8-K

UNITED STATES

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 (Date of earliest event reported) March 20, 2007

BANK ONE AUTO SECURITIZATION TRUST 2003-1

(Exact name of registrant as specified in its charter)

Delaware	333-107580	Not Available
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification Number)

C/O Wilmington Trust Company
Rodney Square North, 1100 North Market Street, Wilmington, Delaware	19890-1600
(Address of principal executive offices)	(Zip Code)

(302) 282-1039

Registrant’s telephone number, including area code

N/A

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 - Other Events

Item 8.01 Other Events.

This Current Report on Form 8-K is being filed to file a copy of the Monthly Statement dated March 20, 2007 furnished to JPMorgan Chase Bank, as paying agent, by JP Morgan Chase Bank, NA as servicer on behalf of the Bank One Auto Securitization Trust 2003-1 (the “Trust”), to be distributed to the Noteholders and Certificateholders, pursuant to the Sale and Servicing Agreement dated as of August 29, 2003, among the Trust, Bank One Auto Securitization LLC, the Servicer, and JPMorgan Chase Bank.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(c) Exhibits.

The following exhibits are filed as a part of this report:

Exhibit	Description
99.1	Monthly Statement to Noteholders and Certificateholders dated March 20, 2007

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.

JPMorgan Chase Bank, NA
not in its individual capacity but solely as Servicer on behalf of the Trust
By:	/s/ Philip C. McNiel
	Name:	Philip C. McNiel
	Title:	Vice President

Date: March 20, 2007

EX-99.1

Exhibit 99.1

Bank One Auto Securitization Trust 2003-1

Monthly Servicer Certificate

For the Collection Period ended: February 28, 2007

PAGE 1

Distribution Date Summary
			Initial	Begin	End	# days
Distribution Date					3/20/2007
Collection Period				2/1/2007	2/28/2007	28
Monthly Interest Period - Actual				2/20/2007	3/20/2007	28
Monthly Interest - Scheduled						30
Pool Balance			733,163,743.80	97,370,260.77	89,961,087.86	—
Monthly Distribution Summary
	Initial Balance		Beginning Balance	Principal Distribution	Ending Balance	Note Factor
Class A-1 Notes	149,000,000.00		—	—	—	—
Class A-2 Notes	245,000,000.00		—	—	—	—
Class A-3 Notes	151,000,000.00		—	—	—	—
Class A-4 Notes	160,670,000.00		88,249,015.79	6,575,640.96	81,673,374.84	0.5083300
Class B Notes	18,329,000.00		—	—	0.00	0.0000000
Total Securities	723,999,000.00		88,249,015.79	6,575,640.96	81,673,374.84	0.1128087
	Coupon Rate		Monthly Accrued Interest	Prior Interest Carryover	Total Interest Paid	Interest Shortfall
Class A-1 Notes	1.1000	%	—	—	—	—
Class A-2 Notes	1.2900	%	—	—	—	—
Class A-3 Notes	1.8200	%	—	—	—	—
Class A-4 Notes	2.4300	%	178,704.26	—	178,704.26	—
Class B Notes	2.1000	%	—	—	—	—
Total Securities			178,704.26	—	178,704.26	—
Available Collections
Principal Payments Received						7,337,641.78
Interest Payments Received						502,975.60
Receivables Repurchased during collection period - Principal					—	—
Receivables Repurchased during collection period - Interest						—
Recoveries on Defaulted Receivables						50,730.37
Total Available Collections						7,891,347.75
Reserve Account Transfer Amount						—
Total Available Funds						7,891,347.75
Summary of Distributions
Payment of Servicing Fee:						81,141.88
Payment of Class A Interest Amount:						178,704.26
First Priority Principal Distribution Amount:						—
Payment of Class B Monthly Interest:						—
Regular Principal Distribution Amount:						6,575,640.96
Payment to the Reserve Account to Maintain Specified Reserve Balance:						—
Remaining Available Funds (To the Holder(s) of the Certificates)						1,055,860.65
Release of excess reserve						7,345.09
Total Funds Remitted (To the Holder(s) of the Certificates)						1,063,205.74

Bank One Auto Securitization Trust 2003-1

Monthly Servicer Certificate

For the Collection Period ended: February 28, 2007

PAGE 2

Calculation of Servicing Fee
Beginning Pool Balance			97,370,260.77
Multiplied By: Monthly Servicing Fee (1.0%/12)			0.08333	%
Monthly Servicing Fee			81,141.88
Plus: Unpaid Servicing Fees from Prior Periods			—
Servicing Fees Due and Paid			81,141.88
Calculation of Class A Interest Amount Due
Class A-1 Note Interest Accrued			—
Class A-2 Note Interest Accrued			—
Class A-3 Note Interest Accrued			—
Class A-4 Note Interest Accrued			178,704.26
Total Class A Note Interest Accrued During Period			178,704.26
Plus: Interest Shortfalls from Prior Periods			—
Total Class A Note Interest Due			178,704.26
Calculation of Class A Interest Amount Paid
Available Collections After Servicing Fee			7,810,205.87
Available Collection Shortfall			—
Reserve Account Draw			—
Class A Interest Amount Paid			178,704.26
Class A Interest Shortfall Carryforward			—
Calculation of First Priority Principal Distribution Amount Due:
Beginning Class A Note Balance			88,249,015.79
Less: Ending Pool Balance			89,961,087.86
First Priority Principal Distribution Amount			—
Calculation of First Priority Principal Distribution Amount Paid:
Available Collections After Servicing Fee and Class A Interest			7,631,501.61
Available Collections Shortfall			—
Reserve Account Draw			—
First Priority Principal Distribution Amount Paid			—
Calculation of Class B Interest Amount Due
Class B Note Interest Accrued			—
Plus: Interest Shortfalls from Prior Periods			—
Total Class B Note Interest Due			—
Calculation of Class B Interest Amount Paid
Available Collections After Servicing Fee, Class A Interest and First Priority Principal			7,631,501.61
Available Collection Shortfall			—
Reserve Account Draw			—
Class B Interest Amount Paid			—
Class B Interest Shortfall Carryforward			0.00
Calculation of Regular Principal Distribution Amount:
Aggregate Beginning Outstanding Note Balance			88,249,015.79
Less:
Ending Pool Balance	89,961,087.86
Less: Target Overcollateralization Amount	(8,287,713.02	)	81,673,374.84
Less: First Priority Principal Distribution Amount			—
Regular Principal Distribution Amount before Reserve Account Draw Amount			6,575,640.96
Available Funds, before Reserve Account Draw			7,631,501.61
Available Funds Shortfall Amount			—
Reserve Account Draw Amount			—
Regular Principal Distribution Amount Paid			6,575,640.96

