UNITED STATES 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 (Date of earliest event reported) September 15, 1995
NAVISTAR FINANCIAL RETAIL RECEIVABLES CORPORATION on behalf of
NAVISTAR FINANCIAL 1993-A OWNER TRUST, NAVISTAR FINANCIAL
1994-A OWNER TRUST, NAVISTAR FINANCIAL 1994-B OWNER TRUST,
NAVISTAR FINANCIAL 1994-C OWNER TRUST AND
NAVISTAR FINANCIAL 1995-A OWNER TRUST
(Exact name of Registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
1-4146-1 51-0337491
(Commission File Number) (I.R.S. Employer Identification No.)
2850 West Golf Road Rolling Meadows, Illinois 60008
(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code 708-734-4275
<PAGE>
FORM 8-K
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
On September 15 and 20, 1995, Registrant made available the
Monthly Servicer Certificates for the Period of August 1995
for the specified Owner Trusts, which are attached as
Exhibit 20 hereto.
Item 7. Financial Statements and Exhibits.
(c) Exhibits:
See attached Exhibit Index.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly
authorized.
NAVISTAR FINANCIAL RETAIL RECEIVABLES CORPORATION
on behalf of NAVISTAR FINANCIAL 1993-A OWNER TRUST,
NAVISTAR FINANCIAL 1994-A OWNER TRUST,
NAVISTAR FINANCIAL 1994-B OWNER TRUST,
NAVISTAR FINANCIAL 1994-C OWNER TRUST AND
NAVISTAR FINANCIAL 1995-A OWNER TRUST
(Registrant)
Date September 27, 1995 By:/s/ PHYLLIS E. COCHRAN
Phyllis E. Cochran
Vice President & Controller
<PAGE>
FORM 8-K
EXHIBIT INDEX
Exhibit No. Description
Navistar Financial 1993-A Owner Trust
20.1 Monthly Servicer Certificate, dated September 15, 1995
Navistar Financial 1994-A Owner Trust
20.2 Monthly Servicer Certificate, dated September 15, 1995
Navistar Financial 1994-B Owner Trust
20.3 Monthly Servicer Certificate, dated September 15, 1995
Navistar Financial 1994-C Owner Trust
20.4 Monthly Servicer Certificate, dated September 20, 1995
Navistar Financial 1995-A Owner Trust
20.5 Monthly Servicer Certificate, dated September 20, 1995
<PAGE>
Exhibit 20.1
Page 1 of 3
Navistar Financial 1993-A Owner Trust
For the Month of August 1995
Distribution Date of September 15, 1995
<TABLE>
<S> <C>
Original Pool Amount $335,002,547.77
Beginning Pool Balance $103,136,026.25
Beginning Pool Factor 0.3078664
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $6,762,693.47
Interest Collected $767,798.71
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $100,440.75
Total Additional Deposits $100,440.75
Repos/Chargeoffs $110,306.34
Aggregate Number of Notes Charged Off 21
Total Available Funds $7,399,333.28
Ending Pool Balance $96,494,626.09
Ending Pool Factor 0.2880415
Servicing Fee $85,946.69
Repayment of Servicer Advances $231,599.65
Reserve Account:
Beginning Balance $7,772,378.88
Target Percentage 7.50%
Target Balance $7,237,096.96
Minimum Balance $6,700,050.96
(Release)/Deposit $(535,281.92)
Ending Balance $7,237,096.96
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 771,392.48 567
31-60 days 98,101.08 102
60+ days 37,574.25 26
Total 907,067.81 584
Balances:
60+ days 218,174.90 26
Memo Item - Reserve Account
Prior Month $7,735,201.97
Invest. Income 37,176.91
Beginning Balance $7,772,378.88
</TABLE>
<PAGE>
Exhibit 20.1
Page 2 of 3
Navistar Financial 1993-A Owner Trust
For the Month of August 1995
<TABLE>
<CAPTION>
NOTES
CLASS A-1
TOTAL (MONEY MARKET) CLASS A-2 CERTIFICATES
<S> <C> <C> <C> <C>
Original
Pool Amount Dist.: $335,002,547.77$127,300,000.00$195,976,000.00 $11,726,547.77
Distribution Percentages 100.00% 95.50% 4.50%
Turbo Percentages 100.00% 0.00% 0.00%
