Exhibit 20.1

                                                                          Page 1

Chase Manhattan Auto Owner Trust 2003-C

                                                 Statement to Certificateholders
                                                                    July 15 2004



        DISTRIBUTION IN DOLLARS
               ORIGINAL           PRIOR                                                                                  CURRENT
                FACE             PRINCIPAL                                                   REALIZED   DEFERRED       PRINCIPAL
   CLASS       VALUE             BALANCE          PRINCIPAL     INTEREST         TOTAL         LOSES    INTEREST        BALANCE
                                                                                            
A1          212,000,000.00    38,654,745.70   29,188,286.30       36,722.01   29,225,008.31     0.00      0.00        9,466,459.40
A2          286,000,000.00   286,000,000.00            0.00      381,333.33      381,333.33     0.00      0.00      286,000,000.00
A3          234,000,000.00   234,000,000.00            0.00      440,700.00      440,700.00     0.00      0.00      234,000,000.00
A4          243,000,000.00   243,000,000.00            0.00      595,350.00      595,350.00     0.00      0.00      243,000,000.00
CERT         25,000,000.00    25,000,000.00            0.00       57,916.67       57,916.67     0.00      0.00       25,000,000.00
TOTALS    1,000,000,000.00   826,654,745.70   29,188,286.30    1,512,022.01   30,700,308.31     0.00      0.00      797,466,459.40




    FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                                                 PASS-THROUGH RATES
                          PRIOR                                                            CURRENT                     CURRENT
                         PRINCIPAL                                                        PRINCIPAL      CLASS         PASS THRU
 CLASS    CUSIP           FACTOR         PRINCIPAL      INTEREST         TOTAL             FACTOR                       RATE
                                                                                             
A1       161581D86     182.33370613    137.68059575    0.17321703    137.85381278        44.65311038      A1         1.140000 %
A2       161581DC4   1,000.00000000      0.00000000    1.33333332      1.33333332     1,000.00000000      A2         1.600000 %
A3       161581DD2   1,000.00000000      0.00000000    1.88333333      1.88333333     1,000.00000000      A3         2.260000 %
A4       161581DEO   1,000.00000000      0.00000000    2.45000000      2.45000000     1,000.00000000      A4         2.940000 %
CERT     161581DF7   1,000.00000000      0.00000000    2.31666680      2.31666680     1,000.00000000      CERT       2.780000 %
TOTALS                 826.65474570     29.18828630    1.51202201     30.70030831       797.46645940




IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
Kelly M Crosson
JPMorgan Chase Bank - Structured Finance Services
4 NY Plaza, 6th floor,
New York, New York 10004
Tel: (212) 623-5439
Fax: (212) 623-5932
Email: kelly.crosson@jpmorgan.com

                   Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved.



                                                                          Page 2
Chase Manhattan Auto Owner Trust 2003-C

                                  July 15 2004
                         STATEMENT TO CERTIFICATEHOLDERS


                                                                                                             
                                                        Due Period                                                              7
                                                        Due Period Beginning Date                                        06/01/04
                                                        Due Period End Date                                              06/30/04
                                                        Determination Date                                               07/09/04

Section 5.8(iii)                        Servicing Fee                                                                  688,878.95
Section 5.8(iii)                        Servicing Fee per $1000                                                        0.68887895

Section 5.8(iv)                         Administration Fee                                                               1,000.00
Section 5.8(iv)                         Administration Fee per $1000                                                   0.00100000

Section 5.8(vi)                         Pool Balance at the end of the Collection Period                           797,466,459.43

Section 5.8(vii)                        Repurchase Amounts for Repurchased Receivable
                                        By Seller                                                                            0.00
                                        By Servicer                                                                     14,088.00
                                        TOTAL                                                                           14,088.00

Section 5.8(viii)                       Realized Net Losses for Collection Period                                       95,878.17

Section 5.8(ix)                         Reserve Account Balance after Disbursement                                  17,942,995.34

Section 5.8(x)                          Specified Reserve Account Balance                                           17,942,995.34

Section 5.8(xi)                         Yield Supplement Account Balance                                             2,259,158.12

Section 5.8(xii)                        Total Distribution Amount                                                   33,102,142.15
                                        Servicing Fee                                                                  688,878.95
                                        Administration Fee                                                               1,000.00
                                        Noteholders Distribution Amount                                             30,642,391.64
                                        Certficateholders Distribution Amount                                           57,916.67
                                        Deposit to Reserve Account                                                   1,711,954.89


                   Copyright(C)2001 J.P. Morgan Chase & Co. All rights reserved.