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) August 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 August 15 and 21, 1995, Registrant made available the
Monthly Servicer Certificates for the Period of July 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 August 25, 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 August 15, 1995
Navistar Financial 1994-A Owner Trust
20.2 Monthly Servicer Certificate, dated August 15, 1995
Navistar Financial 1994-B Owner Trust
20.3 Monthly Servicer Certificate, dated August 15, 1995
Navistar Financial 1994-C Owner Trust
20.4 Monthly Servicer Certificate, dated August 21, 1995
Navistar Financial 1995-A Owner Trust
20.5 Monthly Servicer Certificate, dated August 21, 1995
<PAGE>
Exhibit 20.1
Page 1 of 3
Navistar Financial 1993-A Owner Trust
For the Month of July 1995
Distribution Date of August 15, 1995
<TABLE>
<S> <C>
Original Pool Amount $335,002,547.77
Beginning Pool Balance $110,086,049.11
Beginning Pool Factor 0.3286126
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $6,944,574.26
Interest Collected $830,867.72
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $92,283.81
Total Additional Deposits $92,283.81
Repos/Chargeoffs $5,448.60
Aggregate Number of Notes Charged Off 20
Total Available Funds $7,867,725.79
Ending Pool Balance $103,136,026.25
Ending Pool Factor 0.3078664
Servicing Fee $91,738.37
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance $8,293,347.83
Target Percentage 7.50%
Target Balance $7,735,201.97
Minimum Balance $6,700,050.96
(Release)/Deposit $(558,145.86)
Ending Balance $7,735,201.97
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 920,360.46 726
31-60 days 138,955.33 139
60+ days 35,125.08 27
Total 1,094,440.87 746
Balances:
60+ days 241,366.37 27
Memo Item - Reserve Account
Prior Month $8,256,453.67
Invest. Income 36,894.16
Beginning Balance $8,293,347.83
</TABLE>
<PAGE>
Exhibit 20.1
Page 2 of 3
Navistar Financial 1993-A Owner Trust
For the Month of July 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 $110,086,049.11
Ending Pool Balance $103,136,026.25
Collected Principal $6,944,574.26
Collected Interest $830,867.72
Liquidation Proceeds/Recoveries$92,283.81
Charge-Offs $5,448.60
Servicing $91,738.37
Total Collections Available
for Debt Service $7,775,987.42
Beginning Balance $98,835,711.37 $0.00 $92,008,171.24$6,827,540.13
Interest Due $370,423.97 $0.00 $343,113.81 $27,310.16
Interest Paid $370,423.97 $0.00 $343,113.81 $27,310.16
Principal Due $6,950,022.86 $0.00 $6,637,271.83 $312,751.03
Principal Paid $6,950,022.86 $0.00 $6,637,271.83 $312,751.03
Turbo Principal $0.00 $0.00 $0.00 $0.00
Ending Balance $91,885,688.51 $0.00 $85,370,899.41$6,514,789.10
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.00 0.4356191544 0.5555589958
Total Distributions $7,320,446.83 $0.00 $6,980,385.64 $340,061.19
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 $455,540.59
Beginning Reserve Account Balance$8,293,347.83
(Release)/Draw $(558,145.86)
Ending Reserve Account Balance$7,735,201.97
Memo Item - Advances:
Servicer Advances - Current Month$9,537.13
Total Outstanding Servicer Advances$2,797,527.34
</TABLE>
<PAGE>
Exhibit 20.1
Page 3 of 3
Navistar Financial 1993-A Owner Trust
For the Month of July 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Mar 1995 Apr 1995 May 1995 June1995 July 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $141,826,345.98$133,656,652.98$126,201,758.79$118,134,927.19$110,086,049.11
A) Loss Trigger:
Principal of Contracts
