8-K 1 w55731e8-k.txt FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------------ FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: December 12, 2001 ----------------- CAPITAL ONE AUTO FINANCE TRUST CAPITAL ONE BANK (Exact name of registrant as specified in its charter) Virginia 0-25762 54-1719855 -------------------------------- ------------- ---------------- (State or other jurisdiction of (Commission (IRS Employer incorporation) File Number) Identification No.) 11013 West Broad Street Road, Glen Allen, Virginia 23060 -------------------------------------------------- ------------- (Address of principal executive offices) (Zip Code) (Registrant's telephone number, including area code): (804) 967-1000 (Former name or former address, if changed since last report): Not Applicable Capital One Auto Finance Trust Automobile Receivable-Backed Notes, Series 2001-A Class A-1 3.75 % Asset Backed Notes Class A-2 4.14 % Asset Backed Notes Class A-3 4.83 % Asset Backed Notes Class A-4 5.40 % Asset Backed Notes Class B 7.92 % Asset Backed Notes Preliminary Servicer's Certificate ------------------------------------------- Monthly Period Beginning: 11/1/01 Monthly Period Ending: 11/30/01 Prev. Distribution/Close Date: 11/15/01 Distribution Date: 12/17/01 Days of Interest for Period: 32 Days in Collection Period: 30 Months Seasoned: 4 -------------------------------------------

------------------------------------------- -------------------------------------------------- Original Purchases Units Cut-off Date Closing Date Pool Balance ------------------------------ ~~MONTHLY PERIOD BEGINNING: 10/1/01 ORIGINAL MONTHLY PERIOD ENDING: 10/31/01 PURCHASES UNITS CUT~~-~~OFF DATE CLOSING DATE POOL BALANCE PREV. DISTRIBUTION/CLOSE DATE: 10/15/01~~ -------------------------------------------------------------~~--------------------~~ ~~DISTRIBUTION~~Initial ~~DATE:~~Purchase ~~11/15/01 INITIAL PURCHASE~~ 52,772 7/26/01 $815,094,313 ~~DAYS OF INTEREST FOR PERIOD: 31 SUB~~Sub. ~~PURCHASE~~Purchase #1 6,974 8/24/01 113,867,436 ~~DAYS IN COLLECTION PERIOD: 31 SUB~~Sub. ~~PURCHASE~~Purchase #2 0 ~~MONTHS SEASONED: 3~~ ------------------------------------------------------------------------ ~~TOTAL~~Total 59,746 $928,961,749 ------------------------------------------- -------------------------------------------------~~--------------------------------~~

----------------------------------------------------------------------------------------------------------------------------------- I. MONTHLY PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION: ----------------------------------------------------------------------------------------------------------------------------------- {1} Beginning of period Aggregate Principal Balance {1} $~~889~~872,~~734~~423,~~322~~924.6807 ---------------------~~------~~ {2} Purchase of Subsequent Receivables {2} 0.00 ---------------------~~------~~ Monthly Principal Amounts {3} Regular Principal Received {3} 109,~~474~~677,~~531~~163.6185 ------------------ {4} Prepaid Principal Received {4} 4,~~771~~614,~~478~~633.6750 ------------------ {5} Defaulted Receivables Deposit Amount {5} 12,~~895~~647,~~778~~594.5493 ------------------ {6} Principal Portion of Repurchased Receivables {6} ~~157~~21,~~028~~994.6812 ------------------ {7} Cram Down Losses and Other Non-Cash Adjustments {7} 113,~~581~~799.1106 ------------------ {8} Total Monthly Principal Amounts {8} 1716,~~310~~965,~~398~~185.6146 ---------------------~~------~~ {9} End of period Aggregate Receivable Balance {9} $~~872~~855,~~423~~458,~~924~~738.0761 =====================~~======~~ {10} Pool Factor ( {9} / Original Pool Balance) {10} 0.~~9391~~9209

