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Information Date: 17.08.2011Period: 07.2011
Period No.: 42
Deal Name: DRIVER FIVE
Issuer: DRIVER FIVE GmbHSteinweg 3-560313 Frankfurt am MainFederal Republic of Germanyfax +49 (0) 69/ 2992-5387
Seller of the Receivables: Volkswagen Bank GmbH
Servicer Name: Volkswagen Bank GmbH
Reporting Entity: Volkswagen Bank GmbHABS OperationsDep. F-RWABOGifhorner Straße 5738112 BraunschweigFederal Republic of Germany
Contact: phone +49 (0) 531 212 9205fax: +49 (0) 531/ 212 [email protected]
Administrator: Wilmington Trust SP Services (Frankfurt) GmbHSteinweg 3-560313 Frankfurt am MainFederal Republic of Germanyfax +49 (0) 69/ 2992-5387
IMPORTANT NOTICE to Investors:Pursuant to clause 6.3 of the LOAN RECEIVABLES PURCHASE AGREEMENT,
VW Bank GMBH intends to exercise the Clean Up Call Option effective withpayment date 21st of September 2011.
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 1/ 26
Information Date: 17.08.2011Period: 07.2011
Period No.: 42
Page Tables of Contents2 Contents
3 Deal Overview
4 Deal Overview: Counterparties I.
5 Deal Overview: Counterparties II.
6 Information regarding the Notes I.
7 Information regarding the Notes II.
8 Credit Enhancement
9 Swap/ Waterfall
10 Run Out Schedule
11 Amortisation Notes
12 Write-Offs/ Performance Trigger
13 Deposits - Potential Set Off Risk
14 Overview Outstanding Contracts
15 Delinquent Contracts
16 Defaulted Contracts
17 Poolinformation I. - Make: New and Used Cars
18 Poolinformation II. - Down Payments, Customer Type and Type of Payment
19 Poolinformation III. - Obligor Concentration
20 Poolinformation IV. - Distribution by Outstanding Discounted Balance and Original Principal Balance
21 Poolinformation V. - Interest Rate paid by the Receivable Debtor
22 Poolinformation VI. - Distribution by Original Term, Remaining Term and Seasoning
23 Poolinformation VII. - Credit Type and Type of Car
24 Poolinformation VIII. - Distribution by Vehicle Makes and Models
25 Poolinformation IX. - Geographic Distribution
26 Glossary
1
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 2/26
Information Date: 17.08.2011Period: 07.2011
Period No.: 42
Deal Overview
Cut Off Date: 31.01.2008
Issue Date: 27.02.2008 Legal Maturity Date: February 2014
Reporting Period: July 11
Reporting Date: 17.08.2011
Reporting Frequency: monthly
Period No.: 42
Payment Date: 22.08.2011 21st of each month (for previous month)
Next payment Date: 21.09.2011
Asset Collection Period: 01.07.2011 until 31.07.11
Interest Accrual Period: 21.07.2011 until 21.08.11 Days accrued: 32
Note Payment Period: 21.07.2011 until 21.08.11
Poolinformation at Pool Cut
Number of Contracts
Outstanding Pool 105.358
Repurchased Loan Contracts -
(cumulative since Cut Off Date) -
Credit TypePercentage of
Loans(%)
Balloon 70,16%
Equal-Installment Loan 29,84%
Total 100,00%
Type of CarPercentage of
Loans(%)
New 56,20%
Used 43,80%
Total 100,00%
850.029.884,96 €
449.975.272,88 €
1.300.005.157,84 €
Percentage of Balance(%)
79,81%
20,19%
100,00%
Percentage of Balance(%)
65,39%
34,61%
100,00%
Outstanding Discounted Principal Balance
1.037.579.773,57 €
262.425.384,27 €
1.300.005.157,84 €
Outstanding Discounted Principal Balance
- €
17th of each month (for previous month)
Outstanding Discounted Principal Balance
1.300.005.157,84 €
- €
Outstanding Nominal Balance
1.458.117.728,93 €
- €
- €
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 3/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Deal Overview: Counterparties I.
Name
Long Term
Short Term
OutlookLong Term
Short Term
OutlookLong Term
Short Term
Outlook
Joint Lead Managers:The Royal Bank of Scotland N.V.
A2 P-1 Stable AA- F1+ Stable A+ A-1 Stable
London Branch250 BishopsgateLondon EC2M 4AAUnited Kingdom
HSBC Bank plc Aa2 P-1 Negative AA F1+ Stable AA A-1+ Stable
8 Canada SquareLondon E14 5HQ
United Kingdom
Accounts: The Royal Bank of Scotland N.V. A2 P-1 Stable AA- F1+ Stable A+ A-1 Stable
Cash Collateral Niederlassung DeutschlandDistribution Junghofstraße 22
60311 Frankfurt am MainFederal Republic of Germany
Paying Agent/Calculation Agent:
Bank of America National Association
Aa3 P-1 under Review
A+ F1+ Negative A+ A-1 Negative
London Branch5 Canada SquareLondon E14 5AQUnited Kingdom
Luxembourg Paying Agent:
46, Avenue J.F. Kennedy1855 LuxembourgLuxembourg
Swap Counterparty: HSBC Bank plc Aa2 P-1 Negative AA F1+ Stable AA A-1+ Stable
8 Canada SquareLondon E14 5HQUnited Kingdom
* Ratings updated on 03/08/2011
RatingS & P
ABN AMRO Bank (Luxembourg) S.A.
Moody's Fitch
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 4/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Deal Overview: Counterparties II.
Security Trustee:
Data Protection Trustee: Wilmington Trust SP Services (Frankfurt) GmbHSteinweg 3-560313 Frankfurt am Main,Federal Republic of Germany
Rating Agencies: MOODY's Deutschland GmbHAttn.: MonitoringAn der Welle 560322 Frankfurt/MainFederal Republic of [email protected]
Fitch Ratings LimitedAttn.: Structured Finance Surveillance4th Floor, 101 Finsbury PavementLondon EC2A 1RSUnited [email protected]
Standard & PoorsAttn.: Structured Finance Surveillance Department
London EC2M 7NJUnited [email protected]
Administrator: Wilmington Trust SP Services (Frankfurt) GmbHSteinweg 3-560313 Frankfurt am MainFederal Republic of Germany
Short Term
Long Term
OutlookShort Term
Long Term
OutlookShort Term
Long Term
Outlook
Volkswagen Bank GmbH A2 P-1 Stable n.a. n.a. n.a. A- A-2 Stable
Volkswagen AG A3 P-2 Stable A- F2 stable A- A-2 Stable
2 3 4 5 6 7 8
Rating Related Triggers
Future Rating Triggers:
VAT-Risk
Set Off Risk The downgrade of VW Bank's long-term rating to below BBB- by Fitch and/or Baa3 by Moody's and/or VW Bank's short-term rating to below A-2 by S&P or, if VW Bank isnot the subject of an S&P's short-term rating, VW Bank's long-term rating from S&P is lower than BBB+, will result in a Set Off risk reserve being established if deposits by borrowers are greater than 1% of the Aggregate Discounted Principal Balance.