Coupon 3.475% 4.475% 4.800%
Beginning Pool Balance $103,136,026.25
Ending Pool Balance $96,494,626.09
Collected Principal $6,531,093.82
Collected Interest $767,798.71
Liquidation Proceeds/Recoveries $100,440.75
Charge-Offs $110,306.34
Servicing $85,946.69
Total Collections Available
for Debt Service $7,313,386.59
Beginning Balance $91,885,688.51 $0.00 $85,370,899.41 $6,514,789.10
Interest Due $344,421.47 $0.00 $318,362.31 $26,059.16
Interest Paid $344,421.47 $0.00 $318,362.31 $26,059.16
Principal Due $6,641,400.16 $0.00 $6,342,537.15 $298,863.01
Principal Paid $6,641,400.16 $0.00 $6,342,537.15 $298,863.01
Turbo Principal $0.00 $0.00 $0.00 $0.00
Ending Balance $85,244,288.35 $0.00 $79,028,362.25 $6,215,926.10
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.00 0.4032553081 0.5300729778
Total Distributions $6,985,821.63 $0.00 $6,660,899.46 $324,922.17
Interest Shortfall $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00
Total Shortfall (required from Reserve) $0.00 $0.00 $0.00 $0.00
Excess Servicing $327,564.96
Beginning Reserve Account Balance $7,772,378.88
(Release)/Draw $(535,281.92)
Ending Reserve Account Balance $7,237,096.96
Memo Item - Advances:
Servicer Advances - Current Month $(231,599.65)
Total Outstanding Servicer Advances$2,565,927.69
</TABLE>
<PAGE>
Exhibit 20.1
Page 3 of 3
Navistar Financial 1993-A Owner Trust
For the Month of August 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Apr 1995 May 1995 June 1995 July 1995 Aug. 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $133,656,652.98$126,201,758.79$118,134,927.19$110,086,049.11$103,136,026.25
A) Loss Trigger:
Principal of Contracts
Charged off $179,609.57 $156,415.59 $49,805.68 $5,448.60 $110,306.34
Recoveries $84,665.15 $167,464.36 $80,034.02 $92,283.81 $100,440.75
Total Charged off
(Months 5,4,3) $385,830.84
Total Recoveries
(Months 3,2,1) 272,758.58
Net Loss/(Recoveries)
for 3 Mos. $113,072.26(a)
Total Balance
(Months 5,4,3) $377,993,338.96(b)
Loss Ratio [(a/b)(12)] 0.3590%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $226,609.50 $241,366.37 $218,174.90
As % of Beginning
Pool Balance 0.19182% 0.21925% 0.21154%
Three Month Average 0.28340% 0.25991% 0.20754%
Trigger:
Is Average> 2.0% No
</TABLE>
Navistar Financial Corporation
by: /s/R. W. CAIN
R. W. CAIN
Vice President and Treasurer
<PAGE>
Exhibit 20.2
Page 1 of 3
Navistar Financial 1994-A Owner Trust
For the Month of August 1995
Distribution Date of September 15, 1995
<TABLE>
<S> <C>
Original Pool Amount $280,021,471.35
Beginning Pool Balance $153,316,237.82
Beginning Pool Factor 0.5475160
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $5,949,219.65
Interest Collected $1,092,982.42
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $95,841.65
Total Additional Deposits $95,841.65
Repos/Chargeoffs $153,645.61
Aggregate Number of Notes Charged Off 21
Total Available Funds $7,097,549.68
Ending Pool Balance $147,253,866.60
Ending Pool Factor 0.5258663
Servicing Fee $127,763.53
Repayment of Servicer Advances $40,494.04
Reserve Account:
Beginning Balance $10,013,450.47
Target Percentage 6.50%
Target Balance $9,571,501.33
Minimum Balance $5,600,429.43
(Release)/Deposit $(441,949.14)
Ending Balance $9,571,501.33
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 943,708.11 786
31-60 days 122,756.28 130
60+ days 48,339.89 44
Total 1,114,804.28 804
Balances:
60+ days 917,978.42 44
Memo Item - Reserve Account
Prior Month $9,965,555.46
+ Invest. Income 47,895.01
- Withdrawal 0.00
Beginning Balance $10,013,450.47
</TABLE>
<PAGE>
