<PAGE> 1
<TABLE>
<CAPTION>
MASTER SERVICER'S CERTIFICATE
(Delivered pursuant to Section 4.9
of the Master Sale and Servicing Agreement)
HOUSEHOLD FINANCE CORPORATION,
Master Servicer
HOUSEHOLD AUTO RECEIVABLES CORPORATION
HOUSEHOLD AUTOMOBILE REVOLVING TRUST I
Class A, B-1, B-2 and C Notes, Series 1998-1
<S> <C>
1. This Certificate relates to the October 17, 2000
Distribution Date occurring on
2. Series 1998-1 Information
(a) The amount of Collected Funds with respect $20,150,931.98
to the Collection Period was equal to
(b) The amount of Available Funds with respect $20,150,931.98
to the Collection Period was equal to
(c) The Liquidated Receivables for the $4,156,395.86
Collection Period was equal to
(d) Net Liquidation Proceeds for the $1,595,340.14
Collection Period was equal to
(i) The annualized net default rate 8.327288%
(e) The principal balance of Series 1998-1
Receivables at the beginning
of the Collection Period was equal to $377,372,165.77
(f) The principal balance of Series 1998-1
Receivables on the last day
of the Collection Period was equal to $360,747,322.08
(g) The aggregate outstanding balance of the
Series 1998-1 Receivables which were one
payment (1-29 days) delinquent as of
the close of business on the last day of the
Collection Period with respect to such $24,160,000.00
Distribution Date was equal to
(h) The aggregate outstanding balance of the
Series 1998-1 Receivables which were two
payments (30-59 days) delinquent as of
the close of business on the last day of the
Collection Period with respect to such $5,397,000.00
Distribution Date was equal to
<PAGE>
<PAGE> 2
(i) The aggregate outstanding balance of the
Series 1998-1 Receivables which were three or
more payments (60+ days) delinquent as
of the close of business on the last day of the
Collection Period with respect to such $5,049,000.00
Distribution Date was equal to
(j) The Base Servicing Fee paid on the $943,430.41
Distribution Date was equal to
(k) The Principal Distributable Amount for the $14,338,927.69
Distribution Date was equal to
(l) The Principal Amount Available for the $18,111,682.21
Distribution Date was equal to
(m) The Aggregate Note Principal Balance was $342,033,988.23
equal to
(n) The Aggregate Optimal Note Balance was $327,695,060.55
equal to
(o) The Targeted Credit Enhancement Amount was $49,602,756.79
equal to
(p) The Targeted Reserve Account Balance was $16,550,495.25
equal to
(q) The Targeted Credit Enhancement Amount as
a percentage of the Pool
Balance on the Distribution Date was 13.750000%
equal to
(r) The Reserve Account Deposit Amount for the $0.00
Distribution Date
(s) The Maximum Reserve Account Deposit Amount $1,432,709.14
for the Distribution Date
(t) The Reserve Account Shortfall for the $0.00
Distribution Date
(u) The amount on deposit in the Reserve $16,550,495.25
Account after distributions was equal to
(v) The amount on deposit in the Reserve
Account as a percentage of the Pool
Balance on the Distribution Date was 4.587836%
equal to
(w) The Targeted Overcollateralization Amount $33,052,261.53
was equal to
(x) The ending overcollateralization was equal $33,052,261.53
to
(y) The ending overcollateralization as a
percentage of the Pool Balance on the
Distribution Date was equal to 9.162164%
(z) The notional amount of the Interest Rate $180,389,524.80
Cap was equal to
(aa) Payments received under the Interest Rate $54,129.38
Cap were equal to
(ab) Libor Rate used in determining payments
received under the Interest Rate Cap was
equal to 6.622500%
(ac) The Weighed Average Coupon (WAC) was 19.499000%
equal to
(ad) The Weighed Average Remaining Maturity 35
(WAM) was equal to
<PAGE>
<PAGE> 3
3. Noteholder Information
(a) Class A-1
A. Information Regarding Distributions
B. Calculation of Class A-1 Interest 0.000000%
1. Class A-1 related Note Rate 5.330000%
2. Class A-1 principal balance - beginning $0.00
of period
3. Accrual convention Actual/360
4. Days in Interest Period 29
5. Class A-1 interest due $0.00
6. Class A-1 interest paid $0.00
7. Class A Interest Carryover Shortfall $0.00
with respect to Class A-1
8. Class A-1 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class A-1 principal balance
1. Class A-1 principal balance - beginning $0.00
of period
2. Class A-1 principal - amount due $0.00
3. Class A-1 principal - amount paid $0.00
