<PAGE>
===============================================================================
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: June 16, 1999
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
---------------------------------------------------------
(Originator of the Trust referred to herein)
(Exact name of the registrant as specified in its charter)
CHASE MANHATTAN AUTO OWNER TRUST 1996-C
---------------------------------------
(Issuer with respect to Certificates)
Delaware 333-7575 13-2633612
- ---------------------------- ------------------------ -------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
802 Delaware Avenue, Wilmington, Delaware 19801
----------------------------------------- ---------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5033
================================================================================
<PAGE>
Item 5. Other Events:
On 3/15/99, Chase Manhattan Auto Owner Trust 1996-C (the "Trust") made
the distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of December 1, 1996, (the "Sale and Servicing Agreement"),
between Chase Manhattan Bank USA, National Association, as Seller and Servicer,
and the Trust, as Issuer. A copy of the Certificateholder Report for such
Distribution Date delivered pursuant to section 5.8 of the Sale and Servicing
Agreement is being filed as Exhibit 20.1 to this Current Report on Form 8-K.
On 4/15/99, Chase Manhattan Auto Owner Trust 1996-C (the "Trust") made
the distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of December 1, 1996, (the "Sale and Servicing Agreement"),
between Chase Manhattan Bank USA, National Association, as Seller and Servicer,
and the Trust, as Issuer. A copy of the Certificateholder Report for such
Distribution Date delivered pursuant to section 5.8 of the Sale and Servicing
Agreement is being filed as Exhibit 20.2 to this Current Report on Form 8-K.
On 5/17/99, Chase Manhattan Auto Owner Trust 1996-C (the "Trust") made
the distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of December 1, 1996, (the "Sale and Servicing Agreement"),
between Chase Manhattan Bank USA, National Association, as Seller and Servicer,
and the Trust, as Issuer. A copy of the Certificateholder Report for such
Distribution Date delivered pursuant to section 5.8 of the Sale and Servicing
Agreement is being filed as Exhibit 20.3 to this Current Report on Form 8-K.
Item 7(c). Exhibits
Exhibits Description
-------- -----------
20.1 Monthly Certificateholder's statement with
respect to the March 15, 1999 distribution.
20.2 Monthly Certificateholder's statement with
respect to the April 15, 1999 distribution.
20.3 Monthly Certificateholder's statement with
respect to the May 17, 1999 distribution.
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit No. Description
- ---------- -----------
20.1 Certificateholder Report dated 3/15/1999 delivered pursuant
to Section 5.8 of the Sale and Servicing Agreement dated as
of December 1, 1996.
20.2 Certificateholder Report dated 4/15/1999 delivered pursuant
to Section 5.8 of the Sale and Servicing Agreement dated as
of December 1, 1996.
20.3 Certificateholder Report dated 5/17/1999 delivered pursuant
to Section 5.8 of the Sale and Servicing Agreement dated as
of December 1, 1996.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: June 23, 1999
By: THE CHASE MANHATTAN BANK,
USA, NATIONAL ASSOCIATION
as Servicer
By: /s/ Patricia Garvey
------------------------------
Name: Patricia Garvey
Title: Vice President
<PAGE>
Exhibit 20.1
- --------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
- --------------------------------------------------------------------------------
<TABLE>
<CAPTION>
PERIOD 27 PAGE # 1
DETERMINATION: 10-Mar-99 Beginning 2/1/99
DISTRIBUTION: 15-Mar-99 Ending 2/28/99
TIME: 4/13/99 10:44
CLASS A-1 5.489% MONEY MARKET ASSET BACKED NOTES
