Westcorp 8-K Westcorp Reports Record Second Quarter Net Income

Exhibit 99.1

Date:	July 26, 2005
Contacts:	Robert J. Costantino
	Executive Vice President
	Chief Financial Officer
	Investor Relations
	Phone: (949) 727-1002
	Caren Roberson
	Director Marketing Communications
	Media Relations
	Phone: (949) 753-3711
Email:	Investor_Relations@WestcorpInc.com

Westcorp Reports Record Second Quarter Net Income

• Second quarter net income increased 20% to a record $65 million

• Earnings per share increased 19% to a record $1.24 per share

• Contract originations grew 21% to $2.0 billion

• Second quarter annualized credit losses on contracts improved 58 basis points to 1.15%

• Delinquencies improved 41 basis points year over year to 1.80%

Irvine, CA: Westcorp (NYSE:WES) reported that net income increased 20% to a record $65.3 million for the three months ended June 30, 2005 compared with $54.4 million for the same period a year ago. Earnings per diluted share increased 19% to $1.24 for the three months ended June 30, 2005 compared with $1.04 per diluted share for the same period a year earlier. For the six months ended June 30, 2005, net income increased 29% to a record $126 million compared with $97.8 million for the same period a year earlier. Earnings per diluted share rose 28% to a record $2.39 for the six months ended June 30, 2005 compared with $1.86 for the same period a year ago.

“Our record second quarter performance reflects our superior growth in auto originations as well as our continued commitment to quality credit,” said Tom Wolfe, President of Westcorp. “Our double digit origination growth in our established western markets complemented by over 20% growth in our newer markets in the east demonstrates the portability of our business model across the country. In addition, our record credit performance is the result of our dramatic decrease in default rates and our increase in recovery rates, resulting in our credit losses being the lowest in 10 years.”

Annualized credit loss experience improved 58 basis points to 1.15% of average managed automobile contracts for the second quarter compared with 1.73% for the same period a year earlier. For the six months ended June 30, 2005, credit loss experience improved 59 basis points to 1.40% compared with 1.99% for the same period a year earlier. The decrease in credit loss experience was a result of the annualized default rate decreasing to 3.4% for the quarter compared to 4.3% a year ago, a 20% decrease. In addition, the total recovery rate improved 12% to 70.8% for the quarter

compared to 63.2% a year ago. The percentage of outstanding automobile contracts 30 days or more delinquent improved 41 basis points to 1.80% at June 30, 2005 compared with 2.21% a year ago.

Provision for credit losses declined to $37.7 million for the three months ended June 30, 2005, compared with $51.5 million for the same period a year earlier due to lower chargeoff experience. For the six months ended June 30, 2005, the provision for credit losses declined to $86.7 million compared with $114 million for the same period a year ago. At June 30, 2005, the allowance for credit losses totaled $319 million or 2.5% of loans receivable compared with $307 million or 2.7% at June 30, 2004.

Automobile contract purchases totaled $2.0 billion for the second quarter of 2005, a 21% increase from the same period a year earlier. For the six months ended June 30, 2005, automobile contract purchases totaled $3.8 billion, a 17% increase compared with $3.3 billion a year ago. As a result of higher contract originations, the Company’s portfolio of managed automobile contracts grew 11% to $12.3 billion at June 30, 2005, up from $11.1 billion a year earlier. Total average interest earning assets increased $1.3 billion to $16.1 billion for the second quarter, up from $14.8 billion for the same period a year ago. As a result, net interest income grew 9% to $214 million for the second quarter compared with $197 million for the same period a year earlier. Net interest margin was 4.95% for the second quarter compared with 5.02% for the same period a year ago. For the six months ended June 30, 2005, net interest income grew 10% to $431 million compared with $392 million for the same period a year earlier. Net interest margin was 5.11% for the six months ended June 30, 2005 compared with 5.03% for the same period a year ago.

