Document:

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                                                                   EXHIBIT 4.4

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                                 TRUST AGREEMENT

                                     between

                           TRIAD FINANCIAL CORPORATION

                                       and

                             [NAME OF OWNER TRUSTEE]
                                  Owner Trustee

                         Dated as of ____________, 20__

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

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                                TABLE OF CONTENTS

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ARTICLE I. DEFINITIONS ...................................................................................1

      SECTION 1.1.      Capitalized Terms.................................................................1
      SECTION 1.2.      Other Definitional Provisions.....................................................2

ARTICLE II. ORGANIZATION..................................................................................3

      SECTION 2.1.      Name..............................................................................3
      SECTION 2.2.      Office............................................................................3
      SECTION 2.3.      Purposes and Powers...............................................................3
      SECTION 2.4.      Appointment of Owner Trustee......................................................6
      SECTION 2.5.      Initial Capital Contribution to the Trust.........................................6
      SECTION 2.6.      Declaration of Trust..............................................................6
      SECTION 2.7.      Title to Owner Trust Estate.......................................................6
      SECTION 2.8.      Situs of Trust....................................................................7
      SECTION 2.9.      Representations and Warranties of the Transferor..................................7
      SECTION 2.10.     Covenants of the Certificateholder................................................9
      SECTION 2.11.     Federal Income Tax Treatment of the Trust.........................................9

ARTICLE III. CERTIFICATES AND TRANSFER OF INTEREST.......................................................10

      SECTION 3.1.      Initial Ownership................................................................10
      SECTION 3.2.      The Certificates.................................................................10
      SECTION 3.3.      Authentication of Certificates...................................................10
      SECTION 3.4.      Registration of Certificates.....................................................10
      SECTION 3.5.      Mutilated, Destroyed, Lost or Stolen Certificates................................11
      SECTION 3.6.      Persons Deemed Certificateholders................................................12
      SECTION 3.7.      Transfer of Certificates.........................................................12
      SECTION 3.8.      Disposition In Whole But Not In Part.............................................14

ARTICLE IV. VOTING RIGHTS AND OTHER ACTIONS..............................................................14

      SECTION 4.1.      Prior Notice to Certificateholder with Respect to Certain Matters................14
      SECTION 4.2.      Action by Certificateholder with Respect to Certain Matters......................15
      SECTION 4.3.      Restrictions on Certificateholder's Power........................................15
      SECTION 4.4.      [Rights of Note Insurer..........................................................15

ARTICLE V. AUTHORITY AND DUTIES OF OWNER TRUSTEE.........................................................16

      SECTION 5.1.      General Authority................................................................16
      SECTION 5.2.      General Duties...................................................................16
      SECTION 5.3.      Action upon Instruction..........................................................16
      SECTION 5.4.      No Duties Except as Specified in this Agreement or in Instructions...............17
      SECTION 5.5.      No Action Except under Specified Documents or Instructions.......................18
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      SECTION 5.6.      Restrictions.....................................................................18

ARTICLE VI. CONCERNING THE OWNER TRUSTEE.................................................................18

      SECTION 6.1.      Acceptance of Trusts and Duties..................................................18
      SECTION 6.2.      Furnishing of Documents..........................................................19
      SECTION 6.3.      Representations and Warranties...................................................19
      SECTION 6.4.      Reliance; Advice of Counsel......................................................20
      SECTION 6.5.      Not Acting in Individual Capacity................................................21
      SECTION 6.6.      Owner Trustee Not Liable for Certificates or Receivables.........................21
      SECTION 6.7.      Owner Trustee May Own Notes......................................................21
      SECTION 6.8.      Payments from Owner Trust Estate.................................................21
      SECTION 6.9.      Doing Business in Other Jurisdictions............................................22

ARTICLE VII. COMPENSATION OF OWNER TRUSTEE...............................................................22

      SECTION 7.1.      Owner Trustee's Fees and Expenses................................................22
      SECTION 7.2.      Indemnification..................................................................22
      SECTION 7.3.      Payments to the Owner Trustee....................................................22
      SECTION 7.4.      Non-recourse Obligations.........................................................22

ARTICLE VIII. TERMINATION OF TRUST AGREEMENT.............................................................23

      SECTION 8.1.      Termination of Trust Agreement...................................................23

ARTICLE IX. SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES.......................................24

      SECTION 9.1.      Eligibility Requirements for Owner Trustee.......................................24
      SECTION 9.2.      Resignation or Removal of Owner Trustee..........................................24
      SECTION 9.3.      Successor Owner Trustee..........................................................25
      SECTION 9.4.      Merger or Consolidation of Owner Trustee.........................................26
      SECTION 9.5.      Appointment of Co-Indenture Trustee or Separate Indenture Trustee................26

ARTICLE X. MISCELLANEOUS.................................................................................27

      SECTION 10.1.     Supplements and Amendments.......................................................27
      SECTION 10.2.     No Legal Title to Owner Trust Estate in Certificateholder........................28
      SECTION 10.3.     Limitations on Rights of Others..................................................28
      SECTION 10.4.     Notices..........................................................................29
      SECTION 10.5.     Severability.....................................................................30
      SECTION 10.6.     Separate Counterparts............................................................30
      SECTION 10.7.     Assignments......................................................................30
      SECTION 10.8.     No Recourse......................................................................30
      SECTION 10.9.     Headings.........................................................................30
      SECTION 10.10.    GOVERNING LAW....................................................................30
      SECTION 10.11.    Servicer.........................................................................30
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      SECTION 10.12.    [Limitation on Liability.........................................................30
      SECTION 10.13.    No Petition......................................................................31
      SECTION 10.14.    Bankruptcy Matters...............................................................31
      SECTION 10.15.    [Effect of Policy Expiration Date................................................31
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EXHIBITS

Exhibit A - Form of Certificate of Trust

Exhibit B - Form of Certificate

Exhibit C - Form of Transferee's Certificate for Qualified Institutional Buyers

Exhibit D - Form of Transferee's Certificate for Institutional Accredited
Investors

Exhibit E - Form of Transferor's Certificate

Exhibit F - Form of ERISA Certificate

Exhibit G - Form of Flow Through Entity Certificate

                                      iii
<PAGE>

        TRUST AGREEMENT dated as of __________, 20__ between TRIAD FINANCIAL
SPECIAL PURPOSE LLC, a Delaware limited liability company (the "Transferor"),
and ______________________, a ___________________, acting hereunder not in its
individual capacity but solely as Owner Trustee (in such capacity, the "Owner
Trustee").

                                   ARTICLE I.

                                   Definitions

        SECTION 1.1. Capitalized Terms. For all purposes of this Agreement, the
following terms shall have the meanings set forth below, terms defined in the
singular shall include the plural:

        "Agreement" shall mean this Trust Agreement, as the same may be amended
and supplemented from time to time.

        "Business Trust Statute" shall mean Chapter 38 of Title 12 of the
Delaware Code, 12 Del. Code Section 3801 et. seq. as the same may be amended
from time to time.

        "Certificate" means a trust certificate evidencing the entire beneficial
interest in the Trust, substantially in the form of Exhibit B attached hereto.

        "Certificate of Trust" shall mean the Certificate of Trust in the form
of Exhibit A to be filed for the Trust pursuant to Section 3810(a) of the
Business Trust Statute.

        "Certificate Register" and "Certificate Registrar" shall mean the
register mentioned and the registrar appointed pursuant to Section 3.4.

        "Certificateholder" or "Holder" shall mean the person in whose name a
Certificate is registered on the Certificate Register.

        "Instructing Party" shall have the meaning assigned to such term in
Section 5.3.

        "Non-Registered Trust Certificate" means a Certificate other than a
Registered Trust Certificate.

        "Owner Trust Estate" shall mean all right, title and interest of the
Trust in and to the property and rights assigned to the Trust pursuant to
Article II of the Sale and Servicing Agreement, all funds on deposit from time
to time in Collection Account or the Note Account and all other property of the
Trust from time to time, including any rights of the Owner Trustee and the Trust
pursuant to the Sale and Servicing Agreement [and the Spread Account Agreement].

        "Registered Trust Certificate" means a Certificate that was sold
pursuant to a registration statement that has been filed and has become
effective under the Securities Act.

        "Secretary of State" means the Secretary of State of the State of
Delaware.

<PAGE>

        "Transferee's Certificate" means a certificate in the form of Exhibits C
or D hereto.

        "Transferor's Certificate" means a certificate in the form of Exhibit E
hereto.

        "Treasury Regulations" means regulations, including proposed or
temporary regulations, promulgated under the Code. References herein to specific
provisions of proposed or temporary regulations shall include analogous
provisions of final Treasury Regulations or other successor Treasury
Regulations.

        "Trust" means the trust established by this Agreement.

        ["___" means [Name of owner trustee], a Delaware banking corporation, in
its individual capacity.]

        SECTION 1.2. Other Definitional Provisions.

        (a) Capitalized terms used herein and not otherwise defined herein have
the meanings assigned to them in Annex A 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 made or delivered pursuant hereto
unless otherwise defined therein.

        (c) As used in this Agreement and in any certificate or other document
made or delivered pursuant hereto or thereto, accounting terms not defined in
this Agreement or in any such certificate or other document, and accounting
terms partly defined in this Agreement or in any such certificate or other
document to the extent not defined, shall have the respective meanings given to
them under generally accepted accounting principles as in effect on the date of
this Agreement or any such certificate or other document, as applicable. To the
extent that the definitions of accounting terms in this Agreement or in any such
certificate or other document are inconsistent with the meanings of such terms
under generally accepted accounting principles, the definitions contained in
this Agreement or in any such certificate or other document shall control.

        (d) The words "hereof," "herein," "hereunder" and words of similar
import when used in this Agreement shall refer to this Agreement as a whole and
not to any particular provision of this Agreement; Section and Exhibit
references contained in this Agreement are references to Sections and Exhibits
in or to this Agreement unless otherwise specified; and the term "including"
shall mean "including without limitation."

        (e) The definitions contained in this Agreement are applicable to the
singular as well as the plural forms of such terms and to the masculine as well
as to the feminine and neuter genders of such terms.

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                                  ARTICLE II.

                                  Organization

        SECTION 2.1. Name. There is hereby formed a trust to be known as "Triad
Auto Receivables Trust 20__-__," in which name the Owner Trustee may conduct the
business of the Trust, make and execute contracts and other instruments on
behalf of the Trust and sue and be sued on behalf of the Trust.

        SECTION 2.2. Office. The principal office of the Trust, and such
additional offices as the Certificateholder may direct the Owner Trustee to
establish, shall be located at such place or places inside or outside the State
of Delaware as the Certificateholder may unanimously designate from time to
time. The Certificateholder hereby designates the office of the Owner Trustee at
_____________, ________________________, ___________, _____________ _________,
Attention: ________________ as the principal office of the Trust.

        SECTION 2.3. Purposes and Powers. The Trust and the parties to this
Agreement shall be subject to the following provisions regarding the purposes,
powers and procedures of the Trust:

        (a) The purpose of the Trust is to engage solely in the following
activities:

                (i) to acquire the Owner Trust Estate pursuant to Article II of
        the Sale and Servicing Agreement;

                (ii) to issue the Notes pursuant to the Indenture and the
        Certificates pursuant to this Agreement, to sell and exchange the Notes
        and to transfer the Certificate to the Transferor and to pay interest on
        and principal of the Notes and distributions on the Certificates;

                (iii) with the proceeds of the sale of the Notes, [to fund the
        Spread Account, and] to pay the balance to the Transferor pursuant to
        the Sale and Servicing Agreement;

                (iv) to assign, grant, transfer, pledge, mortgage and convey the
        Pledged Property to the Indenture Trustee pursuant to the Indenture for
        the benefit of [the Note Insurer and] the Noteholders and to hold,
        manage and distribute to the Certificateholder pursuant to the terms of
        the Sale and Servicing Agreement [and the Spread Account Agreement] any
        portion of the Pledged Property released from the Lien of the Indenture;

                (v) to enter into and perform its obligations under the Basic
        Documents to which it is a party;

                (vi) to engage in those activities, including entering into
        agreements, that are necessary, suitable or convenient to accomplish the
        foregoing or are incidental thereto or connected therewith; and

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                (vii) subject to compliance with the Basic Documents, to engage
        in such other activities as may be required in connection with
        conservation of the Owner Trust Estate and the making of distributions
        to the Certificateholder and the Noteholders.

The Trust is hereby authorized to engage in the foregoing activities. The Trust
shall not engage in any activity other than in connection with the foregoing or
other than as required or authorized by the terms of this Agreement or the Basic
Documents.

        (b) The Trust's only assets shall be the Owner Trust Estate. Other than
the Notes, the Trust shall not secure any indebtedness with any of the Owner
Trust Estate.

        (c) Other than with respect to the transfer to the Trust of the Trust
Assets, the Trust shall not do any of the following: acquire any obligations of,
make loans or advances to, borrow funds from, assume or guarantee the
obligations or liabilities of, have its obligations or liabilities guaranteed
by, or hold itself out as responsible for the debts and obligations of the Owner
Trustee, the Certificateholder, TRIAD CORP., the Indenture Trustee or any other
person or entity.

        (d) The Owner Trustee shall not manage, control, use, sell, dispose of
or otherwise deal with any part of the Owner Trust Estate except in accordance
with the specific limitations set forth in this Agreement and the other Basic
Documents to which the Trust is a party.

        (e) The Trust shall, in all dealings with the public, identify itself
under the name of the Trust and as a separate and distinct entity from any other
Person or entity. All transactions and agreements between the Trust and third
parties shall be conducted in the name of the Trust as an entity separate and
independent from the Owner Trustee, the Indenture Trustee, the Transferor, Triad
Corp., and the Certificateholder.

        (f) All transactions and agreements between the Trust, on the one hand,
and any of the Owner Trustee, the Indenture Trustee, the Trust Collateral Agent,
the Custodian, the Transferor, Triad Corp., and the Certificateholder, on the
other hand, shall reflect the separate legal existence of each entity and will
be formally documented in writing. The pricing and other material terms of all
such transactions and agreements shall be on terms substantially similar to
those that would be available on an arm's-length basis with unaffiliated third
parties.

        (g) The Trust shall not commingle its funds and other assets with those
of any other Person or business entity and shall maintain its assets and
liabilities in such a manner that it shall not be costly or difficult to
segregate, ascertain or identify its individual assets and liabilities from
those of any other person or entity. The Owner Trustee shall hold the Owner
Trust Estate on behalf of the Trust.

        (h) The Trust shall pay its liabilities and losses as they become due
from the Owner Trust Estate, provided, however, that none of the Owner Trust
Estate shall be used to pay the liabilities (including liability in respect of
guaranties) and losses of the Transferor, TRIAD CORP., the Indenture Trustee,
the Trust Collateral Agent, the Custodian or the Certificateholder. The Trust
has been structured to maintain capital in an amount reasonably sufficient to
meet the anticipated needs of the Trust.

                                       4
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        (i) The Trust shall not share any of the same officers or other
employees with the Servicer, the Transferor, TRIAD CORP., the Indenture Trustee,
the Trust Collateral Agent, the Custodian or the Certificateholder.

        (j) The Trust shall not, jointly with the Servicer, the Transferor,
TRIAD CORP., the Indenture Trustee, the Trust Collateral Agent, the Custodian or
the Certificateholder contract or do business with vendors or service providers
or share overhead expenses.

        (k) The Trust shall maintain its own bank accounts, books and records
and annual financial statements prepared in accordance with generally accepted
accounting principles, separate from those of the Owner Trustee, the Indenture
Trustee, the Trust Collateral Agent, the Custodian, the Transferor, Triad Corp.,
and the Certificateholder. The foregoing will reflect that the assets and
liabilities of and all transactions and transfers of funds involving the Trust
shall be separate from those of each such other entity, and the Trust shall pay
or bear the cost of the preparation of its own financial statements and shall
not pay or bear the cost of the preparation of the financial statements of any
such other entity. Neither the accounting records nor the financial statements
of the Trust will indicate that the Owner Trust Estate is available to pay
creditors of the Owner Trustee, the Indenture Trustee, the Trust Collateral
Agent, the Custodian, the Transferor, Triad Corp., or the Certificateholder or
any other person or entity.

        (l) The Owner Trustee shall not have the power to commence a voluntary
proceeding in bankruptcy relating to the Trust without the prior approval of the
Certificateholder and the Transferor and the delivery to the Owner Trustee by
each of the Certificateholder and the Transferor of a certificate stating that
such entity reasonably believes that the Trust is insolvent.

        (m) Each of the Owner Trustee and the Transferor covenants and agrees
that it will not at any time institute against any Certificateholder, or join in
any institution against any Certificateholder of any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceeding or other proceeding under any
United States of America federal or state bankruptcy or similar law in
connection with any obligations relating to the Certificates or this Agreement.
The Owner Trustee and the Transferor each covenants and agrees that it will not,
in any capacity, seek the substantive consolidation of the assets of the Trust
with any Certificateholder.

        (n) The Certificates cannot be transferred other than pursuant to
Section 3.7.

        (o) The Owner Trustee may, pursuant to Section 5.2 of this Agreement,
delegate certain administrative duties relating to the Trust to specified
entities (other than the Certificateholder), which will be authorized to prepare
on behalf of the Trust all documents, reports, filings, instruments,
certificates and opinions as it shall be the duty of the Trust to prepare, file
and deliver. However, the Owner Trustee may not delegate any such administrative
duties to the Certificateholder, and the Certificateholder may not perform any
of the Trust's duties or obligations.

        (p) The Certificates shall entitle the Certificateholder only to the
benefits and distributions as are expressly set forth in this Agreement.

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        (q) The Trust and this Agreement may not be revoked or terminated except
in accordance with Section 8.1 of this Agreement and in no event shall the
Certificateholder have the ability to terminate the Trust unilaterally.

        (r) The Trust shall not consensually merge or consolidate with any of
the Owner Trustee, the Transferor, Triad Corp., or the Certificateholder.

        (s) Neither the Transferor nor the Certificateholder shall request or
instruct the Owner Trustee to take or refrain from taking any action if such
action or inaction would be contrary to any obligation of the Trust or the Owner
Trustee under this Agreement or contrary to the limited purposes of the Trust,
and the Owner Trustee shall be under no obligation to comply with any such
request or instruction if given.

        SECTION 2.4. Appointment of Owner Trustee. The Transferor hereby
appoints the Owner Trustee as trustee of the Trust effective as of the date
hereof, to have all the rights, powers and duties set forth herein.

        SECTION 2.5. Initial Capital Contribution to the Trust. The Transferor
hereby sells, assigns, transfers, conveys and sets over to the Owner Trustee, as
of the date hereof, the sum of $1. The Owner Trustee hereby acknowledges receipt
in trust from the Transferor, as of the date hereof, of the foregoing
contribution, which shall constitute the initial property of the Trust. The
Transferor shall pay organizational expenses of the Trust as they may arise.

        SECTION 2.6. Declaration of Trust. The Owner Trustee hereby declares
that it will hold the Owner Trust Estate in trust upon and subject to the
conditions set forth herein for the use and benefit of the Certificateholder,
subject to the obligations of the Trust under the Basic Documents. It is the
intention of the parties hereto that the Trust constitute a business trust under
the Business Trust Statute and that this Agreement constitute the governing
instrument of such business trust. Effective as of the date hereof, the Owner
Trustee shall have all rights, powers and duties set forth herein and to the
extent not inconsistent herewith, in the Business Trust Statute with respect to
accomplishing the purposes of the Trust. The Owner Trustee shall file the
Certificate of Trust with the Secretary of State.

        The Certificateholder shall not have any personal liability for any
liability or obligation of the Trust.

        SECTION 2.7. Title to Owner Trust Estate

        (a) Legal title to all the Owner Trust Estate shall be vested at all
times in the Trust as a separate legal entity except where applicable law in any
jurisdiction requires title to any part of the Owner Trust Estate to be vested
in a trustee or trustees, in which case title shall be deemed to be vested in
the Owner Trustee, a co-trustee and/or a separate trustee, as the case may be.

        (b) The Certificateholder shall not have legal title to any part of the
Owner Trust Estate. The Certificateholder shall be entitled to receive
distributions with respect to its undivided ownership interest therein only in
accordance with the Sale and Servicing Agreement and the Spread Account
Agreement. No transfer, by operation of law or otherwise, of any right,

                                       6
<PAGE>

title or interest by the Certificateholder of its ownership interest in the
Owner Trust Estate shall operate to terminate this Agreement or the trusts
hereunder or entitle any transferee to an accounting or to the transfer to it of
legal title to any part of the Owner Trust Estate.

        SECTION 2.8. Situs of Trust. The Trust shall be administered in the
State of Delaware.

        SECTION 2.9. Representations and Warranties of the Transferor. The
Transferor makes the following representations and warranties on which the Owner
Trustee relies in accepting the Trust Assets in trust and issuing the
Certificates [and upon which the Note Insurer relies in issuing the Note
Policy]:

                (a) Organization and Good Standing. The Transferor is duly
        organized and validly existing as a Delaware corporation with power and
        authority to own its properties and to conduct its business as such
        properties are currently owned and such business is presently conducted
        and is proposed to be conducted pursuant to this Agreement and the Basic
        Documents to which it is a party.

                (b) Due Qualification. The Transferor is duly qualified to do
        business as a foreign corporation in good standing, and has obtained all
        necessary licenses and approvals, in all jurisdictions in which the
        ownership or lease of its property, the conduct of its business and the
        performance of its obligations under this Agreement and the Basic
        Documents to which it is a party requires such qualification.

                (c) Power; Authority; Execution; Enforceability. The Transferor
        has the corporate power and authority to execute and deliver this
        Agreement and to carry out its terms; the Transferor has full power and
        authority to sell and assign the property to be conveyed and assigned to
        and deposited with the Trust and the Transferor has duly authorized such
        conveyance and assignment and deposit to the Trust by all necessary
        corporate action; and the execution, delivery and performance of this
        Agreement and the other Basic Documents to which it is a party has been
        duly authorized by the Transferor by all necessary corporate action. The
        Transferor has duly executed this Agreement and the other Basic
        Documents to which it is a party, and this Agreement and the other Basic
        Documents to which it is a party constitute the legal, valid and binding
        obligations of the Transferor, enforceable against the Transferor in
        accordance with their terms.

                (d) No Consent Required. No consent, license, approval or
        authorization or registration or declaration with, any Person or with
        any governmental authority, bureau or agency is required to be obtained
        by the Transferor in connection with the execution, delivery or
        performance of this Agreement and the Basic Documents to which the
        Transferor is a party, except for such as have been obtained, effected
        or made.

                (e) No Violation. The consummation of the transactions
        contemplated by this Agreement and the other Basic Documents and the
        fulfillment of the terms hereof and thereof do not conflict with, result
        in any breach of any of the terms and provisions of, or constitute (with
        or without notice or lapse of time) a default under, the certificate of

                                       7
<PAGE>

        incorporation or by-laws of the Transferor, or any indenture, agreement
        or other instrument to which the Transferor is a party or by which it is
        bound; nor result in the creation or imposition of any Lien upon any of
        its properties pursuant to the terms of any such indenture, agreement or
        other instrument (other than pursuant to the Basic Documents); nor
        violate any law or, to the best of the Transferor's knowledge, any
        order, rule or regulation applicable to the Transferor of any court or
        of any Federal or state regulatory body, administrative agency or other
        governmental instrumentality having jurisdiction over the Transferor or
        its properties.

                (f) No Proceedings. There are no proceedings or investigations
        pending or, to its knowledge threatened against it before any court,
        regulatory body, administrative agency or other tribunal or governmental
        instrumentality having jurisdiction over it or its properties (A)
        asserting the invalidity of this Agreement or any of the Basic Documents
        to which the Transferor is a party, (B) seeking to prevent the issuance
        of the Certificates or the Notes or the consummation of any of the
        transactions contemplated by this Agreement or any of the Basic
        Documents to which the Transferor is a party, (C) seeking any
        determination or ruling that might materially and adversely affect its
        performance of its obligations under, or the validity or enforceability
        of, this Agreement or any of the Basic Documents to which the Transferor
        is a party, or (D) seeking to adversely affect the federal income tax or
        other federal, state or local tax attributes of the Notes or the
        Certificates.

                (g) No Liens. Upon the conveyance, assignment or other transfer
        of any of the Trust Assets by the Transferor to the Trust pursuant to
        the Sale and Servicing Agreement, the Transferor will have conveyed to
        the Trust good title, free and clear of any lien, encumbrance or other
        interests of others (including without limitation, any claim of any
        creditor of the Transferor or any of its Affiliates) of any nature and
        the Trust will have the right to Grant and deliver the Pledged Property
        to the Indenture Trustee in accordance with the Indenture and upon the
        Grant and delivery of the Pledged Property by the Trust to the Indenture
        Trustee in the manner contemplated by the Indenture, and assuming the
        validity and binding effect of the Indenture, the Indenture Trustee will
        have obtained a valid first priority security interest therein, prior to
        all liens.

                (h) Records. Immediately upon the sale or other delivery of any
        Trust Assets to the Trust pursuant to the Sale and Servicing Agreement,
        the Transferor will make any appropriate notations on its records to
        indicate that the Trust Assets have been transferred to the Trust
        pursuant to the Sale and Servicing Agreement and, to the extent it
        constitutes Pledged Property, has been pledged by the Trust to the
        Indenture Trustee to secure payment of the Notes.

                (i) No Bankruptcy Petition. The Transferor has no present intent
        to cause a voluntary bankruptcy of the Trust.

