WFS Financial 2004-2 Owner Trust

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IGoZnSKT8k/fFZQyIzJpIarDye09xE1hFXKE6z17VvxpUUcE3PNZeUF5ifQxuRvr 2p79yJQXEHsIDxkmgodZBQ== 0000950129-04-008040.txt : 20041026 0000950129-04-008040.hdr.sgml : 20041026 20041026170811 ACCESSION NUMBER: 0000950129-04-008040 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20041020 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041026 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WFS FINANCIAL 2004-2 OWNER TRUST CENTRAL INDEX KEY: 0001291244 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-111670-01 FILM NUMBER: 041097306 BUSINESS ADDRESS: STREET 1: 23 PASTEUR CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: 949-753-3024 MAIL ADDRESS: STREET 1: 23 PASTEUR CITY: IRVINE STATE: CA ZIP: 92618 8-K 1 v02551e8vk.htm FORM 8-K WFS Financial 2004-2 Owner Trust

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 earliest event reported): October 20, 2004

WFS Financial 2004-2 Owner Trust

(Exact name of registrant as specified in charter)


Delaware	333-111670-01	94-3401639

(State or other jurisdiction of incorporation)	(Commission file number)	(IRS employer identification no.)


c/o WFS Receivables Corporation 3 (as Originator of the Trust) 444 East Warm Springs Road # 116
Las Vegas, Nevada		89119

(Address of principal executive offices)		(Zip code)

Registrant’s telephone number, including area code: (702) 407-4317

This filing relates to Registration Statement No. 333-111670-01

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

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

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

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

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

TABLE OF CONTENTS


	ITEM 8.01. OTHER EVENTS
	ITEM 9.01. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
SIGNATURES
INDEX TO EXHIBITS
Exhibit 20.1
Exhibit 20.2

ITEM 8.01. OTHER EVENTS

On March 19, 2004, the Commission declared effective a Registration Statement on Form S-3 (File No. 333-111670) under the Securities Act of 1933, as amended (the “Securities Act”), providing for the issuance by the Originator of several series of asset-backed securities through a series of trusts to be originated by the Originator. The WFS Financial 2004-2 Owner Trust (the “Trust”) is one of the trusts to be so originated and the Trust issued the following securities, consisting of Auto Receivable Backed Notes in seven classes, pursuant to a prospectus dated as of May 6, 2004 consisting of a prospectus supplement and base prospectus (the “Prospectus”):

$240,000,000 1.1668% Class A-1 Notes

$515,000,000 2.03% Class A-2 Notes

$210,000,000 2.85% Class A-3 Notes

$343,750,000 3.54% Class A-4 Notes

$ 56,250,000 3.07% Class B Notes

$ 63,750,000 3.20% Class C Notes

$ 48,750,000 3.77% Class D Notes

The Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes, Class C Notes and Class D Notes (the “Notes”) were issued by the Trust on May 27, 2004. The Notes are secured by the assets of the Trust. The Notes were issued in fully-registered form in denominations of $1,000 and integral multiples thereof. As more fully described in the Prospectus, the assets of the Trust include (i) a pool of retail installment contracts secured by liens on new and pre-owned automobiles and light trucks (“Contracts”) and (ii) certain accounts maintained by the Trustee on behalf of the Trust, including all investments held thereby and all income from the investment of funds therein and all proceeds therefrom. The Trust did not issue any certificates representing ownership interests in the assets of the Trust pursuant to the Prospectus, but did issue certificates to the Originator. The certificates issued to the Originator are not registered pursuant to the Registration Statement, as amended.

