Document:

<PAGE>

                                                                  EXECUTION COPY

================================================================================

                              PURCHASE AGREEMENT

                                    between

                                 AMSOUTH BANK

                                      as

                                    Seller

                                      and

                         AMSOUTH AUTO RECEIVABLES LLC

                                      as

                                   Purchaser

                          Dated as of October 1, 2000

================================================================================
<PAGE>

<TABLE>
<CAPTION>
TABLE OF CONTENTS

<S>                                                                                        <C>
ARTICLE I    DEFINITIONS................................................................... 3
     SECTION 1.1.  Definitions............................................................. 3
     SECTION 1.2.  Other Interpretive Provisions........................................... 3

ARTICLE II   PURCHASE AND SALE OF RECEIVABLES.............................................. 4
     SECTION 2.1.  Purchase and Sale of Receivables........................................ 4
     SECTION 2.2.  Receivables Purchase Price.............................................. 5

ARTICLE III  REPRESENTATIONS AND WARRANTIES................................................ 5
     SECTION 3.1.  Representations and Warranties of Purchaser............................. 5
     SECTION 3.2.  Representations and Warranties of AmSouth Bank.......................... 7
     SECTION 3.3.  Representations and Warranties as to Each Receivable.................... 8
     SECTION 3.4.  Repurchase upon Breach................................................. 12

ARTICLE IV   COVENANTS OF AMSOUTH BANK.................................................... 13
     SECTION 4.1.  Protection of Title to AmSouth Bank Assets............................. 13
     SECTION 4.2.  Liability of AmSouth Bank; Indemnities................................. 15

ARTICLE V    MISCELLANEOUS PROVISIONS..................................................... 16
     SECTION 5.1.  Obligations of AmSouth Bank............................................ 16
     SECTION 5.2.  AmSouth Bank's Assignment of Purchased Receivables..................... 16
     SECTION 5.3.  Subsequent Transfer to Issuer and Indenture Trustee.................... 16
     SECTION 5.4.  Amendment.............................................................. 17
     SECTION 5.5.  Waivers................................................................ 18
     SECTION 5.6.  Notices................................................................ 18
     SECTION 5.7.  Costs and Expenses..................................................... 19
     SECTION 5.8.  Representations to Survive............................................. 19
     SECTION 5.9.  Governing Law.......................................................... 19
     SECTION 5.10. Counterparts........................................................... 19
     SECTION 5.11. Third Party Beneficiaries.............................................. 19

Exhibit A   Location of AmSouth Bank and Purchaser
</TABLE>
<PAGE>

                               PURCHASE AGREEMENT

     This PURCHASE AGREEMENT (as from time to time amended, supplemented or
otherwise modified and in effect, this "Agreement") is made as of this 1st day
of October, 2000 by and between AMSOUTH BANK, a state banking corporation
organized under the laws of the State of Alabama ("AmSouth Bank"), and AMSOUTH
AUTO RECEIVABLES LLC, a Delaware limited liability company (the "Purchaser").

     WHEREAS, in the regular course of its business, AmSouth Bank purchases
Motor Vehicle Loans secured by new and used automobiles and light trucks from
motor vehicle dealers;

     WHEREAS, Purchaser desires to purchase from AmSouth Bank a portfolio of
Motor Vehicle Loans arising in connection with Motor Vehicle Loans purchased by
AmSouth Bank from Dealers; and

     WHEREAS, AmSouth Bank is willing to sell such Motor Vehicle Loans to
Purchaser.

     NOW, THEREFORE, in consideration of the premises and the mutual covenants
herein contained, the parties hereto agree as follows:

                                   ARTICLE I

                                  DEFINITIONS

      SECTION 1.1. Definitions.  Capitalized terms are used in this Agreement as
defined in Appendix X to the Sale and Servicing Agreement among AmSouth Auto
Trust 2000-1, as issuer, the Purchaser, as seller, and AmSouth Bank, as
servicer.

      SECTION 1.2. Other Interpretive Provisions.  For purposes of this
Agreement, unless the context otherwise requires: (a) accounting terms not
otherwise defined in this Agreement, and accounting terms partly defined in this
Agreement to the extent not defined, shall have the respective meanings given to
them under generally accepted accounting principles; (b) terms defined in
Article 9 of the UCC and not otherwise defined in this Agreement are used as
defined in that Article; (c) the words "hereof," "herein" and "hereunder" and
words of similar import refer to this Agreement as a whole and not to any
particular provision of this Agreement; (d) references to any Article, Section,
Schedule or Exhibit are references to Articles, Sections, Schedules and Exhibits
in or to this Agreement and references to any paragraph, subsection, clause or
other subdivision within any Section or definition refer to such paragraph,
subsection, clause or other subdivision of such Section or definition; (e) the
term "including" means "including without limitation"; (f) except as otherwise
expressly provided herein, references to any law or regulation refer to that law
or regulation as amended from time to time and include

                                                       2000-1 PURCHASE AGREEMENT
<PAGE>

any successor law or regulation; (g) references to any Person include that
Person's successors and assigns; and (h) headings are for purposes of reference
only and shall not otherwise affect the meaning or interpretation of any
provision hereof.

                                   ARTICLE II

                        PURCHASE AND SALE OF RECEIVABLES

     SECTION 2.1. Purchase and Sale of Receivables.

     Effective as of the Closing Date and immediately prior to the transactions
pursuant to the Indenture, the Sale and Servicing Agreement and the Trust
Agreement, AmSouth Bank does hereby sell, transfer, assign, set over and
otherwise convey to Purchaser, without recourse (subject to the obligations
herein) (the "AmSouth Bank Assets"):

            (i) all right, title and interest of AmSouth Bank in and to the
     Receivables, and all moneys received thereon after the Cutoff Date;

            (ii) all right, title and interest of AmSouth Bank in the security
     interests in the Financed Vehicles granted by Obligors pursuant to the
     Receivables and any other interest of AmSouth Bank in the Financed Vehicles
     and any other property that shall secure the Receivables;

            (iii) the interest of AmSouth Bank in any proceeds with respect to
     the Receivables from claims on any Insurance Policies covering Financed
     Vehicles or the Obligors or from claims under any lender's single interest
     insurance policy naming AmSouth Bank as an insured;

            (iv) rebates of premiums relating to Insurance Policies and rebates
     of other items such as extended warranties financed under the Receivables,
     in each case, to the extent the Servicer would, in accordance with its
     customary practices, apply such amounts to the Principal Balance of the
     related Receivable;

            (v) the interest of AmSouth Bank in any proceeds from (A) any
     Receivable repurchased by a Dealer, pursuant to a Dealer Agreement, as a
     result of a breach of representation or warranty in the related Dealer
     Agreement, (B) a default by an Obligor resulting in the repossession of the
     Financed Vehicle under the applicable Motor Vehicle Loan or (C) any Dealer
     Recourse or other rights relating to the Receivables under Dealer
     Agreements;

            (vi) all right, title and interest of AmSouth Bank in any instrument
     or document relating to the Receivables; and

                                                       2000-1 PURCHASE AGREEMENT

                                       3
<PAGE>

            (vi) the proceeds of any and all of the foregoing.

     The sale, transfer, assignment, setting over and conveyance made hereunder
shall not constitute and is not intended to result in an assumption by Purchaser
of any obligation of AmSouth Bank to the Obligors, the Dealers or any other
Person in connection with the Receivables and the other assets and properties
conveyed hereunder or any agreement, document or instrument related thereto.

     It is the express intention of AmSouth Bank and Purchaser that (i) the
assignment and transfer herein contemplated constitute a sale of the Receivables
and the other AmSouth Bank Assets described above, conveying good title thereto
free an clear of any liens, encumbrances, security interests or rights of other
Persons, from AmSouth Bank to Purchaser and (ii) the Receivables and the other
AmSouth Bank Assets described above not be a part of AmSouth Bank's estate in
the event of a bankruptcy or insolvency of AmSouth Bank.  If, notwithstanding
the intention of AmSouth Bank and Purchaser, such conveyance is deemed to be a
pledge in connection with a financing or is otherwise deemed not to be a sale,
AmSouth Bank hereby grants, and the parties intend that AmSouth Bank shall have
granted, to Purchaser a first priority perfected security interest in all of
AmSouth Bank's right, title and interest in the items of the AmSouth Bank Assets
and all proceeds of the foregoing, and that this Agreement shall constitute a
security agreement under applicable law and Purchaser shall have all of the
rights and remedies of a secured party and creditor under the UCC as in force in
the relevant jurisdictions.

      SECTION 2.2  Receivables Purchase Price.  In consideration for the AmSouth
Bank Assets, Purchaser shall, on the Closing Date, pay to AmSouth Bank the
Receivables Purchase Price.  The "Receivables Purchase Price" shall be
$951,262,805.84 Purchaser shall pay AmSouth Bank $943,287,521.71 in cash on the
Closing Date, with the remaining portion of the Receivables Purchase Price to be
deemed paid and returned to Purchaser and considered a contribution to capital.

                                  ARTICLE III

                        REPRESENTATIONS AND WARRANTIES

     SECTION 3.1  Representations and Warranties of Purchaser.  Purchaser
hereby makes the following representations and warranties upon which AmSouth
Bank may rely.  Such representations are made as of the execution and delivery
of this Agreement, but shall survive the sale, transfer and assignment of the
Receivables to Purchaser.

            (a) Organization and Good Standing.  Purchaser has been duly
     organized and is validly existing as a limited liability company in good
     standing under the laws of the State of Delaware, and has full power and
     authority to execute and deliver this Agreement and to perform the terms
     and provisions hereof and thereof.

                                                       2000-1 PURCHASE AGREEMENT

                                       4
<PAGE>

            (b) Power and Authority.  Purchaser has full power, authority and
     legal right to execute, deliver, and perform this Agreement and has taken
     all necessary action to authorize the execution, delivery, and performance
     by it of this Agreement.

            (c) No Consent Required.  No approval, authorization, consent,
     license or other order or action of, or filing or registration with, any
     governmental authority, bureau or agency is required in connection with the
     execution, delivery or performance by Purchaser of this Agreement or the
     consummation of the transactions contemplated hereby.

            (d) Binding Obligation.  This Agreement has been duly executed and
     delivered by Purchaser and this Agreement constitutes a legal, valid and
     binding obligation of Purchaser, enforceable against Purchaser in
     accordance with its terms, subject, as to enforceability, to applicable
     bankruptcy, insolvency, reorganization, conservatorship, receivership,
     liquidation and other similar laws affecting the enforcement of the rights
     of creditors generally and to equitable limitations on the availability of
     specific remedies.