                (j) Separate Entity. The Transferor will hold itself out to the
        public under its own name as a separate and distinct entity and conduct
        its business so as not to mislead others as to the identity of the
        entity under which those others are concerned. Without limiting the
        generality of the foregoing, all oral and written communications,

                                       8
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        including without limitation, all letters, invoices, contracts,
        statements and applications will be made solely in the name of the Trust
        if they are made on behalf of the Trust and solely in the name of the
        Transferor if they are made on behalf of the Transferor.

                (k) Financial Statements. The Transferor will disclose in all
        financial statements that the assets of the Trust are not available to
        the Transferor's creditors.

        SECTION 2.10. Covenants of the Certificateholder. The Certificateholder,
by its acceptance of a Certificate, agrees:

        (a) to be bound by the terms and conditions of the Certificates of which
the Certificateholder is the beneficial owner and of this Agreement and the
other Basic Documents, including any supplements or amendments hereto and
thereto and to perform the obligations of a Certificateholder as set forth
therein or herein, in all respects as if it were a signatory hereto. This
undertaking is made for the benefit of the Trust, the Owner Trustee [and the
Note Insurer]; and

        (b) until one year and one day after the completion of the events
specified in Section 8.1(d), not to, for any reason, institute proceedings for
the Trust to be adjudicated a bankrupt or insolvent, or consent to the
institution of bankruptcy or insolvency proceedings against the Trust, or file a
petition seeking or consenting to reorganization or relief under any applicable
federal or state law relating to bankruptcy, or consent to the appointment of a
receiver, liquidator, assignee, trustee, sequestrator (or other similar
official) of the Trust or a substantial part of its property, or cause or permit
the Trust to make any assignment for the benefit of its creditors, or admit in
writing its inability to pay its debts generally as they become due, or declare
or effect a moratorium on its debt or take any action in furtherance of any such
action.

        SECTION 2.11. Federal Income Tax Treatment of the Trust.

        (a) For so long as the Trust has a single owner for federal income tax
purposes, it will, pursuant to Treasury Regulations promulgated under section
7701 of the Code, be disregarded as an entity distinct from the
Certificateholder for all federal income tax purposes. Accordingly, for federal
income tax purposes, the Certificateholder will be treated as (i) owning all
assets owned by the Trust, (ii) having incurred all liabilities incurred by the
Trust, and (iii) all transactions between the Trust and the Certificateholder
will be disregarded. The parties agree that, unless otherwise required by
appropriate tax authorities, the Trust will file or cause to be filed annual or
other necessary returns, reports and other forms consistent with the foregoing
characterization.

        (b) In the event that the Trust has two or more equity owners for
federal income tax purposes, the Trust will be treated as a partnership. At any
such time that the Trust has two equity owners, this Agreement will be amended,
in accordance with Section 10.1 herein, and appropriate provisions will be added
so as to provide for treatment of the Trust as a partnership. In no event,
however, will the Trust engage in any activity which would cause the Trust to
become an association or publicly traded partnership, taxable as a corporation
for Federal income tax purposes.

                                       9
<PAGE>

        (c) Neither the Owner Trustee nor any Certificateholder will, under any
circumstances, and at any time, make an election on IRS From 8832 or otherwise,
to classify the Trust as an association taxable as a corporation for federal,
state or any other applicable tax purpose.

                                  ARTICLE III.

                      Certificates and Transfer of Interest

        SECTION 3.1. Initial Ownership. Upon the formation of the Trust by the
contribution by the Transferor pursuant to Section 2.5 and until the issuance of
the Certificates, the Transferor shall be the sole beneficiary of the Trust.

        SECTION 3.2. The Certificates. The Certificates shall be executed on
behalf of the Trust by manual or facsimile signature of an authorized officer of
the Owner Trustee. A Certificate bearing the manual or facsimile signatures of
individuals who were, at the time when such signatures shall have been affixed,
authorized to sign on behalf of the Trust, shall be validly issued and entitled
to the benefit of this Agreement, notwithstanding that such individuals or any
of them shall have ceased to be so authorized prior to the authentication and
delivery of such Certificate or did not hold such offices at the date of
authentication and delivery of such Certificate. A transferee of a Certificate
shall become a Certificateholder, and shall be entitled to the rights and
subject to the obligations of a Certificateholder hereunder, upon due
registration of such Certificate in such transferee's name pursuant to Section
3.4.

        SECTION 3.3. Authentication of Certificates. Concurrently with the
conveyance of the Receivables to the Trust pursuant to the Sale and Servicing
Agreement, the Owner Trustee shall cause the Certificates to be executed on
behalf of the Trust, authenticated and delivered to or upon the written order of
the Transferor, signed by its chairman of the board, its president or any vice
president, its treasurer or any assistant treasurer without further corporate
action by the Transferor, in authorized denominations. No Certificate shall
entitle its holder to any benefit under this Agreement, or shall be valid for
any purpose, unless there shall appear on such Certificate a certificate of
authentication substantially in the form set forth in EXHIBIT B, executed by the
Owner Trustee or [___] as the Owner Trustee's authentication agent, by manual
signature; such authentication shall constitute conclusive evidence that such
Certificate shall have been duly authenticated and delivered hereunder. Each
Certificate shall be dated the date of its authentication.

        SECTION 3.4. Registration of Certificates

        (a) The Certificate Registrar shall keep or cause to be kept, at the
office or agency maintained pursuant to Section 2.2, a Certificate Register in
which, subject to such reasonable regulations as it may prescribe, the Owner
Trustee shall provide for the registration of the Certificates and of transfers
and exchanges of the Certificates as herein provided. The Owner Trustee shall be
the initial Certificate Registrar.

        (b) The Certificate Registrar shall provide the Trust Collateral Agent
with the name and address of the Certificateholder on the Closing Date. Upon any
transfer of a

                                       10
<PAGE>

Certificate, the Certificate Registrar shall notify the Trust Collateral Agent
of the name and address of the transferee in writing, by facsimile, on the day
of such transfer.

        (c) Upon surrender for registration of transfer of a Certificate at the
office or agency maintained pursuant to Section 2.2, the Owner Trustee shall
execute, authenticate and deliver (or shall cause the Owner Trustee as its
authenticating agent to authenticate and deliver), in the name of the designated
transferee, a new Certificate dated the date of authentication by the Owner
Trustee or any authenticating agent.

        (d) A Certificate presented or surrendered for registration of transfer
or exchange shall be accompanied by a written instrument of transfer in form
satisfactory to the Owner Trustee and the Certificate Registrar duly executed by
the Certificateholder or his attorney duly authorized in writing, with such
signature guaranteed by an "eligible guarantor institution" meeting the
requirements of the Certificate Registrar, which requirements include membership
or participation in the Securities Transfer Agent's Medallion Program ("STAMP")
or such other "signature guarantee program" as may be determined by the
Certificate Registrar in addition to, or in substitution for, STAMP, all in
accordance with the Exchange Act. Each Certificate surrendered for registration
of transfer or exchange shall be canceled and subsequently disposed of by the
Owner Trustee in accordance with its customary practice.

        (e) No service charge shall be made for any registration of transfer or
exchange of a Certificate, but the Owner Trustee or the Certificate Registrar
may require payment of a sum sufficient to cover any tax or governmental charge
that may be imposed in connection with any transfer or exchange of such
Certificate.

        (f) [In furtherance of and in limitation of the foregoing, the
Certificateholder, by acceptance of its Certificate, specifically acknowledges
that it has no right to or interest in any monies at any time held pursuant to
the Spread Account Agreement prior to the release of such monies pursuant to
Section 5.6(d) of the Sale and Servicing Agreement, such monies being held in
trust for the benefit of the Noteholders and the Note Insurer. Notwithstanding
the foregoing, in the event that it is ever determined that provisions of the
Sale and Servicing Agreement and the Spread Account Agreement shall be
considered to constitute a security agreement and the Transferor and the
Certificateholder hereby grant to the Collateral Agent for the benefit of the
Noteholders and the Note Insurer a first priority perfected security interest in
such amounts, to be applied as set forth in Section 3.03 of the Spread Account
Agreement. In addition the Certificateholder, by acceptance of its Certificate,
hereby appoints the Transferor as its agent to pledge a first priority perfected
security interest in the Spread Account, and any amounts held therein from time
to time to the Collateral Agent pursuant to the Spread Account Agreement and
agrees to execute and deliver such instruments of conveyance, assignment, grant
and confirmation, as well as financing statements, in each case as [the Note
Insurer] shall consider reasonably necessary in order to perfect the Collateral
Agent's Security Interest in the Collateral (as such terms are defined in the
Spread Account Agreement).]

        SECTION 3.5. Mutilated, Destroyed, Lost or Stolen Certificates. If (a)
any mutilated Certificate shall be surrendered to the Certificate Registrar, or
if the Certificate Registrar shall receive evidence to its satisfaction of the
destruction, loss or theft of any Certificate and (b) there shall be delivered
to the Certificate Registrar, the Owner Trustee [and

                                       11
<PAGE>

(unless a Note Insurer Default shall have occurred and be continuing) the Note
Insurer,] such security or indemnity as may be required by them to save each of
them harmless, then in the absence of notice that such Certificate shall have
been acquired by a bona fide purchaser, the Owner Trustee on behalf of the Trust
shall execute and the Owner Trustee, or [___], as the Owner Trustee's
authenticating agent, shall authenticate and deliver, in exchange for or in lieu
of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate
of like class, tenor and denomination. In connection with the issuance of any
new Certificate under this Section, the Owner Trustee or the Certificate
Registrar may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection therewith. Any duplicate
Certificate issued pursuant to this Section shall constitute conclusive evidence
of an ownership interest in the Trust, as if originally issued, whether or not
the lost, stolen or destroyed Certificate shall be found at any time.

        SECTION 3.6. Persons Deemed Certificateholders. Every Person by virtue
of becoming a Certificateholder in accordance with this Agreement shall be
deemed to be bound by the terms of this Agreement. Prior to due presentation of
a Certificate for registration of transfer, the Owner Trustee, the Certificate
Registrar [and the Note Insurer] and any agent of the Owner Trustee, the
Certificate Registrar [and the Note Insurer,] may treat the person in whose name
any Certificate shall be registered in the Certificate Register as the owner of
such Certificate for the purpose of receiving distributions pursuant to the Sale
and Servicing Agreement and the Spread Account Agreement and for all other
purposes whatsoever, and none of the Owner Trustee, the Certificate Registrar
[or the Note Insurer] nor any agent of the Owner Trustee, the Certificate
Registrar [or the Note Insurer] shall be bound by any notice to the contrary.

        SECTION 3.7. Transfer of Certificates.

        (a) No transfer of a Certificate shall be made unless (I) such transfer
(x) is made pursuant to an effective registration statement under the Securities
Act and any applicable state securities laws or (y) is exempt from the
registration requirements under the Securities Act and such state securities
laws and (II) such transfer is to a Person that satisfies the requirements of
paragraph (a)(2)(i) or (a)(2)(ii) of Rule 3a-7 as then in effect or any
successor rule ("Rule 3a-7") under the Investment Company Act.

        (b) Each prospective purchaser of a Non-Registered Certificate not held
in book-entry form shall deliver a completed and duly executed Transferee's
Certificate (in the form of EXHIBIT C hereto for "qualified institutional
buyers" as defined in Rule 144A of the Securities Act ("Rule 144A") or EXHIBIT D
hereto for "accredited investors" as defined in Rule 501(a)(1), (2), (3) or (7)
of Regulation D promulgated under the Securities Act) to the Owner Trustee and
to the Transferor for inspection prior to effecting any requested transfer. Each
prospective seller of a Non-Registered Certificate (other than with respect to
the initial transfer of any such Certificate by the Transferor shall deliver a
completed and duly executed Transferor's Certificate (in the form of EXHIBIT E
hereto) to the Owner Trustee for inspection prior to effecting any requested
transfer. The Transferor and the Owner Trustee may conclusively rely upon the
information contained in any such Transferee's Certificate or Transferor's
Certificate in the absence of actual knowledge to the contrary.

                                       12
<PAGE>

        (c) In connection with any transfer, the Owner Trustee may (except in
the case of (x) the initial transfer of any such Certificate by the Transferor,
(y) a transfer to a "qualified institutional buyer" who delivers a Transferee's
Certificate in the form of Exhibit C hereto, or (z) a transfer to a "accredited
investor" who delivers a Transferee's Certificate in the form of Exhibit D
hereto) require an opinion of counsel satisfactory to the Owner Trustee and the
Transferor to the effect that such transfer may be effected without registration
under the Securities Act, which opinion of counsel, if so required, shall be
addressed to the Transferor and the Owner Trustee and shall be secured at the
expense of the holder of a Certificate. The Owner Trustee may conclusively rely
upon the representation of any purchaser made to the Owner Trustee, and upon
such opinion of counsel, and shall be fully protected in so doing.

        (d) No transfer of a Certificate shall be made to any Person unless the
Owner Trustee has received a certificate (substantially in the form of EXHIBIT F
hereto) from such transferee to the effect that such transferee is not a Plan,
and is not acting on behalf of or investing the assets of a Plan. The
preparation and delivery of the certificate referred to above shall not be an
expense of the Trust, the Owner Trustee or the Transferor but shall be borne by
the transferee. Each transferee of a beneficial ownership interest in a
book-entry Certificate shall be deemed to represent that it is not a Plan and is
not acting on behalf of or investing the assets of a Plan.

        (e) No transfer of a Certificate shall be made to any Person unless the
Owner Trustee and Transferor have received a certificate (substantially in the
form of Exhibit G hereto) from such transferee to the effect that (i) such
transferee is acquiring such certificate for its own behalf and is not acting as
agent or custodian for any other Person or entity in connection with such
acquisition, (ii) if the transferee is a partnership, grantor trust or S
corporation for federal income tax purposes (a "Flow Through Entity"), any
certificate (and interest in the Trust in the aggregate) owned by such Flow
Through Entity will represent less than 50% of the value of the assets owned by
such Flow Through Entity and no special allocation of income, gain, loss,
deduction or credit from such certificate will be made among the beneficial
owners of such Flow Through Entity, and (iii) the transferee is a United States
Person within the meaning of the Code.

        (f) No transfer, pledge or encumbrance of the Certificate shall be made
to any Person unless (A) such Person is a Rated Entity, a Bankruptcy Remote
Entity or a business trust established under Chapter 38 of Title 12 of the
Delaware Code, 12 Del. C. Section 3801 et seq. that is a Bankruptcy Remote
Entity, or (B) such pledge is made to GCFP pursuant to the Credit and Security
Agreement; provided, however, that in the event GCFP forecloses on its security
interest in the Certificate, the Certificate may be registered in the name of a
Person that is not a Bankruptcy Remote Entity for a period not to exceed two (2)
Business Days. The Certificate shall at all times be registered in the name of a
single holder.

        (g) The Certificates shall bear legends stating that they have not been
registered under the Securities Act and are subject to the restrictions on
transfer described herein. By purchasing a Certificate, each purchaser shall be
deemed to have agreed to these restrictions on transfer.

        (h) In order to preserve the exemption for resales and transfers
provided by Rule 144A, the Transferor shall provide to any Holder of a
Non-Registered Certificate and any

                                       13
<PAGE>

prospective purchaser designated by such Holder, upon request of such Holder or
such prospective purchaser, such information required by Rule 144A as will
enable the resale of such Non-Registered Certificate to be made pursuant to Rule
144A. The Owner Trustee shall cooperate with the Transferor in providing the
Transferor such information regarding the Non-Registered Certificates, the Trust
Assets and other matters regarding the Trust as the Transferor shall reasonably
request to meet its obligations under the preceding sentence.

        (i) Notwithstanding any provision of this Agreement to the contrary, any
transfer of Certificates that causes the total number of beneficial owners of
Certificates to exceed ninety-nine (99) shall be null and void and the
Certificate Register shall be amended to reflect such voided transfer.

        SECTION 3.8. Disposition In Whole But Not In Part. A Certificate may be
transferred in whole but not in part. Any attempted transfer of the Certificate
that would divide the beneficial ownership in the Trust shall be void.

                                   ARTICLE IV.

                         Voting Rights and Other Actions

        SECTION 4.1. Prior Notice to Certificateholder with Respect to Certain
Matters. With respect to the following matters, the Owner Trustee shall not take
action unless at least thirty (30) days before the taking of such action, the
Owner Trustee shall have notified the Certificateholder [and the Note Insurer]
in writing of the proposed action and the Certificateholder shall not have
notified the Owner Trustee in writing prior to the 30th day after such notice is
given that the Certificateholder has withheld consent or provided alternative
direction:

        (a) the election by the Trust to file an amendment to the Certificate of
Trust (unless such amendment is required to be filed under the Business Trust
Statute or unless such amendment would not materially and adversely affect the
interests of the Certificateholder);

        (b) the amendment of the Indenture by a supplemental indenture in
circumstances where the consent of any Noteholder is required;

        (c) the amendment of the Indenture by a supplemental indenture in
circumstances where the consent of any Noteholder is not required and such
amendment materially adversely affects the interest of the Certificateholder; or

        (d) except pursuant to Section 13.1 of the Sale and Servicing Agreement,
the amendment, change or modification of the Sale and Servicing Agreement,
except to cure any ambiguity or defect or to amend or supplement any provision
in a manner that would not materially adversely affect the interests of the
Certificateholder.

        The Owner Trustee shall notify the Certificateholder in writing of any
appointment of a successor Note Registrar or Trust Collateral Agent within five
Business Days after receipt of notice thereof.

                                       14
<PAGE>

        SECTION 4.2. Action by Certificateholder with Respect to Certain
Matters. The Owner Trustee shall not have the power, except upon the direction
of the Controlling Party or, after the Notes and Reimbursement Obligations have
been paid and full and the expiration of the Note Policy in accordance with its
terms, the Certificateholder in accordance with the Basic Documents, to (a)
remove the Servicer under the Sale and Servicing Agreement pursuant to Section
9.1 thereof or (b) except as expressly provided in the Basic Documents, sell the
Receivables after the termination of the Indenture. The Owner Trustee shall take
the actions referred to in the preceding sentence only upon written instructions
signed by the Controlling Party or the Certificateholder, as applicable and the
furnishing of indemnification satisfactory to the Owner Trustee by the
Certificateholder. To the fullest extent permitted by applicable law, the Owner
Trustee shall not have the power to, and shall not, commence any proceeding or
other actions contemplated by Section 2.10 (b).

        SECTION 4.3. Restrictions on Certificateholder's Power.

        (a) The Certificateholder shall not direct the Owner Trustee to take or
refrain from taking any action if such action or inaction would be contrary to
any obligation of the Trust or the Owner Trustee under this Agreement or any of
the Basic Documents or would be contrary to Section 2.3 nor shall the Owner
Trustee be obligated to follow any such direction, if given.

        (b) The Certificateholder shall not have any right by virtue or by
availing itself of any provisions of this Agreement to institute any suit,
action, or proceeding in equity or at law upon or under or with respect to this
Agreement or any Basic Document, unless the Certificateholder is the Instructing
Party pursuant to Section 5.3 and unless the Certificateholder previously shall
have given to the Owner Trustee a written notice of default and of the
continuance thereof, as provided in this Agreement, and also unless
Certificateholder shall have made written request upon the Owner Trustee to
institute such action, suit or proceeding in its own name as Owner Trustee under
this Agreement and shall have offered to the Owner Trustee such reasonable
indemnity as it may require against the costs, expenses and liabilities to be
incurred therein or thereby, and the Owner Trustee, for thirty (30) days after
its receipt of such notice, request, and offer of indemnity, shall have
neglected or refused to institute any such action, suit, or proceeding, and
during such 30-day period no request or waiver inconsistent with such written
request has been given to the Owner Trustee pursuant to and in compliance with
this Section or Section 5.3. For the protection and enforcement of the
provisions of this Section, the Certificateholder and the Owner Trustee shall be
entitled to such relief as can be given either at law or in equity.

        SECTION 4.4. [Rights of Note Insurer. Notwithstanding anything to the
contrary in the Basic Documents, without the prior written consent of the Note
Insurer (so long as no Note Insurer Default shall have occurred and be
continuing), the Owner Trustee shall not (i) remove the Servicer, (ii) initiate
any claim, suit or proceeding by the Trust or compromise any claim, suit or
proceeding brought by or against the Trust, other than with respect to the
enforcement of any Receivable or any rights of the Trust thereunder, (iii)
authorize the merger or consolidation of the Trust with or into any other
business trust or other entity (other than in accordance with Section 3.10 of
the Indenture) or (iv) amend the Certificate of Trust (except as may be required
by the Business Trust Statute).]

                                       15
<PAGE>

                                   ARTICLE V.

                     Authority and Duties of Owner Trustee

        SECTION 5.1. General Authority.

        (a) The Owner Trustee is authorized and directed to execute and deliver
the Basic Documents to which the Trust is named as a party and each certificate
or other document attached as an exhibit to or contemplated by the Basic
Documents to which the Trust is named as a party and any amendment thereto, in
each case, in such form as the Transferor shall approve as evidenced
conclusively by the Owner Trustee's execution thereof, and on behalf of the
Trust, to direct the Indenture Trustee to authenticate and deliver the Class A
Notes in the aggregate principal amount of $__________. In addition to the
foregoing, the Owner Trustee is authorized, but shall not be obligated, to take
all actions required of the Trust pursuant to the Basic Documents. The Owner
Trustee is further authorized from time to time to take such action as the
Instructing Party recommends with respect to the Basic Documents so long as such
activities are consistent with the terms of the Basic Documents.

        (b) The Owner Trustee shall sign on behalf of the Trust any applicable
tax returns of the Trust, unless applicable law requires a Certificateholder to
sign such documents.

        SECTION 5.2. General Duties. It shall be the duty of the Owner Trustee:

        (i) to discharge (or cause to be discharged) all of its responsibilities
    pursuant to the terms of this Agreement and to administer the Trust in the
    interest of the Certificateholder, subject to the Basic Documents and in
    accordance with the provisions of this Agreement; and

        (ii) to execute on behalf of the Trust any license, approval,
    authorization or registration required by any governmental authority, bureau
    or agency, as notified by the Servicer and presented to the Owner Trustee in
    final execution form, with respect to which the failure to maintain any such
    license, approval, authorization or registration would have an adverse
    effect on the validity and enforceability of the Indenture, the Notes or the
    Owner Trust Estate.

        Notwithstanding the foregoing, the Owner Trustee shall be deemed to have
discharged its duties and responsibilities hereunder and under the Basic
Documents to the extent the Servicer has agreed in the Sale and Servicing
Agreement to perform any act or to discharge any duty of the Trust or the Owner
Trustee hereunder or under any Basic Document, and the Owner Trustee shall not
be liable for the default or failure of the Servicer to carry out its
obligations under the Sale and Servicing Agreement.

        SECTION 5.3. Action upon Instruction.

        (a) [Subject to Article IV and the terms of the Spread Account
Agreement], [the Note Insurer (so long as a Note Insurer Default shall not have
occurred and be continuing) or] the Certificateholder [(if a Note Insurer
Default shall have occurred and be continuing)] (the "Instructing Party") shall
have the exclusive right to direct the actions of the Owner Trustee in

                                       16
<PAGE>

the management of the Trust, so long as such instructions are not inconsistent
with the express terms set forth herein or in any Basic Document. The
Instructing Party shall not instruct the Owner Trustee in a manner inconsistent
with this Agreement or the Basic Documents.

        (b) The Owner Trustee shall not be required to take any action hereunder
or under any Basic Document if the Owner Trustee shall have reasonably
determined, or shall have been advised by counsel, that such action is likely to
result in liability on the part of the Owner Trustee or is contrary to the terms
hereof or of any Basic Document or is otherwise contrary to law.

        (c) Whenever the Owner Trustee is unable to decide between alternative
courses of action permitted or required by the terms of this Agreement or any
Basic Document, the Owner Trustee shall promptly give notice (in such form as
shall be appropriate under the circumstances) to the Instructing Party
requesting instruction as to the course of action to be adopted, and to the
extent the Owner Trustee acts in good faith in accordance with any written
instruction of the Instructing Party received, the Owner Trustee shall not be
liable on account of such action to any Person. If the Owner Trustee shall not
have received appropriate instruction within ten days of such notice (or within
such shorter period of time as reasonably may be specified in such notice or may
be necessary under the circumstances) it may, but shall be under no duty to,
take or refrain from taking such action, not inconsistent with this Agreement or
the Basic Documents, as it shall deem to be in the best interests of the
Certificateholder, and shall have no liability to any Person for such action or
inaction.

        (d) In the event that the Owner Trustee is unsure as to the application
of any provision of this Agreement or any Basic Document or any such provision
is ambiguous as to its application, or is, or appears to be, in conflict with
any other applicable provision, or in the event that this Agreement permits any
determination by the Owner Trustee or is silent or is incomplete as to the
course of action that the Owner Trustee is required to take with respect to a
particular set of facts, the Owner Trustee may give notice (in such form as
shall be appropriate under the circumstances) to the Instructing Party
requesting instruction and, to the extent that the Owner Trustee acts or
refrains from acting in good faith in accordance with any such instruction
received, the Owner Trustee shall not be liable, on account of such action or
inaction, to any Person. If the Owner Trustee shall not have received
appropriate instruction within 10 days of such notice (or within such shorter
period of time as reasonably may be specified in such notice or may be necessary
under the circumstances) it may, but shall be under no duty to, take or refrain
from taking such action, not inconsistent with this Agreement or the Basic
Documents, as it shall deem to be in the best interests of the
Certificateholder, and shall have no liability to any Person for such action or
inaction.