Pursuant to the Sale and Servicing Agreement (“Agreement”) entered into by and among the Trust, WFS Financial Inc (the “Master Servicer”) and the Originator of the Trust, the Indenture Trustee will deliver to each Noteholder with respect to each monthly distribution to holders of the Notes a statement (the “Statement to Securityholders”) setting forth certain current information required by the Agreement. In addition, and also as required by the Agreement, the Master Servicer is required to provide to both the Indenture Trustee and the Owner Trustee a report regarding the assets of the Trust and the proceeds received by it therefrom as to the monthly reporting period preceding each Distribution Date (the “Distribution Date Statement”). Copies of the Statement to Securityholders and the Distribution Date Statement with respect to the October 20, 2004 Distribution Date are filed herewith as Exhibits 20.1 and 20.2, respectively, and are incorporated herein by this reference. Pursuant to the Agreement, proceeds of the Contracts and other funds received in the amount of $72,820,857.89 were invested by the Indenture Trustee during the Due Period with respect to the current Distribution Date in the

Page 2

Reinvestment Contract entered into among Western Financial Bank, WFS Financial Auto Loans 2, Inc. and the Indenture Trustee (the “RIC”), or as otherwise required by the Agreement, and $72,820,857.89 was distributed from the RIC or otherwise to the Indenture Trustee for distribution to the holders of the Notes and as otherwise required by the Indenture applicable to the Trust and the Agreement on the current Distribution Date.

No matters occurred within the period as to which this Current Report on Form 8-K relates that would be reportable under Items 1 through 5 of Part II of Form 10-Q.

ITEM 9.01. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

The exhibits listed on the Exhibit Index on page 5 of this Form 8-K are filed herewith.

Page 3

SIGNATURES

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 hereunto duly authorized.


	WFS FINANCIAL 2004-2 OWNER TRUST

	By:	WFS Financial Inc as Master Servicer


Date: October 25, 2004	/s/ MARK OLSON Mark Olson, Senior Vice President and Controller

Page 4

INDEX TO EXHIBITS


Exhibit No.	Description	Page

20.1	Statement to Securityholders as to the October 20, 2004 Distribution Date	—
20.2	Distribution Date Statement dated as of September 30, 2004 for the October 20, 2004 Distribution Date	—

Page 5 EX-20.1 2 v02551exv20w1.txt EXHIBIT 20.1 WFS FINANCIAL 2004-2 OWNER TRUST Statement to Securityholders for Collection Period ended September 30, 2004 for Distribution Date of October 20, 2004 Class A-1 ~~Original Principal Balance 240,000,000.00~~

PER $1000 ORIG PRIN AGGREGATE BALANCES: TOTALS BALANCE Principal Amount of Notes as of Prior Distribution Date 66,471,919.29 276.966330 Principal Amount of Notes as of Current Distribution Date 11,016,547.12 45.902280 Pool Factor 0.045902 PRINCIPAL DISTRIBUTABLE AMOUNT: Note Monthly Principal Distributable Amount 55,455,372.17 231.064051 Plus: Prior Principal Carryover 0.00 0.000000 ---------------- Total Principal Distributable Amount 55,455,372.17 231.064051 Principal Distribution Amount 55,455,372.17 231.064051 ---------------- Current Principal Carryover 0.00 0.000000 INTEREST DISTRIBUTABLE AMOUNT: Note Monthly Interest Distributable Amount 64,632.86 0.269304 Plus: Prior Interest Carryover 0.00 0.000000 ---------------- Total Interest Distributable Amount 64,632.86 0.269304 Interest Distribution Amount 64,632.86 0.269304 ---------------- Current Interest Carryover 0.00 0.000000

PER $1000 AGGREGATE AGGREGATE SECURITY RELATED INFORMATION: ORIG PRIN BAL Aggregate Principal Balance 1,303,694,296.40 Overcollateralization Amount 55,177,749.28 Servicing Fee 1,408,480.00 0.938987 Spread Account 13,036,942.96 Net Change in Spread Account (484,468.98) Net Collections 59,282,073.89 Aggregate Principal Balance of Delinquent Contracts 4,471,249.08 Aggregate Excess Spread Amount - Total Initial Spread Deposit Repayment - ---------------- Certificate Distributable Amount - ================
WFS FINANCIAL 2004-2 OWNER TRUST Statement to Securityholders for Collection Period ended September 30, 2004 for Distribution Date of October 20, 2004 Class A-2 ~~Original Principal Balance 515,000,000.00~~