Downgrade of VW Bank's short-term rating to F3 by Fitch will result in an increase by 0.17% of the Cash Collateral Account of the Aggregate Discounted Principal Balance, which is exclusively reserved to cover any VAT burden in case a replacement servicer is appointed.
18 Finsbury Circus
6 Broad Street PlaceLondon EC2M 7JHUnited Kingdom
Moody's FitchRating of Volkswagen Bank GmbH
and Volkswagen AGRating
S & P
Wilmington Trust (London) Ltd.5th Floor
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 5/26
Information Date: 17.08.2011Period: 07.2011
Period No.: 42
Information regarding the Notes I.
Rating Details: Class A Class B
Rating at Isue DateFitch AAA A
Moody's Aaa A1
Standard & Poors AAA A+
Current RatingFitch AAA AA
Moody's Aaa A1
Standard & Poors AAA AA-
Information on Notes Class A Class B
Original Maturity Date: Feb 2014 Feb 2014
Original Repayment Date: Feb 2013 Feb 2013
ISIN: XS0342510616 XS0342511341
Common Code: 034251061 034251134
Nominal Amount: 50,000 50,000
Information on Interest Class A Class B
Spread/Margin: 58 bps. 140 bps.
Index Rate: 1-Month Euribor 1-Month Euribor
Fixed/ Floating: floating floating
Current Coupon: 1-M-Euribor + 58 bps. 1-M-Euribor + 140 bps.
Day Count Convention actual/ 360 actual/ 360
Clean-Up Call
VW Bank will have the right at its option to exercise a clean-up call and to repurchase the Loan Receivables from Driver Five at any time when the sum of the Discounted Principal Balance for all loan contracts is less than 9% of the sum of the Discounted Principal Balance for all Loan contracts as of the Cut Off Date, provided that all payment obligations under the Notes will be thereby fulfilled.
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 6/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Information regarding the Notes II.
Monthly Period: July 11
Payment Date: 22.08.2011
Interest Accrual Period (from/until): 21.07.2011 21.08.2011
Days Accrued: 32
Base Interest Rate (1-Month Euribor): 1,4700%
Currency: EUR
Day Count Convention: ACT/360
Interest Payments Class A Class B
Total Interests Amount of the Reporting Period 242.840,00 € 14.580,54 €
Paid interest: 242.840,00 €- 14.580,54 €-
Unpaid Interest:
Unpaid interest of the Reporting Period: - € - €
Cumulative unpaid interest: - € - €
Note Balance Class A Class B
Note Balance (Cut Off Date): 1.214.200.000,00 € 40.300.000,00 €
Note Balance (Beginning of Period): 133.228.580,68 € 5.715.934,38 €Unallocated Redemption Amount from Previous Period
144,06 €
Available Redemtion Amount Reporting Period
24.279.636,38 €
Total Available Redemtion Amount
24.279.780,44 €
Redemption Amount per Class -24.279.628,88 € 0,00 €
Unallocated Redemption Amount from current Period 0,00 € 151,56 €
Note Balance (End of Period): 108.948.951,80 € 5.715.934,38 €
Payments to Investors - Per Euro 50.000,- Denomination Class A Class B
Interest (1-M-Euribor + 0,58% Class A/ + 1,40% Class B) -10,00 € -18,09 €
Principal Repayment by Note: -999,82 € 0,00 €
Note Factor: 0,089729 0,141835
Overcollateralisation Class A Class B
Initial OC Percentage at Poolcut 6,6004% 3,5004%
Current OC Percentage 10,8648% 6,1884%
Target OC Percentage 9,1000% 5,2000%
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 7/26
Information Date: 17.08.2011Period: 07.2011
Period No.: 42
Credit Enhancement
Credit Enhancement as of Cut Off Date
% of Aggregate Discounted
Principal BalanceValue
Class B Note* 3,10% 40.300.000,00 €
Subordinated Loan 2,60% 33.800.000,00 €
Overcollateralization 0,90% 11.705.157,84 €
Cash Collateral Account 1,50% 19.500.077,37 €
* for subordination to class A note
Cash Collateral Account (CCA) in EUR
Initial Balance at Poolcut 19.500.077,37 € 1,50% Poolcut
Targeted Balance (Floor) 16.250.000,00 € 1,25% Poolcut
Balance as of the Beginning of the Period 16.250.000,00 € 11,09% Period
Payment from CCA/ Payment to CCA 0,00 € - -
Balance as of the End of the Period 16.250.000,00 € 13,29% Period
Calculation of Credit Enhancement:
in % of Outstanding Discounted Balance as of
Driver Five´s Credit Enhancement consists of the items listed above calculated on the initial Discounted Principal Balance as of the Cut Off day. The result provides an absolute value which will be applied to the (amortized) Discounted Principal Balance as of the end of the monthly period. This process is continuing until a Credit enhancement of 9,10% of class A (5,20% of Class B) has been reached.
The Class B Notes benefit from the Subordinated Loan, the Overcollateralisation and the Cash Collateral Account.
