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<B><FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>
</B><P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">____________________</P>
</B><P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">FORM 8-K<BR>
CURRENT REPORT</P>
</B><P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of the<BR>
Securities Exchange Act of 1934</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">Date of Report (date of earliest event reported):</P>
<P ALIGN="CENTER">December 15, 2004</P>
<P ALIGN="CENTER">&nbsp;</P>
<B><P ALIGN="CENTER">Nissan Auto Leasing LLC II<U><BR>
</B>(Originator of the Note Issuer and Transferor of the SUBI Certificate to the Note Issuer)<B><BR>
</B></U>(Exact name of registrant as specified in its charter)</P>
<B><P ALIGN="CENTER">Nissan-Infiniti LT<BR>
</B><U>(Issuer with respect to the SUBI Certificate)</U><BR>
(Exact name of registrant as specified in its charter)</P>
<B><P ALIGN="CENTER">NILT Trust</B><BR>
<U>(Transferor of the SUBI Certificate to Nissan Auto Leasing LLC II)</U><BR>
(Exact name of registrant as specified in its charter)</P>
<B><P ALIGN="CENTER">Nissan Auto Lease Trust 2004-A</B><BR>
(<U>Issuer with respect to the Notes)</U><BR>
(Exact name of registrant as specified in its charter)</P>
<P>&nbsp;</P></FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=542>
<TR><TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">Delaware</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">333-106763<BR>
333-106763-01<BR>
333-106763-02<BR>
333-118256</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">95-4885574<BR>
33-6226449<BR>
52-6935346<BR>
51-6557795</FONT></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">(State or other Jurisdiction of incorporation)</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">(Commission Registration Number)</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">(I.R.S. Employer Identification Number)</FONT></TD>
</TR>
</TABLE>
</CENTER></P>

<FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">&nbsp;</P>
<P>&nbsp;</P>
<P ALIGN="CENTER">990 WEST 190TH STREET<BR>
TORRANCE, CALIFORNIA 90502</P>
<P ALIGN="CENTER">___________________________________</P>
<P ALIGN="CENTER">(Address of principal executive office)</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">Registrant's telephone number, including area code: (310) 719-8509</P>
<P ALIGN="CENTER">&nbsp;</P>
</FONT><P><HR></P>
<FONT FACE="Verdana" SIZE=2><P>&nbsp;</P>
<B><P>Item 5.&#9;<U>Other Events</U>.</P>
</B><P ALIGN="JUSTIFY">Pursuant to Section 8.09(b) of the 2004-A Servicing Supplement, dated as of October 28, 2004 (the "Agreement"), by and among Nissan-Infiniti LT, as titling trust, NILT Trust, as UTI beneficiary, and Nissan Motor Acceptance Corporation, as servicer (the "Servicer"), the Servicer has delivered to the Trustee (as defined in the Agreement), a Settlement Statement (as defined in the Agreement). The Settlement Statement is attached hereto as Exhibit 20.1.</P>
<P>&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=631>
<TR><TD WIDTH="16%" VALIGN="TOP">
<B><FONT FACE="Verdana" SIZE=2><P>Item 7(c).</B></FONT></TD>
<TD WIDTH="84%" VALIGN="TOP">
<B><U><FONT FACE="Verdana" SIZE=2><P>Financial Statements, Pro Forma Financial Information and Exhibits</U>.</B></FONT></TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="84%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P>(a) Not applicable.</FONT></TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="84%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P>(b) Not applicable.</FONT></TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="84%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P>(c) Exhibits</FONT></TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="84%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P>The exhibit number corresponds with Item 601(a) of Regulation S-K.</FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=626>
<TR><TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">
<B><U><FONT FACE="Verdana" SIZE=2><P>Exhibit No</U>.</B></FONT></TD>
<TD WIDTH="62%" VALIGN="TOP">
<B><U><FONT FACE="Verdana" SIZE=2><P>Description</B></U></FONT></TD>
</TR>
<TR><TD WIDTH="16%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="22%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P>20.1</FONT></TD>
<TD WIDTH="62%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P>Settlement Statement for the month ended November 30, 2004</FONT></TD>
</TR>
</TABLE>

<P><HR></P>
<B><U><FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">SIGNATURES</P>
</U><P ALIGN="CENTER">&nbsp;</P>
</B><P ALIGN="JUSTIFY">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the undersigned thereunto duly authorized.</P>
<P>&nbsp;</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=674>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="54%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Verdana" SIZE=2><P>NISSAN AUTO LEASING LLC II</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="41%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P>By:</FONT></TD>
<TD WIDTH="41%" VALIGN="TOP" COLSPAN=3>
<FONT FACE="Verdana" SIZE=2><P>___<U>/s/</U>___<U>Joji Tagawa</U></FONT><FONT SIZE=2>_________</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="41%" VALIGN="TOP" COLSPAN=3>
<FONT FACE="Verdana" SIZE=2><P>Joji Tagawa<BR>
Treasurer</FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=672>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="54%" VALIGN="TOP" COLSPAN=7>
<FONT FACE="Verdana" SIZE=2><P>NISSAN AUTO LEASE TRUST 2004-A</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P>By:</FONT></TD>
<TD WIDTH="46%" VALIGN="TOP" COLSPAN=6>
<FONT FACE="Verdana" SIZE=2><P>Nissan Auto Leasing LLC II,<BR>
solely as originator of<BR>
Nissan Auto Lease Trust 2004-A<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Verdana" SIZE=2><P>By:</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Verdana" SIZE=2><P>___<U>/s/</U>___<U>Joji Tagawa</U></FONT><FONT SIZE=2>______</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="8%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Verdana" SIZE=2><P>Joji Tagawa<BR>
Treasurer</FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=671>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="54%" VALIGN="TOP" COLSPAN=5>
<FONT FACE="Verdana" SIZE=2><P>NILT TRUST</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P>By:</FONT></TD>
<TD WIDTH="44%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Verdana" SIZE=2><P>Nissan Motor Acceptance Corporation,<BR>
solely as grantor and beneficiary</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="44%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P>By:</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP" COLSPAN=3>
<FONT FACE="Verdana" SIZE=2><P>___<U>/s/</U>___<U>Joji Tagawa</U></FONT><FONT SIZE=2>_______</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="10%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="11%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="33%" VALIGN="TOP" COLSPAN=3>
<FONT FACE="Verdana" SIZE=2><P>Joji Tagawa<BR>
Treasurer</FONT></TD>
</TR>
</TABLE>


<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=671>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="54%" VALIGN="TOP" COLSPAN=7>
<FONT FACE="Verdana" SIZE=2><P>NISSAN-INFINITI LT</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Verdana" SIZE=2><P>By:</FONT></TD>
<TD WIDTH="42%" VALIGN="TOP" COLSPAN=5>
