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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________
FORM 10-K
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2000 Commission File No. 333-34266
Volkswagen Dealer Finance, LLC
on behalf of
Volkswagen Credit Auto Master Owner Trust
(Issuer of the Volkswagen Credit Auto Master Owner Trust Floating Rate Auto
Dealer Loan Backed Notes, Series 2000-1 (the "Notes"))
(Exact name of registrant as specified in its charter)
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State of Delaware 38-3528063
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation or organization)
3800 Hamlin Road 48326
Auburn Hills, Michigan (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (248) 340-6550
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Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act:
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 (the "Act") during the preceding 12 months (or for such period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
YES x NO _______
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State the aggregate market value of the voting stock held by non-affiliates
of the registrant. The aggregate market value shall be computed by reference to
the price at which the stock was sold, or the average bid and asked price of
such stock, as of a specific date within 60 days prior to the date of filing.
(See definition of affiliate in Rule 405, 17 C.F.R. 230.405):
NOT APPLICABLE
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FORM 10-K
PART 1
Item 1. Business.
The Volkswagen Credit Auto Master Owner Trust (the "Trust") was
created pursuant to the Trust Agreement (the "Agreement") dated August 3,
2000 among Volkswagen Dealer Finance, LLC (the "Company") as transferor,
and The Bank of New York as trustee (the "Trustee"). The Trust assets
include wholesale receivables (the "Receivables") generated from time to
time in a portfolio of revolving financing arrangements with automobile
dealers to finance their automobile inventory and collections on the
Receivables. Such property was obtained by the Company pursuant to the
Receivables Purchase Agreement dated as of August 10, 2000 between the
Company, as purchaser, and VW Credit, Inc. as seller.
The Company has registered with the Securities and Exchange
Commission under the Securities Act of 1933, as amended, and sold to the
general public the Series 2000-1, Floating Rate Auto Loan Asset Backed
Certificates in the initial principal amount of $500,000,000. The Payment
Date Statements contain information relating to the Receivables and the
accounts from which the Receivables arise (the "Accounts") and are prepared
by the Servicer. The Payment Date Statements containing information
relating to the Receivables and the Accounts for the Collection Periods
from and including August 2000 through December 2000 are incorporated by
reference from the registrant's Current Reports on Form 8-K filed with the
Commission on August 21, 2000, September 20, 2000, October 20, 2000,
November 20, 2000, December 20, 2000, and January 22, 2001, respectively.
Item 2. Properties.
Omitted.
Item 3. Legal Proceedings.
Nothing to Report.
Item 4. Submission of Matters To A Vote Of Security Holders.
None.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters.
(a) To the best knowledge of the registrant, there is no
established public trading market for the Notes.
(b) The Certificates are represented by one or more certificates
registered in the name of Cede & Co. ("Cede"), the nominee
of The Depository Trust Company ("DTC").
Item 6. Selected Financial Data.
Omitted.
Item 7. Management's Discussion And Analysis Of Financial Condition And
Results Of Operation.
Omitted.
Item 8. Financial Statements and Supplementary Data.
Omitted.
Item 9. Changes in and Disagreements On Accounting And Financial Disclosure.
None.
PART III
Item 10. Directors and Officers of the Registrant.
Omitted.
Item 11. Executive Compensation.
Omitted.
Item 12. Security Ownership Of Certain Beneficial Owners And Management.
Omitted.
Item 13. Certain Relationships And Related Transactions.
Nothing to Report.
PART IV
Item 14. Exhibits, Financial Statement Schedules, And Reports On Form 8-K.
(a) Omitted.
(b) The registrant has filed Current Reports on Form 8-K
containing certain financial information with regard to the Trust, the
Receivables and the Accounts, on August 21, 2000, September 20, 2000,
October 20, 2000, November 20, 2000, December 20, 2000, and January
22, 2001, respectively.
99.1 Annual Certificate of VW Credit, Inc., as Servicer.
99.2 Report on the activities of VW Credit, Inc., as
Servicer, prepared by PricewaterhouseCoopers L.L.P.
99.3 The Payment Date Statements containing information
relating to the Receivables and the Accounts for the
Collection Periods from and including August 2000
through December 2000 are incorporated by reference
from the registrant's Current Reports on Form 8-K filed
with the Commission on August 21, 2000, September 20,
2000, October 20, 2000, November 20, 2000, December 20,
2000, and January 22, 2001, respectively.