Exhibit 20.2
Page 2 of 3
Navistar Financial 1994-A Owner Trust
For the Month of August 1995
<TABLE>
<CAPTION>
NOTES
CLASS A-1
TOTAL (MONEY MARKET) CLASS A-2 CERTIFICATES
<S> <C> <C> <C> <C>
Original
Pool Amount Dist.: $280,021,471.35 $89,606,000.00$180,614,000.00 $9,801,471.35
Distribution Percentages 100.00% 95.50% 4.50%
Turbo Percentages 100.00% 0.00% 0.00%
Coupon 4.531% 5.930% 6.260%
Beginning Pool Balance $153,316,237.82
Ending Pool Balance $147,253,866.60
Collected Principal $5,908,725.61
Collected Interest $1,092,982.42
Charge-Offs $153,645.61
Servicing $95,841.65
Liquidation Proceeds/Recoveries $127,763.53
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $6,969,786.15
Beginning Balance $147,500,962.09 $0.00$139,630,643.66 $7,870,318.43
Interest Due $731,064.93 $0.00 $690,008.10 $41,056.83
Interest Paid $731,064.93 $0.00 $690,008.10 $41,056.83
Principal Due $6,062,371.22 $0.00 $5,789,564.52 $272,806.70
Principal Paid $6,062,371.22 $0.00 $5,789,564.52 $272,806.70
Turbo Principal $0.00 $0.00 $0.00 $0.00
Ending Balance $141,438,590.87 $0.00$133,841,079.14 $7,597,511.73
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.00 0.7410338022 0.7751399210
Total Distributions $6,793,436.15 $0.00 $6,479,572.62 $313,863.53
Interest Shortfall $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00
Total Shortfall (required from Reserve) $0.00 $0.00 $0.00 $0.00
Excess Servicing $176,350.00
Beginning Reserve Account Balance$10,013,450.47
(Release)/Draw $(441,949.14)
Ending Reserve Account Balance $9,571,501.33
Memo Item - Advances:
Servicer Advances - Current Month $(40,494.04)
Total Outstanding Servicer Advances$2,571,135.73
</TABLE>
<PAGE>
Exhibit 20.2
Page 3 of 3
Navistar Financial 1994-A Owner Trust
For the Month of August 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Apr 1995 May 1995 June 1995 July 1995 Aug 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $183,607,976.18$175,626,121.20$168,810,661.60$160,120,763.05$153,316,237.82
A) Loss Trigger:
Principal of Contracts
Charged off $256,743.69 $131,502.23 $82,845.14 $25,779.12 $153,645.61
Recoveries $62,308.63 $264,905.32 $163,176.89 $146,959.92 $95,841.65
Total Charged off
(Months 5,4,3) $471,091.06
Total Recoveries
(Months 3,2,1) 405,978.46
Net Loss/(Recoveries)
for 3 Mos. $65,112.60(a)
Total Balance
(Months 5,4,3) $528,044,758.98(b)
Loss Ratio [(a/b)(12)] 0.1480%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $263,018.86 $282,668.21 $917,978.42
As % of Beginning
Pool Balance 0.15581% 0.17653% 0.59875%
Three Month Average 0.17874% 0.18197% 0.31036%
Trigger:
Is Average> 2.0% No
</TABLE>
Navistar Financial Corporation
by: /s/R. W. CAIN
R. W. CAIN
Vice President and Treasurer
<PAGE>
Exhibit 20.3
Page 1 of 3
Navistar Financial 1994-B Owner Trust
For the Month of August 1995
Distribution Date of September 15, 1995
<TABLE>
<S> <C>
Original Pool Amount $215,029,773.64
Beginning Pool Balance $143,039,156.10
Beginning Pool Factor 0.6652063
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $4,594,651.84
Interest Collected $1,084,349.03
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $258,269.40
Total Additional Deposits $258,269.40
Repos/Chargeoffs $73,921.19
Aggregate Number of Notes Charged Off 17
Total Available Funds $5,845,339.04
Ending Pool Balance $138,462,514.30
Ending Pool Factor 0.6439225
Servicing Fee $119,199.30
Repayment of Servicer Advances $91,931.23
Reserve Account:
Beginning Balance $9,342,229.54
Target Percentage 6.50%
Target Balance $9,000,063.43
Minimum Balance $4,300,595.47