----------------------------------------------------------------------------------------------------------------------------------- II. MONTHLY PERIOD NOTE BALANCE CALCULATION: ----------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------- ~~CLASS~~Class A-1 ~~CLASS~~Class A-2 ~~CLASS~~Class A-3 --------- --------- --------- {11} Original Note Balance {11} $126,500,000 $234,500,000 $241,500,000 ---------------------------------------------------------------------- {12} Beginning of period Note Balance {12} 9074,~~606~~767,~~905~~891 234,500,000 241,500,000 ---------------------------------------------------------------------- {13} Noteholders' Principal Distributable Amount {13} 15,~~839~~523,~~015~~145 0 0 {14} Noteholders' Accelerated Principal Amount {14} 0 0 0 {15} Optional Note Redemption Principal Amount {15} 0 0 0 ---------------------------------------------------------------------- {16} End of period Note Balance {16} 7459,~~767~~244,~~891~~746 234,500,000 241,500,000 ====================================================================== {17} Note Pool Factors ( {16} / {11} ) {17} 0.~~5911~~4683 1.0000 1.0000 ================================================================ ----------------------------------------------------------------------------------------------------------------------------------- II. MONTHLY PERIOD NOTE BALANCE CALCULATION: ----------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------- CLASS A-4 CLASS B TOTAL --------- ------- ----- {11} Original Note Balance $247,500,000 $60,382,514 $910,382,514 --------------------------------------------------------------- {12} Beginning of period Note Balance 247,500,000 43,222,505 $857,329,410 --------------------------------------------------------------- {13} Noteholders' Principal Distributable Amount 0 1,125,176 16,964,191 {14} Noteholders' Accelerated Principal Amount 0 6,992,443 6,992,443 {15} Optional Note Redemption Principal Amount 0 0 0 --------------------------------------------------------------- {16} End of period Note Balance 247,500,000 35,104,886 $833,372,777 ======~~========================================================= {17} Note Pool Factors ( {16} / {11} ) 1.0000 0.5814 0.9154 ===============================================================~~

--------------------------------------------------------------------------------------------------------------------- II. MONTHLY PERIOD NOTE BALANCE CALCULATION: -------------- ~~III. RECONCILIATION OF PRE~~-~~FUNDING ACCOUNT:~~ ------------------------------------------------------------------------------------------------------ --------------------------------------------------------- ~~{18}~~Class ~~Beginning of period Pre~~A-~~Funding~~4 ~~Account~~Class ~~balance~~B ~~{18}~~TOTAL ~~$0.00~~ --------- ------- ----- {1911} ~~Purchase~~Original ofNote ~~Subsequent~~Balance ~~Receivables~~$247,500,000 ~~{19}~~$60,382,514 ~~0.00~~$910,382,514 --------------- ~~{20} Investment Earnings {20} 188,404.50~~ ------------------------------------------ {2112} ~~Investment~~Beginning ~~Earnings~~of ~~Transfer~~period toNote ~~Collections~~Balance ~~Account~~247,500,000 ~~{21}~~35,104,886 ~~(188~~$833,~~404.50)~~372,777 --------------------------------------------------------- {2213} ~~Payment~~Noteholders' ofPrincipal ~~Mandatory~~Distributable ~~Prepayment~~Amount 0 1,102,737 16,625,882 {14} Noteholders' Accelerated Principal Amount 0 4,061,093 4,061,093 {2215} Optional Note Redemption Principal Amount 0~~.00~~ 0 0 --------------------------------------------------------- {2316} End of period ~~Pre-Funding~~Note ~~Account~~Balance ~~balance~~247,500,000 29,941,056 $812,685,802 ========================================================= {2317} $Note Pool Factors ( {16} / {11} ) 1.0000 0.004959 ~~--------------~~0.8927 =========================================================

----------------------------------------------------------------------------------------------------------------------~~-------------~~ IVIII. RECONCILIATION OF ~~COLLECTION~~PRE-FUNDING ACCOUNT: ----------------------------------------------------------------------------------------------------------------------~~-------------~~ ~~AVAILABLE FUNDS:~~ {2418} ~~Scheduled~~Beginning ~~and~~of ~~Prepayment Principal Cash Received {24} 15,246,010.28 ----------------------------- {25} Liquidation Proceeds Collected during~~ period ~~{25} 874,628.15~~ Pre-~~----------------------------~~Funding ~~{26}~~Account ~~Receivables~~balance ~~Repurchase Amounts~~ {2618} ~~157,028~~$0.6800 ---------------~~--------------~~ {2719} ~~Interest~~Purchase ~~and~~of ~~Fees~~Subsequent ~~Collected on~~ Receivables {2719} ~~13,195,329~~0.3400 -------------------~~----------~~ {2820} ~~Recoveries~~Investment onEarnings ~~Previously Defaulted Receivables~~ {2820} 0.00 -------------------~~----------~~ {2921} ~~Advances from the Reserve Fund {29} 0.00 -----------------------------~~ Investment Earnings ~~on Trust Accounts {30} Collection Account {30} 39,302.35 ----------------------------- {31}~~ Transfer ~~from~~to ~~Reserve~~Collections ~~Fund {31} 32,661.43 ----------------------------- {32} Transfer from Pre-Funding~~ Account {3221} ~~188,404~~0.5000 -------------------~~----------~~ {3322} ~~Optional~~Payment ~~Note~~of ~~Redemption~~Mandatory Prepayment Amount {3322} 0.00 -------------------~~----------~~ {3423} ~~Total~~End ~~Available~~of ~~Funds~~period ~~{34} 29,733,364.73~~ Pre-~~------------------~~Funding ~~DISTRIBUTIONS:~~Account ~~{35}~~balance ~~Trustees' Fees~~ {3523} $0.00 ---------------~~-------------- {36} Servicing Fees {36} 2,100,538.85 -----------------------------~~

