10-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-K

[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended March 31, 2005

OR

[    ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from to

Commission file number 333-104875

Honda Auto Receivables 2004-3 Owner Trust
(Exact name of registrant as specified in its charter)

Delaware				90-6050922
(State or other jurisdiction of incorporation)				(I.R.S Employer Identification No.)

20800 Madrona Avenue Torrance, CA				90503
(Address of principal executive offices)				(Zip Code)

Registrant's telephone number, including area code: (310) 972-2511

Securities registered pursuant to Section 12(b) of the Act:

Title of each class				Name of each exchange on which registered
None				None

Securities registered pursuant to section 12(g) of the Act:

None
(Title of class)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES [X]        NO [    ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.    [X]

Indicate by check mark whether the registrant is an accelerated filer (as defined in Exchange Act Rule 12b-2 of the Act). YES [    ]        NO [X]

Registrant has no voting or non-voting class of common equity outstanding as of the date of this report.

PART I

Item 1. Business

N/A

Item 2. Properties

The Honda Auto Receivables 2004-3 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 Deutsche Bank Trust Company Delaware, as Owner Trustee.

The Trust has issued four classes of notes ("Class A-1 Notes 2.0925%," "Class A-2 Notes 2.48%," "Class A-3 Notes 2.91%" and "Class A-4 Notes 3.28%," collectively, the "Notes") and a class of 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 2004-3 Owner Trust as of March 31, 2005:

1. Delinquent Contracts:

					Contracts			Amount ($000's)
a. 31 - 60 Days Delinquent					1853			24712
b. 61 - 90 Days Delinquent					256			3118
c. 91 Days or More Delinquent					39			456

2. Delinquent Ratio:

								Amount ($000's)
a. Delinquent Balance								28287
b. Total Pool Balance								1276347
c. Delinquency Ratio								2.22%

3. Aggregate Net Losses:

								Amount ($000's)
a. Cumulative Net Losses								2092
b. Original Portfolio								1562279
c. Aggregate Loss Ratio								0.13%

Item 3. Legal Proceedings

N/A

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, 2005.

PART II

Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

All holders of records of the Class A Certificates issued by Honda Auto Receivables 2004-3 Owner Trust (except for American Honda Receivables Corp.) are registered through Cede & Co. as nominee for The Depository Trust Company ("DTC"). The records of DTC indicate that as of March 31, 2005, there were: (i) fourteen (14) DTC participants holding a position in the Class A-1 Notes 2.0925%; (ii) thirty-nine (39) DTC participants holding a position in the Class A-2 Notes 2.48%; (iii) thirty-eight (38) DTC participants holding a position in the Class A-3 Notes 2.91%; and (iv) twenty-seven (27) DTC participants holding a position in the Class A-4 Notes 3.28%.

Item 6. Selected Financial Data

N/A

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

N/A

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

N/A

Item 8. Financial Statements and Supplementary Data

N/A

Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure

N/A

Item 9A. Controls and Procedures

N/A

Item 9B. Other Information

N/A

PART III

Item 10. Directors and Executive Officers of the Registrant

N/A

Item 11. Executive Compensation

N/A

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

N/A

Item 13. Certain Relationships and Related Transactions

N/A

Item 14. Principal Accountant Fees and Services

N/A

PART IV

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 Certificate

Exhibit No. 99(C)	Annual Statement to Certificateholder

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 2004-3 Owner Trust
By: American Honda Finance Corporation, as Servicer
(Registrant)

By:	/s/ John I. Weisickle John I. Weisickle, Vice President

DEPOSITOR CERTIFICATION

I, John I. Weisickle, 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 2004-3 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 and servicing information required to be provided to the trustee by the servicer under the related 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 related 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: June 8, 2005

/s/ John I. Weisickle                                                     
John I. Weisickle
Treasurer of American Honda Receivables Corp.,
as depositor of
Honda Auto Receivables 2004-3 Owner Trust

EX-99.(A)

KPMG LLP

Suite 2000
355 South Grand Avenue
Los Angeles, CA 90071-1568

Independent Accountants' Report

The Board of Directors
American Honda Finance Corporation

Members of the Board:

We have examined management's assertion about American Honda Finance Corporation's (the Company's) compliance with the minimum servicing standards set forth in the Mortgage Bankers Association of America Uniform Single Attestation Program for Mortgage Bankers, as they relate to the servicing of retail automobile loan contracts, as of and for the year ended March 31, 2005 included in the accompanying management's assertion. The minimum servicing standards not considered by the Company to be applicable to the servicing of retail automobile loans include procedures 2, 3 and 4 of section I – Custodial Bank Accounts, procedures 1, 2, 3, and 4 of section III – Disbursements and procedures 2, 3 and 4 of section V – Mortgage Loan Accounting. Management is responsible for the Company's compliance with the applicable minimum servicing standards. Our responsibility is to express an opinion on management's assertion about the Company's compliance based on our examination.

Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, including examining, on a test basis, evidence about the Company's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the minimum servicing standards.

In our opinion, American Honda Finance Corporation has complied, in all material respects, with the aforementioned minimum servicing standards as of and for the year ended March 31, 2005.

/s/   KPMG LLP

June 7, 2005

EX-99.(B)

EXHIBIT 99 (B)

AMERICAN HONDA FINANCE CORPORATION
ANNUAL COMPLIANCE CERTIFICATE

I, John Weisickle, do hereby certify that I am the Vice President/Finance of American Honda Finance Corporation, a California corporation (the "Company"), and further certify on behalf of the Company in its capacity as servicer (the "Servicer") under the Sale and Servicing Agreement (the "Agreement") dated as of October 1, 2004 among the Servicer, American Honda Receivables Corp., as Seller, Deutsche Bank Trust Company Delaware, as Owner Trustee of Honda Auto Receivables 2004-3 Owner Trust and U.S. Bank National Association, as Indenture Trustee as follows:

(i)	A review of the activities of the Servicer during the twelve month period ended March 31, 2005, and of its performance under the Agreement has been made under my supervision;

(ii)	To the best of my knowledge and information, based upon such review, the Servicer has fulfilled all its obligations under the Agreement throughout such period; and

(iii)	To the best of my knowledge and information, no Event of Default nor any event which with the giving of notice or lapse of time, or both, would become an Event of Default under the Agreement, has occurred or is continuing.

This certificate is being delivered to the Trustee pursuant to Section 3.11 of the Sale and Servicing Agreement effective October 1, 2004, which terms and conditions are incorporated in the Agreement.

IN WITNESS WHEREOF, I have hereunto set my hand this 8^th day of June, 2005.

/s/ John Weisickle
Name: John Weisickle
Title: Vice President/Finance

EX-99.(C)

CREDIT SUISSE FIRST BOSTON PAGE 1

AMERICAN HONDA FINANCE CORPORATION
Annual Statement to Certificateholder—Honda Auto Receivables 2004-3 Owner Trust
04/01/04 through 03/31/05