(Release)/Deposit $(342,166.11)
Ending Balance $9,000,063.43
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 794,149.29 672
31-60 days 105,894.52 97
60+ days 27,187.12 19
Total 927,230.93 683
Balances:
60+ days 719,013.35 19
Memo Item - Reserve Account
Prior Month $9,297,545.15
+ Invest. Income 44,684.39
- Transfer to Collect1ion Account 0.00
Beginning Balance $9,342,229.54
</TABLE>
<PAGE>
Exhibit 20.3
Page 2 of 3
Navistar Financial 1994-B Owner Trust
For the Month of August 1995
<TABLE>
<CAPTION>
TOTAL NOTES CERTIFICATES
<S> <C> <C> <C>
Original
Pool Amount Dist.: $215,029,773.64$207,503,000.00 $7,526,773.64
Distribution Percentages 96.50% 3.50%
Coupon 6.400% 6.625%
Beginning Pool Balance $143,039,156.10
Ending Pool Balance $138,462,514.30
Collected Principal $4,502,720.61
Collected Interest $1,084,349.03
Charge-Offs $73,921.19
Liquidation Proceeds/Recoveries $258,269.40
Servicing $119,199.30
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $5,726,139.74
Beginning Balance $142,635,431.21$137,642,459.55 $4,992,971.66
Interest Due $761,658.48 $734,093.12 $27,565.36
Interest Paid $761,658.48 $734,093.12 $27,565.36
Principal Due $4,576,641.80 $4,416,459.34 $160,182.46
Principal Paid $4,576,641.80 $4,416,459.34 $160,182.46
Ending Balance $138,058,789.41$133,226,000.21 $4,832,789.20
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.6420437305 0.6420797845
Total Distributions $5,338,300.28 $5,150,552.46 $187,747.82
Interest Shortfall $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00
Total Shortfall (required from Reserve) $0.00 $0.00 $0.00
Excess Servicing $387,839.46
Beginning Reserve Account Balance $9,342,229.54
(Release)/Draw $(342,166.11)
Ending Reserve Account Balance $9,000,063.43
Memo Item - Advances:
Servicer Advances - Current Month $(91,931.23)
Total Outstanding Servicer Advances$1,664,919.18
</TABLE>
<PAGE>
Exhibit 20.3
Page 3 of 3
Navistar Financial 1994-B Owner Trust
For the Month of August 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Apr 1995 May 1995 June 1995 July 1995 Aug. 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $165,999,038.63$160,122,398.57$154,739,207.61$148,854,565.73$143,039,156.10
A) Loss Trigger:
Principal of Contracts
Charged off $671,427.43 $171,522.06 $171,487.42 $252,456.52 $73,921.19
Recoveries $339,848.82 $572,354.58 $201,635.18 $178,066.34 $258,269.40
Total Charged off
(Months 5,4,3) $1,014,436.91
Total Recoveries
(Months 3,2,1) 637,970.92
Net Loss/(Recoveries)
for 3 Mos. $376,465.99(a)
Total Balance
(Months 5,4,3) $480,860,644.81(b)
Loss Ratio [(a/b)(12)] 0.9395%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $529,229.89 $384,038.37 $719,013.35
As % of Beginning
Pool Balance 0.34201% 0.25800% 0.50267%
Three Month Average 0.27048% 0.27595% 0.36756%
Trigger:
Is Average> 2.0% No
</TABLE>
Navistar Financial Corporation
by: /s/R. W. CAIN
R. W. CAIN
Vice President and Treasurer
<PAGE>
Exhibit 20.4
Page 1 of 3
Navistar Financial 1994-C Owner Trust
For the Month of August 1995
Distribution Date of September 20, 1995
<TABLE>
<S> <C>
Original Pool Amount $315,029,921.60
Beginning Pool Balance $243,903,815.09
Beginning Pool Factor 0.7742243
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $8,450,361.26
Interest Collected $2,001,548.62
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $247,007.92
Total Additional Deposits $247,007.92
Repos/Chargeoffs $134,617.10
Aggregate Number of Notes Charged Off 15
Total Available Funds $9,957,696.29
Ending Pool Balance $236,060,058.24
Ending Pool Factor 0.7493258
Servicing Fee $203,253.18