CLASS A-2 5.750% ASSET BACKED NOTES
CLASS A-3 5.950% ASSET BACKED NOTES
CLASS A-4 6.150% ASSET BACKED NOTES
CLASS B-1 6.250% ASSET BACKED CERTIFICATES
ORIG PRINCIPAL BEG PRINCIPAL PRINCIPAL INTEREST TOTAL END PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 Notes $225,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-2 Notes $239,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-3 Notes $324,000,000.00 $163,478,898.16 $17,788,814.46 $810,582.87 $18,599,397.33 $145,690,083.70
A-4 Notes $178,000,000.00 $178,000,000.00 $0.00 $912,250.00 $912,250.00 $178,000,000.00
- -----------------------------------------------------------------------------------------------------------------------------------
NOTES TOTALS $966,000,000.00 $341,478,898.16 $17,788,814.46 $1,722,832.87 $19,511,647.33 $323,690,083.70
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
B-1 $30,938,845.63 $18,157,468.80 $569,095.20 $94,570.15 $663,665.35 $17,588,373.60
- -----------------------------------------------------------------------------------------------------------------------------------
CERTIFICATE TOTALS $30,938,845.63 $18,157,468.80 $569,095.20 $94,570.15 $663,665.35 $17,588,373.60
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS $996,938,845.63 $359,636,366.96 $18,357,909.66 $1,817,403.02 $20,175,312.68 $341,278,457.30
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- -------------------------------------------------------------------------------
A-1 0.00000000 0.00000000 0.00000000
-----------------------------------------------------
A-2 0.00000000 0.00000000 0.00000000
-----------------------------------------------------
A-3 54.90374833 2.50179898 449.66075216
-----------------------------------------------------
A-4 0.00000000 5.12500000 1,000.00000000
- -------------------------------------------------------------------------------
Notes Totals 18.41492180 1.78347088 335.08290238
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
B-1 18.39419631 3.05667998 568.48835960
- -------------------------------------------------------------------------------
Certificate Totals 18.39419631 3.05667998 568.48835960
- -------------------------------------------------------------------------------
TOTALS 18.41427861 1.82298345 342.32637117
- -------------------------------------------------------------------------------
IF THERE ARE ANY QUESTIONS OR COMMENTS,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW
- --------------------------------------------------------------------------------
KIM COSTA
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3247
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
<PAGE>
- -------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
- -------------------------------------------------------------------------------
PERIOD 27 PAGE # 2
DETERMINATION: 10-Mar-99 Beginning 2/1/99
DISTRIBUTION: 15-Mar-99 Ending 2/28/99
TIME: 4/13/99 10:44
<TABLE>
<CAPTION>
per $1000
---------
<S> <C> <C> <C>
Section 5.8 (iii) Servicing Fee $299,696.97 .30061721
Section 5.8 (iv) Administration Fee $1,000.00 .00100307
Section 5.8 (vi) Pool Balance at the end of the Collection Period $341,278,457.30
Section 5.8 (vii) Repurchase Amounts for Repurchased Receivable
By Seller $0.00
By Servicer $151,773.55
TOTAL $151,773.55
Section 5.8 (viii) Realized Net Losses for Collection Period $271,404.13
Section 5.8 (ix) Reserve Account Balance after Disbursement $10,238,353.72
Section 5.8 (x) Specified Reserve Account Balance $10,238,353.72
Section 5.8 (xi) Total Distribution Amount $20,759,471.52
Servicing Fee $299,696.97
Administrative Fee $1,000.00
Noteholders' Distribution Amount $19,511,647.33
Certificateholders' Distribution Amount $663,665.35
Deposit to Reserve Account $283,461.87
</TABLE>
Section 5.8 (xii) Noteholders' Distributable Amount
