SERVICER'S CERTIFICATE
Collection Period: November, 2004
Distribution Date: December 15, 2004
Hyundai Auto Receivables Trust 2004-A
The undersigned certifies that he is the Vice President, Finance, of
Hyundai Motor Finance Company, a California corporation ("HMFC") and that as
such he is duly authorized to execute and deliver this certificate on behalf of
HMFC pursuant to Section 4.09 of the Sales and Servicing Agreement dated
September 1, 2004, among HMFC, as Seller and Servicer, Citibank N.A., as
Indenture Trustee, Hyundai ABS Funding Corporation, as the Depositor and, the
Hyundai Auto Receivables Trust 2004-A, as Issuer (the "Sales and Servicing
Agreement") (all capitalized terms used herein without definition have the
respective meanings specified in the Sales and Servicing Agreement) and further
certifies that:
1. The Servicer's report for the period from November 1, 2004, to
November 30, 2004, attached to this certificate is complete and
accurate and contains all information required by Section 4.09 of the
Sales and Servicing Agreement; and
2. As of November 30, 2004, no Event of Servicing Termination or event
that with notice or lapse of time or both would become an Event of
Servicing Termination has occurred.
IN WITNESS WHEREOF, I have affixed hereunto my signature this 10th day of
December 2004.
HYUNDAI MOTOR FINANCE COMPANY, as Servicer
a California corporation
By: /s/ David A. Hoeller
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David A. Hoeller
Vice President, Finance
Hyundai Auto Receivables Trust 2004-A
Monthly Servicing Report
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Collection Period November, 2004
Distribution Date 12/15/04
Transaction Month 3
30/360 Days 30
Actual/360 Days 30
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I. ORIGINAL DEAL PARAMETERS
Cut off Date: July 31, 2004
Closing Date: September 1, 2004
Dollars Units WAC WAM
--------------- ------ ----- -----
Original Pool Balance: $807,850,711.24 48,534 7.060% 58.76
Dollar Amount % of Pool Coupon Rate Final Payment Date
--------------- --------- ----------- ------------------
Class A-1 Notes $155,000,000.00 19.167% 1.78125% September 15, 2005
Class A-2 Notes $215,000,000.00 26.594% 2.36000% September 15, 2007
Class A-3 Notes $188,000,000.00 23.252% 2.97000% May 15, 2009
Class A-4 Notes $ 92,100,000.00 11.381% 3.54000% August 15, 2011
Class B Notes $ 36,500,000.00 4.498% 3.46000% August 15, 2011
Class C Notes $ 26,900,000.00 3.310% 3.36000% August 15, 2011
Class D Notes $ 32,800,000.00 4.040% 4.10000% August 15, 2011
--------------- ------
Total Securities $746,300,000.00 92.241%
Overcollateralization $ 23,043,718.45 2.995%
YSOA $ 38,506,992.79 4.767%
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Total Original Pool Balance $807,850,711.24 100.00%
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II. POOL BALANCE AND PORTFOLIO INFORMATION
Beginning of Period Ending of Period Change
----------------------------- ----------------------------- --------------
Balance Pool Factor Balance Pool Factor
--------------- ----------- --------------- -----------
Class A-1 Notes $ 93,137,561.88 0.6008875 $ 71,289,466.32 0.4599320 $21,848,095.56
Class A-2 Notes $215,000,000.00 1.0000000 $215,000,000.00 1.0000000 $ --
Class A-3 Notes $188,000,000.00 1.0000000 $188,000,000.00 1.0000000 $ --
Class A-4 Notes $ 92,100,000.00 1.0000000 $ 92,100,000.00 1.0000000 $ --
Class B Notes $ 36,500,000.00 1.0000000 $ 36,500,000.00 1.0000000 $ --
Class C Notes $ 26,900,000.00 1.0000000 $ 26,900,000.00 1.0000000 $ --
Class D Notes $ 32,800,000.00 1.0000000 $ 32,800,000.00 1.0000000 $ --
--------------- --------- --------------- --------- --------------
Total Securities $684,437,561.88 0.9171078 $662,589,466.32 0.8878326 $21,848,095.56
Weighted Avg. Coupon (WAC) 7.05% 7.03%
Weighted Avg. Remaining Maturity (WARM) 55.94 54.98
Pool Receivables Balance $753,072,191.26 $732,230,539.59
Remaining Number of Receivables 47,275 46,659
Adjusted Pool Balance $717,182,408.45 $697,617,415.45
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III. COLLECTIONS
Principal:
Principal Collections $19,621,341.75
Repurchased Contract Proceeds Related to Principal $ --
Liquidation Proceeds $ --
Recoveries from Prior Month Charge-Offs $ 39,779.74
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Total Principal Collections $19,661,121.49
Interest:
Interest Collections $ 4,327,284.15
Late Fees & Other Charges $ 69,802.63
Interest on Repurchase Principal $ --
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Total Interest Collections $ 4,397,086.78
Collection Account Interest $ 26,176.51
Reserve Account Interest $ 8,155.19
Total Collections $24,066,363.46
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Hyundai Auto Receivables Trust 2004-A
Monthly Servicing Report
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Collection Period November, 2004
Distribution Date 12/15/04
Transaction Month 3
30/360 Days 30
Actual/360 Days 30
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IV. DISTRIBUTIONS
Total Collections $24,066,363.46
Reserve Account Release $ --
Reserve Account Draw $ --
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Total Available for Distribution $24,066,363.46
Amount Due Amount Paid
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1. Servicing Fee @1.00%:
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Servicing Fee Due $ 627,560.16 $ 627,560.16 $ 627,560.16
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Collection Account Interest $ 26,176.51
Late Fees & Other Charges $ 69,802.63
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Total due to Servicer $ 723,539.30