~~Class~~----------------------------------------------------------------------------------------------------------------------------------- AIV. ~~Noteholders'~~RECONCILIATION ~~Note~~OF COLLECTION ACCOUNT: ----------------------------------------------------------------------------------------------------------------------------------- AVAILABLE FUNDS: {24} Scheduled and Prepayment Principal Cash Received {24} 14,291,797.35 --------------- {25} Liquidation Proceeds Collected during period {25} 766,592.20 --------------- {26} Receivables Repurchase Amounts {26} 21,994.12 --------------- {27} Interest and Fees Collected on Receivables {27} 12,275,045.93 --------------- {28} Recoveries on Previously Defaulted Receivables {28} 4,598.43 --------------- {29} Advances from the Reserve Fund {29} 0.00 --------------- Investment Earnings on Trust Accounts {30} Collection Account {30} 40,134.35 --------------- {31} Transfer from Reserve Fund {31} 24,134.30 --------------- {32} Transfer from Pre-Funding Account {32} 0.00 --------------- {33} Optional Note Redemption Prepayment Amount {33} 0.00 --------------- ~~BEGINNING~~{34} ~~INTEREST~~Total ~~CALCULATED~~Available ~~CLASS~~Funds ~~NOTE~~{34} ~~BALANCE~~27,424,296.68 ~~RATE~~--------------- ~~DAYS~~DISTRIBUTIONS: ~~DAYS~~{35} ~~BASIS~~Trustees' ~~INTEREST~~Fees {35} 0.00 --------------- {36} Servicing Fees {36} 2,068,492.55 --------------- Class A Noteholders' Note Interest ------------------------------------------------------------------------------- Beginning Interest Calculated Class Note Balance Rate Days Days Basis Interest ------------------------------------------------------------------------------- {37} A-1 $9074,~~606~~767,~~905~~891 3.75000% 3132 Actual days/360 $~~292~~249,~~585~~226 {37} 249,226.30 ---------------- {38} A-2 $234,500,000 4.14000% 30 30/360 $809,025 {38} 809,025.00 ---------------- {39} A-3 $241,500,000 4.83000% 30 30/360 $972,038 {39} 972,037.50 ---------------- {40} A-4 $247,500,000 5.40000% 30 30/360 $1,113,750 {40} 1,113,750.00 ------------------------------------------------------------------------------- ----------------~~------~~ {41} Note Insurer Premiums {41} 199,566.97 ---------------- {42} Reimbursement Obligations due Note Insurer {3742} ~~292~~0.00 ---------------- Class B Noteholders' Primary Note Interest ----------------------------------------------------------------------------- Beginning Interest Calculated Class Note Balance Rate Days Days Basis Interest ----------------------------------------------------------------------------- {43} Class B $35,~~584~~104,886 7.8092000% 30 30/360 $231,692 {43} 231,692.25 ----------------------------------------------------------------------------- ---------------- {3844} ~~809~~Class A Noteholders' Principal Payment Amount {44} 15,~~025~~523,144.0070 ---------------- {45} Accrued and Unpaid Premium and Reimbursement Obligations, due Note Insurer {45} 0.00 ---------------- {3946} ~~972~~Deposit to Reserve Account,~~037~~ to Required Level {46} 0.5000 ---------------- {47} Class A Noteholder's Accelerated Principal Amount (if in an event of default under the indenture or, under certain circumstances, an insurance agreement event of default) {47} 0.00 ---------------- {4048} Class B Noteholders' Principal Payment Amount {48} 1,~~113~~102,~~750~~737.05 ---------------- {49} Class B Noteholder's Accelerated Principal Amount {49} 4,061,093.43 ---------------- {50} Optional Note Redemption Amount {50} 0.00 ---------------- {51} Other Amounts Due to the Trustees {51} 0.00 ---------------- {4152} ~~203,526~~Servicer Transition Expenses {52} 0.7300 ---------------- {53} Indenture Trustee Title Expenses {53} 0.00 ---------------- {4254} Class B Excess Interest {54} 0.00 ---------------- {55} Distribution to the equity certificate holder {55} 1,093,530.92 ---------------- {56} Total Distributions {56} 27,424,296.68 ===============