<FONT FACE="Verdana" SIZE=2><P>Nissan Motor Acceptance Corporation,<BR>
solely as originator of<BR>
Nissan-Infiniti LT</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="26%" VALIGN="TOP" COLSPAN=4>
<P>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP" COLSPAN=3>
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP" COLSPAN=2>
<FONT FACE="Verdana" SIZE=2><P>By:</FONT></TD>
<TD WIDTH="35%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Verdana" SIZE=2><P>___<U>/s/</U>_<U>Joji Tagawa</U></FONT><FONT SIZE=2>_________</FONT></TD>
</TR>
<TR><TD WIDTH="46%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="TOP" COLSPAN=2>
<P>&nbsp;</TD>
<TD WIDTH="35%" VALIGN="TOP" COLSPAN=4>
<FONT FACE="Verdana" SIZE=2><P>Joji Tagawa<BR>
Treasurer</FONT></TD>
</TR>
</TABLE>

<FONT FACE="Verdana" SIZE=2><P>&nbsp;</P>
<P>December 23, 2004</P>
<P>&nbsp;</P>
</FONT><P><HR></P>
<B><FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">EXHIBIT INDEX</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P></B></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=676>
<TR><TD WIDTH="30%" VALIGN="TOP">
<B><U><FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">Exhibit No.</B></U></FONT></TD>
<TD WIDTH="39%" VALIGN="TOP">
<B><U><FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">Description</B></U></FONT></TD>
<TD WIDTH="31%" VALIGN="TOP">
<B><U><FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">Sequentially <BR>
Numbered Page</B></U></FONT></TD>
</TR>
<TR><TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">20.1</FONT></TD>
<TD WIDTH="39%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">Settlement Statement for the month ended<BR>
November 30, 2004</FONT></TD>
<TD WIDTH="31%" VALIGN="TOP">
<FONT FACE="Verdana" SIZE=2><P ALIGN="CENTER">5</FONT></TD>
</TR>
</TABLE>

<P><HR></P>
<FONT FACE="Verdana" SIZE=2><P ALIGN="RIGHT">Exhibit 20.1</P>
<P ALIGN="CENTER">NISSAN AUTO LEASE TRUST 2004-A</P>
<P ALIGN="CENTER">Settlement Statement</P>
<P ALIGN="CENTER">for the month ended November 30, 2004</P>
<P>NALT 2004-A</P></FONT>
<TABLE BORDER CELLSPACING=1 WIDTH=779>
<TR><TD WIDTH="23%" VALIGN="MIDDLE" COLSPAN=2>
<P>Collection Period Start</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P>01-Nov-04</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>Distribution Date</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>15-Dec-04</TD>
<TD WIDTH="29%" VALIGN="MIDDLE" COLSPAN=3 ROWSPAN=4>&nbsp;</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="MIDDLE" COLSPAN=2>
<P>Collection Period End</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P>30-Nov-04</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>30/360 Days</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>30</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="MIDDLE" COLSPAN=2>
<P>Beg. of Interest Period</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P>15-Nov-04</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>Actual/360 Days</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>30</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="MIDDLE" COLSPAN=2>
<P>End of Interest Period</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P>15-Dec-04</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">&nbsp;</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<P>SUMMARY</TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P>Coupon Rate</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P>Initial Balance</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>Beginning Balance</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>Ending Balance</TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P>Pool Factor</TD>
<TD WIDTH="21%" VALIGN="MIDDLE" COLSPAN=2 ROWSPAN=9>&nbsp;</TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="MIDDLE" COLSPAN=2>
<P>Total Portfolio</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,680,098,819.60 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,622,316,069.47 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,592,319,596.60 </TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P>0.9477535 </TD>
</TR>
<TR><TD WIDTH="23%" VALIGN="MIDDLE" COLSPAN=2>
<P>Total Securities</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,680,098,819.60 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,622,316,069.47 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,592,319,596.60 </TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P>0.9477535 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Class A-1 Notes</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2.105630%</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">265,000,000.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">207,217,249.87 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">177,220,777.00 </TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P>0.6687576 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Class A-2 Notes</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2.550000%</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">260,000,000.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">260,000,000.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">260,000,000.00 </TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P>1.0000000 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Class A-3 Notes</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2.900000%</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">357,000,000.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">357,000,000.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">357,000,000.00 </TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P>1.0000000 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Class A-4a Notes</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2.170000%</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">488,000,000.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">488,000,000.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">488,000,000.00 </TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P>1.0000000 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Class A-4b Notes</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">3.180000%</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">100,000,000.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">100,000,000.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">100,000,000.00 </TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P>1.0000000 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Certificates</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.000000%</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">210,098,819.60 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">210,098,819.60 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">210,098,819.60 </TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P>1.0000000 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8 ROWSPAN=2>&nbsp;</TD>
</TR>
<TR></TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P>Principal Payment Due</TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P>Interest Payment</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>Principal per $1000 Face Amount</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>Interest per $1000 Face Amount</TD>