Charged off $133,880.91 $179,609.57 $156,415.59 $49,805.68 $5,448.60
Recoveries $228,450.98 $84,665.15 $167,464.36 $80,034.02 $92,283.81
Total Charged off
(Months 5,4,3) $469,906.07
Total Recoveries
(Months 3,2,1) 339,782.19
Net Loss/(Recoveries)
for 3 Mos. $130,123.88(a)
Total Balance
(Months 5,4,3) $401,684,757.75(b)
Loss Ratio [(a/b)(12)] 0.3887%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $465,259.59 $226,609.50 $241,366.37
As % of Beginning
Pool Balance 0.36866% 0.19182% 0.21925%
Three Month Average 0.36010% 0.28340% 0.25991%
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 July 1995
Distribution Date of August 15, 1995
<TABLE>
<S> <C>
Original Pool Amount $280,021,471.35
Beginning Pool Balance $160,120,763.05
Beginning Pool Factor 0.5718160
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $7,096,879.81
Interest Collected $1,194,884.50
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $146,959.92
Total Additional Deposits $146,959.92
Repos/Chargeoffs $25,779.12
Aggregate Number of Notes Charged Off 20
Total Available Funds $8,120.590.53
Ending Pool Balance $153,316,237.82
Ending Pool Factor 0.5475160
Servicing Fee $133,433.97
Repayment of Servicer Advances $318,133.70
Reserve Account:
Beginning Balance $10,454,356.08
Target Percentage 6.50%
Target Balance $9,965,555.46
Minimum Balance $5,600,429.43
(Release)/Deposit $(488,800.62)
Ending Balance $9,965,555.46
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 1,024,468.26 879
31-60 days 150,638.56 162
60+ days 23,596.92 26
Total 1,198,703.74 890
Balances:
60+ days 282,668.21 26
Memo Item - Reserve Account
Prior Month $10,407,849.60
+ Invest. Income 46,506.48
- Withdrawal 0.00
Beginning Balance $10,454,356.08
</TABLE>
<PAGE>
Exhibit 20.2
Page 2 of 3
Navistar Financial 1994-A Owner Trust
For the Month of July 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 $160,120,763.05
Ending Pool Balance $153,316,237.82
Collected Principal $6,778,746.11
Collected Interest $1,194,884.50
Charge-Offs $25,779.12
Servicing $146,959.92
Liquidation Proceeds/Recoveries$133,433.97
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $7,987,156.56
Beginning Balance $154,305,487.32 $0.00$146,128,965.25$8,176,522.07
Interest Due $764,774.83 $0.00 $722,120.64 $42,654.19
Interest Paid $764,774.83 $0.00 $722,120.64 $42,654.19
Principal Due $6,804,525.23 $0.00 $6,498,321.59 $306,203.64
Principal Paid $6,804,525.23 $0.00 $6,498,321.59 $306,203.64
Turbo Principal $0.00 $0.00 $0.00 $0.00
Ending Balance $147,500,962.09 $0.00$139,630,643.66$7,870,318.43
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.00 0.7730887066 0.8029731611
Total Distributions $7,569,300.06 $0.00 $7,220,442.23 $348,857.83
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 $417,856.50
Beginning Reserve Account Balance$10,454,356.08
(Release)/Draw $(488,800.62)
Ending Reserve Account Balance$9,965,555.46
Memo Item - Advances:
Servicer Advances - Current Month$(318,133.70)
Total Outstanding Servicer Advances$2,611,629.77
</TABLE>
<PAGE>
Exhibit 20.2
Page 3 of 3
Navistar Financial 1994-A Owner Trust
For the Month of July 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Mar 1995 Apr 1995 May 1995 June 1995 July 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $191,225,748.38 $183,607,976.18$175,626,121.20$168,810,661.60$160,120,763.05
A) Loss Trigger:
Principal of Contracts
Charged off $54,301.50 $256,743.69 $131,502.23 $82,845.14 $25,779.12
Recoveries $409,655.39 $62,308.63 $264,905.32 $163,176.89 $146,959.92
Total Charged off