            (e) No Violation.  The execution, delivery and performance by
     Purchaser of this Agreement and the consummation of the transactions
     contemplated hereby will not conflict with, result in any breach of the
     terms and provisions of, constitute (with or without notice or lapse of
     time) a material default under, or result in the creation or imposition of
     any Lien under any of its material properties pursuant to the terms of, (i)
     the limited liability company agreement of Purchaser, (ii) any material
     indenture, contract, lease, mortgage, deed of trust or other instrument or
     agreement to which Purchaser is a party or by which Purchaser is bound or
     to which any of its properties are subject, or (iii) any law, order, rule
     or regulation applicable to Purchaser of any federal or state regulatory
     body, any court, administrative agency or other governmental
     instrumentality having jurisdiction over Purchaser.

            (f) No Proceedings.  There are no proceedings or investigations
     pending, or, to the knowledge of Purchaser, threatened, before any court,
     regulatory body, administrative agency, or other tribunal or governmental
     instrumentality having jurisdiction over Purchaser or its properties: (i)
     asserting the invalidity of this Agreement or the transactions contemplated
     herein, (ii) seeking to prevent the consummation of any of the transactions
     by this Agreement, (iii) seeking any determination or ruling that might
     materially and adversely affect the performance by Purchaser of its
     obligations under, or the validity or enforceability of, this Agreement or
     the transactions contemplated herein, or (iv) that may materially and
     adversely affect this Agreement or the transactions contemplated hereby.

                                                       2000-1 PURCHASE AGREEMENT

                                       5
<PAGE>

     SECTION 3.2  Representations and Warranties of AmSouth Bank.

     AmSouth Bank hereby makes the following representations and warranties upon
which Purchaser may rely.  Such representations are made as of the execution and
delivery of this Agreement, but shall survive the sale, transfer and assignment
of the Receivables to Purchaser.

            (a) Organization and Good Standing.  AmSouth Bank has been duly
     organized and is validly existing as a state banking corporation in good
     standing under the laws of the State of Alabama, with the power and
     authority to own its properties and to conduct its business as such
     properties are presently owned and such business is presently conducted and
     had at all relevant times, and has, power, authority and legal right to
     acquire, own and sell the AmSouth Bank Assets pursuant to Article II.

            (b) Power and Authority.  AmSouth Bank has the power, authority and
     legal right to execute and deliver this Agreement and to carry out its
     terms and to sell and assign the AmSouth Bank Assets; and the execution,
     delivery and performance of this Agreement has been duly authorized by
     AmSouth Bank by all necessary corporate action.

            (c) No Consent Required.  No approval, authorization, consent,
     license or other order or action of, or filing or registration with, any
     governmental authority, bureau or agency is required in connection with the
     execution, delivery or performance of this Agreement or the consummation of
     the transactions contemplated hereby or thereby, other than the filing of
     UCC financing statements.

            (d) Valid Sale; Binding Obligation.  AmSouth Bank intends this
     Agreement to effect a valid sale, transfer, and assignment of the
     Receivables and the other properties and rights included in the AmSouth
     Bank Assets conveyed by AmSouth Bank to Purchaser hereunder, enforceable
     against creditors of and purchasers from AmSouth Bank; and this Agreement
     constitutes a legal, valid and binding obligation of AmSouth Bank,
     enforceable against AmSouth Bank in accordance with its terms, subject, as
     to enforceability, to applicable bankruptcy, insolvency, reorganization,
     conservatorship, receivership, liquidation and other similar laws affecting
     enforcement of the rights of creditors generally and to equitable
     limitations on the availability of specific remedies.

            (e) No Violation.  The execution, delivery and performance by
     AmSouth Bank of this Agreement and the consummation of the transactions
     contemplated hereby will not conflict with, result in any material breach
     of any of the terms and provisions of, constitute (with or without notice
     or lapse of time) a material default under or result in the creation or
     imposition of any Lien upon any of its material properties pursuant to the
     terms of, (i) the articles of incorporation or bylaws of AmSouth Bank, (ii)
     any material indenture, contract, lease, mortgage, deed of trust or other
     instrument or agreement to which AmSouth Bank is a party or by which
     AmSouth Bank is bound, or (iii) any law, order, rule or regulation
     applicable to AmSouth Bank of any federal or state regulatory

                                                       2000-1 PURCHASE AGREEMENT

                                       6
<PAGE>

     body, any court, administrative agency, or other governmental
     instrumentality having jurisdiction over AmSouth Bank.

            (f) No Proceedings.  There are no proceedings or investigations
     pending, or, to the knowledge of AmSouth Bank, threatened, before any
     court, regulatory body, administrative agency, or other tribunal or
     governmental instrumentality having jurisdiction over AmSouth Bank or its
     properties: (i) asserting the invalidity of this Agreement or the
     transactions contemplated herein, (ii) seeking to prevent the consummation
     of any of the transactions by this Agreement, (iii) seeking any
     determination or ruling that might materially and adversely affect the
     performance by AmSouth Bank of its obligations under, or the validity or
     enforceability of, this Agreement or the transactions contemplated herein,
     or (iv) that may materially and adversely affect this Agreement or the
     transactions contemplated hereby.

            (g) Chief Executive Office.  The chief executive office of AmSouth
     Bank is set forth in Exhibit A attached hereto.

            (h) Official Record.  This Agreement and all other documents related
     hereto which AmSouth Bank is a party have been approved by AmSouth Bank's
     board of directors, which approval is reflected in the minutes of such
     board, and shall continuously from time to time of each such document's
     execution, be maintained as an official record of AmSouth Bank.

     SECTION 3.3  Representations and Warranties as to Each Receivable.

     AmSouth Bank hereby makes the following representations and warranties as
to each Receivable conveyed by it to Purchaser hereunder on which Purchaser
shall rely in acquiring the Receivables.  Unless otherwise indicated, such
representations and warranties shall speak as of the Closing Date, but shall
survive the sale, transfer and assignment of the Receivables to Purchaser
hereunder, the subsequent sale, transfer and assignment of the Receivables to
Issuer under the Sale and Servicing Agreement, and the pledge thereof to
Indenture Trustee pursuant to the Indenture.

            (a) Characteristics of Receivables. The Receivable has been fully
     and properly executed by the parties thereto and (i) has been originated by
     a Dealer in the ordinary course of such Dealer's business to finance the
     retail sale by a Dealer of the related Financed Vehicle and has been
     purchased by AmSouth Bank or its predecessors in interest in the ordinary
     course of their business, (ii) was underwritten in accordance with AmSouth
     Bank's underwriting standards, (iii) is secured by a valid, subsisting,
     binding and enforceable first priority security interest in favor of
     AmSouth Bank in the Financed Vehicle (subject to administrative delays and
     clerical errors on the part of the applicable government agency and to any
     statutory or other lien arising by operation of law after the Closing Date
     which is prior to such security interest), which security interest is
     assignable together with such Receivable, and has been so assigned to
     Purchaser, and

                                                       2000-1 PURCHASE AGREEMENT

                                       7
<PAGE>

     subsequently assigned to Issuer pursuant to the Sale and Servicing
     Agreement, and pledged to Indenture Trustee pursuant to the Indenture, (iv)
     contains customary and enforceable provisions such that the rights and
     remedies of the holder thereof are adequate for realization against the
     collateral of the benefits of the security, (v) provided, at origination,
     for level monthly payments (provided that the amount of the first or last
     payment may be minimally different), which fully amortize the Initial
     Principal Balance over the original term, (vi) provides for interest at the
     Contract Rate specified in the Schedule of Receivables, (vii) was
     originated in the United States and (viii) constitutes "chattel paper" as
     defined in the UCC.

            (b) Individual Characteristics. The Receivables have the following
     individual characteristics as of the Cutoff Date; (i) each Receivable is
     secured by a Motor Vehicle; (ii) each Receivable was originated in the
     United States of America, (iii) each Receivable provides for level monthly
     payments which fully amortize the amount financed, except for the last
     payment, which may be slightly different from the level payment; (iv) each
     Receivable has a Contract Rate of no less than 8.00% and not more than
     11.00%; (v) each Receivable had an original term to maturity of not more
     than 72 months and not less than 18 months and each Receivable has a
     remaining term to maturity, as of the Cutoff Date, of six months or more;
     (vi) each Receivable had an Initial Principal Balance less than or equal to
     $60,000; (vii) each Receivable has a Cutoff Date Principal Balance of
     greater than or equal to $1,001; (viii) no Receivable has a scheduled
     maturity date later than August 30, 2006; (ix) no Receivable was more than
     29 days past due as of the Cutoff Date; (x) no Financed Vehicle was noted
     in the related records of AmSouth Bank as being the subject of any pending
     bankruptcy or insolvency proceeding as of the Cutoff Date; (xi) no
     Receivable is subject to a force placed Physical Damage Insurance Policy on
     the related Financed Vehicle; (xii) each Receivable is a Simple Interest
     Receivable; and (xiii) the Dealer of the Financed Vehicle has no
     participation in, or other right to receive, any proceeds of the
     Receivable. The Receivables were selected using selection procedures that
     were not intended by AmSouth Bank to be adverse to the Purchaser.

            (c) Schedule of Receivables. The information with respect to each
     Receivable set forth in the Schedule of Receivables, including (without
     limitation) the account number, the Cutoff Date Principal Balance, the
     maturity date and the Contract Rate, was true and correct in all material
     respects as of the close of business on the Cutoff Date.

            (d) Compliance with Law. The Receivable and the sale of the related
     Financed Vehicle complied at the time it was originated or made, and will
     comply as of the Closing Date, in all material respects with all
     requirements of applicable federal, state and local laws, and regulations
     thereunder, including, to the extent applicable, usury laws, the Federal
     Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Credit
     Reporting Act, the Federal Trade Commission Act, the Magnuson-Moss Warranty
     Act, the Fair Debt Collection Practices Act, Federal Reserve Board
     Regulations B and Z and any other consumer credit, consumer protection,
     equal opportunity and disclosure laws.

                                                       2000-1 PURCHASE AGREEMENT

                                       8
<PAGE>

            (e) Binding Obligation. The Receivable constitutes the genuine,
     legal, valid and binding payment obligation in writing of the Obligor,
     enforceable in all material respects by the holder thereof in accordance
     with its terms, subject to the effect of bankruptcy, insolvency,
     reorganization, or other similar laws affecting the enforcement of
     creditors' rights generally, and the Receivable is not subject to any right
     of rescission, setoff, counterclaim or defense, including the defense of
     usury.

            (f) Lien in Force.  The Receivable has not been satisfied,
     subordinated or rescinded and AmSouth Bank has not taken any action which
     would have the effect of releasing the related Financed Vehicle from the
     Lien granted by the Receivable in whole or in part.

