AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 1997-A Grantor Trust
September 1, through September 30, 1999
A. ORIGINAL DEAL PARAMETER INPUTS
(A) Original Total Portfolio $1,080,049,608.67
(B) Class A Certificate Ownership Interest of the Trust 93.75%
(C) Original Class A Certificate Balance $1,012,546,508.13
(D) Class A Certificate Rate 5.85%
(E) Original Class B Certificate Balance $67,503,100.54
(F) Class B Certificate Rate 5.85%
(G) Servicing Fee Rate 1.00%
(H) Original Weighted Average Coupon (WAC) 7.59%
(I) Original Weighted Average Remaining Term (WAM) 42.14 months
(J) Number of Contracts 90,365
(K) Reserve Fund
(i) Reserve Fund Initial Deposit Percentage 0.15%
(ii) Reserve Fund Initial Deposit $1,620,074.41
(iii) Specified Reserve Fund Balance Percent 0.75%
(iv) Specified Reserve Fund Balance $8,100,372.07
(v) Reserve Fund Floor Percent 1.50%
(vi) Reserve Fund Floor Amount $16,200,744.13
(vii) Reserve Fund Floor Trigger Amount $324,014,882.40
(L) Original Yield Supplement Deposit $11,931,514.53
(M) Original Letter of Credit Amount $84,000,000.00
B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS
(A) Total Portfolio Outstanding 258,770,121.52
(B) Total Portfolio Pool Factor 0.2395910
(C) Class A Certificate Balance 242,596,988.92
(D) Class A Principal Factor 0.2395910
(E) Class B Certificate Balance $16,173,132.60
(F) Reserve Fund Balance 9,541,444.68
(G) Outstanding Interest Advance 791,500.86
(H) Payahead Account Balance 1,244,273.42
(I) Cumulative Net Losses for All Prior Periods 7,558,494.47
(J) Weighted Average Coupon of Remaining Portfolio (WAC) 8.12%
(K) Weighted Average Remaining Term of Remaining Portfolio (WAM) 21.91 months
(L) Number of Contracts 48,449
(M) Yield Supplement Balance 600,476.28
C. INPUTS FROM THE MAINFRAME
(A) Precomputed Contracts Principal
(i) Scheduled Principal Collections 3,962,084.92
(ii) Prepayments in Full 1,238,219.65
(iii) Prepayments in Full Due to Repurchases $0.00
(B) Precomputed Contracts Total Collections 5,692,481.75
(C) Simple Interest Contracts
(i) Collected Principal 14,560,689.15
(ii) Collected Interest 1,275,751.54
(iii) Repurchased Receivables Principal 0.00
(iv) Repurchased Receivables Interest 0.00
(D) Payment Advance for Precomputes
(i) Reimbursement of Previous Advances 225,693.58
(ii) Current Advance Amount 317,536.65
(E) Interest Advance for Simple Interest - Net (If positive, Additiona 0.00
(F) Payahead Account
(i) Payments Applied 296,700.34
(ii) Additional Payaheads 226,377.76
(G) Weighted Average Coupon of Remaining Portfolio (WAC) 8.17%
(H) Weighted Average Remaining Maturity of Remaining Portfolio (WAM) 21.29 months
(I) Remaining Number of Contracts 47,021
(J) Delinquent Contracts Contracts Amount
(i) 31-60 Days Delinquent 637 1.35% $4,415,064 1.85%
(ii) 61-90 Days Delinquent 98 0.21% 701,010 0.29%
(iii) Over 90 Days Delinquent 23 0.05% 162,772 0.07%
D. INPUTS DERIVED FROM OTHER SOURCES
(A) Collection Account Investment Income -- Paid to Servicer 0.00
(B) Reserve Fund Investment Income -- Paid to Seller 37,190.89
(C) Investment Income on Yield Supplement Balance 4,613.89
(D) Aggregate Net Losses for Collection Period 35,712.97
(E) Liquidated Contracts
(i) Gross Principal Balance of Liquidated Receivables 234,585.10
(ii) Net Liquidation Proceeds Received During the Collection Peri 92,112.61
(iii) Recoveries on Previously Liquidated Contracts 106,759.52
(F) Number of Vehicles Repossessed During the Collection Period 18
AMERICAN HONDA FINANCE CORPORATION
MONTHLY SERVICER REPORT -- Honda Auto Receivables 1997-A Grantor Trust
September 1, through September 30, 1999
I. COLLECTIONS
(A) Principal Payments Received (Excluding Repurchases) (C(A)i+ii + C( $19,760,993.72
(B) Interest Payments Received (C(B) - (C(A)i+ii+iii + C(ii) - D(i) + 1,859,771.79
(C) Aggregate Net Liquidation Proceeds Received (D(D)ii+iii) 198,872.13
(D) Principal on Repurchased Contracts (C(A)iii + C(C)iii) 0.00
(E) Interest on Repurchased Contracts (C(C)iv) 0.00
(F) Total Collections (A+B+C+D+E) 21,819,637.64
(G) Net Simple Interest Advance Amount (C(E)) 0.00
(H) Total Collections and Advances (F+G) 21,819,637.64
(I) Yield Supplement Deposit 110,328.76
(J) Total Available Amount (F+G+H) 21,929,966.40
II. DISTRIBUTIONS
(A) Principal Payments Received (Excluding Repurchases) (I(A)) 19,760,993.72