        SECTION 5.4. No Duties Except as Specified in this Agreement or in
Instructions. The Owner Trustee shall not have any duty or obligation to manage,
make any payment with respect to, register, record, sell, dispose of, or
otherwise deal with the Owner Trust Estate, or to otherwise take or refrain from
taking any action under, or in connection with, any document contemplated hereby
to which the Owner Trustee is a party, except as expressly provided by the terms
of this Agreement or in any document or written instruction received by the
Owner Trustee pursuant to Section 5.3; and no implied duties or obligations
shall be read into this Agreement or any Basic Document against the Owner
Trustee. The Owner Trustee shall

                                       17
<PAGE>

have no responsibility for filing any financing or continuation statement in any
public office at any time or to otherwise perfect or maintain the perfection of
any security interest or lien granted to it hereunder or to prepare or file any
Commission filing for the Trust or to record this Agreement or any Basic
Document. The Owner Trustee nevertheless agrees that it will, at its own cost
and expense, promptly take all action as may be necessary to discharge any Liens
on any part of the Owner Trust Estate that result from actions by, or claims
against, the Owner Trustee and that are not related to the ownership or the
administration of the Owner Trust Estate.

        SECTION 5.5. No Action Except under Specified Documents or Instructions.
The Owner Trustee shall not manage, control, use, sell, dispose of or otherwise
deal with any part of the Owner Trust Estate except (i) in accordance with the
powers granted to and the authority conferred upon the Owner Trustee pursuant to
this Agreement, (ii) in accordance with the Basic Documents and (iii) in
accordance with any document or instruction delivered to the Owner Trustee
pursuant to Section 5.3.

        SECTION 5.6. Restrictions. The Owner Trustee shall not take any action
(a) that is inconsistent with the purposes of the Trust set forth in Section 2.3
or (b) that, to the actual knowledge of the Owner Trustee, would result in the
Trust's becoming taxable as a corporation for Federal income tax purposes. The
Instructing Party shall not direct the Owner Trustee to take action that would
violate the provisions of this Section.

                                  ARTICLE VI.

                          Concerning the Owner Trustee

        SECTION 6.1. Acceptance of Trusts and Duties. The Owner Trustee accepts
the trusts hereby created and agrees to perform its duties hereunder with
respect to such trusts but only upon the terms of this Agreement. The Owner
Trustee also agrees to disburse all moneys actually received by it constituting
part of the Owner Trust Estate upon the terms of the Basic Documents and this
Agreement. The Owner Trustee shall not be answerable or accountable hereunder or
under any Basic Document under any circumstances, except (i) for its own willful
misconduct, bad faith or negligence, (ii) in the case of the inaccuracy of any
representation or warranty contained in Section 6.3 expressly made by the Owner
Trustee, (iii) for liabilities arising from the failure of the Owner Trustee to
perform obligations expressly undertaken by it in the last sentence of Section
5.4 hereof, (iv) for any investments issued by the Owner Trustee or any branch
or Affiliate thereof in its commercial capacity or (v) for taxes, fees or other
charges on, based on or measured by, any fees, commissions or compensation
received by the Owner Trustee. In particular, but not by way of limitation (and
subject to the exceptions set forth in the preceding sentence):

        (a) the Owner Trustee shall not be liable for any error of judgment made
in good faith by a Responsible Officer of the Owner Trustee;

        (b) the Owner Trustee shall not be liable with respect to any action
taken or omitted to be taken by it in accordance with the instructions of the
Instructing Party, the Servicer or the Certificateholder;

                                       18
<PAGE>

        (c) no provision of this Agreement or any Basic Document shall require
the Owner Trustee to expend or risk funds or otherwise incur any financial
liability in the performance of any of its rights or powers hereunder or under
any Basic Document if the Owner Trustee shall have reasonable grounds for
believing that repayment of such funds or adequate indemnity against such risk
or liability is not reasonably assured or provided to it;

        (d) under no circumstances shall the Owner Trustee be liable for
indebtedness evidenced by or arising under any of the Basic Documents, including
the principal of and interest on the Notes;

        (e) the Owner Trustee shall not be responsible for or in respect of the
validity or sufficiency of this Agreement or for the due execution hereof by the
Transferor or for the form, character, genuineness, sufficiency, value or
validity of any of the Owner Trust Estate or for or in respect of the validity
or sufficiency of the Basic Documents, other than the certificate of
authentication on a Certificate, and the Owner Trustee shall in no event assume
or incur any liability, duty or obligation to the [Note Insurer,] Indenture
Trustee, Trust Collateral Agent, the Collateral Agent, any Noteholder or to any
Certificateholder, other than as expressly provided for herein and in the Basic
Documents;

        (f) the Owner Trustee shall not be liable for the default or misconduct
of [the Note Insurer,] the Indenture Trustee, the Trust Collateral Agent or the
Servicer under any of the Basic Documents or otherwise and the Owner Trustee
shall have no obligation or liability to perform the obligations under this
Agreement or the Basic Documents that are required to be performed by the
Indenture Trustee under the Indenture or the Trust Collateral Agent or the
Servicer under the Sale and Servicing Agreement; and

        (g) the Owner Trustee shall be under no obligation to exercise any of
the rights or powers vested in it by this Agreement, or to institute, conduct or
defend any litigation under this Agreement or otherwise or in relation to this
Agreement or any Basic Document, at the request, order or direction of the
Instructing Party or the Certificateholder, unless such Instructing Party or
Certificateholder has offered to the Owner Trustee security or indemnity
reasonably satisfactory to it against the costs, expenses and liabilities that
may be incurred by the Owner Trustee therein or thereby. The right of the Owner
Trustee to perform any discretionary act enumerated in this Agreement or in any
Basic Document shall not be construed as a duty, and the Owner Trustee shall not
be answerable for other than its negligence, bad faith or willful misconduct in
the performance of any such act.

        SECTION 6.2. Furnishing of Documents. The Owner Trustee shall furnish to
the Certificateholder promptly upon receipt of a written request therefor,
duplicates or copies of all reports, notices, requests, demands, certificates,
financial statements and any other instruments furnished to the Owner Trustee
under the Basic Documents.

        SECTION 6.3. Representations and Warranties. The Owner Trustee and [___]
hereby represent and warrant to the Transferor, the Certificateholder [and the
Note Insurer (which shall have relied on such representations and warranties in
issuing the Note Policy)], that:

                                       19
<PAGE>

        (a) It is a Delaware banking corporation, duly organized and validly
    existing in good standing under the laws of the State of Delaware and it
    holds all grants, authorizations, consents, orders and approvals from all
    governmental authorities necessary under the laws of the State of Delaware
    to carry on its true business as now conducted. It has all requisite
    corporate power and authority to execute, deliver and perform its
    obligations under this Agreement.

        (b) It has taken all corporate action necessary to authorize the
    execution and delivery by it of this Agreement, and this Agreement will be
    executed and delivered by one of its officers who is duly authorized to
    execute and deliver this Agreement on its behalf.

        (c) Neither the execution nor the delivery by it of this Agreement, nor
    the consummation by it of the transactions contemplated hereby nor
    compliance by it with any of the terms or provisions hereof will contravene
    any Delaware state or federal law, governmental rule or regulation governing
    the banking or trust powers of the Owner Trustee or any judgment or order
    binding on it, or constitute any default under its charter documents or
    by-laws or any indenture, mortgage, contract, agreement or instrument to
    which it is a party or by which any of its properties may be bound, or
    result in the creation or imposition of any lien, charge or encumbrance on
    the Trust Assets resulting from actions by or claims against the Owner
    Trustee in its individual capacity except as expressly contemplated by this
    Agreement or Indenture.

        (d) No consent, approval, authorization or order of, or filing with, any
    court or regulatory, supervisory or government agency or body is required by
    the Owner Trustee under Delaware law in connection with the execution,
    delivery and performance by the Owner Trustee of this Agreement or the
    consummation by the Owner Trustee of the transactions contemplated hereby
    (except for the filing of the Certificate of Trust with the Secretary of
    State).

        (e) The Owner Trustee has no present intent to cause a voluntary
    bankruptcy of the Trust.

        SECTION 6.4. Reliance; Advice of Counsel.

        (a) The Owner Trustee shall incur no liability to anyone in acting upon
any signature, instrument, notice, resolution, request, consent, order,
certificate, report, opinion, bond or other document or paper believed by it to
be genuine and believed by it to be signed by the proper party or parties. The
Owner Trustee may accept a certified copy of a resolution of the board of
directors or other governing body of any corporate party as conclusive evidence
that such resolution has been duly adopted by such body and that the same is in
full force and effect. As to any fact or matter the method of the determination
of which is not specifically prescribed herein, the Owner Trustee may for all
purposes hereof rely on a certificate, signed by the president or any vice
president or by the treasurer, secretary or other authorized officers of the
relevant party, as to such fact or matter, and such certificate shall constitute
full protection to the Owner Trustee for any action taken or omitted to be taken
by it in good faith in reliance thereon.

                                       20
<PAGE>

        (b) In the exercise or administration of the trusts hereunder and in the
performance of its duties and obligations under this Agreement or the Basic
Documents, the Owner Trustee (i) may act directly or through its agents or
attorneys pursuant to agreements entered into with any of them, and the Owner
Trustee shall not be liable for the conduct or misconduct of such agents or
attorneys if such agents or attorneys shall have been selected by the Owner
Trustee with reasonable care, and (ii) may consult with counsel, accountants and
other skilled persons to be selected with reasonable care and employed by it.
The Owner Trustee shall not be liable for anything done, suffered or omitted in
good faith by it in accordance with the written opinion or advice of any such
counsel, accountants or other such persons and according to such opinion not
contrary to this Agreement or any Basic Document.

        SECTION 6.5. Not Acting in Individual Capacity. Except as provided in
Article II and this Article VI, in accepting the trusts hereby created [___]
acts solely as Owner Trustee hereunder and not in its individual capacity and
all Persons having any claim against the Owner Trustee by reason of the
transactions contemplated by this Agreement or any Basic Document shall look
only to the Owner Trust Estate for payment or satisfaction thereof.

        SECTION 6.6. Owner Trustee Not Liable for Certificates or Receivables.
The recitals contained herein and in the Certificates (other than the signature
and countersignature of the Owner Trustee on the Certificates) shall be taken as
the statements of the Transferor and the Owner Trustee assumes no responsibility
for the correctness thereof. The Owner Trustee makes no representations as to
the validity or sufficiency of this Agreement, of any Basic Document or of the
Certificates (other than the signature and countersignature of the Owner Trustee
on the Certificates) or the Notes, or of any Receivable or related documents.
The Owner Trustee shall at no time have any responsibility or liability for or
with respect to the legality, validity and enforceability of any Receivable, or
the perfection and priority of any security interest created by any Receivable
in any Financed Vehicle or the maintenance of any such perfection and priority,
or for or with respect to the sufficiency of the Owner Trust Estate or its
ability to generate the payments to be distributed to Certificateholder under
this Agreement or the Noteholders under the Indenture, including, without
limitation: the existence, condition and ownership of any Financed Vehicle; the
existence and enforceability of any insurance thereon; the existence and
contents of any Receivable on any computer or other record thereof; the validity
of the assignment of any Receivable to the Trust or of any intervening
assignment; the completeness of any Receivable; the performance or enforcement
of any Receivable; the compliance by the Transferor, the Servicer or any other
Person with any warranty or representation made under any Basic Document or in
any related document or the accuracy of any such warranty or representation or
any action of the Indenture Trustee or the Servicer or any subservicer taken in
the name of the Owner Trustee.

        SECTION 6.7. Owner Trustee May Own Notes. The Owner Trustee in its
individual capacity may become the owner or pledgee of the Notes and may deal
with the Certificateholder, the Transferor, the Indenture Trustee and the
Servicer in banking transactions with the same rights as it would have if it
were not Owner Trustee.

        SECTION 6.8. Payments from Owner Trust Estate. All payments to be made
by the Owner Trustee under this Agreement or any of the Basic Documents to which
the Trust or the Owner Trustee is a party shall be made only from the income and
proceeds of the Owner

                                       21
<PAGE>

Trust Estate and only to the extent that the Owner Trust shall have received
income or proceeds from the Owner Trust Estate to make such payments in
accordance with the terms hereof. [Name of Owner Trustee], or any successor
thereto, in its individual capacity, shall not be liable for any amounts payable
under this Agreement or any of the Basic Documents to which the Trust or the
Owner Trustee is a party.

        SECTION 6.9. Doing Business in Other Jurisdictions. Notwithstanding
anything contained to the contrary, neither [Name of Owner Trustee] or any
successor thereto, nor the Owner Trustee shall be required to take any action in
any jurisdiction other than in the State of Delaware if the taking of such
action will, even after the appointment of a co-trustee or separate trustee in
accordance with Section 9.5 hereof, (i) require the consent or approval or
authorization or order of or the giving of notice to, or the registration with
or the taking of any other action in respect of, any state or other governmental
authority or agency of any jurisdiction other than the State of Delaware; (ii)
result in any fee, tax or other governmental charge under the laws of the State
of Delaware becoming payable by [Name of Owner Trustee] (or any successor
thereto); or (iii) subject [Name of Owner Trustee] (or any successor thereto) to
personal jurisdiction in any jurisdiction other than the State of Delaware for
causes of action arising from acts unrelated to the consummation of the
transactions by [Name of Owner Trustee] (or any successor thereto) or the Owner
Trustee, as the case may be, contemplated hereby.

                                  ARTICLE VII.

                          Compensation of Owner Trustee

        SECTION 7.1. Owner Trustee's Fees and Expenses. The Owner Trustee shall
receive as compensation for its services hereunder such fees as have been
separately agreed upon before the date hereof between Triad Corp., and the Owner
Trustee, and the Owner Trustee shall be entitled to be reimbursed by Triad
Corp., for its other reasonable expenses hereunder, including the reasonable
compensation, expenses and disbursements of such agents, representatives,
experts and counsel as the Owner Trustee may employ in connection with the
exercise and performance of its rights and its duties hereunder and under the
Basic Documents.

        SECTION 7.2. Indemnification. Each of the Owner Trustee and [Name of
Owner Trustee] and its officers, directors, successors, assigns, agents and
servants shall be indemnified by the Servicer in and to the extent set forth in
Section 8.2(a)(v) of the Sale and Servicing Agreement.

        SECTION 7.3. Payments to the Owner Trustee. Any amounts paid to the
Owner Trustee pursuant to this Article VII shall be deemed not to be a part of
the Owner Trust Estate immediately after such payment.

        SECTION 7.4. Non-recourse Obligations. Notwithstanding anything in this
Agreement or any Basic Document, the Owner Trustee agrees in its individual
capacity and in its capacity as Owner Trustee for the Trust that all obligations
of the Trust to the Owner Trustee individually or as Owner Trustee for the Trust
shall be recourse to the Owner Trust Estate only and specifically shall not be
recourse to the assets of the Certificateholder.

                                       22
<PAGE>

                                 ARTICLE VIII.

                         Termination of Trust Agreement

        SECTION 8.1. Termination of Trust Agreement.

        (a) This Agreement shall terminate and the Trust shall wind up and
dissolve and be of no further force or effect upon the latest of (i) the
maturity or other liquidation of the last Receivable and the subsequent
distribution of amounts in respect of such Receivables as provided in the Basic
Documents, (ii) the payment to the Certificateholder of all amounts required to
be paid to it pursuant to this Agreement [and the payment to the Note Insurer of
all amounts payable or reimbursable to it pursuant to the Sale and Servicing
Agreement, (iii) the expiration of the Note Policy in accordance with its terms;
or (iv) payment to the Note Insurer in full of all Reimbursement Obligations];
provided, however, that the rights to indemnification under Section 7.2 and the
rights under Section 7.1 shall survive the termination of the Trust. The
Servicer shall promptly notify the Owner Trustee [and the Note Insurer] of any
prospective termination pursuant to this Section. The bankruptcy, liquidation,
dissolution, death or incapacity of the Certificateholder, shall not (x) operate
to terminate this Agreement or the Trust, nor (y) entitle the
Certificateholder's legal representatives or heirs to claim an accounting or to
take any action or proceeding in any court for a partition or winding up of all
or any part of the Trust or Owner Trust Estate nor (z) otherwise affect the
rights, obligations and liabilities of the parties hereto.

        (b) Neither the Transferor nor the Certificateholder shall be entitled
to revoke or terminate the Trust.

        (c) Notice of any termination of the Trust, specifying the Payment Date
upon which the Certificateholder shall surrender the Certificate to the Trust
Collateral Agent for payment of the final distribution and cancellation, shall
be given by the Owner Trustee by letter to the Certificateholder mailed within
five Business Days of receipt of notice of such termination from the Servicer
given pursuant to Section 10.1(c) of the Sale and Servicing Agreement, stating
(i) the Payment Date upon or with respect to which final payment of the
Certificates shall be made upon presentation and surrender of the Certificates
at the office of the Trust Collateral Agent therein designated, (ii) the amount
of any such final payment, (iii) that the Record Date otherwise applicable to
such Payment Date is not applicable, payments being made only upon presentation
and surrender of the Certificates at the office of the Trust Collateral Agent
therein specified and (iv) interest will cease to accrue on the Certificates.
The Owner Trustee shall give such notice to the Trust Collateral Agent at the
time such notice is given to the Certificateholder. Upon presentation and
surrender of the Certificates, the Trust Collateral Agent shall cause to be
distributed to the Certificateholder amounts distributable on such Payment Date
pursuant to Section 5.6 of the Sale and Servicing Agreement.

        In the event that the Certificateholder shall not surrender the
Certificates for cancellation within six months after the date specified in the
above mentioned written notice, the Trust Collateral Agent shall give a second
written notice to the Certificateholder to surrender the Certificates for
cancellation and receive the final distribution with respect thereto. If within
one year after the second notice all the Certificates shall not have been
surrendered for cancellation,

                                       23
<PAGE>

the Trust Collateral Agent may take appropriate steps, or may appoint an agent
to take appropriate steps, to contact the Certificateholder concerning surrender
of the Certificates, and the cost thereof shall be paid out of the funds and
other assets that shall remain subject to this Agreement. Any funds remaining in
the Trust after exhaustion of such remedies shall be distributed, subject to
applicable escheat laws, by the Trust Collateral Agent to the Certificateholder.

        (d) Upon the winding up of the Trust and its dissolution, the Owner
Trustee shall cause the Certificate of Trust to be canceled by filing a
certificate of cancellation with the Secretary of State in accordance with the
provisions of Section 3810 of the Business Trust Statute.

                                   ARTICLE IX.

             Successor Owner Trustees and Additional Owner Trustees

        SECTION 9.1. Eligibility Requirements for Owner Trustee. The Owner
Trustee shall at all times be a corporation or national banking association (i)
satisfying the provisions of Section 3807(a) of the Business Trust Statute; (ii)
authorized to exercise corporate trust powers; [and] (iii) having a combined
capital and surplus of at least $50,000,000 and subject to supervision or
examination by Federal or State authorities[; and (iv) acceptable to the Note
Insurer in its sole discretion, so long as a Note Insurer Default shall not have
occurred and be continuing.] If such entity shall publish reports of condition
at least annually, pursuant to law or to the requirements of the aforesaid
supervising or examining authority, then for the purpose of this Section, the
combined capital and surplus of such entity shall be deemed to be its combined
capital and surplus as set forth in its most recent report of condition so
published. In case at any time the Owner Trustee shall cease to be eligible in
accordance with the provisions of this Section, the Owner Trustee shall resign
immediately in the manner and with the effect specified in Section 9.2.

        SECTION 9.2. Resignation or Removal of Owner Trustee. The Owner Trustee
may at any time resign and be discharged from the trusts hereby created by
giving sixty days' written notice thereof to the Transferor, the
Certificateholder[, the Note Insurer] and the Servicer. Upon receiving such
notice of resignation, the Certificateholder shall[, with the prior written
consent of the Note Insurer,] promptly appoint a successor Owner Trustee by
written instrument, in duplicate, one copy of which instrument shall be
delivered to the resigning Owner Trustee and one copy to the successor Owner
Trustee[, provided that the Certificateholder shall have received written
confirmation from each of the Rating Agencies that the proposed appointment will
not result in an increased capital charge to the Note Insurer by either of the
Rating Agencies.] If no successor Owner Trustee shall have been so appointed and
have accepted appointment within thirty (30) days after the giving of such
notice of resignation, the resigning Owner Trustee [or the Note Insurer] may
petition any court of competent jurisdiction for the appointment of a successor
Owner Trustee.

        If at any time the Owner Trustee shall cease to be eligible in
accordance with the provisions of Section 9.1 and shall fail to resign after
written request therefor by the Certificateholder, or if at any time the Owner
Trustee shall be legally unable to act, or shall be

                                       24
<PAGE>

adjudged bankrupt or insolvent, or a receiver of the Owner Trustee or of its
property shall be appointed, or any public officer shall take charge or control
of the Owner Trustee or of its property or affairs for the purpose of
rehabilitation, conservation or liquidation, then the Certificateholder [with
the consent of the Note Insurer (so long as a Note Insurer Default shall not
have occurred and be continuing)] may remove the Owner Trustee. If the
Certificateholder shall remove the Owner Trustee under the authority of the
immediately preceding sentence, the Certificateholder shall[, with the prior
written consent of the Note Insurer,] promptly appoint a successor Owner Trustee
by written instrument, in duplicate, one copy of which instrument shall be
delivered to the outgoing Owner Trustee so removed[, one copy to the Note
Insurer] and one copy to the successor Owner Trustee and payment of all fees
owed to the outgoing Owner Trustee.

        Any resignation or removal of the Owner Trustee and appointment of a
successor Owner Trustee pursuant to any of the provisions of this Section shall
not become effective until acceptance of appointment by the successor Owner
Trustee pursuant to Section 9.3 and payment of all fees and expenses owed to the
outgoing Owner Trustee. The Certificateholder shall provide notice of such
resignation or removal of the Owner Trustee to each of the Rating Agencies.

        SECTION 9.3. Successor Owner Trustee. Any successor Owner Trustee
appointed pursuant to Section 9.2 shall execute, acknowledge and deliver to the
Transferor, the Certificateholder, the Servicer[, the Note Insurer] and to its
predecessor Owner Trustee an instrument accepting such appointment under this
Agreement, and thereupon the resignation or removal of the predecessor Owner
Trustee shall become effective and such successor Owner Trustee, without any
further act, deed or conveyance, shall become fully vested with all the rights,
powers, duties and obligations of its predecessor under this Agreement, with
like effect as if originally named as Owner Trustee. The predecessor Owner
Trustee shall upon payment of its fees and expenses deliver to the successor
Owner Trustee all documents and statements and monies held by it under this
Agreement; and the Transferor, the Certificateholder and the predecessor Owner
Trustee shall execute and deliver such instruments and do such other things as
may reasonably be required for fully and certainly vesting and confirming in the
successor Owner Trustee all such rights, powers, duties and obligations.

        No successor Owner Trustee shall accept appointment as provided in this
Section unless at the time of such acceptance such successor Owner Trustee shall
be eligible pursuant to Section 9.1.

        Upon acceptance of appointment by a successor Owner Trustee pursuant to
this Section, (i) the Servicer shall mail notice of the successor of such Owner
Trustee to the Certificateholder, the Indenture Trustee, the Noteholders and the
Rating Agencies and (ii) the successor Owner Trustee shall file an amendment to
the Certificate of Trust with the secretary of State identifying its name and
principal place of business in the State of Delaware. If the Servicer shall fail
to mail such notice within ten (10) days after acceptance of appointment by the
successor Owner Trustee, the successor Owner Trustee shall cause such notice to
be mailed at the expense of the Servicer.

                                       25
<PAGE>

        SECTION 9.4. Merger or Consolidation of Owner Trustee. Any corporation
into which the Owner Trustee may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Owner Trustee shall be a party, or any corporation
succeeding to all or substantially all of the corporate trust business of the
Owner Trustee, shall be the successor of the Owner Trustee hereunder, provided
such corporation shall be eligible pursuant to Section 9.1, without the
execution or filing of any instrument or any further act on the part of any of
the parties hereto, anything herein to the contrary notwithstanding; provided
further that the Owner Trustee (i) shall mail notice of such merger or
consolidation to the Rating Agencies and (ii) shall file an amendment to the
Certificate of Trust as required under Section 9.3, above.

        SECTION 9.5. Appointment of Co-Indenture Trustee or Separate Indenture
Trustee. Notwithstanding any other provisions of this Agreement, at any time,
for the purpose of meeting any legal requirements of any jurisdiction in which
any part of the Owner Trust Estate or any Financed Vehicle may at the time be
located, the Servicer and the Owner Trustee acting jointly shall have the power
and shall execute and deliver all instruments to appoint one or more Persons
approved by the Owner Trustee [and the Note Insurer] to act as co-trustee,
jointly with the Owner Trustee, or separate trustee or separate trustees, of all
or any part of the Owner Trust Estate, and to vest in such Person, in such
capacity, such title to the Trust, or any part thereof, and, subject to the
other provisions of this Section, such powers, duties, obligations, rights and
trusts as the Servicer and the Owner Trustee may consider necessary or
desirable. If the Servicer shall not have joined in such appointment within 15
days after the receipt by it of a request so to do, the Owner Trustee [subject,
unless a Note Insurer Default shall have occurred and be continuing, to the
approval of the Note Insurer (which approval shall not be unreasonably
withheld)] shall have the power to make such appointment. No co-trustee or
separate trustee under this Agreement shall be required to meet the terms of
eligibility as a successor trustee pursuant to Section 9.1 and no notice of the
appointment of any co-trustee or separate trustee shall be required pursuant to
Section 9.3.