            (g) No Amendment or Waiver. No material provision of the Receivable
     has been amended, waived, altered or modified in any respect, except such
     waivers as would be permitted under the Sale and Servicing Agreement and as
     are reflected in the Receivable File, and no amendment, waiver, alteration
     or modification causes such Receivable not to conform to the other
     representations or warranties contained in this Section.

            (h) No Liens. There are no Liens or claims, including Liens for
     work, labor, materials or unpaid state or federal taxes, relating to the
     Financed Vehicle securing the Receivable, that are or may be prior to or
     equal to the Lien granted by the Receivable.

            (i) No Default. Except for payment delinquencies continuing for a
     period of less than 30 days as of the Cutoff Date, there is no default,
     breach, violation or event permitting acceleration under the terms of the
     Receivable exists and no continuing condition that with notice or lapse of
     time, or both, would constitute a default, breach, violation or event
     permitting acceleration under the terms of the Receivable has arisen.

            (j) Insurance.  The Receivable requires the Obligor to insure the
     Financed Vehicle under a Physical Damage Insurance Policy, pay the premiums
     for such insurance and keep such insurance in full force and effect.  With
     respect to each Receivable, AmSouth Bank, in accordance with its customary
     standards, policies and procedures, shall have determined that, as of the
     date of origination of each Receivable, the Obligor had obtained or agreed
     to obtain a Physical Damage Insurance Policy covering the Financed Vehicle.

            (k) Good Title. It is the intention of AmSouth Bank that the
     transfer and assignment herein contemplated constitute a sale of the
     Receivables from AmSouth Bank to Purchaser and that the beneficial interest
     in and title to the Receivables not be part of AmSouth Bank's estate in the
     event of the filing of a bankruptcy petition or insolvency proceeding by or
     against AmSouth Bank under any bankruptcy or insolvency law. No Receivable
     has been sold, transferred, assigned, or pledged by AmSouth Bank to any
     Person other than Purchaser. Immediately prior to the transfer and
     assignment herein

                                                       2000-1 PURCHASE AGREEMENT

                                       9
<PAGE>

     contemplated, AmSouth Bank had good and marketable title to the Receivable
     free and clear of any Lien and had full right and power to transfer and
     assign the Receivable to Purchaser and immediately upon the transfer and
     assignment of the Receivable to Purchaser, Purchaser shall have good and
     marketable title to the Receivable, free and clear of any Lien; and
     Purchaser's interest in the Receivable resulting from the transfer has been
     perfected under the UCC. All filings (including UCC filings) necessary in
     any jurisdiction to give Purchaser a first priority perfected ownership
     interest in the Receivables, to give Issuer a first priority perfected
     ownership interest in the Receivables, and to give Indenture Trustee a
     first priority perfected security interest therein, shall have been
     presented to Indenture Trustee for filing in the appropriate filing
     offices. Upon such filing by the Indenture Trustee, the Indenture Trustee
     will have a first priority perfected security interest in the Receivables.

            (l) Obligations. AmSouth Bank has duly fulfilled all material
     obligations on its part to be fulfilled under, or in connection with, the
     Receivable.

            (m) Possession. There is only one original executed Receivable, and
     immediately prior to the Closing Date, AmSouth Bank will have possession of
     such original executed Receivable.

            (n) No Government Obligor. The Obligor on the Receivable is not the
     United States of America or any state thereof or any local government, or
     any agency, department, political subdivision or instrumentality of the
     United States of America or any state thereof or any local government.

            (o) Marking Records. By the Closing Date, AmSouth Bank shall have
     caused the portions of AmSouth Bank's electronic master record of Motor
     Vehicle Loans relating to the Receivables to be clearly and unambiguously
     marked to show that the Receivable is owned by Purchaser in accordance with
     the terms of this Agreement.

            (p) No Assignment. As of the Closing Date, AmSouth Bank shall not
     have taken any action to convey any right to any Person that would result
     in such Person having a right to payments received under the Insurance
     Policies or Dealer Agreements, or payments due under the Receivable, that
     is senior to, or equal with, that of Purchaser.

            (q) Lawful Assignment. The Receivable has not been originated in,
     and is not subject to the laws of, any jurisdiction under which the sale,
     transfer or assignment of such Receivable hereunder or pursuant to
     transfers of the Notes or Certificates are unlawful, void or voidable.
     AmSouth Bank has not entered into any agreement with any Obligor that
     prohibits, restricts or conditions the assignment of any portion of the
     Receivables.

            (r) Dealer Agreements. A Dealer Agreement for each Receivable is in
     effect whereby the Dealer warrants title to the Motor Vehicle and
     indemnifies AmSouth Bank

                                                       2000-1 PURCHASE AGREEMENT

                                       10
<PAGE>

     against the unenforceability of each Receivable sold thereunder, and the
     rights of AmSouth Bank thereunder, with regard to the Receivable sold
     hereunder, have been validly assigned to and are enforceable against the
     Dealer by the Purchaser, along with any Dealer Recourse.

            (s) Composition of Receivable. No Receivable has a Principal Balance
     which includes capitalized interest, late charges or amounts attributable
     to the payment of the premium for any Physical Damage Insurance Policy.

            (t) Database File. The information included with respect to each
     Receivable in the database file delivered pursuant to Section 4.9(b) of the
     Sale and Servicing Agreement is accurate and complete in all material
     respects.

            (u) No Bankruptcies.  No Obligor on any Receivable was noted in the
     related Receivable File as having filed for bankruptcy in a proceeding
     which remained undischarged as of the Cutoff Date.

          (v) Amounts.  The Original Pool Balance was $950,415,639.

          (w) Aggregate Characteristics.  The Receivables had the following
characteristics in the aggregate as of the Cutoff Date: (i) approximately 51.7%
of the Original Pool Balance was attributable to loans for purchases of new
Financed Vehicles, and approximately 48.3% of the Original Pool Balance was
attributable to loans for purchases of used Financed Vehicles; (ii)
approximately 29.72% of the Original Pool Balance was attributable to
Receivables the mailing addresses of the Obligors with respect to which are
located in the State of Alabama, 24.17% of the Original Pool Balance was
attributable to Receivables the mailing addresses of the Obligors with respect
to which are located in the State of Florida, 17.86% of the Original Pool
Balance was attributable to Receivables the mailing addresses of the Obligors
with respect to which are located in the State of Georgia, 7.32% of the Original
Pool Balance was attributable to Receivables the mailing addresses of the
Obligors with respect to which are located in the State of Mississippi, 6.94% of
the Original Pool Balance was attributable to Receivables the mailing addresses
of the Obligors with respect to which are located in the State of Tennessee, and
no other state accounts for more than 5% of the Original Pool Balance; (iii) the
weighted average Contract Rate of the Receivables was 9.44%; (iv) there are
73,293 Receivables being conveyed by AmSouth Bank to Purchaser; (v) the average
Cutoff Date Principal Balance of the Receivables was $12,967; (vi) the weighted
average original term and weighted average remaining term of the Receivables
were 61.4 months and 49.4 months, respectively; and (vii) 97% of the Receivables
have their next scheduled payment date in either October or November of 2000.

      SECTION 3.4  Repurchase upon Breach.  AmSouth Bank or Purchaser, as the
case may be, shall inform the other party to this Agreement promptly, in
writing, upon the discovery of any breach or failure to be true of the
representations or warranties made by AmSouth Bank in Section 3.3; provided that
the failure to give such notice shall not affect any obligation of

                                                       2000-1 PURCHASE AGREEMENT

                                       11
<PAGE>

AmSouth Bank. If the breach or failure shall not have been cured by the last day
of the Collection Period which includes the 60th day (or if AmSouth Bank elects,
the 30th day) after the date on which AmSouth Bank becomes aware of, or receives
written notice from Purchaser of, such breach or failure, and such breach or
failure materially and adversely affects the interests of Issuer and the Holders
in any Receivable, AmSouth Bank shall repurchase each such Receivable from
Purchaser, or its successors or assigns, as of such last day of such Collection
Period at a purchase price equal to the Purchase Amount for such Receivable as
of such last day of such Collection Period, which amount shall be deposited in
the Collection Account pursuant to the provisions of the Sale and Servicing
Agreement. Notwithstanding the foregoing, any such breach or failure with
respect to the representations and warranties contained in Section 3.3 will not
be deemed to have such a material and adverse effect with respect to a
Receivable if the facts resulting in such breach or failure do not affect the
ability of Purchaser, or its successors or assigns, to receive and retain
payment in full on such Receivable. In consideration of the purchase of a
Receivable hereunder, AmSouth Bank shall (unless otherwise directed by
Purchaser, or its successors or assigns, in writing) deposit the Purchase Amount
of such Receivable, no later than the close of business on the next Deposit
Date, in the manner specified in Section 5.4 of the Sale and Servicing
Agreement. The sole remedy (except as provided in Section 4.2) of Purchaser and
its successor or assigns with respect to a breach or failure to be true of the
warranties made by AmSouth Bank pursuant to Section 3.3, shall be to require
AmSouth Bank to repurchase Receivables pursuant to this Section.

                                  ARTICLE IV

                           COVENANTS OF AMSOUTH BANK

     AmSouth Bank covenants and agrees with Purchaser as follows:

     SECTION 4.1  Protection of Title to AmSouth Bank Assets.  (a)  AmSouth
Bank shall execute and file such financing statements and cause to be executed
and filed such continuation statements, all in such manner and in such places as
may be required by law fully to preserve, maintain and protect the interest of
Purchaser, Owner Trustee and Indenture Trustee in the Receivables and the
proceeds thereof.  AmSouth Bank shall deliver (or cause to be delivered) to
Purchaser file-stamped copies of, or filing receipts for, any document filed as
provided above, as soon as available following such filing.

     (b) AmSouth Bank shall not change its name, identity or corporate structure
in any manner that would, could or might make any financing statement or
continuation statement filed in accordance with paragraph (a) above seriously
misleading within the meaning of (S) 9-402(7) of the UCC, unless it shall have
given Purchaser, Owner Trustee and Indenture Trustee at least 30 days' prior
written notice thereof and shall have promptly filed appropriate amendments to
all previously filed financing statements or continuation statements.

     (c) AmSouth Bank shall give Purchaser, Owner Trustee and Indenture Trustee
at least 60 days' prior written notice of any relocation of its principal
executive office if, as a result

                                                       2000-1 PURCHASE AGREEMENT

                                       12
<PAGE>

of such relocation, the applicable provisions of the UCC would require the
filing of any amendment of any previously filed financing or continuation
statement or of any new financing statement and shall promptly file any such
amendment or new financing statement.