(Months 5,4,3) $442,547.42
Total Recoveries
(Months 3,2,1) 575,042.13
Net Loss/(Recoveries)
for 3 Mos. $(132,494.71)(a)
Total Balance
(Months 5,4,3) $550,459,845.76(b)
Loss Ratio [(a/b)(12)] (0.2888)%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $375,105.45 $263,018.86 $282,668.21
As % of Beginning
Pool Balance 0.21358% 0.15581% 0.17653%
Three Month Average 0.32158% 0.17874% 0.18197%
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 July 1995
Distribution Date of August 15, 1995
<TABLE>
<S> <C>
Original Pool Amount $215,029,773.64
Beginning Pool Balance $148,854,565.73
Beginning Pool Factor 0.6922510
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $5,736,818.62
Interest Collected $1,147,340.98
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $178,066.34
Total Additional Deposits $178,066.34
Repos/Chargeoffs $252,456.52
Aggregate Number of
Notes Charged Off 13
Total Available Funds $6,888,360.43
Ending Pool Balance $143,039,156.10
Ending Pool Factor 0.6652063
Servicing Fee $124,045.47
Repayment of Servicer Advances $173,865.51
Reserve Account:
Beginning Balance $9,718,782.11
Target Percentage 6.50%
Target Balance $9,297,545.15
Minimum Balance $4,300,595.47
(Release)/Deposit $(421,236.96)
Ending Balance $9,297,545.15
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 870,659.05 737
31-60 days 118,492.91 114
60+ days 18,738.56 17
Total 1,007,890.52 739
Balances:
60+ days 384,038.37 17
Memo Item - Reserve Account
Prior Month $9,675,546.77
+ Invest. Income 43,235.34
- Transfer to Collection Account 0.00
Beginning Balance $9,718,782.11
</TABLE>
<PAGE>
Exhibit 20.3
Page 2 of 3
Navistar Financial 1994-B Owner Trust
For the Month of July 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 $148,854,565.73
Ending Pool Balance $143,039,156.10
Collected Principal $5,562,953.11
Collected Interest $1,147,340.98
Charge-Offs $252,456.52
Liquidation Proceeds/Recoveries$178,066.34
Servicing $124,045.47
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $6,764,314.96
Beginning Balance $148,450,840.84 $143,254,329.84 $5,196,511.00
Interest Due $792,712.16 $764,023.09 $28,689.07
Interest Paid $792,712.16 $764,023.09 $28,689.07
Principal Due $5,815,409.63 $5,611,870.29 $203,539.34
Principal Paid $5,815,409.63 $5,611,870.29 $203,539.34
Ending Balance $142,635,431.21 $137,642,459.55 $4,992,971.66
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.6633275642 0.6633614744
Total Distributions $6,608,121.79 $6,375,893.38 $232,228.41
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 $156,193.17
Beginning Reserve Account Balance$9,718,782.11
(Release)/Draw $(421,236.96)
Ending Reserve Account Balance$9,297,545.15
Memo Item - Advances:
Servicer Advances - Current Month$(173,865.51)
Total Outstanding Servicer Advances$1,756,850.41
</TABLE>
<PAGE>
Exhibit 20.3
Page 3 of 3
Navistar Financial 1994-B Owner Trust
For the Month of July 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Mar 1995 Apr 1995 May 1995 June 1995 July 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $171,407,615.31$165,999,038.63$160,122,398.57$154,739,207.61$148,854,565.73
A) Loss Trigger:
Principal of Contracts
Charged off $47,892.56 $671,427.43 $171,522.06 $171,487.42 $252,456.52
Recoveries $125,718.00 $339,848.82 $572,354.58 $201,635.18 $178,066.34
Total Charged off
(Months 5,4,3) $890,842.05
Total Recoveries
(Months 3,2,1) 952,056.10
Net Loss/(Recoveries)
for 3 Mos. $(61,214.05)(a)
Total Balance
(Months 5,4,3) $497,529,052.51(b)
Loss Ratio [(a/b)(12)] (0.1476)%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $364,820.05 $529,229.89 $384,038.37
