SALE AND SERVICING AGREEMENT



                                by and among





                       MMCA AUTO OWNER TRUST 2002-1,

                                as the Trust





                        MMCA AUTO RECEIVABLES TRUST,

                                 as Seller





                                    and





                 MITSUBISHI MOTORS CREDIT OF AMERICA, INC.,

                                as Servicer







                         Dated as of March 1, 2002









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                                                    TABLE OF CONTENTS

                                                                                                               Page

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{S}                       {C}                                                                                    {C}

ARTICLE I - DEFINITIONS AND USAGE                                                                                 1



         Section 1.1       Definitions............................................................................1

         Section 1.2       Business Day Certificate...............................................................1



ARTICLE II - TRUST PROPERTY                                                                                       1



         Section 2.1       Conveyance of Trust Property...........................................................1

         Section 2.2       Representations and Warranties of the Seller as to the Receivables.....................6

         Section 2.3       Repurchase upon Breach................................................................12

         Section 2.4       Custody of Receivable Files...........................................................12

         Section 2.5       Duties of Servicer as Custodian.......................................................13

         Section 2.6       Instructions; Authority to Act........................................................14

         Section 2.7       Custodian's Indemnification...........................................................14

         Section 2.8       Effective Period and Termination......................................................14



ARTICLE III - ADMINISTRATION AND SERVICING OF  RECEIVABLES AND TRUST  PROPERTY                                   15



         Section 3.1       Duties of Servicer....................................................................15

         Section 3.2       Collection and Allocation of Receivable Payments......................................18

         Section 3.3       Realization upon Receivables..........................................................20

         Section 3.4       Physical Damage Insurance.............................................................20

         Section 3.5       Maintenance of Security Interests in Financed Vehicles................................20

         Section 3.6       Covenants of Servicer.................................................................20

         Section 3.7       Purchase by Servicer upon Breach......................................................21

         Section 3.8       Servicing Compensation................................................................21

         Section 3.9       Servicer's Certificate................................................................21

         Section 3.10      Annual Statement as to Compliance; Notice of Event of Servicing Termination...........22

         Section 3.11      Annual Independent Certified Public Accountants' Reports..............................22

         Section 3.12      Access to Certain Documentation and Information Regarding Receivables.................23

         Section 3.13      Reports to the Commission.............................................................23

         Section 3.14      Reports to Rating Agencies............................................................23



ARTICLE IV - DISTRIBUTIONS; RESERVE ACCOUNT;  STATEMENTS TO CERTIFICATEHOLDERS AND NOTEHOLDERS                   23



         Section 4.1       Accounts..............................................................................23

         Section 4.2       Collections...........................................................................29

         Section 4.3       Application of Collections............................................................30

         Section 4.4       Advances..............................................................................30

         Section 4.5       Additional Deposits...................................................................31

         Section 4.6       Allocation of Total Available Funds...................................................32

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