8-K 1 w58484e8-k.txt CURRENT REPORT 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: March 12, 2002 -------------- CAPITAL ONE AUTO FINANCE TRUST 2001-A 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 February 2002 Monthly Servicer Report to investors were distributed March 12, 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 thereunto duly authorized. CAPITAL ONE AUTO FINANCE TRUST 2001-A By: CAPITAL ONE BANK Servicer By: /s/ David M. Willey ----------------------- David M. Willey Senior Vice President of Corporate Financial Management Date: March 12, 2002 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: 02/01/2002 MONTHLY PERIOD ENDING: 02/28/2002 PREV. DISTRIBUTION/CLOSE DATE: 02/15/2002 DISTRIBUTION DATE: 03/15/2002 DAYS OF INTEREST FOR PERIOD: 28 DAYS IN COLLECTION PERIOD: 28 MONTHS SEASONED: 7 ---------------------------------------------------------

------------------------------------------------------------------------------------------------------------------- I. MONTHLY PERIOD NOTE BALANCE CALCULATION: CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4 --------- --------- ~~I. MONTHLY PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION:~~ --------- --------- {1} Original Note Balance {1} $126,500,000 $234,500,000 $241,500,000 $247,500,000 ------------------------------------------------------------------------------------------------------------------- {12} Beginning of period ~~Aggregate~~Note ~~Principal~~Balance {2} $23,796,329 $234,500,000 $241,500,000 $247,500,000 {3} End of period Note Balance {13} $~~838~~0 $231,~~009~~281,~~140~~176 $241,500,000 $247,500,000 =========================================================== {4} Note Pool Factors {3} / {1} {4} - 0.71986 1.000 1.000 =========================================================== ----------------- ~~{2} Purchase of Subsequent Receivables {2} 0.00~~ ------------------------------------------------------------------- ~~Monthly~~I. ~~Principal~~MONTHLY ~~Amounts~~PERIOD ~~{3}~~NOTE ~~Regular~~BALANCE ~~Principal~~CALCULATION: ~~Received~~CLASS ~~{3}~~B ~~10,187,807.52~~TOTAL ------- ------- {41} ~~Prepaid~~Original ~~Principal~~Note ~~Received~~Balance {41} 4$60,~~432~~382,~~067.88~~514 $910,382,514 -------------- ~~{5} Defaulted Receivables Deposit Amount {5} 6,626,612.91~~ -------------- ~~{6} Principal Portion of Repurchased Receivables {6} 18,716.11~~ -------------- ~~{7} Cram Down Losses and Other Non~~-~~Cash Adjustments {7} 26,636.46~~ -------------- ~~{8} Total Monthly Principal Amounts {8} 21,291,840.88~~ --------------------------- {92} ~~End~~Beginning of period ~~Aggregate~~Note ~~Receivable~~Balance {2} $27,422,862 $774,719,192 {3} End of period Note Balance {93} $~~816~~25,~~717~~503,~~299.83~~753 $745,784,929 ============================ {104} Note Pool ~~Factor~~Factors ( {93} / ~~Original~~{1} ~~Pool Balance)~~ {104} 0.~~8792~~422 0.819 ============================

----------------------------------------------------------------------------------------------------------------------------- II. MONTHLY PERIOD ~~NOTE~~AND ~~BALANCE~~CUMULATIVE NUMBER OF RECEIVABLES CALCULATION: --------------------------------------------------------------------------------------------------------------------------- --~~----------------------------------------------------------------~~ ~~CLASS A~~-~~1 CLASS A~~-~~2 CLASS A~~-~~3 CLASS A~~-4 --------- --------- ---~~------~~ ~~---------~~CUMULATIVE ~~{11}~~PERIOD ~~Original Note Balance {11} $126,500,000 $234,500,000 $241,500,000 $247,500,000~~ -------------------------~~-----------------------------------------~~ {125} Beginning number of ~~period~~Receivables ~~Note Balance~~ {125} ~~43,278,364~~0 ~~234~~55,~~500,000~~807 ~~241,500,000 247,500,000 ------------------------------------------------------------------~~ {136} ~~Noteholders'~~Number ~~Principal~~of ~~Distributable~~Subsequent ~~Amount~~Receivables Purchased {136} 196,~~482,034~~974 0 ~~0 0~~ {147} ~~Noteholders'~~Number ~~Accelerated~~of ~~Principal~~Receivables ~~Amount~~Defaulted ~~{14}~~during ~~0 0 0 0 {15} Optional Note Redemption Principal Amount {15} 0 0 0 0 ------------------------------------------------------------------ {16} End of~~ period ~~Note Balance~~ {167} 231,~~796,329~~604 ~~234,500,000~~515 ~~241,500,000 247,500,000 ==================================================================~~ {178} ~~Note~~Number ~~Pool~~of ~~Factors~~Receivables (becoming ~~{16}~~Purchased /Receivables ~~{11}~~during )period {178} ~~0.1881~~ 1~~.0000~~,195 ~~1.0000~~487 1.0000 ================================================================== ------------------------------------------------------------------------------------------------------------------------------------ II. MONTHLY PERIOD NOTE BALANCE CALCULATION: ------------------------------------------------------------------------------------------------------------------------------------ --------------------------------------- CLASS B TOTAL ------- ----- {119} ~~Original~~Number ~~Note~~of ~~Balance~~Receivables ~~{11}~~paid ~~$60,382,514~~off ~~$910,382,514~~during ~~--------------------------------------- {12} Beginning of~~ period ~~Note Balance~~ {129} 282,~~806,832~~540 ~~$795,585,196~~398 -------------------------~~--------------~~ {1310} ~~Noteholders'~~Ending ~~Principal~~number ~~Distributable~~of ~~Amount~~Receivables {1310} 154,~~383,970~~407 2054,~~866,004~~407 ~~{14} Noteholders' Accelerated Principal Amount {14} 0 0 {15} Optional Note Redemption Principal Amount {15} 0 0~~ --------------------------------------- {16} End of period Note Balance {16} 27,422,862 $774,719,192 ======================================= {17} Note Pool Factors ( {16} / {11} ) {17} 0.4542 0.8510 =======================================

