early termination in
                        accordance with the terms of the
                        Agreement.

Calculation Periods:    For each Payment Date, the period from and including
                        the immediately preceding Payment Date to, but
                        excluding, such Payment Date (without regard to any
                        Business Day adjustment in respect of Payment Dates,
                        in the case of Fixed Rate Calculation Periods), during
                        the Term of this Swap Transaction, except that (a) the
                        initial Calculation Period will commence on, and
                        include, the Effective Date, and (b) the final
                        Calculation Period will end on, but exclude, the
                        Termination Date (without regard to any Business Day
                        adjustment in the case of the final Fixed Rate
                        Calculation Period).

                        Floating Rate Calculation Periods correspond to
                        "Interest Periods" under the Indenture dated as of
                        March 1, 2002, between Party B, as issuer and Bank
                        One, National Association, as indenture trustee (the
                        "Indenture").

Notional Amounts:       For each Calculation Period, the Outstanding Amount
                        of the Class B Notes as of the close of business on
                        the first day of each Floating Rate Calculation
                        Period. "Outstanding Amount" and "Class B Notes" each
                        has the meaning specified in Appendix A to the
                        Indenture.

                                      2
<PAGE>

Payment Dates:          The 15th day of each month, subject to the Following
                        Business Day Convention, corresponding to
                        "Payment Dates" under the Indenture.

Fixed Amounts:

      Fixed Rate        Party B
      Payer:

      Fixed Rate       The 15th day of each month, commencing April 15,
      Payer Payment    2002, subject to the Following Business Day
      Dates:           Convention.

Fixed Rate:             4.323%

Fixed Rate              30/360
Day Count
Fraction:

Fixed Rate Payer        For each Payment Date, in respect of a Calculation
Payment Amounts:        Period, the product of (a) the Fixed Rate, (b) the
                        Fixed Rate Day Count Fraction and (c) the Notional
                        Amount for such Calculation Period.

Floating Amounts:

Floating Rate Payer:    Party A

Floating Rate Payer    The 15th day of each month, commencing April 15, 2002,
Payment Dates:         subject to the Following Business Day Convention.

Floating Rate:          USD-LIBOR-BBA (set two London Banking
                        Days prior to the first day of each Calculation
                        Period).

Designated Maturity:    One month.

Initial Floating Rate:  USD-LIBOR-BBA (set two London Banking
                        Days prior to the Effective Date).

Spread:                 None

Floating Rate           Actual/360
Day Count
Fraction:

Floating Rate           For each Payment Date in respect of a Calculation
Payer Payment           Period, the product of (a) the Floating Rate, (b) the
Amounts:                Floating Rate Day Floating Rate, (b) the Floating
                        Rate Day Count Fraction, and (c) the Notional Amount.

                                      3
<PAGE>

   Reset Dates:         Other than in connection with the Initial Floating
                        Rate, on each Payment Date beginning with the April
                        Payment Date, the Floating Rate (as determined two
                        London Banking Days prior to each such Payment Date)
                        will reset for the Floating Rate Calculation Period
                        commencing on each such Payment Date.

Compounding:            Inapplicable

Business Days:          New York

Business Day
Convention:             Following (in respect of Payment Dates and
                        Floating Rate Calculation Period End Dates only).

Calculation Agent:      Party A

     3. Market Quotation.

     Notwithstanding the definition of "Market Quotation" in the Agreement,
for purposes of determining Market Quotations in respect of this Transaction,
Market Quotation shall mean a quotation from a Dealer (as defined herein),
acceptable to both parties, of the amount, if any, that such Dealer would
demand to receive or would offer to pay in consideration of such Dealer
entering into an agreement with the Requesting Party (as defined herein), with
such documentation as the Dealer and the Requesting Party may in good faith
agree, which would have the effect of preserving for the Requesting Party the
economic equivalent of the parties' rights and obligations under the
Agreement; provided that, any such quotation shall not constitute a Market
Quotation hereunder unless the Dealer shall have submitted, in connection with
such quotation, a Dealer Certification (as defined herein).