● The transaction starts with sequential amortisation and therefore initially only the Class A Notes will receive principal payments
● The transaction switches into pro rata amortisation once an overcollateralisation percentage (i.e. credit enhancement excluding cash collateral) of 9,10% for the Class A Notes and 5,20% for the Class B Notes has been reached
● The amortisation will revert to sequential in case the total amount of notes outstanding falls below 10% of the initial notes outstanding
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 8/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Swap/ Waterfall
Amortising Interest Rate Swap Class A Class BInitial Principal 1.214.200.000,00 € 40.300.000,00 €
133.228.580,68 € 5.715.934,38 €
Paying LegReceiving Leg
Net Swap payments/ Receipts - 230.633,48 € - 9.596,42 €
Waterfall
Payment Remaining Amount
Remaining Balance from Previous Period 144,06 €
Available Distribution Amount plus 24.899.425,10 € 24.899.569,16 €
Fees less 122.138,28 €- 24.777.430,88 €
Net Swap Payments Class A less 230.633,48 €- 24.546.797,40 €
Net Swap Payments Class B less 9.596,42 €- 24.537.200,98 €
Interest Class A less 242.840,00 €- 24.294.360,98 €
Interest Class B less 14.580,54 €- 24.279.780,44 €
Payment to Cash Collateral Account less - € 24.279.780,44 €
Redemption Class A less 24.279.628,88 €- 151,56 €
Redemption Class B less - € 151,56 €
Remaining Amount Due to Rounding less 151,56 €- - €
Other Payments to Swap Counterparties less - € - €
Interest Subordinated Loan less - € - €
Payment to Subordinated Lender or VW Bank less - € - €
Payment from Cash Collateral Account - € - €
Payment to Subordinated Lender or VW Bank less - € - €
Underlying Principal for Reporting Period
Fix Interest RateFloating Interest Rate
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 9/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Run Out Schedule
At the End of Previous Reporting Period 30.06.2011 At the end of Reporting Period 31.07.2011
Payment PeriodABS Remaining
DepreciationABS Remaining
InterestABS Remaining
InstalmentsPayment Period
ABS Remaining Depreciation
ABS Remaining Interest
ABS Remaining Instalments
arrears 8.042.101,27 € 115.446,83 € 8.157.548,10 € arrears 7.442.747,63 € 107.923,84 € 7.550.671,46 €
07.2011 17.259.006,06 € 451.366,16 € 17.710.372,22 €
08.2011 20.489.687,15 € 541.087,65 € 21.030.774,79 € 08.2011 16.313.121,35 € 392.486,27 € 16.705.607,61 €
09.2011 20.442.625,76 € 450.244,19 € 20.892.869,95 € 09.2011 19.840.098,35 € 439.804,63 € 20.279.902,98 €
10.2011 26.032.503,18 € 358.680,54 € 26.391.183,72 € 10.2011 25.474.941,86 € 351.144,63 € 25.826.086,49 €
11.2011 24.349.423,06 € 242.195,96 € 24.591.619,02 € 11.2011 23.768.515,85 € 237.066,10 € 24.005.581,95 €
12.2011 4.769.398,93 € 133.481,73 € 4.902.880,66 € 12.2011 4.715.274,34 € 131.020,59 € 4.846.294,93 €
01.2012 5.069.376,56 € 112.136,04 € 5.181.512,60 € 01.2012 4.926.560,32 € 109.938,57 € 5.036.498,89 €
02.2012 4.698.115,81 € 89.683,85 € 4.787.799,66 € 02.2012 4.584.641,35 € 88.074,56 € 4.672.715,91 €
03.2012 4.909.100,09 € 68.775,75 € 4.977.875,84 € 03.2012 4.841.456,73 € 67.644,77 € 4.909.101,50 €
04.2012 4.777.325,38 € 46.850,98 € 4.824.176,36 € 04.2012 4.673.607,94 € 45.947,78 € 4.719.555,72 €
05.2012 3.751.935,00 € 25.659,14 € 3.777.594,14 € 05.2012 3.706.117,12 € 25.287,88 € 3.731.405,00 €
06.2012 544.246,79 € 8.774,33 € 553.021,12 € 06.2012 534.326,23 € 8.622,85 € 542.949,08 €
07.2012 390.359,91 € 6.337,24 € 396.697,15 € 07.2012 381.972,74 € 6.230,41 € 388.203,15 €
08.2012 327.825,42 € 4.623,62 € 332.449,04 € 08.2012 321.411,69 € 4.554,18 € 325.965,87 €
09.2012 257.095,40 € 3.179,85 € 260.275,25 € 09.2012 253.000,76 € 3.138,97 € 256.139,73 €
10.2012 210.445,46 € 2.031,41 € 212.476,87 € 10.2012 207.319,81 € 2.010,59 € 209.330,40 €
11.2012 127.589,76 € 1.092,95 € 128.682,71 € 11.2012 125.493,78 € 1.086,33 € 126.580,11 €
12.2012 56.136,52 € 523,26 € 56.659,78 € 12.2012 55.818,49 € 525,93 € 56.344,42 €
01.2013 37.507,20 € 274,88 € 37.782,08 € 01.2013 37.761,78 € 278,68 € 38.040,46 €
Subtotal 146.541.804,71 € 2.662.446,36 € 149.204.251,06 € Subtotal 122.166.426,34 € 2.022.508,88 € 124.188.935,20 €
> 01.2013 24.135,88 € 1.776,23 € 25.912,11 € > 01.2013 62.496,87 € 2.058,92 € 64.555,79 €
Total 146.565.940,59 € 2.664.222,59 € 149.230.163,17 € Total 122.228.923,21 € 2.024.567,80 € 124.253.490,99 €
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 10/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
0
100.000.000
200.000.000
300.000.000
400.000.000
500.000.000
600.000.000
700.000.000
800.000.000
900.000.000
1.000.000.000
1.100.000.000
1.200.000.000
1.300.000.000
Outstanding Balancein EUR
ReportingPeriod
Amortisation Profile Class A-Notes A-Notes
Exp. Amo. A-Notes
0
10.000.000
20.000.000
30.000.000
40.000.000
50.000.000
60.000.000
70.000.000
80.000.000
90.000.000
100.000.000
Outstanding Balancein EUR
ReportingPeriod
Amortisation Profile Class B-Notes B-Notes
Exp. Amo. B-Notes
Assuming a Clean-up Call at 9% of the initial outstanding balance, annual prepayments of 10% and 0 % defaults.
Assuming a Clean-up Call at 9% of the initial outstanding balance, annual prepayments of 10% and 0 % defaults.
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 11/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Write-Offs/ Performance Trigger
Cumulative Write OffsNumber of Contracts Write Offs
974 6.776.513,01 €
11 36.935,00 €
985 6.813.448,01 €
Cumulative Net Loss Ratio
0,5241%
Performance Triggers
OC-Percentage OC-PercentageClass A Notes Class B Notes
9,10% 5,20%
11,00% 7,00%
100,00% 100,00%
Performance Trigger
LevelsCredit Enhancement increase condition in
place?Level I a.
no
Level I b.no
Level II. no
Performance Pool vis-a-vis Triggers
Cumulative Net Loss Ratio exeeds 1.15% for any Payment Date after May 2009 but prior to or during February 2010
Cumulative Net Loss Ratio exceeds 1,60% for any Payment Date
Until a Credit Enhancement Increase condition is in place
Level I Credit Enhancement Increase condition is in place
Level II Credit Enhancement Increase condition is in place
Credit Enhancement increase condition
Begin of Period
Write Offs
End of Period
Cumulative Net Loss Ratio exceeds 0.50% for any Payment Date before or during May 2009
Cumulative Write Offs as percentage of Discounted Principal Balance as of Cut Off Date (1,300,005,157.84 €)
A Targeted Note Balance was implemented to assure on a monthly basis that no cash is paid to lower steps in the waterfall unless there is sufficient overcollateralization to support the notes.
