8-K 1 w56504e8-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: January 10, 2002 ---------------- 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 ITEM 5. OTHER EVENTS The December 2001 Monthly Servicer Report to investors were distributed January 10, 2002. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned there-unto duly authorized. CAPITAL ONE MASTER TRUST By: CAPITAL ONE BANK Servicer By: /s/ David M. Willey ----------------------------------- David M. Willey Senior Vice President of Corporate Financial Management Date: January 10, 2002 Page 2 of 2 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

---------------------------------------------- ----------------------------------------------- ~~Original Purchases Units Cut~~-~~off Date Closing Date Pool Balance~~ -------------------------- MONTHLY PERIOD BEGINNING: 12/1/01 ORIGINAL MONTHLY PERIOD ENDING: 12/31/01 PURCHASES UNITS CUT-OFF DATE CLOSING DATE POOL BALANCE -------------------------------------------------------------------------- ~~Initial~~PREV. ~~Purchase~~DISTRIBUTION/CLOSE DATE: 12/17/01 INITIAL PURCHASE 52,772 7/26/01 $815,094,313 ~~Sub~~DISTRIBUTION DATE: 1/15/02 SUB. ~~Purchase~~PURCHASE #1 6,974 8/24/01 113,867,436 ~~Sub~~DAYS OF INTEREST FOR PERIOD: 29 SUB. ~~Purchase~~PURCHASE #2 0 DAYS IN COLLECTION PERIOD: 31 --------------------------------------------------------- MONTHS SEASONED: 5 TOTAL 59,746 $928,961,749 ---------------------------------------------- -------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- I. MONTHLY PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION: --------------------------------------------------------------------------------------------------------------------------------- {1} Beginning of period Aggregate Principal Balance {1} $855,458,738.61 ------------------- {2} Purchase of Subsequent Receivables {2} 0.00 ------------------- Monthly Principal Amounts {3} Regular Principal Received {3} 9,422,148.18 ------------------ {4} Prepaid Principal Received {4} 4,421,412.06 ------------------ {5} Defaulted Receivables Deposit Amount {5} 3,579,789.92 ------------------ {6} Principal Portion of Repurchased Receivables {6} 20,615.47 ------------------ {7} Cram Down Losses and Other Non-Cash Adjustments {7} 5,632.27 ------------------ {8} Total 59Monthly Principal Amounts {8} 17,~~746~~449,597.90 ------------------- {9} End of period Aggregate Receivable Balance {9} $~~928~~838,~~961~~009,~~749~~140.71 =================== {10} Pool Factor ( {9} / Original Pool Balance) {10} 0.9021 -------------------------------------------------------------------------------------------------------------------------- II. MONTHLY PERIOD NOTE BALANCE CALCULATION: --------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------- CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4 CLASS B TOTAL --------- --------- --------- --------- I.------- ~~MONTHLY~~----- ~~PERIOD~~{11} ~~RECEIVABLES~~Original ~~PRINCIPAL~~Note ~~BALANCE~~Balance ~~CALCULATION:~~{11} $126,500,000 $234,500,000 $241,500,000 $247,500,000 $60,382,514 $910,382,514 ----------------------------------------------------------------------------------------------- {12} Beginning of period Note Balance {12} 59,244,746 234,500,000 241,500,000 247,500,000 29,941,056 $812,685,802 ---------------------------------- ~~{1} Beginning of period Aggregate Principal Balance {1} $872,423,924.07~~ --------------------- ~~{2} Purchase of Subsequent Receivables {2} 0.00~~ --------------------- ~~Monthly Principal Amounts {3} Regular Principal Received {3} 9,677,163.85~~ ------------------- {413} ~~Prepaid~~Noteholders' Principal ~~Received~~Distributable Amount {413} 415,~~614~~966,~~633.50~~382 0 0 0 1,134,224 17,100,606 {14} Noteholders' Accelerated Principal Amount {14} 0 0 0 0 0 0 {15} Optional Note Redemption Principal Amount {15} 0 0 0 0 0 0 ------------------ ~~{5} Defaulted Receivables Deposit Amount {5} 2,647,594.93~~ ------------------ ~~{6} Principal Portion of Repurchased Receivables {6} 21,994.12~~ ------------------ ~~{7} Cram Down Losses and Other Non~~-~~Cash Adjustments {7} 3,799.06~~ ------------------ ~~{8} Total Monthly Principal Amounts {8} 16,965,185.46~~ ---------------------- {916} End of period ~~Aggregate~~Note ~~Receivable~~ Balance {916} 43,278,364 234,500,000 241,500,000 247,500,000 28,806,832 $~~855~~795,~~458~~585,~~738.61~~196 =============================================================================================== {1017} Note Pool ~~Factor~~Factors ( {916} / ~~Original~~{11} ~~Pool Balance~~) {1017} 0.~~9209~~3421 01.0000 1.0000 1.0000 0.4771 0.8739 ===============================================================================================

----------------------------------------------------------------------------------------------------------------------------------- IIIII. ~~MONTHLY~~RECONCILIATION ~~PERIOD~~OF ~~NOTE~~PRE-FUNDING ~~BALANCE CALCULATION~~ACCOUNT: ----------------------------------------------------------------------------------------------------------------------------------- {18} Beginning of period Pre-Funding Account balance {18} $0.00 -------------------~~--------------------------------------------------~~ ~~Class~~{19} ~~A-1~~Purchase ~~Class~~of ~~A-2~~Subsequent ~~Class~~Receivables ~~A-3~~{19} ~~---------~~0.00 --------- --------- {1120} ~~Original~~Investment ~~Note~~Earnings ~~Balance~~ {1120} ~~$126,500,000~~0.00 ~~$234,500,000 $241,500,000~~ ------------------ {21} Investment Earnings Transfer to Collections Account {21} 0.00 ------------------~~----------------------------------~~ {1222} ~~Beginning~~Payment of ~~period~~Mandatory ~~Note~~Prepayment ~~Balance~~Amount {1222} ~~74,767,891~~0.00 ~~234,500,000 241,500,000~~ ------------------~~----------------------------------------------------~~ {1323} ~~Noteholders'~~End ~~Principal~~of ~~Distributable~~period ~~Amount~~Pre-Funding ~~{13}~~Account ~~15,523,145~~balance ~~0 0~~ {1423} ~~Noteholders' Accelerated Principal Amount {14}~~ $0.00 ~~0 0 {15} Optional Note Redemption Principal Amount {15} 0 0 0~~ ---------------------------------------------------------------------- {16} End of period Note Balance {16} 59,244,746 234,500,000 241,500,000 ====================================================================== {17} Note Pool Factors ( {16} / {11} ) {17} 0.4683 1.0000 1.0000 ======================================================================

-------------------------------------------------------------------------------------------------------------------------- IIIV. ~~MONTHLY~~RECONCILIATION ~~PERIOD~~OF ~~NOTE~~COLLECTION ~~BALANCE~~ACCOUNT: ~~CALCULATION~~-------------------------------------------------------------------------------------------------------------------------- AVAILABLE FUNDS: {24} Scheduled and Prepayment Principal Cash Received {24} 13,843,560.24 ---------------- {25} Liquidation Proceeds Collected during period {25} 1,246,907.13 ---------------- {26} Receivables Repurchase Amounts {26} 20,615.47 ---------------- {27} Interest and Fees Collected on Receivables {27} 11,812,749.52 ---------------- {28} Recoveries on Previously Defaulted Receivables {28} 54,178.80 ---------------- {29} Advances from the Reserve Fund {29} 0.00 ---------------- Investment Earnings on Trust Accounts {30} Collection Account {30} 35,316.32 ---------------- {31} Transfer from Reserve Fund {31} 15,816.30 ---------------- {32} Transfer from Pre-Funding Account {32} 0.00 ---------------- {33} Optional Note Redemption Prepayment Amount {33} 0.00 ---------------- {34} Total Available Funds {34} 27,029,143.78 -------------- DISTRIBUTIONS: {35} Trustees' Fees {35} 0.00 ---------------- {36} Servicing Fees {36} 2,022,213.43 ---------------- Class A Noteholders' Note Interest -4------------------------------------------------------------------------------------- ~~Class~~BEGINNING BINTEREST ~~TOTAL~~CALCULATED CLASS NOTE BALANCE RATE DAYS DAYS BASIS INTEREST -------------------------------------------------------------------------------------- {37} A-1 $59,244,746 3.75000% 29 Actual days/360 $178,969 {37} 178,968.50 ---------------- {38} A-2 $234,500,000 4.14000% 30 30/360 $809,025 {38} 809,025.00 ---------------- {1139} ~~Original~~A-3 ~~Note~~$241,500,000 ~~Balance~~4.83000% 30 30/360 $972,038 {39} 972,037.50 ---------------- {40} A-4 $247,500,000 5.40000% 30 30/360 $601,~~382~~113,~~514~~750 ~~$910~~{40} 1,~~382~~113,~~514~~750.00 -------------------------------------------------------------------------------------- ---------------- {1241} ~~Beginning~~Note ofInsurer ~~period~~Premiums {41} 195,686.19 ---------------- {42} Reimbursement Obligations due Note ~~Balance~~Insurer ~~247,500,000~~{42} 350.00 ---------------- Class B Noteholders' Primary Note Interest ------------------------------------------------------------------------------------- BEGINNING INTEREST CALCULATED CLASS NOTE BALANCE RATE DAYS DAYS BASIS INTEREST ------------------------------------------------------------------------------------- {43} Class B $29,~~104~~941,~~886~~056 7.92000% 30 30/360 $~~833~~197,~~372~~611 {43} 197,~~777~~610.97 ------------------------------------------------------------------------------------- ------------- {1344} Class A Noteholders' Principal ~~Distributable~~Payment Amount 0{44} 115,~~102~~966,~~737~~382.08 16------------- {45} Accrued and Unpaid Premium and Reimbursement Obligations,~~625~~ due Note Insurer {45} 0.00 ------------- {46} Deposit to Reserve Account,~~882~~ to Required Level {1446} ~~Noteholders~~0.00 ------------- {47} Class A Noteholder's Accelerated Principal Amount 0(if 4in an event of default under the indenture or,~~061~~ under certain circumstances,~~093~~ 4an insurance agreement event of default {47} 0.00 ------------- {48} Class B Noteholders' Principal Payment Amount {48} 1,~~061~~134,~~093~~223.86 ------------- {1549} ~~Optional~~Class ~~Note~~B ~~Redemption~~Noteholder's Accelerated Principal Amount 0{49} 0.00 0 ------------- {50} Optional Note Redemption Amount {50} 0.00 ------------- {51} Other Amounts Due to the Trustees {51} 0.00 ------------- {52} Servicer Transition Expenses {52} 0.00 ------------- {53} Indenture Trustee Title Expenses {53} 0.00 ------------- {1654} ~~End~~Class ofB ~~period~~Excess ~~Note~~Interest ~~Balance~~{54} ~~247,500,000~~0.00 ~~29,941,056~~------------- ~~$812,685,802 =========================================================~~ {1755} ~~Note~~Distribution ~~Pool~~to ~~Factors~~the (equity certificate holder {1655} /4,439,246.25 ------------- {1156} )Total ~~1.0000~~Distributions ~~0.4959~~{56} 027,029,143.~~8927~~78 ===============~~==========================================~~