-----------------------------------------------------------------------------------------------------------------------------~~-------~~ III. ~~RECONCILIATION~~STATISTICAL OFDATA: ~~PRE-FUNDING~~(CURRENT ~~ACCOUNT:~~AND HISTORICAL) ----------------------------------------------------------------------------------------------------------------------------- ------- ~~{18} Beginning of period Pre~~-~~Funding Account balance {18} $0.00~~ ----------------- ~~{19} Purchase of Subsequent Receivables {19} 0.00~~ -------------- ~~{20}~~ORIGINAL ~~Investment~~PREV. ~~Earnings~~MONTH ~~{20}~~CURRENT ~~0.00~~ -------------- ~~{21} Investment Earnings Transfer to Collections Account {21} 0.00~~ ------------------------- {2211} ~~Payment~~Weighted Average APR of ~~Mandatory~~the ~~Prepayment~~Receivables ~~Amount~~{11} 17.37% 17.37% 17.35% {2212} 0Weighted Average Remaining Term of the Receivables {12} 61.0022 ~~--------------~~56.12 55.19 {2313} ~~End~~Weighted Average Original Term of ~~period~~Receivables ~~Pre-Funding~~{13} ~~Account~~64.74 ~~balance~~64.74 64.74 {2314} Average Receivable Balance {14} $~~0.00~~15,549 $14,589 $14,421 ---------------------------------------

-----------------------------------------------------------------------------------------------------------------------------~~-------~~ IV. ~~RECONCILIATION OF COLLECTION ACCOUNT~~DELINQUENCY: -----------------------------------------------------------------------------------------------------------------------------~~-------~~ ~~AVAILABLE~~Receivables ~~FUNDS:~~with ~~{24}~~ Scheduled ~~and~~Payment ~~Prepayment~~delinquent ~~Principal Cash Received {24} 14,619,875.40~~ -------------- ~~{25} Liquidation Proceeds Collected during period {25} 1,981,294.88~~ -------------- ~~{26} Receivables Repurchase Amounts {26} 18,716.11~~ ----------~~----~~ ~~{27}~~UNITS ~~Interest~~DOLLARS ~~and~~PERCENTAGE ~~Fees Collected on Receivables {27} 12,659,378.11~~ -------------- ~~{28} Recoveries on Previously Defaulted Receivables {28} 136,663.72~~ -------------- ~~{29} Advances from the Reserve Fund {29} 0.00~~ ---------- {15} 31-~~---~~60 ~~Investment~~days ~~Earnings~~{15} on2,786 ~~Trust~~41,885,137 ~~Accounts~~5.13% {3016} ~~Collection~~61-90 ~~Account~~days {3016} 32756 11,~~353~~519,727 1.6241% ~~--------------~~ {3117} ~~Transfer~~91-120 ~~from~~days ~~Reserve Fund~~ {3117} 13236 3,~~763~~442,457 0.1442% -------------- ~~{32} Transfer from Pre~~-~~Funding Account {32} 0.00~~ -------------- ~~{33} Optional Note Redemption Prepayment Amount {33} 0.00~~ ---------~~-----~~ {3418} ~~Total~~Receivables ~~Available~~with ~~Funds~~Scheduled Payment delinquent more than 60 days at end of period {3418} 29992 $14,~~462~~962,~~044~~184 1.9883% ----------------- ~~DISTRIBUTIONS: {35} Trustees' Fees {35} 0.00~~ -------------- ~~{36} Servicing Fees {36} 2,028,880.74~~ -------~~-------~~