The performance trigger in form of a credit enhancement increase condition will be activated when the cumulative Net Loss Ratio exceeds the defined limits. In this case the overcollateralization will be increased accordingly.
0,00
000,
0000
0,00
000,
0009
0,00
150,
0035
0,00
540,
0090
0,01
600,
0221
0,03
530,
040,
050,
060,
070,
090,
100,
120,
140,
160,
180,
200,
230,
240,
260,
280,
300,
310,
320,
340,
360,
380,
390,
41 0,43
0,45
0,46
0,47
0,48
0,49
0,51
0,52
0,52
0,0000
0,5000
1,0000
1,5000
2,0000
Net LossRatio in %
Period
Cumulated Net Losses
Cumulative Net Loss Ratio Level I Level II
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 12/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Deposits - Potential Set Off Risk
Number of Customers with
deposits
Outstanding Nominal Balance of customers
with deposits
Outstanding Discounted Principal Balance of
customers with depositsDeposits
184 1.445.777,17 € 1.425.624,44 € 734.320,04 € Total 184 1.445.777,17 € 1.425.624,44 € 734.320,04 €
Current Set Off Risk Trigger*Borrower Deposits in % of
Aggregate Discounted Principal Balance EoP
0,6008% 1,0000%
* Breach of this trigger in conjunction with the loss of VW Bank's investment grade rating, obliges VW Bank to post additional collateral equal to the potential set-off risk which will be adjusted on a monthly basis (the "Set-Off Risk Reserve"). The Set-Off Risk Reserve shall be deposited in the Cash Collateral Account and is exclusively reserved to cover set-off risks.
0
1.000.000
2.000.000
3.000.000
4.000.000
5.000.000
6.000.000
7.000.000
8.000.000
9.000.000
10.000.000
11.000.000
12.000.000
13.000.000
14.000.000
15.000.000
in EUR
Period
Deposits vs. Outstanding Nominal Balance
Deposits Outstanding Nominal Balance
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 13/26
Information Date: 17.08.2011Period: 07.2011
Period No.: 42
Overview Outstanding Contracts
Development of Pool within Reporting PeriodNumber of contracts
AdjustmentsOutstanding Nominal Balance
Begin of Period 21.736 149.230.163,17 €
Periodically reduction of Nominal 24.976.672,18 €
Discount 54.231,33 €-
Fees for Restructuring/Prolongation 6.439,31 €
Interest in arrears 7.479,94 €
Write Off 11 36.935,00 €-
Available Collection 24.899.425,10 €
Repurchased Loan Contracts 0 - €
End of Period 18.770 124.253.490,99 €
Status of Contracts
Number of Contracts
Outstanding Discounted Principal Balance
105.358 1.300.005.157,84 €
0 - €
0 - €
0 - €
0 - €
0 - €
105.358 1.300.005.157,84 €
Number of Contracts
Outstanding Discounted Principal Balance(Begin of Period)
Number of Contracts(End of Period)
Outstanding Discounted Principal
Balance(End of Period)
20.768 139.710.898,64 € 17.796 115.462.722,69 €
441 3.720.073,83 € 440 3.582.306,58 €
527 3.134.968,12 € 534 3.183.893,94 €
48.568 - € 51.037 - €
34.080 - € 34.566 - €
974 - € 985 - €
105.358 146.565.940,59 € 105.358 122.228.923,21 €
Pool Balance at Poolcut
End of Term
Early Settlement
Write Off
Total
Status
Current
Delinquent
Defaulted
Write Off
Total
Pool Balance at the End of PeriodPool Balance at the Beginning of Period
Status
Current
Delinquent
Defaulted
End of Term
Early Settlement
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 14/26
Information Date: 17.08.2011Period: 07.2011
Period No.: 42
Delinquent Contracts
Information of Delinquencies and Defaults
Current Reporting
Period
Number of Contracts
Number of Contracts (%)
Outstanding Discounted
Principal Balance
Outstanding Discounted
Principal Balance (%)
Outstanding Nominal Balance
Outstanding Nominal
Balance (%)
Delinquent 440 2,3442% 3.582.306,58 € 2,9308% 3.651.934,29 € 2,9391%
Defaulted 534 2,8450% 3.183.893,94 € 2,6049% 3.254.512,74 € 2,6193%
Delinquency Profile
Days in Arrears
Number of Contracts
Number of Contracts (%)
Outstanding Discounted
Principal Balance
Outstanding Discounted
Principal Balance (%)
Outstanding Nominal Balance
Outstanding Nominal
Balance (%)
> 30 <= 60 229 1,2200% 1.897.412,08 € 1,5523% 1.925.798,70 € 1,5499%
> 60 <= 90 101 0,5381% 825.809,55 € 0,6756% 838.590,46 € 0,6749%
> 90 <= 120 37 0,1971% 272.370,24 € 0,2228% 278.549,16 € 0,2242%
> 120 <= 150 18 0,0959% 201.100,56 € 0,1645% 207.398,63 € 0,1669%
> 150 <= 180 9 0,0479% 72.783,58 € 0,0595% 73.823,73 € 0,0594%
Subtotal 394 2,0991% 3.269.476,01 € 2,6749% 3.324.160,68 € 2,6753%
> 180 <= 210 4 0,0213% 27.360,85 € 0,0224% 27.846,74 € 0,0224%
> 210 <= 240 3 0,0160% 4.554,05 € 0,0037% 4.573,52 € 0,0037%
> 240 <= 270 3 0,0160% 17.890,26 € 0,0146% 18.186,95 € 0,0146%
> 270 <= 300 3 0,0160% 9.781,71 € 0,0080% 10.054,28 € 0,0081%
> 300 <= 330 1 0,0053% 12.086,45 € 0,0099% 12.656,01 € 0,0102%
> 330 <= 360 5 0,0266% 37.034,54 € 0,0303% 37.532,26 € 0,0302%
> 360 27 0,1438% 204.122,71 € 0,1670% 216.923,85 € 0,1746%
Subtotal 46 0,2451% 312.830,57 € 0,2559% 327.773,61 € 0,2638%