------------------------------------------------------------------------------------------------------------------------------- ~~III~~V. RECONCILIATION OF ~~PRE-FUNDING~~RESERVE ACCOUNT: ------------------------------------------------------------------------------------------------------------------------------- {1857} ~~Beginning~~BEGINNING ofOF ~~period~~PERIOD ~~Pre-Funding~~RESERVE ~~Account~~ACCOUNT ~~balance~~BALANCE {1857} $09,103,825.0014 ------------------- DEPOSITS TO RESERVE ACCOUNT {1958} ~~Purchase~~Investment ofEarnings {58} 15,816.30 ------------------ {59} Deposits Related to Subsequent Receivables Purchases {1959} 0- ------------------ {60} Total Additions {60} $15,816.0030 ------------------- PRIORITY WITHDRAWALS FROM RESERVE ACCOUNT {2061} Transfer of Investment Earnings to Collection Account {2061} 0(15,816.0030) ------------------ {62} Advances to Collection Account - Priority (1) through (7) {2162} ~~Investment~~- ~~Earnings~~------------------ ~~Transfer~~{63} toTotal ~~Collections~~Priority Withdrawals {63} ($15,816.30) ------------------- {64} RESERVE ACCOUNT SUBTOTAL {64} $9,103,825.14 ------------------- {65} Reserve Account Requirement {2165} 9,103,825.14 ------------------ {66} Reserve Account Shortfall / Excess {66} 0.00 ------------------- {2267} ~~Payment~~DEPOSIT ofTO ~~Mandatory~~RESERVE ~~Prepayment~~FUND, ~~Amount~~TO REQUIRED LEVEL {2267} $0.00 ------------------- {2368} ~~End~~Reserve ofAccount ~~period~~Primary ~~Pre~~Balance {68} $9,103,825.14 -~~Funding~~------------------ SUBORDINATE WITHDRAWALS FROM RESERVE ACCOUNT {69} Advances to Collection Account ~~balance~~- Priority (10), (16) and (17) (limited to excess amounts on deposit) {2369} ~~$0.00~~- ------------------ {70} Advances to Collection Account - Priority (12) through (15) {70} - ------------------ {71} Return of Excess to Equity Certificate Holder {71} - ------------------ {72} Total Subordinate Withdrawals {72} - ------------------- {73} END OF PERIOD RESERVE ACCOUNT BALANCE {73} 9,103,825.14 ===================

----------------------------------------------------------------------------------------------------------------------------------- IVVI. ~~RECONCILIATION~~CALCULATION OF ~~COLLECTION~~RESERVE ACCOUNT: REQUIREMENT ----------------------------------------------------------------------------------------------------------------------------------- ~~AVAILABLE~~IF ~~FUNDS:~~PRIOR ~~{24}~~TO ~~Scheduled~~ACCELERATED ~~and~~RESERVE ~~Prepayment~~FUND ~~Principal~~EVENT: ~~Cash~~Lesser ~~Received~~of: {2474} ~~14,291,797.35~~(1)Ending ~~---------------~~Aggregate ~~{25}~~Note ~~Liquidation~~Balance ~~Proceeds Collected during period~~ {2574} ~~766~~795,~~592.20 --------------- {26} Receivables Repurchase Amounts {26} 21~~585,~~994~~195.1274 --------------- ~~{27} Interest and Fees Collected on Receivables {27} 12,275,045.93~~ -or--~~------------~~ {2875} ~~Recoveries on Previously Defaulted Receivables {28} 4,598~~(2)1.~~43 --------------- {29} Advances from the Reserve Fund {29}~~ 0~~.00~~% ~~---------------~~of ~~Investment~~98% ~~Earnings~~of onOriginal ~~Trust~~Receivable ~~Accounts~~Balance {3075} ~~Collection Account {30} 40~~9,~~134.35 --------------- {31} Transfer from Reserve Fund {31} 24~~103,~~134~~825.3014 --------------- {3276} ~~Transfer~~REQUIREMENT ~~from Pre-Funding Account~~ {3276} ~~0.00 --------------- {33} Optional Note Redemption Prepayment Amount {33} 0.00 --------------- {34} Total Available Funds {34} 27~~9,~~424~~103,~~296~~825.6814 --------------- ~~DISTRIBUTIONS:~~CELERATED ~~{35}~~RESERVE ~~Trustees'~~FUND ~~Fees~~EVENT: ~~{35}~~Lesser ~~0.00~~of: ~~---------------~~ {3677} ~~Servicing~~(1)Ending ~~Fees~~Aggregate ~~{36} 2,068,492.55 --------------- Class A Noteholders'~~ Note ~~Interest ------------------------------------------------------------------------------- Beginning Interest Calculated Class Note~~ Balance ~~Rate Days Days Basis Interest -------------------------------------------------------------------------------~~ {3777} ~~A-1 $74~~795,~~767~~585,~~891 3~~195.