Noninterest income decreased to $19.6 million for the three months ended June 30, 2005 compared with $27.6 million for the same period a year earlier. For the six months ended June 30, 2005, noninterest income decreased to $38.9 million compared with $56.2 million for the same period a year ago. Noninterest income was reduced by $16.5 million and $31.2 million of loan origination fees that were deferred during the three and six months ended June 30, 2005, respectively. Noninterest expense increased to $74.1 million or 32% of total revenues for the second quarter compared with $73.6 million or 33% of total revenues for the same period a year earlier. For the six months ended June 30, 2005, noninterest expense increased to $147 million or 31% of total revenues compared with $145 million or 32% of total revenues a year ago. Noninterest expense was reduced by $7.0 million and $13.4 million of direct origination costs that were deferred during the three and six months ended June 30, 2005, respectively. Historically, the Company performed analysis on the fees and direct costs related to its origination of automobile loans and elected not to defer and amortize such

amounts as the net effect was not material to its financial statements in accordance with Statement of Financial Accounting Standard No. 91 and SEC Staff Accounting Bulletin No. 99. Due to continuing improvements in operating efficiencies and the higher amount of documentation fees earned, the difference between the amount of fees received and the direct costs incurred has gradually increased. The Company decided to defer and amortize these amounts prospectively beginning last quarter. These deferred amounts are being amortized to interest income using the interest method.

The Company continued to maintain a favorable deposit mix in 2005, consistent with its shift from certificates of deposit to lower cost demand deposit and money market accounts. Total demand deposit and money market accounts increased $245 million, or 20%, to $1.5 billion at June 30, 2005 compared with $1.2 billion a year ago and represented 64% of total deposits. The weighted average interest cost of deposits (excluding the effects of hedging) increased to 2.22% for the second quarter compared with 1.20% for the same period a year earlier.

The Company did not issue automobile receivable asset-backed securities during the quarter in an effort to improve the pricing and lower the costs of these transactions. The Company continues to be the largest non-captive issuer of automobile asset-backed securities in the U.S. having issued a total of $43 billion of such securities in 67 transactions to date.

As previously announced, the Company is continuing the process of pursuing the conversion of Western Financial Bank to a California state commercial bank and merging WFS Financial into Western Financial Bank as part of the acquisition of the minority interest in WFS Financial. The conversion is contingent upon approval by the Board of Governors of the Federal Reserve of the Company’s application to become a bank holding company. The merger is contingent on the conversion to a commercial bank and remains subject to approval by the majority of WFS Financial’s minority shareholders. The approval process for the conversion is taking longer than originally expected, and the Company is currently exploring other alternatives in the event that the proposed conversion and related merger cannot go forward as planned.

Earnings Conference Call

Westcorp, along with its subsidiary, WFS Financial, will host a conference call for analysts and investors at 8:00 a.m. (PDT) on Wednesday, July 27, 2005. As part of this conference call, the Company’s management will discuss earnings results for the quarter. For a live Internet broadcast of this conference call, please go to the Company’s web site at http://www.westcorpinc.com to register, download, and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available at the Company’s web site.

Westcorp is a financial services holding Company whose principal subsidiaries are WFS Financial Inc and Western Financial Bank. Westcorp is a publicly owned Company whose common stock is traded on the New York Stock Exchange under the symbol WES. Information about Westcorp can be found at its web site at http://www.westcorpinc.com

Westcorp, through its subsidiary, WFS Financial, is one of the nation’s largest independent automobile finance companies. WFS Financial specializes in originating, securitizing, and servicing new and pre-owned prime and non-prime credit quality automobile contracts through its nationwide relationships with automobile dealers. WFS Financial is a publicly owned Company whose common stock is traded on the Nasdaq under the symbol WFSI. Information about WFS Financial can be found at its web site at http://www.wfsfinancial.com.

Westcorp, through its subsidiary, Western Financial Bank, operates retail bank branches and provides commercial banking services in Southern California. Information on the products and services offered by the Bank can be found at its web site at http://www.wfb.com.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended. Forward-looking statements are identified by the use of terms and phrases such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will,” and similar terms and phrases, including references to assumptions. Forward-looking statements in this press release relate to analyses and other information, which are based on forecasts of future results and estimates of amounts not yet determinable. In addition, these statements relate to the Company’s future prospects, developments and business strategies and include information regarding the Company’s improved credit quality trends and higher automobile origination growth.

These statements are subject to uncertainties and factors relating to the Company’s operations and business environment, all of which are difficult to predict and many of which are beyond its control that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements. In particular, there can be no assurances that improved credit quality trends or origination growth identified in this press release will continue in future periods.

The following factors are among those that may cause actual results to differ materially from the forward-looking statements: changes in general economic and business conditions; interest rate fluctuations, including the effect of hedging activities; the Company’s financial condition and liquidity,

as well as future cash flow and earnings and the level of operating expenses; competition; the effect, interpretation, or application of new or existing laws, regulations, court decisions and significant litigation; the exercise of discretionary authority by regulatory agencies; a decision to change the Company’s corporate structure; the availability of sources of funding; and the level of chargeoffs on the automobile contracts that the Company originates.