~~Class A Noteholders' Note Interest~~ ----------------------------------------------------------------------------------------------------------------------------- ~~BEGINNING~~V. ~~INTEREST~~PERFORMANCE ~~CALCULATED~~TESTS: ~~CLASS NOTE BALANCE RATE DAYS DAYS BASIS INTEREST~~ ----------------------------------------------------------------------------------------------------------------------------- DELINQUENCY RATIO {3719} ~~A-1~~Receivables ~~$43,278,364~~with ~~3.75000%~~Scheduled 31Payment ~~Actual~~delinquent more than 60 days~~/360~~ ~~$139,753~~at end of period (line {3818}) ~~A-2~~{19} $~~234~~14,~~500~~962,~~000~~184 ~~4.14000%~~-------------------- 30{20} ~~30/360~~Beginning ~~$809,025~~of period Principal Balance {3920} ~~A-3 $241~~816,~~500~~717,~~000~~300 4-------------------- {21} Delinquency Ratio {16} + {17} divided by {20} {21} 1.~~83000~~83% 30------------------- ~~30/360~~{22} ~~$972,038~~Previous Monthly Period Delinquency Ratio {4022} A2.31% -4------------------ ~~$247,500,000~~{23} 5Second previous Monthly Period Delinquency Ratio {23} 2.~~40000~~26% 30------------------- 30{24} Average Delinquency Ratio ({21} + {22} + {23}) /~~360~~ ~~$1,113,750~~3 {24} 2.13% ------------------- ---------------------------------------------------------------------------------------------- ~~Class A Noteholders' Note Interest~~ -------- ~~CLASS~~ --------------- ~~{37}~~Compliance A-with Accelerated Reserve Fund Trigger? (Average Delinquency Ratio is less than or equal to 3% months 1-12, ~~{37}~~4% ~~139~~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,~~753.05~~ 5% months 13-24 and 6% thereafter) Yes ------------- ~~{38} A~~-~~2 {38} 809,025.00~~ -------------- ~~{39} A~~-~~3 {39} 972,037.50~~ -------------- ~~{40} A~~-~~4 {40} 1,113,750.00~~ -------- -----------------------------------------------------------------

~~Class~~CUMULATIVE BNET ~~Noteholders'~~CHARGE-OFF ~~Primary~~RATE ~~Note~~{25} ~~Interest~~Net Losses since Initial Cut-off Date (Beginning of Period) {25} 9,707,049 ------------------ {26} Receivables becoming Defaulted Receivables during period {26} $7,270,208 ---------------- {27} Cram Down Losses and other non-cash Adjustments occurring during period {27} 23,473 ---------------- {28} Liquidation Proceeds collected during period {28} 2,529,062 ---------------- {29} Recoveries on Defaulted Receivables during period {29} 340,327 ---------------- ~~BEGINNING~~{30} ~~INTEREST~~Net ~~CALCULATED~~Losses ~~CLASS~~during ~~NOTE~~period ~~BALANCE~~{26} ~~RATE~~- ~~DAYS~~{27} ~~DAYS~~- ~~BASIS~~{28} ~~INTEREST~~- {29} {30} 4,377,346 ---------------- {31} Net Losses since Initial Cut-off Date (End of Period) {31} 14,084,395.33 ------------------ {32} Cumulative Net Loss Rate ({31}) / {Original Aggregate Principal Balance} {32} 1.52% ------------------ --------------------------------------------------------------------------------------------------------------------- ~~{43}~~Compliance ~~Class~~with BAccelerated ~~$28,806,832~~Reserve 7Fund Trigger? Cumulative Net Loss Rate is less than or equal to: 0.~~92000%~~04625 30Yes ~~30/360~~Complaince ~~$190,125~~with ~~{43}~~Insurance ~~190,125~~Agreement Event of Default? Cumulative Net Loss Rate is less than or equal to: 0.090525 Yes -------------------------------------------------------------------------- -------------------------------------------

