<PAGE>
EXHIBIT 20
Volkswagen Credit Auto Master Owner Trust, Series
2000-1
--------------------------------------------------------------------------------
Distribution Date Statement: October 20,2000
<TABLE>
<CAPTION>
<S> <C> <C>
a. Aggregate Amount of Collections $367,317,942.84
Aggregate Amount of Non-Principal Collections $4,934,514.29
Aggregate Amount of Principal Collections $362,383,428.55
Pool Balance $628,833,720.91
Residual Participation Amount $128,833,720.91
Excess Funding Account $0.00
b. Series Allocation Percentage 100.00%
Floating Allocation Percentage 79.51%
Principal Allocation Percentage N/A
c. Total Amount Distributed on Series 2000-1 $2,824,479.17
d. Amount of Such Distribution Allocable to Principal on 2000-1 $0.00
e. Amount of Such Distribution Allocable to Interest on 2000-1 $2,824,479.17
f. Noteholder Default Amount $0.00
g. Required Subordinated Draw Amount $0.00
h. Noteholder Charge Offs $0.00
Amounts of Reimbursements $0.00
i. Monthly Servicing Fee $524,028.10
Noteholder Monthly Servicing Fee $416,666.67
j. Controlled Deposit Amount $0.00
k. Series 2000-1 Invested Amount at end of period (Gross) $500,000,000.00
Outstanding Principal Balance $500,000,000.00
l. Available Subordinated Amount $82,284,009.53
m. Carry-over Amount $0.00
n. Reserve Account Balance $1,750,000.00
o. Principal Funding Account Balance $0.00
Yield Supplement Account Balance $1,750,000.00
</TABLE>
<PAGE>
VW CREDIT, INC. -- SERVICER Page 1
19-Oct-00
VOLKSWAGEN CREDIT AUTO MASTER OWNER TRUST, SERIES 2000-1
Monthly Servicer Report Input and Summary Page
----------------------------------------------
<TABLE>
<CAPTION>
TRANSACTION SUMMARY
-------------------
From To Days
---- -- ----
<S> <C> <C> <C>
Current Interest Period 9/20/2000 10/19/2000 30
Series Allocation Percentage 100.00%
Initial Principal Balance $500,000,000.00
Outstanding Principal Balance $500,000,000.00
Principal Balance of Receivables for Determination Date $628,123,197.34
Amount Invested in Receivables on Series Issuance Date $500,000,000.00
Initial Invested Amount $500,000,000.00
Invested Amount at the Beginning of Period $500,000,000.00
Series 2000-1 Invested Amount at End of Period (Gross) $500,000,000.00
Required Subordinated Amount $82,284,009.53
Excess Funding Account $0.00
Series 2000-1 Invested Amount at End of Period (net $500,000,000.00
of EFA)
Available Subordinated Amount (previous period) $56,209,601.50
Incremental Subordinated Amount (previous period) $29,233,927.48
RESERVE ACCOUNT AND YIELD SUPPLEMENT ACCOUNT
--------------------------------------------
Yield Supplement Account Initial Deposit $1,750,000.00
Yield Supplement Account Beginning Balance $1,750,000.00
Yield Supplement Account Required Amount $1,750,000.00
Reserve Account Initial Deposit $1,750,000.00
Reserve Account Required Amount $1,750,000.00
Reserve Account Beginning Balance $1,750,000.00
Outstanding Carryover Amount - Beginning Balance $0.00
Withdrawal from Yield Supplement Account $0.00
Outstanding Carryover Amount - Ending Balance $0.00
Yield Supplement Account Balance - Ending Balance $1,750,000.00
Yield Supplement Account Deposit Amount $0.00
Withdrawal from Reserve Account $0.00
Reserve Account Ending Balance $1,750,000.00
Reserve Account Deposit Amount $0.00
1-month LIBOR Rate (annualized) 6.6237500%
Certificate Coupon (annualized) 6.7788%
Prime Rate (annualized) 9.5000000%
Servicing Fee Rate (annualized) 1.000%
Excess Spread 2.0612500%
TRUST PRINCIPAL RECEIVABLES
---------------------------
Pool Balance at the Beginning of Period $631,780,647.03
Pool Balance at the Ending of Period $628,833,720.91
Average Aggregate Principal Balance $630,307,183.97
Aggregate Principal Collections $362,383,428.55
New Principal Receivables $359,064,265.36
Receivables Added for Additional Accounts $0.00
Noteholder Default Amount $0.00
Net Losses $0.00
Noteholder Charge-offs $0.00
Miscellaneous Paymnets (Adjustments and Transfer $0.00
deposit amounts)
Non-Principal Collections & Inv. Proceeds treated as $0.00
Available Noteholder Principal Collections