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 $0.00 $0.00 $0.00 0.00000000 0.00000000 0.00000000
A-2 $0.00 $0.00 $0.00 0.00000000 0.00000000 0.00000000
A-3 $17,788,814.46 $810,582.87 $18,599,397.33 54.90374833 2.50179898 57.40554731
A-4 $0.00 $912,250.00 $912,250.00 0.00000000 5.12500000 5.12500000
-----------------------------------------------------------------------------------------------------------------------------------
Total $17,788,814.46 $1,722,832.87 $19,511,647.33 18.41492180 1.78347088 20.19839268
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiii) Certificateholders' Distributable Amount
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
B-1 $569,095.20 $94,570.15 $663,665.35 18.39419631 3.05667998 21.45087628
- ------------------------------------------------------------------------------------------------------------------------------------
Total $569,095.20 $94,570.15 $663,665.35 18.39419631 3.05667998 21.45087628
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiv) Reserve Account Transfer Amount $283,461.87
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- --------------------------------------------------------------------------------
<PAGE>
Exhibit 20.2
Chase Manhattan Auto Owner Trust 1996-C
Statement to Certificateholders
April 15, 1999
<TABLE>
<CAPTION>
DISTRIBUTION IN DOLLARS
ORIGINAL PRIOR REALIZED DEFERRED CURRENT
FACE PRINCIPAL PRINCIPAL
CLASS VALUE BALANCE INTEREST PRINCIPAL TOTAL LOSSES INTEREST BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1 225,000,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A2 239,000,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A3 324,000,000.00 145,690,083.70 722,380.00 19,373,126.41 20,095,506.41 0.00 0.00 126,316,957.29
A4 178,000,000.00 178,000,000.00 912,250.00 0.00 912,250.00 0.00 0.00 178,000,000.00
B1 30,938,845.63 17,588,373.60 91,606.11 619,780.10 711,386.21 0.00 0.00 16,968,593.50
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS 996,938,845.63 341,278,457.30 1,726,236.11 19,992,906.51 21,719,142.62 0.00 0.00 321,285,550.79
</TABLE>
<TABLE>
<CAPTION>
PASS-THROUGH
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE RATES
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL CLASS PASS-THRU
CLASS FACTOR INTEREST PRINCIPAL TOTAL FACTOR RATE
- ------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
A1 0.0000000 0.000000 0.000000 0.000000 0.0000000 A1 5.489000%
A2 0.0000000 0.000000 0.000000 0.000000 0.0000000 A2 5.750000%
A3 449.6607522 2.229568 59.793600 62.023168 389.8671521 A3 5.950000%
A4 1,000.0000000 5.125000 0.000000 5.125000 1,000.0000000 A4 6.150000%
B1 568.4883596 2.960877 20.032425 22.993302 548.4559347 B1 6.250000%
- ------------------------------------------------------------------------------------------------------------
TOTALS 342.3263712 1.731537 20.054296 21.785832 322.2720754
</TABLE>
IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
Kimberly Costa
The Chase Manhattan Bank - Structured Finance Services
450 W. 33rd Street, 14th Floor,
New York, New York 10001
Tel: (212) 946-3247
Email: [email protected]
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 1
<PAGE>
Chase Manhattan Auto Owner Trust 1996-C
April 15, 1999
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<S> <C> <C>
Due Period 28
Due Period Beginning Date 03/01/99
Due Period End Date 03/31/99
Determination Date 04/09/99
Section 5.8(iii) Servicing Fee 284,398.71
Section 5.8(iii) Servicing Fee per $1000 0.285272
Section 5.8(iv) Administration Fee 1,000.00
Section 5.8(iv) Administration Fee per $1000 0.001003
Section 5.8(vi) Pool Balance at the end of the Collection Period 321,285,550.79
Section 5.8(vii) Repurchase Amounts for Repurchased Receivable
By Seller 0.00
By Servicer 245,397.58
TOTAL 245,397.58
Section 5.8(viii) Realized Net Losses for Collection Period 223,785.96
Section 5.8(ix) Reserve Account Balance after Disbursement 9,638,566.52
