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.