<PAGE>
Exhibit 20
Volkswagen Credit Auto Master Owner Trust,
Series 2000-1
--------------------------------------------------------------------------------
Distribution Date Statement: December 20, 2000
<TABLE>
<S> <C>
a. Aggregate Amount of Collections $329,208,745.93
Aggregate Amount of Non-Principal Collections $5,017,406.78
Aggregate Amount of Principal Collections $324,191,339.15
Pool Balance $673,549,896.90
Residual Participation Amount $173,549,896.9
Excess Funding Account $0.00
b. Series Allocation Percentage 100.00%
Floating Allocation Percentage 74.23%
Principal Allocation Percentage N/A
c. Total Amount Distributed on Series 2000-1 $2,822,395.83
d. Amount of Such Distribution Allocable to Principal on 2000-1 $0.00
e. Amount of Such Distribution Allocable to Interest on 2000-1 $2,822,395.83
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 $561,291.58
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 $81,871,466.10
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
18-Dec-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 11/20/2000 12/19/2000 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 $690,900,420.07
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 $ 81,871,466.10
Excess Funding Account $0.00
Series 2000-1 Invested Amount at End of
Period (net of EFA) $500,000,000.00
Available Subordinated Amount (previous
period) $ 75,613,538.65
Incremental Subordinated Amount (previous
period) $ 27,668,333.17
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) 6.6187500%
Certificate Coupon (annualized) 6.7738%
Prime Rate (annualized) 9.5000000%
Servicing Fee Rate (annualized) 1.000%
Excess Spread 1.3662500%
TRUST PRINCIPAL RECEIVABLES
---------------------------
Pool Balance at the Beginning of Period $644,509,727.93
Pool Balance at the Ending of Period $673,549,896.90
Average Aggregate Principal Balance $659,029,812.42
Aggregate Principal Collections $324,191,339.15
New Principal Receivables $353,240,436.68
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 deposit amounts) $ 0.00
Non-Principal Collections & Inv. Proceeds
treated as Available Noteholder Principal
Collections $ 0.00
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. Accounts $ 0.00
MISCELLANEOUS DATA
------------------
Recoveries on Receivables Written Off $ 0.00
Spread Over/Under Prime for Portfolio -0.36%
Weighted Average Interest Rate 9.14%
Previously waived Monthly Servicing Fee $ 0.00
PORTFOLIO CHARGE OFF RATE AT COLLECTION PERIOD END
--------------------------------------------------
Net losses as a % of Avg. Receivables Balance (annualized) 0.00%
PORTFOLIO AND DEALERSHIP STATISTICS
-----------------------------------
Used Vehicle Receivables' Balance $ 30,014,454.49
Used Vehicle Percentage 4.456%
Used Vehicle Percentage During Last Collection Period 4.974%
Early Amortization Event? NO
Largest Dealer or Dealer Affiliation Balance $ 30,808,757.06
Largest Dealer Percentage 4.780%
Aggregate Principal Amount of Receivables of Dealers
over 2% $ 41,703,128.55
SUMMARY OF COLLECTIONS
----------------------
Aggregate Amount of Collections $329,208,745.93
Aggregate Amount of Non-principal Collections
(including insurance proceeds & rebates) $ 5,017,406.78
Investment Proceeds $ 18,709.38
Aggregate Amount of Principal Collections $324,191,339.15
Asset Receivables Rate 7.805%
Use Asset Receivables Rate? NO
Carryover Amount (this Distribution Date) N/A
PAYMENT RATE INFORMATION
------------------------
Monthly Payment Rate 49.19%
Previous Collection Period Monthly Payment Rate 55.99%
Monthly Payment Rate 2 collection periods ago 57.49%
3-month Average Payment Rate 54.23%
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 $ 2,822,395.83
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 Misc. Pmts) $ 0.00
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 $ 485,536.67
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
18-Dec-00
VOLKSWAGEN CREDIT AUTO MASTER OWNER TRUST, SERIES 2000-1
Summary
-------
Collections Accrual Distribution
----------- ------- ------------
From: 20-Nov-00
To: 19-Dec-00
Days: 30
LIBOR Rate 6.6187500%
(1 month)
Series # 1 Active
VCI Rating: N/A
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 $81,871,466.10 N/A $601,871,466.10
1 Series 2000-1 100.00% $500,000,000.00 $81,871,466.10 104.00% $601,871,466.10 $500,000,000.00
</TABLE>
<PAGE>
VW CREDIT, INC. -- SERVICER Page 3
18-Dec-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 9.140%
Invested Amount $500,000,000.00 LIBOR 6.619%
Controlled Accumulation Amount $ 0.00 Note Rate (LIBOR+15.5 b.p.) 6.774%
Required Subordinated Amount $ 81,871,466.10 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 1.366%
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%
</TABLE>
<TABLE>
<CAPTION>
SERIES 2000-1 MONTHLY REPORTING
-------------------------------
Required Excess
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 $81,871,466.10 $0.00
Floating Allocation Percentage 74.23% 74.23%
Principal Allocation Percentage N/A N/A
Principal Collections $324,191,339.15 $324,191,339.15 N/A N/A
New Principal Receivables $353,240,436.68 $353,240,436.68 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 $81,871,466.10 $0.00
Floating Allocation Percentage 74.23% 74.23%
Non-Principal Receivables
-------------------------
Non-Principal Collections $ 3,724,599.17
Recoveries on Receivables Written Off $ 0.00
Investment Proceeds $ 18,709.38
</TABLE>
<PAGE>
VW CREDIT, INC. -- SERVICER Page 4
18-Dec-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) $75,613,538.65 $82,284,009.53
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 $0.00 $0.00
as Available Noteholder Principal Collections ----- -----
(1) Subtotal $75,613,538.65 $82,284,009.53
(2) Subordination Percentage* Series 2000-1 $47,945,205.48 $47,945,205.48
Invested Amount
(a) lower of (1) or (2) $47,945,205.48 $47,945,205.48
(b) Incremental Subordinated Amount (previous $0.00 $0.00
period)
(c) Incremental Subordinated Amount $33,926,260.62 $27,668,333.17
(d) Payments from Excess Funding Account to $0.00 $0.00
Residual Interestholder
Available Subordinated Amount $81,871,466.10 $75,613,538.65
Overconcentration Amount $41,703,128.55 $32,544,330.54
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 $5,017,406.78 $4,982,753.55
Noteholder Non-Principal Collections $3,724,599.17 $3,865,537.89
Residual Interestholder Non-Principal $1,292,807.61 $1,117,215.66
Collections
Investment Proceeds $ 18,709.38 $ 19,273.70
Reserve Fund Balance $1,750,000.00 $1,750,000.00
------------- -------------
Total Non-Principal Available $6,786,116.16 $6,752,027.25
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 $ 561,291.58 $ 537,091.44
Noteholder Monthly Servicing Fee $ 416,666.67 $ 416,666.67
</TABLE>