<TD WIDTH="29%" VALIGN="MIDDLE" COLSPAN=3 ROWSPAN=7>&nbsp;</TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Class A-1 Notes</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">29,996,472.87 </TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">363,602.38 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>113.1942372 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>1.3720845 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Class A-2 Notes</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">552,500.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>0.0000000 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>2.1250000 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Class A-3 Notes</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">862,750.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>0.0000000 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>2.4166667 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Class A-4a Notes</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">882,466.67 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>0.0000000 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>1.8083333 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Class A-4b</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">265,000.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>0.0000000 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>2.6500000 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Certificates</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>0.0000000 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>0.0000000 </TD>
</TR>
<TR><TD WIDTH="10%" VALIGN="MIDDLE">
<P>Total Securities</TD>
<TD WIDTH="13%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">29,996,472.87 </TD>
<TD WIDTH="10%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2,926,319.05 </TD>
<TD WIDTH="67%" VALIGN="MIDDLE" COLSPAN=5>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<P>I. COLLECTIONS</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<I><P>Lease Payments: ( Lease SUBI)</I></TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Monthly Principal</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">20,919,326.01 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Monthly Interest</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">6,281,838.17 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Monthly Payments</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">27,201,164.18 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Interest Rate Cap Payments</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<I><P>Advances:</I></TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Aggregate Monthly Payment Advances</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,406,153.83 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Aggregate Sales Proceeds Advance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">812,499.86 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Advances</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2,218,653.69 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<I><P>Vehicle Disposition Proceeds:</I></TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Reallocation Payments</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,041,340.08 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Repurchase Payments</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Net Auction Proceeds</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Recoveries</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Net Liquidation Proceeds</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">5,874,703.07 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Excess Wear and Tear and Excess Mileage</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2,647.56 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Remaining Payoffs</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Net Insurance Proceeds</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">857,613.85 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Residual Value Surplus</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,149.03 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Collections</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">37,197,271.46 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<P>II. COLLATERAL POOL BALANCE DATA</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="MIDDLE" COLSPAN=3>&nbsp;</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">Number </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">Book Amount </TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">Discount Rate</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P>Securitization Value</TD>
<TD WIDTH="9%" VALIGN="MIDDLE" ROWSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="MIDDLE" COLSPAN=3>
<P>Pool Balance - Beginning of Period</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">70,303 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,656,828,431.03 </TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">4.50000%</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,622,316,069.47 </TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="MIDDLE" COLSPAN=3>
<P>Total Depreciation Received</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P>- </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(20,999,489.06)</TD>
<TD WIDTH="8%" VALIGN="MIDDLE" ROWSPAN=5>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(21,133,898.16)</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="MIDDLE" COLSPAN=3>
<P>Principal Amount of Gross Losses</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(78)</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(2,045,947.25)</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(2,065,917.99)</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="MIDDLE" COLSPAN=3>
<P>Repurchase / Reallocation</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="MIDDLE" COLSPAN=3>
<P>Early Terminations</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(8)</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(143,124.32)</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(132,239.46)</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="MIDDLE" COLSPAN=3>
<P>Scheduled Terminations</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(273)</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(6,600,229.84)</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(6,664,417.26)</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="MIDDLE" COLSPAN=3>
<P>Pool Balance - End of Period</TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">69,944 </TD>
<TD WIDTH="19%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,627,039,640.56 </TD>