EXTENSION RATE {33} Number of Receivables extended during current period {33} 785 ---------------- {34} Beginning of Period Loans Outstanding {34} 55,807 ---------------- {35} Extension Rate {33} divided by {34} {35} 1.41% ------------------~~----------------------------------------------------------------------------------~~ V.{36} ~~RECONCILIATION~~Previous OFMonthly ~~RESERVE~~Extension ~~ACCOUNT:~~Rate {36} 1.72% ------------------~~------------------------------------------------------------------------------------------------------------------~~ {5737} ~~BEGINNING~~Second OFprevious ~~PERIOD~~Monthly ~~RESERVE~~Extension ~~ACCOUNT~~Rate ~~BALANCE~~ {5737} ~~$9,103,825~~1.1486% ------------------ ~~DEPOSITS~~{38} TOAverage ~~RESERVE~~Extension ~~ACCOUNT~~Rate ({5835} ~~Investment~~+{36} ~~Earnings~~+{37}) / 3 {5838} ~~13,763~~1.1466% -------------- ~~{59} Deposits Related to Subsequent Receivables Purchases {59}~~ - --- ----------- ~~{60} Total Additions {60} $13,763.14~~ -------------- ~~PRIORITY WITHDRAWALS FROM RESERVE ACCOUNT {61} Transfer of Investment Earnings to Collection Account {61} (13,763.14)~~ -------------- ~~{62} Advances to Collection Account~~ - ~~Priority (1) through (7) {62}~~ - -------------- ~~{63} Total Priority Withdrawals {63} ($13,763.14)~~ ----------------- ~~{64} RESERVE ACCOUNT SUBTOTAL {64} $9,103,825.14~~ ----------------- ~~{65} Reserve Account Requirement {65} 9,103,825.14~~ -------------- ~~{66} Reserve Account Shortfall / Excess {66} 0.00~~ -------------- ~~{67}~~Compliance ~~DEPOSIT~~(Extension TOTest ~~RESERVE~~Pass ~~FUND,~~is TOan ~~REQUIRED~~Average ~~LEVEL~~Extension ~~{67}~~Rate $0less than 4%.00) Yes ----------------- ~~{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 {69}~~ - ~~excess amounts on deposit)~~ -------------- ~~{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 =================~~------------------

1 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: 02/01/2002 ORIGINAL MONTHLY PERIOD ENDING: 02/28/2002 PURCHASES UNITS CUT-OFF DATE CLOSING DATE POOL BALANCE PREV. DISTRIBUTION/CLOSE DATE: 02/15/2002 ------------------------------------------------------------------------------ DISTRIBUTION DATE: 03/15/2002 INITIAL PURCHASE 52,772 07/26/2001 $815,094,313 DAYS OF INTEREST FOR PERIOD: 28 SUB. PURCHASE #1 6,974 08/24/2001 113,867,436 DAYS IN COLLECTION PERIOD: 28 SUB. PURCHASE #2 0 MONTHS SEASONED: 7 ----------------------------------------------------------- -------------------------------------------- TOTAL 59,746 $928,961,749 ------------------------------------------------------------------------------ ---------------------------------------------------------------------------------------------------------------------------------- I. MONTHLY PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION: ---------------------------------------------------------------------------------------------------------------------------------- {1} Beginning of period Aggregate Principal Balance {1} $816,717,299.83 {2} Purchase of Subsequent Receivables {2} 0.00 Monthly Principal Amounts {3} Regular Principal Received {3} 10,112,236.93 ----------------- {4} Prepaid Principal Received {4} 4,733,407.59 ----------------- {5} Defaulted Receivables Deposit Amount {5} 7,270,208.38 ----------------- {6} Principal Portion of Repurchased Receivables {6} 7,385,431.51 ----------------- {7} Cram Down Losses and Other Non-Cash Adjustments {7} 23,473.17 ----------------- {8} Total Monthly Principal Amounts {8} 29,524,757.58 ----------------- {9} End of period Aggregate Receivable Balance {9} $787,192,542.25 ================= {10} Pool Factor ( {9} / Original Pool Balance) {10} 0.8474 ---------------------------------------------------------------------------------------------------------------------------------- II. MONTHLY PERIOD NOTE BALANCE CALCULATION: ----------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------- CLASS A-1 CLASS A-2 CLASS A-3 CLASS A-4 --------- --------- --------- --------- {11} Original Note Balance {11} $126,500,000 $234,500,000 $241,500,000 $247,500,000 ------------------------ ~~VI. CALCULATION OF RESERVE ACCOUNT REQUIREMENT~~ -------------------------------------------- {12} Beginning of period Note Balance {12} 23,796,329 234,500,000 241,500,000 247,500,000 -------------------------------------------------------------------- {13} Noteholders' Principal Distributable Amount {13} 23,796,329 3,218,824 0 0 {14} Noteholders' Accelerated Principal Amount {14} 0 0 0 0 {15} Optional Note Redemption Principal Amount {15} 0 0 0 0 -------------------- ~~IF PRIOR TO ACCELERATED RESERVE FUND EVENT:~~ ------------------------------------------------ ~~Lesser of:~~ {7416} ~~(1)~~End ~~Ending~~of ~~Aggregate~~period Note Balance {7416} ~~774~~0 231,~~719~~281,~~191.68~~176 ~~-----------------~~241,500,000 ~~-or--~~247,500,000 ==================================================================== {7517} ~~(2)~~Note ~~1.0%~~Pool ofFactors ~~98%~~( of{16} ~~Original~~/ ~~Receivable~~{11} ~~Balance~~) {7517} ~~9,103,825~~- 0.149863 1.0000 1.0000 ==================================================================== ----------------- --------------~~---~~ ~~{76}~~CLASS ~~REQUIREMENT~~B ~~{76}~~TOTAL ~~9,103,825.14~~ ------- -----~~-----~~ IF{11} ~~ACCELERATED~~Original ~~RESERVE~~Note ~~FUND~~Balance ~~EVENT:~~{11} $60,382,514 $910,382,514 -------------------------------~~---~~ ~~Lesser of:~~ {7712} ~~(1)~~Beginning ~~Ending~~of ~~Aggregate~~period Note Balance {7712} 27,422,862 $774,719,~~191.68~~192 ----------------- -or-- ~~(2) Greater of: {78} (a) 3.0% of 98% of Original Receivable Balance {78} 27,311,475.41~~ -----------~~---~~ {7913} ~~-or--~~Noteholders' Principal Distributable Amount {7913} 431,~~941~~919,~~024.17~~109 ~~-----------------~~28,934,262 {8014} ~~(b)~~Noteholders' ~~6.0%~~Accelerated ofPrincipal ~~98%~~Amount of{14} ~~Current~~0 ~~Outstanding~~0 ~~Class~~{15} AOptional Note Redemption Principal Amount {8015} ~~43,941,024.17~~0 ~~Principal~~0 ~~Balance~~ -------------- ----------------- {8116} ~~REQUIREMENT~~End of period Note Balance {8116} 4325,~~941~~503,~~024.~~753 $745,784,929 =============================== {17} ~~-----------------~~Note Pool Factors ( {16} / {11} ) {17} 0.4224 0.8192 ===============================