Monthly Interest Accrued, but not paid $0.00
Ineligible Receivables $0.00
Excess Funding Account at Date of Determination $0.00
Defaulted Receivables in Ineligible and Overconc. $0.00
Accounts
MISCELLANEOUS DATA
Recoveries on Receivables Written Off $0.00
Spread Over Prime for Portfolio 0.34%
Weighted Average Interest Rate 9.84%
Previously waived Monthly Servicing Fee $0.00
<CAPTION>
PORTFOLIO CHARGE OFF RATE AT COLLECTION PERIOD END
--------------------------------------------------
<S> <C>
Net losses as a % of Avg. Receivables Balance (annualized) 0.00%
PORTFOLIO AND DEALERSHIP STATISTICS
-----------------------------------
Used Vehicle Receivables' Balance $34,544,311.85
Used Vehicle Percentage 5.493%
Used Vehicle Percentage During Last Collection Period 5.388%
Early Amortization Event? NO
Largest Dealer or Dealer Affiliation Balance $28,496,694.14
Largest Dealer Percentage 4.511%
Aggregate Principal Amount of Receivables of Dealers over 2% $39,407,951.21
SUMMARY OF COLLECTIONS
----------------------
Aggregate Amount of Collections $367,317,942.84
Aggregate Amount of Non-principal Collections
(including insurance $4,934,514.29
proceeds & rebates)
Investment Proceeds
$18,597.76
Aggregate Amount of Principal Collections $362,383,428.55
Asset Receivables Rate 8.184%
Use Asset Receivables Rate? NO
Carryover Amount (this Distribution Date) N/A
PAYMENT RATE INFORMATION
------------------------
Monthly Payment Rate 57.49%
Previous Collection Period Monthly Payment Rate 70.75%
Monthly Payment Rate 2 collection periods ago 53.41%
3-month Average Payment Rate 60.55%
Early Amortization Event? NO
ACCUMULATION PERIOD/EARLY AMORTIZATION PERIOD
---------------------------------------------
Extend Revolving Period? YES
Last Day of Revolving Period N/A
Invested Amount as of Last Day of Revolving Period N/A
Accumulation Period Length (months) N/A
First Accumulation Date TO BE DETERMINED
Expected Final Payment Date N/A
Required Participation Percentage 104.00%
Principal Funding Account Balance $0.00
Principal Payment Amount $0.00
Controlled Accumulation Amount $0.00
TOTAL AMOUNT DISTRIBUTED ON SERIES 2000-1
-----------------------------------------
Noteholders
1. Monthly Noteholder Interest Distribution $2,824,479.17
2. Noteholder Monthly Servicing Fee Distribution $416,666.67
3. Reserve Account Deposit Amount Distribution $0.00
4. Noteholder Default Amount Distribution $0.00
5A Unreimbursed Noteholder Charge-offs (net of Series Allocable $0.00
Misc. Pmts)
5B. Reinstate reductions in Series 2000-1 Available Subord. Amount $0.00
6. Outstanding Carryover Amount Distribution $0.00
7. Yield Supplement Account Deposit Amount Distribution $0.00
8. Previuosly waived Monthly Servicing Fee Distribution $0.00
-----
Excess Servicing $682,398.76
DEFICIENCY AMOUNT
-----------------
Deficiency Amount $0.00
Required Subordinated Draw Amount $0.00
EXCESS FUNDING ACCOUNT
----------------------
Withdrawals to purchase Receivables (Since Issuance Date) $0.00
Additions in connection with a reduction in Receivables $0.00
Transfers to Principal Funding Account $0.00
</TABLE>
<PAGE>
VW CREDIT, INC. -- SERVICER Page 2
19-Oct-00
VOLKSWAGEN CREDIT AUTO MASTER OWNER TRUST, SERIES 2000-1
--------------------------------------------------------
Summary
-------
<TABLE>
<CAPTION>
Collections Accrual Distribution
----------------- -------------------- --------------
<S> <C> <C> <C>
From: 20-Sep-00
To: 19-Oct-00
Days: 30
LIBOR Rate 6.6237500%
(1 month)
Series # 1 Active
VCI Rating: N/A
</TABLE>
TRUST AND SERIES ALLOCATIONS - BEGINNING OF PERIOD
--------------------------------------------------
<TABLE>
<CAPTION>
Series Required Required Outstanding
Series Series Allocation Invested Subordinated Participation Participation Note
Number Name Percentage Amount Amount Percentage Amount Balance
------ ---- ---------- ------ ------ ---------- ------ -------
<S> <C> <C> <C> <C> <C> <C> <C>
Trust $500,000,000.00 $82,284,009.53 N/A $602,284,009.53
1 Series 2000-1 100.00% $500,000,000.00 $82,284,009.53 104.00% $602,284,009.53 $500,000,000.00
