Item 1. Business
N/A
Item 1A.
Item 1A. Risk Factors
N/A
Item 1B.
Item 1B. Unresolved Staff Comments
N/A
Item 2.
Item 2. Properties
The Honda Auto Receivables 2005-3 Owner Trust (the ‘‘Trust’’) is a statutory trust formed pursuant to the trust agreement (the ‘‘Agreement’’) between American Honda Receivables Corp., as Depositor (the ‘‘Depositor’’), and Chase Bank USA, National Association, as Owner Trustee.
The Trust has issued four classes of notes (‘‘Class A-1 Notes 3.42005%’’; ‘‘Class A-2 Notes 3.73%’’; ‘‘Class A-3 Notes 3.87%’’ and ‘‘Class A-4 Notes 4.03%’’; collectively, the ‘‘Notes’’) and a class of certificates (the ‘‘Certificates’’). The Notes are backed by a pledge of the Trust's assets. Interest and principal collections from the Trust’s assets will be divided among the various classes of securities in specified proportions.
The Trust's assets include fixed rate motor vehicles retail installment sales contracts secured by new and used Honda and Acura motor vehicles (the ‘‘Receivables’’).
The following tables set forth the number and aggregate principal amount of delinquent receivables, the delinquency rates, and aggregate net losses of the Honda Auto Receivables 2005-3 Owner Trust as of March 31, 2006:
1. Delinquent Contracts:
2. Delinquent Ratio:
3. Aggregate Net Losses:
Item 3.
Item 3. Legal Proceedings
N/A
Item 4.
Item 4. Submission of Matters to a Vote of Security Holders
No vote or consent of the holders of the Notes (the ‘‘Noteholders’’) was solicited for any purpose during the year ended March 31, 2006.
PART II
Item 5.
Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
All Certificates issued by Honda Auto Receivables 2005-3 Owner Trust are held by American Honda Receivables Corp. All holders of record of the Notes issued by Honda Auto Receivables 2005-3 Owner Trust are registered through Cede & Co. as nominee for The Depository Trust Company (‘‘DTC’’). The records of DTC indicate that as of March 31, 2006, there were: (i) ten (10) DTC participants holding a position in the Class A-2 Notes 3.73%; (ii) twenty-nine (29) DTC participants holding a position in the Class A-3 Notes 3.87%; and (iii) twenty-eight (28) DTC participants holding a position in the Class A-4 Notes 4.03%. The other previously issued class is no longer outstanding.
Item 6.
Item 6. Selected Financial Data
N/A
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
N/A
Item 7A.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk
N/A
Item 8.
Item 8. Financial Statements and Supplementary Data
N/A
Item 9.
Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure
N/A
Item 9A.
Item 9A. Controls and Procedures
N/A
Item 9B.
Item 9B. Other Information
N/A
PART III
Item 10.
Item 10. Directors and Executive Officers of the Registrant
N/A
Item 11.
Item 11. Executive Compensation
N/A
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
N/A
Item 13.
Item 13. Certain Relationships and Related Transactions
N/A
Item 14.
Item 14. Principal Accountant Fees and Services
N/A
PART IV
Item 15.
Item 15. Exhibits and Financial Statement Schedules
Exhibits required by Item 601 of Regulation S-K:
Exhibit No. 99(A)
Independent Accountants’ Report
Exhibit No. 99(B)
Servicer’s Annual Compliance Certificate
Exhibit No. 99(C)
Annual Statement to Certificateholders
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Honda Auto Receivables 2005-3 Owner Trust
By: American Honda Finance Corporation, as Servicer
(Registrant)
By: /s/ Paul C. Honda
Paul C. Honda, Assistant Vice President,
Assistant Secretary and Compliance Officer
SERVICER CERTIFICATION
I, Paul C. Honda, certify that:
1. I have reviewed this annual report on Form 10-K, and all reports on Form 8-K containing distribution or servicing reports filed in respect of periods included in the year covered by this annual report, of Honda Auto Receivables 2005-3 Owner Trust;
2. Based on my knowledge, the information in these reports, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading as of the last day of the period covered by this annual report;
3. Based on my knowledge, the distribution or servicing information required to be provided to the trustee by the servicer under the sale and servicing agreement, for inclusion in these reports is included in these reports;
4. Based on my knowledge and upon the annual compliance statement included in the report and required to be delivered to the trustee in accordance with the terms of the sale and servicing agreement, and except as disclosed in the reports, the servicer has fulfilled its obligations under the sale and servicing agreement; and
5. The reports disclose all significant deficiencies relating to the servicer's compliance with the minimum servicing standards, based upon the report provided by an independent public accountant, after conducting a review in compliance with the Uniform Single Attestation Program for Mortgage Bankers or similar procedure, as set forth in the sale and servicing agreement, that is included in these reports.
Date: May 26,
/s/ Paul C. Honda
Paul C. Honda
Assistant Vice President, Assistant Secretary and Compliance Officer of American Honda Finance Corporation,
as servicer of
Honda Auto Receivables 2005-3 Owner Trust