---------------------------------------------------------------------------------------------------------------------------------- III. RECONCILIATION OF PRE-FUNDING ACCOUNT: ---------------------------------------------------------------------------------------------------------------------------------- {18} Beginning of period Pre-Funding Account balance {18} $0.00 {19} Purchase of Subsequent Receivables {19} 0.00 ----------------- {20} Investment Earnings {20} 0.00 ----------------- {21} Investment Earnings Transfer to Collections Account {21} 0.00 ----------------- {22} Payment of Mandatory Prepayment Amount {22} 0.00 ----------------- {23} End of period Pre-Funding Account balance {23} $0.00

------------------------------------------------------------------------------------------------------------------------------------ ~~VII~~IV. ~~CALCULATION~~RECONCILIATION OF ~~PRINCIPAL~~COLLECTION ~~PAYMENT~~ACCOUNT: ~~AMOUNTS~~ ------------------------------------------------------------------------------------------------------------------------------------ AVAILABLE FUNDS: {8224} Scheduled and Prepayment Principal ~~Collections~~Cash Received {8224} 2114,~~291~~845,~~840~~644.8852 --------------------- {8325} ~~End~~Liquidation ofProceeds ~~Period~~Collected ~~Aggregate~~during period {25} 2,529,062.15 --------------------- {26} Receivables ~~Balance~~Repurchase Amounts {8326} ~~816~~7,~~717~~385,~~299~~431.8351 --------------------- {8427} ~~Required~~Interest ~~O/C~~and ~~Margin~~Fees ~~(as~~Collected ~~Specified~~on inReceivables {27} 11,222,972.01 --------------------- {28} Recoveries on Previously Defaulted Receivables {28} 340,326.67 --------------------- {29} Advances from the Reserve Fund {29} 0.00 --------------------- Investment Earnings on Trust ~~Indenture)~~Accounts {8430} 16Collection Account {30} 31,~~334~~919.45 --------------------- {31} Transfer from Reserve Fund {31} 12,~~346~~478.66 --------------------- {32} Transfer from Pre-Funding Account {32} 0.00 --------------------- {8533} ~~Required~~Optional ~~Maximum~~Note ~~Ending~~Redemption ~~Aggregate~~Prepayment ~~Class~~Amount A{33} ~~Principal~~0.00 ~~Balance~~--------------------- {8534} ~~800~~Total Available Funds {34} 36,~~382~~367,~~953~~834.8397 ~~(line~~DISTRIBUTIONS: {8335} -Trustees' Fees {8435}) 0.00 --------------------- {8636} Servicing Fees {36} 2,037,657.33 --------------------- Class A ~~Aggregate~~Noteholders' ~~Oustanding~~Note ~~Principal~~Interest ~~Balance~~----------------------------------------------------------------------- ~~(Start~~BEGINNING ofINTEREST ~~Period)~~CALCULATED CLASS NOTE BALANCE RATE DAYS DAYS BASIS INTEREST ----------------------------------------------------------------------- {8637} ~~766~~A-1 $23,~~778~~796,~~363~~329 3.7575000% 28 Actual days/360 $69,406 {37} 69,405.96 --------------------- ~~Less:~~{38} A-2 $234,500,000 4.14000% 30 30/360 $809,025 {8738} ~~Allocable~~809,025.00 to--------------------- ~~Class~~{39} A-3 ~~Notes~~$241,500,000 ~~(line~~4.83000% 30 30/360 $972,038 {8239} ~~X 91~~972,037.50 --------------------- {40} A-4 $247,500,000 5.40000%) 30 30/360 $1,113,750 {8740} 191,~~482~~113,~~034~~750.00 ----------------------------------------------------------------------- --------------------- {41} Note Insurer Premiums {41} 186,824.08 --------------------- {8842} ~~Preliminary~~Reimbursement Obligations due Note Insurer {42} 0.00 --------------------- Class AB ~~Ending~~Noteholders' ~~Balance~~Primary Note Interest ----------------------------------------------------------------------- BEGINNING INTEREST CALCULATED CLASS NOTE BALANCE RATE DAYS DAYS BASIS INTEREST ----------------------------------------------------------------------- {8843} ~~747~~Class B $27,~~296~~422,~~329~~862 7.3592000% 30 30/360 $180,991 {43} 180,990.89 ----------------------------------------------------------------------- --------------------- {8944} Class A Noteholders' Principal Payment