<PAGE>
Exhibit 20.2
Page 1 of 3
Navistar Financial 1996 - B Owner Trust
For the Month of July 2000
Distribution Date of August 21, 2000
Servicer Certificate #46
<TABLE>
<S> <C>
Original Pool Amount $486,507,362.75
Beginning Pool Balance $41,138,757.63
Beginning Pool Factor 0.0845594
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $4,051,003.47
Interest Collected $322,565.95
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $28,445.48
Total Additional Deposits $28,445.48
Repos / Chargeoffs $39,038.88
Aggregate Number of Notes Charged Off 81
Total Available Funds $4,171,437.91
Ending Pool Balance $37,279,292.27
Ending Pool Factor 0.0766264
Servicing Fee $34,282.30
Repayment of Servicer Advances $230,576.99
Reserve Account:
Beginning Balance (see Memo Item) $9,798,876.82
Target Percentage 10.00%
Target Balance $3,727,929.23
Minimum Balance $9,730,147.26
(Release) / Deposit ($68,729.56)
Ending Balance $9,730,147.26
Current Weighted Average APR: 9.447%
Current Weighted Average Remaining Term (months): 12.34
<CAPTION>
Delinquencies Dollars Notes
<S> <C> <C> <C>
Installments: 1 - 30 days $681,863.03 492
31 - 60 days $312,765.43 165
60+ days $208,070.63 68
Total: $1,202,699.09 522
Balances: 60+ days $1,410,632.93 68
Memo Item - Reserve Account
Prior Month $9,691,082.99
+ Invest. Income $51,961.70
+ Excess Serv. $55,832.13
+ Transfer (to) / from Collections Account $0.00
Beginning Balance $9,798,876.82
</TABLE>
<PAGE>
Exhibit 20.2
Page 2 of 3
Navistar Financial 1996 - B Owner Trust
For the Month of July 2000
<TABLE>
<CAPTION>
NOTES
CLASS B CLASS C
TOTAL CLASS A - 1 CLASS A - 2 CLASS A - 2 CERTIFICATES CERTIFICATES
<S> <C> <C> <C> <C> <C> <C>
$486,507,362.75 $106,500,000.00 $111,900,000.00 $236,500,000.00 $17,028,000.00 $14,579,362.75
Original Pool Amount
Distributions:
Distribution Percentages 0.00% 0.00% 93.50% 3.50% 3.00%
Coupon 5.490% 5.930% 6.330% 6.500% 7.450%
Beginning Pool Balance $41,138,757.63
Ending Pool Balance $37,279,292.27
Collected Principal $3,820,426.48
Collected Interest $322,565.95
Charge - Offs $39,038.88
Liquidation Proceeds/Recoveries $28,445.48
Servicing $34,282.30
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $4,137,155.61
Beginning Balance $41,138,757.65 $0.00 $0.00 $31,557,854.23 $5,167,588.68 $4,413,314.74
Interest Due $221,858.12 $0.00 $0.00 $166,467.68 $27,991.11 $27,399.33
Interest Paid $221,858.12 $0.00 $0.00 $166,467.68 $27,991.11 $27,399.33
Principal Due $3,859,465.36 $0.00 $0.00 $3,608,600.11 $135,081.29 $115,783.96
Principal Paid $3,859,465.36 $0.00 $0.00 $3,608,600.11 $135,081.29 $115,783.96
Ending Balance $37,279,292.29 $0.00 $0.00 $27,949,254.12 $5,032,507.39 $4,297,530.78
Note / Certificate Pool Factor 0.0000 0.0000 0.1182 0.2955 0.2948
(Ending Balance / Original Pool Amount)
Total Distributions $4,081,323.48 $0.00 $0.00 $3,775,067.79 $163,072.40 $143,183.29
Interest Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Total Shortfall $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
(required from Reserve)
Excess Servicing $55,832.13
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $9,798,876.82
(Release) / Draw ($68,729.56)
Ending Reserve Acct Balance $9,730,147.26
</TABLE>
<PAGE>
Exhibit 20.2
Page 3 of 3
Navistar Financial 1996 - B Owner Trust
For the Month of July 2000
Trigger Events:
A) Loss Trigger - Reserve Account Balance
Loss Trigger - Certificate Lockout Event
B) Delinquency Trigger
C) Noteholders Percent Trigger
<TABLE>
<CAPTION>
6 5 4 3 2 1
Feb-00 Mar-00 Apr-00 May-00 Jun-00 Jul-00
<S> <C> <C> <C> <C> <C> <C>
Beginning Pool Balance $62,720,712.10 $58,106,259.40 $54,000,053.23 $49,552,250.82 $45,146,253.30 $41,138,757.63
A) Loss Trigger:
Principal of Contracts
Charged Off $30,718.56 $132,854.35 $78,106.69 $66,833.71 $147,950.25 $39,038.88
Recoveries $22,648.10 $62,757.57 $84,134.84 $12,706.44 $35,816.44 $28,445.48
<CAPTION>
Loss Trigger - Reserve Account Balance Loss Trigger - Certificate Lockout Event
<S> <C> <C> <C>
Total Charged Off (Months 5, 4, 3) $277,794.75 Total Charged off (Months 1 - 6) $495,502.44
Total Recoveries (Months 3, 2, 1) $76,968.36 Total Recoveries (Months 1 - 6) $246,508.87
Net Loss / (Recoveries) for 3 Mos $200,826.39(a) Net Loss/(Recoveries) for 6 Mos. $248,993.57(c)
Total Balance (Months 5, 4, 3) $161,658,563.45(b) Total Balance (Months 1 - 6) $310,664,286.48(d)
Loss Ratio Annualized [(a/b) * (12)] 1.4907% Loss Ratio Annualized [(c/d) (12)] 0.96179%
Trigger: Is Ratio > 1.5% No Trigger: Is Ratio > 6.0% No
<CAPTION>
May-00 Jun-00 Jul-00
<S> <C> <C> <C> <C>
B) Delinquency Trigger: $1,051,153.50 $1,739,579.96 $1,410,632.93
Balance delinquency 60+ days 2.12130% 3.85321% 3.42896%
As % of Beginning Pool Balance 2.22903% 2.84841% 3.13449%
Three Month Average
Trigger: Is Average > 2.0% Yes
C) Noteholders Percent Trigger: 2.0000%
Ending Reserve Account Balance
not less than 1% of Initial Aggregate
Receivables Balance
Trigger: Is Minimum < 1.0% No
</TABLE>
Navistar Financial Corporation
by: /s/ R. W. Cain
R. W. Cain
Vice President and Treasurer