Total 440 2,3442% 3.582.306,58 € 2,9308% 3.651.934,29 € 2,9391%
0
1.000.000
2.000.000
3.000.000
4.000.000
5.000.000
6.000.000
7.000.000
8.000.000
9.000.000
10.000.000
in EUR
ReportingPeriod
Delinquent Contracts - Total Outstanding Balance
> 30 <= 60 > 60 <= 90 > 90 <= 120 > 120 <= 150 > 150 <= 180 > 180 <= 210 > 210 <= 240
> 240 <= 270 > 270 <= 300 > 300 <= 330 > 330 <= 360 > 360 Total
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Information Date: 17.08.2011Period: 07.2011
Period No.: 42
Defaulted Contracts
Defaulted Profile I
Days in ArrearsNumber of Contracts
Number of Contracts
(%)
Outstanding Discounted
Principal Balance
Outstanding Discounted
Principal Balance (%)
Outstanding Nominal Balance
Outstanding Nominal Balance
(%)
<= 30 131 0,6979% 605.363,58 € 0,4953% 611.757,17 € 0,4923%
>30 <= 60 21 0,1119% 99.249,11 € 0,0812% 100.351,25 € 0,0808%
> 60 <= 90 31 0,1652% 145.416,67 € 0,1190% 147.582,11 € 0,1188%
> 90 <= 120 46 0,2451% 286.707,13 € 0,2346% 291.919,20 € 0,2349%
> 120 <= 150 43 0,2291% 313.394,71 € 0,2564% 321.126,29 € 0,2584%
> 150 <= 180 40 0,2131% 305.667,82 € 0,2501% 311.328,96 € 0,2506%
> 180 <= 210 24 0,1279% 122.604,26 € 0,1003% 125.064,99 € 0,1007%
> 210 <= 240 22 0,1172% 155.723,98 € 0,1274% 158.990,91 € 0,1280%
> 240 <= 270 34 0,1811% 255.097,56 € 0,2087% 263.038,85 € 0,2117%
> 270 <= 300 23 0,1225% 127.138,66 € 0,1040% 131.181,81 € 0,1056%
> 300 <= 330 23 0,1225% 127.946,57 € 0,1047% 129.844,14 € 0,1045%
> 330 <= 360 11 0,0586% 51.635,83 € 0,0422% 52.057,79 € 0,0419%
>360 85 0,4529% 587.948,06 € 0,4810% 610.269,27 € 0,4911%
Total 534 2,8450% 3.183.893,94 € 2,6049% 3.254.512,74 € 2,6193%
Defaulted Profile II - Recoveries
Credit TypeVehicle Status
Number of Contracts
*Outstanding Nominal Principal
Balanceat Day of Default
*Outstanding Discounted
Principal Balanceat Day of Default
Total Recoveries Total Discount Total Write Offs
AutoCredit New 853 12.734.153,00 € 11.925.748,15 € 7.393.147,59 € 352.490,16 € 3.093.098,39 €
Used 936 8.975.054,64 € 8.340.285,46 € 4.650.954,87 € 544.042,46 € 2.579.953,03 €
Total Auto Credit 1.789 21.709.207,64 € 20.266.033,61 € 12.044.102,46 € 896.532,62 € 5.673.051,42 €
Classic Credit New 98 934.963,79 € 870.895,87 € 556.414,27 € 38.571,58 € 291.462,98 €
Used 428 2.286.508,80 € 2.123.146,79 € 1.175.407,35 € 151.691,20 € 848.933,61 €
Total Classic Credit 526 3.221.472,59 € 2.994.042,66 € 1.731.821,62 € 190.262,78 € 1.140.396,59 €
Total: 2.315 24.930.680,23 € 23.260.076,27 € 13.775.924,09 € 1.086.795,39 € 6.813.448,01 €
Credit TypeVehicle Status
Number of Contracts
*Outstanding Nominal Principal
BalanceEnd of Reporting
Period
*Outstanding Discounted
Principal BalanceEnd of Reporting
Period
AutoCredit New 853 1.758.878,35 € 1.731.842,61 €
Used 936 1.257.107,79 € 1.223.080,99 €
Total Auto Credit 1.789 3.015.986,14 € 2.954.923,60 €
Classic Credit New 98 55.217,93 € 52.894,88 €
Used 428 183.308,67 € 176.075,46 €
Total Classic Credit 526 238.526,60 € 228.970,34 €
Total: 2.315 3.254.512,74 € 3.183.893,94 € *(incl. Arrears)
0
2.000.000
4.000.000
6.000.000
8.000.000
10.000.000
in EUR
ReportingPeriod
Defaulted Contracts - Total Outstanding Balance
<= 30 > 30 <= 60 > 60 <= 90 > 90 <= 120 > 120 <= 150 > 150 <= 180 > 180 <= 210
> 210 <= 240 > 240 <= 270 > 270 <= 300 > 300 <= 330 > 330 <= 360 > 360 Total
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 16/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Poolinformation I. - Make: New and Used Cars
AUDI
New or Used CarsNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal
Balance(€)
Percentage of Balance
(%)
New Cars 731 30,16% 10.943.714,13 € 48,75%
Used Cars 1.693 69,84% 11.502.924,47 € 51,25%
Total 2.424 100,00% 22.446.638,60 € 100,00%
SEAT
New or Used CarsNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal
Balance(€)
Percentage of Balance
(%)
New Cars 1.110 65,29% 6.662.150,97 € 76,49%
Used Cars 590 34,71% 2.047.327,33 € 23,51%
Total 1.700 100,00% 8.709.478,30 € 100,00%
SKODA
New or Used CarsNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal
Balance(€)
Percentage of Balance
(%)
New Cars 1.505 70,13% 8.805.827,82 € 80,90%
Used Cars 641 29,87% 2.078.439,28 € 19,10%
Total 2.146 100,00% 10.884.267,10 € 100,00%
VW
New or Used CarsNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal
Balance(€)
Percentage of Balance
(%)
New Cars 7.091 63,59% 57.345.535,10 € 75,55%
Used Cars 4.061 36,41% 18.556.753,07 € 24,45%
Total 11.152 100,00% 75.902.288,17 € 100,00%
OTHER
New or Used CarsNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal
Balance(€)
Percentage of Balance
(%)
New Cars 84 6,23% 358.808,68 € 8,37%
Used Cars 1.264 93,77% 3.927.442,36 € 91,63%
Total 1.348 100,00% 4.286.251,04 € 100,00%