Bank One Auto Securitization Trust 2003-1

Monthly Servicer Certificate

For the Collection Period ended: February 28, 2007

PAGE 3

Class A Principal Distribution Amount Due:
The Greater of:
(A) The Beginning Class A-1 Note Balance	—
(B) The Beginning Class A Note Balance minus the lesser of:	88,249,015.79
(i) the product of (x) the Ending Pool Balance and (y) 88.75% plus a % equivalent of a fraction equal to the Reserve Account (prior to deposits) divided by the Ending Pool Balance	81,673,374.84
	6,575,640.96
(ii) the excess of (x) the Ending Pool Balance over (y) the Target Overcollateralization Amount	81,673,374.84
	6,575,640.96
Class A Principal Distribution Amount	6,575,640.96
Class B Principal Distribution Amount Due:
The excess of (A) the sum of (i) the Ending Class A Note Balance and (ii) the Beginning Class B Note Balance over (B) the excess of (x) the Ending Pool Balance and (y) the Target Overcollateralization Amount	—
Class B Principal Distribution Amount	—
Principal Distribution Amount Paid:
Available Collections for Principal Distribution	7,631,501.61
(i) To the Class A Notes, sequentially:
(a) Class A-1 Notes	—
(a) Class A-2 Notes	—
(a) Class A-3 Notes	—
(a) Class A-4 Notes	6,575,640.96
(ii) To the Class B Notes	—
(iii) To the Certificateholder	1,055,860.65
Target Overcollateralization Amount
Lesser of:
(A) 2.25% of the Initial Pool Balance	16,496,184.24
(B) The greater of:
(i) 0.75% of the Initial Pool Balance less the Pre-Addition Reserve Balance	3,658,473.63
(ii) 11.25% of the Ending Pool Balance less the Pre-Addition Reserve Balance	8,287,713.02
Target Overcollateralization Amount	8,287,713.02
Overcollateralization Amount
Beginning Overcollateralization Amount	9,121,244.98
Target Overcollateralization Amount	8,287,713.02
Overcollateralization Excess/(Deficiency)	833,531.95
Overcollateralization Release Amount	833,531.95
Overcollateralization Increase Amount	—
Overcollateralization Amount	8,287,713.02
Reserve Account
Beginning Reserve Account Balance	1,832,909.36
Plus: Interest Accrued	7,345.09
Less: Reserve Account Draw	—
Reserve Account Balance Prior to Deposits	1,840,254.45
Specified Reserve Account Balance is Greater of:
(a) 0.80% of Ending Pool Balance	719,688.70
(b) 0.25% of the Initial Pool Balance	1,832,909.36
Reserve Account (Deficiency)/Excess	7,345.09
Deposit of Excess Available Funds	—
Release of excess reserve	7,345.09
Ending Reserve Account Balance	1,832,909.36

Bank One Auto Securitization Trust 2003-1

Monthly Servicer Certificate

For the Collection Period ended: February 28, 2007

PAGE 4

POOL STATISTICS
Collateral Pool Balance Data:
	Initial		Current
Net Pool Balance	733,163,743.80		89,961,087.86
Number of Current Contracts	41,825		15,787
Weighted Average Loan Rate	6.4000	%	6.4218	%
Weighted Average Remaining Term (months)	56.6		18.1
Net Loss Activity:
	Units		Principal Balance
Principal Losses for Current Collection Period	22		71,531.13
Less: Recoveries from Prior Months Charge offs			50,730.37
Net Principal Losses for Current Collection Period			20,800.76
Monthly Net Loss Rate (Annualized)			0.2564	%
Beginning Net Principal Losses	1,337		8,563,209.96
Net Principal Losses for Current Collection Period	22		20,800.76
Cumulative Net Principal Losses	1,359		8,584,010.72
Cumulative Net Principal Loss Rate			1.1708	%
Receivables for which related Financed Vehicle has been repossessed and not liquidated	18		137,968.93

Delinquencies Aging Profile - End of Period:
	Percentage $		Units	Outstanding Principal Balance
Current	84.99	%	13,878	76,454,576.29
1 - 29 Days Delinquent	12.18	%	1,579	10,961,194.38
30 - 59 Days Delinquent	1.75	%	213	1,576,567.46
60 - 89 Days Delinquent	0.57	%	60	512,563.76
90 - 119 Days Delinquent	0.34	%	40	308,655.74
120-149 Days Delinquent	0.10	%	11	87,660.43
150-179 Days Delinquent	0.06	%	5	50,422.89
180+ Days Delinquent	0.01	%	1	9,446.91
Total			15,787	89,961,087.86

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate on this 16th day of March, 2007.

JPMorgan Chase Bank, NA (formerly Bank One, NA) as Servicer
By:	/s/ Philip C. McNiel
	Philip C. McNiel
	Vice President