Amount ~~Necessary~~{44} to27,015,153.19 ~~Reduce~~--------------------- ~~Class~~{45} AAccrued ~~Balance~~and Unpaid Premium and Reimbursement Obligations, due Note Insurer {45} 0.00 --------------------- {46} Deposit to Reserve Account, to Required Level {8946} 0.00 ~~(line~~--------------------- {8847} -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) {8547}) 0.00 --------------------- {48} Class B Noteholders' Principal Payment Amount {48} 1,919,109.24 --------------------- {9049} Class AB Noteholder's Accelerated Principal ~~Payment~~Amount {49} 0.00 --------------------- {50} Optional Note Redemption Amount ~~(line~~{50} 0.00 --------------------- {8751} +Other Amounts Due to the Trustees {8951}) 0.00 --------------------- {9052} ~~19,482,034~~Servicer Transition Expenses {52} 0.4100 --------------------- {53} Indenture Trustee Title Expenses {53} 0.00 --------------------- {9154} Class B ~~Principal~~Excess ~~Payment~~Interest ~~Amount~~{54} ~~(line~~0.00 --------------------- {8255} XDistribution ~~6.5%)~~to the equity certificate holder {9155} 12,~~383~~063,~~969~~881.6677 --------------------- {56} Total Distributions {56} 36,367,834.97 ------------------------------------------------------------------------------------------------------------------------------------ V. RECONCILIATION OF RESERVE ACCOUNT: ------------------------------------------------------------------------------------------------------------------------------------ IN{57} ~~WITNESS~~BEGINNING ~~WHEREOF,~~OF ~~the~~PERIOD ~~undersigned~~RESERVE ~~has~~ACCOUNT ~~duly~~BALANCE ~~executed~~{57} ~~and~~$9,103,825.14 ~~delivered~~--------------------- ~~this~~DEPOSITS ~~Monthly~~TO ~~Servicer's~~RESERVE ~~Report~~ACCOUNT as{58} ~~dated~~Investment ~~above~~Earnings {58} 12,478.66 ~~OFFICERS'~~--------------------- ~~CERTIFICATE~~{59} ~~The~~Deposits ~~undersigned~~Related ~~hereby~~to ~~certifies~~Subsequent ~~that~~Receivables (Purchases i{59} )- he--------------------- or{60} ~~she~~Total isAdditions an{60} ~~Authorized~~$12,478.66 ~~Officer~~--------------------- PRIORITY WITHDRAWALS FROM RESERVE ACCOUNT {61} Transfer of ~~Captial~~Investment ~~One~~Earnings ~~Auto~~to ~~Finance~~Collection Account {61} (12,478.66) ~~the~~--------------------- ~~"Servicer"~~{62} ),Advances ~~and~~to Collection Account - Priority (1) iithrough (7) ~~Exhibit~~{62} A- ~~hereto~~--------------------- ~~complies~~{63} ~~with~~Total ~~the~~Priority ~~requirements~~Withdrawals of{63} ($12,478.66) ~~and~~--------------------- is{64} ~~being~~RESERVE ~~delivered~~ACCOUNT ~~pursuant~~SUBTOTAL to{64} $9,103,825.14 ~~Section~~--------------------- ~~2.02~~{65} (Reserve cAccount )Requirement of{65} ~~the~~9,103,825.14 ~~Servicing~~--------------------- ~~Agreement~~{66} (Reserve ~~the~~Account ~~"Servicing~~Shortfall ~~Agreement"~~/ )Excess ~~dated~~{66} as0.00 of--------------------- ~~July~~{67} 26DEPOSIT TO RESERVE FUND, ~~2001~~TO byREQUIRED ~~and~~LEVEL ~~among~~{67} ~~Captial~~$0.00 ~~One~~--------------------- ~~Auto~~{68} ~~Finance~~RESERVE ~~Trust~~ACCOUNT ~~2001-A,~~PRIMARY asBALANCE ~~the~~{68} ~~Issuer~~$9,103,825.14 ~~Wells~~--------------------- ~~Fargo~~SUBORDINATE ~~Bank~~WITHDRAWALS ~~Minnesota,~~FROM ~~National~~RESERVE ~~Association,~~ACCOUNT ~~Trustee~~{69} Advances to Collection Account - Priority (10), (16) and ~~the~~(17) ~~Servicer.~~(limited ~~CAPITAL~~to ~~ONE~~excess ~~AUTO~~amounts ~~FINANCE~~on ~~Capital~~deposit) ~~One~~{69} ~~Auto~~- ~~Finance,~~--------------------- as{70} ~~Servicer~~Advances ~~By:~~to Collection Account - Priority (12) through (15) {70} - --------------------- {71} Return of Excess to Equity Certificate Holder {71} - --------------------- ~~Name:~~{72} ~~Stuart~~Total ~~Levy~~Subordinate ~~Title:~~Withdrawals ~~Manager~~{72} of- ~~Global~~--------------------- ~~Trust~~{73} ~~Reporting~~END ~~Date:~~OF ~~02/15/02~~PERIOD RESERVE ACCOUNT BALANCE {73} 9,103,825.14 =====================