        Each separate trustee and co-trustee shall, to the extent permitted by
law, be appointed and act subject to the following provisions and conditions:

                (i) all rights, powers, duties and obligations conferred or
        imposed upon the Owner Trustee shall be conferred upon and exercised or
        performed by the Owner Trustee and such separate trustee or co-trustee
        jointly (it being understood that such separate trustee or co-trustee is
        not authorized to act separately without the Owner Trustee joining in
        such act), except to the extent that under any law of any jurisdiction
        in which any particular act or acts are to be performed, the Owner
        Trustee shall be incompetent or unqualified to perform such act or acts,
        in which event such rights, powers, duties and obligations (including
        the holding of title to the Trust or any portion thereof in any such
        jurisdiction) shall be exercised and performed singly by such separate
        trustee or co-trustee, but solely at the direction of the Owner Trustee;

                (ii) no trustee under this Agreement shall be personally liable
        by reason of any act or omission of any other trustee under this
        Agreement; and

                                       26
<PAGE>

                (iii) the Servicer and the Owner Trustee acting jointly may at
        any time accept the resignation of or remove any separate trustee or
        co-trustee.

        Any notice, request or other writing given to the Owner Trustee shall be
deemed to have been given to each of the then separate trustees and co-trustees,
as effectively as if given to each of them. Every instrument appointing any
separate trustee or co-trustee shall refer to this Agreement and the conditions
of this Article. Each separate trustee and co-trustee, upon its acceptance of
the trusts conferred, shall be vested with the estates or property specified in
its instrument of appointment, either jointly with the Owner Trustee or
separately, as may be provided therein, subject to all the provisions of this
Agreement, specifically including every provision of this Agreement relating to
the conduct of, affecting the liability of, or affording protection to, the
Owner Trustee. Each such instrument shall be filed with the Owner Trustee and a
copy thereof given to the Servicer [and the Note Insurer.]

        Any separate trustee or co-trustee may at any time appoint the Owner
Trustee, its agent or attorney-in-fact with full power and authority, to the
extent not prohibited by law, to do any lawful act under or in respect of this
Agreement on its behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all of its estates,
properties, rights, remedies and trusts shall vest in and be exercised by the
Owner Trustee, to the extent permitted by law, without the appointment of a new
or successor trustee.

                                   ARTICLE X.

                                  Miscellaneous

        SECTION 10.1. Supplements and Amendments.

        (a) This Agreement may be amended by the Transferor and the Owner
Trustee, [with the prior written consent of the Note Insurer (so long as a Note
Insurer Default shall not have occurred and be continuing) and] with prior
written notice to the Rating Agencies, without the consent of any of the
Noteholders or the Certificateholder, (i) to cure any ambiguity or defect or
(ii) to correct, supplement or modify any provisions in this Agreement;
provided, however, that such action shall not, as evidenced by an Opinion of
Counsel which may be based upon a certificate of the Servicer, delivered to the
Owner Trustee, the Rating Agencies [and the Note Insurer,] adversely affect in
any material respect the interests of any Noteholder or Certificateholder.

        (b) This Agreement may also be amended from time to time[, with the
prior written consent of the Note Insurer (so long as a Note Insurer Default
shall not have occurred and be continuing)] by the Transferor and the Owner
Trustee, with prior written notice to the Rating Agencies, to the extent such
amendment materially and adversely affects the interests of the Noteholders,
with the consent of the Noteholders evidencing not less than 50% of the
outstanding Note Balance and, the consent of the Certificateholder (which
consent of any Certificateholder given pursuant to this Section or pursuant to
any other provision of this Agreement shall be conclusive and binding on such
Certificateholder and any future Certificateholder) 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

                                       27
<PAGE>

the Noteholders or the Certificateholder; provided, however, that[, subject to
the express rights of the Note Insurer under the Basic Documents,] no such
amendment shall (a) 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 Certificateholder or (b) reduce the aforesaid percentage of
the Note Balance or the Certificateholders required to consent to any such
amendment, without the consent of the Noteholders of all the outstanding Notes
and the Certificateholder.

        Promptly after the execution of any such amendment or consent, the Owner
Trustee shall furnish written notification of the substance of such amendment or
consent to the Certificateholder, the Indenture Trustee and each of the Rating
Agencies.

        It shall not be necessary for the consent of Certificateholder, the
Noteholders or the Indenture Trustee 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. The manner of obtaining
such consents (and any other consents of the Certificateholder provided for in
this Agreement or in any other Basic Document) and of evidencing the
authorization of the execution thereof by Certificateholder shall be subject to
such reasonable requirements as the Owner Trustee may prescribe. Promptly after
the execution of any amendment to the Certificate of Trust, the Owner Trustee
shall cause the filing of such amendment with the Secretary of State.

        Prior to the execution of any amendment to this Agreement or the
Certificate of Trust, the Owner Trustee [and the Note Insurer] shall be entitled
to receive and 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. The Owner Trustee may, but shall not be obligated to, enter into any
such amendment which affects the Owner Trustee's own rights, duties or
immunities under this Agreement or otherwise.

        SECTION 10.2. No Legal Title to Owner Trust Estate in Certificateholder.
The Certificateholder shall not have legal title to any part of the Owner Trust
Estate. The Certificateholder shall be entitled to receive distributions in
accordance with the Sale and Servicing Agreement. No transfer, by operation of
law or otherwise, of any right, title or interest of the Certificateholder to
and in its ownership interest in the Owner Trust Estate shall operate to
terminate this Agreement or the trusts hereunder or entitle any transferee to an
accounting or to the transfer to it of legal title to any part of the Owner
Trust Estate.

        SECTION 10.3. Limitations on Rights of Others. The provisions of this
Agreement are solely for the benefit of the Owner Trustee, the Transferor, the
Certificateholder, the Servicer and, to the extent expressly provided herein,
[the Note Insurer,] the Indenture Trustee and the Noteholders, and nothing in
this Agreement, whether express or implied, shall be construed to give to any
other Person any legal or equitable right, remedy or claim in the Owner Trust
Estate or under or in respect of this Agreement or any covenants, conditions or
provisions contained herein.

                                       28
<PAGE>

        SECTION 10.4. Notices.

        (a) Unless otherwise expressly specified or permitted by the terms
hereof, all notices shall be in writing and shall be deemed given upon receipt
personally delivered, sent by facsimile transmission (with appropriate
confirmation) delivered by overnight courier or mailed first class mail or
certified mail, in each case return receipt requested, and shall be deemed to
have been duly given upon receipt:

           (i)     if to the Owner Trustee, addressed to:

                   ___________________
                   ___________________
                   ___________________
                   __________, ________ ________
                   Attention: __________________
                   (Telecopy Number: ___________)

           (ii)    if to the Transferor, addressed to:

                   Triad Financial Special Purpose LLC.
                   711 Center Avenue, Suite 100
                   Huntington Beach, California 92647
                   Attention:  General Counsel

                   [if to the Note Insurer, addressed to

                   ___________________
                   ___________________
                   Attention: ___________________
                   Re: Triad Auto Receivables Trust 20__-__
                   Telex No.: ___________________
                   Confirmation: ________________
                   Telecopy Nos.:  ______________

           (iii)   in the case of the Rating Agencies, addressed to:

                   Moody's Investors Service, Inc.
                   99 Church Street
                   New York, New York 10007
                   Attention:  ABS Monitoring Department

                   and

                   Standard & Poor's Ratings Service
                   55 Water Street, 40th Floor
                   New York, New York 10041
                   Attention:  Asset Backed Surveillance Department

                                       29
<PAGE>

        (b) Any notice required or permitted to be given to a Certificateholder
shall be given by first-class mail, postage prepaid, at the address of the
Certificateholder in the register maintained by the Owner Trustee. Any notice so
mailed within the time prescribed in this Agreement shall be conclusively
presumed to have been duly given, whether or not the Certificateholder receives
such notice.

        SECTION 10.5. Severability. Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
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.

        SECTION 10.6. Separate Counterparts. This Agreement may be executed by
the parties hereto in separate counterparts, each of which when so executed and
delivered shall be an original, but all such counterparts shall together
constitute but one and the same instrument.

        SECTION 10.7. Assignments. This Agreement shall inure to the benefit of
and be binding upon the parties hereto and their respective successors and
permitted assigns.

        SECTION 10.8. No Recourse. The Certificateholder by accepting a
Certificate acknowledges that the Certificate represents a beneficial interest
in the Trust only and does not represent interests in or obligations of the
Transferor, the Servicer, the Owner Trustee, the Indenture Trustee, [the Note
Insurer or any Affiliate thereof] and no recourse may be had against such
parties or their assets, except as may be expressly set forth or contemplated in
this Agreement, the Certificate or the Basic Documents.

        SECTION 10.9. Headings. The headings of the various Articles and
Sections herein are for convenience of reference only and shall not define or
limit any of the terms or provisions hereof.

        SECTION 10.10. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, 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 10.11. Servicer. The Servicer is authorized to prepare, or cause
to be prepared, execute and deliver on behalf of the Trust all such documents,
reports, filings, instruments, certificates and opinions as it shall be the duty
of the Trust or Owner Trustee to prepare, file or deliver pursuant to the Basic
Documents. Upon written request, the Owner Trustee shall execute and deliver to
the Servicer a limited power of attorney appointing the Servicer the Trust's
agent and attorney-in-fact to prepare, or cause to be prepared, execute and
deliver all such documents, reports, filings, instruments, certificates and
opinions.

        SECTION 10.12. [Limitation on Liability. With respect to the Note
Insurer, the Owner Trustee undertakes to perform or observe only such of the
covenants and obligations of the Owner Trustee as are expressly set forth in
this Agreement, and no implied covenants or

                                       30
<PAGE>

obligations with respect to the Note Insurer shall be read into this Agreement
or the other Basic Documents against the Owner Trustee. The Owner Trustee shall
not be deemed to owe any fiduciary duty to the Note Insurer, and shall not be
liable to any such person for the failure of the Trust to perform its
obligations to such persons other than as a result of the gross negligence or
willful misconduct of the Owner Trustee in the performance of its express
obligations under this Agreement.]

        SECTION 10.13. No Petition. The Owner Trustee (not in its individual
capacity but solely as Owner Trustee), by entering into this Agreement, the
Certificateholder, by accepting the Certificate, and the Indenture Trustee and
each Noteholder by accepting the benefits of this Agreement, hereby covenant and
agree that they will not at any time institute against the Transferor, or join
in any institution against the Transferor of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings, or other proceedings under
any United States federal or state bankruptcy or similar law in connection with
any obligations relating to the Certificate, the Notes, this Agreement or any
other Basic Documents.

        SECTION 10.14. Bankruptcy Matters. To the fullest extent permitted by
law, the Certificateholder or any party to this Agreement shall not take any
action to cause the Trust to dissolve in whole or in part or file a voluntary
petition or otherwise initiate proceedings to have the Trust adjudicated
bankrupt or insolvent, or consent to the institution of bankruptcy or insolvency
proceedings against the Trust as debtor under any applicable federal or state
law relating to bankruptcy, insolvency or other relief for debts with respect to
the Trust; or seek or consent to the appointment of any trustee, receiver,
conservator, assignee, sequestrator, custodian, liquidator (or other similar
official) of the Trust or of all or any substantial part of the properties and
assets of the Trust, or cause the Trust to make any general assignment for the
benefit or creditors of the Trust or take any action in furtherance of any of
the above actions unless the Certificateholder and the Indenture Trustee shall
have provided their written consent.

        SECTION 10.15. [Effect of Policy Expiration Date. Notwithstanding
anything to the contrary set forth herein, all references to any right of the
Note Insurer to direct, appoint, consent to, accept, approve of, take or omit to
take any action under this Agreement or any other Basic Document shall be
inapplicable at all times after the Policy Expiration Date, and if such
reference provides for another party or parties to take or omit to take any such
action following a Note Insurer Default, such party or parties shall also be
entitled to take or omit to take such action following the Policy Expiration
Date and (ii) if such reference does not provide for another party or parties to
take or omit to take any such action following a Note Insurer Default, then the
Indenture Trustee acting at the direction of the Majorityholders shall have the
right to take or omit to take any such action following the Policy Expiration
Date. In addition, any other provision of this Agreement or any other Basic
Document which is operative based in whole or in part on whether a Note Insurer
Default has or has not occurred shall, at all times on or after the Policy
Expiration Date, be deemed to refer to whether or not the Policy Expiration Date
has occurred.]

                                       31
<PAGE>

        IN WITNESS WHEREOF, the parties hereto have caused this Trust Agreement
to be duly executed by their respective officers hereunto duly authorized as of
the day and year first above written.

                                     ________________________, as Owner Trustee

                                     By: ______________________________________
                                         Name:
                                         Title:

                                     TRIAD FINANCIAL SPECIAL PURPOSE LLC

                                     By: ______________________________________
                                         Name:
                                         Title:

                                [Trust Agreement]

<PAGE>

                                                                      EXHIBIT A

                         [FORM OF CERTIFICATE OF TRUST]

                              CERTIFICATE OF TRUST
                                       OF
                      TRIAD AUTO RECEIVABLES TRUST 20__-__

        This Certificate of Trust of TRIAD AUTO RECEIVABLES TRUST 20__-__ (the
"Trust") is being duly executed and filed by the undersigned, as trustee, to
form a business trust under the Delaware Business Trust Act (12 Del. C. Section
3801 et seq.) (the "Act").

        1. Name. The name of the business trust formed hereby is TRIAD AUTO
RECEIVABLES TRUST 20__-__.

        2. Owner Trustee. The name and business address of the trustee of the
Trust in the State of Delaware is [Name of owner trustee], _______________,
___________________, __________, __________ ________, Attention:
___________________.

        3. Effective Date. This Certificate of Trust will be effective upon
filing.

        IN WITNESS WHEREOF, the undersigned, being the sole trustee of the
Trust, has executed this Certificate of Trust in accordance with Section 3811(a)
of the Act.

                                     [NAME OF OWNER TRUSTEE], as Owner Trustee

                                     By: ______________________________________
                                         Name:
                                         Title:

<PAGE>

                                                                      EXHIBIT B

                              [FORM OF CERTIFICATE]

THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR THE APPLICABLE SECURITIES LAWS OF ANY STATE.
ACCORDINGLY, ANY TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN RESTRICTIONS
SET FORTH IN SECTION 3.7 OF THE TRUST AGREEMENT. BY ITS ACCEPTANCE OF THIS
CERTIFICATE THE HOLDER OF THIS CERTIFICATE IS DEEMED TO REPRESENT TO THE
TRANSFEROR AND THE OWNER TRUSTEE (I) THAT IT IS AN INSTITUTIONAL INVESTOR THAT
IS AN "ACCREDITED INVESTOR" AS DEFINED IN RULE 501(A)(1), (2), (3) OR (7) OF
REGULATION D PROMULGATED UNDER THE SECURITIES ACT (AN "INSTITUTIONAL ACCREDITED
INVESTOR") AND THAT IT IS ACQUIRING THIS CERTIFICATE FOR ITS OWN ACCOUNT (AND
NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH
OTHERS ALSO ARE INSTITUTIONAL ACCREDITED INVESTORS UNLESS THE HOLDER IS A BANK
ACTING IN ITS FIDUCIARY CAPACITY) FOR INVESTMENT AND NOT WITH A VIEW TO, OR FOR
OFFER OR SALE IN CONNECTION WITH, THE PUBLIC DISTRIBUTION HEREOF OR (II) THAT IT
IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT AND IS ACQUIRING THIS CERTIFICATE FOR ITS OWN ACCOUNT (AND NOT
FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS
ALSO ARE QUALIFIED INSTITUTIONAL BUYERS).

NO SALE, PLEDGE OR OTHER TRANSFER OF THIS CERTIFICATE MAY BE MADE BY ANY PERSON
UNLESS EITHER (I) SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO THE TRANSFEROR,
(II) SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO AN INSTITUTIONAL ACCREDITED
INVESTOR THAT EXECUTES A CERTIFICATE, SUBSTANTIALLY IN THE FORM SPECIFIED IN THE
TRUST AGREEMENT, TO THE EFFECT THAT IT IS AN INSTITUTIONAL ACCREDITED INVESTOR
ACTING FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY
OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE INSTITUTIONAL ACCREDITED INVESTORS
UNLESS THE HOLDER IS A BANK ACTING IN ITS FIDUCIARY CAPACITY), (III) SO LONG AS
THIS CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE
SECURITIES ACT, SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO A PERSON WHO THE
TRANSFEROR REASONABLY BELIEVES AFTER DUE INQUIRY IS A "QUALIFIED INSTITUTIONAL
BUYER" (AS DEFINED IN RULE 144A), ACTING FOR ITS OWN ACCOUNT (AND NOT FOR THE
ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE
QUALIFIED INSTITUTIONAL BUYERS) TO WHOM NOTICE IS GIVEN THAT THE SALE, PLEDGE OR
TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, OR (IV) SUCH SALE, PLEDGE OR
OTHER TRANSFER IS OTHERWISE MADE IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT, IN WHICH CASE (A) THE OWNER TRUSTEE SHALL
REQUIRE THAT BOTH THE PROSPECTIVE TRANSFEROR AND THE PROSPECTIVE TRANSFEREE
CERTIFY TO THE OWNER TRUSTEE AND THE TRANSFEROR IN WRITING THE FACTS SURROUNDING
SUCH TRANSFER,

<PAGE>

WHICH CERTIFICATION SHALL BE IN FORM AND SUBSTANCE SATISFACTORY TO THE OWNER
TRUSTEE AND THE TRANSFEROR, AND (B) THE OWNER TRUSTEE MAY REQUIRE A WRITTEN
OPINION OF COUNSEL (WHICH SHALL NOT BE AT THE EXPENSE OF THE TRUST, THE
TRANSFEROR OR THE OWNER TRUSTEE) SATISFACTORY TO THE TRANSFEROR AND THE OWNER
TRUSTEE TO THE EFFECT THAT SUCH TRANSFER WILL NOT VIOLATE THE SECURITIES ACT. NO
SALE, PLEDGE OR OTHER TRANSFER MAY BE MADE TO ANY ONE PERSON FOR CERTIFICATES
WITH A FACE AMOUNT OF LESS THAN $100,000 AND, IN THE CASE OF ANY PERSON ACTING
ON BEHALF OF ONE OR MORE THIRD PARTIES (OTHER THAN A BANK (AS DEFINED IN SECTION
3(A)(2) OF THE SECURITIES ACT) ACTING IN ITS FIDUCIARY CAPACITY), FOR
CERTIFICATES WITH A FACE AMOUNT OF LESS THAN $100,000 FOR EACH SUCH THIRD PARTY.

NO TRANSFER OF THIS CERTIFICATE SHALL BE PERMITTED TO BE MADE TO ANY PERSON
UNLESS THE OWNER TRUSTEE HAS RECEIVED A CERTIFICATE FROM SUCH TRANSFEREE TO THE
EFFECT THAT SUCH TRANSFEREE IS NOT (A) AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN
SECTION 3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
("ERISA")) THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA OR (B) A PLAN
(AS DEFINED IN SECTION 4975(e)(1) OF THE INTERNAL REVENUE CODE OF 1986, AS
AMENDED (THE "CODE")) THAT IS SUBJECT TO SECTION 4975 OF THE CODE (EACH, A
"BENEFIT PLAN"), AND IS NOT ACTING ON BEHALF OF OR INVESTING THE ASSETS OF A
BENEFIT PLAN. EACH TRANSFEREE OF A BENEFICIAL OWNERSHIP INTEREST IN THIS
CERTIFICATE SHALL BE DEEMED TO REPRESENT THAT IT IS NOT A BENEFIT PLAN AND IS
NOT ACTING ON BEHALF OF OR INVESTING THE ASSETS OF A BENEFIT PLAN.

NO TRANSFER OR SALE OF THIS CERTIFICATE SHALL BE PERMITTED TO BE MADE IF THE
TRANSFER OR SALE INCREASES THE NUMBER OF CERTIFICATEHOLDERS TO MORE THAN
NINETY-NINE (99).

THE HOLDER OF THIS CERTIFICATE REPRESENTS, BY VIRTUE OF ITS ACCEPTANCE HEREOF,
(I) THAT IT IS ACQUIRING THIS CERTIFICATE FOR ITS OWN BEHALF AND IS NOT ACTING
AS AGENT OR CUSTODIAN FOR ANY OTHER PERSON OR ENTITY IN CONNECTION WITH SUCH
ACQUISITION, (II) IF THE HOLDER IS A PARTNERSHIP, GRANTOR TRUST OR S CORPORATION
FOR FEDERAL INCOME TAX PURPOSES (A "FLOW-THROUGH ENTITY"), ANY CERTIFICATES OR
CLASS B NOTES OWNED BY SUCH FLOW-THROUGH ENTITY WILL REPRESENT LESS THAN 50% OF
THE VALUE OF ALL THE ASSETS OWNED BY SUCH FLOW-THROUGH ENTITY AND NO SPECIAL
ALLOCATION OF INCOME, GAIN, LOSS, DEDUCTION OR CREDIT FROM SUCH CERTIFICATES
WILL BE MADE AMONG THE BENEFICIAL OWNERS OF SUCH FLOW-THROUGH ENTITY, AND (III)
THE HOLDER IS A UNITED STATES PERSON WITHIN THE MEANING OF THE CODE.

TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN RESTRICTIONS SET FORTH IN
SECTION 3.7 OF THE AGREEMENT.

                                      B-2
<PAGE>

                      TRIAD AUTO RECEIVABLES TRUST 20__-__

                              UNDER TRUST AGREEMENT

                        DATED AS OF ___________, 20__-__

Certificate Number:

        [NAME OF OWNER TRUSTEE], a Delaware banking corporation, not in its
individual capacity but solely as trustee (the "Owner Trustee") under a Trust
Agreement, dated as of _____________, 20__-__, between Triad Financial Special
Purpose LLC, a Delaware limited liability company (the "Transferor") and the
Owner Trustee (the "Trust Agreement"), hereby certifies that
___________________________________________ is the Holder of this Certificate
representing the entire beneficial interest in the Triad Auto Receivables Trust
(the "Trust") created by the Trust Agreement. This Certificate is issued
pursuant to and is entitled to the benefits of the Trust Agreement, and the
Certificateholder by acceptance hereof agrees to be bound by the terms of the
Trust Agreement. Reference is hereby made to the Trust Agreement for a statement
of the rights and obligations of the Certificateholder hereof. The Owner Trustee
may treat the person shown on the register maintained by the Owner Trustee
pursuant to the Trust Agreement as the absolute Certificateholder hereof for all
purposes.

        Capitalized terms used herein without definition have the meanings
ascribed to them in or by reference to the Trust Agreement.

        The Certificateholder hereof, by its acceptance of this Certificate,
warrants and represents to, and agrees with, the Owner Trustee that it shall not
transfer this Certificate except in accordance with the Trust Agreement.

        [The Certificateholder, by acceptance of its Certificate, specifically
acknowledges that it has no right to or interest in any monies at any time held
pursuant to the Spread Account Agreement prior to the release of such monies
pursuant to Section 5.6(d) of the Sale and Servicing Agreement, such monies
being held in trust for the benefit of the Class A Noteholders [and the Note
Insurer]. Notwithstanding the foregoing, in the event that it is ever determined
that provisions of the Sale and Servicing Agreement and the Spread Account
Agreement shall be considered to constitute a security agreement and the
Transferor and the Certificateholder hereby grant to the Collateral Agent for
the benefit of the Class A Noteholders and the Note Insurer a first priority
perfected security interest in such amounts, to be applied as set forth in
Section 3.03 of the Spread Account Agreement. In addition the Certificateholder,
by acceptance of its Certificate, hereby appoints the Transferor as its agent to
pledge a first priority perfected security interest in the Spread Account, and
any amounts held therein from time to time to the Collateral Agent pursuant to
the Spread Account Agreement and agrees to execute and deliver such instruments
of conveyance, assignment, grant and confirmation, as well as financing
statements, in each case as the Note Insurer shall consider reasonably necessary
in order to perfect the Collateral Agent's Security Interest in the Collateral
(as such terms are defined in the Spread Account Agreement).]

                                      B-3
<PAGE>

        This Certificate and the Trust Agreement shall in all respects be
governed by, and construed in accordance with, the laws of the State of
Delaware, without regard to conflict-of-law principles.

                                      B-4
<PAGE>

        IN WITNESS WHEREOF, the Trust, pursuant to the Trust Agreement, has
caused this Certificate to be issued as of the date hereof.

                                     TRIAD AUTO RECEIVABLES TRUST 20__-__

                                     By: [Name of Owner Trustee],
                                         not in its individual capacity
                                         but solely as Owner Trustee

                                     By: ______________________________________
                                         Name:
                                         Title:

Dated: ____________, 20__-__

        This is one of the Certificates referred to in the within-mentioned
Agreement.