A further list of these risks, uncertainties and other matters can be found in the Company’s filings with the Securities and Exchange Commission. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, the Company’s actual results may vary materially from those expected, estimated or projected. The information contained in this press release is as of July 26, 2005. The Company assumes no obligation to update any forward-looking statements to reflect future events or circumstances.

WESTCORP AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)

	For the Three Months EndedJune 30,				For the Six Months EndedJune 30,
	2005		2004		2005		2004
	(Dollars in thousands, except share and per share amounts)
Interest income:
Loans, including fees	$	307,929	$	285,893	$	609,544	$	572,193
Mortgage-backed securities		27,516		22,150		54,652		46,838
Investment securities		1,210		1,122		2,348		2,180
Other		6,063		1,818		10,210		3,431
TOTAL INTEREST INCOME		342,718		310,983		676,754		624,642
Interest expense:
Deposits		21,479		13,884		37,989		27,191
Notes payable on automobile secured financing		93,043		88,591		180,527		182,809
Other		13,946		11,360		27,061		23,071
TOTAL INTEREST EXPENSE		128,468		113,835		245,577		233,071
NET INTEREST INCOME		214,250		197,148		431,177		391,571
Provision for credit losses		37,699		51,539		86,677		113,834
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES		176,551		145,609		344,500		277,737
Noninterest income:
Automobile lending		14,709		25,067		30,040		50,815
Insurance income		2,150		1,690		4,195		3,514
Mortgage banking		60		249		177		484
Other		2,656		548		4,456		1,431
TOTAL NONINTEREST INCOME		19,575		27,554		38,868		56,244
Noninterest expense:
Salaries and associate benefits		43,151		45,369		86,937		87,453
Credit and collections		8,021		7,710		16,588		16,302
Data processing		4,866		4,082		9,488		8,261
Occupancy		3,902		3,851		7,837		7,727
Other		14,153		12,623		25,833		25,291
TOTAL NONINTEREST EXPENSE		74,093		73,635		146,683		145,034
INCOME BEFORE INCOME TAX		122,033		99,528		236,685		188,947
Income tax		47,099		39,725		92,738		75,039
INCOME BEFORE MINORITY INTEREST		74,934		59,803		143,947		113,908
Minority interest in earnings of subsidiaries		9,616		5,388		17,947		16,129
NET INCOME	$	65,318	$	54,415	$	126,000	$	97,779
Net income per common share:
Basic	$	1.25	$	1.05	$	2.42	$	1.89
Diluted	$	1.24	$	1.04	$	2.39	$	1.86
Weighted average number of common shares outstanding:
Basic		52,080,837		51,823,013		52,019,699		51,780,338
Diluted		52,680,870		52,483,220		52,641,796		52,531,365
Dividends declared	$	0.15	$	0.14	$	0.30	$	0.28

WESTCORP AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

	(Unaudited)
	June 30, 2005			December 31, 2004
	(Dollars in thousands)
ASSETS
Cash	$	120,780		$	89,333
Interest bearing deposits with other financial institutions		2,629			4,177
Other short-term investments		275,000			125,000
Cash and due from banks		398,409			218,510
Restricted cash		494,374			417,833
Investment securities available for sale		180,410			119,811
Mortgage-backed securities available for sale		2,643,222			2,649,758
Loans receivable		12,819,403			12,135,748
Allowance for credit losses		(318,776	)		(315,402	)
Loans receivable, net		12,500,627			11,820,346
Interest receivable		82,925			79,825
Premises and equipment, net		74,536			76,526
Other assets		169,731			162,731
TOTAL ASSETS	$	16,544,234		$	15,545,340
LIABILITIES
Deposits	$	2,262,888		$	2,183,499
Notes payable on automobile secured financing		10,212,648			10,242,900
Federal Home Loan Bank advances		1,910,463			1,139,521
Subordinated debentures		295,856			295,321
Other liabilities		215,322			178,939
TOTAL LIABILITIES		14,897,177			14,040,180
Minority interest		185,197			165,484
SHAREHOLDERS’ EQUITY
Common stock (par value $1.00 per share; authorized 65,000,000 shares; issued and outstanding 52,154,159 shares at June 30, 2005 and 51,895,258 shares at December 31, 2004)		52,154			51,895
Paid-in capital		722,487			717,098
Retained earnings		717,910			606,987
Accumulated other comprehensive loss, net of tax		(30,691	)		(36,304	)
TOTAL SHAREHOLDERS’ EQUITY		1,461,860			1,339,676
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	16,544,234		$	15,545,340