~~Class B Noteholders' Primary Note Interest~~ --------------------------------------------------------------------- ~~BEGINNING INTEREST CALCULATED CLASS NOTE BALANCE RATE DAYS DAYS BASIS INTEREST~~ --------------------------------------------------------------~~-------~~ ~~{43} Class B $43,222,505 7~~V.~~92000%~~ 30RECONCILIATION ~~30/360~~OF ~~285,269~~RESERVE ~~{43}~~ACCOUNT: ~~285,268.53~~ --------------------------------------------------------------------- -------------------------------------------------------------- {4457} ~~Class~~BEGINNING AOF ~~Noteholders'~~PERIOD ~~Principal~~RESERVE ~~Payment~~ACCOUNT ~~Amount~~BALANCE {4457} 15$9,~~839~~103,~~014~~825.7314 ---------------- ~~{45}~~DEPOSITS ~~Accrued~~TO ~~and~~RESERVE ~~Unpaid~~ACCOUNT ~~Premium~~{58} ~~and~~Investment ~~Reimbursement~~Earnings ~~Obligations, due Note Insurer~~ {4558} 024,134.0030 ---------------- {4659} ~~Deposit~~Deposits toRelated ~~Reserve Account,~~ to ~~Required~~Subsequent ~~Level~~Receivables Purchases {4659} ~~0.00~~- ---------------- {4760} ~~Class~~Total AAdditions ~~Noteholder's~~{60} ~~Accelerated~~$24,134.30 ~~Principal~~--------------- ~~Amount~~PRIORITY ~~(if~~WITHDRAWALS inFROM anRESERVE ~~event~~ACCOUNT {61} Transfer of ~~default~~Investment ~~under~~Earnings ~~the~~to ~~indenture~~Collection orAccount {61} (24,134.30) ~~under~~---------------- ~~certain~~{62} ~~circumstances,~~Advances anto ~~insurance~~Collection ~~agreement~~Account ~~event~~- ofPriority ~~default~~(1) through (7) {4762} ~~0.00~~- ---------------- {4863} ~~Class~~Total BPriority ~~Noteholders'~~Withdrawals ~~Principal~~{63} ~~Payment~~($24,134.30) ~~Amount~~---------------- {4864} 1RESERVE ACCOUNT SUBTOTAL {64} $9,~~125~~103,~~175~~825.9114 ---------------- {4965} ~~Class~~Reserve BAccount ~~Noteholder's~~Requirement ~~Accelerated Principal Amount~~ {4965} 69,~~992~~103,~~442~~825.6814 ---------------- {5066} ~~Optional~~Reserve ~~Note~~Account ~~Redemption~~Shortfall ~~Amount~~/ Excess {5066} 0.00 ---------------- {5167} ~~Other~~DEPOSIT ~~Amounts~~TO ~~Due~~RESERVE toFUND, ~~the~~TO ~~Trustees~~REQUIRED LEVEL {5167} $0.00 ---------------- {5268} ~~Servicer~~RESERVE ~~Transition~~ACCOUNT ~~Expenses~~PRIMARY BALANCE {5268} 0$9,103,825.0014 ---------------- SUBORDINATE WITHDRAWALS FROM RESERVE ACCOUNT {5369} ~~Indenture~~Advances ~~Trustee~~to ~~Title~~Collection ~~Expenses~~Account - Priority (10), (16) and (17) (limited to excess amounts on deposit) {5369} ~~0.00~~- ---------------- {5470} ~~Class~~Advances Bto ~~Excess~~Collection ~~Interest~~Account - Priority (12) through (15) {5470} ~~0.00~~- ---------------- {5571} ~~Distribution~~Return toof ~~the~~Excess ~~equity~~to ~~certificate~~Equity ~~holder~~Certificate Holder {5571} ~~0.00~~- ---------------- {5672} Total ~~Distributions~~Subordinate Withdrawals {5672} 29- ---------------- {73} END OF PERIOD RESERVE ACCOUNT BALANCE {73} 9,~~733~~103,~~364~~825.7314 ================