As % of Beginning
Pool Balance 0.22784% 0.34201% 0.25800%
Three Month Average 0.29209% 0.27048% 0.27595%
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 July 1995
Distribution Date of August 21, 1995
<TABLE>
<S> <C>
Original Pool Amount $315,029,921.60
Beginning Pool Balance $251,839,547.04
Beginning Pool Factor 0.7994147
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $8,411,436.26
Interest Collected $2,068,488.30
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $191,242.39
Total Additional Deposits $191,242.39
Repos/Chargeoffs $105,856.09
Aggregate Number of Notes Charged Off 21
Total Available Funds $10,089,606.55
Ending Pool Balance $243,903,815.09
Ending Pool Factor 0.7742243
Servicing Fee $209,866.29
Repayment of Servicer Advances $581,560.40
Reserve Account:
Beginning Balance $15,180,441.48
Target Percentage 6.00%
Target Balance $14,634,228.91
Minimum Balance $6,615,628.35
(Release)/Deposit $(546,212.57)
Ending Balance $14,634,228.91
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 1,337,692.98 995
31-60 days 140,666.84 145
60+ days 33,249.19 22
Total 1,511,609.01 996
Balances:
60+ days 458,691.64 22
Memo Item - Reserve Account
Prior Month $15,110,372.82
+ Invest. Income 70,068.66
- Transfer to Collections Account 0.00
Beginning Balance $15,180,441.48
</TABLE>
<PAGE>
Exhibit 20.4
Page 2 of 3
Navistar Financial 1994-C Owner Trust
For the Month of July 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 $251,839,547.04
Ending Pool Balance $243,903,815.09
Collected Principal $7,829,875.86
Collected Interest $2,068,488.30
Charge-Offs $105,856.09
Liquidation Proceeds/Recoveries$191,242.39
Servicing $209,866.29
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $9,879,740.26
Beginning Balance $251,526,523.86 $144,043,515.20 $97,000,000.00$10,483,008.66
Interest Due $1,637,451.56 $918,277.41 $646,666.67 $72,507.48
Interest Paid $1,637,451.56 $918,277.41 $646,666.67 $72,507.48
Principal Due $7,935,731.95 $7,657,981.33 $0.00 $277,750.62
Principal Paid $7,935,731.95 $7,657,981.33 $0.00 $277,750.62
Ending Balance $243,590,791.91 $136,385,533.87 $97,000,000.00$10,205,258.04
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.6588673134 1.0000000000 0.9252339598
Total Distributions $9,573,183.51 $8,576,258.74 $646,666.67 $350,258.10
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 $306,556.75
Beginning Reserve Account Balance$15,180,441.48
(Release)/Draw $(546,212.57)
Ending Reserve Account Balance$14,634,228.91
Memo Item - Advances:
Servicer Advances - Current Month$(581,560.40)
Total Outstanding Servicer Advances$2,577,812.22
</TABLE>
<PAGE>
Exhibit 20.4
Page 3 of 3
Navistar Financial 1994-C Owner Trust
For the Month of July 1995
Trigger Events: A) Loss Trigger
B) Delinquency Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Mar 1995 Apr 1995 May 1995 June 1995 July 1995
<S> <C> <C> <C> <C> <C>
Beg. Pool Balance $283,644,074.75$275,352,505.86$267,465,631.09$259,895,830.27$251,839,547.04
A) Loss Trigger:
Principal of Contracts
Charged off $162,132.14 $221,953.40 $188,306.09 $345,972.54 $105,856.09
Recoveries $206,279.35 $94,980.59 $183,131.87 $195,659.00 $191,242.39
Total Charged off
(Months 5,4,3) $572,391.63
Total Recoveries
(Months 3,2,1) 570,033.26
Net Loss/(Recoveries)
for 3 Mos. $2,358.37(a)
Total Balance
(Months 5,4,3) $826,462,211.70(b)
Loss Ratio [(a/b)(12)] 0.0034%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $571,744.30 $806,036.64 $458,691.64
As % of Beginning