     (d) AmSouth Bank shall maintain its computer systems relating to
installment loan recordkeeping so that, from and after the time of sale under
this Agreement of its Receivables, AmSouth Bank's master computer records
(including any backup archives) that refer to a Receivable shall indicate
clearly the interest of Purchaser, Issuer and Indenture Trustee in such
Receivable and that such Receivable has been sold to Purchaser and by Purchaser
to Issuer and is owned by Issuer and has been pledged to Indenture Trustee
pursuant to the Indenture.  Indication of Purchaser's, Issuer's and Indenture
Trustee's interest in a Receivable shall be deleted from or modified on AmSouth
Bank's computer systems when, and only when, the related Receivable shall have
been paid in full or repurchased by AmSouth Bank or purchased by Servicer.

     (e) If at any time AmSouth Bank shall propose to sell, grant a security
interest in or otherwise transfer any interest in automotive receivables to any
prospective purchaser, lender or other transferee, AmSouth Bank shall give to
such prospective purchaser, lender or other transferee computer tapes, records
or printouts (including any restored from backup archives) that, if they shall
refer in any manner whatsoever to any Receivable, shall indicate clearly that
such Receivable has been sold to Purchaser and then sold by Purchaser to Issuer
and pledged to Indenture Trustee.

     (f) AmSouth Bank shall, upon receipt by AmSouth Bank of reasonable prior
notice, permit Purchaser, Owner Trustee and Indenture Trustee, and their
respective agents at any time during normal business hours to inspect, audit and
make copies of and abstracts from AmSouth Bank's records regarding any
Receivable.

     (g) Upon request at any time, Purchaser, Owner Trustee or Indenture Trustee
shall have reasonable grounds to believe that such request is necessary in
connection with the performance of its duties under this Agreement, AmSouth Bank
shall furnish to Purchaser, Owner Trustee and Indenture Trustee within 30
Business Days, a list of all Receivables (by contract number and name of
Obligor) conveyed to Purchaser hereunder and then owned by Issuer and pledged to
Indenture Trustee, together with a reconciliation of such list to the Schedule
of Receivables and to each of Servicer's Reports furnished before such request
indicating removal of Receivables from Issuer.

     (h) AmSouth Bank shall deliver or cause to be delivered to Purchaser, Owner
Trustee and Indenture Trustee:

            (1) promptly after the execution and delivery of this Agreement and
     of each amendment thereto, an Opinion of Counsel either (A) stating that,
     in the opinion of such counsel, all financing statements and continuation
     statements have been executed and filed that are necessary fully to
     preserve and protect the interest of Purchaser in the Receivables, and
     reciting the details of such filings or referring to prior Opinions of

                                                       2000-1 PURCHASE AGREEMENT

                                       13
<PAGE>

     Counsel in which such details are given, or (B) stating that, in the
     opinion of such counsel, no such action shall be necessary to preserve and
     protect such interest; and

            (2) within 120 days after the beginning of each calendar year
     beginning with the first calendar year beginning more than four months
     after the Cutoff Date, an Opinion of Counsel, dated as of a date during
     such 120-day period, either (A) stating that, in the opinion of such
     counsel, all financing statements and continuation statements have been
     executed and filed that are necessary fully to preserve and protect the
     interest of Purchaser in the Receivables, and reciting the details of such
     filings or referring to prior Opinions of Counsel in which such details are
     given, or (B) stating that, in the opinion of such counsel, no such action
     shall be necessary to preserve and protect such interest.

     Each Opinion of Counsel referred to in clause (1) or (2) above shall
specify any action necessary (as of the date of such opinion) to be taken in the
following year to preserve and protect such interest.

     SECTION 4.2  Liability of AmSouth Bank; Indemnities.  AmSouth Bank shall be
liable in accordance herewith only to the extent of the obligations specifically
undertaken by AmSouth Bank under this Agreement.

            (a) AmSouth Bank shall indemnify, defend and hold harmless
     Purchaser, Issuer, Owner Trustee (individually and in its capacity as such)
     and Indenture Trustee (individually and in its capacity as such) and their
     respective officers, directors, employees and agents from and against any
     taxes that may at any time be asserted against any such Person with respect
     to, and on the date of, the sale of the Receivables to Purchaser, including
     any sales, gross receipts, general corporation, tangible personal property,
     privilege or license taxes (but, not including any taxes asserted with
     respect to Federal or other income taxes arising out of this Agreement and
     the other Basic Documents) and costs and expenses in defending against the
     same.

            (b) AmSouth Bank shall indemnify, defend and hold harmless
     Purchaser, Issuer, Owner Trustee (individually and in its capacity as
     such), Indenture Trustee (individually and in its capacity as such), the
     Certificateholders, the Noteholders and the officers, directors, employees
     and agents of Purchaser, Issuer, Owner Trustee and Indenture Trustee from
     and against any and all costs, expenses, losses, claims, damages and
     liabilities to the extent arising out of, or imposed upon such Person
     through or as a result of (i) AmSouth Bank's willful misfeasance, bad faith
     or gross negligence in the performance of its duties under this Agreement
     or any other Basic Document, (ii) the failure of any Receivable conveyed by
     it to Purchaser hereunder, or the sale of the related Financed Vehicle, to
     comply with all requirements of applicable law, (iii) any breach of any of
     AmSouth Bank's representations, warranties or covenants contained herein or
     in any other Basic Document provided, however, with respect to a breach of
     AmSouth Bank's representations and warranties as set forth in Section 3.3,
     any indemnification amounts owed pursuant to this Section 4.2 with respect
     of a Receivable shall give effect

                                                       2000-1 PURCHASE AGREEMENT

                                       14
<PAGE>

     to and not be duplicative of the Purchase Amounts paid by AmSouth Bank
     pursuant to Section 3.4 hereof, and (iv) the use, ownership or operation by
     AmSouth Bank or any of its Affiliates of a Financed Vehicle prior to the
     Cutoff Date.

Indemnification under this Section shall survive the termination of this
Agreement or any other Basic Document and the resignation or removal of the
Owner Trustee or Indenture Trustee and shall include reasonable fees and
expenses of counsel and other expenses of litigation.  If any suit, action,
proceeding (including any governmental or regulatory investigation), claim or
demand shall be brought or asserted against any Person in respect of which
indemnity may be sought pursuant to this Section, such Person (the "Indemnified
Person") shall promptly notify AmSouth Bank in writing, and AmSouth Bank, upon
request of the Indemnified Person, shall retain counsel reasonably satisfactory
to the Indemnified Person to represent the Indemnified Person and any others
AmSouth Bank designates in such proceeding and shall pay the reasonable fees and
expenses of such counsel related to such proceeding.  AmSouth Bank shall not be
liable for any settlement of any claim or proceeding effected without its
written consent, but if settled with such consent or if there be a final
judgment for the plaintiff, AmSouth Bank agrees to indemnify any Indemnified
Person from and against any loss or liability by reason of such settlement or
judgment.  AmSouth Bank shall not, without the prior written consent of the
Indemnified Person, effect any settlement of any pending or threatened
proceeding in respect of which any Indemnified Person is or could have been a
party and indemnity could have been sought hereunder by such Indemnified Person,
unless such settlement includes an unconditional release of such Indemnified
Person from all liability on claims that are the subject matter of such
proceeding.  If AmSouth Bank shall have made any indemnity payments pursuant to
this Section and the Person to or on behalf of whom such payments are made
thereafter shall collect any of such amounts from others, such Person shall
promptly repay such amounts to AmSouth Bank, without interest.

                                   ARTICLE V

                            MISCELLANEOUS PROVISIONS

      SECTION 5.1  Obligations of AmSouth Bank.  The obligations of AmSouth Bank
under this Agreement shall not be affected by reason of any invalidity,
illegality or irregularity of any Receivable.

      SECTION 5.2  AmSouth Bank's Assignment of Purchased Receivables.  With
respect to all Receivables repurchased by AmSouth Bank pursuant to this
Agreement, Purchaser shall assign, without recourse, representation or warranty,
to AmSouth Bank all Purchaser's right, title and interest in and to such
Receivables, and all security and documents relating thereto.

      SECTION 5.3  Subsequent Transfer to Issuer and Indenture Trustee.  AmSouth
Bank acknowledges that:

                                                       2000-1 PURCHASE AGREEMENT

                                       15
<PAGE>

            (a) Purchaser will, pursuant to the Sale and Servicing Agreement,
     sell the Receivables to Issuer and assign its rights under this Agreement
     to the Owner Trustee for the benefit of the Noteholders and the
     Certificateholders, and that the representations and warranties contained
     in this Agreement and the rights of Purchaser under Section 3.4 hereof are
     intended to benefit Issuer, the Owner Trustee, the Noteholders and the
     Certificateholders.  AmSouth Bank hereby consents to such sale and
     assignment.

            (b) Issuer will, pursuant to the Indenture, pledge the Receivables
     and its rights under this Agreement to the Indenture Trustee for the
     benefit of the Noteholders, and that the representations and warranties
     contained in this Agreement and the rights of Purchaser under this
     Agreement, including under Section 3.4 are intended to benefit the
     Indenture Trustee and the Noteholders.  AmSouth Bank hereby consents to
     such pledge.

      SECTION 5.4  Amendment.  (a)  This Agreement may be amended by AmSouth
Bank and the Purchaser, with the consent of the Owner Trustee and Indenture
Trustee (which consent may not be unreasonably withheld), but without the
consent of any of the Noteholders or the Certificateholders:

            (i) to cure any ambiguity or defect, to correct or supplement any
     provisions in this Agreement or for the purpose of adding any provisions to
     or changing in any manner or eliminating any of the provisions in this
     Agreement; provided that such action shall not, as evidenced by an Opinion
     of Counsel delivered to Purchaser, Owner Trustee and Indenture Trustee,
     adversely affect in any material respect the interests of any Noteholder or
     Certificateholder;

            (ii) (A) to add, modify or eliminate such provisions as may be
     necessary or advisable in order to enable all or a portion of Issuer to
     qualify as, and to permit an election to be made to cause all or a portion
     of Issuer to be treated as, a "financial asset securitization investment
     trust" under the Code, and (B) in connection with any such election, to
     modify or eliminate existing provisions set forth in this Agreement
     relating to the intended federal income tax treatment of the Notes or
     Certificates and Issuer in the absence of the election; it being a
     condition to any such amendment that the Rating Agency Condition shall have
     been met; and

            (iii)  to add, modify or eliminate such provisions as may be
     necessary or advisable in order to enable (a) the transfer to Issuer of all
     or any portion of the Receivables to be recognized as a sale under GAAP by
     Purchaser to Issuer, (b) Issuer to avoid becoming a member of Purchaser's
     consolidated group under GAAP or (c) AmSouth Bank or Purchaser, or any of
     their Affiliates to otherwise comply with or obtain more favorable
     treatment under any law or regulation or any accounting rule or principle;
     it being a condition to any such amendment that the Rating Agency condition
     shall have been met.