<TD WIDTH="8%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">4.50000%</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,592,319,596.60 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<P>III. DISTRIBUTIONS</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Collections</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">37,197,271.46 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Reserve Amounts Available for Distribution</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Available for Distribution</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">37,197,271.46 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>1. Amounts due Indenture Trustee as Compensation or Indemnity</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>2. Reimbursement of Payment Advance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,235,242.53 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>3. Reimbursement of Sales Proceeds Advance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">409,186.50 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<P>4. Servicing Fee:</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Servicing Fee Due</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,351,930.06 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Servicing Fee Paid</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,351,930.06 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Servicing Fee Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Trustee, Advances and Servicing Fee Paid</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2,996,359.09 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<P>5. Interest:</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<U><P>Class A-1 Notes Monthly Interest</U></TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-1 Notes Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-1 Notes Interest on Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-1 Notes Monthly Available Interest Distribution Amount</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">363,602.38 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-1 Notes Monthly Interest Paid</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">363,602.38 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Chg in Class A-1 Notes Int. Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<U><P>Class A-2 Notes Monthly Interest</U></TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-2 Notes Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-2 Notes Interest on Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-2 Notes Monthly Available Interest Distribution Amount</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">552,500.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-2 Notes Monthly Interest Paid</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">552,500.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Chg in Class A-2 Notes Int. Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<U><P>Class A-3 Notes Monthly Interest</U></TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-3 Notes Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-3 Notes Interest on Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-3 Notes Monthly Available Interest Distribution Amount</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">862,750.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-3 Notes Monthly Interest Paid</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">862,750.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Chg in Class A-3a Notes Int. Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<U><P>Class A-4 Monthly Interest</U></TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-4a Notes Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-4a Notes Interest on Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">882,466.67 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-4a Notes Monthly Available Interest Distribution Amount</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-4a Notes Monthly Interest Paid</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">882,466.67 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Chg in Class A-4a Notes Int. Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>&nbsp;</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-4b Notes Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-4b Notes Interest on Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-4b Notes Monthly Available Interest Distribution Amount</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">265,000.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Class A-4b Notes Monthly Interest Paid</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">265,000.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Chg in Class A-4b Notes Int. Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<U><P>Certificate Monthly Interest</U></TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Certificate Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Certificate Interest on Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Certificate Monthly Available Interest Distribution Amount</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Certificate Monthly Interest Paid</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Chg in Certificate Int. Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<U><P>Total Note and Certificate Monthly Interest</U></TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Note and Certificate Monthly Interest Due</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2,926,319.05 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Note and Certificate Monthly Interest Paid</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2,926,319.05 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Note and Certificate Interest Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Chg in Total Note and Certificate Int. Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Available for Principal Distribution</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">31,274,593.32 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<P>6. Total Monthly Principal Paid on the Notes</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<U><P>Total Monthly Principal Paid on the Class A Notes</U></TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">29,996,472.87 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Class A Noteholders' Principal Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Class A Noteholders' Principal Distributable Amount</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">29,996,472.87 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Chg in Total Class A Noteholders' Principal Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>7. Total Monthly Principal Paid on the Certificates</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Certificateholders' Principal Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Total Certificateholders' Principal Distributable Amount</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Chg in Total Certificateholders' Principal Carryover Shortfall</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Remaining Available Collections</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,278,120.45 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<P>IV. RESERVE ACCOUNT</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Initial Reserve Account Amount</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">25,201,482.29 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Required Reserve Account Amount</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">50,402,964.59 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Beginning Reserve Account Balance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">35,044,151.19 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Reinvestment Income for the Period</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">77,423.18 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Reserve Fund Available for Distribution</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">35,121,574.37 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Reserve Fund Draw Amount</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Deposit of Remaining Available Collections</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,278,120.45 