(B) Principal on Repurchased Contracts (I(D)) 0.00
(C) Gross Principal Balance of Liquidated Receivables (D(D)i) 234,585.10
(D) Total Principal Reduction (A+B+C) 19,995,578.82
(E) Class A Distributable Amount
(i) Class A Monthly Interest Payment (A(D)*B(C)) 1,182,660.32
(ii) Monthly Principal to Class A (B(C)-(III(i)*A(B)) 18,745,855.14
(iii) Total Distributable Amount (i+ii) 19,928,515.46
(F) Class B Distributable Amount
(i) Class B Monthly Interest Payment (A(F)*B(E)) 78,844.02
(ii) Monthly Principal to Class B (II(D)-(E)ii) 1,249,723.68
(iii) Total Distributable Amount (i+ii) 1,328,567.70
(G) Required Distributions
(i) Servicing Fee (A(G)*B(A)) 215,641.77
(ii) Class A Amount (II(E)iii) 19,928,515.46
(iii) Deposit to Reserve Fund (If Positive (IV(H)-(A))) 457,241.47
(iv) Class B Amount (II(F)iii) 1,328,567.70
(v) Residual Release to Seller 0.00
(vi) Total Amount Distributed (i+ii+iii+iv+v) 21,929,966.40
(H) Amount of Draw from Reserve Fund (IV(B+C+D)) 0.00
(I) Sum of Draw from Reserve Fund and Total Available Amount (I(H)+II( 21,929,966.40
III. POOL BALANCES AND PORTFOLIO INFORMATION
Beginning End
of Period of Period
(A) Balances and Principal Factors
(i) Total Pool Balance 258,770,121.52 238,774,542.70
(ii) Total Pool Factor 0.2395910 0.2210774
(iii) Class A Certificate Balance 242,596,988.92 223,851,133.78
(iv) Class A Principal Factor 0.2395910 0.2210774
(v) Class B Certificate Balance 16,173,132.60 14,923,408.92
(B) Portfolio Information
(i) Weighted Average Coupon (WA 8.12% 8.17%
(ii) Weighted Average Remaining 21.91 months 21.29 months
(iii) Remaining Number of Contrac 48,449 47,021
(C) Outstanding Advance Amount $791,500.86 $883,343.93
(D) Outstanding Payahead Balance $1,244,273.42 $1,173,950.84
IV. RECONCILIATION OF RESERVE FUND
(A) Beginning Reserve Fund Balance (B(F)) $9,541,444.68
(B) Draw for Class A Distributa(If Positive ((II(E)iii+(G)i)-I(H))) 0.00
(C) Draw for Class B Distributable Amount and Servicing Fee 0.00
(If Positive ((II(E)iii + II(F)(iii) + (G)i) - (I(H)+IV(B)))
(D) Amount Available for Deposit to the Reserve Fund $457,241.47
(If Positive (I(H) - (II(E)iii + II(F)(iii) + (G)i)))
(E) Reserve Fund Balance Prior to Release (IV(A-B-C+D)) $9,998,686.15
(F) Reserve Fund Required Amount (Was Trigger or Floor Hit?) $16,200,744.13
(G) Reserve Fund Release to Seller 0.00
(If Positive (E-F))
(H) Ending Reserve Fund Balance (E-G) $9,998,686.15
V. YIELD SUPPLEMENT ACCOUNT DEPOSIT
(A) Beginning Yield Supplement Account Balance $600,476.28
(B) Investment Earnings $4,613.89
(C) Additional Yield Supplement Amounts $0.00
(D) Yield Supplement Deposit Amount $110,328.76
(E) Ending Yield Supplement Account Balance $494,761.41
(F) Release Amount Due Seller 15,204.37
(G) Ending Yield Supplement Account Balance to be Invested 479,557.04
V. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
(A) Aggregate Net Losses for Collection Period (V(B)i-ii-iii) 35,712.97
(B) Liquidated Contracts
(i) Gross Principal Balance of Liquidated Receivables (D(D)i) 234,585.10
(ii) Net Liquidation Proceeds Received During the Collection Peri 92,112.61
(iii) Recoveries on Previously Liquidated Contracts (D(D)iii) 106,759.52
(C) Cumulative Net Losses for all Periods (V(A)+B(H)) 7,594,207.44
(D) Delinquent and Repossessed Contracts
Contracts Amount
(i) 31-60 Days Delinquent 637 1.35% 4,415,064.00
(ii) 61-90 Days Delinquent 98 0.21% 701,010.00
(iii) Over 90 Days Delinquent 23 0.05% 162,772.00
(iv) Vehicles Repossessed During 18 0.04% 165,993.44
(v) Total Accumulated Repossesse 46 0.09% 381,577.95
VI. TESTS FOR INCREASE IN RESERVE FUND BALANCE
(A) Ratio of Net Losses to the Pool Balance as of Each Collection Period.
(i) Second Preceeding Collection Period -0.08%
(ii) Preceeding Collection Period 0.00%
(iii) Current Collection Period 0.17%
(iv) Three Month Average (Avg(i,ii,iii)) 0.03%
(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 0.31%
(ii) Preceeding Collection Period 0.36%
(iii) Current Collection Period 0.36%
(iv) Three Month Average (Avg(i,ii,iii)) 0.34%
(C) Loss and Delinquency Trigger Indicator Trigger Was Not Hit
I hereby certify that the servicing report provided is true
and accurate to the best of my knowledge.
/s/ John Weisickle
John Weisickle, Vice President / Finance