Section 5.8(x) Specified Reserve Account Balance 9,638,566.52
Section 5.8(xi) Total Distribution Amount 22,581,722.12
Servicing Fee 284,398.71
Administration Fee 1,000.00
Noteholders Distribution Amount 21,007,756.41
Certficateholders Distribution Amount 711,386.21
Deposit to Reserve Account 577,180.78
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 2
<PAGE>
Chase Manhattan Auto Owner Trust 1996-C
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
I. Available Amount in the Collection Accont
A. Credits
1. Payments from Obligors Applied to Collection Period
a. Principal Payments 19,443,882.84
b. Other Interest Payments 2,794,328.92
c. Total 22,238,211.76
2. Proceeds from Repurchased Receivables
a. Principal Before Cutoff Date 0.00
b. Interest Before Cutoff Date 0.00
c. Principal Payments 234,703.01
d. Recovery of Advance 8,880.20
e. Other Interest Payments 1,814.37
f. Total 245,397.58
3. Reversal from Defaulted Contracts 0.00
4. Recovery of Defaulted Receivables 98,112.78
5. Advance Recoveries Before Cutoff Date
a. Principal -65.00
b. Interest 0.00
c. Total -65.00
6. Net Adjustments 0.00
7. Reserve Fund Transfer Amount 0.00
8. Overpayment From Obligors 0.00
9. Total Credits 22,581,657.12
B. Debits
1. Overpayments From Obligors 0.00
2. Advance Recovery Amount Before Cutoff Data to Seller
a. Principal -65.00
b. Interest. 0.00
c. Total -65.00
3. Reversal of Defaulted Contracts 0.00
4. Total Debits -65.00
C. Total Available Amount (Lines A-B) 22,581,722.12
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 3
<PAGE>
Chase Manhattan Auto Owner Trust 1996-C
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
II. Liquidation Proceeds on Defaulted Receivables for the Collection Period
A. Principal 314,320.66
B. Interest 14,374.07
C. Total 328,694.73
III. Disbursements from Collection Account
A. Available Distribution Amount
1. Available Distribution Amount 22,581,722.12
2. Reserve Account Transfer Amount 0.00
3. Total Distribution Amount 22,581,722.12
B. Monthly Servicing Fee 284,398.71
C. Monthly Administration Fee 1,000.00
D. Noteholders Interest Distributable Amount 1,634,630.00
E. Certificateholders Interest Distributable Amount 91,606.11
F. Noteholders Principal Distributable Amount 19,373,126.41
G. Certificateholders Principal Distributable Amount 619,780.10
H. Deposit to Reserve Account 577,180.78
IV. Monthly Disbursements
A. Pool Servicing Fee
a. Monthly Servicing Fee 284,398.71
b. Unpaid Monthly Servicing Fee 0.00
c. Total 284,398.71
B. Administrative Fee
a. Monthly Administration Fee 1,000.00
b. Unpaid Monthly Administration Fee 0.00
c. Total 1,000.00
C. Noteholders' Interest Distributable Amount
Class A-1 Monthly Interest 0.00
Class A-1 Carryover Shortfall 0.00
Class A-1 Total 0.00
Class A-2 Monthly Interest 0.00
Class A-2 Carryover Shortfall 0.00
Class A-2 Total 0.00
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 4
<PAGE>
Chase Manhattan Auto Owner Trust 1996-C
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
Class A-3 Monthly Interest 722,380.00
Class A-3 Carryover Shortfall 0.00
Class A-3 Total 722,380.00
Class A-4 Monthly Interest 912,250.00
Class A-4 Carryover Shortfall 0.00
Class A-4 Total 912,250.00
Total for Notes Monthly Interest 1,634,630.00
Total for Notes Carryover Shortfall 0.00
Total for Notes Total 1,634,630.00
D. Certificateholders' Interest Distributable Amount
Class B-1 Monthly Interest 91,606.11
Class B-1 Carryover Shortfall 0.00
Class B-1 Total 91,606.11
Total for Certificates Monthly Interest 91,606.11
Total for Certificates Carryover Shortfall 0.00
Total for Certificates Total 91,606.11
Class A-1 Monthly Principal 0.00
Class A-1 Carryover Shortfall 0.00
Class A-1 Total 0.00
Class A-2 Monthly Principal 0.00
Class A-2 Carryover Shortfall 0.00
Class A-2 Total 0.00
Class A-3 Monthly Principal 19,373,126.41
Class A-3 Carryover Shortfall 0.00