I. ORIGINAL DEAL PARAMETER INPUTS
(A) Total Portfolio Balance				$1,043,550,894.52
(B) Total Securities Balance				$1,043,550,894.52
(C) Class A-1 Notes
(i) Class A-1 Notes Balance				$234,000,000.00
(ii) Class A-1 Notes Percentage (C(i)/B)				22.42%
(iii) Class A-1 Notes Rate				1.14000%
(iv) Class A-1 Notes Accrual Basis				Actual/360
(D) Class A-2 Notes
(i) Class A-2 Notes Balance				$250,000,000.00
(ii) Class A-2 Notes Percentage (D(i)/B)				23.96%
(iii) Class A-2 Notes Rate				1.570%
(iv) Class A-2 Notes Accrual Basis				30/360
(E) Class A-3 Notes
(i) Class A-3 Notes Balance				$305,000,000.00
(ii) Class A-3 Notes Percentage (E(i)/B)				29.23%
(iii) Class A-3 Notes Rate				2.300%
(iv) Class A-3 Notes Accrual Basis				30/360
(F) Class A-4 Notes
(i) Class A-4 Notes Balance				$225,853,000.00
(ii) Class A-4 Notes Percentage (F(i)/B)				21.64%
(iii) Class A-4 Notes Rate				2.960%
(iv) Class A-4 Notes Accrual Basis				30/360
(G) Certificates
(i) Certificates Balance				$28,697,894.52
(ii) Certificates Percentage (G(i)/B)				2.75%
(iii) Certificates Rate				2.960%
(iv) Certificates Accrual Basis				30/360
(H) Servicing Fee Rate				1.00%
(I) Portfolio Summary
(i) Weighted Average Coupon (WAC)				4.34%
(ii) Weighted Average Original Maturity (WAOM)				58.62					months
(iii) Weighted Average Remaining Maturity (WAM)				53.33					months
(iv) Number of Receivables				58,492
(J) Reserve Fund
(i) Reserve Account Initial Deposit Percentage				0.50%
(ii) Reserve Account Initial Deposit				$5,217,754.47
(iii) Specified Reserve Account Percentage				0.75%
(iv) Specified Reserve Account Balance				$7,826,631.71
(K) Yield Supplement Account Deposit				$6,003,156.34
II. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS
(A) Total Portfolio Balance				$1,562,279,257.07
(B) Total Securities Balance				$1,562,279,257.07
(C) Cumulative Note and Certificate Pool Factor				1.0000000
(D) Class A-1 Notes
(i) Class A-1 Notes Balance				$370,000,000.00
(ii) Class A-1 Notes Pool Factor				1.0000000
(iii) Class A-1 Notes Interest Carryover Shortfall				$0.00
(iv) Class A-1 Notes Principal Carryover Shortfall				$0.00
(E) Class A-2 Notes
(i) Class A-2 Notes Balance				$420,000,000.00
(ii) Class A-2 Notes Pool Factor				1.0000000
(iii) Class A-2 Notes Interest Carryover Shortfall				$0.00
(iv) Class A-2 Notes Principal Carryover Shortfall				$0.00
(F) Class A-3 Notes
(i) Class A-3 Notes Balance				$475,000,000.00
(ii) Class A-3 Notes Pool Factor				1.0000000
(iii) Class A-3 Notes Interest Carryover Shortfall				$0.00
(iv) Class A-3 Notes Principal Carryover Shortfall				$0.00
(G) Class A-4 Notes
(i) Class A-4 Notes Balance				$246,505,000.00

(ii) Class A-4 Notes Pool Factor				1.0000000
(iii) Class A-4 Notes Interest Carryover Shortfall				$0.00
(iv) Class A-4 Notes Principal Carryover Shortfall				$0.00
(H) Certificates
(i) Certificates Balance				$50,774,257.07
(ii) Certificates Pool Factor				1.0000000
(iii) Certificates Interest Carryover Shortfall				$0.00
(iv) Certificates Principal Carryover Shortfall				$0.00
(I) Servicing Fee
(i) Servicing Fee Shortfall				$0.00
(J) End of Prior Month Account Balances
(i) Reserve Account				$7,811,396.29
(ii) Yield Supplement Account				$6,413,601.55
(iii) Payahead Account				$0.00
(iv) Advances Outstanding				$0.00
(K) Portfolio Summary as of End of Prior Year
(i) Weighted Average Coupon (WAC)				5.27%
(ii) Weighted Average Remaining Maturity (WAM)				51.28					months
(iii) Number of Receivables				103,811
(L) Note and Certificate Percentages
(i) Note Percentage				100.00%
(ii) Certificate Percentage				0.00%

CREDIT SUISSE FIRST BOSTON PAGE 2

AMERICAN HONDA FINANCE CORPORATION
Annual Statement to Certificateholder—Honda Auto Receivables 2004-3 Owner Trust
04/01/04 through 03/31/05

III. INPUTS FROM THE MAINFRAME
(A) Precomputed Contracts Principal
(i) Scheduled Principal Collections				$0.00
(ii) Prepayments in Full				$0.00
(iii) Prepayments in Full due to Repurchases				$0.00
(B) Precomputed Contracts Total Collections				$0.00
(C) Precomputed Interest Receivables Interest (B-A((i)+(ii)+(iii)))				$0.00
(D) Simple Interest Receivables Principal
(i) Principal Collections				$193,375,363.15
(ii) Prepayments in Full				$88,599,009.57
(iii) Repurchased Receivables Related to Principal				$14,500.35
(E) Simple Interest Receivables Interest
(i) Simple Interest Collections				$38,059,813.90
(F) Payment Advance for Precomputes
(i) Reimbursement of Previous Advances				$0.00
(ii) Current Advance Amount				$0.00
(G) Interest Advance for simple Interest - Net				$393,264.26
(H) Payahead Account
(i) Payments Applied				$0.00
(ii) Additional Payaheads				$0.00
(I) Portfolio Summary as of End of Month
(i) Weighted Average Coupon (WAC)				4.20%
(ii) Weighted Average Remaining Maturity (WAM)				37.70					months
(iii) Remaining Number of Receivables				47,967