PER $1000 ORIG PRIN AGGREGATE BALANCES: TOTALS BALANCE Principal Amount of Notes as of Prior Distribution Date 515,000,000.00 1000.000000 Principal Amount of Notes as of Current Distribution Date 515,000,000.00 1000.000000 Pool Factor 1.000000 PRINCIPAL DISTRIBUTABLE AMOUNT: Note Monthly Principal Distributable Amount 0.00 0.000000 Plus: Prior Principal Carryover 0.00 0.000000 ---------------- Total Principal Distributable Amount 0.00 0.000000 Principal Distribution Amount 0.00 0.000000 ---------------- Current Principal Carryover 0.00 0.000000 INTEREST DISTRIBUTABLE AMOUNT: Note Monthly Interest Distributable Amount 871,208.33 1.691667 Plus: Prior Interest Carryover 0.00 0.000000 ---------------- Total Interest Distributable Amount 871,208.33 1.691667 Interest Distribution Amount 871,208.33 1.691667 ---------------- Current Interest Carryover 0.00 0.000000

PER $1000 AGGREGATE AGGREGATE SECURITY RELATED INFORMATION: ORIG PRIN BAL Aggregate Principal Balance 1,303,694,296.40 Overcollateralization Amount 55,177,749.28 Servicing Fee 1,408,480.00 0.938987 Spread Account 13,036,942.96 Net Change in Spread Account (484,468.98) Net Collections 59,282,073.89 Aggregate Principal Balance of Delinquent Contracts 4,471,249.08 Aggregate Excess Spread Amount - Total Initial Spread Deposit Repayment - ---------------- Certificate Distributable Amount - ================
WFS FINANCIAL 2004-2 OWNER TRUST Statement to Securityholders for Collection Period ended September 30, 2004 for Distribution Date of October 20, 2004 Class A-3 ~~Original Principal Balance 210,000,000.00~~

PER $1000 ORIG PRIN AGGREGATE BALANCES: TOTALS BALANCE Principal Amount of Notes as of Prior Distribution Date 210,000,000.00 1000.000000 Principal Amount of Notes as of Current Distribution Date 210,000,000.00 1000.000000 Pool Factor 1.000000 PRINCIPAL DISTRIBUTABLE AMOUNT: Note Monthly Principal Distributable Amount 0.00 0.000000 Plus: Prior Principal Carryover 0.00 0.000000 ---------------- Total Principal Distributable Amount 0.00 0.000000 Principal Distribution Amount 0.00 0.000000 ---------------- Current Principal Carryover 0.00 0.000000 INTEREST DISTRIBUTABLE AMOUNT: Note Monthly Interest Distributable Amount 498,750.00 2.375000 Plus: Prior Interest Carryover 0.00 0.000000 ---------------- Total Interest Distributable Amount 498,750.00 2.375000 Interest Distribution Amount 498,750.00 2.375000 ---------------- Current Interest Carryover 0.00 0.000000

PER $1000 AGGREGATE AGGREGATE SECURITY RELATED INFORMATION: ORIG PRIN BAL Aggregate Principal Balance 1,303,694,296.40 Overcollateralization Amount 55,177,749.28 Servicing Fee 1,408,480.00 0.938987 Spread Account 13,036,942.96 Net Change in Spread Account (484,468.98) Net Collections 59,282,073.89 Aggregate Principal Balance of Delinquent Contracts 4,471,249.08 Aggregate Excess Spread Amount - Total Initial Spread Deposit Repayment - ---------------- Certificate Distributable Amount - ================
WFS FINANCIAL 2004-2 OWNER TRUST Statement to Securityholders for Collection Period ended September 30, 2004 for Distribution Date of October 20, 2004 Class A-4 ~~Original Principal Balance 343,750,000.00~~