The following table presents information relative to the average balances and interest rates on an owned basis for the periods indicated:

						For the Three Months Ended
	June 30,
	2005								2004
	Average					Yield/			Average				Yield/
	Balance		Interest			Rate			Balance		Interest		Rate
						(Dollars in thousands)
Interest earning assets:
Total investments:
Mortgage-backed securities	$	2,591,591	$	27,516			4.25	%	$	2,574,744	$	22,150		3.44	%
Other short-term investments		799,736		6,001			3.01			663,896		1,809		1.10
Investment securities		131,525		1,210			3.68			129,367		1,122		3.47
Interest earning deposits with others		44,571		62			0.55			5,530		9		0.64
Total investments		3,567,423		34,789			3.90			3,373,537		25,090		2.97
Total loans: (1)					��
Consumer loans		12,213,059		303,013			9.95			11,133,553		281,775		10.18
Mortgage loans		158,586		2,210			5.57			210,156		2,623		4.99
Commercial loans		141,989		2,283			6.36			103,042		1,440		5.53
Construction loans		25,512		423			6.57			5,268		55		4.09
Total loans		12,539,146		307,929			9.85			11,452,019		285,893		10.04
Total interest earning assets	$	16,106,569		342,718			8.53		$	14,825,556		310,983		8.43
Interest bearing liabilities:
Deposits	$	2,222,714		21,479			3.88		$	2,089,287		13,884		2.67
FHLB advances and other borrowings		833,261		6,459			3.07			656,979		1,871		1.13
Notes payable on automobile secured financing		11,015,549		93,043			3.38			10,247,231		88,591		3.46
Subordinated debentures		295,680		7,487			10.13			381,199		9,489		9.96
Total interest bearing liabilities	$	14,367,204		128,468			3.58		$	13,374,696		113,835		3.41
Net interest income and interest rate spread			$	214,250			4.95	%			$	197,148		5.02	%
Net yield on average interest earning assets							5.34	%						5.34	%

(1) For the purpose of these computations, nonaccruing loans are included in the average amounts outstanding.

					For the Six Months Ended
					June 30,
	2005							2004
	Average				Yield/			Average				Yield/
	Balance		Interest		Rate			Balance		Interest		Rate
					(Dollars in thousands)
Interest earning assets:
Total investments:
Mortgage-backed securities	$	2,594,038	$	54,652		4.21	%	$	2,584,929	$	46,838		3.62	%
Other short-term investments		725,022		10,121		2.82			627,153		3,413		1.09
Investment securities		131,720		2,348		3.57			127,272		2,180		3.43
Interest earning deposits with others		40,356		89		0.44			5,775		18		0.63
Total investments		3,491,136		67,210		3.85			3,345,129		52,449		3.14
Total loans: (1)
Consumer loans		12,055,546		599,502		10.03			11,021,138		563,816		10.29
Mortgage loans		165,950		4,479		5.40			219,768		5,527		5.03
Commercial loans		155,653	��	4,811		6.15			101,165		2,743		5.36
Construction loans		23,493		752		6.36			4,753		107		4.43
Total loans		12,400,642		609,544		9.91			11,346,824		572,193		10.14
Total interest earning assets	$	15,891,778		676,754		8.58		$	14,691,953		624,642		8.55
Interest bearing liabilities:
Deposits	$	2,177,384		37,989		3.52	%	$	1,998,031		27,191		2.74
Securities sold under agreements to repurchase									16,885		94		1.10
FHLB advances and other borrowings		855,288		12,088		2.81			657,877		3,703		1.11
Notes payable on automobile secured financing		10,854,240		180,527		3.33			10,205,685		182,809		3.58
Subordinated debentures		295,547		14,973		10.13			387,434		19,274		9.95
Total interest bearing liabilities	$	14,182,459		245,577		3.47		$	13,265,912		233,071		3.52
Net interest income and interest rate spread			$	431,177		5.11	%			$	391,571		5.03	%
Net yield on average interest earning assets						5.49	%						5.36	%

(1) For the purpose of these computations, nonaccruing loans are included in the average amounts outstanding.