------------------------------------------------------------------------------------------------------------------------------- IVI. ~~MONTHLY~~CALCULATION ~~PERIOD~~OF ~~NOTE~~RESERVE ~~BALANCE~~ACCOUNT ~~CALCULATION:~~REQUIREMENT ~~CLASS A~~-~~1 CLASS A~~-~~2 CLASS A~~-~~3 CLASS A~~-4------------------------------------------------------------------------------------------------------------------------- ~~CLASS~~IF BPRIOR ~~{1}~~TO ~~Original~~ACCELERATED ~~Note~~RESERVE ~~Balance~~FUND ~~{1}~~EVENT: ~~$126,500,000 $234,500,000 $241,500,000 $247,500,000 $60,382,514~~ ------------------------------------------- Lesser of: {74} (1) Ending Aggregate Note Balance {74} 745,784,929.25 -------------- -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: {277} ~~Beginning~~(1) ofEnding ~~period~~Aggregate Note Balance {277} ~~$43~~745,~~278~~784,~~364~~929.25 ~~$234,500,000~~-------------- ~~$241,500,000~~-or-- ~~$247,500,000~~(2) ~~$28,806,832~~Greater of: {378} ~~End~~(a) 3.0% of ~~period~~98% ~~Note~~of Original Receivable Balance {378} ~~$23~~27,~~796~~311,~~329~~475.41 ~~$234,500,000~~-------------- ~~$241,500,000~~{79} ~~$247,500,000~~-or-- ~~$27~~{79} 42,~~422~~352,~~862~~533.16 ~~==========================================================================~~-------------- {480} (b) 6.0% of 98% of Current Outstanding Class A Note ~~Pool~~Principal ~~Factors~~Balance {380} /42,352,533.16 -------------- -------------- {181} REQUIREMENT {481} 042,352,533.~~188~~16 ~~1.000~~-------------- ~~1.000~~----------------------------------------------------------------------------------------------------------------------------- 1VII.~~000~~ ~~0.454~~CALCULATION ~~==========================================================================~~OF PRINCIPAL PAYMENT AMOUNTS ----------------------------------------------------------------------------------------------------------------------------- I.{82} ~~MONTHLY~~Principal ~~PERIOD~~Collections ~~NOTE~~{82} ~~BALANCE~~29,524,757.58 ~~CALCULATION:~~-------------- ~~TOTAL~~ {183} ~~Original~~End ~~Note~~of Period Aggregate Receivables Balance {183} ~~$910~~787,~~382~~192,~~514~~542.25 -------------- {84} Required O/C Margin (as Specified in Trust Indenture) {84} 15,743,850.85 -------------- {85} Required Maximum Ending Aggregate Class A Principal Balance (line {83} - {84}) {85} 771,448,691.41 -------------- {86} Class A Aggregate Oustanding Principal Balance (Start of Period) {86} 747,296,329.35 -------------- Less: {87} Allocable to Class A Notes (line {82} X 91.5%) {87} 27,015,153.19 -------------- {288} ~~Beginning~~Preliminary ofClass ~~period~~A ~~Note~~Ending Balance {288} ~~$795~~720,~~585~~281,~~196~~176.16 -------------- {389} ~~End~~Payment ofAmount ~~period~~Necessary ~~Note~~to Reduce Class A Balance to Required Level (line {388} ~~$774,719,192~~- ~~==============~~{85}) {489} ~~Note~~0.00 ~~Pool~~-------------- ~~Factors~~-------------- {390} /Class A Principal Payment Amount (line {187} + {489}) 0{90} 27,015,153.~~851~~19 ~~==============~~-------------- -------------- {91} Class B Principal Payment Amount (line {82} X 6.5%) {91} 1,919,109.24 -------------- ----------------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------------