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 17/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Poolinformation II. - Down Payments, Customer Type and Type of Payment
Down Payments
Down PaymentNumber of Loans
Percentage of Loans
(%)
Outstanding Discounted Principal
Balance(€)
Percentage of Balance
(%)
Down Payment/ Purchase Price
in %
No downpayment 4.429 23,60% 26.735.835,89 € 21,87% 0,00%
<= 1.000,00 1.323 7,05% 6.497.045,30 € 5,32% 5,85%
1.000,01 - 2.000,00 1.839 9,80% 9.515.300,01 € 7,78% 12,26%
2.000,01 - 3.000,00 1.825 9,72% 10.562.052,26 € 8,64% 16,88%
3.000,01 - 4.000,00 1.706 9,09% 10.603.560,83 € 8,68% 20,86%
4.000,01 - 5.000,00 1.842 9,81% 12.349.340,22 € 10,10% 23,71%
5.000,01 - 6.000,00 1.236 6,58% 8.972.849,66 € 7,34% 26,27%
6.000,01 - 7.000,00 968 5,16% 7.529.568,09 € 6,16% 29,37%
7.000,01 - 8.000,00 827 4,41% 6.407.399,17 € 5,24% 31,67%
8.000,01 - 9.000,00 487 2,59% 3.897.377,20 € 3,19% 33,77%
9.000,01 - 10.000,00 802 4,27% 6.453.825,34 € 5,28% 35,08%
10.000,01 - 11.000,00 274 1,46% 2.420.069,17 € 1,98% 36,31%
11.000,01 - 12.000,00 256 1,36% 2.182.027,87 € 1,79% 38,70%
12.000,01 - 13.000,00 184 0,98% 1.612.830,31 € 1,32% 39,51%
13.000,01 - 14.000,00 118 0,63% 995.502,99 € 0,81% 42,00%
14.000,01 - 15.000,00 231 1,23% 1.773.134,23 € 1,45% 44,17%
> 15.000,00 423 2,25% 3.721.204,67 € 3,04% 49,89%
Total 18.770 100,00% 122.228.923,21 € 100,00% 21,30%
21,22 €
42.000,00 €
5.451,57 €
4.165,21 €
Customer Type
Customer TypeNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal
Balance(€)
Percentage of Balance
(%)
Corporate 3.805 20,27% 31.455.728,92 € 25,74%
Retail 14.965 79,73% 90.773.194,29 € 74,26%
Total 18.770 100,00% 122.228.923,21 € 100,00%
Type of Payment
Type of PaymentNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal
Balance(€)
Percentage of Balance
(%)
Direct Borrower Account Debit
18.425 98,16% 119.987.894,61 € 98,17%
Other 345 1,84% 2.241.028,60 € 1,83%
Total 18.770 100,00% 122.228.923,21 € 100,00%
Average Down Payment
Statistics
Minimum Down Payment
Maximum Down Payment
Average Down Payment (Customer who did Down Payment)
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 18/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Poolinformation III. - Obligor Concentration
Distribution of Loan Contracts and Vehicles per BorrowerContracts
Concentration
Number of Customers
Percentage of Customers (%)
Number of LoansPercentage of Loans (%)
Outstanding Discounted Principal
Balance (€)
Percentage of Balance (%)
1 18.643 99,67% 18.643 99,32% 121.294.908,35 € 99,24%
2 56 0,30% 112 0,60% 822.990,86 € 0,67%
3 5 0,03% 15 0,08% 111.024,00 € 0,09%
4 0 0,00% 0 0,00% - € 0,00%
5 0 0,00% 0 0,00% - € 0,00%
6 - 10 0 0,00% 0 0,00% - € 0,00%
> 10 1 0,01% 0 0,00% - € 0,00%
Total 18.705 100,00% 18.770 100,00% 122.228.923,21 € 100,00%
Top 20 Borrower
NumberNumber of Contracts
Percentage of Contracts (%)
Outstanding Discounted Principal
Balance (€)
Percentage of Balance
(%)
1 1 0,0053% 65.469,87 € 0,0536%
2 1 0,0053% 59.041,36 € 0,0502%
3 1 0,0053% 50.601,93 € 0,0431%
4 1 0,0053% 45.882,58 € 0,0390%
5 1 0,0053% 42.822,96 € 0,0364%
6 1 0,0053% 42.313,10 € 0,0360%
7 2 0,0107% 40.785,13 € 0,0347%
8 1 0,0053% 40.517,09 € 0,0345%
9 1 0,0053% 39.785,77 € 0,0339%
10 2 0,0107% 39.573,08 € 0,0324%
11 1 0,0053% 39.387,48 € 0,0335%
12 1 0,0053% 39.299,85 € 0,0334%
13 3 0,0160% 38.809,05 € 0,0330%
14 1 0,0053% 38.693,92 € 0,0329%
15 1 0,0053% 38.284,43 € 0,0326%
16 1 0,0053% 37.911,93 € 0,0323%
17 1 0,0053% 37.091,07 € 0,0316%
18 1 0,0053% 37.001,06 € 0,0315%
19 2 0,0107% 36.951,50 € 0,0314%
20 1 0,0053% 36.712,29 € 0,0312%
Total 1 -20 25 0,1332% 846.935,45 € 0,7172%
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 19/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Distribution by Outstanding Discounted Principal Balance
Distribution by Outstanding Discounted
Principal Balance (€)
Number of Loans
Percentage of Loans
(%)
Outstanding Discounted Principal
Balance(€)
Percentage of Balance
(%)
0,01 - 5.000,00 8.046 42,87% 17.711.139,01 € 14,49%
5.000,01 - 10.000,00 6.813 36,30% 49.026.103,62 € 40,11%
10.000,01 - 15.000,00 2.738 14,59% 33.278.889,60 € 27,23%
15.000,01 - 20.000,00 884 4,71% 14.933.146,60 € 12,22%
20.000,01 - 25.000,00 190 1,01% 4.181.391,88 € 3,42%
25.000,01 - 30.000,00 57 0,30% 1.563.950,38 € 1,28%
> 30.000,00 42 0,22% 1.534.302,12 € 1,26%
Total 18.770 100,00% 122.228.923,21 € 100,00%
0,01 €
65.469,87 €
6.511,93 €
Distribution by Original Principal Balance
Distribution by Original Principal Balance (€)
Number of Loans
Percentage of Loans
(%)
Outstanding Discounted Principal
Balance(€)
Percentage of Balance
(%)
0,01 - 5.000,00 197 1,05% 115.698,44 € 0,09%
5.000,01 - 10.000,00 2.785 14,84% 5.630.457,08 € 4,61%
10.000,01 - 15.000,00 5.562 29,63% 24.088.165,29 € 19,71%
15.000,01 - 20.000,00 4.427 23,59% 28.328.885,54 € 23,18%
