Exhibit 99.1
Nissan Motor Acceptance Corporation
Monthly Servicing Report -- Nissan Auto Receivables 1997-A Grantor Trust
November 01, 1997 through November 30, 1997
A. ORIGINAL DEAL PARAMETER INPUTS
(A) Original Total Portfolio $ 868,465,033.86
(B) Class A Certificate Ownership Interest of the Trust 87.00%
(C) Original Class A Certificate Balance $ 755,564,579.46
(D) Class A Certificate Rate 6.15%
(E) Original Class B Certificate Balance $ 112,900,454.40
(F) Class B Certificate Rate 6.15%
(G) Servicing Fee Rate 1.00%
(H) Original Weighted Average Coupon (WAC) 10.26%
(I) Original Weighted Average Remaining Term (WAM) 40.81 months
(J) Number of Contracts 79,532
(K) Class A Subordination Spread Account ("SSA")
(i) Subordination Initial Deposit Percentage 1.00%
(ii) Subordination Initial Deposit $ 8,684,650.34
(iii) Specified SSA Balance Percent 1.50%
(iv) Specified SSA Balance $ 13,026,975.51
(v) Floor Percent 2.50%
(vi) Floor Amount $ 21,711,625.85
(vii) Floor Trigger Amount $ 113,334,686.85
(L) Yield Supplement Reserve Account Initial Deposit $ 1,898,666.90
B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS
(A) Total Portfolio Outstanding $ 807,926,542.20
(B) Total Portfolio Pool Factor 0.9302925
(C) Class A Certificate Balance $ 702,896,091.71
(D) Class A Certificate Factor 0.9302925
(E) Class B Certificate Balance $ 105,030,450.49
(F) Class A Pool Factor 0.8093545
(G) Subordination Spread Account Balance $ 13,026,975.51
(H) Yield Supplement Reserve Account Balance $ 1,699,093.63
(I) Outstanding Interest Advance $ 848,123.83
(J) Cumulative Net Losses for All Prior Periods 276,266.77
(K) Weighted Average Coupon of Remaining Portfolio (WAC) 10.27%
(L) Weighted Average Remaining Term of Remaining Portfolio 39.20 months
(M) Number of Contracts 77,127
C. INPUTS FROM THE MAINFRAME
(A) Simple Interest Loans
(i) Principal Payments Received $ 32,775,134.28
(ii) Interest Payments Received $ 7,229,466.60
(iii) Repurchased Loan Principal $ 0.00
(iv) Repurchased Loan Interest $ 0.00
(B) Yield Supplement Release to Collection Account $ 89,668.35
(C) Yield Supplement Release to Seller $ 24,387.30
(D) Reimbursement of Previous Interest Advance $ 848,123.83
(E) Current Interest Advance Amount $ 465,614.84
(F) Weighted Average Coupon of Remaining Portfolio (WAC) 10.27%
(G) Weighted Average Remaining Maturity of Remaining Portfolio 38.28 months
(H) Remaining Number of Contracts 75,494
(I) Delinquent Contracts Contracts Amount
(i) 31-60 Days Delinquent 2,486 3.29% $26,548,515.84 3.44%
(ii) 61-90 Days Delinquent 330 0.44% $3,582,632.37 0.46%
(iii) 91 Days or More Delinquent 46 0.06% 549,063.07 0.07%
D. INPUTS DERIVED FROM OTHER SOURCES
(A) Collection Account Investment Income --
Paid to Seller $ 124,251.81
(B) Class A Subordination Spread Account Investment Income --
Paid to Seller $ 47,245.08
(C) Yield Supplement Reserve Account Investment Income --
Paid to Seller $ 6,491.59
(D) Aggregate Net Losses for Collection Period $ 1,487,008.91
(E) Liquidated Contracts
(i) Gross Principal Balance of Liquidated Receivables $ 2,414,377.06
(ii) Net Liquidation Proceeds & Recoveries Received
During the Collection Period $ 927,368.15
(F) Number of Vehicles Repossessed During the Collection 235
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Nissan Motor Acceptance Corporation
Monthly Servicing Report -- Nissan Auto Receivables 1997-A Grantor Trust
November 01, 1997 through November 30, 1997
I. COLLECTIONS
(A) Principal Payments Received (C(A)i) $ 32,775,134.28
(B) Interest Payments Received (C(A)ii) $ 7,229,466.60
(C) Aggregate Net Liquidation Proceeds Received (D(E)ii) $ 927,368.15
(D) Principal on Repurchased Contracts (C(A)iii) $ 0.00
(E) Interest on Repurchased Contracts (C(A)iv) $ 0.00
(F) Yield Supplement Amount Payments (C(B)) $ 89,668.35
(G) Total Collections (A+B+C+D+E+F) $ 41,021,637.38
(H) Net Interest Advance Amount (C(E-D)) ($ 382,508.99)
(I) Total Available Amount (G+H) $ 40,639,128.39
II. DISTRIBUTIONS
(A) Principal Payments Received (C(A)i) $ 32,775,134.28
(B) Principal on Repurchased Contracts (C(A)iii) $ 0.00
(C) Gross Principal Balance of Liquidated Receivables (D(E)i) $ 2,414,377.06
(D) Total Principal Reduction (A+B+C) $ 35,189,511.34
(E) Class A Distributable Amount
(i) Class A Monthly Interest Payment (A(D)*B(C)/12) $ 3,602,342.47
(ii) Monthly Principal to Class A (II(D)*A(B)) $ 30,614,874.86
(iii) Total Distributable Amount (i+ii) $ 34,217,217.33
(F) Class B Distributable Amount
(i) Class B Monthly Interest Payment ((A(F)*B(E))/12) $ 538,281.06