Pool Balance 0.21376% 0.31014% 0.18214%
Three Month Average 0.24912% 0.25727% 0.23535%
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 July 1995
Distribution Date of August 21, 1995
<TABLE>
<S> <C>
Original Pool Amount $424,879,281.80
Beginning Pool Balance $404,629,494.13
Beginning Pool Factor 0.9523399
Principal and Interest Collections:
Principal Collected
(Including Servicer Advance Repay) $16,278,066.58
Interest Collected $3,709,307.88
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds/Recoveries $0.00
Total Additional Deposits $0.00
Repos/Chargeoffs $314,425.55
Aggregate Number of Notes Charged Off 0
Total Available Funds $19,987,374.46
Ending Pool Balance $388,037,002.00
Ending Pool Factor 0.9132877
Servicing Fee $337,191.25
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance $24,390,347.87
Target Percentage 6.00%
Target Balance $23,282,220.12
Minimum Balance $8,922,464.92
(Release)/Deposit $(1,108,127.75)
Ending Balance $23,282,220.12
</TABLE>
<TABLE>
<CAPTION>
Dollars Notes
<S> <C> <C>
Delinquencies:
Installments:
1-30 days 1,700,492.89 1,248
31-60 days 193,682.66 170
60+ days 22,666.03 25
Total 1,916,841.58 1,250
Balances:
60+ days 645,543.16 25
Memo Item - Reserve Account
Prior Month $24,277,769.65
+ Invest. Income 112,578.22
- Transfer to Collections Account 0.00
Beginning Balance $24,390,347.87
</TABLE>
<PAGE>
Exhibit 20.5
Page 2 of 3
Navistar Financial 1995-A Owner Trust
For the Month of July 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 $404,629,494.13
Ending Pool Balance $388,037,002.00
Collected Principal $16,278,066.58
Collected Interest $3,709,307.88
Charge-Offs $314,425.55
Liquidation Proceeds/Recoveries $0.00
Servicing $337,191.25
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $19,650,183.21
Beginning Balance $404,629,494.13 $59,750,212.33$330,000,000.00$14,879,281.80
Interest Due $2,179,957.78 $293,771.88 $1,801,250.00 $84,935.90
Interest Paid $2,179,957.78 $293,771.88 $1,801,250.00 $84,935.90
Principal Due $16,592,492.13 $16,592,492.13 $0.00 $0.00
Principal Paid $16,592,492.13 $16,592,492.13 $0.00 $0.00
Ending Balance $388,037,002.00 $43,157,720.20$330,000,000.00$14,879,281.80
Note/Certificate Pool Factor
(Ending Balance/Original Pool Amount) 0.5394715025 1.0000000000 1.0000000000
Total Distributions $18,772,449.91 $16,886,264.01 $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 $877,733.30
Beginning Reserve Account Balance$24,390,347.87
(Release)/Draw $(1,108,127.75)
Ending Reserve Account Balance$23,282,220.12
Memo Item - Advances:
Servicer Advances - Current Month$180,409.17
Total Outstanding Servicer Advances$2,251,511.59
</TABLE>
<PAGE>
Exhibit 20.5
Page 3 of 3
Navistar Financial 1995-A Owner Trust
For the Month of July 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>
Beg. Pool Balance $424,879,281.80$414,608,188.83$404,629,494.13
A) Loss Trigger:
Principal of Contracts
Charged off $64,933.51 $132,102.43 $314,425.55
Recoveries $0.00 $0.00 $0.00
Total Charged off
(Months 5,4,3) $511,461.49
Total Recoveries
(Months 3,2,1) 0.00
Net Loss/(Recoveries)
for 3 Mos. $511,461.49(a)
Total Balance
(Months 5,4,3) $1,244,116,964.76(b)
Loss Ratio [(a/b)(12)] 0.4933%
Trigger:
Is Ratio> 1.5% No
B) Delinquency Trigger:
Balance delinquency
60+ days $241,605.37 $729,401.53 $645,543.16
As % of Beginning
Pool Balance 0.05686% 0.17593% 0.15954%
Three Month Average 0.05686% 0.11639% 0.13078%
Trigger:
Is Average> 2.0% No
</TABLE>
Navistar Financial Corporation
by: /s/R. W. CAIN
R. W. CAIN
Vice President and Treasurer