WESTCORP AND SUBSIDIARIES
OTHER FINANCIAL DATA AND STATISTICAL SUMMARY

	Q2 2005			Q1 2005			Q4 2004			Q3 2004			Q2 2004
	(Dollars in thousands, except per share amounts)
Earnings:
Net interest income	$	214,250		$	216,927		$	209,949		$	206,238		$	197,148
Provision for credit losses		37,699			48,978			61,078			60,337			51,539
Noninterest income		19,575			19,293			29,851			30,027			27,554
Noninterest expense		74,093			72,590			75,626			74,946			73,635
Income before taxes		122,033			114,652			103,096			100,982			99,528
Income taxes		47,099			45,639			40,571			40,188			39,725
Net income	$	65,318		$	60,682		$	55,510		$	54,672		$	54,415
Equity:
Earning per share — basic	$	1.25		$	1.17		$	1.07		$	1.05		$	1.05
Earning per share — diluted	$	1.24		$	1.15		$	1.06		$	1.04		$	1.04
Dividends per share	$	0.15		$	0.15		$	0.14		$	0.14		$	0.14
Book value per share (period end) (1)	$	28.62		$	27.52		$	26.51		$	25.55		$	24.63
Stock price per share (period end)	$	52.42		$	42.25		$	45.93		$	42.52		$	45.45
Total equity to assets (2)		10.14	%		9.95	%		9.92	%		9.66	%		9.52	%
Return on average equity (1)		17.88	%		17.31	%		16.45	%		16.82	%		17.36	%
Average shares outstanding — diluted		52,680,870			52,597,731			52,573,953			52,510,834			52,483,220
Loan Portfolio:
Automobile contracts purchased	$	2,013,622		$	1,782,414		$	1,583,748		$	1,799,106		$	1,666,842
Automobile contracts managed (period end)	$	12,307,454		$	11,852,222		$	11,560,890		$	11,440,353		$	11,113,148
Number of accounts managed (period end)		919,722			895,377			876,695			869,038			853,193
Average automobile contracts managed	$	12,019,325		$	11,702,544		$	11,512,626		$	11,268,695		$	10,946,273
Credit Quality:
Delinquency rate (30+ days)		1.80	%		1.53	%		2.24	%		2.24	%		2.21	%
Repossessions to total contracts		0.05	%		0.05	%		0.07	%		0.06	%		0.06	%
Net chargeoffs (annualized)		1.15	%		1.66	%		2.01	%		1.95	%		1.73	%
Allowance to loans receivable		2.49	%		2.56	%		2.60	%		2.62	%		2.66	%
Operations:
Total assets	$	16,544,234		$	16,156,288		$	15,545,340		$	15,351,999		$	14,999,112
Noninterest expense to total revenues		31.69	%		30.73	%		31.54	%		31.72	%		32.77	%

(1)	Excludes other comprehensive income
(2)	Excludes other comprehensive income and includes minority interest

WESTCORP AND SUBSIDIARIES
CUMULATIVE STATIC POOL LOSS CURVES (UNAUDITED)
At June 30, 2005

     The following table sets forth the cumulative static pool losses by month for all outstanding public securitized pools:

Period (1)	2001-C			2002-1			2002-2			2002-3			2002-4			2003-1			2003-2			2003-3			2003-4			2004-1			2004-2			2004-3			2004-4			2005-1			2005-2
1		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%		0.00	%
2		0.04	%		0.01	%		0.00	%		0.02	%		0.02	%		0.01	%		0.00	%		0.00	%		0.01	%		0.00	%		0.00	%		0.02	%		0.00	%		0.00	%		0.00	%
3		0.09	%		0.06	%		0.03	%		0.06	%		0.07	%		0.04	%		0.02	%		0.02	%		0.03	%		0.02	%		0.03	%		0.06	%		0.04	%		0.02	%		0.02	%
4		0.20	%		0.15	%		0.10	%		0.14	%		0.16	%		0.11	%		0.06	%		0.06	%		0.08	%		0.06	%		0.07	%		0.13	%		0.09	%		0.06	%		0.07	%
5		0.35	%		0.29	%		0.18	%		0.27	%		0.26	%		0.18	%		0.14	%		0.13	%		0.14	%		0.11	%		0.15	%		0.21	%		0.15	%		0.13	%
6		0.49	%		0.43	%		0.32	%		0.44	%		0.38	%		0.29	%		0.25	%		0.23	%		0.21	%		0.19	%		0.24	%		0.30	%		0.23	%		0.20	%
7		0.65	%		0.60	%		0.49	%		0.57	%		0.50	%		0.41	%		0.36	%		0.32	%		0.28	%		0.27	%		0.33	%		0.40	%		0.30	%
8		0.81	%		0.84	%		0.66	%		0.70	%		0.61	%		0.53	%		0.48	%		0.40	%		0.35	%		0.34	%		0.41	%		0.50	%		0.37	%
9		0.95	%		1.06	%		0.82	%		0.82	%		0.78	%		0.66	%		0.59	%		0.47	%		0.44	%		0.42	%		0.51	%		0.56	%		0.45	%
10		1.07	%		1.28	%		0.96	%		0.96	%		0.94	%		0.80	%		0.70	%		0.55	%		0.54	%		0.52	%		0.59	%		0.64	%
11		1.20	%		1.48	%		1.10	%		1.10	%		1.08	%		0.93	%		0.80	%		0.62	%		0.61	%		0.59	%		0.65	%		0.69	%
12		1.37	%		1.67	%		1.26	%		1.24	%		1.28	%		1.06	%		0.89	%		0.71	%		0.73	%		0.67	%		0.70	%
13		1.55	%		1.82	%		1.39	%		1.38	%		1.43	%		1.21	%		0.98	%		0.80	%		0.83	%		0.75	%		0.76	%
14		1.74	%		1.99	%		1.51	%		1.53	%		1.59	%		1.31	%		1.08	%		0.88	%		0.93	%		0.81	%		0.83	%
15		1.97	%		2.14	%		1.68	%		1.70	%		1.77	%		1.40	%		1.20	%		0.97	%		1.03	%		0.88	%
16		2.16	%		2.27	%		1.83	%		1.88	%		1.92	%		1.50	%		1.31	%		1.07	%		1.09	%		0.93	%
17		2.36	%		2.45	%		1.99	%		2.03	%		2.05	%		1.60	%		1.41	%		1.16	%		1.19	%		1.00	%
18		2.59	%		2.62	%		2.16	%		2.15	%		2.16	%		1.70	%		1.53	%		1.25	%		1.24	%
19		2.78	%		2.80	%		2.31	%		2.28	%		2.25	%		1.85	%		1.66	%		1.33	%		1.30	%
20		2.95	%		2.99	%		2.46	%		2.41	%		2.37	%		1.99	%		1.76	%		1.40	%		1.36	%
21		3.14	%		3.15	%		2.60	%		2.52	%		2.49	%		2.14	%		1.87	%		1.45	%
22		3.29	%		3.31	%		2.72	%		2.62	%		2.62	%		2.27	%		1.95	%		1.50	%
23		3.41	%		3.45	%		2.86	%		2.74	%		2.73	%		2.37	%		2.02	%		1.57	%
24		3.57	%		3.58	%		2.95	%		2.83	%		2.84	%		2.47	%		2.09	%
25		3.73	%		3.69	%		3.03	%		2.96	%		2.95	%		2.57	%		2.16	%
26		3.88	%		3.80	%		3.13	%		3.08	%		3.06	%		2.63	%		2.21	%
27		4.04	%		3.92	%		3.22	%		3.21	%		3.17	%		2.68	%
28		4.20	%		4.02	%		3.33	%		3.31	%		3.25	%		2.73	%
29		4.35	%		4.12	%		3.41	%		3.41	%		3.32	%		2.78	%
30		4.46	%		4.22	%		3.50	%		3.48	%		3.38	%
31		4.57	%		4.30	%		3.58	%		3.56	%		3.43	%
32		4.69	%		4.39	%		3.66	%		3.62	%		3.48	%
33		4.77	%		4.49	%		3.73	%		3.67	%
34		4.85	%		4.56	%		3.78	%		3.71	%
35		4.92	%		4.63	%		3.84	%		3.74	%
36		5.01	%		4.69	%		3.86	%
37		5.09	%		4.74	%		3.90	%
38		5.16	%		4.77	%		3.93	%
39		5.22	%		4.80	%
40		5.27	%		4.84	%
41		5.32	%
42		5.38	%
43		5.42	%
44		5.46	%
45		5.48	%
46		5.49	%
47		5.51	%
Prime Mix (2)		76	%		70	%		87	%		85	%		80	%		80	%		82	%		84	%		82	%		82	%		82	%		81	%		78	%		78	%		77	%

(1)	Represents the number of months since inception of the securitization.
(2)	Represents the original percentage of prime automobile contracts securitized within each pool.