------------------------------------------------------------------------------------------------------------------------------------ VVI. ~~RECONCILIATION~~CALCULATION OF RESERVE ACCOUNT: REQUIREMENT ------------------------------------------------------------------------------------------------------------------------------------ ~~{57}~~If ~~BEGINNING~~Prior OFto ~~PERIOD~~Accelerated ~~RESERVE~~Reserve ~~ACCOUNT~~Fund ~~BALANCE~~Event: ~~{57} $9,887,746.75~~ ------------------------------------------- ~~DEPOSITS~~Lesser TOof: ~~RESERVE ACCOUNT~~ {5874} ~~Investment~~(1)Ending ~~Earnings~~Aggregate Note Balance {5874} 32812,~~661~~685,801.4368 ----------------- -or-- {5975} ~~Deposits~~(2)1.0% ~~Related~~of to98% ~~Subsequent~~of ~~Receivables~~Original ~~Purchases~~Receivable Balance {5975} 9,103,825.14 ----------------- ----------------- {6076} ~~Total~~Requirement ~~Additions~~ {6076} ~~$32~~9,~~661~~103,825.4314 ----------------- ~~PRIORITY~~If ~~WITHDRAWALS~~Accelerated ~~FROM~~Reserve ~~RESERVE~~Fund ~~ACCOUNT~~Event: ~~{61}~~---------------------------------- ~~Transfer~~Lesser of: ~~Investment~~{77} ~~Earnings~~(1)Ending toAggregate ~~Collection~~Note ~~Account~~Balance {6177} ~~(32~~812,~~661~~685,801.~~43)~~68 ----------------- -or-- (2)Greater of: {6278} ~~Advances~~(a) to3.0% ~~Collection~~of ~~Account~~98% -of ~~Priority~~Original ~~(1)~~Receivable ~~through~~Balance ~~(7)~~ {6278} -27,311,475.41 ---------------- {6379} ~~Total~~-or-- ~~Priority Withdrawals~~ {6379} ~~($32~~46,~~661~~025,391.~~43)~~05 ---------------- {6480} ~~RESERVE~~(b) ~~ACCOUNT~~6.0% ~~SUBTOTAL~~of 98% of Current Outstanding Class A Note Principal Balance {6480} $946,~~887~~025,~~746~~391.7505 --------------- ----------------- {6581} ~~Reserve Account~~ Requirement {6581} 946,~~103~~025,~~825~~391.1405 ----------------- ~~{66}~~------------------------------------------------------------------------------------------------------------------------------------ ~~Reserve~~VII. ~~Account~~CALCULATION ~~Shortfall~~OF /PRINCIPAL ~~Excess~~PAYMENT AMOUNTS ------------------------------------------------------------------------------------------------------------------------------------ {6682} ~~783~~Principal Collections {82} 16,~~921~~965,185.6146 ---------------- {6783} ~~DEPOSIT~~End TOof ~~RESERVE~~Period ~~FUND,~~Aggregate TOReceivables ~~REQUIRED~~Balance ~~LEVEL~~ {6783} $0855,458,738.0061 ---------------- {6884} ~~RESERVE~~Required ~~ACCOUNT~~O/C ~~PRIMARY~~Margin ~~BALANCE~~(as Specified in Trust Indenture) {6884} $917,~~887~~109,~~746~~174.7577 ---------------- ~~SUBORDINATE~~{85} ~~WITHDRAWALS~~Required ~~FROM~~Maximum ~~RESERVE~~Ending ~~ACCOUNT~~Aggregate ~~{69}~~Class ~~Advances~~A toPrincipal ~~Collection~~Balance ~~Account~~(line {83} - ~~Priority (10~~{84}) {85} 838,349,563.84 ~~(16)~~--------------- ~~and~~{86} ~~(17)~~Class ~~(limited~~A toAggregate ~~excess~~Oustanding ~~amounts~~Principal onBalance ~~deposit~~(Start of Period) {6986} -798,267,890.53 ---------------- Less: {7087} ~~Advances~~Allocable to ~~Collection~~Class ~~Account~~A -Notes ~~Priority~~ (~~12)~~line ~~through~~{82} ~~(15~~X 91.5%) {7087} -15,523,144.70 --------------- {88} Preliminary Class A Ending Balance {88} 782,744,745.83 --------------- {7189} ~~Return~~Payment ofAmount ~~Excess~~Necessary to ~~Equity~~Reduce ~~Certificate~~Class ~~Holder~~A Balance to Required Level (line {7188} ~~(783,921.61~~- {85}) {89} 0.00 --------------- ----------------- {7290} ~~Total~~Class ~~Subordinate~~A ~~Withdrawals~~Principal Payment Amount (line {7287} ~~(783~~+ {89}) {90} 15,~~921~~523,144.~~61)~~70 ----------------- ----------------- {7391} ~~END~~Class OFB ~~PERIOD~~Principal ~~RESERVE~~Payment ~~ACCOUNT~~Amount ~~BALANCE~~(line {7382} 9X 6.5%) {91} 1,~~103~~102,~~825~~737.1405 ~~================~~----------------- ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Monthly Servicer's Report as dated above. OFFICERS' CERTIFICATE The undersigned hereby certifies that ( i ) he or she is an Authorized Officer of Captial One Auto Finance ( the "Servicer" ), and ( ii ) Exhibit A hereto complies with the requirements of, and is being delivered pursuant to, Section 2.02 ( c ) of the Servicing Agreement ( the "Servicing Agreement" ) dated as of July 26, 2001 by and among Captial One Auto Finance Trust 2001-A, as the Issuer, Wells Fargo Bank Minnesota, National Association, Trustee, and the Servicer. CAPITAL ONE AUTO FINANCE Capital One Auto Finance, as Servicer By: /s/ STUART LEVY -------------------------------------- Name: Stuart Levy Title: Manager of Global Trust Reporting Date: 12/17/01 3 Capital One Auto Finance Trust Automobile Receivable-Backed Notes, Series 2001-A Class A-1 3.75 % Asset Backed Notes Class A-2 4.14 % Asset Backed Notes Class A-3 4.83 % Asset Backed Notes Class A-4 5.40 % Asset Backed Notes Class B 7.92 % Asset Backed Notes Servicer's Certificate ---------------------------------------------------- Monthly Period Beginning: 11/1/01 Monthly Period Ending: 11/30/01 Prev. Distribution/Close Date: 11/15/01 Distribution Date: 12/17/01 Days of Interest for Period: 32 Days in Collection Period: 30 Months Seasoned: 4 ---------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ I. MONTHLY PERIOD NOTE BALANCE CALCULATION: Class A-1 Class A-2 Class A-3 Class A-4 Class B TOTAL --------- --------- --------- --------- ------- ----- {1} Original Note Balance {1} $126,500,000 $234,500,000 $241,500,000 $247,500,000 $60,382,514 $910,382,514 ------------------------------------------------------------------------------------------------------------------------------------ {2} Beginning of period Note Balance {2} $74,767,891 $234,500,000 $241,500,000 $247,500,000 $35,104,886 $833,372,777 {3} End of period Note Balance {3} $59,244,746 $234,500,000 $241,500,000 $247,500,000 $29,941,056 $812,685,802 ================================================================================= {4} Note Pool Factors {3} / {1} {4} 0.468 1.000 1.000 1.000 0.496 0.893 =================================================================================