2. Class A Noteholders Interest:
Class A-1 Notes $ 138,251.07 $ 138,251.07
Class A-2 Notes $ 422,833.33 $ 422,833.33
Class A-3 Notes $ 465,300.00 $ 465,300.00
Class A-4 Notes $ 271,695.00 $ 271,695.00
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Total Class A interest: $ 1,298,079.40 $ 1,298,079.40 $ 1,298,079.40
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3. First Priority Principal Distribution: $ -- $ -- $ --
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4. Class B Noteholders Interest: $ 105,241.67 $ 105,241.67 $ 105,241.67
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5. Second Priority Principal Distribution: $ -- $ -- $ --
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6. Class C Noteholders Interest: $ 75,320.00 $ 75,320.00 $ 75,320.00
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7. Third Priority Principal Distribution: $ -- $ -- $ --
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8. Class D Noteholders Interest: $ 112,066.67 $ 112,066.67 $ 112,066.67
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Available Funds Remaining: $21,848,095.56
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9. Regular Principal Distribution Amount: $21,848,095.56
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Distributable
Amount Paid Amount
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Class A-1 Notes $21,848,095.56
Class A-2 Notes $ --
Class A-3 Notes $ --
Class A-4 Notes $ --
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Class A Notes Total: $156,738,271.70 $21,848,095.56
Class B Notes Total: $ 61,436,307.99 $ --
Class C Notes Total: $ 63,405,778.36 $ --
Class D Notes Total: $ 21,987,540.37 $ --
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Total Noteholders Principal $21,848,095.56
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10. Available Amounts Remaining to reserve account $ --
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11. Trust Fees and Expenses $ --
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12. Remaining Available Collections Released to Cetificateholder $ --
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V. YIELD SUPPLEMENT OVERCOLLATERALIZATION AMOUNT (YSOA)
Beginning Period Required Amount $35,889,782.81
Beginning Period Amount $35,889,782.81
Current Period Amortization $ 1,276,658.67
Ending Period Required Amount $34,613,124.14
Ending Period Amount $34,613,124.14
Next Distribution Date Required Amount $33,357,925.68
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Hyundai Auto Receivables Trust 2004-A
Monthly Servicing Report
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Collection Period November, 2004
Distribution Date 12/15/04
Transaction Month 3
30/360 Days 30
Actual/360 Days 30
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VI. RESERVE ACCOUNT
Beginning Period Required Amount $ 5,770,077.89
Beginning Period Amount $ 5,770,077.89
Current Period Release to Collection
Account $ --
Current Period Deposit $ --
Current Period Release to Depositor $ --
Ending Period Required Amount (0.75% of
APB of cut-off date) $ 5,770,077.89
Ending Period Amount $ 5,770,077.89
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VII. OVERCOLLATERALIZATION
Beginning Ending Target
-------------- -------------- ---------------
Overcollateralization Amount $32,744,846.57 $35,027,949.13 $ 57,015,489.50
Overcollateralization as a % of
Original Pool 4.05% 4.34% 7.06%
Overcollateralization as a % of
Current Pool 4.47% 4.78% 7.79%
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VIII. DELINQUENCY AND NET LOSS ACTIVITY
Units Percent Units Dollars Percent Dollar Amount
------------- ------ --------------- ---------------
Current 97.34% 45,418 97.57% $714,425,803.02
30 - 59 Days 1.99% 930 1.88% $ 13,757,328.87
60 - 89 Days 0.48% 223 0.40% $ 2,956,315.89
90 + Days 0.19% 88 0.15% $ 1,091,091.81
----- ------ ----- ---------------
Total 46,659 $732,230,539.59
Delinquent Receivables 60 + days past due 0.67% 311 0.55% $ 4,047,407.70
Delinquency Ratio 60+ for 1st Preceding
Collection Period 0.63% 297 0.56% $ 4,227,043.31
Delinquency Ratio 60+ for 2nd Preceding
Collection Period 0.47% 222 0.40% $ 3,076,063.63
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Three-Month Average Delinquency Ratio 0.59% 0.50%
Repossession in Current Period 142
Repossession Inventory 158
Charge-Offs
Gross Principal of Charge-Off for
Current Period $ 1,220,309.92
Recoveries for Current Period $ --
Recoveries on Previous Charge-off
Contracts $ (39,779.74)
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Net Charge-offs for Current Period $ 1,180,530.18
Average Pool Balance for Current
Period $742,651,365.43
Net Loss Ratio 1.91%
Net Loss Ratio for 1st Preceding
Collection Period 0.65%
Net Loss Ratio for 2nd Preceding
Collection Period 0.36%
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Three-Month Average Net Loss Ratio for
Current Period 0.97%
Cumulative Net Losses for All Periods $ 1,829,222.89
Cumulative Net Losses as a % of Initial
Pool Balance 0.23%
The undersigned hereby represents and warrants that the foregoing is a true and
accurate accounting with respect to the outstandings as of November 30, 2004, in
accordance with the Sale and Servicing Agreement dated as of September 1, 2004,
and that all the representations and warranties set forth in Section 3.01 and
made by HMFC, as Seller, are hereby restated and reaffirmed.
HYUNDAI MOTOR FINANCE COMPANY, AS SERVICER
By: /s/ David A. Hoeller
--------------------------------------
Name: David A. Hoeller
Title: Vice President, Finance
Date: December 14, 2004
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