PER $1000 ORIG PRIN AGGREGATE BALANCES: TOTALS BALANCE Principal Amount of Notes as of Prior Distribution Date 343,750,000.00 1000.000000 Principal Amount of Notes as of Current Distribution Date 343,750,000.00 1000.000000 Pool Factor 1.000000 PRINCIPAL DISTRIBUTABLE AMOUNT: Note Monthly Principal Distributable Amount 0.00 0.000000 Plus: Prior Principal Carryover 0.00 0.000000 ---------------- Total Principal Distributable Amount 0.00 0.000000 Principal Distribution Amount 0.00 0.000000 ---------------- Current Principal Carryover 0.00 0.000000 INTEREST DISTRIBUTABLE AMOUNT: Note Monthly Interest Distributable Amount 1,014,062.50 2.950000 Plus: Prior Interest Carryover 0.00 0.000000 ---------------- Total Interest Distributable Amount 1,014,062.50 2.950000 Interest Distribution Amount 1,014,062.50 2.950000 ---------------- Current Interest Carryover 0.00 0.000000

PER $1000 AGGREGATE AGGREGATE SECURITY RELATED INFORMATION: ORIG PRIN BAL Aggregate Principal Balance 1,303,694,296.40 Overcollateralization Amount 55,177,749.28 Servicing Fee 1,408,480.00 0.938987 Spread Account 13,036,942.96 Net Change in Spread Account (484,468.98) Net Collections 59,282,073.89 Aggregate Principal Balance of Delinquent Contracts 4,471,249.08 Aggregate Excess Spread Amount - Total Initial Spread Deposit Repayment - ---------------- Certificate Distributable Amount - ================
WFS FINANCIAL 2004-2 OWNER TRUST Statement to Securityholders for Collection Period ended September 30, 2004 for Distribution Date of October 20, 2004 Class B-1 ~~Original Principal Balance 56,250,000.00~~

PER $1000 ORIG PRIN AGGREGATE BALANCES: TOTALS BALANCE Principal Amount of Notes as of Prior Distribution Date 56,250,000.00 1000.000000 Principal Amount of Notes as of Current Distribution Date 56,250,000.00 1000.000000 Pool Factor 1.000000 PRINCIPAL DISTRIBUTABLE AMOUNT: Note Monthly Principal Distributable Amount 0.00 0.000000 Plus: Prior Principal Carryover 0.00 0.000000 ---------------- Total Principal Distributable Amount 0.00 0.000000 Principal Distribution Amount 0.00 0.000000 ---------------- Current Principal Carryover 0.00 0.000000 INTEREST DISTRIBUTABLE AMOUNT: Note Monthly Interest Distributable Amount 143,906.25 2.558333 Plus: Prior Interest Carryover 0.00 0.000000 ---------------- Total Interest Distributable Amount 143,906.25 2.558333 Interest Distribution Amount 143,906.25 2.558333 ---------------- Current Interest Carryover 0.00 0.000000

PER $1000 AGGREGATE AGGREGATE SECURITY RELATED INFORMATION: ORIG PRIN BAL Aggregate Principal Balance 1,303,694,296.40 Overcollateralization Amount 55,177,749.28 Servicing Fee 1,408,480.00 0.938987 Spread Account 13,036,942.96 Net Change in Spread Account (484,468.98) Net Collections 59,282,073.89 Aggregate Principal Balance of Delinquent Contracts 4,471,249.08 Aggregate Excess Spread Amount - Total Initial Spread Deposit Repayment - ---------------- Certificate Distributable Amount - ================
WFS FINANCIAL 2004-2 OWNER TRUST Statement to Securityholders for Collection Period ended September 30, 2004 for Distribution Date of October 20, 2004 Class C-1 ~~Original Principal Balance 63,750,000.00~~

