Document:

QuickLinks
 -- Click here to rapidly navigate through this document
  

 
 

February 15, 2002
  DART 2000-1 DISTRIBUTION SUMMARY    
  

 
  Collection Account    
  

	Wire/Deposit to:
 
	 	In consideration of:
 
	 	In the amount of:
	 
	1.	 	Premier Auto Finance, Inc.	 	Reimburse Previous Advances	 	55,278.68	 
	 	 	 	 	Excess Coverage	 	0.00	 
	

2.	
 	

Bank of New York	
 	

Indenture Trustee Fee	
 	

0.00	
 
	

3.	
 	

Chase	
 	

Owner Trustee Fee	
 	

7,833.29	
 
	

4.	
 	

Premier Auto Finance, Inc.	
 	

Servicing Fees	
 	

270,101.94	
 
	 	 	 	 	Late Fees	 	(1,851.90	)
	 	 	 	 	 	 	
	 
	 	 	 	 	Total Servicing Fees	 	268,250.04	 
	

5.	
 	

Note Distribution Account	
 	

Note Interest	
 	

1,841,654.74	
 
	

6.	
 	

Certificate Distribution Account	
 	

Certificate Interest	
 	

87,068.70	
 
	

7.	
 	

Note Distribution Account	
 	

Principal Payable	
 	

19,453,815.83	
 
	

8.	
 	

Certificate Distribution Account	
 	

Principal Payable	
 	

0.00	
 
	

9.	
 	

Reserve Fund	
 	

Funding	
 	

36,678.05	
 
	 	 	 	 	 	 	
	 
	
TOTAL AMOUNT WIRED/DEPOSITED:	
 	

21,750,579.33	
 
	 	 	 	 	 	 	
	 

 
 

Reserve Account    
  

	Wire/Deposit to:
 
	 	In consideration of:
 
	 	In the amount of:

	1.	 	Collection Account	 	Collection Shortfall	 	0.00
	

2.	
 	

Premier Auto Finance, Inc.	
 	

Excess Reserve Release	
 	

1,316,333.00
	 	 	 	 	 	 	

	
TOTAL AMOUNT WIRED/DEPOSITED:	
 	

1,316,333.00
	 	 	 	 	 	 	

	

/s/RANDALL S. ROYER    
 Randall S. Royer
 VP—Assistant Treasurer	
 	

 	
 	

 
	

/s/DAVID C. GREENBERG    
 David C. Greenberg
 CEO	

 	

February 13, 2002

5:57 PM

4

 
 
 

Dealer Auto Receivables Owner Trust 2000-1    
  

	190,000,000.00	 	6.69% Dealer Auto Receivables Asset-Backed Notes, Class A-1
	274,000,000.00	 	7.01% Dealer Auto Receivables Asset-Backed Notes, Class A-2
	168,000,000.00	 	7.07% Dealer Auto Receivables Asset-Backed Notes, Class A-3
	83,251,000.00	 	7.12% Dealer Auto Receivables Asset-Backed Notes, Class A-4
	24,470,000.00	 	7.46% Dealer Auto Receivables Asset-Backed Notes, Class B
	13,175,591.56	 	7.93% Dealer Auto Receivables Asset-Backed Certificates

 
 

Monthly Report
  For the February 15, 2002 Distribution Date    
  

	A	 	Calculation of Available Amounts	 	 	 	 
	 	 	1	 	Available Principal (as defined in Article I of the Sale and Servicing Agreement)	 	$	18,261,467.22	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Available Interest (as defined in Article I of the Sale and Servicing Agreement)	 	$	3,490,964.01	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Available Amounts (l. plus 2.)	 	$	21,752,431.23	 
	 	 	 	 	 	 	 	 	
	 
	
B	
 	

Calculation of Principal Distributable Amount

(as defined in Article I of the Sale and Servicing Agreement)	
 	
$	

19,453,815.83	
 
	 	 	 	 	 	 	 	 	
	 
	
C	
 	

Calculation of Note Monthly Principal Distributable Amount	
 	
$	

19,453,815.83	
 
	 	 	 	 	 	 	 	 	
	 
