<PAGE>
Exhibit 20.2
Page 1 of 3
Navistar Financial 1996 - B Owner Trust
For the Month of May 2000
Distribution Date of June 20, 2000
Servicer Certificate #44
<TABLE>
<S> <C>
Original Pool Amount $486,507,362.75
Beginning Pool Balance $49,552,250.82
Beginning Pool Factor 0.1018530
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $4,529,776.42
Interest Collected $392,438.03
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $12,706.44
Total Additional Deposits $12,706.44
Repos / Chargeoffs $66,833.71
Aggregate Number of Notes Charged Off 73
Total Available Funds $4,744,308.28
Ending Pool Balance $45,146,253.30
Ending Pool Factor 0.0927966
Servicing Fee $41,293.54
Repayment of Servicer Advances $190,612.61
Reserve Account:
Beginning Balance (see Memo Item) $9,806,862.38
Target Percentage 10.00%
Target Balance $4,514,625.33
Minimum Balance $9,730,147.26
(Release) / Deposit ($76,715.12)
Ending Balance $9,730,147.26
Current Weighted Average APR: 9.505%
Current Weighted Average Remaining Term (months): 13.79
<CAPTION>
Delinquencies Dollars Notes
<S> <C> <C> <C>
Installments: 1 - 30 days $867,052.67 568
31 - 60 days $269,039.60 182
60+ days $134,479.52 73
Total: $1,270,571.79 584
Balances: 60+ days $1,051,153.50 73
Memo Item - Reserve Account
Prior Month $9,730,147.26
+ Invest. Income $46,214.48
+ Excess Serv. $30,500.64
+ Transfer (to) / from Collections Account $0.00
Beginning Balance $9,806,862.38
</TABLE>
<PAGE>
Exhibit 20.2
Page 2 of 3
Navistar Financial 1996 - B Owner Trust
For the Month of May 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 $49,552,250.82
Ending Pool Balance $45,146,253.30
Collected Principal $4,339,163.81
Collected Interest $392,438.03
Charge - Offs $66,833.71
Liquidation Proceeds / Recoveries $12,706.44
Servicing $41,293.54
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $4,703,014.74
Beginning Balance $49,552,250.83 $0.00 $0.00 $39,424,470.36 $5,462,060.94 $4,665,719.54
Interest Due $266,516.58 $0.00 $0.00 $207,964.08 $29,586.16 $28,966.34
Interest Paid $266,516.58 $0.00 $0.00 $207,964.08 $29,586.16 $28,966.34
Principal Due $4,405,997.52 $0.00 $0.00 $4,119,607.68 $154,209.91 $132,179.93
Principal Paid $4,405,997.52 $0.00 $0.00 $4,119,607.68 $154,209.91 $132,179.93
Ending Balance $45,146,253.32 $0.00 $0.00 $35,304,862.68 $5,307,851.03 $4,533,539.61
Note / Certificate Pool Factor 0.0000 0.0000 0.1493 0.3117 0.3110
(Ending Balance / Original Pool Amount)
Total Distributions $4,672,514.10 $0.00 $0.00 $4,327,571.76 $183,796.07 $161,146.27
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 $30,500.64
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $9,806,862.38
(Release) / Draw ($76,715.12)
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 May 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
Dec-99 Jan-00 Feb-00 Mar-00 Apr-00 May-00
<S> <C> <C> <C> <C> <C> <C>
Beginning Pool Balance $73,149,488.29 $68,371,105.77 $62,720,712.10 $58,106,259.40 $54,000,053.23 $49,552,250.82
A) Loss Trigger:
Principal of Contracts
Charged Off $30,469.18 $46,351.33 $30,718.56 $132,854.35 $78,106.69 $66,833.71
Recoveries $160,540.93 $19,939.19 $22,648.10 $62,757.57 $84,134.84 $12,706.44
<CAPTION>
Loss Trigger - Reserve Account Balance Loss Trigger - Certificate Lockout Event
<S> <C> <C> <C>
Total Charged Off (Months 5, 4, 3) $209,924.24 Total Charged off (Months 1 - 6) $385,333.82
Total Recoveries (Months 3, 2, 1) $159,598.85 Total Recoveries (Months 1 - 6) $362,727.07
Net Loss / (Recoveries) for 3 Mos $50,325.39(a) Net Loss/(Recoveries) for 6 Mos. $22,606.75(c)
Total Balance (Months 5, 4, 3) $189,198,077.27(b) Total Balance (Months 1 - 6) $365,899,869.61(d)
Loss Ratio Annualized [(a/b) * (12)] 0.3192% Loss Ratio Annualized [(c/d) (12)] 0.07414%
Trigger: Is Ratio > 1.5% No Trigger: Is Ratio > 6.0% No
<CAPTION>
Mar-00 Apr-00 May-00
<S> <C> <C> <C> <C>
B) Delinquency Trigger: $1,159,264.88 $1,388,180.48 $1,051,153.50
Balance delinquency 60+ days 1.99508% 2.57070% 2.12130%
As % of Beginning Pool Balance 1.92411% 2.16624% 2.22903%
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