PER $1000 ORIG PRIN AGGREGATE BALANCES: TOTALS BALANCE Principal Amount of Notes as of Prior Distribution Date 63,750,000.00 1000.000000 Principal Amount of Notes as of Current Distribution Date 63,750,000.00 1000.000000 Pool Factor 1.000000 PRINCIPAL DISTRIBUTABLE AMOUNT: Note Monthly Principal Distributable Amount 0.00 0.000000 Plus: Prior Principal Carryover 0.00 0.000000 ---------------- Total Principal Distributable Amount 0.00 0.000000 Principal Distribution Amount 0.00 0.000000 ---------------- Current Principal Carryover 0.00 0.000000 INTEREST DISTRIBUTABLE AMOUNT: Note Monthly Interest Distributable Amount 170,000.00 2.666667 Plus: Prior Interest Carryover 0.00 0.000000 ---------------- Total Interest Distributable Amount 170,000.00 2.666667 Interest Distribution Amount 170,000.00 2.666667 ---------------- Current Interest Carryover 0.00 0.000000

PER $1000 AGGREGATE AGGREGATE SECURITY RELATED INFORMATION: ORIG PRIN BAL Aggregate Principal Balance 1,303,694,296.40 Overcollateralization Amount 55,177,749.28 Servicing Fee 1,408,480.00 0.938987 Spread Account 13,036,942.96 Net Change in Spread Account (484,468.98) Net Collections 59,282,073.89 Aggregate Principal Balance of Delinquent Contracts 4,471,249.08 Aggregate Excess Spread Amount - Total Initial Spread Deposit Repayment - ---------------- Certificate Distributable Amount - ================
WFS FINANCIAL 2004-2 OWNER TRUST Statement to Securityholders for Collection Period ended September 30, 2004 for Distribution Date of October 20, 2004 Class D-1 ~~Original Principal Balance 48,750,000.00~~

PER $1000 ORIG PRIN AGGREGATE BALANCES: TOTALS BALANCE Principal Amount of Notes as of Prior Distribution Date 48,750,000.00 1000.000000 Principal Amount of Notes as of Current Distribution Date 48,750,000.00 1000.000000 Pool Factor 1.000000 PRINCIPAL DISTRIBUTABLE AMOUNT: Note Monthly Principal Distributable Amount 0.00 0.000000 Plus: Prior Principal Carryover 0.00 0.000000 ---------------- Total Principal Distributable Amount 0.00 0.000000 Principal Distribution Amount 0.00 0.000000 ---------------- Current Principal Carryover 0.00 0.000000 INTEREST DISTRIBUTABLE AMOUNT: Note Monthly Interest Distributable Amount 153,156.25 3.141667 Plus: Prior Interest Carryover 0.00 0.000000 ---------------- Total Interest Distributable Amount 153,156.25 3.141667 Interest Distribution Amount 153,156.25 3.141667 ---------------- Current Interest Carryover 0.00 0.000000