4. Class A-1 principal balance - end of $0.00
period
5. Class A Principal Carryover Shortfall $0.00
with respect to Class A-1
6. Class A-1 unpaid principal with respect $0.00
to the Distribution Date
7. Class A-1 Notes as a percentage of the 0.000000%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 60.087836%
the Pool Balance on the Distribution Date
(b) Class A-2
A. Information Regarding Distributions
1. Total distribution per $1,000 $0.00
2. Principal distribution per $1,000 $0.00
3. Interest distribution per $1,000 $0.00
B. Calculation of Class A-2 Interest
1. Class A-2 related Note Rate 5.5140000%
2. Class A-2 principal balance - beginning $0.00
of period
3. Accrual convention Actual/360
4. Days in Interest Period 29
5. Class A-2 interest due $0.00
6. Class A-2 interest paid $0.00
7. Class A Interest Carryover Shortfall $0.00
with respect to Class A-2
8. Class A-2 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class A-2 principal balance
1. Class A-2 principal balance - beginning $0.00
of period
2. Class A-2 principal - amount due $0.00
3. Class A-2 principal - amount paid $0.00
4. Class A-2 principal balance - end of $0.00
period
5. Class A Principal Carryover Shortfall $0.00
with respect to Class A-2
6. Class A-2 unpaid principal with respect $0.00
to the Distribution Date
7. Class A-2 Notes as a percentage of the 0.000000%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 60.087836%
the Pool Balance on the Distribution Date
<PAGE>
<PAGE> 4
(c) Class A-3
A. Information Regarding Distributions
1. Total distribution per $1,000 $54.44
2. Principal distribution per $1,000 $50.47
3. Interest distribution per $1,000 $3.97
B. Calculation of Class A-3 Interest
1. Calculation of Class A-3 Note Rate
(a) Libor 6.622500%
(b) Spread 0.450000%
(c) Class A-3 related Note Rate 7.072500%
2. Class A-3 principal balance - $99,557,524.80
beginning of period
3. Accrual convention Actual/360
4. Days in Interest Period 29
5. Class A-3 interest due $567,208.26
6. Class A-3 interest paid $567,208.26
7. Class A Interest Carryover Shortfall $0.00
with respect to Class A-3
8. Class A-3 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class A-3 principal balance
1. Class A-3 principal balance - beginning $99,557,524.80
of period
2. Class A-3 principal - amount due $7,217,803.81
3. Class A-3 principal - amount paid $7,217,803.81
4. Class A-3 principal balance - end of $92,339,720.99
period
5. Class A Principal Carryover Shortfall $0.00
with respect to Class A-3
6. Class A-3 unpaid principal with respect $0.00
to the Distribution Date
7. Class A-3 Notes as a percentage of the 25.596786%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 60.087836%
the Pool Balance on the Distribution Date
(d) Class A-4
A. Information Regarding Distributions
1. Total distribution per $1,000 $5.73757
2. Principal distribution per $1,000 $0.00000
3. Interest distribution per $1,000 $5.73757
B. Calculation of Class A-4 Interest
1. Calculation of Class A-4 related Note
Rate
(a) Libor 6.622500%
(b) Spread 0.500000%
(c) Class A-4 related Note Rate 7.122500%
2. Class A-4 principal balance - $80,832,000.00
beginning of period
3. Accrual convention Actual/360
4. Days in Interest Period 29
5. Class A-4 interest due $463,779.21
6. Class A-4 interest paid $463,779.21
7. Class A Interest Carryover Shortfall $0.00
with respect to Class A-4
8. Class A-4 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class A-4 principal balance
1. Class A-4 principal balance - beginning $80,832,000.00
of period
2. Class A-4 principal - amount due $0.00
3. Class A-4 principal - amount paid $0.00
4. Class A-4 principal balance - end of $80,832,000.00
period
5. Class A Principal Carryover Shortfall $0.00
with respect to Class A-4
6. Class A-4 unpaid principal with respect $0.00
to the Distribution Date
7. Class A-4 Notes as a percentage of the 22.406819%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 60.087836%
the Pool Balance on the Distribution Date
<PAGE>
<PAGE> 5
(e) Class A-5
A. Information Regarding Distributions
1. Total distribution per $1,000 $22.23696
2. Principal distribution per $1,000 $20.08984
3. Interest distribution per $1,000 $2.14712
B. Calculation of Class A-5 Interest
1. Class A-5 related Note Rate 5.650000%
2. Class A-5 principal balance - beginning $45,602,522.45
of period