	 	 	1	 	Note Percentage for such Distribution Date	 	 	 	 
	 	 	 	 	(a)	 	for each Distribution Date to but excluding the Distribution Date on which the principal amount of the Class B Notes is reduced to zero	 	 	100.00	%
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(b)	 	after the principal amount of the Class B Notes have been reduced to zero	 	 	0.00	%
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Principal Distributable Amount (from B)	 	$	19,453,815.83	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Note Monthly Principal Distributable Amount for	 	 	 	 
	 	 	 	 	(a)	 	Class A-1 Notes	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(b)	 	Class A-2 Notes	 	$	19,453,815.83	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(c)	 	Class A-3 Notes	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(d)	 	Class A-4 Notes	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(e)	 	Class B Notes	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	(f)	 	Note Principal Carryover Shortfall	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	
D	
 	

Calculation of Note Monthly Interest Distributable Amount	
 	
 	

 	
 
	 	 	1	 	Class A-1 Interest Rate	 	 	6.69	%
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Class A-2 Interest Rate	 	 	7.01	%
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Class A-3 Interest Rate	 	 	7.07	%
	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	Class A-4 Interest Rate	 	 	7.12	%
	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Class B Interest Rate	 	 	7.46	%
	 	 	 	 	 	 	 	 	
	 
	 	 	6	 	Class A-1 Note Interest Distributable Amount	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	7	 	Class A-2 Note Interest Distributable Amount	 	$	205,776.98	 
	 	 	 	 	 	 	 	 	
	 
	 	 	8	 	Class A-3 Note Interest Distributable Amount	 	$	989,800.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	9	 	Class A-4 Note Interest Distributable Amount	 	$	493,955.93	 
	 	 	 	 	 	 	 	 	
	 
	 	 	10	 	Class B Note Interest Distributable Amount	 	$	152,121.83	 
	 	 	 	 	 	 	 	 	
	 
	 	 	11	 	Aggregate Interest Carryover Shortfall for each Class for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	12	 	Note Monthly Interest Distributable Amount (the sum of items D.6, D.7, D.8, D.9, D.10 and D.11)	 	$	1,841,654.74	 
	 	 	 	 	 	 	 	 	
	 

5

 

	
E	
 	

Calculation of Note Distributable Amount (sum of C.3 plus D.12.)	
 	
$	

21,295,470.57	
 
	 	 	 	 	 	 	 	 	
	 
	
F	
 	

Calculation of Certificate Principal Distributable Amount	
 	
 	

 	
 
	 	 	1	 	Certificate Balance	 	$	13,175,591.56	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Principal Distributable Amount	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Certificate Percentage for each respective Distribution Date	 	 	 	 
	

 	
 	

3	
 	

(a)	
 	

for each Distribution Date to but excluding the Distribution Date on which the Principal Amount of the Class B Notes is reduced to zero	
 	
 	

0.00	
%
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	(b)	 	on the Distribution Date on which the Principal Amount of the Class B Notes is reduced to zero	 	 	 	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	(c)	 	thereafter	 	 	100.00	%
	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	(a)	 	Principal Distributable Amount multiplied by the Certificate Percentage for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	(b)	 	Certificate Principal Carryover Shortfall for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Certificate Principal Distributable Amount (the sum of 4.(a) and 4.(b))	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	
G	
 	

Calculation of Certificate Interest Distributable Amount	
 	
 	

 	
 
	 	 	1	 	Certificate Pass-Through Rate	 	 	7.93	%
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	(a)	 	Certificate Monthly Interest Distributable Amount	 	$	87,068.70	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	(b)	 	Certificate Interest Carryover Shortfall for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Certificate Interest Distributable Amount (sum of 2.(a) and 2.(b))	 	$	87,068.70	 
	 	 	 	 	 	 	 	 	
	 
	
H	
 	

Calculation of Certificate Distributable Amount (sum of F.5 and G.3)	
 	
$	

87,068.70	
 
	 	 	 	 	 	 	 	 	
	 