                                                       2000-1 PURCHASE AGREEMENT

                                       16
<PAGE>

     (b) This Agreement may also be amended from time to time by AmSouth Bank
and Purchaser, with the consent of the Servicer, Owner Trustee and Indenture
Trustee, the consent of the Holders of Notes evidencing not less than a majority
of the Outstanding Amount of the Notes and the consent of the Holders of
Certificates evidencing not less than a majority of the Certificate Percentage
Interests for the purpose of adding any provisions to or changing in any manner
or eliminating any of the provisions of this Agreement; provided that no such
amendment shall (i) increase or reduce in any manner the amount of, or
accelerate or delay the timing of, collections of payments on Receivables or
distributions that shall be required to be made for the benefit of the
Noteholders or the Certificateholders or (ii) reduce the aforesaid percentage of
the Outstanding Amount of the Notes and the Certificate Percentage Interests,
the Holders of which are required to consent to any such amendment, without the
consent of the Holders of all the outstanding Notes and the Holders of all the
outstanding Certificates of each class affected thereby.

     (c) Prior to the execution of any such amendment or consent, Purchaser
shall furnish written notification of the substance of such amendment or consent
to each Rating Agency, Owner Trustee, and Indenture Trustee. Promptly after the
execution of any such amendment or consent, Purchaser shall furnish written
notification the substance of such amendment or consent to each Noteholder,
Certificateholder, Owner Trustee and Indenture Trustee.

     (d) It shall not be necessary for the consent of Certificateholders or
Noteholders pursuant to this Section to approve the particular form of any
proposed amendment or consent, but it shall be sufficient if such consent shall
approve the substance thereof.

     (e) Prior to the execution of any amendment to this Agreement, Owner
Trustee and Indenture Trustee shall be entitled to receive and conclusively rely
upon an Opinion of Counsel stating that the execution of such amendment is
authorized or permitted by this Agreement and that all conditions precedent to
the execution and delivery of such amendment have been satisfied and the Opinion
of Counsel referred to in Section 4.1(h)(1) has been delivered.  Owner Trustee
and Indenture Trustee may, but shall not be obligated to, enter into any such
amendment which affects Owner Trustee's or Indenture Trustee's, as applicable,
own rights, duties or immunities under this Agreement or otherwise.

      SECTION 5.5  Waivers.  No failure or delay on the part of Purchaser in
exercising any power, right or remedy under this Agreement shall operate as a
waiver thereof, nor shall any single or partial exercise of any such power,
right or remedy preclude any other or further exercise thereof or the exercise
of any other power, right or remedy.

      SECTION 5.6  Notices.  All demands, notices and communications pursuant to
this Agreement to either party shall be in writing, personally delivered, or
sent by telecopier, overnight mail or mailed by certified mail, return receipt
requested, and shall be deemed to have been duly given upon receipt at the
address set forth in Exhibit A attached hereto or at such other address as may
be designated by it by notice to the other party.

                                                       2000-1 PURCHASE AGREEMENT

                                       17
<PAGE>

      SECTION 5.7  Costs and Expenses.  AmSouth Bank will pay all expenses
incident to the performance of its obligations under this Agreement and all
expenses in connection with the perfection as against third parties of
Purchaser's right, title and interest in and to the Receivables and Purchaser
agrees to pay expenses incident to the performance of its obligations under this
Agreement.

      SECTION 5.8  Representations to Survive.  The respective agreements,
representations, warranties and other statements by AmSouth Bank and Purchaser
set forth in or made pursuant to this Agreement shall remain in full force and
effect and will survive the Closing Date and any sale, transfer or assignment of
the Receivables by Purchaser.

      SECTION 5.9  Governing Law.  THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, 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.

      SECTION 5.1  Counterparts.  This Agreement may be executed in two or more
counterparts and by different parties on separate counterparts, each of which
shall be an original, but all of which together shall constitute one and the
same instrument.

      SECTION 5.1  Third Party Beneficiaries.  Each of the Issuer, Owner Trustee
(individually and in its capacity as such), Indenture Trustee (individually and
in its capacity as such) and other Persons referred to in Section 4.2 is an
intended third party beneficiary of the indemnities of AmSouth Bank set forth in
Section 4.2 and the other provisions of this Agreement in favor of such Persons.
It is acknowledged and agreed that such indemnities and other provisions may be
enforced by or on behalf of such Persons against AmSouth Bank to the same extent
as if it were a party hereto.

                            [SIGNATURE PAGES FOLLOW]

                                                       2000-1 PURCHASE AGREEMENT

                                       18
<PAGE>

   IN WITNESS WHEREOF, the parties hereby have caused this Purchase Agreement to
be executed by their respective officers thereunto duly authorized as of the
date and year first above written.

                         AMSOUTH BANK, as Seller

                         By: /s/ R. Mark Graf
                            --------------------------------------------
                         Name: R. Mark Graf
                         Title: Senior Vice President

                         AMSOUTH AUTO RECEIVABLES LLC, as Purchaser

                         By: /s/ R. Mark Graf
                            --------------------------------------------
                         Name: R. Mark Graf
                         Title: President

                                                       2000-1 PURCHASE AGREEMENT

                                       19
<PAGE>

                                                                       Exhibit A

                    Location of AmSouth Bank and Purchaser

AMSOUTH BANK

Address for Notice:

1900 Fifth Avenue North
AmSouth Sonat Tower
Birmingham, Alabama  35203

AMSOUTH AUTO RECEIVABLES LLC

Address for Notice:

1900 Fifth Avenue North
AmSouth Sonat Tower
Birmingham, Alabama  35203

                                       20<PAGE>

                                                                    Exhibit 10.3

                                                                  EXECUTION COPY

================================================================================

                           ADMINISTRATION AGREEMENT

                                 by and among

                           AMSOUTH AUTO TRUST 2000-1

                                   as Issuer

                                 AMSOUTH BANK

                               as Administrator

                                      and

                          THE BANK OF NEW YORK TRUST
                   COMPANY OF FLORIDA, NATIONAL ASSOCIATION

                             as Indenture Trustee

                          Dated as of October 1, 2000

================================================================================
<PAGE>

                               TABLE OF CONTENTS
<TABLE>
<CAPTION>
                                                                          Page
<S>  <C>                                                                  <C>
1.   Definitions and Usage................................................. 3

2.   Duties of the Administrator........................................... 4

3.   Records.............................................................. 11

4.   Compensation......................................................... 11

5.   Additional Information To Be Furnished to the Issuer................. 11

6.   Independence of the Administrator.................................... 11

7.   No Joint Venture..................................................... 12

8.   Other Activities of Administrator.................................... 12

9.   Term of Agreement; Resignation and Removal of Administrator.......... 12

10.  Action upon Termination, Resignation or Removal...................... 13

11.  Notices.............................................................. 13

12.  Amendments........................................................... 14

13.  Successors and Assigns............................................... 15

14.  Governing Law........................................................ 15

15.  Headings............................................................. 15

16.  Counterparts......................................................... 15

17.  Severability......................................................... 15

18.  Not Applicable to AmSouth Bank in Other Capacities................... 16

19.  Limitation of Liability of Owner Trustee and Indenture Trustee....... 16

20.  Third-Party Beneficiary.............................................. 16

21.  Nonpetition Covenants................................................ 16
</TABLE>

                                      i
<PAGE>

                            ADMINISTRATION AGREEMENT

     This ADMINISTRATION AGREEMENT, dated as of October 1, 2000 (as from time to
time amended, supplemented or otherwise modified and in effect, this
"Agreement"), is by and among AMSOUTH AUTO TRUST 2000-1, a New York common law
trust (the "Issuer"), AMSOUTH BANK, a banking corporation organized under the
laws of the State of Alabama, as administrator (the "Administrator"), and THE
BANK OF NEW YORK TRUST COMPANY OF FLORIDA, NATIONAL ASSOCIATION, a national
banking association, not in its individual capacity but solely as Indenture
Trustee (the "Indenture Trustee").

     WHEREAS, the Issuer is issuing the Notes pursuant to the Indenture and the
Certificates pursuant to the Trust Agreement and has entered into certain
agreements in connection therewith, including (i) the Sale and Servicing
Agreement, (ii) the Note Depository Agreement, and (iii) the Indenture (the Sale
and Servicing Agreement, the Note Depository Agreement and the Indenture being
referred to hereinafter collectively as the "Related Agreements");

     WHEREAS, the Issuer and the Owner Trustee desire to have the Administrator
perform certain duties of the Issuer and the Owner Trustee under the Related
Agreements and to provide such additional services consistent with the terms of
this Agreement and the Related Agreements as the Issuer and the Owner Trustee
may from time to time request; and

     WHEREAS, the Administrator has the capacity to provide the services
required hereby and is willing to perform such services for the Issuer and the
Owner Trustee on the terms set forth herein;

     NOW, THEREFORE, in consideration of the mutual covenants contained herein,
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties hereto, intending to be legally bound, agree
as follows:

1.   Definitions and Usage.

     (a)  Except as otherwise specified herein or as the context may otherwise
require, capitalized terms used but not otherwise defined herein are defined in
Appendix X to the Sale and Servicing Agreement.

      (b)  All terms defined in this Agreement shall have the defined meanings
when used in any certificate or other document delivered pursuant hereto unless
otherwise defined therein. For purposes of this Agreement and all such
certificates and other documents, unless the context otherwise requires: (i)
accounting terms not otherwise defined in this Agreement, and accounting terms
partly defined in this Agreement to the extent not defined, shall have the
respective meanings given to them under generally accepted accounting
principles; (ii) terms defined in Article 9 of the UCC as in effect in the State
of New York and not otherwise defined in this Agreement are used as defined in
that Article; (iii) the words "hereof," "herein" and "hereunder"

                                                 2000-1 Administration Agreement
<PAGE>

and words of similar import refer to this Agreement as a whole and not to any
particular provision of this Agreement; (iv) references to any Article, Section,
Schedule or Exhibit are references to Articles, Sections, Schedules and Exhibits
in or to this Agreement, and references to any paragraph, subsection, clause or
other subdivision within any Section or definition refer to such paragraph,
subsection, clause or other subdivision of such Section or definition; (v) the
term "including" means "including without limitation"; (vi) references to any
law or regulation refer to that law or regulation as amended from time to time
and include any successor law or regulation; (vii) references to any Person
include that Person's successors and assigns; and (viii) headings are for
purposes of reference only and shall not otherwise affect the meaning or
interpretation of any provision hereof.