Class A-3 Total 19,373,126.41
Class A-4 Monthly Principal 0.00
Class A-4 Carryover Shortfall 0.00
Class A-4 Total 0.00
Total for Notes Monthly Principal 19,373,126.41
Total for Notes Carryover Shortfall 0.00
Total for Notes Total 19,373,126.41
F. Certificateholders' Principal Distributable Amout
Class B-1 Monthly Principal 619,780.10
Class B-1 Carryover Shortfall 0.00
Class B-1 Total 619,780.10
Total for Certificates Monthly Principal 619,780.10
Total for Certificates Carryover Shortfall 0.00
Total for Certificates Total 619,780.10
Total Disbursements 22,004,541.34
Payment Deficiency Amount
A. Scheduled Monthly Disbursements 22,004,541.34
B. Available Distribution Amount 22,581,722.12
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 5
<PAGE>
Chase Manhattan Auto Owner Trust 1996-C
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
C. Payment Deficiency Amount 0.00
Reserve Account Transfer Amount
A. Available Reserve Amount 10,238,353.72
B. Payment Deficiency Amount 0.00
C. Withdrawal for Write-Off 0.00
D. Reserve Account Withdrawal (MIN: Lines A and (B+C)) 0.00
VII. Pool Balance Reduction Allocation for Collection Period
A. Beginning Pool Balance 341,278,457.30
B. Pool Balance Reduction
1. Available Principal
a. Principal Payments 19,443,882.84
b. From Repurchased Receivables 234,703.01
c. Total 19,678,585.85
2. From Defaulted Receivables 314,320.66
3. Total Pool Balance Reduction 19,992,906.51
C. Ending Pool Balance 321,285,550.79
D. Allocations
1. Percentage Allocation
a. Notes 96.900000%
b. Certificates 3.100000%
2. Monthly Principal Allocation
a. Notes 19,373,126.41
b. Certificates 619,780.10
VIII. Delinquency and Defaults
Group 1
Delinquency Principal
Period Number Amount Balance
------ ------ ----------- ------------
30-59 days 630 443,643.96 6,436,741.14
60-89 days 120 127,121.03 1,226,114.48
90-119 days 56 89,533.80 644,000.69
120+149 days 44 75,881.14 456,961.36
150+179 days 27 57,302.79 253,663.14
180+209 days 18 52,568.77 237,926.09
210+239 days 9 34,976.94 135,926.91
240+Days
Delinquent 0 0.00 0.00
Total 904 881,028.43 9,391,333.81
B. Principal amount of loans in defaulted receivables 314,320.66
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 6
<PAGE>
Chase Manhattan Auto Owner Trust 1996-C
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
C. Delinquency Percentage
1. Outstanding principal balance for deliquency >= 60 days 2,954,592.67
2. Pool Principal Ending Balance 321,285,550.79
3. Delinquency Percentage 0.919616%
IX. Pool Delinquency Percentages
A. Delinquency Percentage for 2nd previous period 1.201092%
B. Delinquency Percentage for previous period 1.113774%
C. Delinquency Percentage for current period 0.919616%
D. Average Deliquency Percentage 1.078161%
X. Portfolio Loss Ratios
A. Net Loss Ratio for 2nd previous period 0.834466%
B. Net Loss Ratio for previous period 0.929314%
1. Principal Balance of Defaulted Receivables 314,320.66
2. Principal Recoveries on Defaulted Receivables 90,534.70
3. Average Pool Balance for Collection Period 331,282,004.05
4. Net Loss Ratio for Current Period(12*(1-2)/3) 0.810618%
D. Average Net Loss Ratio ((A+B+C)/3) 0.858133%
XI. Specified Reserve Account Balance
A. Calculation for Reserve Account Floor Amount
1. Guaranteed Floor Amount 7,477,041.34
2. Possible Floor Amount
a. Principal Balance at the Beginning of Next Collection Period 321,285,550.79
b. Cumulative Monthly Interest through Final Distribution Data
Class A-1 Balance 0.00
Class A-1 Interest Rate 5.49
Class A-1 Service Rate 0.01
Class A-1 Term 0.00
Class A-1 Interest 0.00
Class A-1 Service Fee 0.00
Class A-1 Total 0.00
Class A-2 Balance 0.00
Class A-2 Interest Rate 5.75
Class A-2 Service Rate 0.01
Class A-2 Term 1.00
Class A-2 Interest 0.00
Class A-2 Service Fee 0.00
Class A-2 Total 0.00
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 7
<PAGE>