------------------------------------------------------------------------------------------------------------------------------- II. MONTHLY PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION: ------------------------------------------------------------------------------------------------------------------------------- ----------------------------- Cumulative Period ----------------------------- {5} Beginning number of Receivables {5} 0 57,870 {6} Number of Subsequent Receivables Purchased {6} 6,974 0 {7} Number of Receivables Defaulted during period {7} 334 211 {8} Number of Receivables becoming Purchased Receivables during period {8} 706 1 {9} Number of Receivables paid off during period {9} 1,408 360 ----------------------------- {10} Ending number of Receivables {10} 57,298 57,298 ----------------------------- ------------------------------------------------------------------------------------------------------------------------------- III. STATISTICAL DATA: (CURRENT AND HISTORICAL) ------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------- Original Prev. Month Current --------------------------------------------- {11} Weighted Average APR of the Receivables {11} 17.37% 17.38% 17.38% {12} Weighted Average Remaining Term of the Receivables {12} 61.22 58.74 57.88 {13} Weighted Average Original Term of Receivables {13} 64.74 64.74 64.74 {14} Average Receivable Balance {14} $15,549 $15,065 $14,913 --------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------- IV. DELINQUENCY: ------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------- Receivables with Scheduled Payment delinquent Units Dollars Percentage --------------------------------------------- {15} 31-60 days {15} 2,901 43,938,492 5.04% {16} 61-90 days {16} 787 11,676,905 1.34% {17} 91-120 days {17} 173 2,674,637 0.31% --------------------------------------------- {18} Receivables with Scheduled Payment delinquent more than 60 days at end of period {18} 960 $14,351,542 1.65% ---------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------- V. PERFORMANCE TESTS: ----------------------------------------------------------------------------------------------------------------------------------- DELINQUENCY RATIO {19} Receivables with Scheduled Payment delinquent more than 60 days at end of period ( line {18}) {19} $14,351,542 ------------- {20} Beginning of period Principal Balance {20} 872,423,924 ------------- {21} Delinquency Ratio {16} + {17} divided by {20} {21} 1.65% ------------- {22} Previous Monthly Period Delinquency Ratio {22} 1.10% ------------- {23} Second previous Monthly Period Delinquency Ratio {23} 0.78% ------------- {24} Average Delinquency Ratio ({21} + {22} + {23}) / 3 {24} 1.17% ------------- -------------------------------------------------------------------------------------------------------------------- Compliance with Accelerated Reserve Fund Trigger? (Average Delinquency Ratio is less than or equal to 3% months 1-12, 4% months 13-24 and 5% thereafter) Yes Complaince with Insurance Agreement Event of Default? (Average Delinquency Ratio is less than or equal to 4% months 1-12, 5% months 13-24 and 6% thereafter) Yes -------------------------------------------------------------------------------------------------------------------- CUMULATIVE NET CHARGE-OFF RATE {25} Net Losses since Initial Cut-off Date (Beginning of Period) {25} 1,079,354 ------------- {26} Receivables becoming Defaulted Receivables during period {26} $2,647,595 ------------- {27} Cram Down Losses and other non-cash Adjustments occurring during period {27} 3,799 ------------- {28} Liquidation Proceeds collected during period {28} 766,592 ------------- {29} Recoveries on Defaulted Receivables during period {29} 4,598 ------------- {30} Net Losses during period {26} - {27} - {28} - {29} {30} 1,872,605 ------------- {31} Net Losses since Initial Cut-off Date (End of Period) {31} 2,951,959.37 ------------- {32} Cumulative Net Loss Rate ({31}) / {Original Aggregate Principal Balance} {32} 0.32% -------------