20.000,01 - 25.000,00 2.631 14,02% 22.637.182,48 € 18,52%
25.000,01 - 30.000,00 1.560 8,31% 17.319.255,18 € 14,17%
> 30.000,00 1.608 8,57% 24.109.279,20 € 19,72%
Total 18.770 100,00% 122.228.923,21 € 100,00%
718,08 €
132.216,91 €
17.738,98 €
Poolinformation IV. - Distribution by Outstanding Discounted Balance and Original Principal Balance
Statistics
Minimum Original Principal Balance
Maximum Original Principal Balance
Average Original Principal Balance
Statistics
Minimum Outstanding Discounted Principal Balance
Maximum Outstanding Discounted Principal Balance
Average Outstanding Discounted Principal Balance
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 20/[Seiten]
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Poolinformation V. - Interest Rate paid by the Receivable Debtor
Interest Rate paid by the Receivable Debtor
Interest Rate paid by the Receivable Debtor
Number of Loans
Percentage of Loans
(%)
Outstanding Discounted Principal Balance
(€)
Percentage of Balance
(%)
0,0 % 0 0,00% - € 0,00%
0,1 % - 0,5 % 68 0,36% 427.947,89 € 0,35%
0,6 % - 1,0 % 3.291 17,53% 24.339.834,83 € 19,91%
1,1 % - 1,5 % 4 0,02% 21.534,29 € 0,02%
1,6 % - 2,0 % 292 1,56% 2.360.969,71 € 1,93%
2,1 % - 2,5 % 11 0,06% 94.527,15 € 0,08%
2,6 % - 3,0 % 3.464 18,45% 30.994.012,39 € 25,36%
3,1 % - 3,5 % 5 0,03% 49.970,61 € 0,04%
3,6 % - 4,0 % 1.285 6,85% 8.067.450,15 € 6,60%
4,1 % - 4,5 % 7 0,04% 39.327,96 € 0,03%
4,6 % - 5,0 % 1.773 9,45% 14.111.030,49 € 11,54%
5,1 % - 5,5 % 193 1,03% 1.742.146,14 € 1,43%
5,6 % - 6,0 % 980 5,22% 6.947.562,83 € 5,68%
6,1 % - 6,5 % 554 2,95% 3.183.784,15 € 2,60%
6,6 % - 7,0 % 3.337 17,78% 15.724.826,03 € 12,87%
7,1 % - 7,5 % 841 4,48% 3.771.432,84 € 3,09%
7,6 % - 8,0 % 1.757 9,36% 7.200.947,43 € 5,89%
8,1 % - 8,5 % 81 0,43% 332.911,44 € 0,27%
8,6 % - 9,0 % 341 1,82% 1.059.099,47 € 0,87%
9,1 % - 9,5 % 10 0,05% 30.115,93 € 0,02%
9,6 % - 10,0 % 352 1,88% 1.344.960,12 € 1,10%
> 10,0 % 124 0,66% 384.531,36 € 0,31%
Total 18.770 100,00% 122.228.923,21 € 100,00%
0,10%
13,49%
6,47%
Statistics
Minimum Interest Rate Debtor
Maximum Interest Rate Debtor
Weighted Average Interest Rate Debtor
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 21/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Poolinformation VI. - Distribution by Original Term, Remaining Term and Seasoning
Distribution by Original Term
Lenght of Original Term (months)
Number of LoansPercentage of
Loans(%)
Outstanding Discounted Principal Balance
(€)
Percentage of Balance
(%)
01 - 12 4 0,02% 23.503,43 € 0,02%
13 - 24 3 0,02% 22.657,68 € 0,02%
25 - 36 29 0,15% 178.798,26 € 0,15%
37 - 48 10.423 55,53% 76.120.328,26 € 62,28%
49 - 60 6.693 35,66% 41.968.608,17 € 34,34%
61 - 72 1.604 8,55% 3.860.153,01 € 3,16%
> 72 14 0,07% 54.874,40 € 0,04%
Total 18.770 100,00% 122.228.923,21 € 100,00%
3
78
52,63
Distribution by Remaining Term
Lenght of Remaining Term (months)
Number of LoansPercentage of
Loans(%)
Outstanding Discounted Principal Balance
(€)
Percentage of Balance
(%)
0 - 12 17.382 92,61% 117.530.421,07 € 96,16%
13 - 24 1.383 7,37% 4.663.589,83 € 3,82%
25 - 36 3 0,02% 19.119,86 € 0,02%
37 - 48 0 0,00% - € 0,00%
49 - 54 0 0,00% - € 0,00%
> 54 2 0,01% 15.792,45 € 0,01%
Total 18.770 100,00% 122.228.923,21 € 100,00%
0
70
4,86
Distribution by Seasoning
Seasoning (months) Number of LoansPercentage of
Loans(%)
Outstanding Discounted Principal Balance
(€)
Percentage of Balance
(%)
<= 6 4 0,02% 23.503,43 € 0,02%
07 - 12 1 0,01% 40.517,09 € 0,03%
13 - 18 3 0,02% 43.507,98 € 0,04%
19 - 24 7 0,04% 36.114,23 € 0,03%
25 - 30 15 0,08% 135.146,76 € 0,11%
31 - 36 55 0,29% 484.721,12 € 0,40%
> 36 18.685 99,55% 121.465.412,60 € 99,38%
Total 18.770 100,00% 122.228.923,21 € 100,00%
47,81Weighted Average Seasoning Term in months
Maximum Original Term months
Weighted Average Original Term month
Statistics
Minimum Remaining Term in months
Statistics
Minimum Original Term months
Maximum Remaining Term in months
Weighted Average Remaining Term in months
Statistics
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 22/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Poolinformation VII. - Credit Type and Type of Car
Credit Type
Credit TypeNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal Balance
(€)
Percentage of Balance
(%)
Balloon 13.401 71,40% 111.563.016,14 € 91,27%
Equal Instalment-Loan 5.369 28,60% 10.665.907,07 € 8,73%
Total 18.770 100,00% 122.228.923,21 € 100,00%
Type of Car
Type of CarNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal Balance
(€)
Percentage of Balance
(%)
New Cars 10.521 56,05% 84.116.036,70 € 68,82%
Used Cars 8.249 43,95% 38.112.886,51 € 31,18%
Total 18.770 100,00% 122.228.923,21 € 100,00%
Type of Car: only Balloon Loans
Type of CarNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal Balance