Repayment of Servicer Advances $741,221.51
Reserve Account:
Beginning Balance $14,701,971.27
Target Percentage 6.00%
Target Balance $14,163,603.49
Minimum Balance $6,615,628.35
(Release)/Deposit $(538,367.78)
Ending Balance $14,163,603.49
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 1,175,516.91 924
31-60 days 163,771.34 147
60+ days 34,736.86 23
Total 1,374,025.11 929
Balances:
60+ days 621,757.60 23
Memo Item - Reserve Account
Prior Month $14,634,228.91
+ Invest. Income 67,742.36
- Transfer to Collections Account 0.00
Beginning Balance $14,701,971.27
</TABLE>
Exhibit 20.4
Page 2 of 3
Navistar Financial 1994-C Owner Trust
For the Month of August 1995
<TABLE>
<CAPTION>
NOTES
TOTAL CLASS A-1 CLASS A-2 CERTIFICATES
<S> <C> <C> <C> <C>
Original
Pool Amount Dist.: $315,029,921.60$207,000,000.00 $97,000,000.00 $11,029,921.60
Distribution Percentages 96.50% 0.00% 3.50%
Coupon 7.650% 8.000% 8.300%
Beginning Pool Balance $243,903,815.09
Ending Pool Balance $236,060,058.24
Collected Principal $7,709,139.75
Collected Interest $2,001,548.62
Charge-Offs $134,617.10
Liquidation Proceeds/Recoveries $247,007.92
Servicing $203,253.18
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $9,754,443.11
Beginning Balance $243,590,791.91$136,385,533.87 $97,000,000.00 $10,205,258.04
Interest Due $1,586,710.82 $869,457.78 $646,666.67 $70,586.37
Interest Paid $1,586,710.82 $869,457.78 $646,666.67 $70,586.37
Principal Due $7,843,756.85 $7,569,225.36 $0.00 $274,531.49
Principal Paid $7,843,756.85 $7,569,225.36 $0.00 $274,531.49
Ending Balance $235,747,035.06$128,816,308.51 $97,000,000.00 $9,930,726.55
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.6223010073 1.0000000000 0.9003442553
Total Distributions $9,430,467.67 $8,438,683.14 $646,666.67 $345,117.86
Interest Shortfall $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00
Total Shortfall (required from Reserve) $0.00 $0.00 $0.00 $0.00
Excess Servicing $323,975.44
Beginning Reserve Account Balance$14,701,971.27
(Release)/Draw $(538,367.78)
Ending Reserve Account Balance $14,163,603.49
Memo Item - Advances:
Servicer Advances - Current Month $(157,146.59)
Total Outstanding Servicer Advances$2,420,665.63
</TABLE>
<PAGE>
Exhibit 20.4
Page 3 of 3
Navistar Financial 1994-C Owner Trust
For the Month of August 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Apr 1995 May 1995 June 1995 July 1995 Aug. 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $275,352,505.86$267,465,631.09$259,895,830.27$251,839,547.04$243,903,815.09
A) Loss Trigger:
Principal of Contracts
Charged off $221,953.40 $188,306.09 $345,972.54 $105,856.09 $134,617.10
Recoveries $94,980.59 $183,131.87 $195,659.00 $191,242.39 $247,007.92
Total Charged off
(Months 5,4,3) $756,232.03
Total Recoveries
(Months 3,2,1) 633,909.31
Net Loss/(Recoveries)
for 3 Mos. $122,322.72(a)
Total Balance
(Months 5,4,3) $802,713,967.22(b)
Loss Ratio [(a/b)(12)] 0.1829%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $806,036.64 $458,691.64 $621,757.60
As % of Beginning
Pool Balance 0.31014% 0.18214% 0.25492%
Three Month Average 0.25727% 0.23535% 0.24906%
Trigger:
Is Average> 2.0% No
</TABLE>
Navistar Financial Corporation
by: /s/R. W. CAIN
R. W. CAIN
Vice President and Treasurer
<PAGE>
Exhibit 20.5
Page 1 of 3
Navistar Financial 1995-A Owner Trust
For the Month of August 1995
Distribution Date of September 20, 1995
<TABLE>
<S> <C>
Original Pool Amount $424,879,281.80
Beginning Pool Balance $388,037,002.00
Beginning Pool Factor 0.9132877