2.   Duties of the Administrator.

     (a)  Duties with Respect to the Indenture and the Note Depository
Agreement.

          (i)   The Administrator agrees to perform all its duties as
Administrator and the duties of the Issuer under the Note Depository Agreement.
In addition, the Administrator shall consult with the Owner Trustee regarding
the duties of the Issuer under the Indenture and the Note Depository Agreement.

          (ii)  The Administrator shall monitor the performance of the Issuer
and shall advise the Owner Trustee when action is necessary to comply with the
Issuer's duties under the Indenture and the Note Depository Agreement.

          (iii) The Administrator shall prepare for execution by the Issuer, or
shall cause the preparation by appropriate persons of, all such documents,
reports, filings, instruments, certificates and opinions that shall be the duty
of the Issuer to prepare, file or deliver pursuant to the Indenture and the Note
Depository Agreement.

          (iv)  In furtherance of the foregoing, the Administrator shall take
all appropriate action that is the duty of the Issuer to take pursuant to the
Indenture including, without limitation, such of the foregoing as are required
with respect to the following matters under the Indenture (references are to
sections of the Indenture):

               (A) the duty to cause the Note Register to be kept and to give
     the Indenture Trustee notice of any appointment of a new Note Registrar and
     the location, or change in location, of the Note Register (Section 2.4);

               (B) the preparation of or obtaining of the documents and
     instruments required for authentication of the Notes and delivery of the
     same to the Indenture Trustee (Section 2.2);

                                                 2000-1 Administration Agreement

                                       2
<PAGE>

               (C) the preparation, obtaining or filing of the instruments,
     opinions and certificates and other documents required for the release of
     property from the lien of the Indenture (Section 2.9);

               (D) the preparation of Definitive Notes in accordance with the
     instructions of the Clearing Agency (Section 2.12);

               (E) the maintenance of an office in the Borough of Manhattan,
     City of New York, for registration of transfer or exchange of Notes
     (Section 3.2);

               (F) the duty to cause newly appointed Note Paying Agents, if any,
     to deliver to the Indenture Trustee the instrument specified in the
     Indenture regarding funds held in trust (Section 3.3);

               (G) the direction to the Indenture Trustee to deposit monies with
     Note Paying Agents, if any, other than the Indenture Trustee (Section 3.3);

               (H) the obtaining and preservation of the Issuer's qualification
     to do business in each jurisdiction in which such qualification is or shall
     be necessary to protect the validity and enforceability of the Indenture,
     the Notes, the Collateral and each other instrument or agreement included
     in the Trust Estate (Section 3.4);

               (I) the preparation of all supplements and amendments to the
     Indenture and all financing statements, continuation statements,
     instruments of further assurance and other instruments and the taking of
     such other action as is necessary or advisable to protect the Trust Estate
     (Section 3.5);

               (J) the delivery of the Opinion of Counsel on the Closing Date
     and the annual delivery of Opinions of Counsel as to the Trust Estate, and
     the annual delivery of the Officer's Certificate and certain other
     statements as to compliance with the Indenture (Sections 3.6 and 3.9);

               (K) the identification to the Indenture Trustee in an Officer's
     Certificate of any Person with whom the Issuer has contracted to perform
     its duties under the Indenture (Section 3.7(b));

               (L) the notification of the Indenture Trustee and the Rating
     Agencies of an Event of Servicing Termination under the Sale and Servicing
     Agreement and, if such Event of Servicing Termination arises from the
     failure of the Servicer to perform any of its duties under the Sale and
     Servicing Agreement with respect to the Receivables, the taking of all
     reasonable steps available to remedy such failure (Section 3.7(d));

               (M) the preparation and obtaining of documents and instruments
     required for the transfer by the Issuer of its properties or assets
     (Section 3.10(b));

                                                 2000-1 Administration Agreement

                                       3
<PAGE>

               (N) the duty to cause the Servicer to comply with Sections 4.9,
     4.10, 4.11, 4.12 and 5.5 of the Sale and Servicing Agreement (Section
     3.14);

               (O) the delivery of written notice to the Indenture Trustee and
     the Rating Agencies of each Event of Default under the Indenture and each
     default by the Servicer or the Seller under the Sale and Servicing
     Agreement (Section 3.18);

               (P) the monitoring of the Issuer's obligations as to the
     satisfaction and discharge of the Indenture and the preparation of an
     Officer's Certificate and the obtaining of the Opinions of Counsel and the
     Independent Certificate relating thereto (Section 4.1);

               (Q) the monitoring of the Issuer's obligations as to the
     satisfaction, discharge and defeasance of the Notes and the preparation of
     an Officer's Certificate and the obtaining of an opinion of a nationally
     recognized firm of independent certified public accountants, a written
     confirmation thereof and the Opinions of Counsel relating thereto (Section
     4.1);

               (R) the preparation and delivery of an Officer's Certificate to
     the Indenture Trustee after the occurrence of any event which with the
     giving of notice and the lapse of time would become an Event of Default
     under Section 5.1(c) of the Indenture, its status and what action the
     Issuer is taking or proposes to take with respect thereto (Section 5.1);

               (S) the compliance with any written directive of the Indenture
     Trustee with respect to the sale of the Trust Estate at one or more public
     or private sales called and conducted in any manner permitted by law if an
     Event of Default shall have occurred and be continuing (Section 5.4);

               (T) the preparation and delivery of notice to Noteholders of the
     removal of the Indenture Trustee and the appointment of a successor
     Indenture Trustee (Section 6.8);

               (U) the preparation of any written instruments required to
     confirm more fully the authority of any co-trustee or separate trustee and
     any written instruments necessary in connection with the resignation or
     removal of any co-trustee or separate trustee (Sections 6.8 and 6.10);

               (V) the furnishing of the Indenture Trustee with the names and
     addresses of Noteholders during any period when the Indenture Trustee is
     not the Note Registrar (Section 7.1);

               (W) the preparation and, after execution by the Issuer, the
     filing with the Commission, any applicable state agencies and the Indenture
     Trustee of documents

                                                2000-1 Administration Agreement

                                       4
<PAGE>

     required to be filed on a periodic basis with, and summaries thereof as may
     be required by rules and regulations prescribed by, the Commission and any
     applicable state agencies and the transmission of such summaries, as
     necessary, to the Noteholders (Section 7.3);

               (X)  the preparation and delivery of Issuer Orders, Officer's
     Certificates and Opinions of Counsel and all other actions necessary with
     respect to investment and reinvestment, to the extent permitted, of funds
     in such accounts (Sections 8.2 and 8.3);

               (Y)  the preparation of an Issuer Request and Officer's
     Certificate and the obtaining of an Opinion of Counsel and Independent
     Certificates, if necessary, for the release of the Trust Estate (Sections
     8.4 and 8.5);

               (Z)  the preparation of Issuer Orders and the obtaining of
     Opinions of Counsel with respect to the execution of supplemental
     indentures and the mailing to the Noteholders of notices with respect to
     such supplemental indentures (Sections 9.1, 9.2 and 9.3);

               (AA) the execution and delivery of new Notes conforming to any
     supplemental indenture (Section 9.6);

               (BB) the notification of Noteholders of redemption of the Notes
     or duty to cause the Indenture Trustee to provide such notification
     (Section 10.2);

               (CC) the preparation and delivery of all Officer's Certificates
     and the obtaining of Opinions of Counsel and Independent Certificates with
     respect to any requests by the Issuer to the Indenture Trustee to take any
     action under the Indenture (Section 11.1(a));

               (DD) the preparation and delivery of Officer's Certificates and
     the obtaining of Independent Certificates, if necessary, for the release of
     property from the lien of the Indenture (Section 11.1(b));

               (EE) the notification of the Rating Agencies, upon the failure of
     the Indenture Trustee to give such notification, of the information
     required pursuant to Section 11.4 of the Indenture (Section 11.4);

               (FF) the preparation and delivery to Noteholders and the
     Indenture Trustee of any agreements with respect to alternate payment and
     notice provisions (Section 11.6); and

               (GG) the recording of the Indenture, if applicable (Section
     11.15).

                                                2000-1 Administration Agreement

                                       5
<PAGE>

          (v) Payment of Fees and Indemnification by the Administrator.

          The Administrator will:

               (A) pay the Indenture Trustee from time to time reasonable
     compensation for all services rendered by the Indenture Trustee under the
     Indenture (which compensation shall not be limited by any provision of law
     in regard to the compensation of a trustee of an express trust) pursuant to
     the terms of the letter agreement between Administrator and Indenture
     Trustee dated October 1, 2000;

               (B) The Administrator agrees to pay to each agent of the
     Indenture Trustee from time to time reasonable compensation for its
     services as agreed upon between such agent and the Administrative Agent.

               (C) except as otherwise expressly provided in the Indenture,
     reimburse the Indenture Trustee upon its request for all reasonable
     expenses, disbursements and advances incurred or made by the Indenture
     Trustee in accordance with any provision of the Indenture (including the
     reasonable compensation, expenses and disbursements of such agents and
     counsel as Indenture Trustee may employee in connection with the exercise
     and performance of its rights and its duties under the Indenture), except
     any such expense, disbursement or advance as may be attributable to its
     willful misconduct, negligence or bad faith;

               (D) indemnify the Indenture Trustee (individually and in its
     capacity as such) and its successors, assigns, directors, officers,
     employees and agents against any and all loss, liability or expense
     (including attorneys' fees and expenses) incurred by it in connection with
     the acceptance or the administration of the trust created under the
     Indenture and the performance of its duties thereunder; provided, however,
     that the Administrator shall not be liable for or required to indemnify
     Indenture Trustee from and against any of the foregoing expenses arising or
     resulting from Indenture Trustee's own willful misconduct, negligence or
     bad faith or to the extent arising from the breach by Indenture Trustee of
     any of its representations and warranties and covenants set forth in the
     Indenture;

               (E) pay to Owner Trustee from time to time reasonable
     compensation for all services rendered by Owner Trustee under the Trust
     Agreement (which compensation shall not be limited by any provision of law
     in regard to the compensation of a trustee of an express trust)pursuant to
     the terms of the letter agreement between Administrator and Owner Trustee
     dated October 19, 2000;

               (F) except as otherwise expressly provided for in the Trust
     Agreement, reimburse Owner Trustee upon its request for all reasonable
     expenses, disbursements and advances incurred or made by Owner Trustee in
     accordance with any provision of the Trust Agreement (including the
     reasonable compensation, expenses and disbursements of

                                                2000-1 Administration Agreement

                                       6
<PAGE>

     such agents and counsel as Owner Trustee may employee in connection with
     the exercise and performance of its rights and its duties under the Trust
     Agreement), except any such expense may be attributable to its willful
     misconduct, negligence or bad faith.

