<PAGE>
Exhibit 20.5
Page 1 of 3
Navistar Financial 1998 - A Owner Trust
For the Month of June 2000
Distribution Date of July 17, 2000
Servicer Certificate #26
<TABLE>
<S> <C>
Original Pool Amount $500,864,370.04
Beginning Pool Balance $191,640,559.16
Beginning Pool Factor 0.382619668
Principal and Interest Collections:
Principal Collected $8,433,310.74
Interest Collected $1,487,314.13
Additional Deposits:
Repurchase Amounts $0.00
Liquidation Proceeds / Recoveries $341,777.17
Total Additional Deposits $341,777.17
Repos / Chargeoffs $591,292.42
Aggregate Number of Notes Charged Off 127
Total Available Funds $10,193,082.16
Ending Pool Balance $182,685,275.88
Ending Pool Factor 0.3647400
Servicing Fee $159,700.47
Repayment of Servicer Advances $69,319.88
Reserve Account:
Beginning Balance (see Memo Item) $10,246,737.08
Target Percentage 5.25%
Target Balance $9,590,976.98
Minimum Balance $10,017,287.40
(Release) / Deposit ($229,449.68)
Ending Balance $10,017,287.40
Current Weighted Average APR: 9.173%
Current Weighted Average Remaining Term (months): 28.87
<CAPTION>
Delinquencies Dollars Notes
<S> <C> <C> <C>
Installments: 1 - 30 days $1,482,976.77 1,362
31 - 60 days $428,899.41 399
60+ days $229,988.93 116
Total: $2,141,865.11 1,376
Balances: 60+ days $3,368,419.01 116
Memo Item - Reserve Account
Prior Month $10,061,129.36
+ Invest. Income $57,024.41
+ Excess Serv. $128,583.31
+ Transfer (to) / from Collections Account $0.00
Beginning Balance $10,246,737.08
</TABLE>
<PAGE>
Exhibit 20.5
Page 2 of 3
Navistar Financial 1998 - A Owner Trust
For the Month of June 2000
<TABLE>
<CAPTION>
NOTES
TOTAL CLASS A CLASS B
<S> <C> <C> <C>
$500,864,370.04 $483,334,000.00 $17,530,370.04
Original Pool Amount
Distributions:
Distribution Percentages 96.50% 3.50%
Coupon 5.94% 6.10%
Beginning Pool Balance $191,640,559.16
Ending Pool Balance $182,685,275.88
Collected Principal $8,363,990.86
Collected Interest $1,487,314.13
Charge - Offs $591,292.42
Liquidation Proceeds / Recoveries $341,777.17
Servicing $159,700.47
Cash Transfer from Reserve Account $0.00
Total Collections Avail for Debt Service $10,033,381.69
Beginning Balance $191,640,559.16 $184,933,022.50 $6,707,536.66
Interest Due $949,515.10 $915,418.46 $34,096.64
Interest Paid $949,515.10 $915,418.46 $34,096.64
Principal Due $8,955,283.28 $8,641,848.37 $313,434.91
Principal Paid $8,955,283.28 $8,641,848.37 $313,434.91
Ending Balance $182,685,275.88 $176,291,174.13 $6,394,101.75
Note / Certificate Pool Factor 0.3647 0.3647
(Ending Balance / Original Pool Amount)
Total Distributions $9,904,798.38 $9,557,266.83 $347,531.55
Interest Shortfall $0.00 $0.00 $0.00
Principal Shortfall $0.00 $0.00 $0.00
Total Shortfall $0.00 $0.00 $0.00
(required from Reserve)
Excess Servicing $128,583.31
(see Memo Item - Reserve Account)
Beginning Reserve Acct Balance $10,246,737.08
(Release) / Draw ($229,449.68)
Ending Reserve Acct Balance $10,017,287.40
</TABLE>
<PAGE>
Exhibit 20.5
Page 3 of 3
Navistar Financial 1998 - A Owner Trust
For the Month of June 2000
Trigger Events:
A) Loss Trigger
B) Delinquency Trigger
C) Noteholders Percent Trigger
<TABLE>
<CAPTION>
5 4 3 2 1
Feb-00 Mar-00 Apr-00 May-00 Jun-00
<S> <C> <C> <C> <C> <C>
Beginning Pool Balance $228,135,837.11 $219,775,739.55 $209,867,658.70 $201,070,093.91 $191,640,559.16
A) Loss Trigger:
Principal of Contracts
Charged Off $607,326.27 $618,471.73 $209,289.64 $424,119.16 $591,292.42
Recoveries $444,337.03 $415,695.09 $439,983.34 $327,472.56 $341,777.17
Total Charged Off (Months 5, 4, 3) $1,435,087.64
Total Recoveries (Months 3, 2, 1) $1,109,233.07
Net Loss / (Recoveries) for 3 Mos $325,854.57 (a)
Total Balance (Months 5, 4, 3) $657,779,235.36 (b)
Loss Ratio Annualized [(a/b) * (12)] 0.59446%
Trigger: Is Ratio > 1.5% No
Apr-00 May-00 Jun-00
B) Delinquency Trigger: $4,324,921.20 $3,892,133.19 $3,368,419.01
Balance delinquency 60+ days 2.06078% 1.93571% 1.75768%
As % of Beginning Pool Balance 1.95180% 1.85347% 1.91806%
Three Month Average
Trigger: Is Average > 2.0% No
C) Noteholders Percent Trigger: 2.00000%
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