	
I	
 	

Fees	
 	
 	

 	
 
	 	 	1	 	The Monthly Servicing Fee for such Distribution Date

(1/12 of the product of 1% and the Aggregate Principal Balance of the Contracts as of the beginning of the preceding Distribution Date)	 	$	270,101.94	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Late Payment Penalty Fees for such Distribution Date	 	$	(1,851.90	)
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Extension Fees for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	Indenture Trustee Fee for such Distribution Date	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Owner Trustee Fee for such Distribution Date	 	$	7,833.29	 
	 	 	 	 	 	 	 	 	
	 

6

 

	
J	
 	

Calculation of the Available Amounts for such Distribution Date	
 	
 	

 	
 
	 	 	1	 	The amount of funds deposited into the Collection Account pursuant to Section 5.05(b) of the Sale and Servicing Agreement with respect to the related Due Period	 	 	21,750,579.33	 
	 	 	 	 	 	 	 	 	
	 
	 	 	a	 	All amounts received by the Indenture Trustee or the Servicer with respect to principal and interest on the Contracts, as well as Late Payment Penalty Fees and Extensions Fees for related Due Period	 	$	20,828,608.75	 
	 	 	 	 	 	 	 	 	
	 
	 	 	b	 	All Net Liquidation Proceeds	 	$	909,358.43	 
	 	 	 	 	 	 	 	 	
	 
	 	 	c	 	The aggregate of the Repurchase Prices for Contracts required to be repurchased by the Depositor as described in Section 7.05 of the Sale and Servicing Agreement	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	d	 	All Advances made by Servicer pursuant to Section 7.02 of the Sale and Servicing Agreement	 	 	—	 
	 	 	 	 	 	 	 	 	
	 
	 	 	e	 	All amounts paid by the Seller in connection with an optional repurchase of the Contracts described in Section 7.07 of the Sale and Servicing Agreement	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	f	 	All amounts received in respect of interest, dividends, gains, income and earnings on investments of funds in the Trust Accounts as contemplated in Section 5.05(b) of the Sale and Servicing Agreement	 	 	12,612.15	 
	 	 	 	 	 	 	 	 	
	 
	 	 	g	 	Total amount of funds deposited into the Collection Account pursuant to Section 5.05(b) (the sum of a. through f.)	 	$	21,750,579.33	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	The amount of funds permitted to be withdrawn from the Collection Account pursuant to clauses (i) through (iii) of Section 7.03(a) of the Sale and Servicing Agreement with respect to related Due Period	 	$	331,362.01	 
	 	 	 	 	 	 	 	 	
	 
	 	 	a	 	Amounts to be paid to the Servicer as the Reimbursement Amount in accordance with Section 7.02 of the Sale and Servicing Agreement	 	 	55,278.68	 
	 	 	 	 	 	 	 	 	
	 
	 	 	b	 	Amounts to be paid to the Servicer in respect to the Servicing Fee for the related Due Period	 	$	268,250.04	 
	 	 	 	 	 	 	 	 	
	 
	 	 	c	 	Amounts to be paid to the Indenture Trustee in respect of the Indenture Trustee Fee for the related Due Period	 	$	0.00	 
	 	 	 	 	 	 	 	 	
	 
	 	 	d	 	Amounts to be paid to the Owner Trustee in respect of Owner Trustee Fee for related Due Period	 	$	7,833.29	 
	 	 	 	 	 	 	 	 	
	 
	 	 	e	 	Total amount of funds permitted to be withdrawn from the Collection Account pursuant to clauses (i) through (iii) Section 7.03(a) of the Sale and Servicing Agreement with respect to the related Due Period (sum of a. through
d.)	 	$	331,362.01	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	The Available Amounts (not including amounts from Reserve Fund Account) for such Distribution Date available to pay Note Distributable Amounts and Certificate Distributable Amounts (1(g) minus 2(e))	 	$	21,419,217.32	 
	 	 	 	 	 	 	 	 	
	 
	
K	
 	

The shortfall of Available Amounts for such Distribution Date to pay either the Note Distributable Amount or the Certificate Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	(the Available Amounts for such Distribution Date minus the sum of the Note Distributable Amount as set forth in E. and the Certificate Distributable Amount as set forth in H.)	 	 	 	 
	
