<PAGE>
Exhibit 20.2
Page 1 of 3
Navistar Financial 1997 - A Owner Trust
For the Month of September 2000
Distribution Date of October 16, 2000
Servicer Certificate #42
<TABLE>
<S> <C>
Original Pool Amount Initial Receivables $411,613,980.45
Subsequent Receivables (transferred 5/9/97) $76,128,743.83
Subsequent Receivables (transferred 5/23/97) $12,254,010.44
Beginning Pool Balance $55,033,484.89
Beginning Pool Factor 0.1128330
Principal and Interest Collections:
Principal Collected (Incl. Servicer Advance Repay) $4,494,397.15
Interest Collected $422,138.65
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $481,343.51
Total Additional Deposits $481,343.51
Repos / Chargeoffs $136,763.42
Aggregate Number of Notes Charged Off 208
Total Available Funds $5,397,879.31
Ending Pool Balance $50,402,324.32
Ending Pool Factor 0.1033379
Servicing Fee $45,861.24
Repayment of Servicer Advances $0.00
Reserve Account:
Beginning Balance (see Memo Item) $9,154,028.39
Target Percentage 10.00%
Target Balance $5,040,232.43
Minimum Balance $10,499,931.43
(Release) / Deposit ($51,354.06)
Ending Balance $9,102,674.33
Current Weighted Average APR: 9.659%
Current Weighted Average Remaining Term (months): 15.95
<CAPTION>
Delinquencies Dollars Notes
<S> <C> <C> <C>
Installments: 1 - 30 days $906,687.93 645
31 - 60 days $329,231.66 198
60+ days $255,242.15 74
Total: $1,491,161.74 671
Balances: 60+ days $1,189,430.58 74
Memo Item - Reserve Account
Prior Month $8,694,296.85
+ Invest. Income $51,354.06
+ Excess Serv. $408,377.48
+ Transfer (to) / from Collections Account $0.00
Beginning Balance $9,154,028.39
</TABLE>
<PAGE>
Exhibit 20.2
Page 2 of 3
Navistar Financial 1997 - A Owner Trust
For the Month of September 2000
<TABLE>
<CAPTION>
NOTES
(Money Market)
TOTAL CLASS A - 1 CLASS A - 2 CLASS A - 3 CLASS B NOTES
<S> <C> <C> <C> <C> <C>
$500,000,000.00 $85,000,000.00 $221,500,000.00 $176,000,000.00 $17,500,000.00
Original Pool Amount
Distributions:
Distribution Percentages 0.00% 0.00% 100.00% 0.00%
Coupon 5.841% 6.350% 6.750% 6.950%
Beginning Pool Balance $55,033,484.89
Ending Pool Balance $50,402,324.32
Collected Principal $4,494,397.15
Collected Interest $422,138.65
Charge - Offs $136,763.42
Liquidation Proceeds / Recoveries $481,343.51
Servicing $45,861.24
Cash Transfer from Reserve Account $0.00
Total Collections Available
for Debt Service $5,352,018.07
Beginning Balance $55,033,484.89 $0.00 $0.00 $37,533,484.89 $17,500,000.00
Interest Due $312,480.02 $0.00 $0.00 $211,125.85 $101,354.17
Interest Paid $312,480.02 $0.00 $0.00 $211,125.85 $101,354.17
Principal Due $4,631,160.57 $0.00 $0.00 $4,631,160.57 $0.00
Principal Paid $4,631,160.57 $0.00 $0.00 $4,631,160.57 $0.00
Ending Balance $50,402,324.32 $0.00 $0.00 $32,902,324.32 $17,500,000.00
Note / Certificate Pool Factor 0.0000 0.0000 0.1869 1.0000
(Ending Balance / Original Pool Amount)
Total Distributions $4,943,640.59 $0.00 $0.00 $4,842,286.42 $101,354.17
Interest Shortfall $0.00 $0.00 $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00 $0.00 $0.00
Total Shortfall $0.00 $0.00 $0.00 $0.00 $0.00
(required from Reserve)
Excess Servicing $408,377.48
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $9,154,028.39
(Release) / Draw ($51,354.06)
Ending Reserve Acct Balance $9,102,674.33
</TABLE>
<PAGE>
Exhibit 20.2
Page 3 of 3
Navistar Financial 1997 - A Owner Trust
For the Month of September 2000
Trigger Events:
A) Loss Trigger
B) Delinquency Trigger
C) Noteholders Percent Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
May-00 Jun-00 Jul-00 Aug-00 Sep-00
<S> <C> <C> <C> <C> <C>
Beginning Pool Balance $78,474,322.06 $72,015,896.82 $66,632,300.31 $61,819,295.87 $55,033,484.89
A) Loss Trigger:
Principal of Contracts
Charged Off $457,841.20 $178,546.49 $301,879.18 $1,050,448.75 $136,763.42
Recoveries $41,839.08 $506,889.99 $222,782.98 $195,037.80 $481,343.51
Total Charged Off (Months 5, 4, 3) $938,266.87
Total Recoveries (Months 3, 2, 1) $899,164.29
Net Loss / (Recoveries) for 3 Mos $39,102.58(a)
Total Balance (Months 5, 4, 3) $217,122,519.19(b)
Loss Ratio Annualized [(a/b) * (12)] 0.2161%
Trigger: Is Ratio > 1.5% No
Jul-00 Aug-00 Sep-00
B) Delinquency Trigger: $2,129,800.27 $1,441,691.91 $1,189,430.58
Balance delinquency 60+ days 3.19635% 2.33211% 2.16129%
As % of Beginning Pool Balance 3.05587% 2.98826% 2.56325%
Three Month Average
Trigger: Is Average > 2.0% Yes
C) Noteholders Percent Trigger: 1.8205%
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