(J) Delinquent Receivables				# Units								Dollar Amount
(i) 30-59 Days Delinquent					1,010				2.11	%		$12,618,203.69					0.99	%
(ii) 60-89 Days Delinquent					156				0.33	%		$1,979,517.39					0.16	%
(ii) 90 Days or More Delinquent					21				0.04	%		$313,770.66					0.02	%
(K) Vehicles Repossessed During Collection Period					32				0.07	%		$413,921.49					0.03	%
(L) Total Accumulated Repossessed Vehicles in Inventory					47				0.10	%		$616,334.52					0.05	%

IV. INPUTS DERIVED FROM OTHER SOURCES
(A) Collection Account Investment Income				$0.00
(B) Reserve Account Investment Income				$71,371.05
(C) Yield Supplement Account Investment Income				$52,267.08
(D) Trust Fees Expense				$9,500.00
(E) Aggregate Net Losses for Collection Period				$2,091,868.13
(F) Liquidated Receivables Information
(i) Gross Principal Balance on Liquidated Receivables				$3,943,843.67
(ii) Liquidation Proceeds				$1,732,251.35
(ii) Recoveries from Prior Month Charge Offs				$119,724.19
(G) Days in Accrual Period				174
(H) Deal age				31

COLLECTIONS

V. INTEREST COLLECTIONS
(A) Total Interest Collections (III(C+E(i)+G)				$38,453,078.16
VI. PRINCIPAL COLLECTIONS
(A) Principal Payments Received (III(A((i)+(ii))+(D(i)+(ii)))				$281,974,372.72
(B) Liquidation Proceeds (IV(H(i)))				$1,732,251.35
(C) Repurchased Loan Proceeds Related to Principal (III(A(iii)+D(iii)))				$14,500.35
(D) Recoveries from Prior Charge Offs (IV(H(ii)))				$119,724.19
(E) Total Principal Collections (A+B+C+D)				283,840,848.61
VII. TOTAL INTEREST AND PRINCIPAL COLLECTIONS (V(C)+VI(E))				322,293,926.77
VIII. YIELD SUPPLEMENT DEPOSIT				$1,628,150.23
IX. TOTAL AVAILABLE AMOUNT (VII+VIII)				323,922,077.00

DISTRIBUTIONS
X. FEE DISTRIBUTIONS
(A) Servicing Fee
(i) Servicing Fee Due (I(H)/12)(II(B))+(II(H)(i))				$7,223,352.64
(ii) Servicing Fee Paid				7,223,352.64
(iii) Servicing Fee Shortfall				$0.00
(B) Reserve Account Investment Income (IV(B))				71,371.05
(C) Yield Supplement Account Investment Income (IV(C))				52,267.08
(D) Trust Fees Expense (IV(D))				9,500.00
XI. DISTRIBUTIONS TO NOTEHOLDERS
(A) Interest
(i) Class A-1 Notes
(a) Class A-1 Notes Interest Due				$2,511,780.08
(b) Class A-1 Notes Interest Paid				2,511,780.08
(c) Class A-1 Notes Interest Shortfall				$0.00
(ii) Class A-2 Notes
(a) Class A-2 Notes Interest Due				$4,976,533.33
(b) Class A-2 Notes Interest Paid				4,976,533.33
(c) Class A-2 Notes Interest Shortfall				$0.00
(iii) Class A-3 Notes
(a) Class A-3 Notes Interest Due				$6,604,083.33
(b) Class A-3 Notes Interest Paid				6,604,083.33
(c) Class A-3 Notes Interest Shortfall				$0.00
(iv) Class A-4 Notes
(a) Class A-4 Notes Interest Due				$3,863,007.23
(b) Class A-4 Notes Interest Paid				3,863,007.23
(c) Class A-4 Notes Interest Shortfall				$0.00

CREDIT SUISSE FIRST BOSTON PAGE 3

AMERICAN HONDA FINANCE CORPORATION
Annual Statement to Certificateholder—Honda Auto Receivables 2004-3 Owner Trust
04/01/04 through 03/31/05