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Gross Reserve Account Balance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">36,399,694.82 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Remaining Available Collections Released to Seller</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.00 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Ending Reserve Account Balance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">36,399,694.82 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<P>V. POOL STATISTICS</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Weighted Average Remaining Maturity</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">29.73 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Monthly Prepayment Speed</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">11.000%</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Lifetime Prepayment Speed</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">-81.000%</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>&nbsp;</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P>$</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P>units</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Recoveries of Defaulted and Casualty Receivables</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,247,038.33 </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Securitization Value of Defaulted Receivables and Casualty Receivables</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2,065,917.99 </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">78 </TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Aggregate Defaulted and Casualty Gain (Loss)</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(818,879.66)</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Pool Balance at Beginning of Collection Period</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,622,316,069.47 </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Net Loss Ratio</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">-0.0505%</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Cumulative Net Losses for all Periods</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.0444%</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">746,586.76 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Delinquent Receivables:</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P>Amount </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P>Number </TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>31-60 Days Delinquent</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">15,421,163.08 </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">635</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>61-90 Days Delinquent</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">2,591,597.70 </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">100</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>91-120+ Days Delinquent</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">550,667.26 </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">20</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Total Delinquent Receivables:</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">18,563,428.04 </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">755</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>60+ Days Delinquencies as Percentage of Receivables </TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">0.19%</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Aggregate Sales Performance of Auctioned Vehicles</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P>$</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P>units</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Sales Proceeds</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">624,813.00 </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">34</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Securitization Value</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">751,612.82 </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Aggregate Residual Gain (Loss)</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(126,799.82)</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Cumulative Sales Performance of Auctioned Vehicles</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P>$ </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P>units</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Cumulative Sales Proceeds</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,050,814.00 </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">58</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Cumulative Securitization Value</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,282,339.38 </TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD WIDTH="79%" VALIGN="MIDDLE" COLSPAN=6>
<P>Cumulative Residual Gain (Loss)</TD>
<TD WIDTH="12%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">(231,525.38)</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>
<P>VI. Reconciliation of Advances</TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Beginning Balance of Residual Advance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">597,331.62 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Reimbursement of Outstanding Advance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">409,186.50 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Additional Advances for current period</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">812,499.86 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Ending Balance of Residual Advance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,000,644.98 </TD>
</TR>
<TR><TD VALIGN="MIDDLE" COLSPAN=8>&nbsp;</TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Beginning Balance of Payment Advance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">3,089,568.61 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Reimbursement of Outstanding Payment Advance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,235,242.53 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Additional Payment Advances for current period</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">1,406,153.83 </TD>
</TR>
<TR><TD WIDTH="91%" VALIGN="MIDDLE" COLSPAN=7>
<P>Ending Balance of Payment Advance</TD>
<TD WIDTH="9%" VALIGN="MIDDLE">
<P ALIGN="RIGHT">3,260,479.91 </TD>
</TR>
</TABLE>

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a041104nalt
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
December 15, 2004
Nissan Auto Leasing LLC II
(Originator of the Note Issuer and Transferor of the SUBI Certificate to the Note Issuer)
(Exact name of registrant as specified in its charter)
Nissan-Infiniti LT
(Issuer with respect to the SUBI Certificate)
(Exact name of registrant as specified in its charter)
NILT Trust
(Transferor of the SUBI Certificate to Nissan Auto Leasing LLC II)
(Exact name of registrant as specified in its charter)
Nissan Auto Lease Trust 2004-A
(
Issuer with respect to the Notes)
(Exact name of registrant as specified in its charter)
Delaware
333-106763
333-106763-01
333-106763-02
333-118256
95-4885574
33-6226449
52-6935346
51-6557795
(State or other Jurisdiction of incorporation)
(Commission Registration Number)
(I.R.S. Employer Identification Number)
990 WEST 190TH STREET
TORRANCE, CALIFORNIA 90502
___________________________________
(Address of principal executive office)
Registrant's telephone number, including area code: (310) 719-8509
Item 5.