Chase Manhattan Auto Owner Trust 1996-C
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
Class A-3 Balance 126,316,957.29
Class A-3 Interest Rate 5.95
Class A-3 Service Rate 0.01
Class A-3 Term 19.00
Class A-3 Interest 11,900,110.02
Class A-3 Service Fee 2,000,018.49
Class A-3 Total 13,900,128.51
Class A-4 Balance 178,000,000.00
Class A-4 Interest Rate 6.15
Class A-4 Service Rate 0.01
Class A-4 Term 35.00
Class A-4 Interest 31,928,750.00
Class A-4 Service Fee 5,191,666.67
Class A-4 Total 37,120,416.67
Class B-1 Balance 16,968,593.50
Class B-1 Interest Rate 6.25
Class B-1 Service Rate 0.01
Class B-1 Term 50.00
Class B-1 Interest 4,418,904.56
Class B-1 Service Fee 707,024.73
Class B-1 Total 5,125,929.29
c. Possible Floor Amount equals Pool Balance + Interest + Service Fee
(Lines a+b) 377,432,025.25
3. Reserve Account Floor (Minimum Lines 1 and 2) 7,477,041.34
B. Possible Reserve Account Amount
1. Reserve Account Trigger Percentages
a. Average Delinquency Percentage 1.078161%
b. Average Delinquency Percentage Trigger 1.250000%
c. Average Loss Ratio 0.858133%
d. Average Loss Ratio Trigger 1.250000%
e. Maximum Reserve Account Percentage Specified 6.000000%
f. Minimum Reserve Account Percentage specified 3.000000%
g. Reserve Account Percentage Applied 3.000000
2. Pool Principal Balance 321,285,550.79
3. Possible Reserve Account Amount 9,638,566.52
C. Specified Reserve Account Balance (Max: Lines A and B) 9,638,566.52
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 8
<PAGE>
Chase Manhattan Auto Owner Trust 1996-C
April 15, 1999
MONTHLY SERVICER REPORT
<TABLE>
<S> <C> <C>
XII. Reserve Account
A. Reserve Account Balance After Disbursement from Previous Period
1. Reserve Account Balance After Disbursement from Previous Period 10,238,353.72
2. Reserve Account Transfer Amount 0.00
3. Investment Earnings 42,979.28
4. Deposit to Reserve Account After Disbursement 577,180.78
5. Amount After Deposit 10,858,513.78
B. Specified Reserve Account Balance 9,638,566.52
C. Available Reserve Account Amount (Min: Lines A and B) 9,638,566.52
1. Excess in Reserve Acct: Max(LinesA.5 - B and 0) 1,219,947.26
D. Excess Amount to Seller 99% Lines A-B) 1,207,729.76
E. Excess Amount to General Partner (1% Lines A-B) 12,217.50
F. Ending Reserve Account Balance 9,638,566.52
XIII. Weighted Average Coupon as of Current Period 9.435021
XIV. Weighted Average Maturity as of Current Period 29.255069
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 9
<PAGE>
Exhibit 20.3
- --------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
- --------------------------------------------------------------------------------
PERIOD 29 PAGE # 1
DETERMINATION: 10-May-99 Beginning 4/1/99
DISTRIBUTION: 17-May-99 Ending 4/30/99
TIME: 6/8/99 17:19
CLASS A-1 5.489% MONEY MARKET ASSET BACKED NOTES
CLASS A-2 5.750% ASSET BACKED NOTES
CLASS A-3 5.950% ASSET BACKED NOTES
CLASS A-4 6.150% ASSET BACKED NOTES
CLASS B-1 6.250% ASSET BACKED CERTIFICATES
<TABLE>
<CAPTION>
ORIG PRINCIPAL BEG PRINCIPAL PRINCIPAL INTEREST TOTAL END PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 Notes $225,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-2 Notes $239,000,000.00 $0.00 $0.00 $0.00 $0.00 $0.00
A-3 Notes $324,000,000.00 $126,316,957.29 $18,334,531.15 $626,321.58 $18,960,852.73 $107,982,426.14
A-4 Notes $178,000,000.00 $178,000,000.00 $0.00 $912,250.00 $912,250.00 $178,000,000.00
- -----------------------------------------------------------------------------------------------------------------------------------
NOTES TOTALS $966,000,000.00 $304,316,957.29 $18,334,531.15 $1,538,571.58 $19,873,102.73 $285,982,426.14
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
B-1 $30,938,845.63 $16,968,593.50 $586,553.63 $88,378.09 $674,931.72 $16,382,039.87
- -----------------------------------------------------------------------------------------------------------------------------------