(€)
Percentage of Balance
(%)
New Cars 8.517 63,55% 80.152.344,86 € 71,84%
Used Cars 4.884 36,45% 31.410.671,28 € 28,16%
Total 13.401 100,00% 111.563.016,14 € 100,00%
Type of Car: only Equal-Installment Loans
Type of CarNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal Balance
(€)
Percentage of Balance
(%)
New Cars 2.004 37,33% 3.963.691,84 € 37,16%
Used Cars 3.365 62,67% 6.702.215,23 € 62,84%
Total 5.369 100,00% 10.665.907,07 € 100,00%
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 23/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Poolinformation VIII. - Distribution by Vehicle Makes and Models
Make ModelNumber of Loans
Percentage of Loans
(%)
Outstanding Discounted Principal Balance
(€)
Percentage of Balance
(%)Audi Audi A2 62 0,33% 150.587,42 € 0,12%
Audi A3 666 3,55% 5.498.576,86 € 4,50%
Audi A4 1.020 5,43% 7.955.824,43 € 6,51%
Audi A5 17 0,09% 344.847,53 € 0,28%
Audi A6 427 2,27% 4.871.745,11 € 3,99%
Audi A8 30 0,16% 547.015,11 € 0,45%
Audi Q7 50 0,27% 1.391.604,22 € 1,14%
Audi TT 150 0,80% 1.684.976,78 € 1,38%
Audi Other 2 0,01% 1.461,14 € 0,00%
Subtotal 2.424 12,91% 22.446.638,60 € 18,36%
Seat Alhambra 97 0,52% 648.805,43 € 0,53%
Altea 56 0,30% 245.530,69 € 0,20%
Arosa 47 0,25% 68.826,62 € 0,06%
Cordoba 17 0,09% 50.638,83 € 0,04%
Ibiza 715 3,81% 2.984.610,54 € 2,44%
Inca 2 0,01% 1.221,29 € 0,00%
Leon 417 2,22% 2.331.321,57 € 1,91%
Toledo 349 1,86% 2.378.523,33 € 1,95%
Subtotal 1.700 9,06% 8.709.478,30 € 7,13%
Skoda Fabia 1.029 5,48% 3.992.287,32 € 3,27%
Felicia 0 0,00% - € 0,00%
Octavia 758 4,04% 4.657.526,98 € 3,81%
Roomster 266 1,42% 1.727.629,58 € 1,41%
Superb 93 0,50% 506.823,22 € 0,41%
Subtotal 2.146 11,43% 10.884.267,10 € 8,90%
VW Eos 225 1,20% 2.957.908,75 € 2,42%
Crafter/LT 26 0,14% 116.769,73 € 0,10%
Phaeton 3 0,02% 29.578,36 € 0,02%
Touran 989 5,27% 8.944.168,03 € 7,32%
Bora 100 0,53% 276.064,60 € 0,23%
Touareg 104 0,55% 1.112.881,63 € 0,91%
New Beetle 72 0,38% 445.899,55 € 0,36%
T4/ T5 684 3,64% 5.753.552,48 € 4,71%
Lupo 110 0,59% 206.474,10 € 0,17%
Vento 5 0,03% 66.471,46 € 0,05%
Polo 2.576 13,72% 14.014.800,92 € 11,47%
Passat 1.259 6,71% 10.840.782,46 € 8,87%
Caddy 307 1,64% 1.453.066,40 € 1,19%
Sharan 414 2,21% 3.269.927,53 € 2,68%
Golf 3.653 19,46% 23.703.373,35 € 19,39%
Fox 540 2,88% 2.143.671,72 € 1,75%
Jetta 85 0,45% 566.897,10 € 0,46%
VW other 0 0,00% - € 0,00%
Subtotal 11.152 59,41% 75.902.288,17 € 62,10%
Non VW Group Vehicles
1.348 7,18% 4.286.251,04 € 3,51%
18.770 100,00% 122.228.923,21 € 100,00%
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 24/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Poolinformation VIIII. - Geographic Distribution
RegionNumber of
Loans
Percentage of Loans
(%)
Outstanding Discounted Principal Balance
(€)
Percentage of Balance
(%)
Baden-Wuerttemberg 2.128 11,34% 15.038.675,95 € 12,30%
Bavaria 2.131 11,35% 14.843.697,16 € 12,14%
Berlin 398 2,12% 2.838.151,65 € 2,32%
Brandenburg 840 4,48% 5.194.992,49 € 4,25%
Bremen 114 0,61% 661.257,61 € 0,54%
Hamburg 313 1,67% 2.008.528,46 € 1,64%
Hesse 1.269 6,76% 8.663.071,11 € 7,09%
Lower Saxony 1.871 9,97% 11.705.889,42 € 9,58%
Mecklenburg-Vorpommern 691 3,68% 4.028.183,83 € 3,30%
North Rhine-Westphalia 3.694 19,68% 23.654.722,50 € 19,35%
Rhineland-Palatinate 839 4,47% 5.397.827,26 € 4,42%
Saarland 139 0,74% 896.886,48 € 0,73%
Saxony 1.610 8,58% 10.154.466,08 € 8,31%
Saxony-Anhalt 1.018 5,42% 6.273.237,69 € 5,13%
Schleswig-Holstein 747 3,98% 4.440.668,27 € 3,63%
Thuringia 968 5,16% 6.428.667,23 € 5,26%
Total 18.770 100,00% 122.228.923,21 € 100,00%
Volkswagen Bank GmbHGifhorner Str. 5738112 BraunschweigTel. +49 531 212 - 9205Fax. +49 531 212 - [email protected] Page 25/26
Information Date: 17.08.2011
Period: 07.2011
Period No.: 42
Glossary
Original Maturity Date: Original Maturity Date of each note as of the inception of the transaction (as of cut off date). Assuming a CPR of 10% and no clean up call.
Scheduled Maturity Date: Maturity Date as of the end of each reporting period. Assuming a CPR of 10% and no clean up call.
Collections: Available Distribution Amount on each payment day as described in the OC
Delinquent contract: The outstanding value of a contract which were past due more than 30 days
Defaulted contract: The outstanding value of a terminated contract
Write Off: the value of contracts which were written off as irrevocable
Discount: Reimbursement of interest which was calculated on the initial term and which was not used eg. due to a termination of a contract.
Recoveries: All money received after a termination of a contract
Net Swap Payment: Driver Five is in a paying position (negative value).
Net Swap Receipt: Driver Five is in a receiving position (positive value).
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