L	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Note Interest Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 

7

 

	
M	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Certificate Interest Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
N	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Note Principal Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
O	
 	

The amount to be withdrawn from the Reserve Fund on such Distribution Date to cover the Certificate Principal Distributable Amount	
 	
$	

0.00	
 
	 	 	 	 	 	 	 	 	
	 
	
P	
 	

Interest Earnings on the Reserve Fund.	
 	
$	

15,156.93	
 
	 	 	 	 	 	 	 	 	
	 
	
Q	
 	

The amount on deposit in the Reserve Fund after giving effect to deposits and withdrawals therefrom on such Distribution Date	
 	
 	

19,803,452.96	
 
	 	 	 	 	 	 	 	 	
	 
	
R	
 	

The Specified Reserve Fund Amount for such Distribution Date will be an amount equal to the lesser of (i) the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B
Notes and the Certificate Balance as of such Distribution Date, and (ii) the greater of:	
 	
 	

 	
 
	 	 	(a)	 	4.25% of the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes and the Certificate Balance on such Distribution Date, except that
if a Reserve Fund Trigger Event shall have occurred and be continuing on such Distribution Date, then the percentage of the aggregate unpaid principal balance of the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and
the Class B Notes and the Certificate Balance referred to in this clause (a), shall be equal to 6.50%; and	 	 	 	 
	

 	
 	

(b)	
 	

1.00% of the Aggregate Principal Balance as of the Cutoff Date.	
 	
 	

19,803,452.96	
 
	 	 	 	 	 	 	 	 	
	 
	
S	
 	

The Pool Factor	
 	
 	

 	
 

	 	 	Factor immediately Before

such Distribution Date	 	Factor immediately After

such Distribution Date
	Class A-1 Note	 	1	 	0.0000000	 	7	 	0.0000000
	 	 	 	 	
	 	 	 	

	Class A-2 Note	 	2	 	0.1285611	 	8	 	0.0575617
	 	 	 	 	
	 	 	 	

	Class A-3 Note	 	3	 	1.0000000	 	9	 	1.0000000
	 	 	 	 	
	 	 	 	

	Class A-4 Note	 	4	 	1.0000000	 	10	 	1.0000000
	 	 	 	 	
	 	 	 	

	Class B Note	 	5	 	1.0000000	 	11	 	1.0000000
	 	 	 	 	
	 	 	 	

	Certificate	 	6	 	1.0000000	 	12	 	1.0000000
	 	 	 	 	
	 	 	 	

	
T	
 	

Delinquent Contracts	
 	

 	
 	
 	

 	
 
	 	 	1	 	31-60 Days	 	1,245	 	$	11,624,278.59	 
	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	61-90 Days	 	311	 	$	2,883,763.66	 
	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	91 or More Days	 	125	 	$	1,298,885.80	 
	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	 	 	Total Delinquent Receivables	 	1,681	 	$	15,806,928.05	 
	 	 	 	 	 	 	61+ Days Delinquencies as Percentage of Receivables	 	 	 	 	1.37	%
	 	 	 	 	 	 	Delinquency Ratio for Second Preceding Collection Period	 	 	 	 	1.20	%
	 	 	 	 	 	 	Delinquency Ratio for Preceding Collection Period	 	 	 	 	1.41	%
	 	 	 	 	 	 	Delinquency Ratio for Current Collection Period	 	 	 	 	1.37	%
	 	 	 	 	 	 	Average Delinquency Ratio        (Reserve Fund Trigger Event >= 2.0%)	 	 	 	 	1.33	%

8

 

	
U	
 	

Defaulted Contracts	
 	

 	
 	
 	

 	
 