Other Events
.
Pursuant to Section 8.09(b) of the 2004-A Servicing Supplement, dated as of October 28, 2004 (the "Agreement"), by and among Nissan-Infiniti LT, as titling trust, NILT Trust, as UTI beneficiary, and Nissan Motor Acceptance Corporation, as servicer (the "Servicer"), the Servicer has delivered to the Trustee (as defined in the Agreement), a Settlement Statement (as defined in the Agreement). The Settlement Statement is attached hereto as Exhibit 20.1.
Item 7(c).
Financial Statements, Pro Forma Financial Information and Exhibits
.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits
The exhibit number corresponds with Item 601(a) of Regulation S-K.
Exhibit No
.
Description
20.1
Settlement Statement for the month ended November 30, 2004
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the undersigned thereunto duly authorized.
NISSAN AUTO LEASING LLC II
By:
___
/s/
___
Joji Tagawa
_________
Joji Tagawa
Treasurer
NISSAN AUTO LEASE TRUST 2004-A
By:
Nissan Auto Leasing LLC II,
solely as originator of
Nissan Auto Lease Trust 2004-A
By:
___
/s/
___
Joji Tagawa
______
Joji Tagawa
Treasurer
NILT TRUST
By:
Nissan Motor Acceptance Corporation,
solely as grantor and beneficiary
By:
___
/s/
___
Joji Tagawa
_______
Joji Tagawa
Treasurer
NISSAN-INFINITI LT
By:
Nissan Motor Acceptance Corporation,
solely as originator of
Nissan-Infiniti LT
By:
___
/s/
_
Joji Tagawa
_________
Joji Tagawa
Treasurer
December 23, 2004
EXHIBIT INDEX
Exhibit No.
Description
Sequentially
Numbered Page
20.1
Settlement Statement for the month ended
November 30, 2004
5
Exhibit 20.1
NISSAN AUTO LEASE TRUST 2004-A
Settlement Statement
for the month ended November 30, 2004
NALT 2004-A
Collection Period Start
01-Nov-04
Distribution Date
15-Dec-04
Collection Period End
30-Nov-04
30/360 Days
30
Beg. of Interest Period
15-Nov-04
Actual/360 Days
30
End of Interest Period
15-Dec-04
SUMMARY
Coupon Rate
Initial Balance
Beginning Balance
Ending Balance
Pool Factor
Total Portfolio
1,680,098,819.60
1,622,316,069.47
1,592,319,596.60
0.9477535
Total Securities
1,680,098,819.60
1,622,316,069.47
1,592,319,596.60
0.9477535
Class A-1 Notes
2.105630%
265,000,000.00
207,217,249.87
177,220,777.00
0.6687576
Class A-2 Notes
2.550000%
260,000,000.00
260,000,000.00
260,000,000.00
1.0000000
Class A-3 Notes
2.900000%
357,000,000.00
357,000,000.00
357,000,000.00
1.0000000
Class A-4a Notes
2.170000%
488,000,000.00
488,000,000.00
488,000,000.00
1.0000000
Class A-4b Notes
3.180000%
100,000,000.00
100,000,000.00
100,000,000.00
1.0000000
Certificates
0.000000%
210,098,819.60
210,098,819.60
210,098,819.60
1.0000000
Principal Payment Due
Interest Payment
Principal per $1000 Face Amount
Interest per $1000 Face Amount
Class A-1 Notes
29,996,472.87
363,602.38
113.1942372
1.3720845
Class A-2 Notes
0.00
552,500.00
0.0000000
2.1250000
Class A-3 Notes
0.00
862,750.00
0.0000000
2.4166667
Class A-4a Notes
0.00
882,466.67
0.0000000
1.8083333
Class A-4b
0.00
265,000.00
0.0000000
2.6500000
Certificates
0.00
0.00
0.0000000
0.0000000
Total Securities
29,996,472.87
2,926,319.05
I. COLLECTIONS
Lease Payments: ( Lease SUBI)
Monthly Principal
20,919,326.01
Monthly Interest
6,281,838.17
Total Monthly Payments