~~75000%~~74 ~~32 Actual days/360 $249,226 {37} 249,226.30~~ -------------- -or- ~~{38} A~~- (2)Greater ~~$234,500,000~~of: ~~4.14000% 30 30/360 $809,025~~ {3878} ~~809,025.00~~(a) ~~---------------- {39} A-~~3 ~~$241,500,000 4~~.~~83000~~0% 30of ~~30/360~~98% ~~$972,038~~of ~~{39}~~Original ~~972,037.50~~Receivable ~~----------------~~Balance {4078} ~~A-4 $247~~27,~~500~~311,~~000 5~~475.~~40000% 30 30/360 $1,113,750 {40} 1,113,750.00 ------------------------------------------------------------------------------- ---------------- {~~41} ~~Note Insurer Premiums {41} 199,566.97~~ -------------~~---~~ {4279} ~~Reimbursement Obligations due Note Insurer {42} 0.00~~ -or--~~-------------~~ Class B Noteholders' Primary Note Interest ----------------------------------------------------------------------------- Beginning Interest Calculated Class Note Balance Rate Days Days Basis Interest ----------------------------------------------------------------------------- {4379} ~~Class B $35~~45,~~104~~086,~~886 7~~567.~~92000%~~79 ~~30 30/360 $231,692 {43} 231,692.25~~ -------------~~----------------------------------------------------------------~~ ~~----------------~~ {4480} ~~Class~~(b) ~~A Noteholders' Principal Payment Amount {44} 15,523,144~~6.~~70 ---------------- {45} Accrued and Unpaid Premium and Reimbursement Obligations, due Note Insurer {45}~~ 0~~.00~~% ~~---------------- {46} Deposit to Reserve Account, to Required Level {46} 0.00 ---------------- {47} Class A Noteholder's Accelerated Principal Amount (if in an event~~ of ~~default~~98% ~~under the indenture or, under certain circumstances, an insurance agreement event~~ of ~~default)~~Current ~~{47}~~Outstanding ~~0.00 ---------------- {48}~~ Class BA ~~Noteholders'~~Note Principal ~~Payment~~Balance ~~Amount~~ {4880} 145,~~102~~086,~~737~~567.0579 -------------~~---~~ {4981} ~~Class~~REQUIREMENT ~~B Noteholder's Accelerated Principal Amount~~ {4981} 445,~~061~~086,~~093~~567.4379 ---------------- {50} Optional Note Redemption Amount {50} 0.00 ---------------- {51} Other Amounts Due to the Trustees {51} 0.00 ---------------- {52} Servicer Transition Expenses {52} 0.00 ---------------- {53} Indenture Trustee Title Expenses {53} 0.00 ---------------- {54} 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 ===============

----------------------------------------------------------------------------------------------------------------------------------- VVII.LATION ~~RECONCILIATION~~ OF ~~RESERVE~~PRINCIPAL ~~ACCOUNT:~~PAYMENT AMOUNTS ----------------------------------------------------------------------------------------------------------------------------------- {5782} ~~BEGINNING~~Principal OFCollections ~~PERIOD RESERVE ACCOUNT BALANCE~~ {5782} $917,~~103~~449,~~825~~597.1490 ------------------ ~~DEPOSITS~~{83} TOEnd ~~RESERVE~~of ~~ACCOUNT~~Period ~~{58}~~Aggregate ~~Investment~~Receivables ~~Earnings~~Balance {5883} 24838,~~134~~009,140.3071 ------------------ {5984} ~~Deposits~~Required ~~Related~~O/C toMargin ~~Subsequent~~(as ~~Receivables~~Specified ~~Purchases~~in Trust Indenture) {5984} -16,760,182.81 ------------------ {6085} ~~Total~~Required ~~Additions~~Maximum Ending Aggregate Class A Principal Balance (line {6083} ~~$24~~- {84}) {85} 821,~~134~~248,957.3090 ------------------ ~~PRIORITY WITHDRAWALS FROM RESERVE ACCOUNT~~ {6186} ~~Transfer~~Class ofA ~~Investment~~Aggregate ~~Earnings~~Oustanding toPrincipal ~~Collection~~Balance ~~Account~~(Start of Period) {6186} ~~(24~~782,~~134~~744,745.