                                     [NAME OF OWNER TRUSTEE],
                                     not in its individual capacity
                                     but solely as Owner Trustee

                                     By: [Name of Owner Trustee],
                                         Authenticating Agent

                                     By: ______________________________________
                                         Name:
                                         Title:

Dated: ___________, 20__-__

                                      B-5
<PAGE>

                                   ASSIGNMENT

        FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers
unto

PLEASE INSERT SOCIAL SECURITY
OR OTHER IDENTIFYING NUMBER
OF ASSIGNEE

--------------------------------------------------------------------------------
(Please print or typewrite name and address, including postal zip code, of
assignee)

--------------------------------------------------------------------------------
the within Certificate, and all rights thereunder, hereby irrevocably
constituting and appointing

_____________________________________ Attorney to transfer said Certificate on
the books of the Certificate Registrar, with full power of substitution in the
premises.

Dated:

                                                                              *
                                               --------------------------------

                                                                              *
                                               --------------------------------

* NOTICE: The signature to this assignment must correspond with the name as it
appears upon the face of the within Certificate in every particular, without
alteration, enlargement or any change whatever.

                                      B-6
<PAGE>

                                                                      EXHIBIT C

                    [FORM OF "QUALIFIED INSTITUTIONAL BUYER"
                            TRANSFEREE'S CERTIFICATE]

                                     [Date]

[Name of Owner Trustee]
_______________________
_______________________
_________, __  ________

Attn: _________________

Triad Financial Special Purpose LLC
711 Center Avenue, Suite 100
Huntington Beach, California 92647
Attn:  President

                Re: Triad Auto Receivables Trust 20__-__

Ladies and Gentlemen:

        In connection with the proposed purchase by the buyer listed below (the
"Buyer") of the Certificates (as defined below) issued pursuant to the Trust
Agreement, dated as of ______________, 20__-__ (the "Trust Agreement"), between
Triad Financial Special Purpose LLC., as transferor (the "Transferor") and [Name
of owner trustee], as trustee (the "Owner Trustee"), relating to Triad Auto
Receivables Trust 20__-__ (the "Certificates"), the Buyer advises you as
follows: (i) the Buyer is a "qualified institutional buyer" as that term is
defined in Rule 144A under the Securities Act of 1933, as amended (the "1933
Act") and is acquiring beneficial ownership of the Certificates for its own
account or for the account of not more than _ persons, each of which is a
"qualified institutional buyer"; and (ii) the Buyer satisfies the requirements
of paragraph (a)(2)(ii) of Rule 3a-7 under the Investment Company Act of 1940,
as amended (the "1940 Act"). In addition to the foregoing, you may rely on the
information provided in Annex 1 or 2, as applicable, attached hereto and
incorporated herein.

        The Buyer understands that the Certificates have not been registered
under the 1933 Act or the securities laws of any state. The Buyer acknowledges
that it has independently conducted such investigation and evaluation of the
merits and the risks involved in an investment in the Certificates and has
received such information (whether from the Transferor, the Owner Trustee, the
transferor from which it proposes to purchase Certificates, or from any other
source) as the Buyer has deemed necessary and advisable in order to make its
investment decision. The Buyer has had any questions arising from such
investigation and evaluation answered by the Transferor to the satisfaction of
the Buyer. The Buyer is a sophisticated institutional investor, having such
knowledge and experience in financial and business matters generally, and with
respect to asset-backed securities and investments in "non-prime" automobile
loans specifically, that it is capable of independently evaluating the merits
and risks of investment in the Certificates. In the normal course of its
business, the Buyer invests in or purchases securities

<PAGE>

similar to the Certificates. The Buyer is aware that it may be required to bear
the economic risk of an investment in the Certificates for an indefinite period
of time, and it is able to bear such risk for an indefinite period.

                                     Very truly yours,

                                     [BUYER]

                                     By: ______________________________________
                                     Name:
                                     Title:

                                     Taxpayer ID:______________________________

                                     Name in which Certificate is to be
                                     Registered:

                                     __________________________________________

                                     Address for Notices:

                                     __________________________________________

                                     Payment Instructions:

                                     __________________________________________

                                       C-2

<PAGE>

                                                            ANNEX 1 TO EXHIBIT C

            QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

             [For Buyers Other Than Registered Investment Companies]

        The undersigned hereby certifies as follows to the parties listed in the
"Qualified Institutional Buyer" Transferee's Certificate to which this
certification relates with respect to the Rule 144A Securities described
therein:

        1. As indicated below, the undersigned is the President, Chief Financial
Officer, Senior Vice President or other executive officer of the Buyer.

        2. In connection with purchases by the Buyer, the Buyer is a "qualified
institutional buyer" as that term is defined in Rule 144A under the Securities
Act of 1933 ("Rule 144A") because (i) the Buyer owned and/or invested on a
discretionary basis $_________________(1) in securities (except for the excluded
securities referred to below) as of the end of the Buyer's most recent fiscal
year (such amount being calculated in accordance with Rule 144A) and (ii) the
Buyer satisfies the criteria in the category marked below.

[ ] Corporation, etc. The Buyer is a corporation (other than a bank, savings and
loan association or similar institution), Massachusetts or similar business
trust, partnership, or charitable organization described in Section 501(c)(3) of
the Internal Revenue Code of 1986, as amended.

[ ] Bank. The Buyer (a) is a national bank or banking institution organized
under the laws of any State, territory or the District of Columbia, the business
of which is substantially confined to banking and is supervised by the State or
territorial banking commission or similar official or is a foreign bank or
equivalent institution, and (b) has an audited net worth of at least $25,000,000
as demonstrated in its latest annual financial statements, a copy of which is
attached hereto.

[ ] Savings and Loan. The Buyer (a) is a savings and loan association, building
and loan association, cooperative bank, homestead association or similar
institution, which is supervised and examined by a State or Federal authority
having supervision over any such institutions or is a foreign savings and loan
association or equivalent institution and (b) has an audited net worth of at
least $25,000,000 as demonstrated in its latest annual financial statements, a
copy of which is attached hereto.

[ ] Broker-dealer. The Buyer is a dealer registered pursuant to Section 15 of
the Securities Exchange Act of 1934.

----------

(1) Buyer must own and/or invest on a discretionary basis at least $100,000,000
in securities unless Buyer is a dealer, and, in that case, Buyer must own and/or
invest on a discretionary basis at least $10,000,000 in securities.

                                      C-3
<PAGE>

[ ] Insurance Company. The Buyer is an insurance company whose primary and
predominant business activity is the writing of insurance or the reinsuring of
risks underwritten by insurance companies and which is subject to supervision by
the insurance commissioner or a similar official or agency of a State, territory
or the District of Columbia.

[ ] State or Local Plan. The Buyer is a plan established and maintained by a
State, its political subdivisions, or any agency or instrumentality of the State
or its political subdivisions, for the benefit of its employees.

[ ] ERISA Plan. The Buyer is an employee benefit plan within the meaning of
Title I of the Employee Retirement Income Security Act of 1974.

[ ] Investment Advisor. The Buyer is an investment advisor registered under the
Investment Advisers Act of 1940.

[ ] Small Business Investment Company. Buyer is a small business investment
company licensed by the U.S. Small Business Administration under Section 301(c)
or (d) of the Small Business Investment Act of 1958.

[ ] Business Development Company. Buyer is a business development company as
defined in Section 202(a)(22) of the Investment Advisors Act of 1940.

[ ] Trust Fund. The Buyer is a trust fund whose trustee is a bank or trust
company and whose participants are exclusively State or Local Plans or ERISA
Plans as defined above, and no participant of the Buyer is an individual
retirement account or an H.R. 10 (Keogh) plan.

        3. The term "securities" as used herein does not include (i) securities
of issuers that are affiliated with the Buyer, (ii) securities that are part of
an unsold allotment to or subscription by the Buyer, if the Buyer is a dealer,
(iii) bank deposit notes and certificates of deposit, (iv) loan participations,
(v) repurchase agreements, (vi) securities owned but subject to a repurchase
agreement and (vii) currency, interest rate and commodity swaps.

        4. For purposes of determining the aggregate amount of securities owned
and/or invested on a discretionary basis by the Buyer, the Buyer used the cost
of such securities to the Buyer and did not include any of the securities
referred to in the preceding paragraph, except (i) where the Buyer reports its
securities holdings in its financial statements on the basis of their market
value, and (ii) no current information with respect to the cost of those
securities has been published. If clause (ii) in the preceding sentence applies,
the securities may be valued at market. Further, in determining such aggregate
amount, the Buyer may have included securities owned by subsidiaries of the
Buyer, but only if such subsidiaries are consolidated with the Buyer in its
financial statements prepared in accordance with generally accepted accounting
principles and if the investments of such subsidiaries are managed under the
Buyer's direction. However, such securities were not included if the Buyer is a
majority-owned, consolidated subsidiary of another enterprise and the Buyer is
not itself a reporting company under the Securities Exchange Act of 1934.

        5. The Buyer acknowledges that it is familiar with Rule 144A and
understands that the seller to it and other parties related to the Certificates
are relying and will

                                      C-4
<PAGE>

continue to rely on the statements made herein because one or more sales to the
Buyer may be in reliance on Rule 144A.

        6. Until the date of purchase of the Rule 144A Securities, the Buyer
will notify each of the parties to which this certification is made of any
changes in the information and conclusions herein. Until such notice is given,
the Buyer's purchase of Rule 144A Securities will constitute a reaffirmation of
this certification as of the date of such purchase. In addition, if the Buyer is
a Bank or Savings and Loan as provided above, the Buyer agrees that it will
furnish to such parties updated annual financial statements promptly after they
become available.

                                     __________________________________________

                                     Print Name of Buyer

                                     By: ______________________________________
                                     Name:
                                     Title:

                                     Date:

                                      C-5
<PAGE>

                                                           ANNEX 2 TO EXHIBIT C

            QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

              [For Buyers that are Registered Investment Companies]

        The undersigned hereby certifies as follows to the parties listed in the
"Qualified Institutional Buyer" Transferee's Certificate to which this
certification relates with respect to the Rule 144A Securities described
therein:

        1. As indicated below, the undersigned is the President, Chief Financial
Officer or Senior Vice President of the Buyer or, if the Buyer is a "qualified
institutional buyer" as that term is defined in Rule 144A under the Securities
Act of 1933 ("Rule 144A") because Buyer is part of a Family of Investment
Companies (as defined below), is such an officer of the Adviser.

        2. In connection with purchases by Buyer, the Buyer is a "qualified
institutional buyer" as defined in SEC Rule 144A because (i) the Buyer is an
investment company registered under the Investment Company Act of 1940, and (ii)
as marked below, the Buyer alone, or the Buyer's Family of Investment Companies,
owned at least $100,000,000 in securities (other than the excluded securities
referred to below) as of the end of the Buyer's most recent fiscal year. For
purposes of determining the amount of securities owned by the Buyer or the
Buyer's Family of Investment Companies, the cost of such securities was used,
except (i) where the Buyer or the Buyer's Family of Investment Companies reports
its securities holdings in its financial statements on the basis of their market
value, and (ii) no current information with respect to the cost of those
securities has been published. If clause (ii) in the preceding sentence applies,
the securities may be valued at market.

        [ ] The Buyer owned $__________ in securities (other than the excluded
        securities referred to below) as of the end of the Buyer's most recent
        fiscal year (such amount being calculated in accordance with Rule 144A).

        [ ] The Buyer is part of a Family of Investment Companies which owned in
        the aggregate $__________ in securities (other than the excluded
        securities referred to below) as of the end of the Buyer's most recent
        fiscal year (such amount being calculated in accordance with Rule 144A).

        3. The term "Family of Investment Companies" as used herein means two or
more registered investment companies (or series thereof) that have the same
investment adviser or investment advisers that are affiliated (by virtue of
being majority owned subsidiaries of the same parent or because one investment
adviser is a majority owned subsidiary of the other).

        4. The term "securities" as used herein does not include (i) securities
of issuers that are affiliated with the Buyer or are part of the Buyer's Family
of Investment Companies, (ii) bank deposit notes and certificates of deposit,
(iii) loan participations, (iv) repurchase agreements, (v) securities owned but
subject to a repurchase agreement and (vi) currency, interest rate and commodity
swaps.

                                      C-6
<PAGE>

        5. The Buyer is familiar with Rule 144A and understands that the parties
listed in the Qualified Institutional Buyer Transferee's Certificate to which
this certification relates are relying and will continue to rely on the
statements made herein because one or more sales to the Buyer will be in
reliance on Rule 144A. In addition, the Buyer will only purchase for the Buyer's
own account.

        6. Until the date of purchase of the Rule 144A Securities, the
undersigned will notify each of the parties to which this certification is made
of any changes in the information and conclusions herein. Until such notice is
given, the Buyer's purchase of Rule 144A Securities will constitute a
reaffirmation of this certification by the undersigned as of the date of such
purchase.

                                     __________________________________________

                                     Print Name of Buyer or Adviser

                                     By: ______________________________________
                                     Name:
                                     Title:

                                     IF AN ADVISER:

                                     __________________________________________
                                     Print Name of Buyer

                                     Date:

                                      C-7
<PAGE>

                                                                      EXHIBIT D

            [FORM OF "ACCREDITED INVESTOR" TRANSFEREE'S CERTIFICATE]

                                     [Date]

[Name of Owner Trustee]
_______________________
_______, _______ ______
Attn: _________________

Triad Financial Special Purpose LLC
711 Center Avenue, Suite 100
Huntington Beach, California 92647

                Re: Triad Auto Receivables Trust 20__-__

Dear Sirs:

        In connection with the proposed purchase by the buyer listed below (the
"Buyer") of Certificates (as defined below) issued pursuant to the Trust
Agreement, dated as of ______________, 20__-__ (the "Trust Agreement"), between
Triad Financial Special Purpose LLC as transferor (the "Transferor"), and [Name
of owner trustee], as trustee (the "Owner Trustee"), relating to Triad Auto
Receivables Trust 20__-__ (the "Certificates"), the Buyer confirms that:

        1. The Buyer understands that the Certificates have not been registered
under the Securities Act of 1933, as amended (the "1933 Act"), and may not be
sold except as permitted in the following sentence. The Buyer agrees, on its own
behalf and on behalf of any accounts for which it is acting as hereinafter
stated, that such Certificates may be resold, pledged or transferred only: (i)
so long as such Certificates are eligible for resale pursuant to Rule 144A under
the 1933 Act ("Rule 144A"), to a person who the Buyer reasonably believes is a
"qualified institutional buyer" as defined in Rule 144A (a "QIB") that purchases
for its own account or for the account of a QIB, to whom notice is given that
the resale, pledge or transfer is being made in reliance on Rule 144A, (ii)
pursuant to an exemption from registration under the 1933 Act provided by Rule
144 (if applicable) under the 1933 Act or (iii) to an institution that is an
"Accredited Investor" as defined in Rule 501(a)(1), (2), (3) or (7) under the
1933 Act (an "Accredited Investor") that is acquiring the Certificates for
investment purposes and not for distribution, in each case in accordance with
any applicable securities laws of any state of the United States, and the Buyer
will notify any purchaser of the Certificates from it of the above resale
restrictions. The Buyer further understands that in connection with any transfer
of the Certificates to an Accredited Investor by it that the Transferor or Owner
Trustee may request, and if so requested the Buyer will furnish, such
certificates and other information as they may reasonably require to confirm any
such transfer with the foregoing restrictions.

<PAGE>

        2. The Buyer is an institutional investor which is an Accredited
Investor or, if the Certificates are to be purchased for one or more
institutional accounts ("investor accounts") for which it is acting as fiduciary
or agent (except if it is a bank as defined in Section 3(a)(2) of the 1933 Act,
or a savings and loan association or other institution as described in Section
3(a)(5)(A) of the 1933 Act, whether acting in its individual or in a fiduciary
capacity), each such investor account is an institutional investor and an
Accredited Investor on a like basis. In the normal course of its business, the
Buyer invests in or purchases securities similar to the Certificates.

        3. The Buyer satisfies the requirements of paragraph (a)(2)(i) of Rule
3a-7 of the Investment Company Act of 1940, as amended.

        4. The Buyer acknowledges that it has independently conducted such
investigation and evaluation of the merits and the risks involved in an
investment in the Certificates and has received such information (whether from
the Transferor, the Servicer, the transferor from which it proposes to purchase
Certificates, or from any other source) as the Buyer has deemed necessary and
advisable in order to make its investment decision. The Buyer has had any
questions arising from such investigation and evaluation answered by the
Transferor to the satisfaction of the Buyer. The Buyer is a sophisticated
institutional investor, having such knowledge and experience in financial and
business matters generally, and with respect to asset-backed securities and
investments in "non-prime" automobile loans specifically, that it is capable of
independently evaluating the merits and risks of investment in the Certificates.
In the normal course of its business, the Buyer invests in or purchases
securities similar to the Certificates. The Buyer is aware that it (or any
investor account) may be required to bear the economic risk of an investment in
the Certificates for an indefinite period of time, and it (or such account) is
able to bear such risk for an indefinite period.

                                     Very truly yours,

                                     [BUYER]

                                     By: ______________________________________
                                     Name:
                                     Title:

                                      D-2
<PAGE>

                                                                      EXHIBIT E

                       [FORM OF TRANSFEROR'S CERTIFICATE]

                                     [Date]

[Name of Owner Trustee]
_______________________
________, ______ ______
Attn: _________________

                Re: Triad Auto Receivables Trust 20__-__

Ladies and Gentlemen:

        In connection with the disposition by the transferor listed below (the
"Transferor") of Certificates (as defined below) issued pursuant to the Trust
Agreement, dated as of _______________, 20__-__ (the "Trust Agreement") between
Triad Financial Special Purpose, as transferor (the "Transferor"), and [Name of
owner trustee], as trustee (the "Owner Trustee"), relating to Triad Auto
Receivables Trust 20__-__ (the "Certificates"), the Transferor certifies that:

        (a) the Transferor understands that the Certificates have not been
registered under the Securities Act of 1933, as amended (the "1933 Act"), and
are being disposed of by the Transferor in a transaction that is exempt from the
registration requirements of the 1933 Act; and

        (b) the Transferor has not offered or sold any Certificates to, or
solicited offers to buy any Certificates from, any person, or otherwise
approached or negotiated with any person with respect thereto, in a manner that
would be deemed, or taken any other action which would result in, a violation of
Section 5 of the 1933 Act.

                                     Very truly yours,

                                     [NAME OF TRANSFEROR]

                                     By: ______________________________________
                                     Name:
                                     Title:

<PAGE>

                                                                      EXHIBIT F

                           [FORM OF ERISA CERTIFICATE]

                                     [Date]

[Name of Owner Trustee]
_______________________
_______________________
________, ______ ______
Attn: _________________

Triad Financial Special Purpose LLC
711 Center Avenue, Suite 100
Huntington Beach, California 92647

                Re: Triad Auto Receivables Trust 20__-__

Ladies and Gentlemen:

[NAME OF OFFICER] hereby certifies that:

        1. That he [she] is [Title of Officer] ____________________ of [Name of
Transferee] ___________________________________________ (the "Transferee"), a
[savings institution] [corporation] duly organized and existing under the laws
of [the State of ________] [the United States], on behalf of which he [she]
makes this affidavit.

        2. The Transferee (1) is not, and on _______________ [insert date of
transfer of Certificate to Transferee] will not be, and on such date will not be
acting on behalf of or investing the assets of (a) an "employee benefit plan"
(as defined in Section 3(3) of the Employee Retirement Income Security Act of
1974, as amended ("ERISA")) that is subject to the provisions of Title I of
ERISA or (b) a "plan" (as defined in Section 4975(e)(1) of the Internal Revenue
Code of 1986, as amended (the "Code")) that is subject to Section 4975 of the
Code (each, a "Benefit Plan").

        3. In connection with the proposed purchase by the Transferee of the
Certificate issued pursuant to the Trust Agreement (the "Agreement") between
Triad Financial Special Purpose LLC, as Transferor (the "Transferor"), and [Name
of owner trustee], as trustee (the "Owner Trustee"), dated as of ___________,
20__-__, the Transferee hereby acknowledges that under the terms of the
Agreement no transfer of any Certificate (as defined in the Agreement) shall be
permitted to be made to any person unless the Owner Trustee has received a
certificate from such transferee to the effect that such transferee is not a
Benefit Plan and is not acting on behalf of or investing the assets of a Benefit
Plan.

<PAGE>

        [4. The Certificates shall be registered in the name of
_______________________ as nominee for the Transferee.]

        IN WITNESS WHEREOF, the Transferee has caused this instrument to be
executed on its behalf, pursuant to authority of its Board of Directors, by its
[Title of Officer] _______________, this__ day of ____________.

                                     [NAME OF TRANSFEREE]

                                     By: ______________________________________
                                         Name:
                                         Title:

The undersigned hereby acknowledges that
it is holding and will hold the Trust
Certificates at the exclusive direction
of and as nominee of the Investor named
above.

[NAME OF NOMINEE]

By: ______________________________________
    Name:
    Title:

                                      F-2

<PAGE>

                                                                      EXHIBIT G

                    [FORM OF FLOW THROUGH ENTITY CERTIFICATE]

                                     [Date]

[Name of Owner Trustee]
_______________________
________, _______ _____
Attn: _________________

Triad Financial Special Purpose LLC
711 Center Avenue, Suite 100
Huntington Beach, California 92647

                Re: Triad Auto Receivables Trust 20__-__

Ladies and Gentlemen:

[NAME OF OFFICER] hereby certifies that:

        1. That he [she] is [Title of Officer] ____________ of [Name of
Transferee] _______________________________ (the "Transferee"), a [savings
institution] [corporation] duly organized and existing under the laws of [the
State of ____________] [the United States], on behalf of which he [she] makes
this affidavit.

        2. The Transferee (a) is acquiring the Certificate (as defined below)
for its own behalf and is not acting as agent or custodian for any other person
or entity in connection with such acquisition, (b) if the Transferee is a
partnership, grantor trust or S corporation for federal income tax purposes (a
"Flow Through Entity"), any Certificate owned by such Flow Through Entity will
represent less than 50% of the value of all the assets owned by such Flow
Through Entity and no special allocation of income, gain, loss, deduction or
credit from such Certificate will be made among the beneficial owners of such
Flow Through Entity, and (c) the Transferee is a United States person within the
meaning of the Internal Revenue Code of 1986, as amended.

        3. The Transferee hereby acknowledges that under the terms of the Trust
Agreement (the "Agreement") between Triad Financial Special Purpose LLC, as
transferor (the "Transferor"), and [Name of owner trustee], as trustee (the
"Owner Trustee"), dated as of _____________, 20__-__ no transfer of any
Certificate (as defined in the Agreement) shall be permitted to be made to any
person unless the Owner Trustee has received a certificate from such transferee
to the effect that such transferee (a) is acquiring the Certificate for its own
behalf and is not acting as agent or custodian for any other person or entity in
connection with such acquisition, (b) if the transferee is a partnership,
grantor trust or S corporation for federal income tax purposes (a "Flow

<PAGE>

Through Entity"), any Certificate owned by such Flow Through Entity will
represent less than 50% of the value of all the assets owned by such Flow
Through Entity and no special allocation of income, gain, loss, deduction or
credit from such Certificate will be made among the beneficial owners of such
Flow Through Entity, and (c) the transferee is a United States person within the
meaning of the Internal Revenue Code of 1986 as amended.

        [4. The Certificates shall be registered in the name of as nominee for
the Transferee.]

        IN WITNESS WHEREOF, the Transferee has caused this instrument to be
executed on its behalf, pursuant to authority of its Board of Directors, by its
[Title of Officer) _____________________________, this ___ day of ___________.

                                     [NAME OF TRANSFEREE]

                                     By: ______________________________________
                                         Name:
                                         Title:

The undersigned hereby acknowledges that
it is holding and will hold the Trust
Certificates at the exclusive direction
of and as nominee of the Investor named
above.

[NAME OF NOMINEE]

By: ______________________________________
Name:
Title:<PAGE>
                                                                    EXHIBIT 10.1

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

                               PURCHASE AGREEMENT

                                     between

                             TRIAD FINANCIAL CORP.,

                                       and

                     [TRIAD FINANCIAL SPECIAL PURPOSE LLC,]

                          Dated as of __________, 20__

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

<PAGE>

                                TABLE OF CONTENTS

                                                                            Page

ARTICLE I CERTAIN DEFINITIONS..............................................   1

ARTICLE II PURCHASE AND SALE OF RECEIVABLES................................   2

ARTICLE III REPRESENTATIONS AND WARRANTIES.................................   3

ARTICLE IV CONDITIONS......................................................  15

ARTICLE V COVENANTS OF Triad...............................................  17

ARTICLE VI MISCELLANEOUS PROVISIONS........................................  22

ANNEX A - Defined Terms

EXHIBIT A - Assignment

SCHEDULE A - Schedule of Receivables

<PAGE>

               PURCHASE AGREEMENT dated as of __________, 20__, by and between
TRIAD FINANCIAL CORP., a California corporation ("Triad"), having its principal
executive office at 711 Center Avenue, Suite 100, Huntington Beach, California
92647 and [TRIAD FINANCIAL SPECIAL PURPOSE LLC], a Delaware limited liability
company (the "Transferor"), having its principal executive office at 711 Center
Avenue, Suite 390, Huntington Beach, California 92647.

               WHEREAS, in the regular course of its business, Triad purchases
and services through its auto loan programs certain motor vehicle retail
installment sale contracts secured by new and used automobiles, vans, sport
utility vehicles or light duty trucks acquired from motor vehicle dealers; and

               WHEREAS, Triad and the Transferor wish to set forth the terms
pursuant to which the Receivables are to be sold by Triad to the Transferor,
which Receivables together with the other Trust Assets will be conveyed by the
Transferor to the Issuer pursuant to the [Sale and Servicing Agreement/Pooling
and Servicing Agreement].