3. Accrual convention 30/360
4. Days in Interest Period 29
4. Class A-5 interest due $214,711.88
5. Class A-5 interest paid $214,711.88
7. Class A Interest Carryover Shortfall $0.00
with respect to Class A-5
8. Class A-5 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class A-5 principal balance
1. Class A-5 principal balance - beginning $45,602,522.45
of period
2. Class A-5 principal - amount due $2,008,984.44
3. Class A-5 principal - amount paid $2,008,984.44
4. Class A-5 principal balance - end of $43,593,538.01
period
5. Class A-5 Principal Carryover Shortfall $0.00
6. Class A-5 unpaid principal with respect $0.00
to the Distribution Date
7. Class A-5 Notes as a percentage of the 12.084231%
Pool Balance on the Distribution Date
8. Total Class A Notes as a percentage of 60.087836%
the Pool Balance on the Distribution Date
(f) Class B-1
A. Information Regarding Distributions
1. Total distribution per $1,000 $22.48397
2. Principal distribution per $1,000 $20.08984
3. Interest distribution per $1,000 $2.39413
B. Calculation of Class B-1 Interest
1. Class B-1 related Note Rate 6.300000%
2. Class B-1 principal balance - beginning $45,284,659.90
of period
3. Accrual convention 30/360
4. Days in Interest Period 29
4. Class B-1 interest due $237,744.46
5. Class B-1 interest paid $237,744.46
6. Class B-1 Interest Carryover Shortfall $0.00
7. Class B-1 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class B-1 principal balance
1. Class B-1 principal balance - beginning $45,284,659.90
of period
2. Class B-1 principal - amount due $1,994,981.24
3. Class B-1 principal - amount paid $1,994,981.24
4. Class B-1 principal balance - end of $43,289,678.65
period
5. Class B-1 Principal Carryover Shortfall $0.00
6. Class B-1 unpaid principal with respect $0.00
to the Distribution Date
7. Class B-1 Notes as a percentage of the 12.000000%
Pool Balance on the Distribution Date
8. Class A and B-1 Notes as a percentage of 72.087836%
the Pool Balance on the Distribution Date
<PAGE>
<PAGE> 6
(g) Class B-2
A. Information Regarding Distributions
1. Total distribution per $1,000 $22.52194
2. Principal distribution per $1,000 $20.08981
3. Interest distribution per $1,000 $2.43213
B. Calculation of Class B-2 Interest
1. Class B-2 related Note Rate 6.400000%
2. Class B-2 principal balance - beginning $43,020,426.90
of period
3. Accrual convention 30/360
4. Days in Interest Period 29
4. Class B-2 interest due $229,442.28
5. Class B-2 interest paid $229,442.28
6. Class B-2 Interest Carryover Shortfall $0.00
7. Class B-2 unpaid interest with respect $0.00
to the Distribution Date
C. Calculation of Class B-2 principal balance
1. Class B-2 principal balance - beginning $43,020,426.90
of period
2. Class B-2 principal - amount due $1,895,232.18
3. Class B-2 principal - amount paid $1,895,232.18
4. Class B-2 principal balance - end of $41,125,194.72
period
5. Class B-2 Principal Carryover Shortfall $0.00
6. Class B-2 unpaid principal with respect $0.00
to the Distribution Date
7. Class B-2 Notes as a percentage of the 11.400000%
Pool Balance on the Distribution Date
8. Class A and B Notes as a percentage of 83.487836%
the Pool Balance on the Distribution Date
(h) Class C
A. Information Regarding Distributions
1. Total distribution per $1,000 $22.56001
2. Principal distribution per $1,000 $20.08987
3. Interest distribution per $1,000 $2.47014
B. Calculation of Class C Interest
1. Class C related Note Rate 6.500000%
2. Class C principal balance - beginning $27,736,854.19
of period
3. Accrual convention 30/360
4. Days in Interest Period 29
4. Class C interest due $150,241.29
5. Class C interest paid $150,241.29
6. Class C Interest Carryover Shortfall $0.00
7. Class C unpaid interest with respect to $0.00
the Distribution Date
C. Calculation of Class C principal balance
1. Class C principal balance - beginning of $27,736,854.19
period
2. Class C principal - amount due $1,221,926.01
3. Class C principal - amount paid $1,221,926.01
4. Class C principal balance - end of $26,514,928.18
period
5. Class C Principal Carryover Shortfall $0.00
6. Class C unpaid principal with respect to $0.00
the Distribution Date
7. Class C Notes as a percentage of the 7.350000%
Pool Balance on the Distribution Date
8. Class A, B and C Notes as a percentage 90.837836%
of the Pool Balance on the Distribution Date
</TABLE>