PER $1000 AGGREGATE AGGREGATE SECURITY RELATED INFORMATION: ORIG PRIN BAL Aggregate Principal Balance 1,303,694,296.40 Overcollateralization Amount 55,177,749.28 Servicing Fee 1,408,480.00 0.938987 Spread Account 13,036,942.96 Net Change in Spread Account (484,468.98) Net Collections 59,282,073.89 Aggregate Principal Balance of Delinquent Contracts 4,471,249.08 Aggregate Excess Spread Amount - Total Initial Spread Deposit Repayment - ---------------- Certificate Distributable Amount - ================
EX-20.2 3 v02551exv20w2.txt EXHIBIT 20.2 WFS FINANCIAL 2004-2 OWNER TRUST Distribution Date Statement for Collection Period ended September 30, 2004 for Distribution Date of October 20, 2004 COLLECTIONS
DOLLARS Payments received 59,127,822.63 Plus / (Less) : Net Servicer Advances 82,574.85 Investment Earnings on funds in the Collection Account 71,676.41 -------------- Net Collections 59,282,073.89 Plus / (Less) : Funds in Spread Account 13,538,784.00 -------------- Total Available Funds 72,820,857.89 ============== DISTRIBUTIONS Servicing Fee 1,408,480.00 Trustee and Other Fees 4,346.57 ------------------ Total Fee Distribution 1,412,826.57 Note Interest Distribution Amount - Class A-1 64,632.86 Note Interest Distribution Amount - Class A-2 871,208.33 Note Interest Distribution Amount - Class A-3 498,750.00 Note Interest Distribution Amount - Class A-4 1,014,062.50 -------------- 2,448,653.69 Note Principal Distribution Amount - Class A-1 55,455,372.17 Note Principal Distribution Amount - Class A-2 0.00 Note Principal Distribution Amount - Class A-3 0.00 Note Principal Distribution Amount - Class A-4 0.00 -------------- 55,455,372.17 Total Class A Interest and Principal Distribution 57,904,025.86 Note Interest Distribution Amount - Class B-1 143,906.25 Note Principal Distribution Amount - Class B-1 0.00 -------------- Total Class B Interest and Principal Distribution 143,906.25 Note Interest Distribution Amount - Class C-1 170,000.00 Note Principal Distribution Amount - Class C-1 0.00 -------------- Total Class C Interest and Principal Distribution 170,000.00 Note Interest Distribution Amount - Class D-1 153,156.25 Note Principal Distribution Amount - Class D-1 0.00 -------------- Total Class D Interest and Principal Distribution 153,156.25 Spread Account Deposit 13,036,942.96 -------------- Total Distributions 72,820,857.89 ==============
WFS FINANCIAL 2004-2 OWNER TRUST Distribution Date Statement for Collection Period ended September 30, 2004 for Distribution Date of October 20, 2004 PORTFOLIO DATA:
# of loans Beginning Aggregate Principal Balance 88,017 1,352,141,194.19 Less: Principal Payments (22,540,970.11) Full Prepayments (1,987) (22,025,454.50) Partial Prepayments - - Liquidations (266) (3,880,473.18) -------------- (48,446,897.79) ---------------- Ending Aggregate Principal Balance 85,764 1,303,694,296.40 ================ Ending Outstanding Principal Balance of Notes 1,248,516,547.12 Overcollateralization Amount 55,177,749.28 Overcollateralization Level 4.23% OTHER RELATED INFORMATION: Spread Account: Beginning Balance 13,521,411.94 Investment earnings on funds in spread account 17,372.06 Less: Funds included in Total Available Funds (13,538,784.00) Deposits 13,036,942.96 Reductions - -------------- Ending Balance 13,036,942.96 Beginning Initial Deposit 22,500,000.00 Repayments - -------------- Ending Initial Deposit 22,500,000.00 Modified Accounts: Principal Balance 0.00 0.00 Scheduled Balance 0.00 0.00 Servicer Advances: Beginning Unreimbursed Advances 1,104,562.79 Net Advances 82,574.85 -------------- 1,187,137.64 Net Charge-Off Data: Charge-Offs 2,757,771.85 Recoveries (531,655.58) -------------- Net Charge-Offs 2,226,116.27
Delinquencies (P&I): # of loans 30-59 Days 1,319 13,919,997.95 60-89 Days 329 3,371,738.27 90-119 Days 105 1,094,549.96 120 days and over 1 4,960.85 Repossessions 61 626,104.26 Contracts Repurchased (pursuant to Sect. 3.02, 4.07, or 9.01 of the Sale and Servicing Agreement) - - Cumulative Charge-Off Percentage 0.15% WAC 10.8574% WAM 59.137