               NOW, THEREFORE, in consideration of the foregoing, other good and
valuable consideration, and the mutual terms and covenants contained herein, the
parties hereto agree as follows:

                                    ARTICLE I
                               CERTAIN DEFINITIONS

               Capitalized terms used herein shall have the meanings set forth
in Annex A attached hereto.

               1.1. Action by or Consent of Security Holders. Whenever any
provision of this Purchase Agreement refers to action to be taken, or consented
to, by Security Holders, such provision shall be deemed to refer to Security
Holders of record as of the Record Date immediately preceding the date on which
such action is to be taken, or consent given, by Security Holders. Solely for
the purposes of any action to be taken, or consented to, by Security Holders,
any Security registered in the name of Triad or any Affiliate thereof (other
than a Security pledged by Triad or an Affiliate to a nonaffiliated third party)
shall be deemed not to be outstanding and the aggregate principal balance
evidenced thereby shall not be taken into account in determining whether the
requisite principal balance necessary to effect any such action or consent has
been obtained; provided, however, that, solely for the purpose of determining
whether the Indenture Trustee or Trust Collateral Agent is entitled to rely upon
any such action or consent, only Securities the Indenture Trustee or Trust
Collateral Agent knows to be so owned shall be so disregarded.

               1.2. Material Adverse Effect. Whenever a determination is to be
made under this Purchase Agreement as to whether a given event, action, course
of conduct or set of facts or circumstances could or would have a material
adverse effect on the Issuer or the Security Holders (or any similar or
analogous determination), [such determination shall be made without taking into
account the funds available from claims under the Policy]. Whenever a
determination is to be made under this Purchase Agreement whether a breach of a
representation,

<PAGE>

warranty or covenant has or could have a material adverse effect on a Receivable
or the interest therein of the Issuer, the Security Holders [or the Security
Insurer] (or any similar or analogous determination), such determination shall
be made by [the Security Insurer in its sole discretion so long as no Security
Insurer Default shall have occurred and be continuing].

                                   ARTICLE II

                        PURCHASE AND SALE OF RECEIVABLES

               2.1. Purchase and Sale of Receivables. On the Closing Date,
subject to the terms and conditions of this Purchase Agreement, Triad agrees to
sell to the Transferor, and the Transferor agrees to purchase from Triad,
without recourse (subject to the obligations in this Purchase Agreement and the
[Sale and Servicing Agreement/Pooling and Servicing Agreement]), all of Triad's
right, title and interest in, to and under the Receivables and the other
Transferred Property relating thereto. The conveyance to the Transferor of the
Receivables and other Transferred Property relating thereto is intended as a
sale free and clear of all liens and it is intended that such Transferred
Property and other property of the Transferor shall not be part of Triad's
estate in the event of the filing of a bankruptcy petition by or against Triad
under any bankruptcy law.

               (a) Transfer of Receivables. On the Closing Date and
simultaneously with the transactions to be consummated pursuant to the [Sale and
Servicing Agreement/Pooling and Servicing Agreement], Triad shall sell,
transfer, assign, grant, set over and otherwise convey to the Transferor,
without recourse (subject to the obligations herein and in the [Sale and
Servicing Agreement/Pooling and Servicing Agreement]), all right, title and
interest of Triad in, to and under: (i) the Receivables listed in Schedule A
hereto, all monies received on the Receivables after the Cutoff Date and, with
respect to any Receivables which are Precomputed Receivables, the related
Payahead Amount, and all Liquidation Proceeds and Recoveries received with
respect to the Receivables; (ii) the security interests in the related Financed
Vehicles granted by the related Obligors pursuant to the Receivables and any
other interest of Triad in such Financed Vehicles, including, without
limitation, the certificates of title and any other evidence of ownership with
respect to such Financed Vehicles; (iii) any proceeds from claims on any
physical damage, credit life and credit accident and health insurance policies
or certificates or the VSI Policy, if any, relating to the related Financed
Vehicles or the related Obligors, including any rebates and premiums; (iv)
property (including the right to receive future Liquidation Proceeds) that
secures a Receivable and that has been acquired pursuant to the liquidation of
such Receivable; (v) refunds for the costs of extended service contracts with
respect to the related Financed Vehicles, refunds of unearned premiums with
respect to credit life and credit accident and health insurance policies or
certificates covering a related Obligor or Financed Vehicle or his or her
obligations with respect to such Financed Vehicle and any recourse to Dealers
for any of the foregoing; (vi) the Legal Files and the Receivable Files related
to each Receivable and any and all other documents that Triad keeps on file in
accordance with its customary procedures relating to the Receivables, the
related Obligors or the related Financed Vehicles; (vii) all amounts and
property from time to time held in or credited to the Lock-Box Account, to the
extent such amounts and property relate to the Receivables; (viii) any proceeds
from recourse against Dealers (other than any Chargeback Obligations) including,
without limitation, any Dealer Title Guaranties with respect to the Receivables,
with respect to the sale of

                                       2
<PAGE>

the Receivables; and (ix) the proceeds of any and all of the foregoing
(collectively, the property set forth in clauses (i) through (ix) above, the
"Transferred Property").

               (b) Receivables Purchase Price. In consideration for the
Receivables and other Transferred Property described in Section 2.1(a), the
Transferor shall, on the Closing Date, pay to Triad, the Receivables Purchase
Price to Triad on the Closing Date. The Receivables Purchase Price shall be paid
by federal wire transfer (same day) funds.

               2.2. The Closing. The sale and purchase of the Receivables and
the other Transferred Property relating thereto shall take place at a closing
(the "Closing") at the offices of Dewey Ballantine LLP, 1301 Avenue of the
Americas, New York, New York 10019 on the Closing Date, simultaneously with the
closings under: (a) the [Sale and Servicing Agreement/Pooling and Servicing
Agreement] pursuant to which the Transferor will convey all of its right, title
and interest in and to the Receivables and the other Trust Assets to the Issuer;
(b) the Indenture pursuant to which the Issuer will pledge all of its right,
title and interest in and to the Receivables and the other Pledged Property to
the Indenture Trustee for the benefit of the Security Holders [and the Security
Insurer]; (c) the Trust Agreement pursuant to which the Issuer shall be formed
and the Certificate issued to the Transferor and (d) the Underwriting Agreement
pursuant to which the Issuer shall sell the Securities.

                                   ARTICLE III

                         REPRESENTATIONS AND WARRANTIES

               3.1. Representations and Warranties of the Transferor. The
Transferor hereby represents and warrants to Triad as of the date hereof and as
of the Closing Date, on which Triad relies in selling the Receivables and the
other Transferred Property, on which the Issuer relies in pledging the
Receivables and the other Pledged Property to the Indenture Trustee under the
Indenture [and on which the Security Insurer will rely in issuing the Policy]:

               (a) Organization and Good Standing. The Transferor is duly
organized and validly existing as a [limited liability company] in good standing
under the laws of the State of Delaware, with the power and authority to own its
properties and to conduct its business as such properties are currently owned
and such business is presently conducted, and had at all relevant times, and
has, the power, authority and legal right to acquire and own the Receivables and
the other Transferred Property and to convey the Receivables and the other
Transferred Property to the Issuer pursuant to the [Sale and Servicing
Agreement/Pooling and Servicing Agreement] and to perform its other obligations
under this Purchase Agreement the [Sale and Servicing Agreement/Pooling and
Servicing Agreement] and any other Basic Documents to which it is a party.

               (b) Due Qualification. The Transferor is duly qualified to do
business as a foreign [limited liability company] in good standing, and has
obtained all necessary licenses and approvals, in all jurisdictions in which the
ownership or lease of its property or the conduct of its business (including,
without limitation, the purchase of the Receivables from Triad hereunder, the
conveyance of the Receivables by the Transferor pursuant to the [Sale and
Servicing Agreement/Pooling and Servicing Agreement], and the performance of its
other obligations

                                       3
<PAGE>

under this Purchase Agreement, the [Sale and Servicing Agreement/Pooling and
Servicing Agreement] and the other Basic Documents to which it is a party) shall
require such qualifications, licenses and/or approvals, other than where the
failure to obtain such license or approval would not have a material adverse
effect on the ability of the Transferor to perform its obligations under this
Purchase Agreement, the [Sale and Servicing Agreement/Pooling and Servicing
Agreement] or any other Basic Document to which it is a party, on any Receivable
or on the interest therein of the Issuer, the Security Holders [or the Security
Insurer].

               (c) Power and Authority. The Transferor has the power and
authority to execute and deliver this Purchase Agreement and the other Basic
Documents to which it is a party and to carry out their respective terms and the
execution, delivery and performance of this Purchase Agreement and the other
Basic Documents to which it is a party have been duly authorized by the
Transferor by all necessary corporate action.

               (d) Binding Obligation. Each of this Purchase Agreement and each
other Basic Document to which the Transferor is a party shall constitute a
legal, valid and binding obligation of the Transferor enforceable in accordance
with its terms, except only as such enforcement may be limited by bankruptcy,
insolvency or similar laws affecting the enforcement of creditors' rights
generally.

               (e) No Violation. The execution, delivery and performance by the
Transferor of this Purchase Agreement and the other Basic Documents to which it
is a party and the consummation of the transactions contemplated hereby and
thereby and the fulfillment of the terms hereof and thereof do not conflict
with, result in a breach of any of the terms and provisions of, nor constitute
(with or without notice or lapse of time) a default under, the [limited
liability company agreement] of the Transferor, or any indenture, agreement,
mortgage, deed of trust, or other instrument to which the Transferor is a party
or by which it is bound or to which any of its properties are subject; nor
result in the creation or imposition of any Lien upon any of its properties
pursuant to the terms of any indenture, agreement, mortgage, deed of trust, or
other instrument (other than the Basic Documents and the Credit and Security
Agreement); nor violate any law, order, rule or regulation applicable to the
Transferor of any court or of any Federal or State regulatory body,
administrative agency or other governmental instrumentality having jurisdiction
over the Transferor or its properties.

               (f) No Proceedings. There are no proceedings or investigations
pending, or to the Transferor's best knowledge, threatened, before any court,
regulatory body, administrative agency or other governmental instrumentality
having jurisdiction over the Transferor or its properties: (A) asserting the
invalidity of this Purchase Agreement, the [Sale and Servicing Agreement/Pooling
and Servicing Agreement], the Securities or any other Basic Document; (B)
seeking to prevent the issuance of the Securities or the consummation of any of
the transactions contemplated by this Purchase Agreement, the [Sale and
Servicing Agreement/Pooling and Servicing Agreement] or any other Basic Document
to which it is a party; (C) seeking any determination or ruling that might
materially and adversely affect the performance by the Transferor of its
obligations under, or the validity or enforceability of, this Purchase
Agreement, the [Sale and Servicing Agreement/Pooling and Servicing Agreement],
the Securities or any other Basic Document to which it is a party; or (D)
relating to the Transferor and which might

                                       4
<PAGE>

adversely affect the Federal or State income, excise, franchise or similar tax
attributes of the Securities.

               (g) No Consents. No consent, approval, authorization or order of
or declaration or filing with any governmental authority is required to be
obtained by the Transferor for the issuance or sale of the Securities or the
consummation of the other transactions contemplated by this Purchase Agreement,
the [Sale and Servicing Agreement/Pooling and Servicing Agreement] or any other
Basic Document to which it is a party, except such as have been duly made or
obtained or where the failure to obtain such consent, approval, authorization,
order or declaration, or to make such filing, would not have a material adverse
effect on the ability of the Transferor to perform its obligations under this
Purchase Agreement, the [Sale and Servicing Agreement/Pooling and Servicing
Agreement] or any other Basic Document to which it is a party or on any
Receivable or the interest therein of the Issuer, the Security Holders [or the
Security Insurer].

               (h) Valid Assignment. Each Receivable has been validly assigned
by the Transferor to the Issuer on the Closing Date pursuant to the [Sale and
Servicing Agreement/Pooling and Servicing Agreement]; and no Receivable has been
sold, transferred, assigned or pledged by the Transferor to any Person other
than the Issuer.

               3.2. Representations and Warranties of Triad.

               (a) Triad hereby represents and warrants to the Transferor as of
the date hereof and as of the Closing Date on which the Transferor relies in
purchasing the Receivables and the other Transferred Property and in conveying
the Receivables and the other Trust Assets to the Issuer under the [Sale and
Servicing Agreement/Pooling and Servicing Agreement], on which the Issuer relies
in pledging the Receivables and the other Pledged Property to the Indenture
Trustee under the Indenture [and on which the Security Insurer will rely in
issuing the Policy]:

               (i) Organization and Good Standing. Triad is duly organized and
        validly existing as a corporation in good standing under the laws of the
        State of California, with the corporate power and authority to own its
        properties and to conduct its business as such properties are currently
        owned and such business is presently conducted and had at all relevant
        times, and has, the corporate power, authority and legal right to
        originate, acquire, own, sell and service the Receivables and to perform
        its other obligations under this Purchase Agreement, and the other Basic
        Documents to which it is a party.

               (ii) Due Qualification. Triad is duly qualified to do business as
        a foreign corporation in good standing, and has obtained all necessary
        licenses and approvals, in all jurisdictions in which the ownership or
        lease of its property or the conduct of its business (including, without
        limitation, the origination of motor vehicle retail installment sale
        contracts, the sale of the Receivables to the Transferor hereunder, the
        servicing of the Receivables as required by the [Sale and Servicing
        Agreement/Pooling and Servicing Agreement] and its other obligations
        hereunder, under the [Sale and Servicing Agreement/Pooling and Servicing
        Agreement] and the other Basic Documents to which it is a party) shall
        require such qualifications, licenses and/or approvals, other than where

                                       5
<PAGE>

        the failure to obtain such license, qualification or approval would not
        have a material adverse effect on the ability of the Transferor to
        perform its obligations under this Purchase Agreement, the [Sale and
        Servicing Agreement/Pooling and Servicing Agreement] or any other Basic
        Document to which it is a party or on any Receivable or the interest
        therein of the Transferor, the Issuer, the Security Holders [or the
        Security Insurer].

               (iii) Power and Authority. Triad has the corporate power and
        authority to execute and deliver this Purchase Agreement and the other
        Basic Documents to which it is a party and to carry out their respective
        terms; Triad has full corporate power and authority to sell and assign
        the property sold and assigned to the Transferor hereunder and has duly
        authorized such sale and assignment to the Transferor by all necessary
        corporate action; and the execution, delivery and performance of this
        Purchase Agreement and the other Basic Documents to which it is a party
        have been duly authorized by Triad by all necessary corporate action.

               (iv) Valid Sale; Binding Obligation. This Purchase Agreement
        effects a valid sale, transfer and assignment of the Receivables and the
        other Transferred Property conveyed to the Transferor pursuant to
        Section 2.1 hereof, enforceable against creditors of and purchasers from
        Triad; and this Purchase Agreement and each other Basic Document to
        which it is a party shall constitute a legal, valid and binding
        obligation of Triad enforceable in accordance with their respective
        terms, except only as such enforcement may be limited by bankruptcy,
        insolvency or similar laws affecting the enforcement of creditors'
        rights generally.

               (v) No Violation. The execution, delivery and performance by
        Triad of this Purchase Agreement and the other Basic Documents to which
        it is a party and the consummation of the transactions contemplated
        hereby and thereby and the fulfillment of the terms hereof and thereof
        do not and will not conflict with, result in any breach of any of the
        terms and provisions of, or constitute (with or without notice or lapse
        of time) a default under, the certificate of incorporation or by-laws of
        Triad, or any indenture, agreement, mortgage, deed of trust, or other
        instrument to which Triad is a party or by which it is bound or to which
        any of its properties are subject; or result in the creation or
        imposition of any Lien upon any of its properties pursuant to the terms
        of any such indenture, agreement, mortgage, deed of trust, or other
        instrument (other than this Purchase Agreement, the [Sale and Servicing
        Agreement/Pooling and Servicing Agreement] and the Indenture); or
        violate any law, order, rule or regulation applicable to Triad of any
        court or of any Federal or State regulatory body, administrative agency
        or other governmental instrumentality having jurisdiction over Triad or
        its properties, in each case other than any such Lien, conflict, breach,
        default or violation which would not have a material adverse effect on
        the interest of the Security Holders, the Transferor, the Issuer [or the
        Security Insurer], in a material portion of the Receivables or on the
        ability of Triad to perform its obligations under this Purchase
        Agreement, the [Sale and Servicing Agreement/Pooling and Servicing
        Agreement] or any other Basic Document to which it is a party.

                                       6
<PAGE>

               (vi) No Proceedings. There are no proceedings or investigations
        pending, or to Triad's best knowledge, threatened, before any court,
        regulatory body, administrative agency, or other governmental
        instrumentality having jurisdiction over Triad or its properties: (A)
        asserting the invalidity of this Purchase Agreement, the [Sale and
        Servicing Agreement/Pooling and Servicing Agreement], any of the other
        Basic Documents to which it is a party or the Securities; (B) seeking to
        prevent the issuance of the Securities or the consummation of any of the
        transactions contemplated by this Purchase Agreement, the [Sale and
        Servicing Agreement/Pooling and Servicing Agreement] or any other Basic
        Document to which it is a party; (C) seeking any determination or ruling
        that might materially and adversely affect the performance by Triad of
        its obligations under, or the validity or enforceability of, this
        Purchase Agreement, the [Sale and Servicing Agreement/Pooling and
        Servicing Agreement], any of the other Basic Documents to which it is a
        party or the Securities; (D) relating to Triad and which might adversely
        affect the Federal or State income, excise, franchise or similar tax
        attributes of the Securities; or (E) that could have a material adverse
        effect on the Receivables or the interest therein of the Transferor, the
        Issuer, the Security Holders [or the Security Insurer].

               (vii) No Consents. No consent, approval, authorization or order
        of or declaration or filing with any governmental authority is required
        to be obtained by Triad for the issuance or sale of the Securities or
        the consummation of the other transactions contemplated by this Purchase
        Agreement, the [Sale and Servicing Agreement/Pooling and Servicing
        Agreement] or any of the other Basic Documents to which Triad is a
        party, except such as have been duly made or obtained, other than the
        failure to obtain such consent, approval, authorization, order or
        declaration, or to make such filing, would not have a material adverse
        effect on the ability of Triad to perform its obligations under the
        Basic Documents to which it is a party or on any Receivable or the
        interest therein of the Transferor, the Issuer, the Security Holders [or
        the Security Insurer].

               (viii) Financial Condition. Triad has a positive net worth
        (taking into account advances and loans from [____] or its Affiliates
        (other than subsidiaries of Triad) to Triad) and is able to and does pay
        its liabilities as they mature. Triad is not in default under any
        material obligation to pay money to any person except for matters being
        disputed in good faith which do not involve an obligation of Triad on a
        promissory note. Triad will not use the proceeds from the transactions
        contemplated by this Purchase Agreement to give any preference to any
        creditor or class of creditors, and this transaction will not leave
        Triad with remaining assets which are unreasonably small compared to its
        ongoing operations.

               (ix) Fraudulent Conveyance. Triad is not selling the Receivables
        to the Transferor with any intent to hinder, delay or defraud any of its
        creditors; Triad will not be rendered insolvent as a result of the sale
        of the Receivables to the Transferor.

               (x) Disclosure. The Triad Information does not contain any untrue
        statement of a material fact or omit to state any material fact
        necessary to make the statements therein, in the light of the
        circumstances under which they were made, not misleading.

                                       7
<PAGE>

               (xi) Certificate, Statements and Reports. The officers
        certificates, statements, reports and other documents prepared by Triad
        and furnished by Triad to the Transferor, [the Security Insurer] or
        [Underwriters] pursuant to this Purchase Agreement or any other Basic
        Document to which Triad is a party, and in connection with the
        transactions contemplated hereby or thereby, when taken as a whole, do
        not contain any untrue statement of a material fact or omit to state a
        material fact necessary to make the statements contained herein or
        therein not misleading.

               (xii) Legal Counsel, etc. Triad has consulted with its own legal
        counsel and independent accountants to the extent it has deemed
        necessary regarding the tax, accounting and regulatory consequences of
        the transactions contemplated by this Purchase Agreement and the other
        Basic Documents, and Triad is not participating in such transactions in
        reliance on any representations of [Underwriters] or its affiliates, or
        their counsel, with respect to tax, accounting and regulatory matters.

               (xiii) Triad's Intention. The Receivables and other Transferred
        Property are being transferred with the intention of removing them from
        Triad's estate pursuant to Section 541 of the United States Bankruptcy
        Code, as the same may be amended from time to time.

               (b) Triad makes the following representations and warranties as
to the Receivables and the other Transferred Property relating thereto on which
the Transferor relies in accepting the Receivables and the other Trust Assets
relating thereto, on which the Issuer relies in pledging the Receivables and the
other Pledged Property to the Indenture Trustee under the Indenture [and on
which the Security Insurer will rely in issuing the Policy]:

               (i) Origination Date. Each Receivable has an Origination Date on
        or after ___________________.

               (ii) Principal Balance/Number of Contracts. As of the Cutoff
        Date, the total aggregate Principal Balance of the Receivables was
        $___________. The Receivables are evidenced by _____ retail installment
        sale contracts.

               (iii) Maturity of Receivables. Each Receivable has an original
        term to maturity of not less than __ months and not more than __ months;
        the weighted average original term to maturity of the Receivables is __
        months as of the Cutoff Date; the remaining term to maturity of each
        Receivable was __ months or less as of the Cutoff Date; the weighted
        average remaining term to maturity of the Receivables was __ months as
        of the Cutoff Date and each Receivable was originated on or before the
        Cutoff Date.

               (iv) Characteristics of Receivables. (A) Each Receivable (1) has
        been originated in the United States of America by a Dealer for the
        retail sale of a Financed Vehicle in the ordinary course of such
        Dealer's business, such Dealer had all necessary licenses and permits to
        originate such Receivable in the State where such Dealer was located,
        has been fully and properly executed by the parties thereto and has been
        purchased by Triad from such Dealer under an existing Dealer Agreement
        with Triad, in connection with the sale of Financed Vehicles by the
        Dealer, and was validly assigned by such Dealer to Triad in

                                       8
<PAGE>

        accordance with its terms, (2) has created a valid, subsisting, and
        enforceable first priority security interest in favor of Triad in the
        Financed Vehicle, which security interest is assignable and has been
        validly assigned by Triad to the Transferor, which in turn has been
        validly assigned by the Transferor to the Issuer pursuant to the [Sale
        and Servicing Agreement/Pooling and Servicing Agreement], which in turn
        has been validly assigned by the Issuer to the Indenture Trustee
        pursuant to the Indenture, (3) contains customary and enforceable
        provisions such that the rights and remedies of the holder or assignee
        thereof shall be adequate for realization against the collateral of the
        benefits of the security, (4) provides for level monthly payments that
        fully amortize the Amount Financed over the original term (except for
        the first or last payment, which may be minimally different from the
        level payment) and yield interest at the Annual Percentage Rate, (5) has
        an Annual Percentage Rate of not less than ___%, (6) in the case of a
        Receivable that is a Precomputed Receivable, in the event that such
        Receivable is prepaid, provides for a prepayment that fully pays the
        Principal Balance and includes, unless prohibited by applicable law, a
        full month's interest, in the month of prepayment, at the Annual
        Percentage Rate, (7) is a Precomputed Receivable or a Simple Interest
        Receivable, and (8) was originated by a Dealer to an Obligor and was
        sold by the Dealer to Triad without any fraud or misrepresentation on
        the part of such Dealer or on the part of the Obligor; and (B)
        approximately _____% of the aggregate Principal Balance of the
        Receivables, constituting _____% of the number of contracts, as of the
        Cutoff Date, represents financing of used automobiles, vans, sport
        utility vehicles or light duty trucks; the remainder of the Receivables
        represent financing of new automobiles, vans, sport utility vehicles or
        light duty trucks; approximately ____% of the aggregate Principal
        Balance of the Receivables as of the Cutoff Date were originated under
        the Triad Class I program; approximately _____% of the aggregate
        Principal Balance of the Receivables as of the Cutoff Date were
        originated under the Triad Class IIA program; approximately _____% of
        the aggregate Principal Balance of the Receivables as of the Cutoff Date
        were originated under the Triad Class IIB program; approximately _____%
        of the aggregate Principal Balance of the Receivables as of the Cutoff
        Date were originated under the Triad Class III program; approximately
        ____% of the aggregate Principal Balance of the Receivables as of the
        Cutoff Date were originated under the Triad Class IV program; no
        Receivable shall have a payment that is more than 29 days overdue
        (calculated on the basis of a 360-day year of twelve 30-day months) as
        of the Cutoff Date; _____% of the aggregate Principal Balance of the
        Receivables are Precomputed Receivables and _____% of the aggregate
        Principal Balance of the Receivables are Simple Interest Receivables;
        each Receivable shall have a final scheduled payment due no later than
        ________________. Each Receivable was originated on or before the Cutoff
        Date.

               (v) Scheduled Receivable Payments. Each Receivable had an
        original Principal Balance of not less than $________ nor more than
        $_________ has an outstanding Principal Balance as of the Cutoff Date of
        not less than $_______ and not more than $_________ and has a first
        Scheduled Receivable Payment due, in the case of Precomputed
        Receivables, or a first scheduled due date, in the case of Simple
        Interest Receivables, on or prior to ________________.