               (G) indemnify Owner Trustee (individually and in its capacity as
     such) and its successors, assigns, directors, officers, employees and
     agents from and against, any and all loss, liability and expense (including
     reasonable legal fees and expenses) of any kind and nature whatsoever which
     may at any time be imposed on, incurred by, or asserted against Owner
     Trustee or any Indemnified Party in any way relating to or arising out of
     the Trust Agreement, the Basic Documents, the Owner Trust Estate, the
     administration of the Owner Trust Estate or the action or inaction of Owner
     Trustee under the Trust Agreement, provided, however, that the
     Administrator shall not be liable for or required to indemnify Owner
     Trustee from and against any of the foregoing expenses arising or resulting
     from any of the matters described in the third sentence of Section 7.1 of
     the Trust Agreement.

     Indemnification under this subsection shall survive the resignation or
     removal of the Owner Trustee or the Indenture Trustee and the termination
     of this Agreement or any other Basic Document. If any suit, action,
     proceeding (including any governmental or regulatory investigation), claim
     or demand shall be brought or asserted against any Person in respect of
     which indemnity may be sought pursuant to this Section, such Person (the
     "Indemnified Person") shall promptly notify Administrator in writing, and
     Administrator, upon request of the Indemnified Person, shall retain counsel
     reasonably satisfactory to the Indemnified Person to represent the
     Indemnified Person and any others Administrator designates in such
     proceeding and shall pay the reasonable fees and expenses of such counsel
     related to such proceeding. Administrator shall not be liable for any
     settlement of any claim or proceeding effected without its written consent,
     but if settled with such consent or if there be a final judgment for the
     plaintiff, Administrator agrees to indemnify any Indemnified Person from
     and against any loss or liability by reason of such settlement or judgment.
     Administrator shall not, without the prior written consent of the
     Indemnified Person, effect any settlement of any pending or threatened
     proceeding in respect of which any Indemnified Person is or could have been
     a party and indemnity could have been sought hereunder by such Indemnified
     Person, unless such settlement includes an unconditional release of such
     Indemnified Person from all liability on claims that are the subject matter
     of such proceeding. If Administrator shall have made any indemnity payments
     pursuant to this subsection and the Person to or on behalf of whom such
     payments are made thereafter shall collect any of such amounts from others,
     such Person shall promptly repay such amounts to Administrator, without
     interest.

     (b) Additional Duties. (i) In addition to the duties of the Administrator
set forth above, the Administrator shall perform such calculations and shall
prepare or shall cause the preparation by other appropriate persons of, and
shall execute on behalf of the Issuer or the Owner Trustee, all such documents,
reports, filings, instruments, certificates and opinions that it shall be the
duty of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to
the
                                                2000-1 Administration Agreement

                                       7
<PAGE>

Related Agreements, and at the request of the Owner Trustee shall take all
appropriate action that it is the duty of the Issuer or the Owner Trustee to
take pursuant to the Related Agreements. Subject to Section 5 of this Agreement,
and in accordance with the directions of the Owner Trustee, the Administrator
shall administer, perform or supervise the performance of such other activities
in connection with the Collateral (including the Related Agreements) as are not
covered by any of the foregoing provisions and as are expressly requested by the
Owner Trustee and are reasonably within the capability of the Administrator:

          (i) Notwithstanding anything in this Agreement or the Related
Agreements to the contrary, the Administrator shall be responsible for promptly
notifying the Owner Trustee in the event that any withholding tax is imposed on
the Issuer's payments (or allocations of income) to a Certificateholder as
contemplated in Section 5.2(c) of the Trust Agreement. Any such notice shall
specify the amount of any withholding tax required to be withheld by the Owner
Trustee pursuant to such provision.

          (ii) Notwithstanding anything in this Agreement or the Related
Agreements to the contrary, the Administrator shall be responsible for
performance of the duties of the Trust or the Owner Trustee set forth in
Sections 5.5(a), (b), (c), (d) and (e), 5.6(a) and 9.1 of the Trust Agreement
and Sections 4.4(b), 4.7, 5.1(c) and 8.4 of the Sale and Servicing Agreement,
with respect to, among other things, accounting and reports to
Certificateholders.

          (ii) The Administrator will provide prior to November 15, 2000, a
certificate of an Authorized Officer in form and substance satisfactory to the
Owner Trustee as to whether any tax withholding is then required and, if
required, the procedures to be followed with respect thereto to comply with the
requirements of the Code.  The Administrator shall be required to update the
letter in each instance that any additional tax withholding is subsequently
required or any previously required tax withholding shall no longer be required.

          (iv)  The Administrator shall perform the duties of the Administrator
specified in Section 10.2 of the Trust Agreement required to be performed in
connection with the resignation or removal of the Owner Trustee, and any other
duties expressly required to be performed by the Administrator pursuant to the
Trust Agreement.

          (v) In carrying out the foregoing duties or any of its other
obligations under this Agreement, the Administrator may enter into transactions
or otherwise deal with any of its Affiliates; provided, however, that the terms
of any such transactions or dealings shall be in accordance with any directions
received from the Issuer and shall be, in the Administrator's opinion, no less
favorable to the Issuer than would be available from unaffiliated parties.

     (c)  Non-Ministerial Matters.  With respect to matters that in the
reasonable judgment of the Administrator are non-ministerial, the Administrator
shall not take any action unless within a reasonable time before the taking of
such action, the Administrator shall have notified the Owner Trustee of the
proposed action and the Owner Trustee shall not have withheld consent

                                                2000-1 Administration Agreement

                                       8
<PAGE>

or provided an alternative direction. For the purpose of the preceding sentence,
"non-ministerial matters" shall include, without limitation:

               (A) the amendment of or any supplement to the Indenture;

               (B) the initiation of any claim or lawsuit by the Issuer and the
     compromise of any action, claim or lawsuit brought by or against the Issuer
     (other than in connection with the collection of the Receivables or
     Permitted Investments);

               (C) the amendment, change or modification of the Related
     Agreements;

               (D) the appointment of successor Note Registrars, successor Note
     Paying Agents and successor Indenture Trustees pursuant to the Indenture or
     the appointment of successor Administrators or Successor Servicers, or the
     consent to the assignment by the Note Registrar, Note Paying Agent or
     Indenture Trustee of its obligations under the Indenture; and

               (E) the removal of the Indenture Trustee.

          (ii)   Notwithstanding anything to the contrary in this Agreement, the
Administrator shall not be obligated to, and shall not, (x) make any payments to
the Noteholders under the Related Agreements, (y) sell the Trust Estate pursuant
to Section 5.4 of the Indenture or (z) take any other action that the Issuer
directs the Administrator not to take on its behalf.

3.   Records. The Administrator shall maintain appropriate books of account and
records relating to services performed hereunder, which books of account and
records shall be accessible for inspection by the Issuer and the Seller at any
time during normal business hours.

4.   Compensation. As compensation for the performance of the Administrator's
obligations under this Agreement and, as reimbursement for its expenses related
thereto, the Administrator shall be entitled to $2,500 annually which shall be
solely an obligation of the Servicer.

5.   Additional Information To Be Furnished to the Issuer. The Administrator
shall furnish to the Issuer from time to time such additional information
regarding the Collateral as the Issuer shall reasonably request.

6.   Independence of the Administrator. For all purposes of this Agreement, the
Administrator shall be an independent contractor and shall not be subject to the
supervision of the Issuer, the Owner Trustee or the Indenture Trustee with
respect to the manner in which it accomplishes the performance of its
obligations hereunder. Unless expressly authorized by the Issuer, the
Administrator shall have no authority to act for or represent the Issuer or the
Owner Trustee (and, regardless of whether authorized by the Issuer, the
Administrator shall have no
                                                2000-1 Administration Agreement

                                       9
<PAGE>

such authority at all with respect to the Indenture Trustee) in any way and
shall not otherwise be deemed an agent of the Issuer, the Owner Trustee or the
Indenture Trustee.

7.   No Joint Venture. Nothing contained in this Agreement shall constitute the
Administrator and either of the Issuer or the Owner Trustee as members of any
partnership, joint venture, association, syndicate, unincorporated business or
other separate entity, shall be construed to impose any liability as such on any
of them or shall be deemed to confer on any of them any express, implied or
apparent authority to incur any obligation or liability on behalf of the others.

8.   Other Activities of Administrator. Nothing herein shall prevent the
Administrator or its Affiliates from engaging in other businesses or, in its
sole discretion, from acting in a similar capacity as an administrator for any
other person or entity even though such person or entity may engage in business
activities similar to those of the Issuer, the Owner Trustee or the Indenture
Trustee.

9.   Term of Agreement; Resignation and Removal of Administrator.

     (a)  This Agreement shall continue in force until the dissolution of the
Issuer, upon which event this Agreement shall automatically terminate.

     (b)  Subject to Sections 9(e) and 9(f), the Administrator may resign its
duties hereunder by providing the Issuer with at least sixty (60) days' prior
written notice.

     (c)  Subject to Sections 9(e) and 9(f), the Issuer may remove the
Administrator without cause by providing the Administrator with at least sixty
(60) days' prior written notice.

     (d)  Subject to Sections 9(e) and 9(f), at the sole option of the Issuer,
the Administrator may be removed immediately upon written notice of termination
from the Issuer to the Administrator if any of the following events shall occur:

          (i)    the Administrator shall default in the performance of any of
its duties under this Agreement and, after notice of such default, shall not
cure such default within ten (10) days (or, if such default cannot be cured in
such time, shall not give within ten (10) days such assurance of cure as shall
be reasonably satisfactory to the Issuer);

          (ii)   a court having jurisdiction in the premises shall enter a
decree or order for relief, and such decree or order shall not have been vacated
within sixty (60) days, in respect of the Administrator in any involuntary case
under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect or appoint a receiver, liquidator, assignee, custodian,
trustee, sequestrator or similar official for the Administrator or any
substantial part of its property or order the winding-up or liquidation of its
affairs; or

                                                2000-1 Administration Agreement

                                       10
<PAGE>

          (iii)  the Administrator shall commence a voluntary case under any
applicable bankruptcy, insolvency or other similar law now or hereafter in
effect, shall consent to the entry of an order for relief in an involuntary case
under any such law, shall consent to the appointment of a receiver, liquidator,
assignee, trustee, custodian, sequestrator or similar official for the
Administrator or any substantial part of its property, shall consent to the
taking of possession by any such official of any substantial part of its
property, shall make any general assignment for the benefit of creditors or
shall fail generally to pay its debts as they become due.