27,201,164.18
Interest Rate Cap Payments
0.00
Advances:
Aggregate Monthly Payment Advances
1,406,153.83
Aggregate Sales Proceeds Advance
812,499.86
Total Advances
2,218,653.69
Vehicle Disposition Proceeds:
Reallocation Payments
1,041,340.08
Repurchase Payments
0.00
Net Auction Proceeds
0.00
Recoveries
0.00
Net Liquidation Proceeds
5,874,703.07
Excess Wear and Tear and Excess Mileage
2,647.56
Remaining Payoffs
0.00
Net Insurance Proceeds
857,613.85
Residual Value Surplus
1,149.03
Total Collections
37,197,271.46
II. COLLATERAL POOL BALANCE DATA
Number
Book Amount
Discount Rate
Securitization Value
Pool Balance - Beginning of Period
70,303
1,656,828,431.03
4.50000%
1,622,316,069.47
Total Depreciation Received
-
(20,999,489.06)
(21,133,898.16)
Principal Amount of Gross Losses
(78)
(2,045,947.25)
(2,065,917.99)
Repurchase / Reallocation
0
0.00
0.00
Early Terminations
(8)
(143,124.32)
(132,239.46)
Scheduled Terminations
(273)
(6,600,229.84)
(6,664,417.26)
Pool Balance - End of Period
69,944
1,627,039,640.56
4.50000%
1,592,319,596.60
III. DISTRIBUTIONS
Total Collections
37,197,271.46
Reserve Amounts Available for Distribution
0.00
Total Available for Distribution
37,197,271.46
1. Amounts due Indenture Trustee as Compensation or Indemnity
0.00
2. Reimbursement of Payment Advance
1,235,242.53
3. Reimbursement of Sales Proceeds Advance
409,186.50
4. Servicing Fee:
Servicing Fee Due
1,351,930.06
Servicing Fee Paid
1,351,930.06
Servicing Fee Shortfall
0.00
Total Trustee, Advances and Servicing Fee Paid
2,996,359.09
5. Interest:
Class A-1 Notes Monthly Interest
Class A-1 Notes Interest Carryover Shortfall
0.00
Class A-1 Notes Interest on Interest Carryover Shortfall
0.00
Class A-1 Notes Monthly Available Interest Distribution Amount
363,602.38
Class A-1 Notes Monthly Interest Paid
363,602.38
Chg in Class A-1 Notes Int. Carryover Shortfall
0.00
Class A-2 Notes Monthly Interest
Class A-2 Notes Interest Carryover Shortfall
0.00
Class A-2 Notes Interest on Interest Carryover Shortfall
0.00
Class A-2 Notes Monthly Available Interest Distribution Amount
552,500.00
Class A-2 Notes Monthly Interest Paid
552,500.00
Chg in Class A-2 Notes Int. Carryover Shortfall
0.00
Class A-3 Notes Monthly Interest
0.00
Class A-3 Notes Interest Carryover Shortfall
0.00
Class A-3 Notes Interest on Interest Carryover Shortfall
0.00
Class A-3 Notes Monthly Available Interest Distribution Amount
862,750.00
Class A-3 Notes Monthly Interest Paid
862,750.00
Chg in Class A-3a Notes Int. Carryover Shortfall
0.00
Class A-4 Monthly Interest
Class A-4a Notes Interest Carryover Shortfall
0.00
Class A-4a Notes Interest on Interest Carryover Shortfall
882,466.67
Class A-4a Notes Monthly Available Interest Distribution Amount
0.00
Class A-4a Notes Monthly Interest Paid
882,466.67
Chg in Class A-4a Notes Int. Carryover Shortfall
0.00
Class A-4b Notes Interest Carryover Shortfall
0.00
Class A-4b Notes Interest on Interest Carryover Shortfall
0.00
Class A-4b Notes Monthly Available Interest Distribution Amount
265,000.00
Class A-4b Notes Monthly Interest Paid
265,000.00
Chg in Class A-4b Notes Int. Carryover Shortfall
0.00
Certificate Monthly Interest
Certificate Interest Carryover Shortfall
0.00