(v) Total Note Interest
(a) Total Note Interest Due				$17,955,403.97
(b) Total Note Interest Paid				17,955,403.97
(c) Total Note Interest Shortfall				$0.00
(d) Reserve Fund Withdrawn for Note Interest				$0.00
Amount available for distributions after Fees & Interest (VIII-(IX(A)(ii)-(D))-X(A)(v)(b))				298,733,820.39
(B) Principal
(i) Noteholders' Principal Distribution Amounts				$285,932,716.74
(ii) Class A-1 Notes Principal
(a) Class A-1 Notes Principal Due				285,932,716.74
(b) Class A-1 Notes Principal Paid				285,932,716.74
(c) Class A-1 Notes Principal Shortfall				$0.00
(d) Reserve Fund drawn				$0.00
(iii) Class A-2 Notes Principal
(a) Class A-2 Notes Principal Due				$0.00
(b) Class A-2 Notes Principal Paid				0.00
(c) Class A-2 Notes Principal Shortfall				$0.00
(d) Reserve Fund drawn				$0.00
(iv) Class A-3 Notes Principal
(a) Class A-3 Notes Principal Due				$0.00
(b) Class A-3 Notes Principal Paid				0.00
(c) Class A-3 Notes Principal Shortfall				$0.00
(d) Reserve Fund drawn				$0.00
(v) Class A-4 Notes Principal
(a) Class A-4 Notes Principal Due				$0.00
(b) Class A-4 Notes Principal Paid				0.00
(c) Class A-4 Notes Principal Shortfall				$0.00
(d) Reserve Fund drawn				$0.00
(vi) Total Notes Principal
(a) Total Notes Principal Due				$285,932,716.74
(b) Total Notes Principal Paid				285,932,716.74
(c) Total Notes Principal Shortfall				$0.00
(d) Reserve Fund drawn				$0.00
XII. RESERVE FUND DEPOSIT
Amount available for deposit into reserve account				$12,801,103.65
Amount deposited into reserve account				15,235.42
Excess Amount Released from Reserve Account				0.00
Excess funds available to Certificateholders				12,785,868.23
XIII. DISTRIBUTIONS TO CERTIFICATEHOLDERS
(A) Interest
(i) Certificate Monthly Interest Due				$795,689.03
(ii) Certificate Interest Shortfall Beginning Balance				$0.00
(iii) Total Certificate Interest Due				$795,689.03
(iv) Certificate Interest Paid				795,689.03
(v) Certificate Interest Shortfall Ending Balance				$0.00
(B) Principal
(i) Certificate Monthly Principal Due				$0.00
(ii) Certificate Principal Shortfall Beginning Balance				$0.00
(iii) Total Certificate Principal Due				$0.00
(iv) Certificate Principal Paid				0.00
(v) Certificate Principal Shortfall Ending Balance				$0.00
(C) Release to Seller				$11,990,179.20

DISTRIBUTIONS SUMMARY
(A) Total Collections				$323,922,077.00
(B) Service Fee				$7,223,352.64
(C) Trustee Fees				9,500.00
(D) Class A1 Amount				$288,444,496.82
(E) Class A2 Amount				$4,976,533.33
(F) Class A3 Amount				$6,604,083.33
(G) Class A4 Amount				$3,863,007.23
(H) Amount Deposited into Reserve Account				$15,235.42
(I) Certificateholders				$795,689.03
(J) Release to seller				$11,990,179.20
(K) Total amount distributed				$323,922,077.00
(L) Amount of Draw from Reserve Account				0.00
(M) Excess Amount Released from Reserve Account				0.00

PORTFOLIO AND SECURITY SUMMARY
				Beginning of Period								End of Period
XIV. POOL BALANCES AND PORTFOLIO INFORMATION
(A) Balances and Principal Factors
(i) Aggregate Balance of Notes				$1,511,505,000.00								$1,225,572,283.26
(ii) Note Pool Factor				1.4893832								1.2076353
(iii) Class A-1 Notes Balance				370,000,000.00								84,067,283.26
(iv) Class A-1 Notes Pool Factor				1.0000000								0.3592619
(v) Class A-2 Notes Balance				420,000,000.00								420,000,000.00
(vi) Class A-2 Notes Pool Factor				1.0000000								1.6800000
(vii) Class A-3 Notes Balance				475,000,000.00								475,000,000.00
(viii) Class A-3 Notes Pool Factor				1.0000000								1.5573770
(ix) Class A-4 Notes Balance				246,505,000.00								246,505,000.00
(x) Class A-4 Notes Pool Factor				1.0000000								1.0914400
(xi) Certificates Balance				50,774,257.07								50,774,257.07
(xii) Certificates Pool Factor				1.0000000								1.7692677
(xiii) Total Principal Balance of Notes and Certificates				1,562,279,257.07								1,276,346,540.33
(B) Portfolio Information
(i) Weighted Average Coupon (WAC)				5.27%								4.20%
(ii) Weighted Average Remaining Maturity (WAM)				51.28				months				37.70				months
(iii) Remaining Number of Receivables				103,811								47,967
(iv) Portfolio Receivable Balance				$1,562,279,257.07								$1,276,346,540.33
(C) Outstanding Advance Amount				$0.00								$393,264.26
(D) Outstanding Payahead Balance				$0.00								$0.00