------------------------------------------------------------------------------------------------------------------------------ Compliance with Accelerated Reserve Fund Trigger? Cumulative Net Loss Rate is less than or equal to: 0.03125 Yes Complaince with Insurance Agreement Event of Default? Cumulative Net Loss Rate is less than or equal to: N/A Yes ------------------------------------------------------------------------------------------------------------------------------

EXTENSION RATE {33} Number of Receivables extended during current period {33} 759 -------- {34} Beginning of Period Loans Outstanding {34} 57,870 -------- {35} Extension Rate {33} divided by {34} {35} 1.31% --------- {36} Previous Monthly Extension Rate {36} 1.03% --------- {37} Second previous Monthly Extension Rate {37} 0.69% --------- {38} Average Extension Rate ({35} +{36} +{37}) / 3 {38} 1.01% --------- ------------------------------------------------------------------------------------------------------- Compliance (Extension Test Pass is an Average Extension Rate less than 4%.) Yes -------------------------------------------------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------ VI. CALCULATION OF RESERVE ACCOUNT REQUIREMENT ------------------------------------------------------------------------------------------------------------------------------------ IF PRIOR TO ACCELERATED RESERVE FUND EVENT: Lesser of: {74} (1)Ending Aggregate Note Balance {74} 833,372,776.86 -------------------- -or-- {75} (2)1.0% of 98% of Original Receivable Balance {75} 9,103,825.14 -------------------- -------------------- {76} REQUIREMENT {76} 9,103,825.14 -------------------- IF ACCELERATED RESERVE FUND EVENT: Lesser of: {77} (1)Ending Aggregate Note Balance {77} 833,372,776.86 -------------------- -or-- (2)Greater of: {78} (a) 3.0% of 98% of Original Receivable Balance {78} 27,311,475.41 --------------- {79} -or-- {79} 51,298,526.74 -------------------- {80} (b) 6.0% of 98% of Current Receivable Balance {80} 51,298,526.74 --------------- -------------------- {81} REQUIREMENT {81} 51,298,526.74 --------------------

------------------------------------------------------------------------------------------------------------------------------------ VII. CALCULATION OF PRINCIPAL PAYMENT AMOUNTS ------------------------------------------------------------------------------------------------------------------------------------ {82} Principal Collections {82} 17,310,398.61 ----------------------------- {83} End of Period Aggregate Receivables Balance {83} 872,423,924.07 ----------------------------- {84} Required O/C Margin (as Specified in Trust Indenture) {84} 17,448,478.48 ----------------------------- {85} Required Maximum Ending Aggregate Class A Principal Balance (line {83} - {84}) {85} 854,975,445.59 ----------------------------- {86} Class A Aggregate Oustanding Principal Balance (Start of Period) {86} 814,106,905.26 ----------------------------- Less: {87} Allocable to Class A Notes (line {82} X 91.5%) {87} 15,839,014.73 ----------------------------- {88} Preliminary Class A Ending Balance {88} 798,267,890.53 ----------------------------- {89} Payment Amount Necessary to Reduce Class A Balance to Required Level (line {88} - {85}) {89} 0.00 ----------------------------- ----------------- {90} Class A Principal Payment Amount (line {87} + {89}) {90} 15,839,014.73 ----------------- ----------------- {91} Class B Principal Payment Amount (line {82} X 6.5%) {91} 1,125,175.91 -----------------