	 	 	1	 	Total Defaulted Contracts for the Due Period	 	226	 	 	1,990,803.08	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Identity (attach)	 	 	 	 	 	 
	 	 	3	 	Liquidation proceeds for the Due Period	 	 	 	$	970,313.90	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	Liquidation expenses for the Due Period	 	 	 	 	60,955.47	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Net Liquidation Proceeds for the Due Period	 	 	 	$	909,358.43	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	6	 	Net Liquidation Losses for the Due Period	 	 	 	$	1,081,444.65	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	 	 	 	 	Pool Balance at Beginning of Collection Period	 	 	 	$	324,122,322.83	 
	 	 	 	 	 	 	Net Loss Ratio for Current Collection Period	 	 	 	 	4.00	%
	 	 	 	 	 	 	Net Loss Ratio for Second Preceding Collection Period	 	 	 	 	4.26	%
	 	 	 	 	 	 	Net Loss Ratio for Preceding Collection Period	 	 	 	 	3.26	%
	 	 	 	 	 	 	Net Loss Ratio for Current Collection Period	 	 	 	 	4.00	%
	 	 	 	 	 	 	Average Net Loss Ratio        (Reserve Fund Trigger Event >= 2.5%)	 	 	 	 	3.84	%
	
V	
 	

Advances	
 	

 	
 	
 	

 	
 
	 	 	1	 	Unreimbursed Advances prior to such Distribution Date	 	 	 	$	239,421.33	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Amount paid to Servicer on such Distribution Date to reimburse Servicer for such unreimbursed Advances	 	 	 	 	178,866.34	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Amount of Delinquent Interest for the related Due Period	 	 	 	 	123,587.66	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	Amount of new Advances on such Distribution Date (if such amount is less than the amount of Delinquent Interest, attach the certificate required by Section 7.02 of the Sale and Servicing Agreement)
	 	 	 	 	(55,278.68	)
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Total of unreimbursed Advances after new Advances on such Distribution Date	 	 	 	$	184,142.65	 
	 	 	 	 	 	 	 	 	 	 	
	 
	
W	
 	

Repurchased Contracts	
 	

 	
 	
 	

 	
 
	 	 	1	 	Number of Contracts to be repurchased pursuant to Section 7.07 of the Sale and Servicing Agreement	 	 	 	 	0	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Principal Amount of such Contracts	 	 	 	$	0.00	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	Related Repurchase Price of such Contracts	 	 	 	$	0.00	 
	 	 	 	 	 	 	 	 	 	 	
	 
	
X	
 	

Contracts	
 	

 	
 	
 	

 	
 
	 	 	1	 	Number of Contracts as of beginning of Due Period	 	 	 	 	37,553	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	2	 	Principal Balance of Contracts as of beginning of Due Period	 	 	 	$	324,122,322.83	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	3	 	The weighted average Contract Rate of the Contracts as of the beginning of the Due Period	 	 	 	 	11.66	%
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	4	 	The weighted average remaining term to maturity of the Contracts as of the beginning of the Due Period	 	 	 	 	33.55	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	5	 	Number of Contracts as of end of Due Period	 	 	 	 	36,057	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	6	 	Principal Balance of Contracts as of end of Due Period	 	 	 	$	304,668,507.00	 
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	7	 	The weighted average Contract Rate of the Contracts as of the end of the Due Period	 	 	 	 	11.66	%
	 	 	 	 	 	 	 	 	 	 	
	 
	 	 	8	 	The weighted average remaining term to maturity of the Contracts as of the end of the Due Period	 	 	 	 	32.71	 
	 	 	 	 	 	 	 	 	 	 	
	 

9

   Net Loss Addendum  

	For the Period Ending January 31, 2002

Servicing Report Dated February 15, 2002
 
	 	Reported

8K
	 	Actual*

Loss

	Net Loss Ratio for Current Month	 	4.00%	 	3.64%
	Net Loss Ratio for Previous Month	 	3.26%	 	3.33%
	Net Loss Ratio for 2nd Previous Month	 	4.26%	 	3.50%
	Net Loss Ratio Three Month Average	 	3.84%	 	3.49%

