<PAGE>
Exhibit 20.2
Page 1 of 3
Navistar Financial 1996 - B Owner Trust
For the Month of April 2000
Distribution Date of May 22, 2000
Servicer Certificate #43
<TABLE>
<S> <C>
Original Pool Amount $486,507,362.75
Beginning Pool Balance $54,000,053.23
Beginning Pool Factor 0.1109953
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $4,369,695.72
Interest Collected $416,080.99
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $84,134.84
Total Additional Deposits $84,134.84
Repos / Chargeoffs $78,106.69
Aggregate Number of Notes Charged Off 72
Total Available Funds $4,869,911.55
Ending Pool Balance $49,552,250.82
Ending Pool Factor 0.1018530
Servicing Fee $45,000.04
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $9,865,795.54
Target Percentage 10.00%
Target Balance $4,955,225.08
Minimum Balance $9,730,147.26
(Release) / Deposit ($135,648.28)
Ending Balance $9,730,147.26
Current Weighted Average APR: 9.518%
Current Weighted Average Remaining Term (months): 14.52
<CAPTION>
Delinquencies Dollars Notes
<S> <C> <C> <C>
Installments: 1 - 30 days $845,468.73 658
31 - 60 days $246,882.41 184
60+ days $159,492.83 87
Total: $1,251,843.97 675
Balances: 60+ days $1,388,180.48 87
Memo Item - Reserve Account
Prior Month $9,730,147.26
+ Invest. Income $48,664.52
+ Excess Serv. $86,983.76
+ Transfer (to) / from Collections Account $0.00
Beginning Balance $9,865,795.54
</TABLE>
<PAGE>
Exhibit 20.2
Page 2 of 3
Navistar Financial 1996 - B Owner Trust
For the Month of April 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 $54,000,053.23
Ending Pool Balance $49,552,250.82
Collected Principal $4,369,695.72
Collected Interest $416,080.99
Charge - Offs $78,106.69
Liquidation Proceeds / Recoveries $84,134.84
Servicing $45,000.04
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $4,824,911.51
Beginning Balance $54,000,053.25 $0.00 $0.00 $43,583,165.61 $5,617,734.02 $4,799,153.61
Interest Due $290,125.34 $0.00 $0.00 $229,901.20 $30,429.39 $29,794.75
Interest Paid $290,125.34 $0.00 $0.00 $229,901.20 $30,429.39 $29,794.75
Principal Due $4,447,802.41 $0.00 $0.00 $4,158,695.25 $155,673.08 $133,434.07
Principal Paid $4,447,802.41 $0.00 $0.00 $4,158,695.25 $155,673.08 $133,434.07
Ending Balance $49,552,250.83 $0.00 $0.00 $39,424,470.36 $5,462,060.94 $4,665,719.54
Note / Certificate Pool Factor 0.0000 0.0000 0.1667 0.3208 0.3200
(Ending Balance / Original Pool Amount)
Total Distributions $4,737,927.75 $0.00 $0.00 $4,388,596.45 $186,102.47 $163,228.82
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 $86,983.76
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $9,865,795.54
(Release) / Draw ($135,648.28)
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 April 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
Nov-99 Dec-99 Jan-00 Feb-00 Mar-00 Apr-00
<S> <C> <C> <C> <C> <C> <C>
Beginning Pool Balance $79,055,684.41 $73,149,488.29 $68,371,105.77 $62,720,712.10 $58,106,259.40 $54,000,053.23
A) Loss Trigger:
Principal of Contracts
Charged Off $34,112.90 $30,469.18 $46,351.33 $30,718.56 $132,854.35 $78,106.69
Recoveries $224,020.48 $160,540.93 $19,939.19 $22,648.10 $62,757.57 $84,134.84
<CAPTION>
Loss Trigger - Reserve Account Balance Loss Trigger - Certificate Lockout Event
<S> <C> <C> <C>
Total Charged Off (Months 5, 4, 3) $107,539.07 Total Charged off (Months 1 - 6) $352,613.01
Total Recoveries (Months 3, 2, 1) $169,540.51 Total Recoveries (Months 1 - 6) $574,041.11
Net Loss / (Recoveries) for 3 Mos ($62,001.44)(a) Net Loss/(Recoveries) for 6 Mos. ($221,428.10)(c)
Total Balance (Months 5, 4, 3) $204,241,306.16 (b) Total Balance (Months 1 - 6) $395,403,303.20 (d)
Loss Ratio Annualized [(a/b) * (12)] -0.3643% Loss Ratio Annualized [(c/d) (12)] -0.67201%
Trigger: Is Ratio > 1.5% No Trigger: Is Ratio > 6.0% No
<CAPTION>
Feb-00 Mar-00 Apr-00
<S> <C> <C> <C> <C>
B) Delinquency Trigger: $1,212,356.92 $1,159,264.88 $1,388,180.48
Balance delinquency 60+ days 1.93295% 1.99508% 2.57070%
As % of Beginning Pool Balance 1.60708% 1.92411% 2.16624%
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