(ii) Monthly Principal to Class B (II(D)-(E)ii) $ 4,574,636.48
(iii) Excess Collections (I(I)-(II(E)iii+(F)i+ii+(G)i)) $ 635,721.40
(iv) Total Distributable Amount (i+ii+iii) $ 5,748,638.94
(G) Required Distributions
(i) Servicing Fee (A(G)*B(A)) $ 673,272.12
(ii) Class A Amount (II(E)iii) $ 34,217,217.33
(iii) Deposit to Class A Subordination Spread Account
(If Positive (IV(G)-(A))) $ 0.00
(iv) Class B Amount (IV(F)i) $ 5,748,638.94
(v) Yield Supplement Account Release to Seller (V(C)) $ 24,387.30
(vi) Total Amount Distributed (i+ii+iii+iv+v) $ 40,663,515.69
(H) Amount of Draw from Class A SSA (IV(B)) $ 0.00
(I) Sum of Draw from SSA and Total Available Amount
(I(I)+IV(B)) $ 40,639,128.39
(J) Release from Yield Supplement Account to Seller (V(C)) $ 24,387.30
(K) Total Distributed Amount (I+J) $ 40,663,515.69
Class A Servicing Fee (II(G)i * A(B)) $ 585,746.74
III. POOL BALANCES AND PORTFOLIO INFORMATION
Beg. of Period End of Period
(A) Balances and Principal Factors
(i) Total Pool Balance $807,926,542.20 $ 772,737,030.86
(ii) Total Pool Factor 0.9302925 0.8897733
(iii) Class A Certificate Balance $702,896,091.71 $ 672,281,216.85
(iv) Class A Certificate Factor 0.9302925 0.8897733
(v) Class B Certificate Balance $105,030,450.49 $ 100,455,814.01
(vi) Class A Pool Factor 0.8093545 0.7741028
(B) Portfolio Information
(i) Weighted Average Coupon (WAC) 10.27% 10.27%
(ii) Weighted Average Remaining Maturity (WAM) 39.20 months 38.28 months
(iii) Remaining Number of Contracts 77,127 75,494
(C) Outstanding Interest Advance $ 848,123.83 $ 465,614.84
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Nissan Motor Acceptance Corporation
Monthly Servicing Report -- Nissan Auto Receivables 1997-A Grantor Trust
November 01, 1997 through November 30, 1997
IV. RECONCILIATION OF CLASS A SUBORDINATION SPREAD ACCOUNT ("SSA")
(A) Beginning Class A SSA Balance (B(G)) $ 13,026,975.51
(B) Draw for Class A Distributable Amount and Servicing Fee 0.00
(If Positive ((II(E)iii+(G)i)-I(I)))
(C) Amount Available for Deposit to the Class A SSA $ 5,748,638.94
(If Positive (I(I)-II(E)iii-(G)i))
(D) Class A SSA Balance Prior to Release (IV(A-B+C)) $ 18,775,614.45
(E) Class A Subordination Spread Account Required Amount $ 13,026,975.51
(Was Triger Hit?)
(F) Breakdown of Release to Class B Certificateholder
(i) Class B Amount (Min(II(F)iv,IV(F)iii)) $ 5,748,638.94
(ii) Release from Class A SSA (iii-i) $ 0.00
(iii) Total Distribution to Class B Certificateholder $ 5,748,638.94
(If Positive (D-E))
(G) Ending Class A Subordinate Spread Account Balance $ 13,026,975.51
(D-(F)iii)
V. RECONCILIATION OF YIELD SUPPLEMENT RESERVE ACCOUNT
(A) Beginning Yield Supplement Reserve Account Balance (B(H)) $ 1,699,093.63
(B) Release to Collection Account (C(B)) $ 89,668.35
(C) Release to Seller (C(C)) $ 24,387.30
(D) Ending Yield Supplement Reserve Account Balance (A-B-C) $ 1,585,037.98
VI. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
(A) Aggregate Net Losses for Collection Period (VI(B)i-ii) $ 1,487,008.91
(B) Liquidated Contracts
(i) Gross Principal Balance of Liquidated Receivables (D(F)i) $ 2,414,377.06
(ii) Net Liquidation Proceeds Received During the Collection $ 927,368.15
Period (D(F)ii)
(C) Cumulative Net Losses for all Periods (VI(A)+B(J)) $ 1,763,275.68
(D) Delinquent and Repossessed Contracts
Contracts Amount
(i) 31-60 Days Delinquent 2,486 3.29% $26,548,515.84 3.44%
(ii) 61-90 Days Delinquent 330 0.44% $ 3,582,632.37 0.46%
(iii) 91 Days or More Delinquent 46 0.06% $ 549,063.07 0.07%
(iv) Vehicles Repossessed During 235 0.30% #N/A #N/A
the Collection Period (D(F))
VII. TESTS FOR INCREASE IN CLASS A SUBORDINATION SPREAD ACCOUNT BALANCE
(A) Ratio of Net Losses to the Pool Balance as of Each Collection Period.
(i) Second Preceding Collection Period 0.00%
(ii) Preceding Collection Period 0.40%
(iii) Current Collection Period 2.21%
(iv) Three Month Average (Avg(i,ii,iii)) 0.87%
(B) Ratio of Number of Contracts Delinquent
60 Days or More to the Outstanding Number
of Receivables as of Each Collection Period
(i) Second Preceeding Collection Period 0.00%
(ii) Preceeding Collection Period 0.30%
(iii) Current Collection Period 0.49%
(iv) Three Month Average (Avg(i,ii,iii)) 0.26%
(C) Loss and Delinquency Trigger Indicator Trigger Was Not Hit
(i) Number of Months Three Month
Loss Average is Below Trigger 0
(ii) Number of Months Three Month Delinquency
Average is Below Trigger 0
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