---------------------------------------------------------------------------------- ---------------------------------------------------------------------------------- MONTHLY PERIOD BEGINNING: 10/1/01 MONTHLY PERIOD ENDING: 10/31/01 PREV. DISTRIBUTION/CLOSE DATE: 10/15/01 DISTRIBUTION DATE: 11/15/01 DAYS OF INTEREST FOR PERIOD: 31 DAYS IN COLLECTION PERIOD: 31 MONTHS SEASONED: 3 ----------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------------------------------------- I. MONTHLY PERIOD NOTE BALANCE CALCULATION: CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4 --------- --------- --------- --------- {1} Original Note Balance {1} $126,500,000 $234,500,000 $241,500,000 $247,500,000 --------------------------------------------------------------------------------------------------------------------------------- {2} Beginning of period Note Balance {2} $90,606,905 $234,500,000 $241,500,000 $247,500,000 {3} End of period Note Balance {3} $74,767,891 $234,500,000 $241,500,000 $247,500,000 ==================================================================== {4} Note Pool Factors {3} / {1} {4} 0.591 1.000 1.000 1.000 ==================================================================== ------------------------------------------------------------------------------------- I. MONTHLY PERIOD NOTE BALANCE CALCULATION: CLASS B TOTAL ------- ----- {1} Original Note Balance $60,382,514 $910,382,514 ------------------------------------------------------------------------------------- {2} Beginning of period Note Balance $43,222,505 $857,329,410 {3} End of period Note Balance $35,104,886 $833,372,777 ============================ {4} Note Pool Factors {3} / {1} 0.581 0.915 ============================

----------------------------------------------------------------------------------------------------------------------------------- II. MONTHLY PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION: ----------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------- CUMULATIVE PERIOD -------------------------------------------- {5} Beginning number of Receivables {5} 0 58,372 {6} Number of Subsequent Receivables Purchased {6} 6,974 0 {7} Number of Receivables Defaulted during period {7} 123 111 {8} Number of Receivables becoming Purchased Receivables during period {8} 705 8 {9} Number of Receivables paid off during period {9} 1,048 383 -------------------------------------------- {10} Ending number of Receivables {10} 57,870 57,870 --------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------- III. STATISTICAL DATA: (CURRENT AND HISTORICAL) ----------------------------------------------------------------------------------------------------------------------------------- -------------------------------------------------------- ORIGINAL PREV. MONTH CURRENT -------------------------------------------------------- {11} Weighted Average APR of the Receivables {11} 17.37% 17.39% 17.38% {12} Weighted Average Remaining Term of the Receivables {12} 61.22 59.65 58.74 {13} Weighted Average Original Term of Receivables {13} 64.74 64.74 64.74 {14} Average Receivable Balance {14} $15,549 $15,241 $15,065 --------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------- IV. DELINQUENCY: ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------- Receivables with Scheduled Payment delinquent UNITS DOLLARS PERCENTAGE ----------------------------------------------------- {15} 31-60 days {15} 2,515 38,125,681 4.29% {16} 61-90 days {16} 512 7,651,559 0.86% {17} 91-120 days {17} 140 2,098,838 0.24% ----------------------------------------------------- {18} Receivables with Scheduled Payment delinquent more than 60 days at end of period {18} 652 $9,750,397 1.10% -----------------------------------------------------

------------------------------------------------------------------------------------------------------------------ Compliance with Accelerated Reserve Fund Trigger? (Average Delinquency Ratio is less than or equal to 3% months 1-12, 4% months 13-24 and 5% thereafter) Yes Complaince with Insurance Agreement Event of Default? (Average Delinquency Ratio is less than or equal to 4% months 1-12, 5% months 13-24 and 6% thereafter) Yes ------------------------------------------------------------------------------------------------------------------ CUMULATIVE NET CHARGE-OFF RATE {25} Net Losses since Initial Cut-off Date (Beginning of Period) {25} 69,785 --------------- {26} Receivables becoming Defaulted Receivables during period {26} $1,895,779 -------------------- {27} Cram Down Losses and other non-cash Adjustments occurring during period {27} 11,581 -------------------- {28} Liquidation Proceeds collected during period {28} 874,628 -------------------- {29} Recoveries on Defaulted Receivables during period {29} 0 -------------------- {30} Net Losses during period {26} - {27} - {28} - {29} {30} 1,009,569 -------------------- {31} Net Losses since Initial Cut-off Date (End of Period) {31} 1,079,354 --------------- {32} Cumulative Net Loss Rate ({31}) / {Original Aggregate Principal Balance} {32} 0.12% ---------------

------------------------------------------------------------------------------------------------------------------ Compliance (Extension Test Pass is an Average Extension Rate less than 4%.) Yes ------------------------------------------------------------------------------------------------------------------

Filing Compare · CAPITAL ONE AUTO FINANCE TRUST 2001-A