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.