CREDIT SUISSE FIRST BOSTON PAGE 4

AMERICAN HONDA FINANCE CORPORATION
Annual Statement to Certificateholder—Honda Auto Receivables 2004-3 Owner Trust
04/01/04 through 03/31/05

SUMMARY OF ACCOUNTS
XV. RECONCILIATION OF RESERVE ACCOUNT
(A) Beginning Reserve Account Balance				$7,811,396.29
(B) Draws				0.00
(i) Draw for Servicing Fee				0.00
(ii) Draw for Interest				0.00
(iii) Draw for Realized Losses				0.00
(C) Excess Interest Deposited into the Reserve Account				15,235.42
(D) Reserve Account Balance Prior to Release				7,826,631.71
(E) Reserve Account Required Amount				7,826,631.71
(F) Final Reserve Account Required Amount				7,826,631.71
(G) Excess Reserve Account Amount				0.00
(H) Ending Reserve Account Balance				7,826,631.71
XVI. RECONCILIATION OF YIELD SUPPLEMENT ACCOUNT
(A) Beginning Yield Supplement Account Balance				6,413,601.55
(B) Investment Earnings				52,267.08
(C) Investment Earnings Withdraw				52,267.08
(D) Additional Yield Supplement Amounts				0.00
(E) Yield Supplement Deposit Amount				6,413,601.55
(F) Release of Yield Deposit Account Balance to Seller				0.00
(G) Ending Yield Supplement Account Balance				0.00
XVII. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY
(A) Liquidated Contracts
(i) Liquidation Proceeds				$1,732,251.35
(ii) Recoveries on Previously Liquidated Contracts				119,724.19
(B) Aggregate Net Losses for Collection Period				2,091,868.13
(C) Net Loss Rate for Collection Period (annualized)				0.15%
(D) Cumulative Net Losses for all Periods				0.43%

(E) Delinquent Receivables				# Units								Dollar Amount
(i) 30-59 Days Delinquent					1,010				2.11	%		$12,618,203.69					0.99	%
(ii) 60-89 Days Delinquent					156				0.33	%		$1,979,517.39					0.16	%
(ii) 90 Days or More Delinquent					21				0.04	%		$313,770.66					0.02	%
XVIII. REPOSSESSION ACTIVITY				# Units								Dollar Amount
(A) Vehicles Repossessed During Collection Period					32				0.07	%		$413,921.49					0.03	%
(B) Total Accumulated Repossessed Vehicles in Inventory					47				0.10	%		$616,334.52					0.05	%

XIX. TESTS FOR INCREASE IN SPECIFIED RESERVE ACCOUNT BALANCE
(A) Ratio of Net Losses to the Pool Balance as of Each Collection Period
(i) Second Preceding Collection Period				0.22%
(ii) Preceding Collection Period				0.45%
(iii) Current Collection Period				0.43%
(iv) Three Month Average (Avg(i,ii,iii))				0.37%
(B) Ratio of Balance of Contracts Delinquent 60 Days or More to the Outstanding Balance of Receivables.
(i) Second Preceding Collection Period				0.70%
(ii) Preceding Collection Period				0.55%
(iii) Current Collection Period				0.47%
(iv) Three Month Average (Avg(i,ii,iii))				0.57%
(C) Loss and Delinquency Trigger Indicator				Trigger was not hit.

I hereby certify that the servicing report provided is true
and accurate to the best of my knowledge.

By: /s/ John Weisickle
Mr. John Weisickle
Vice President