</TABLE>
<PAGE>
VW CREDIT, INC. -- SERVICER Page 3
19-Oct-00
VOLKSWAGEN CREDIT AUTO MASTER OWNER TRUST, SERIES 2000-1
SERVICING CERTIFICATE
---------------------
<TABLE>
<CAPTION>
INITIAL AMOUNTS EXCESS SPREAD CALCULATION
--------------- -------------------------
<S> <C> <C> <C>
Initial Invested Amount $500,000,000.00 Weighted Average Rate Charged to Dealers 9.840%
Invested Amount $500,000,000.00 LIBOR 6.624%
Controlled Accumulation Amount $0.00 Note Rate (LIBOR+15.5 b.p.) 6.779%
Required Subordinated Amount $82,284,009.53 Servicing Fee Rate 1.000%
Annualized Servicing Fee Rate 1.00% Investor Net Losses 0.000%
First Controlled Accumulation Date TO BE DETERMINED Excess Spread 2.061%
Accumulation Period Length (months) N/A
Expected Final Payment Date N/A
Initial Settlement Date 10-Aug-00
Required Participation Percentage 104.00%
Subordinated Percentage 9.5890%
SERIES 2000-1 MONTHLY REPORTING
-------------------------------
<CAPTION>
Series 2000-1 Invested Subordinated Funding
Principal Receivables Total Amount Amount Amount
--------------------- ----- ------ ------ ------
<S> <C> <C> <C> <C>
Series Allocation Percentage 100.00%
Beginning Balance $500,000,000.00 $500,000,000.00 $82,284,009.53 $0.00
Floating Allocation Percentage 79.51% 79.51%
Principal Allocation Percentage N/A N/A
Principal Collections $362,383,428.55 $362,383,428.55 N/A N/A
New Principal Receivables $359,064,265.36 $359,064,265.36 N/A N/A
Principal Default Amounts $0.00 $0.00 N/A N/A
Receivables Added for Additional Accounts $0.00 $0.00 N/A N/A
Controlled Deposit Amount $0.00 N/A N/A N/A
"Pool Factor" 100.00000000%
Ending Balance $500,000,000.00 $500,000,000.00 $82,284,009.53 $0.00
Floating Allocation Percentage 79.51% 79.51%
Non-Principal Receivables
-------------------------
Non-Principal Collections $3,923,544.59
Recoveries on Receivables Written Off $0.00
Investment Proceeds $18,597.76
</TABLE>
<PAGE>
VW CREDIT, INC. -- SERVICER Page 4
19-Oct-00
VOLKSWAGEN CREDIT AUTO MASTER OWNER TRUST, SERIES 2000-1
SERVICING CERTIFICATE
---------------------
<TABLE>
<CAPTION>
Subordinated Amount & Reserve Fund Current Previous
---------------------------------- ------- --------
<S> <C> <C>
Available Subordination Amount (Previous) $56,209,601.50 $26,975,674.02
Required Subordination Draw Amount $0.00 $0.00
Reserve Account Funds to Noteholder Default Amount $0.00 $0.00
Non-principal Collections & Inv. Proceeds treated as $0.00 $0.00
----- -----
Available Noteholder Principal Collections
(1) Subtotal $56,209,601.50 $26,975,674.02
(2) Subordination Percentage* Series 2000-1 Invested $47,945,205.48 $47,945,205.48
Amount
(a) lower of (1) or (2) $47,945,205.48 $26,975,674.02
(b) Incremental Subordinated Amount (previous period) $0.00 $0.00
(c) Incremental Subordinated Amount $34,338,804.05 $29,233,927.48
(d) Payments from Excess Funding Account to Residual $0.00 $0.00
Interestholder
Available Subordinated Amount $82,284,009.53 $56,209,601.50
Overconcentration Amount $39,407,951.21 $33,706,709.06
Beginning Reserve Account Balance $1,750,000.00 $1,750,000.00
Reserve Account Required Amount $1,750,000.00 $1,750,000.00
Withdrawal from Reserve Account $0.00 $0.00
Reserve Account Deposit Amount $0.00 $0.00
Ending Reserve Account Balance $1,750,000.00 $1,750,000.00
Required Non-Principal Distributions
------------------------------------
Available Non-Principal Collections $4,934,514.29 $5,356,828.90
Noteholder Non-Principal Collections $3,923,544.59 $4,239,468.97
Residual Interestholder Non- Principal Collections $1,010,969.70 $1,117,359.93
Investment Proceeds $18,597.76 $11,145.40
Reserve Fund Balance $1,750,000.00 $1,750,000.00
------------- -------------
Total Non-Principal Available $6,703,112.05 $7,117,974.30
Interest Shortfall $0.00 $0.00
Additional Interest $0.00 $0.00
Carry-over Amount $0.00 $0.00
Carry-over Shortfall $0.00 $0.00
Additional Interest on Carry-over Shortfall $0.00 $0.00
Monthly Servicing Fee $524,028.10 $526,483.87
Noteholder Monthly Servicing Fee $416,666.67 $416,666.67
</TABLE>