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: 03/15/02 4

------------------------------------------------------------------------------------------------------------------------------------ II. MONTHLY PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION: ------------------------------------------------------------------------------------------------------------------------------------ --------------------------------------- CUMULATIVE PERIOD --------------------------------------- {5} Beginning number of Receivables {5} 56,688 56,688 {6} Number of Subsequent Receivables Purchased {6} 6,974 0 {7} Number of Receivables Defaulted during period {7} 1,089 499 {8} Number of Receivables becoming Purchased Receivables during period {8} 708 1 {9} Number of Receivables paid off during period {9} 2,142 381 --------------------------------------- {10} Ending number of Receivables {10} 55,807 55,807 ---------------------------------------

------------------------------------------------------------------------------------------------------------------------------------ III. STATISTICAL DATA: (CURRENT AND HISTORICAL) ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------- ORIGINAL PREV. MONTH CURRENT ------------------------------------------------------------- (11} Weighted Average APR of the Receivables {11} 17.37% 17.38% 17.37% (12} Weighted Average Remaining Term of the Receivables {12} 61.22 57.03 56.12 (13} Weighted Average Original Term of Receivables {13} 64.74 64.74 64.74 (14} Average Receivable Balance {14} $15,549 $14,758 $14,589 -------------------------------------------------------------

------------------------------------------------------------------------------------------------------------------------------------ IV. DELINQUENCY: ------------------------------------------------------------------------------------------------------------------------------------ -------------------------------------- Receivables with Scheduled Payment Delinquent UNITS DOLLARS PERCENTAGE -------------------------------------- {15} 31-60 days {15} 3,378 50,721,691 6.05% {16} 61-90 days {16} 1,057 15,662,999 1.87% {17} 91-120 days {17} 246 3,661,210 0.44% -------------------------------------- {18} Receivables with Scheduled Payment delinquent more than 60 days at end of period {18} 1,303 $19,324,208 2.31% --------------------------------------

------------------------------------------------------------------------------------------------------------------------------------ V. PERFORMANCE TESTS: ------------------------------------------------------------------------------------------------------------------------------------ DELINQUENCY RATIO {19} Receivables with Scheduled Payment delinquent more than 60 days at end of period {19} $19,324,208 ( line {18}) ----------- {20} Beginning of period Principal Balance {20} 838,009,141 ----------- {21} Delinquency Ratio {16} + {17} divided by {20} {21} 2.31% ----------------- {22} Previous Monthly Period Delinquency Ratio {22} 2.26% ----------------- {23} Second previous Monthly Period Delinquency Ratio {23} 1.65% ----------------- {24} Average Delinquency Ratio ({21} + {22} + {23}) / 3 {24} 2.07% ----------------- ----------------------------------------------------------------------------------------------------------------------------- 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} 5,225,031 ----------------- {26} Receivables becoming Defaulted Receivables during period {26} $6,626,613 ----------- {27} Cram Down Losses and other non-cash Adjustments occurring during period {27} 26,636 ----------- {28} Liquidation Proceeds collected during period {28} 1,981,295 ----------- {29} Recoveries on Defaulted Receivables during period {29} 136,664 ----------- {30} Net Losses during period {26} - {27} - {28} - {29} {30} 4,482,018 ----------- {31} Net Losses since Initial Cut-off Date (End of Period) {31} 9,707,048.94 ----------------- {32} Cumulative Net Loss Rate ({31}) / {Original Aggregate Principal Balance} {32} 1.04% ----------------- ----------------------------------------------------------------------------------------------------------------------------- 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} 977 ----------- {34} Beginning of Period Loans Outstanding {34} 56,688 ----------- {35} Extension Rate {33} divided by {34} {35} 1.72% ----------------- {36} Previous Monthly Extension Rate {36} 1.86% ----------------- {37} Second previous Monthly Extension Rate {37} 1.31% ----------------- {38} Average Extension Rate ({35} +{36} +{37}) / 3 {38} 1.63% ----------------- ----------------------------------------------------------------------------------------------------------------------------- Compliance (Extension Test Pass is an Average Extension Rate less than 4%.) Yes -----------------------------------------------------------------------------------------------------------------------------

Filing Compare · CAPITAL ONE AUTO FINANCE TRUST 2001-A