               (vi) No Bankruptcies. No Obligor was bankrupt at the time of
        origination of the related Receivable and no Obligor on any Receivable
        as of the Cutoff Date was noted in

                                       9
<PAGE>

        the related Receivable File as having filed for bankruptcy since
        origination of such Receivable and neither discharged, dismissed nor
        reaffirmed.

               (vii) Origination of Receivables. Based on the location of the
        Dealers and the Principal Balances as of the Cutoff Date, approximately
        _____% of the Receivables were originated in California, approximately
        _____% of the Receivables were originated in Maryland, approximately
        _____% of the Receivables were originated in New York and the remaining
        _____% of the Receivables were originated in other States.

               (viii) Lock-Box. Prior to the Closing Date, each Obligor will
        have been notified by Triad to make payments with respect to its
        respective Receivable after the Cutoff Date directly to the Lock-Box,
        and will provide each Obligor with a monthly statement in order to
        enable such Obligor to make payments directly to the Lock-Box.

               (ix) Location of Legal Files; One Original. A complete Legal File
        with respect to each Receivable has been or prior to the Closing Date
        will be delivered to the Custodian at the location listed in Schedule B
        to the [Sale and Servicing Agreement/Pooling and Servicing Agreement].
        There is only one original executed copy of each Receivable.

               (x) Schedule of Receivables; Selection Procedures. The
        information with respect to the Receivables set forth in the Schedule of
        Receivables is true and correct in all material respects as of the close
        of business on the Cutoff Date and the Closing Date, and no selection
        procedures adverse to the Issuer, the Security Holders [or to the
        Security Insurer] have been utilized in selecting the Receivables. The
        computer tape or other listing regarding the Receivables made available
        to the Transferor and its assigns is true and correct as of the Cutoff
        Date and the Closing Date in all respects. By the Closing Date, Triad
        will have caused the portions of Triad's servicing records relating to
        the Receivables to be clearly and unambiguously marked to show that the
        Receivables constitute part of the Trust Assets and are owned by the
        Issuer in accordance with the terms of the [Sale and Servicing
        Agreement/Pooling and Servicing Agreement].

               (xi) Compliance with Law. Each Receivable, the sale of each
        Financed Vehicle related thereto and the sale of any physical damage,
        credit life and credit accident and health insurance and any extended
        service contracts related thereto complied at the time the related
        Receivable was originated or made and at the execution of this Purchase
        Agreement complies in all material respects with all requirements of
        applicable Federal, State and local laws, and regulations thereunder
        including, without limitation, usury laws, the Federal Truth-in-Lending
        Act, the Equal Credit Opportunity Act, the Fair Credit Reporting Act,
        the Fair Debt Collection Practices Act, the Federal Trade Commission
        Act, the Magnuson-Moss Warranty Act, the Federal Reserve Board's
        Regulations B and Z (including amendments to the Federal Reserve's
        Official Staff Commentary to Regulation Z effective October 1, 1998
        concerning negative equity loans), the Soldiers' and Sailors' Civil
        Relief Act of 1940, as amended, the California Automobile Sales Finance
        Act and state adaptations of the National Consumer Act and of the
        Uniform Consumer Credit Code, and other consumer credit laws and equal
        credit opportunity and disclosure laws.

                                       10
<PAGE>

               (xii) Binding Obligation. Each Receivable represents the genuine,
        legal, valid and binding payment obligation in writing of the Obligor,
        enforceable by the holder thereof in accordance with its terms, except
        only as such enforcement may be limited by bankruptcy, insolvency or
        similar laws affecting the enforcement of creditors' rights generally
        and all parties to each Receivable had full legal capacity to execute
        and deliver such Receivable and all other documents related thereto and
        to grant the security interest purported to be granted thereby.

               (xiii) No Government, Corporate or Fleet Obligor. None of the
        Receivables is due from the United States of America or any State or
        from any agency, department, or instrumentality of the United States of
        America or any State. All of the Receivables are due from Obligors who
        are natural persons or, if any Obligor is not a natural person, (a) such
        entity is an obligor with respect to five or fewer Financed Vehicles and
        (b) the related Receivable or Receivables have the benefit of the
        personal guaranty of a natural person or persons. No Receivable has been
        included in a "fleet" sale (i.e., a sale to any single Obligor of more
        than five Financed Vehicles).

               (xiv) Security Interest in Financed Vehicle. Immediately prior to
        the sale, assignment, and transfer thereof, each Receivable shall be
        secured by a validly perfected first priority security interest in the
        Financed Vehicle in favor of Triad as secured party, and such security
        interest is prior to all other liens upon and security interests in such
        Financed Vehicle which now exist or may hereafter arise or be created
        (except, as to priority, for any lien for taxes, labor or materials or
        any other non-consensual lien affecting Financed Vehicle arising
        subsequent to the Closing Date), and either (i) all necessary and
        appropriate actions have been taken that would result in the valid
        perfection of a first priority security interest in the Financed Vehicle
        in favor of Triad as secured party, and the Lien Certificate for each
        Financed Vehicle shows, or if a new or replacement Lien Certificate is
        being applied for such new or replacement Lien Certificate will be
        received within 150 days of the Closing Date and will show Triad named
        as the original secured party under any such Receivable and the holder
        of a first priority security interest in such Financed Vehicle, or (ii)
        a Dealer Title Guaranty has been obtained with respect to such Financed
        Vehicle. With respect to each Receivable for which the Lien Certificate
        has not yet been submitted to, or returned from, the Registrar of
        Titles, Triad has received either (i) written evidence from the related
        Dealer that such Lien Certificate showing Triad as the first lienholder
        has been applied for or (ii) a Dealer Title Guaranty with respect to
        such Financed Vehicle. Immediately after the sale, transfer and
        assignment thereof to the Issuer, each Receivable will be secured by an
        enforceable first priority security interest in the Financed Vehicle in
        favor of the Issuer as secured party, which security interest is prior
        to all other liens upon and security interests in such Financed Vehicle
        which now exist or may hereafter arise or be created (except, as to
        priority, for the lien of the Indenture and for any lien for taxes,
        labor or materials affecting such Financed Vehicle and arising
        subsequent to the Closing Date).

               (xv) Receivables in Force. No Receivable has been satisfied,
        subordinated or rescinded, nor has any Financed Vehicle been released
        from the lien granted by the related Receivable in whole or in part. No
        provisions of any Receivable have been waived, altered, amended or
        modified in any respect since its origination, except by

                                       11
<PAGE>

        instruments or documents identified in the related Legal File on the
        Closing Date. No Receivable has been modified as a result of application
        of the Soldiers' and Sailors' Civil Relief Act of 1940, as amended.

               (xvi) Intentionally Omitted.

               (xvii) Intentionally Omitted.

               (xviii) No Defenses. As of the Closing Date, no right of
        rescission, setoff, counterclaim or defense exists or has been asserted
        or threatened with respect to any Receivable. The operation of the terms
        of any Receivable or the exercise of any right thereunder will not
        render such Receivable unenforceable in whole or in part or subject to
        any such right of rescission, setoff, counterclaim, or defense.

               (xix) No Liens. As of the Closing Date, there are no liens or
        claims existing or which have been filed for work, labor, storage or
        materials relating to a Financed Vehicle that shall be liens prior to,
        or equal or coordinate with, the security interest in the Financed
        Vehicle granted by the Receivable.

               (xx) No Default; Repossession. Except for payment delinquencies
        continuing for a period of not more than twenty-nine days (calculated on
        the basis of a 360-day year of twelve 30-day months), as of the Cutoff
        Date, no default, breach, violation or event permitting acceleration
        under the terms of any Receivable has occurred and not been cured; and
        no continuing condition that with notice or the lapse of time would
        constitute a default, breach, violation, or event permitting
        acceleration under the terms of any Receivable has arisen; and Triad
        shall not waive and has not waived any of the foregoing; and no Financed
        Vehicle shall have been repossessed as of the Cutoff Date.

               (xxi) Insurance; other. (A) Each Obligor has obtained insurance
        covering the Financed Vehicle as of the execution of the Receivable
        insuring against loss and damage due to fire, theft, transportation,
        collision and other risks generally covered by comprehensive and
        collision coverage which is in an amount at least equal to the lesser of
        (x) its maximum insurable value or (y) the principal amount due from the
        Obligor under the related Receivable and names Triad and its successors
        and assigns as loss payee and each Receivable requires the Obligor to
        obtain and maintain such insurance naming Triad and its successors and
        assigns as an additional insured, (B) each Receivable that finances the
        cost of premiums for credit life and credit accident or health insurance
        is covered by an insurance policy and certificate of insurance naming
        Triad as policyholder (creditor) under each such insurance policy and
        certificate of insurance and (C) as to each Receivable that finances the
        cost of an extended service contract, the respective Financed Vehicle
        which secures the Receivable is covered by an extended service contract.

               (xxii) Title. It is the intention of Triad that the transfer and
        assignment herein contemplated constitute a sale of the Receivables from
        Triad to the Transferor and that the beneficial interest in and title to
        such Receivables not be part of the debtor's estate in the event of the
        filing of a bankruptcy petition by or against Triad under any bankruptcy
        law. No Receivable has been sold, transferred, assigned, or pledged by
        Triad to any

                                       12
<PAGE>

        Person other than the Transferor or conveyed by the Transferor to any
        Person other than the Issuer except with respect to any such pledge that
        has been released on or prior to the Closing Date. Immediately prior to
        the transfer and assignment herein contemplated, Triad shall have good
        and marketable title to each Receivable, and shall be the sole owner
        thereof, free and clear of all Liens, claims, encumbrances, security
        interests, and rights of others and, immediately upon the transfer
        thereof, the Transferor shall have good and marketable title to each
        such Receivable, and shall be the sole owner thereof, free and clear of
        all Liens, encumbrances, security interests, and rights of others, and
        each such transfer has been perfected under the UCC. Immediately prior
        to the conveyance by the Transferor to the Issuer contemplated by the
        [Sale and Servicing Agreement/Pooling and Servicing Agreement], the
        Transferor shall have good and marketable title to each Receivable, and
        shall be the sole owner thereof, free and clear of all Liens, claims,
        encumbrances, security interests, and rights of others and, immediately
        upon the conveyance thereof pursuant to the [Sale and Servicing
        Agreement/Pooling and Servicing Agreement], the Issuer shall have good
        and marketable title to each such Receivable, and shall be the sole
        owner thereof, free and clear of all Liens, encumbrances, security
        interests and rights of others, and each such transfer has been
        perfected under the UCC. Immediately prior to the pledge by the Issuer
        to the Indenture Trustee contemplated by the Indenture, the Issuer shall
        have good and marketable title to each Receivable, and shall be the sole
        owner thereof, free and clear of all Liens, claims, encumbrances,
        security interests, and rights of others and such pledge has been
        perfected under the UCC. Without limiting the generality of the
        foregoing, no Dealer has any right, title or interest in respect of any
        Receivable. Neither the Transferor nor Triad has taken any action to
        convey any right to any Person that would result in such Person having a
        right to payments received under any insurance policies related to the
        Receivables or the Financed Vehicles or the related Dealer Agreements or
        to payments due under such Receivables.

               (xxiii) Lawful Assignment. No Receivable has been originated in,
        or is subject to the laws of, any jurisdiction under which the sale,
        transfer, and assignment of such Receivable under this Purchase
        Agreement shall be unlawful, void, or voidable. Triad has not entered
        into any agreement with any account debtor that prohibits, restricts or
        conditions the assignment of any portion of the Receivables.

               (xxiv) All Filings Made. All filings (including, without
        limitation, UCC filings) necessary in any jurisdiction to give the
        Indenture Trustee a first priority perfected ownership interest in the
        Receivables and the proceeds thereof and the other Transferred Property
        (other than the Financed Vehicles) have been made.

               (xxv) Chattel Paper. Each Receivable constitutes "chattel paper"
        under the UCC.

               (xxvi) Valid and Binding Obligation of Obligor. Each Receivable
        is the legal, valid and binding obligation of the Obligor thereunder and
        is enforceable in accordance with its terms, except only as such
        enforcement may be limited by bankruptcy, insolvency or similar laws
        affecting the enforcement of creditors' rights generally, and all
        parties to such contract had full legal capacity to execute and deliver
        such contract and all other

                                       13
<PAGE>

        documents related thereto and to grant the security interest purported
        to be granted thereby.

               (xxvii) Tax Liens. As of the Closing Date, there is no lien or
        claims existing or which have been filed against the related Financed
        Vehicle for delinquent taxes.

               (xxviii) Title Documents. (A) If a Receivable was originated in a
        State in which notation of security interest on the title document of
        the related Financed Vehicle is required or permitted to perfect such
        security interest, the title document for such Receivable shows, or if a
        new or replacement title document is being applied for with respect to
        such Financed Vehicle, the title document will be received within 150
        days following the Closing Date and will show, Triad named as the
        original secured party under the related Receivable as the holder of a
        first priority security interest in such Financed Vehicle and (B) if the
        Receivable was originated in a State in which the filing of a financing
        statement under the UCC is required to perfect a security interest in
        motor vehicles, such filings or recordings have been duly made and show
        Triad named as the secured party under the related Receivable, and in
        either case, the Indenture Trustee has the same rights as such secured
        party has or would have (if such secured party were still the owner of
        the Receivable) against all parties claiming an interest in such
        Financed Vehicle. With respect to each Receivable for which the relevant
        Dealer is temporarily unable to furnish either an original Lien
        Certificate or satisfactory evidence that the appropriate lien has been
        recorded on the related certificate of title or documentation has been
        submitted to the appropriate state motor vehicle authority to record
        such lien on such certificate of title, Triad has received the related
        Dealer Title Guaranty.

               (xxix) Casualty. As of the Cutoff Date, no Financed Vehicle
        related to a Receivable has suffered a Casualty.

               (xxx) Obligation to Dealers or Others. The Transferor and its
        assignees will assume no obligation to Dealers or other originators or
        holders of the Receivables (including, but not limited to under dealer
        reserves) as a result of its purchase of the Receivables.

               (xxxi) Full Amount Financed Advanced. The full Amount Financed of
        each Receivable has been advanced to or on behalf of each Obligor, and
        there are no requirements for future advances thereunder. The Obligor
        with respect to each Receivable does not have any option under such
        Receivable to borrow from any person additional funds secured by the
        Financed Vehicle.

               (xxxii) No Impairment. Neither Triad nor the Transferor has done
        anything to convey any right to any Person that would result in such
        Person having a right to payments due under any Receivables or otherwise
        to impair the rights of the Transferor, the Issuer, the Security Holders
        [or the Security Insurer] in any Receivable or the proceeds thereof.

               (xxxiii) Receivables Not Assumable. No Receivable is assumable by
        another Person in a manner which would release the Obligor thereof from
        such Obligor's obligations to the Transferor or Triad with respect to
        such Receivable.

                                       14
<PAGE>

               (xxxiv) Servicing. The servicing of each Receivable and the
        collection practices relating thereto have been lawful and in accordance
        with the standards set forth in the [Sale and Servicing
        Agreement/Pooling and Servicing Agreement]; other than Triad and any
        Back-up Servicer arrangement that has been entered into, no other person
        has the right to service any Receivable.

               (xxxv) Illinois Receivables. (a) Triad does not own a substantial
        interest in the business of a Dealer within the meaning of Illinois
        Sales Finance Agency Act Rules and Regulations, Section 160.230(l) and
        (b) with respect to each Receivable originated in the State of Illinois,
        (i) the printed or typed portion of the related Form of Receivable
        complies with the requirements of 815 ILCS 375/3(b) and (ii) Triad has
        not, and for so long as such Receivable is outstanding shall not, place
        or cause to be placed on the related Financed Vehicle any collateral
        protection insurance in violation of 815 ILCS 180/10.

               (xxxvi) California Receivables. Each Receivable originated in the
        State of California has been, and at all times during the term of the
        [Sale and Servicing Agreement/Pooling and Servicing Agreement] will be,
        serviced by the Servicer in compliance with Cal. Civil Code Section
        2981, et seq.

               (c) The representations and warranties contained in this Purchase
Agreement are made as of the execution and delivery of this Purchase Agreement,
but shall survive the sale, transfer and assignment of the Receivables and the
other Transferred Property hereunder, the conveyance thereof by the Transferor
to the Issuer under the [Sale and Servicing Agreement/Pooling and Servicing
Agreement] and the pledge thereof by the Issuer to the Indenture Trustee under
the Indenture. Triad and the Transferor agree that the Transferor will assign to
the Issuer all of the Transferor's rights under this Purchase Agreement, the
Issuer will assign to the Indenture Trustee all of the Issuer's rights under
this Purchase Agreement and that the Indenture Trustee shall thereafter be
entitled to enforce this Purchase Agreement and directly against Triad in the
Indenture Trustee's own name on behalf of the Security Holders; provided,
however, that such representations and warranties shall not be construed as a
warranty or guaranty by Triad as to the future payments by any Obligor. The sale
of the Receivables pursuant to this Purchase Agreement shall be "without
recourse" except for the representations, warranties and covenants made by Triad
in this Purchase Agreement or the [Sale and Servicing Agreement/Pooling and
Servicing Agreement].

                                   ARTICLE IV

                                   CONDITIONS

               4.1. Conditions to Obligations of the Transferor. The obligation
of the Transferor to purchase the Receivables is subject to the satisfaction of
the following conditions:

               (i) Representations and Warranties True. The representations and
        warranties of Triad hereunder shall be true and correct on the Closing
        Date with the same effect as if then made, and Triad shall have
        performed all obligations to be performed by Triad hereunder on or prior
        to the Closing Date.

                                       15
<PAGE>

               (ii) Computer Files Marked. Triad shall, at its own expense, on
        or prior to the Closing Date, indicate in its computer files that the
        Receivables have been sold to the Transferor pursuant to this Purchase
        Agreement and conveyed to the Issuer pursuant to this [Sale and
        Servicing Agreement/Pooling and Servicing Agreement] and shall deliver
        to the Transferor the Schedule of Receivables certified by the Chairman,
        the President, any Vice President or the Treasurer of Triad to be true,
        correct and complete.

               (iii) Receivable Files Delivered. Triad shall, at its own
        expense, deliver the Receivable Files relating to the Receivables to the
        Servicer and the Legal Files relating to the Receivables to the
        Custodian, in each case at the offices specified in Schedule B to the
        [Sale and Servicing Agreement/Pooling and Servicing Agreement] on or
        prior to the Closing Date.

               (iv) Documents to be delivered by Triad at the Closing.

                      (A) The Assignment. At the Closing, Triad will execute and
        deliver the Assignment. The Assignment shall be substantially in the
        form of Exhibit A hereto.

                      (B) Evidence of UCC-1 Filing. On or prior to the Closing
        Date, Triad shall record and file, at its own expense, a UCC-1 financing
        statement in each jurisdiction (including, without limitation, the State
        of Delaware) in which required by applicable law, executed by Triad, as
        seller or debtor, naming the Transferor, as purchaser or secured party,
        and naming the Receivables and the other Transferred Property conveyed
        hereunder as collateral, meeting the requirements of the laws of each
        such jurisdiction and in such manner as is necessary to perfect the
        sale, transfer, assignment and conveyance of such Receivables to the
        Transferor. Triad shall deliver a file-stamped copy, or other evidence
        satisfactory to the Transferor of such filing, to the Transferor on or
        prior to the Closing Date.

                      (C) Evidence of UCC-3 Filings. On or prior to the Closing
        Date, Triad shall cause to be recorded and filed, at its own expense,
        UCC-3 partial releases executed by GCFP in each jurisdiction in which
        required by applicable law, meeting the requirements of the laws of each
        such jurisdiction and in such manner as is necessary to release all of
        the right, title and interest of GCFP in and to the Receivables,
        including without limitation, the security interests in the Financed
        Vehicles securing the Receivables and any proceeds of such security
        interests or the Receivables. Triad shall deliver file-stamped copies,
        or other evidence satisfactory to the Transferor of such filings, to
        each of the Transferor and [the Security Insurer] on or prior to the
        Closing Date.

                      (D) Legal Opinions. Triad shall have delivered to the
        Transferor and [Underwriters] the legal opinion of Dewey Ballantine LLP,
        of Triad's General Counsel [and of [____]'s Corporate Counsel], with
        respect to bankruptcy (including true sale and nonconsolidation),
        corporate, tax and such other matters as [the Security Insurer],
        [Underwriters] and their counsel shall request, in each case, dated the
        Closing Date and satisfactory in form and substance to [the Security
        Insurer], [Underwriters] and their respective counsel.

                                       16
<PAGE>

                      (E) Other Documents. On or prior to the Closing Date,
        Triad shall deliver such other documents as the Transferor [or the
        Security Insurer] may reasonably request.

               (v) Other Transactions. The transactions contemplated by the
        [Sale and Servicing Agreement/Pooling and Servicing Agreement], the
        Indenture and the Underwritering Agreement in respect of the Receivables
        shall be consummated on the Closing Date.

               4.2. Conditions to Obligations of Triad. (a) The obligation of
Triad to sell the Receivables to the Transferor is subject to the satisfaction
of the following conditions:

               (i) Representations and Warranties True. The representations and
        warranties of the Transferor hereunder shall be true and correct on the
        Closing Date with the same effect as if then made, and the Transferor
        shall have performed all obligations to be performed by it hereunder on
        or prior to the Closing Date.

               (ii) Receivables Purchase Price. At the Closing Date, the
        Transferor shall deliver to Triad the Receivables Purchase Price as
        provided in Section 2.1(b). Triad hereby directs the Transferor to wire
        the Receivables Purchase Price to Triad-Originations, ABA: _________,
        Account #___________, Triad Financial Corporation, pursuant to wire
        instructions to be delivered to the Transferor on or prior to the
        Closing Date.

                                    ARTICLE V

                               COVENANTS OF Triad

               Triad agrees with the Transferor as follows; provided, however,
that to the extent that any provision of this ARTICLE V conflicts with any
provision of the [Sale and Servicing Agreement/Pooling and Servicing Agreement],
the [Sale and Servicing Agreement/Pooling and Servicing Agreement] shall govern:

               5.1. Protection of Right, Title and Interest.

               (a) Filings. Triad shall cause all financing statements and
continuation statements and any other necessary documents covering the right,
title and interest of the Transferor in and to the Receivables and the other
Transferred Property to be promptly filed, and at all times to be kept recorded,
registered and filed, all in such manner and in such places as may be required
by law (including, without limitation, the State of Delaware) fully to preserve
and protect the right, title and interest of the Transferor hereunder, the
Issuer under the [Sale and Servicing Agreement/Pooling and Servicing Agreement]
and the Indenture Trustee on behalf of the Security Holders to the Receivables
and the other Transferred Property. Triad shall deliver to the Transferor, the
Owner Trustee and [the Security Insurer] file stamped copies of, or filing
receipts for, any document recorded, registered or filed as provided above, as
soon as available following such recordation, registration or filing. The
Transferor shall cooperate fully with Triad in connection with the obligations
set forth above and will execute any and all documents reasonably required to
fulfill the intent of this Section 5.1(a). In the event Triad fails to perform
its obligations under this subsection, the Transferor or the Trust Collateral
Agent may do so at the expense of Triad.

                                       17
<PAGE>

               (b) Name and Other Changes. At least 60 days prior to the date
Triad makes any change in its name, identity, corporate structure which would
make any financing statement or continuation statement filed in accordance with
paragraph (a) above seriously misleading within the applicable provisions of the
UCC or any title statute, Triad shall give the Trust Collateral Agent, [the
Security Insurer] and the Transferor written notice of any such change and no
later than five days after the effective date thereof, shall file appropriate
amendments to all previously filed financing statements or continuation
statements. At least 60 days prior to the date of any relocation of its
principal executive office or change in its state of incorporation, Triad shall
give the Trust Collateral Agent, [the Security Insurer] and the Transferor
written notice thereof if, as a result of such relocation or change, 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 Triad shall within five days after the effective date thereof,
file any such amendment or new financing statement. Triad shall at all times
maintain each office from which it shall service Receivables, and its principal
executive office, within the United States of America.

               (c) Accounts and Records. Triad shall maintain accounts and
records as to each Receivable accurately and in sufficient detail to permit the
reader thereof to know at any time the status of such Receivable, including
payments and recoveries made and payments owing (and the nature of each).

               (d) Maintenance of Computer Systems. Triad shall maintain its
computer systems so that, from and after the time of sale hereunder of the
Receivables to the Transferor, the conveyance of the Receivables to the Issuer
and the pledge of the Receivables to the Indenture Trustee, Triad's master
computer records (including any back-up archives) that refer to a Receivable
shall indicate clearly that such Receivable has been sold the Transferor and
thereafter conveyed to the Issuer and pledged to the Indenture Trustee.
Indication of the Transferor's, Issuer's and Indenture Trustee's interest in a
Receivable shall be deleted from or modified on Triad's computer systems when,
and only when, the Receivable shall have been paid in full or repurchased.

               (e) Sale of Other Receivables. If at any time Triad shall propose
to sell, grant a security interest in, or otherwise transfer any interest in any
automobile, van, sport utility vehicle or light duty truck receivables (other
than the Receivables) to any prospective purchaser, lender, or other transferee,
Triad shall give to such prospective purchaser, lender or other transferee
computer tapes, records, or print-outs (including any restored from back-up
archives) that, if they shall refer in any manner whatsoever to any Receivable,
shall indicate clearly that such Receivable has been pledged to the Indenture
Trustee unless such Receivable has been paid in full or repurchased.