     If at least one Market Quotation from a Dealer other than Party A is
provided, the Requesting Party shall then have the option to either: (i)
accept the arithmetic mean of the Market Quotations; or (ii) require the party
to the Agreement that is not the Requesting Party (the "Non-Requesting Party")
to assign, at the cost of the Non-Requesting Party, its rights and obligations
under the Agreement to one of the Dealers providing Market Quotations;

                                      4
<PAGE>

provided that (a) such assignment must be pursuant to documentation that is
reasonably acceptable to the Requesting Party, and (b) the Requesting Party
must receive such opinions and assurances as it reasonably requests in
connection with such assignment.

     In the event that no other Market Quotations are obtained, Party A may be
the sole source of Market Quotations, so long as its calculations are made on
the basis of a hypothetical transaction of like terms but with a notional
amortization as set forth on Schedule A hereto and an option to reduce the
notional to a substantially faster notional amortization.

     For purposes of this Section:

     "Dealer" means a leading dealer in the relevant markets (and may include
Party A).

     "Dealer Certification" means a certificate, executed by a Dealer,
representing that: (i) the Dealer is qualified and authorized to enter into an
assignment of the Agreement; (ii) the Dealer has reviewed the terms of the
Agreement in full and has provided a bid on the basis of such terms; and (iii)
upon the request of the Requesting Party, the Dealer will accept an assignment
of the Non-Requesting Party's rights and obligations under the Agreement in
exchange for or by payment of the amount of its bid.

     "Requesting Party" means: (i) Party B in the case of an Event of Default
where Party A is the Defaulting Party or a Termination Event where Party A is
the Affected Party; and (ii) Party A in the case of an Event of Default where
Party B is the Defaulting Party or a Termination Event where Party B is the
Affected Party.

     4.   Account Details.

Payments to Party A:

            Name:  Bank of America, N.A.
            ABA#:  026009593
            G/L:  6550219386
            Attn.:  Rate Derivative Settlements

Payments to Party B:

            Name:  Bank One, NA
            City:  Chicago
            ABA#:  071000013
            Account:  #10-43256
            Further Credit To:  CNH Equipment Trust 2002-A
            Further Credit To:  Account #2600039800

                                      5
<PAGE>

Please confirm that the foregoing correctly sets forth the terms and
conditions of our agreement by responding within three (3) Business Days by
either returning this Confirmation in person or via telecopier to the
attention of Brian Zwerner, Fax No. (312) 453-2787; Telephone No. (312)
234-2787. Failure to respond within such period shall not affect the validity
or enforceability of this Swap Transaction, and shall be deemed to be an
affirmation of the terms and conditions contained herein, absent manifest
error.

Yours sincerely,

BANK OF AMERICA, N.A.

By:  /s/ Mindi Schumaw
     ----------------------------------------
     Name:  Mindi Schuman
     Title:  Vice President

Confirmed as of the date above:
-------------------------------

CNH EQUIPMENT TRUST 2002-A

By   The Bank of New York,
     not in its individual capacity but solely as Trustee

By:  /s/ Erwin Soriano
     ----------------------------------------
     Name:  Erwin Soriano
     Title: Assistant Treasurer

                                      6The Bank of New York                                            28 March 2002
as Trustee for
CNH Equipment Trust 2002-A
5 Penn Plaza
New York, NY 10001

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

Dear Sirs:

The purpose of this letter agreement (this "Confirmation") is to confirm the
terms and conditions of the Transaction entered into between us on the Trade
Date specified below (the "Transaction"). This Confirmation constitutes a
"Confirmation" as referred to in the Agreement specified below.