     The Administrator agrees that if any of the events specified in clauses (2)
or (3) of this Section 9(c) shall occur, it shall give written notice thereof to
the Issuer and the Trustee within seven (7) days after the happening of such
event.

     (e)  No resignation or removal of the Administrator pursuant to this
Section 9 shall be effective until (1) a successor Administrator shall have been
appointed by the Issuer and (2) such successor Administrator shall have agreed
in writing to be bound by the terms of this Agreement in the same manner as the
Administrator is bound hereunder.

     (f)  The appointment of any successor Administrator shall be effective only
after satisfaction of the Rating Agency Condition with respect to the proposed
appointment.

     (g)  Subject to Sections 9(e) and 9(f), the Administrator acknowledges that
upon the appointment of a successor Servicer pursuant to the Sale and Servicing
Agreement, the Administrator shall immediately resign and such successor
Servicer shall automatically become the Administrator under this Agreement.

10.  Action upon Termination, Resignation or Removal. Promptly upon the
effective date of termination of this Agreement pursuant to Section 9(a) or the
resignation or removal of the Administrator pursuant to Section 9(b) or (c),
respectively, the Administrator shall be entitled to be paid all fees and
reimbursable expenses accruing to it to the date of such termination,
resignation or removal. The Administrator shall forthwith upon such termination
pursuant to Section 9(a) deliver to the Issuer all property and documents of or
relating to the Collateral then in the custody of the Administrator. In the
event of the resignation or removal of the Administrator pursuant to Section
9(b) or (c), respectively, the Administrator shall cooperate with the Issuer and
the Indenture Trustee and take all reasonable steps requested to assist the
Issuer in making an orderly transfer of the duties of the Administrator.

11.  Notices. Any notice, report or other communication given hereunder shall be
in writing and addressed as follows:

     (a) if to the Issuer or the Owner Trustee, to:

                                                2000-1 Administration Agreement

                                       11
<PAGE>

               AmSouth Auto Trust 2000-1
               c/o The Chase Manhattan Bank
               450 West 33/rd/ Street, 14/th/ Floor
               New York, New York 10001
               Attention: Capital Markets Fiduciary Services - Group Structured
               Finance
               Telephone: (212) 946-3676
               Facsimile: (212) 946-8302

     (b)  if to the Administrator, to:

               AmSouth Bank
               1900 5th Avenue North
               AmSouth/SONAT Tower
               Birmingham, Alabama 35203
               Attention: David Parks
               Telephone: (205) 581-7403
               Facsimile: (205) 326-4072

     (c)  If to the Indenture Trustee, to:

               The Bank of New York Trust
               Company of Florida, National Association
               c/o The Bank of New York
               101 Barclay Street, 12E
               New York, NY 10286
               Attention: Mauro Palladino
               Telephone: (212) 815-5766
               Facsimile:  (212) 815-5544

or to such other address as any party shall have provided to the other parties
in writing.  Any notice required to be in writing hereunder shall be deemed
given if such notice is mailed by certified mail, postage prepaid, or hand-
delivered to the address of such party as provided above.

12.  Amendments.  This Agreement may be amended from time to time by a written
amendment duly executed and delivered by the Issuer, the Administrator and the
Indenture Trustee, with the written consent of the Owner Trustee, without the
consent of the Noteholders and the Certificateholders, for the purpose of adding
any provisions to or changing in any manner or eliminating any of the provisions
of this Agreement or of modifying in any manner the rights of the Noteholders or
Certificateholders; provided that, unless the Rating Agency Condition shall have
been satisfied, such amendment will not, as set forth in an Opinion of Counsel
satisfactory to the Indenture Trustee and the Owner Trustee, materially and
adversely affect the interest of any Noteholder or Certificateholder.  This
Agreement may also be amended

                                                2000-1 Administration Agreement

                                       12
<PAGE>

by the Issuer, the Administrator and the Indenture Trustee with the written
consent of the Owner Trustee and the Noteholders of Notes evidencing not less
than a majority of the Notes Outstanding and the Certificateholders of
Certificates evidencing not less than a majority of the Certificate Balance for
the purpose of adding any provisions to or changing in any manner or eliminating
any of the provisions of this Agreement or of modifying in any manner the rights
of Noteholders or the Certificateholders; provided, however, that no such
amendment may increase or reduce in any manner the amount of, or accelerate or
delay the timing of, collections of payments on Receivables or distributions
that are required to be made for the benefit of the Noteholders or
Certificateholders or reduce the aforesaid percentage of the Noteholders and
Certificateholders which are required to consent to any such amendment, without
the consent of the Noteholders of all the Notes Outstanding and
Certificateholders of Certificates evidencing all the Certificate Balance.
Notwithstanding the foregoing, the Administrator may not amend this Agreement
without the consent of the Seller, which permission shall not be unreasonably
withheld.

13.  Successors and Assigns.  This Agreement may not be assigned by the
Administrator unless such assignment is previously consented to in writing by
the Issuer, the Owner Trustee and the Indenture Trustee and subject to the
satisfaction of the Rating Agency Condition in respect thereof.  An assignment
with such consent and satisfaction, if accepted by the assignee, shall bind the
assignee hereunder in the same manner as the Administrator is bound hereunder.
Notwithstanding the foregoing, this Agreement may be assigned by the
Administrator without the consent of the Issuer, the Owner Trustee or the
Indenture Trustee to a corporation or other organization that is a successor (by
merger, consolidation or purchase of assets) to the Administrator; provided that
such successor organization executes and delivers to the Issuer, the Owner
Trustee and the Indenture Trustee an agreement in which such corporation or
other organization agrees to be bound hereunder by the terms of said assignment
in the same manner as the Administrator is bound hereunder.  Subject to the
foregoing, this Agreement shall bind any successors or assigns of the parties
hereto.

14.  Governing Law.  This agreement shall be construed in accordance with the
laws of the State of New York, and the obligations, rights and remedies of the
parties hereunder shall be determined in accordance with such laws.

15.  Headings.  The Section headings hereof have been inserted for convenience
of reference only and shall not be construed to affect the meaning, construction
or effect of this Agreement.

16.  Counterparts.  This Agreement may be executed in counterparts, each of
which when so executed shall be an original, but all of which together shall
constitute but one and the same agreement.

17.  Severability.  Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions
hereof and any such prohibition or unenforceability in any jurisdiction shall
not invalidate or render unenforceable such provision in any other jurisdiction.

                                                2000-1 Administration Agreement

                                       13
<PAGE>

18.  Not Applicable to AmSouth Bank in Other Capacities.  Nothing in this
Agreement shall affect any right or obligation AmSouth Bank may have in any
other capacity.

19.  Limitation of Liability of Owner Trustee and Indenture Trustee.  (a)
Notwithstanding anything contained herein to the contrary, this instrument has
been countersigned by The Chase Manhattan Bank not in its individual capacity
but solely in the capacity as Owner Trustee of the Issuer and in no event shall
The Chase Manhattan Bank in its individual capacity or any beneficial owner of
the Issuer have any liability for the representations, warranties, covenants,
agreements or other obligations of the Issuer hereunder, as to all of which
recourse shall be had solely to the assets of the Issuer.  For all purposes of
this Agreement, in the performance of any duties or obligations of the Issuer
hereunder, the Owner Trustee shall be subject to, and entitled to the benefits
of, the terms and provisions of Articles VI, VII and VIII of the Trust
Agreement.

      (b)  Notwithstanding anything contained herein to the contrary, this
Agreement has been countersigned by The Bank of New York Trust Company of
Florida, National Association not in its individual capacity but solely as
Indenture Trustee and in no event shall Indenture Trustee have any liability for
the representations, warranties, covenants, agreements or other obligations of
the Issuer hereunder or in any of the certificates, notices or agreements
delivered pursuant hereto, as to all of which recourse shall be had solely to
the assets of the Issuer.  For all purposes of this Agreement, in the
performance of any duties or obligations of the Issuer hereunder, the Indenture
Trustee shall be subject to, and entitled to the benefits of, the terms and
provisions of Article VI of the Indenture.

20.  Third-Party Beneficiary.  The Owner Trustee and the Indenture Trustee are
third-party beneficiaries to this Agreement and are entitled to the rights and
benefits hereunder and may enforce the provisions hereof as if they were parties
hereto.

21.  Nonpetition Covenants.  (a)  Notwithstanding any prior termination of
this Agreement, the Seller, the Administrator, the Owner Trustee and the
Indenture Trustee shall not, prior to the date which is one year and one day
after the termination of this Agreement with respect to the Issuer, acquiesce,
petition join in, encourage or otherwise invoke or cause the Issuer to invoke
the process of any court or government authority for the purpose of commencing
or sustaining a case against the Issuer under any federal or state bankruptcy,
insolvency or similar law or appointing a receiver, liquidator, assignee,
trustee, custodian, sequestrator or other similar official of the Issuer or any
substantial part of its property, or ordering the winding up or liquidation of
the affairs of the Issuer.

     (b) Notwithstanding any prior termination of this Agreement, the Issuer,
the Administrator, the Owner Trustee and the Indenture Trustee shall not, prior
to the date which is one year and one day after the termination of this
Agreement with respect to the Seller, acquiesce, petition join in, encourage or
otherwise invoke or cause the Seller to invoke the process of any court or
government authority for the purpose of commencing or sustaining a case against
the Seller under any federal or state bankruptcy, insolvency or similar law or
appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or
other similar official of the

                                                2000-1 Administration Agreement

                                       14
<PAGE>

Seller or any substantial part of their respective property, or ordering the
winding up or liquidation of the affairs of the Seller.

                                                2000-1 Administration Agreement

                                       15
<PAGE>

     IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed and delivered as of the day and year first above written.

                                  AMSOUTH AUTO TRUST 2000-1

                                  By:  THE CHASE MANHATTAN BANK, not in its
                                       individual capacity but solely as Owner
                                       Trustee

                                  By: /s/ Patricia M. Russo
                                     -------------------------------------------
                                        Name: Patricia M. Russo
                                        Title: Vice President

                                  THE BANK OF NEW YORK TRUST COMPANY OF FLORIDA,
                                  NATIONAL ASSOCIATION not in its individual
                                  capacity but solely as Indenture Trustee

                                  By: /s/ Eileen Barat
                                     -------------------------------------------
                                        Name: Eileen Barat
                                        Title: Vice President

                                  AMSOUTH BANK, as Administrator

                                  By: /s/ R. Mark Graf
                                     -------------------------------------------
                                        Name: R. Mark Graf
                                        Title: Senior Vice President

                                                 2000-1 Administration Agreement

                                      S-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}]]