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $9,768,855.91
Interest Collected $3,456,837.95
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $205,263.52
Total Additional Deposits $205,263.52
Repos/Chargeoffs $508,479.68
Aggregate Number of Notes Charged Off 28
Total Available Funds $13,430,957.38
Ending Pool Balance $377,759,666.41
Ending Pool Factor 0.8890988
Servicing Fee $323,364.17
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance $23,389,994.99
Target Percentage 6.00%
Target Balance $22,665,579.98
Minimum Balance $8,922,464.92
(Release)/Deposit $(724,415.01)
Ending Balance $22,665,579.98
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 1,725,384.54 1,168
31-60 days 156,318.50 145
60+ days 22,755.62 18
Total 1,904,458.66 1,170
Balances:
60+ days 581,648.23 18
Memo Item - Reserve Account
Prior Month $23,282,220.12
+ Invest. Income 107,774.87
- Transfer to Collections Account 0.00
Beginning Balance $23,389,994.99
</TABLE>
<PAGE>
Exhibit 20.5
Page 2 of 3
Navistar Financial 1995-A Owner Trust
For the Month of August 1995
<TABLE>
<CAPTION>
NOTES
TOTAL CLASS A-1 CLASS A-2 CERTIFICATES
<S> <C> <C> <C> <C>
Original
Pool Amount Dist.: $424,879,281.80 $80,000,000.00$330,000,000.00 $14,879,281.80
Distribution Percentages 100.00% 0.00% 0.00%
Coupon 5.900% 6.550% 6.850%
Beginning Pool Balance $388,037,002.00
Ending Pool Balance $377,759,666.41
Collected Principal $9,768,855.91
Collected Interest $3,456,837.95
Charge-Offs $508,479.68
Liquidation Proceeds/Recoveries $205,263.52
Servicing $323,364.17
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $13,107,593.21
Beginning Balance $388,037,002.00 $43,157,720.20$330,000,000.00 $14,879,281.80
Interest Due $2,098,378.02 $212,192.12 $1,801,250.00 $84,935.90
Interest Paid $2,098,378.02 $212,192.12 $1,801,250.00 $84,935.90
Principal Due $10,277,335.59 $10,277,335.59 $0.00 $0.00
Principal Paid $10,277,335.59 $10,277,335.59 $0.00 $0.00
Ending Balance $377,759,666.41 $32,880,384.61$330,000,000.00 $14,879,281.80
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.4110048076 1.0000000000 1.0000000000
Total Distributions $12,375,713.61 $10,489,527.71 $1,801,250.00 $84,935.90
Interest Shortfall $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00
Total Shortfall (required from Reserve) $0.00 $0.00 $0.00 $0.00
Excess Servicing $731,879.60
Beginning Reserve Account Balance$23,389,994.99
(Release)/Draw $(724,415.01)
Ending Reserve Account Balance $22,665,579.98
Memo Item - Advances:
Servicer Advances - Current Month $156,673.17
Total Outstanding Servicer Advances$2,408,184.76
</TABLE>
<PAGE>
Exhibit 20.5
Page 3 of 3
Navistar Financial 1995-A Owner Trust
For the Month of August 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
May 1995 Jun 1995 Jul 1995 Aug 1995 Sep 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $424,879,281.80$414,608,188.83$404,629,494.13$388,037,002.00
A) Loss Trigger:
Principal of Contracts
Charged off $64,933.51 $132,102.43 $314,425.55 $508,479.68
Recoveries $0.00 $0.00 $68,497.34 $205,263.52
Total Charged off
(Months 5,4,3) $511,461.49
Total Recoveries
(Months 3,2,1) 273,760.86
Net Loss/(Recoveries)
for 3 Mos. $237,700.63(a)
Total Balance
(Months 5,4,3) $1,244,116,964.76(b)
Loss Ratio [(a/b)(12)] 0.2293%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $729,401.53 $645,543.16 $581,648.23
As % of Beginning
Pool Balance 0.17593% 0.15954% 0.14990%
Three Month Average 0.11639% 0.13078% 0.16179%
Trigger:
Is Average> 2.0% No
</TABLE>
Navistar Financial Corporation
by: /s/R. W. CAIN
R. W. CAIN
Vice President and Treasurer