Certificate Interest on Interest Carryover Shortfall
0.00
Certificate Monthly Available Interest Distribution Amount
0.00
Certificate Monthly Interest Paid
0.00
Chg in Certificate Int. Carryover Shortfall
0.00
0.00
Total Note and Certificate Monthly Interest
Total Note and Certificate Monthly Interest Due
2,926,319.05
Total Note and Certificate Monthly Interest Paid
2,926,319.05
Total Note and Certificate Interest Carryover Shortfall
0.00
Chg in Total Note and Certificate Int. Carryover Shortfall
0.00
Total Available for Principal Distribution
31,274,593.32
6. Total Monthly Principal Paid on the Notes
Total Monthly Principal Paid on the Class A Notes
29,996,472.87
Total Class A Noteholders' Principal Carryover Shortfall
0.00
Total Class A Noteholders' Principal Distributable Amount
29,996,472.87
Chg in Total Class A Noteholders' Principal Carryover Shortfall
0.00
7. Total Monthly Principal Paid on the Certificates
0.00
Total Certificateholders' Principal Carryover Shortfall
0.00
Total Certificateholders' Principal Distributable Amount
0.00
Chg in Total Certificateholders' Principal Carryover Shortfall
0.00
Remaining Available Collections
1,278,120.45
IV. RESERVE ACCOUNT
Initial Reserve Account Amount
25,201,482.29
Required Reserve Account Amount
50,402,964.59
Beginning Reserve Account Balance
35,044,151.19
Reinvestment Income for the Period
77,423.18
Reserve Fund Available for Distribution
35,121,574.37
Reserve Fund Draw Amount
0.00
Deposit of Remaining Available Collections
1,278,120.45
Gross Reserve Account Balance
36,399,694.82
Remaining Available Collections Released to Seller
0.00
Ending Reserve Account Balance
36,399,694.82
V. POOL STATISTICS
Weighted Average Remaining Maturity
29.73
Monthly Prepayment Speed
11.000%
Lifetime Prepayment Speed
-81.000%
$
units
Recoveries of Defaulted and Casualty Receivables
1,247,038.33
Securitization Value of Defaulted Receivables and Casualty Receivables
2,065,917.99
78
Aggregate Defaulted and Casualty Gain (Loss)
(818,879.66)
Pool Balance at Beginning of Collection Period
1,622,316,069.47
Net Loss Ratio
-0.0505%
Cumulative Net Losses for all Periods
0.0444%
746,586.76
Delinquent Receivables:
Amount
Number
31-60 Days Delinquent
15,421,163.08
635
61-90 Days Delinquent
2,591,597.70
100
91-120+ Days Delinquent
550,667.26
20
Total Delinquent Receivables:
18,563,428.04
755
60+ Days Delinquencies as Percentage of Receivables
0.19%
Aggregate Sales Performance of Auctioned Vehicles
$
units
Sales Proceeds
624,813.00
34
Securitization Value
751,612.82
Aggregate Residual Gain (Loss)
(126,799.82)
Cumulative Sales Performance of Auctioned Vehicles
$
units
Cumulative Sales Proceeds
1,050,814.00
58
Cumulative Securitization Value
1,282,339.38
Cumulative Residual Gain (Loss)
(231,525.38)
VI. Reconciliation of Advances
Beginning Balance of Residual Advance
597,331.62
Reimbursement of Outstanding Advance
409,186.50
Additional Advances for current period
812,499.86
Ending Balance of Residual Advance
1,000,644.98
Beginning Balance of Payment Advance
3,089,568.61
Reimbursement of Outstanding Payment Advance
1,235,242.53
Additional Payment Advances for current period
1,406,153.83
Ending Balance of Payment Advance
3,260,479.91