~~30)~~83 ------------------ Less: {6287} ~~Advances~~Allocable to ~~Collection~~Class ~~Account~~A -Notes ~~Priority~~ (1)line ~~through~~{82} (7X 91.5%) {6287} -15,966,382.08 ------------------ {6388} ~~Total~~Preliminary ~~Priority~~Class ~~Withdrawals~~A Ending Balance {6388} ~~($24~~766,~~134~~778,363.~~30)~~75 ------------------ {6489} ~~RESERVE~~Payment ~~ACCOUNT~~Amount ~~SUBTOTAL~~Necessary to Reduce Class A Balance to Required Level (line {6488}-{85} ~~$9,103,825~~{89} 0.1400 ------------------ {6590} ~~Reserve~~Class ~~Account~~A ~~Requirement~~Principal Payment Amount (line {6587} 9+ {89}) {90} 15,~~103~~966,~~825~~382.1408 ------------------- {6691} ~~Reserve~~Class ~~Account~~B ~~Shortfall~~Principal /Payment ~~Excess~~Amount (line {6682} 0X 6.005%) {91} 1,134,223.86 ------------------- ~~{67} DEPOSIT TO RESERVE FUND, TO REQUIRED LEVEL {67} $0.00~~ ---------------- ~~{68} RESERVE ACCOUNT PRIMARY BALANCE {68} $9,103,825.14~~ ---------------- ~~SUBORDINATE WITHDRAWALS FROM RESERVE ACCOUNT {69} Advances to Collection Account~~ - ~~Priority (10), (16) and (17) (limited to excess amounts on deposit) {69}~~ - ---------------- ~~{70} Advances to Collection Account~~ - ~~Priority (12) through (15) {70}~~ - ---------------- ~~{71} Return of Excess to Equity Certificate Holder {71}~~ - ---------------- ~~{72} Total Subordinate Withdrawals {72}~~ - ---------------- ~~{73} END OF PERIOD RESERVE ACCOUNT BALANCE {73} 9,103,825.14 ================~~-----------------------

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: ------------------ Name: Stuart Levy Title: Manager of Global Trust Reporting Date: 01/15/02 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: 12/1/01 MONTHLY PERIOD ENDING: 12/31/01 PREV. DISTRIBUTION/CLOSE DATE: 12/17/01 DISTRIBUTION DATE: 1/15/02 DAYS OF INTEREST FOR PERIOD: 29 DAYS IN COLLECTION PERIOD: 31 MONTHS SEASONED: 5 -------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------ VII. ~~CALCULATION~~MONTHLY OFPERIOD ~~RESERVE~~NOTE ~~ACCOUNT~~BALANCE ~~REQUIREMENT ----------------------------------------------------------------------------------------------------------------------------------- If Prior to Accelerated Reserve Fund Event~~CALCULATION: ~~-------------------------------------------~~CLASS ~~Lesser of: {74} (~~A-1~~)Ending~~ ~~Aggregate~~CLASS ~~Note Balance {74} 812,685,801.68~~ A-~~---------------- -or-- {75} (~~2~~)1.0%~~ ofCLASS ~~98%~~A-3 ofCLASS ~~Original~~A-4 ~~Receivable~~CLASS ~~Balance~~B ~~{75}~~TOTAL ~~9,103,825.14~~ ---------~~--------~~ ---------~~--------~~ ~~{76} Requirement {76} 9,103,825.14~~ ---------~~--------~~ ~~If Accelerated Reserve Fund Event:~~ --------- ------- -----~~-------------~~ ~~Lesser of:~~ {771} ~~(1)Ending~~Original ~~Aggregate~~ Note Balance {771} ~~812~~$126,~~685~~500,~~801.68~~000 ~~-----------------~~$234,500,000 ~~-or-- (2)Greater of: {78} (a) 3.0% of 98% of Original Receivable Balance {78} 27~~$241,~~311~~500,~~475.41~~000 ~~--------------- {79} -or-- {79} 46~~$247,~~025~~500,~~391.05~~000 ~~--------------- {80} (b) 6.0% of 98% of Current Outstanding Class A Note Principal Balance {80} 46~~$60,~~025~~382,~~391.05~~514 ~~--------------- ----------------- {81} Requirement {81} 46~~$910,~~025~~382,~~391.05~~514 ----------------- -------------------------------------------------------------------------------------------------------------------~~-----------------~~ ~~VII. CALCULATION OF PRINCIPAL PAYMENT AMOUNTS ------------------------------------------------------------------------------------------------------------------------------------~~ {822} ~~Principal~~Beginning ~~Collections {82} 16,965,185.46 --------------- {83} End~~ of ~~Period~~period ~~Aggregate~~Note ~~Receivables~~ Balance {832} ~~855~~$59,~~458~~244,~~738.61~~746 ~~---------------~~$234,500,000 ~~{84}~~$241,500,000 ~~Required~~$247,500,000 ~~O/C~~$29,941,056 ~~Margin (as Specified in Trust Indenture) {84} 17~~$812,~~109~~685,~~174.77~~802 ~~---------------~~ {853} ~~Required~~End ~~Maximum~~of ~~Ending~~period ~~Aggregate~~Note ~~Class A Principal~~ Balance ~~(line~~ {833} -$43,278,364 ~~{84})~~$234,500,000 ~~{85} 838~~$241,~~349~~500,~~563.84~~000 ~~--------------- {86} Class A Aggregate Oustanding Principal Balance (Start of Period) {86} 798~~$247,~~267~~500,~~890.53~~000 ~~--------------- Less: {87} Allocable to Class A Notes (line {82} X 91.5%) {87} 15~~$28,~~523~~806,~~144.70~~832 ~~--------------- {88} Preliminary Class A Ending Balance {88} 782~~$795,~~744~~585,~~745.83~~196 ~~---------------~~================================================================================== {894} ~~Payment~~Note ~~Amount~~Pool ~~Necessary~~Factors ~~to Reduce Class A Balance to Required Level (line~~ {883} -/ {851}) {894} 0.00342 ~~--------------- ----------------- {90} Class A Principal Payment Amount (line {87} + {89}) {90} 15,523,144~~1.70000 ~~----------------- ----------------- {91} Class B Principal Payment Amount (line {82} X 6~~1.~~5%)~~000 ~~{91}~~ 1~~,102,737~~.05000 ~~-----------------~~0.477 ~~------------------------------------------------------------------------------------------------------------------------------------~~0.874 ~~------------------------------------------------------------------------------------------------------------------------------------~~==================================================================================

-------------------------------------------------------------------------------- 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} 2,951,959 ------------------ {26} Receivables becoming Defaulted Receivables during period {26} $3,579,790 -------------- {27} Cram Down Losses and other non-cash Adjustments occurring during period {27} 5,632 -------------- {28} Liquidation Proceeds collected during period {28} 1,246,907 -------------- {29} Recoveries on Defaulted Receivables during period {29} 54,179 -------------- {30} Net Losses during period {26} - {27} - {28} - {29} {30} 2,273,072 -------------- {31} Net Losses since Initial Cut-off Date (End of Period) {31} 5,225,031.09 ------------------ {32} Cumulative Net Loss Rate ({31}) / {Original Aggregate Principal Balance} {32} 0.56% ------------------

--------------------------------------------------------------------------------------------------------------------------------- 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} 1,071 ---------------- {34} Beginning of Period Loans Outstanding {34} 57,298 ---------------- {35} Extension Rate {33} divided by {34} {35} 1.86% ----------------- {36} Previous Monthly Extension Rate {36} 1.31% ----------------- {37} Second previous Monthly Extension Rate {37} 1.03% ----------------- {38} Average Extension Rate ({35} +{36} +{37}) / 3 {38} 1.40% -----------------

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

Filing Compare · CAPITAL ONE AUTO FINANCE TRUST 2001-A