               (f) Access to Records. Triad shall, upon reasonable notice,
permit the Transferor, [the Security Insurer], the Indenture Trustee, the Trust
Collateral Agent, the Servicer and their respective agents at any time during
normal business hours to inspect, audit, and make copies of and abstracts from
Triad's records regarding any Receivable.

               (g) List of Receivables. Upon request, Triad shall furnish to the
Transferor, within five Business Days, a list of all Receivables (by contract
number and name of Obligor)

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<PAGE>

then owned by the Transferor, together with a reconciliation of such list to the
Schedule of Receivables.

               (h) Receivable Files. On or prior to the Closing Date, Triad
shall deliver, either in hardcopy or electronic format, to the Servicer, as
agent of the Trust Collateral Agent pursuant to Section 3.5(b) of the [Sale and
Servicing Agreement/Pooling and Servicing Agreement], a complete Receivable File
with respect to each Receivable to be kept, either in hardcopy or electronic
format, at the location or locations listed in Schedule B to the [Sale and
Servicing Agreement/Pooling and Servicing Agreement].

               (i) Other Actions. Triad shall from time to time, at its expense,
promptly execute and deliver all further instruments and documents (including,
without limitation, powers of attorney for the benefit of the Servicer) and take
all further action that may be necessary or desirable to permit the Servicer to
perform its obligations under the [Sale and Servicing Agreement/Pooling and
Servicing Agreement], including, without limitation the Servicer's obligation to
preserve and maintain the perfected security interest of the Indenture Trustee
in the Receivables and the Financed Vehicles.

               5.2. Other Liens or Interests. Except for the conveyances
hereunder and pursuant to the [Sale and Servicing Agreement/Pooling and
Servicing Agreement] and the pledge pursuant to the Indenture, Triad will not
sell, pledge, assign or transfer to any other Person, or grant, create, incur,
assume or suffer to exist any lien on any interest therein, and Triad shall
defend the right, title, and interest of the Transferor, the Issuer and the
Indenture Trustee in, to and under such Receivables against all claims of third
parties claiming through or under Triad; provided, however, that Triad's
obligations under this Section 5.2 shall terminate upon the termination of the
Issuer pursuant to the [Sale and Servicing Agreement/Pooling and Servicing
Agreement].

               5.3. Chief Executive Office. During the term of the Receivables,
Triad will maintain its chief executive office in one of the United States of
America, except Louisiana or Vermont.

               5.4. Costs and Expenses. Triad will pay all expenses incident to
the performance of its obligations under this Purchase Agreement and Triad
agrees to pay all reasonable out-of-pocket costs and expenses of the Transferor,
excluding fees and expenses of counsel to the Transferor, in connection with the
perfection as against third parties of the Indenture Trustee's right, title and
interest in and to the Receivables and security interests in the Financed
Vehicles and the enforcement of any obligation of Triad hereunder.

               5.5. Delivery of Receivable Files and Legal Files. On or prior to
the Closing Date, Triad shall deliver the related Receivable Files to the
Servicer and the related Legal Files to the Custodian at the locations specified
in Schedule B to the [Sale and Servicing Agreement/Pooling and Servicing
Agreement]. Triad, following receipt from the Custodian of notification,
pursuant to Section 3.4 of the [Sale and Servicing Agreement/Pooling and
Servicing Agreement], that there has been a failure to deliver a Legal File with
respect to a Receivable or that any of the documents referred to in the
definition of the term "Legal File" are not contained in a Legal File or, if
applicable, the related Dealer is not listed on a Dealer Title Addendum, shall

                                       19
<PAGE>

deliver such Legal File or any of the aforementioned documents required to be
included in such Legal File or a Dealer Title Addendum listing such Dealer to
the Custodian no later than the Closing Date. Unless such defect with respect to
such Receivable shall have been cured by the last day of the second Collection
Period following discovery thereof, Triad hereby agrees to repurchase any such
Receivable from the Issuer as of such last day. In consideration of the purchase
of the Receivable, Triad shall remit the Purchase Amount in the manner specified
in Section 5.5 of the [Sale and Servicing Agreement/Pooling and Servicing
Agreement]. The sole remedy hereunder of the Indenture Trustee, the Trust
Collateral Agent, the Issuer or the Security Holders with respect to a breach of
this Section 5.5 shall be to require Triad to repurchase the Receivable pursuant
to this Section 5.5. Upon receipt of the Purchase Amount, the Trust Collateral
Agent shall cause the Custodian to release to Triad or its designee the related
Legal File and the Servicer to release the related Receivable File and shall
execute and deliver all instruments of transfer or assignment, without recourse,
as are prepared by Triad and delivered to the Trust Collateral Agent and are
necessary to vest in Triad or such designee the Transferor's and the Issuer's
right, title and interest in the Receivable.

               5.6. Indemnification.

               (a) Triad shall defend, indemnify and hold harmless the
Transferor, [the Security Insurer], the Indenture Trustee, the Back-up Servicer,
the Collateral Agent, the Trust Collateral Agent, the Owner Trustee, the Issuer,
the Security Holders and the Certificateholder for any liability as a result of
the failure of a Receivable to be originated in compliance with all requirements
of law and for any breach of any of its representations and warranties contained
herein.

               (b) Triad shall defend, indemnify and hold harmless the
Transferor, [the Security Insurer], the Indenture Trustee, the Back-up Servicer,
the Collateral Agent, the Trust Collateral Agent, the Owner Trustee, the Issuer,
the Security Holders and the Certificateholder from and against any and all
costs, expenses, losses, damages, claims, and liabilities, arising out of or
resulting from the use, ownership, or operation by Triad or any Affiliate
thereof of a Financed Vehicle.

               (c) Triad shall defend, indemnify and hold harmless the
Transferor, [the Security Insurer], the Indenture Trustee, the Back-up Servicer,
the Collateral Agent, the Trust Collateral Agent, the Owner Trustee, the Issuer,
the Security Holders and the Certificateholder against any and all costs,
expenses, losses damages, claims and liabilities, arising out of or resulting
from any action taken, or failed to be taken, by Triad in respect of any portion
of the Trust Assets other than in accordance with this Purchase Agreement and
any other Basic Document.

               (d) Triad shall defend, indemnify and hold harmless the
Transferor, [the Security Insurer], the Indenture Trustee, the Back-up Servicer,
the Collateral Agent, the Trust Collateral Agent, the Owner Trustee, the Issuer,
the Security Holders and the Certificateholder from and against any and all
taxes, except for taxes on the net income of the Transferor, [the Security
Insurer], the Indenture Trustee, the Back-up Servicer, the Collateral Agent, the
Trust Collateral Agent, the Owner Trustee, the Issuer or the Security Holders,
as the case may be, that may at any time be asserted against the Transferor with
respect to the transactions contemplated

                                       20
<PAGE>

herein including, without limitation, any sales, general corporation, tangible
personal property, privilege, or license taxes and costs and expenses in
defending against the same.

               (e) Triad shall defend, indemnify and hold harmless the
Transferor, [the Security Insurer], the Indenture Trustee, the Back-up Servicer,
the Collateral Agent, the Trust Collateral Agent, the Owner Trustee, the Issuer,
the Security Holders and the Certificateholder from and against any and all
costs, expenses, losses, damages, claims and liabilities to the extent that such
cost, expense, loss, damage, claim or liability arose out of, or was imposed
upon the Transferor, [the Security Insurer], the Indenture Trustee, the Back-up
Servicer, the Collateral Agent, the Trust Collateral Agent, the Owner Trustee,
the Issuer, the Security Holders and the Certificateholder, as the case may be,
through the negligence, willful misfeasance, or bad faith of Triad in the
performance of its duties under this Purchase Agreement or any other Basic
Document to which it is a party, or by reason of reckless disregard of Triad's
obligations and duties under this Purchase Agreement or any other Basic Document
to which it is a party.

               (f) Triad shall defend, indemnify and hold harmless the
Transferor, [the Security Insurer], the Indenture Trustee, the Back-up Servicer,
the Collateral Agent, the Trust Collateral Agent, the Owner Trustee, the Issuer,
the Security Holders and the Certificateholder from and against all costs,
expenses, losses, damages, claims and liabilities arising out of or incurred in
connection with the acceptance or performance of Triad's duties under this
Purchase Agreement and the other Basic Documents to which it is a party,
including the trusts and duties as Servicer under the [Sale and Servicing
Agreement/Pooling and Servicing Agreement], except to the extent that such cost,
expense, loss, damage, claim or liability shall be due to the willful
misfeasance, bad faith or negligence of the Transferor, [the Security Insurer],
the Indenture Trustee, the Back-up Servicer, the Collateral Agent, the Trust
Collateral Agent, the Owner Trustee, the Issuer or the Security Holders, as the
case may be.

               (g) Triad shall defend, indemnify and hold harmless the
Transferor, [the Security Insurer], the Indenture Trustee, the Back-up Servicer,
the Collateral Agent, the Trust Collateral Agent, the Owner Trustee, the Issuer,
the Security Holders and the Certificateholder against any and all costs,
expenses, losses, damages, claims and liabilities arising out of or resulting
from the failure of any Receivable or the sale of the related Financed Vehicle
to comply with all requirements of applicable law.

               Indemnification under this Section shall include reasonable fees
and expenses of litigation and shall survive termination of the Issuer. These
indemnity obligations shall be in addition to any obligation that Triad may
otherwise have.

               5.7. Sale. Triad agrees to treat each conveyance hereunder for
all purposes (including without limitation tax and financial accounting
purposes) as a sale on all relevant books, records, tax returns, financial
statements and other applicable documents.

               5.8. Non-Petition. In the event of any breach of a representation
and warranty made by the Transferor hereunder, Triad covenants and agrees that
it shall not, until a year and a day have passed since the date on which all
securities issued by the Issuer or a similar trust formed by the Transferor have
been paid in full, petition or otherwise invoke the process of commencing or
sustaining a case against the Transferor under any Federal or State bankruptcy,

                                       21
<PAGE>

insolvency or similar law or appointing a receiver, liquidator, assignee,
trustee, custodian, sequestrator or other similar official of the Transferor or
any substantial part of its property, or ordering the winding up or liquidation
of the affairs of the Transferor. The Transferor and Triad agree that damages
will not be an adequate remedy for such breach and that this covenant may be
specifically enforced by the Transferor or by the Indenture Trustee on behalf of
the Issuer.

                                   ARTICLE VI

                            MISCELLANEOUS PROVISIONS

               6.1. Obligations of Seller. The obligations of Triad under this
Purchase Agreement shall not be affected by reason of any invalidity, illegality
or irregularity of any Receivable.

               6.2. Repurchase Events. Triad hereby covenants and agrees with
the Transferor for the benefit of the Transferor, the Issuer, the Indenture
Trustee, the Trust Collateral Agent, [the Security Insurer], the Security
Holders and the Certificateholder, that (i) the occurrence of a breach of any of
Triad's representations and warranties contained in Section 3.2(b) (without
regard to any limitations regarding Triad's knowledge), and (ii) the failure of
Triad to timely comply with its obligations pursuant to Section 5.5 hereof,
shall constitute events obligating Triad to repurchase the affected Receivables
hereunder ("Repurchase Events"), at the Purchase Amount from the Issuer. Unless
the breach of any of Triad's representations and warranties shall have been
cured by the last day of the second Collection Period following the discovery
thereof by or notice to Triad of such breach, Triad shall repurchase any
Receivable if such Receivable or the interest therein of the Transferor, the
Issuer, the Security Holders, [the Security Insurer] or the Certificateholder is
materially and adversely affected by the breach as of the last day of such
second Collection Period and, in the event that the breach relates to a
characteristic of the Receivables in the aggregate, and if the Transferor, the
Issuer, the Security Holders, [the Security Insurer] or the Certificateholder is
materially and adversely affected by such breach, unless the breach shall have
been cured by the last day of such second Collection Period, Triad shall
purchase such aggregate Principal Balance of Receivables, such that following
such purchase such representation shall be true and correct with respect to the
remainder of the Receivables in the aggregate. The provisions of this Section
6.2 are intended to grant the Indenture Trustee a direct right against Triad
acting at the direction or with the consent of [the Security Insurer] to demand
performance hereunder, and in connection therewith Triad waives any requirement
of prior demand against the Transferor and waives any defaults it would have
against the Transferor with respect to such repurchase obligation. In addition
to the foregoing, Triad shall be under an obligation to promptly purchase from
the Transferor (in its capacity as Transferor under the [Sale and Servicing
Agreement/Pooling and Servicing Agreement]) any Receivable required to be
repurchased by Triad pursuant to a breach of its obligations in the [Sale and
Servicing Agreement/Pooling and Servicing Agreement] including, without
limitation, Triad's repurchase obligations set forth in Sections 3.2 and 3.4 of
the [Sale and Servicing Agreement/Pooling and Servicing Agreement]. Any such
purchase described in this Section shall take place in the manner specified in
Section 5.5 of the [Sale and Servicing Agreement/Pooling and Servicing
Agreement]. The sole remedy hereunder of the Security Holders, the
Certificateholder, the Issuer, [the Security Insurer], the Indenture Trustee or
the Transferor against Triad with respect to any Repurchase Event shall be to
enforce Triad's obligation to repurchase such Receivables

                                       22
<PAGE>

pursuant to this Purchase Agreement; provided, however, that Triad shall
indemnify the Owner Trustee, the Issuer, the Indenture Trustee, the Trust
Collateral Agent, [the Security Insurer], the Indenture Trustee, the Back-up
Servicer, the Collateral Agent, the Security Holders and the Certificateholder
and their respective officers, directors and employees against all costs,
expenses, losses, damages, claims and liabilities, including reasonable fees and
expenses of counsel, which may be asserted against or incurred by any of them,
as a result of third party claims arising out of the events or facts giving rise
to a Repurchase Event. Upon receipt of the Purchase Amount, the Trust Collateral
Agent shall cause the Custodian to release the related Legal File and the
Servicer to release the related Receivable File to Triad and to execute and
deliver all instruments of transfer or assignment, without recourse, as are
necessary to vest in Triad the Transferor's and the Issuer's right, title and
interest in the Receivable.

               6.3. Seller's Assignment of Purchased Receivables. With respect
to all Receivables repurchased by Triad pursuant to this Purchase Agreement, the
Transferor shall assign, without recourse except as provided herein,
representation or warranty, to Triad all the Transferor's right, title and
interest in and to such Receivables, and all security and documents relating
thereto.

               6.4. Conveyance as Sale of Receivables Not Financing. The parties
hereto intend that the conveyance hereunder be a sale of the Receivables and the
other Transferred Property relating thereto from Triad to the Transferor and not
a financing secured by such assets; and the beneficial interest in and title to
Receivables and the other Transferred Property shall not be part of Triad's
estate in the event of the filing of a bankruptcy petition by or against Triad
under any bankruptcy law. In the event that the conveyance hereunder is for any
reason not considered a sale, the parties intend that this Purchase Agreement
constitute a security agreement under the UCC (as defined in the UCC as in
effect in the State of New York) and applicable law, and Triad hereby grants to
the Transferor a security interest in, to and under the Receivables and the
other Transferred Property, and other property conveyed hereunder and all
proceeds of any of the foregoing for the purpose of securing payment and
performance of the Securities and the Certificate and the repayment of amounts
owed to the Transferor from Triad.

               6.5. Assignment of Rights. Triad acknowledges that (i) the
Transferor will, pursuant to the [Sale and Servicing Agreement/Pooling and
Servicing Agreement] convey the Receivables and assign its rights under this
Purchase Agreement to the Issuer and (ii) the Issuer will, pursuant to the
Indenture, pledge all of its right, title and interest in the Receivables and
pledge its rights under this Purchase Agreement to the Indenture Trustee for the
benefit of the Security Holders and [the Security Insurer], and that the
representations and warranties contained in this Purchase Agreement and the
rights of the Transferor under this Purchase Agreement, including without
limitation under Sections 6.2 and 6.3 hereof, are intended to benefit the
Security Holders and [the Security Insurer]. Triad also acknowledges that the
Indenture Trustee on behalf of the Security Holders and [the Security Insurer],
as assignees of the Transferor's rights hereunder may directly enforce, without
making any prior demand on the Transferor, all the rights of the Transferor
hereunder including without limitation the rights under Section 6.2 and 6.3
hereof. Triad hereby consents to such sale and assignment.

                                       23
<PAGE>

               6.6. [[____] Guarantee. [____] has issued the Guarantee in favor
of the Back-up Servicer, Custodian and the Trust Collateral Agent, for the
benefit of the Security Holders, [and the Security Insurer].]

               6.7. Amendment. This Purchase Agreement may be amended from time
to time by a written amendment duly executed and delivered by Triad and the
Transferor with the prior written consent of [the Security Insurer]; provided,
however, that any such amendment that materially and adversely affects the
rights of the Security Holders must be consented to by the holders of Securities
representing more than 50% of the Security Balance. The parties hereto agree to
provide the Rating Agencies with prior notice of, and a copy of, any amendment
to this Purchase Agreement.

               6.8. Accountants' Letters. (a) [Accountants] will review in
accordance with procedures previously agreed to by Triad and the Transferor,
certain information with respect to the characteristics of the Receivables; (b)
Triad will cooperate with the Transferor and [Accountants] in making available
all information and taking all steps reasonably necessary to permit such
accountants to complete the review necessary to provide the confirmation set
forth in clause (a) above and to deliver the letters required of them under the
Underwriting Agreement; and (c) [Accountants] will deliver to the Transferor a
letter, dated the Closing Date or such later date as the Prospectus shall be
available, each in the form previously agreed to by Triad and the Transferor,
with respect to the financial and statistical information contained in the
Prospectus under the captions "The Company/Servicer" and "The Trust Property",
certain information relating to the Receivables on magnetic tape or other
electronic format obtained from Triad and the Transferor and with respect to
such other information as may be agreed in the form of letter.

               6.9. Waivers. No failure or delay on the part of the Transferor
in exercising any power, right or remedy under this Purchase Agreement or the
Assignment, 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.

               6.10. Notices. All communications and notices pursuant hereto to
either party [or to the Security Insurer] shall be in writing or by telegraph or
telex and addressed or delivered to it at its address (or in case of telex, at
its telex number at such address) shown in the opening portion of this Purchase
Agreement (in the case of the parties) and with respect to the Security Insurer,
at __________________________________________, Attention: ________________, Re:
Triad Auto Receivables Trust 20__-_, or, in each case, at such other address as
may be designated by it by notice to the other party and, if mailed or sent by
telegraph or telex, shall be deemed given when mailed, communicated to the
telegraph office or transmitted by telex. [A copy of all communications and
notices sent pursuant hereto to either party shall also be sent to
_________________________, Attention: __________________.]

               6.11. Intentionally Omitted.

               6.12. Intentionally Omitted.

               6.13. Confidential Information. The Transferor agrees that it
will neither use nor disclose to any person the names and addresses of the
Obligors, except in connection with

                                       24
<PAGE>

the enforcement of the Transferor's rights hereunder, under the Receivables,
under the [Sale and Servicing Agreement/Pooling and Servicing Agreement] or as
required by law.

               6.14. Headings and Cross-References. The various headings in this
Purchase Agreement are included for convenience only and shall not affect the
meaning or interpretation of any provision of this Purchase Agreement.
References in this Purchase Agreement to Section names or numbers are to such
Sections of this Purchase Agreement.

               6.15. Third Party Beneficiaries. The parties hereto hereby
expressly agree that each of the Indenture Trustee for the benefit of the
Security Holders, the Owner Trustee, the Certificateholder [and the Security
Insurer] shall be third party beneficiaries with respect to this Purchase
Agreement, provided, however, that no third party other than the Indenture
Trustee for the benefit of the Security Holders [and the Security Insurer], [the
Security Insurer], [Underwriters] is a third party beneficiary of this Purchase
Agreement, and each such party may rely on the representations, warranties,
covenants and agreements of Triad herein and therein as if they were addressed
to each of them. [As a third party beneficiary to the provisions of this
Purchase Agreement, the Security Insurer (so long as no Security Insurer Default
shall have occurred and be continuing) and its successors and assigns shall be
entitled to rely upon and directly enforce the provisions of this Purchase
Agreement. Except as expressly stated otherwise herein or in the Basic
Documents, any right of the Security Insurer to direct, appoint, consent to,
approve of, or take any action under this Purchase Agreement, shall be a right
exercised by the Security Insurer in its sole and absolute discretion. The
Security Insurer may disclaim any of its rights and powers under this Purchase
Agreement (but not its duties and obligations under the Policy) upon delivery of
a written notice to the Indenture Trustee.]

               6.16. Governing Law. THIS PURCHASE AGREEMENT AND THE ASSIGNMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE
STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES (EXCEPT WITH
REGARD TO THE UCC).

               6.17. Counterparts. This Purchase 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.

               6.18. [Effect of Policy Expiration Date. Notwithstanding anything
to the contrary set forth herein, all references to any right of the Security
Insurer to direct, appoint, consent to, accept, approve of, take or omit to take
any action under this Purchase Agreement or any other Basic Document shall be
inapplicable at all times after the Policy Expiration Date, and (i) if such
reference provides for another party or parties to take or omit to take such
action following a Security Insurer Default, such party or parties shall also be
entitled to take or omit to take such action following the Policy Expiration
Date and (ii) if such reference does not provide for another party or parties to
take or omit to take such action following a Security Insurer Default, then the
Indenture Trustee acting at the direction of the Majorityholders shall have the
right to take or omit to take any such action following the Policy Expiration
Date. In addition, any other provision of this Purchase Agreement or any other
Basic Document which is operative based in whole or in part on whether a
Security Insurer Default has or has not occurred shall, at

                                       25
<PAGE>

all times on or after the Policy Expiration Date, be deemed to refer to whether
or not the Policy Expiration Date has occurred.]

                                       26
<PAGE>

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

                                           [TRIAD FINANCIAL SPECIAL PURPOSE LLC]

                                           By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                           TRIAD FINANCIAL CORPORATION

                                           By:
                                              ----------------------------------
                                              Name:
                                              Title:

                          [Signature Page to the Purchase Agreement]

<PAGE>

                                     ANNEX A
                                  DEFINED TERMS

<PAGE>

                                                                       EXHIBIT A
                                                              FORM OF ASSIGNMENT
                                                                   (RECEIVABLES)

                                   ASSIGNMENT

               For value received, in accordance with the Purchase Agreement
dated as of __________, 20__ (the "Purchase Agreement") between the undersigned
and [Triad Financial Special Purpose LLC] (the "Transferor"), the undersigned
does hereby sell, transfer, assign and otherwise convey unto the Transferor,
without recourse (subject to the obligations in the Purchase Agreement and the
[Sale and Servicing Agreement/Pooling and Servicing Agreement]), all right,
title and interest of Triad in and to: (i) the Receivables listed in Schedule A
hereto, all monies received on the Receivables after the Cutoff Date and, with
respect to any Receivables which are Precomputed Receivables, the related
Payahead Amount and all Liquidation Proceeds and Recoveries received with
respect to the Receivables; (ii) the security interests in the related Financed
Vehicles granted by the related Obligors pursuant to the Receivables and any
other interest of Triad in such Financed Vehicles, including, without
limitation, the certificates of title and any other evidence of ownership with
respect to such Financed Vehicles; (iii) any proceeds from claims on any
physical damage, credit life and credit accident and health insurance policies
or certificates or the VSI Policy, if any, relating to the related Financed
Vehicles or the related Obligors, including any rebates or premiums; (iv)
property (including the right to receive future Liquidation Proceeds) that
secures a Receivable and that has been acquired pursuant to the liquidation of
such Receivable; (v) refunds for the costs of extended service contracts with
respect to the related Financed Vehicles, refunds of unearned premiums with
respect to credit life and credit accident and health insurance policies or
certificates covering a related Obligor or Financed Vehicle or his or her
obligations with respect to such Financed Vehicle and any recourse to Dealers
for any of the foregoing; (vi) the Legal File and the Receivable File related to
each Receivable and any and all other documents that Triad keeps on file in
accordance with its customary procedures relating to the Receivables, the
related Obligors or the related Financed Vehicles; (vii) all amounts and
property from time to time held in or credited to the Lock-Box Account, to the
extent such amounts and property relate to the Receivables; (viii) any proceeds
from recourse against Dealers (other than any Chargeback Obligations) including,
without limitation, all Dealer Title Guaranties with respect to the sale of the
Receivables; and (ix) the proceeds of any and all of the foregoing. The
foregoing sale does not constitute and is not intended to result in any
assumption by the Transferor of any obligation of the undersigned to the
Obligors, insurers or any other person in connection with the Receivables, the
related Legal Files, the related Receivable Files, any insurance policies or any
agreement or instrument relating to any of them.

               This Assignment is made pursuant to and upon the representations,
warranties and agreements on the part of the undersigned contained in the
Purchase Agreement and is to be governed by the Purchase Agreement.

               Capitalized terms used herein and not otherwise defined shall
have the meanings assigned to them in the Purchase Agreement.

<PAGE>

               THIS ASSIGNMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF
LAWS PRINCIPLES (EXCEPT WITH REGARD TO THE UCC).

                                      A-2
<PAGE>

               IN WITNESS WHEREOF, the undersigned has caused this Assignment to
be duly executed as of __________, 20__.

                                           TRIAD FINANCIAL CORPORATION

                                           By:
                                              ----------------------------------
                                              Name:
                                              Title:

                                      A-3
<PAGE>

                                                                      SCHEDULE A
                                                          Schedule of Receivable

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