 Section "U" of Servicer Certificate  

        The
difference between the Reported 8K and Actual Loss column is driven by the difference in the definition of a Defaulted Contract between the DART 2000-1 Servicing
Agreement and the servicer's normal procedures as described in the Prospectus. Generally the servicer charges-off a contract: 

	1)
	when
the servicer deems the contract uncollectible;

	2)
	if
the financed vehicle is not repossessed, during the month when 5% or more of an installment due under the contract becomes more than 120 days past due;

	3)
	if
the financed vehicle is repossessed, when all sale proceeds, insurance claims and refunds of financed insurance policies and extended warranties have been received; or

	4)
	when
an obligor files for bankruptcy and the servicer determines that its loss is known. 

        The
definition of a Defaulted Contract in the DART 2000-1 Sale And Servicing Agreement states: 

        "Defaulted Contract" means a Contract with respect to which there has occurred one or more of the following: (i) all or part of a
scheduled payment under the Contract is 120 days or more than 120 days past due and the Servicer has not repossessed the related Financed Vehicle, (ii) the Servicer, has in
accordance with its customary servicing procedures, determined that eventual payment in full is unlikely and has either repossessed and liquidated the related Financed Vehicle or repossessed and held
the related Financed Vehicle in its repossessed inventory for 90 days, whichever occurs first; provided,  however, in no event shall the period of time
referred to in clauses (i) or (ii) extend for a combined period of longer than
120 days, or (iii) the relevant Obligor has suffered an Insolvency Event. 

        Two
differences between the two standards account for the change in the Net Loss Ratio reported in the revised Servicer Certificate from the Net Loss Ratio calculated in accordance with
the servicer's customary servicing procedures: 

	1)
	Under
the DART 2000-1 Servicing Agreement the servicer must recognize the entire amount of a bankrupt account as a loss when the obligor files for bankruptcy rather than
when the seller determines the actual amount of loss. Although prior experience does not necessarily predict future performance, in the servicer's experience, a majority of the accounts that file
bankruptcy are collected.

	2)
	Under
the DART 2000-1 Servicing Agreement repossessions in inventory are considered to be a loss if the contract is 120 days delinquent. Traditionally the Servicer
would not consider repossessions in
inventory to be a loss until the car has been sold and all liquidation proceeds have been recovered and the loss is known. 

        *Losses
as determined according to the Servicer's customary servicing procedures. 

10

QuickLinks

February 15, 2002 DART 2000-1 DISTRIBUTION SUMMARY

Collection Account

Reserve Account

Dealer Auto Receivables Owner Trust 2000-1

Monthly Report For the February 15, 2002 Distribution Date<PAGE>

                                                                     Exhibit 4.1

                                    INVESTORS
                            FINANCIAL SERVICES CORP.

              Incorporated under the laws of the State of Delaware

Number                                                                   Shares
IN

Common Stock                                                  Common Stock
PAR VALUE $.01                                                CUSIP 461915 10 0

                                        SEE REVERSE SIDE FOR CERTAIN DEFINITIONS

                               THIS CERTIFIES THAT

                                 is the owner of

              FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK,
                               $.01 PAR VALUE, OF
                       INVESTORS FINANCIAL SERVICES CORP.

transferable on the books of the Corporation by the holder hereof in person or
by duly authorized attorney upon surrender of this Certificate properly
endorsed. The Certificate and the shares represented hereby are issued under and
shall be subject to the laws of the State of Delaware and all the provisions of
the Certificate of Incorporation and the By-laws of the Corporation, and all the
amendments from time to time made thereto. This Certificate is not valid unless
countersigned and registered by the Transfer Agent and Registrar.

         Witness the facsimile seal of the Corporation and the facsimile
signatures of its duly authorized officers.

Dated:

/s/ KAREN C. KEENAN                  [SEAL]           /s/ KEVIN J. SHEEHAN
---------------------------                           -------------------------
Senior Vice President and                             Chairman of the Board,
Chief Financial Officer                               President and Chief
                                                      Executive Officer

            COUNTERSIGNED AND REGISTERED: FIRST CHICAGO TRUST COMPANY
                                   OF NEW YORK
                          TRANSFER AGENT AND REGISTRAR
                                       BY
                              AUTHORIZED SIGNATURE

<PAGE>

                                    INVESTORS
                            FINANCIAL SERVICES CORP.