WFS FINANCIAL 2004-2 OWNER TRUST Distribution Date Statement for Collection Period ended September 30, 2004 for Distribution Date of October 20, 2004
=================================================================================================================================== BEGINNING NOTE MONTHLY TOTAL ORIGINAL OUTSTANDING PRINCIPAL PRIOR PRINCIPAL PRINCIPAL CURRENT PRINCIPAL PRINCIPAL DISTRIBUTABLE PRINCIPAL DISTRIBUTABLE DISTRIBUTION PRINCIPAL CLASSES BALANCE BALANCE AMOUNT CARRYOVER AMOUNT AMOUNT CARRYOVER =================================================================================================================================== A-1 240,000,000.00 66,471,919.29 55,455,372.17 0.00 55,455,372.17 55,455,372.17 0.00 A-2 515,000,000.00 515,000,000.00 0.00 0.00 0.00 0.00 0.00 A-3 210,000,000.00 210,000,000.00 0.00 0.00 0.00 0.00 0.00 A-4 343,750,000.00 343,750,000.00 0.00 0.00 0.00 0.00 0.00 B-1 56,250,000.00 56,250,000.00 0.00 0.00 0.00 0.00 0.00 C-1 63,750,000.00 63,750,000.00 0.00 0.00 0.00 0.00 0.00 D-1 48,750,000.00 48,750,000.00 0.00 0.00 0.00 0.00 0.00 =================================================================================================================================== TOTAL 1,477,500,000.00 1,303,971,919.29 55,455,372.17 0.00 55,455,372.17 55,455,372.17 0.00 ===================================================================================================================================

================================================= REMAINING TOTAL OUTSTANDING PRINCIPAL PRINCIPAL AND INTEREST CLASSES BALANCE DISTRIBUTION ================================================= A-1 11,016,547.12 55,520,005.03 A-2 515,000,000.00 871,208.33 A-3 210,000,000.00 498,750.00 A-4 343,750,000.00 1,014,062.50 B-1 56,250,000.00 143,906.25 C-1 63,750,000.00 170,000.00 D-1 48,750,000.00 153,156.25 ================================================= TOTAL 1,248,516,547.12 58,371,088.36 =================================================

=================================================================================================================================== NOTE MONTHLY TOTAL INTEREST PRIOR INTEREST INTEREST CURRENT DEFICIENCY POLICY NOTE INTEREST DISTRIBUTABLE INTEREST DISTRIBUTABLE DISTRIBUTION INTEREST CLAIM CLAIM CLASSES RATE AMOUNT CARRYOVER AMOUNT AMOUNT CARRYOVER AMOUNT AMOUNT =================================================================================================================================== A-1 1.16680% 64,632.86 0.00 64,632.86 64,632.86 0.00 0.00 0.00 A-2 2.03000% 871,208.33 0.00 871,208.33 871,208.33 0.00 0.00 0.00 A-3 2.85000% 498,750.00 0.00 498,750.00 498,750.00 0.00 0.00 0.00 A-4 3.54000% 1,014,062.50 0.00 1,014,062.50 1,014,062.50 0.00 0.00 0.00 B-1 3.07000% 143,906.25 0.00 143,906.25 143,906.25 0.00 0.00 0.00 C-1 3.20000% 170,000.00 0.00 170,000.00 170,000.00 0.00 0.00 0.00 D-1 3.77000% 153,156.25 0.00 153,156.25 153,156.25 0.00 0.00 0.00 =================================================================================================================================== TOTAL 2,915,716.19 0.00 2,915,716.19 2,915,716.19 0.00 0.00 0.00 ===================================================================================================================================
WFS FINANCIAL 2004-2 OWNER TRUST Officer's Certificate for Collection Period ended September 30, 2004 for Distribution Date of October 20, 2004 Detailed Reporting See Schedule F WFS Financial Inc, as Master Servicer, certifies that all computations presented reflect accurate information as of August 31, 2004. -------------------------------------------- Lori Bice Assistant Vice President Director Technical Accounting -------------------------------------------- Susan Tyner Vice President Assistant Controller ~~-----END PRIVACY-ENHANCED MESSAGE-----~~

Table of Contents

Table of Contents

Table of Contents

Table of Contents

Table of Contents

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

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

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

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