TOTALS $996,938,845.63 $321,285,550.79 $18,921,084.78 $1,626,949.67 $20,548,034.45 $302,364,466.01
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- --------------------------------------------------------------------------------
A-1 0.00000000 0.00000000 0.00000000
-----------------------------------------------------------------
A-2 0.00000000 0.00000000 0.00000000
-----------------------------------------------------------------
A-3 56.58805910 1.93309130 333.27909302
-----------------------------------------------------------------
A-4 0.00000000 5.12500000 1,000.00000000
- --------------------------------------------------------------------------------
Notes Totals 18.97984591 1.59272420 296.04806019
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
B-1 18.95848465 2.85654129 529.49745010
- --------------------------------------------------------------------------------
Certificate Totals 18.95848465 2.85654129 529.49745010
- --------------------------------------------------------------------------------
TOTALS 18.97918299 1.63194531 303.29289237
- --------------------------------------------------------------------------------
IF THERE ARE ANY QUESTIONS OR COMMENTS,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW
- --------------------------------------------------------------------------------
KIM COSTA
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 15TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3247
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
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<PAGE>
- -------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
- -------------------------------------------------------------------------------
PERIOD 29 PAGE # 2
DETERMINATION: 10-May-99 Beginning 4/1/99
DISTRIBUTION: 17-May-99 Ending 4/30/99
TIME: 6/8/99 17:19
<TABLE>
<CAPTION>
per $1000
---------
<S> <C> <C> <C>
Section 5.8 (iii) Service $267,737.96 .26856006
Section 5.8 (iv) Administration Fee $1,000.00 .00100307
Section 5.8 (vi) Pool Balance at the end of the Collection Period $302,364,466.01
Section 5.8 (vii) Repurchase Amounts for Repurchased Receivable
By Seller $0.00
By Servicer $73,019.91
TOTAL $73,019.91
Section 5.8 (viii) Realized Net Losses for Collection Period $374,887.77
Section 5.8 (ix) Reserve Account Balance after Disbursement $9,070,933.98
Section 5.8 (x) Specified Reserve Account Balance $9,070,933.98
Section 5.8 (xi) Total Distribution Amount $21,099,290.58
Servicing Fee $267,737.96
Administrative Fee $1,000.00
Noteholders' Distribution Amount $19,873,102.73
Certificateholders' Distribution Amount $674,931.72
Deposit to Reserve Account $282,518.17
Section 5.8 (xii) Noteholders' Distributable Amount
</TABLE>
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 $0.00 $0.00 $0.00 0.00000000 0.00000000 0.00000000
A-2 $0.00 $0.00 $0.00 0.00000000 0.00000000 0.00000000
A-3 $18,334,531.15 $626,321.58 $18,960,852.73 56.58805910 1.93309130 58.52115040
A-4 $0.00 $912,250.00 $912,250.00 0.00000000 5.12500000 5.12500000
----------------------------------------------------------------------------------------------------------------------------------
Total $18,334,531.15 $1,538,571.58 $19,873,102.73 18.97984591 1.59272420 20.57257011
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiii) Certificateholders' Distributable Amount
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
B-1 $586,553.63 $88,378.09 $674,931.72 18.95848465 2.85654129 21.81502594
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
Total $586,553.63 $88,378.09 $674,931.72 18.95848465 2.85654129 21.81502594
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Section 5.8 (xiv) Reserve Account Transfer Amount $282,518.17
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
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