The Company is authorized to issue more than one class or series of stock. A
copy of the preferences, powers, qualifications and special and relative rights
of each class and series will be furnished by the Company upon written request
and without charge.

THIS CERTIFICATE ALSO EVIDENCES AND ENTITLES THE HOLDER HEREOF TO CERTAIN RIGHTS
AS SET FORTH IN THE RIGHTS AGREEMENT BETWEEN INVESTORS FINANCIAL SERVICES CORP.
(THE "COMPANY") AND FIRST CHICAGO TRUST COMPANY OF NEW YORK (THE "RIGHTS AGENT")
DATED AS OF SEPTEMBER 25, 1995 (THE "RIGHTS AGREEMENT"), THE TERMS OF WHICH ARE
INCORPORATED HEREIN BY REFERENCE AND A COPY OF WHICH IS ON FILE AT THE PRINCIPAL
OFFICES OF THE COMPANY. UNDER CERTAIN CIRCUMSTANCES, AS SET FORTH IN THE RIGHTS
AGREEMENT, SUCH RIGHTS WILL BE EVIDENCED BY SEPARATE CERTIFICATES AND WILL NO
LONGER BE EVIDENCED BY THIS CERTIFICATE. THE COMPANY WILL MAIL TO THE HOLDER OF
THIS CERTIFICATE A COPY OF THE RIGHTS AGREEMENT, AS IN EFECT ON THE DATE OF
MAILING, WITHOUT CHARGE PROMPTLY AFTER RECEIPT OF A WRITTEN REQUEST THEREFOR.
UNDER CERTAIN CIRCUMSTANCES SET FORTH IN THE RIGHTS AGREEMENT, RIGHTS ISSUED TO,
OR HELD BY, ANY PERSON WHO IS, WAS OR BECOMES AN ACQUIRING PERSON, AN ADVERSE
PERSON OR ANY AFFILIATE OR ASSOCIATE OF AN ACQUIRING PERSON OR AN ADVERSE PERSON
(AS SUCH TERMS ARE DEFINED IN THE RIGHTS AGREEMENT), WHETHER CURRENTLY HELD BY
OR ON BEHALF OF SUCH PERSON OR BY ANY SUBSEQUENT HOLDER, MAY BECOME NULL AND
VOID. THE RIGHTS SHALL NOT BE EXERCISABLE, AND SHALL BE VOID SO LONG AS HELD, BY
A HOLDER IN ANY JURISDICTION WHERE THE REQUISITE QUALIFICATION TO THE ISSUANCE
TO SUCH HOLDER, OR THE EXERCISE BY SUCH HOLDER, OF THE RIGHTS IN SUCH
JURISDICTION SHALL NOT HAVE BEEN OBTAINED OR OBTAINABLE.

The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenants in common
TEN ENT - as tenants by the entireties
JT TEN  - as joint tenants with right of survivorship and not as tenants
          in common

UNIF GIFT MIN ACT - ___________ Custodian ___________
                       (Cust)               (Minor)

Under the Uniform Gifts
to Minors Act _________________
                  (State)

<PAGE>

Additional abbreviations may also be used though not in above list.

FOR VALUE RECEIVED, _____________________________ hereby sell, assign and
transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE

          ___________________________________________________________

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF
ASSIGNEE)

          ___________________________________________________________

          ___________________________________________________________

shares of the Stock represented by the within Certificate, and do hereby
irrevocably constitute and appoint_____________________________________________
Attorney to transfer the said Stock on the books of the within-named
Corporation with full power of substitution in the premises.

         Dated:
                                       ----------------------------------------
                                                      Signature

                                       ----------------------------------------
                                       The signatures to this assignment must
                                       correspond with the name as written upon
                                       the face of the certificate in every
                                       particular without alteration or
                                       enlargement or any change whatever.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}]]