<PAGE>
Exhibit 20
Volkswagen Credit Auto Master Owner Trust,
Series 2000-1
--------------------------------------------------------------------------------
Distribution Date Statement: November 20,2000
a. Aggregate Amount of Collections $361,483,414.92
Aggregate Amount of Non-Principal Collections $ 4,982,753.55
Aggregate Amount of Principal Collections $356,500,661.37
Pool Balance $644,509,727.93
Residual Participation Amount $144,509,727.93
Excess Funding Account $ 0.00
b. Series Allocation Percentage 100.00%
Floating Allocation Percentage 77.58%
Principal Allocation Percentage N/A
c. Total Amount Distributed on Series 2000-1 $ 2,917,013.89
d. Amount of Such Distribution Allocable to Principal on 2000-1 $ 0.00
e. Amount of Such Distribution Allocable to Interest on 2000-1 $ 2,917,013.89
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 $ 537,091.44
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 $ 75,613,538.65
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
<PAGE>
VW CREDIT, INC. - SERVICER Page 1
15-Nov-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 10/20/2000 11/19/2000 31
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 $649,622,373.07
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 $ 75,613,538.65
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) $ 82,284,009.53
Incremental Subordinated Amount (previous period) $ 34,338,804.05
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) 6.6200000%
Certificate Coupon (annualized) 6.7750%
Prime Rate (annualized) 9.5000000%
Servicing Fee Rate (annualized) 1.000%
Excess Spread 2.0650000%
TRUST PRINCIPAL RECEIVABLES
---------------------------
Pool Balance at the Beginning of Period $628,833,720.91
Pool Balance at the Ending of Period $644,509,727.93
Average Aggregate Principal Balance $636,671,724.42
Aggregate Principal Collections $356,500,661.37
New Principal Receivables $372,158,776.96
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 $ 0.00
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. Accounts $ 0.00
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 COLLECTIION PERIOD END
---------------------------------------------------
Net losses as a % of Avg. Receivables Balance (annualized) 0.00%
<S> <C>
PORTFOLIO AND DEALERSHIP STATISTICS
-----------------------------------
Used Vehicle Receivables' Balance $ 32,057,922.48
Used Vehicle Percentage 4.974%
Used Vehicle Percentage During Last Collection Period 5.493%
Early Amortization Event? NO
Largest Dealer or Dealer Affiliation Balance $ 25,456,114.63
Largest Dealer Percentage 4.048%
Aggregate Principal Amount of Receivables of Dealers over 2% $32,544,330.54
SUMMARY OF COLLECTIONS
----------------------
Aggregate Amount of Collections $361,483,414.92
Aggregate Amount of Non-principal Collections (including insurance proceeds & rebates) 4,982,753.55
Investment Proceeds $ 19,273.70
Aggregate Amount of Principal Collections $356,500,661.37
Asset Receivables Rate 7.871%
Use Asset Receivables Rate? NO
Carryover Amount (this Distribution Date) N/A
PAYMENT RATE INFORMATION
------------------------
Monthly Payment Rate 55.99%
Previous Collection Period Monthly Payment Rate 57.49%
Monthly Payment Rate 2 collection periods ago 70.75%
3-month Average Payment Rate 61.41%
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 $ 2,917,013.89
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 $ 531,857.34
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
15-Nov-00
VOLKSWAGEN CREDIT AUTO MASTER OWNER TRUST, SERIES 2000-1
Summary
-------
Collections Accrual Distribution
-------------- ----------- ----------------
From: 20-Oct-00
To: 19-Nov-00
Days: 31
LIBOR Rate 6.6200000%
(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 $75,613,538.65 N/A $595,613,538.65
1 Series 2000-1 100.00% $500,000,000.00 $75,613,538.65 104.00% $595,613,538.65 $500,000,000.00
</TABLE>
<PAGE>
VW CREDIT,INC. -- SERVICER Page 3
15-Nov-00
VOLKSWAGEN CREDIT AUTO MASTER OWNER TRUST, SERIES 2000-1
SERVICING CERTIFICATE
---------------------
<TABLE>
<CAPTION>
INITIAL AMOUNTS EXCESS SPREAD CALCULATION
--------------- --------------------------
<S> <C> <C>
Initial Invested Amount $500,000,000.00 Weighted Average Rate Charged to Dealers 9.840%
Invested Amount $500,000,000.00 LIBOR 6.620%
Controlled Accumulation Amount $ 0.00 Note Rate (LIBOR+15.5 b.p.) 6.775%
Required Subordinated Amount $ 75,613,538.65 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 2.065%
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
-------------------------------
Required Excess
Series 2000-1 Invested Subordinated Funding
Principal Receivables Total Amount Amount Amount
--------------------- ----- ------ ------ -------
Series Allocation Percentage 100.00%
Beginning Balance $500,000,000.00 $500,000,000.00 $75,613,538.65 $ 0.00
Floating Allocation Percentage 77.58% 77.58%
Principal Allocation Percentage N/A N/A
Principal Collections $356,500,661.37 $356,500,661.37 N/A N/A
New Principal Receivables $372,158,776.96 $372,158,776.96 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 $75,613,538.65 $ 0.00
Floating Allocation Percentage 77.58% 77.58%
Non-Principal Receivables
-------------------------
Non-Principal Collections $ 3,865,537.89
Recoveries on Receivables Written Off $ 0.00
Investment Proceeds $ 19,273.70
</TABLE>
<PAGE>
VW CREDIT, INC. -- SERVICER Page 4
15-Nov-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) $82,284,009.53 $56,209,601.50
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 $82,284,009.53 $56,209,601.50
(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 $47,945,205.48
(b) Incremental Subordinated Amount (previous period) $ 0.00 $ 0.00
(c) Incremental Subordinated Amount $27,668,333.17 $34,338,804.05
(d) Payments from Excess Funding Account to Residual $ 0.00 $ 0.00
Interestholder
Available Subordinated Amount $75,613,538.65 $82,284,009.53
Overconcentration Amount $32,544,330.54 $39,407,951.21
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 $ 4,982,753.55 $ 4,934,514.29
Noteholder Non-Principal Collections $ 3,865,537.89 $ 3,923,544.59
Residual Interestholder Non-Principal Collections $ 1,117,215.66 $ 1,010,969.70
Investment Proceeds $ 19,273.70 $ 18,597.76
Reserve Fund Balance $ 1,750,000.00 $ 1,750,000.00
-------------- --------------
Total Non-Principal Available $ 6,752,027.25 $ 6,703,112.05
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 $ 537,091.44 $ 524,028.10
Noteholder Monthly Servicing Fee $ 416,666.67 $ 416,666.67
</TABLE>