1.   This Confirmation incorporates the definitions and provisions
     contained in (i) the 2000 ISDA Definitions, (as published by the
     International Swaps and Derivatives Association, Inc.) (the
     "Definitions") and (ii) the the Indenture, dated as of 1 March
     2002, between CNH Equipment Trust 2002-A (the "Trust") and Bank One,
     National Association, as Indenture Trustee (the "Indenture"). In the event
     of any inconsistency between the definitions in the Indenture, the
     Definitions, and this Confirmation, the definitions in the Indenture will
     govern; in the event of any inconsistency between the Definitions and
     this Confirmation, this Confirmation will govern. References herein to a
     "Transaction" shall be eemed to be references to a "Swap Transaction" for
     the purposes of the 2000 ISDA Definitions.

     This Confirmation supplements, forms part of, and is subject to, the
     1992 ISDA Master Agreement dated as of 28 March 2002 as amended and
     supplemented from time to time (the "Agreement"), between you and us.
     All provisions contained in the Agreement govern this Confirmation
     except as expressly modified below.

     In this Confirmation "Party A" means Credit Suisse First Boston
     International and "Party B" means the Trust.

2.   The terms of the particular Transaction to which this Confirmation
     relates are as follows:

     Notional Amount:   For each Calculation Period, the Outstanding Amount
                        of the Class C Notes as of the close of business on
                        the first day of each Floating Rate Calculation
                        Period.

     Trade Date:        20 March 2002

     Effective Date:    28 March 2002

     Termination Date:  The earlier of (i) 15 March 2010 and (ii) the date on
                        which the outstanding principal balance of the Class C
                        Notes is reduced to zero.

Fixed Amounts:

     Fixed Rate Payer:  Party B

     Fixed Rate Payer
     Payment Dates:     Monthly, on the 15th, commencing on 15 April 2002 and
                        ending on the Termination Date, subject to adjustment
                        in accordance with the Following Business Day
                        Convention using No Adjustment of Period End Dates,
                        corresponding to "Payment Dates" under the Indenture.

     Fixed Rate:        4.4675%

     Fixed Rate
     Day Count
     Fraction:          30/360

<PAGE>

Floating Amounts:

     Floating Rate
     Payer:             Party A

     Floating Rate
     Payer Payment
     Dates:             Monthly, on the 15th, commencing on 15 April 2002 and
                        ending on the Termination Date, subject to adjustment
                        in accordance with the Following Business Day
                        Convention, corresponding to "Payment Dates"
                        under the Indenture.

     Floating Rate
     for initial
     Calculation
     Period:            To be determined

     Floating Rate
     Option:            USD-LIBOR-BBA

     Designated
     Maturity:          One month

     Spread:            None

     Floating
     Rate
     Day Count
     Fraction:          Actual/360

     Reset Dates:       The first day of each Calculation Period and
                        28 March 2002 for the Initial Calculation Period.

     Compounding:       Inapplicable

Business Days:          New York and Chicago

Calculation Agent:      Party A

3.   Account Details:

         Payments to
         Party A:       Bank of New York
                        SWIFT IRVTUS3N
                        for favour Credit Suisse First Boston International,
                        London
                        A/c No. 8900360968

         Payments to
         Party B:       Bank One, N.A.
                        ABA # 071000013
                        Account # 10-43256
                        Further Credit To: CNH Equipment Trust 2002-A
                        Further Credit To Account # 2600039800

Credit Suisse First Boston International is regulated by The Financial
Services Authority and has entered into this transaction as principal. The
time at which the above transaction was executed will be notified to Party B
on request.

                                      -2-

<PAGE>

Please confirm that the foregoing correctly sets forth the terms of our
agreement by signing and returning this Confirmation.

                            Yours faithfully,

                            CREDIT SUISSE FIRST BOSTON INTERNATIONAL
                            By its Agent: CREDIT SUISSE FIRST BOSTON CORPORATION

                            By:  /s/ Linda Lindblom
                                ---------------------------------
                                Name:  Linda Lindblom
                                Title: Vice President

Confirmed as of the date first written above:

CNH Equipment Trust 2002-A
By: THE BANK OF NEW YORK
Not in its individual capacity but solely AS TRUSTEE

By:  /s/ Erwin Soriano
     ----------------------------------------
     Name:  Erwin Soriano
     Title: Assistant Treasurer

                                     -3-

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