| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 290.0 | 17.3% | 32.10% | 0.14 | 5.62% | +24 I-curve | 2025-06-18 | A-1+ | P-1 |
| Class A-2-A | 271.0 | 16.2% | 32.10% | 0.80 | 5.75% | — | 2028-02-18 | AAA | Aaa |
| Class A-2-B | 225.0 | 13.4% | 32.10% | 0.80 | floating | +60 SOFR | 2028-02-18 | AAA | Aaa |
| Class A-3 | 368.9 | 22.0% | 32.10% | 1.98 | 5.43% | +68 I-curve | 2029-01-18 | AAA | Aaa |
| Class B | 108.9 | 6.5% | 25.60% | 2.79 | 5.38% | +80 I-curve | 2029-06-18 | AA | Aa2 |
| Class Cretained | 136.6 | 8.1% | 17.45% | 3.30 | — | — | — | A | A2 |
| Class D | 131.5 | 7.8% | 9.60% | — | — | — | — | — | — |
| Class Eretained | 47.8 | 2.8% | 6.75% | — | — | — | — | — | — |
Enhancement: subordinate notes, overcollateralization and reserve beneath the class, as a share of the pool net of any yield supplement (the adjusted pool, as the issuers and rating agencies measure it); the Class A notes share losses pari passu, so each carries the same figure. Spread: basis points over the benchmark named beside it, from the pricing term sheet — the interpolated curve for fixed-rate classes, 30-day average SOFR for floaters; the two are not comparable. A class marked retained was kept by the depositor, as the prospectus states.
| Sponsor | AmeriCredit Financial Services, Inc. |
|---|---|
| Servicer | AmeriCredit Financial Services, Inc. |
| Depositor / Transferor | AFS SenSub Corp. |
| Indenture Trustee | — |
| Owner Trustee | Wilmington Trust Company |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | Barclays Capital, BNP Paribas Securities, Morgan Stanley, Wells Fargo Securities, Deutsche Bank Securities, Goldman Sachs |
| AMCAR 2024-1 | AMCAR 2023-2 | AMCAR 2023-1 | AMCAR 2022-2 | AMCAR 2022-1 | AMCAR 2021-3 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-05-29 | 2023-09-20 | 2023-03-15 | 2022-06-22 | 2022-03-16 | 2021-11-17 | 424B5 |
| Pool balance | $1,675.9MM | $1,591.5MM | $1,362.9MM | $1,434.9MM | $1,167.3MM | $956.5MM | 424B5 |
| WA Credit Score | 588−1 | 590 | 589 | 599 | 589 | 587 | 424B5 |
| WA APR | 16.18%+4.12pp | 14.71% | 13.28% | 12.06% | 11.64% | 11.69% | 424B5 |
| WA original term mo | 71.0−2.0 | 74.0 mo | 74.0 mo | 71.0 mo | 73.0 mo | 71.0 mo | 424B5 |
| % new vehicles | 56.9% | 51.8% | 51.8% | 55.0% | 55.0% | 55.9% | 424B5 |
| Geo top-3 | TX 16.3% FL 7.4% OH 7.1% | TX 15.7% FL 8.0% OH 6.6% | TX 17.4% FL 8.2% OH 6.5% | TX 16.2% FL 8.4% OH 6.7% | TX 15.7% FL 8.0% OH 6.7% | TX 15.8% FL 7.8% OH 7.2% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 32.10%−1.00pp | 33.10% | 33.10% | 33.10% | 33.10% | 33.10% | calc |
| Enhancement, target | 41.10% | 42.10% | 42.10% | 42.10% | 42.10% | 42.10% | calc |
| Subordinate notes | 25.3%0.0pp | 25.4% | 25.4% | 25.3% | 25.3% | 25.3% | calc |
| OC (initial) | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 5.75% | 424B5 |
| OC target | 14.75% | 14.75% | 14.75% | 14.75% | 14.75% | 14.75% | 424B5 |
| OC floor | — | — | — | — | — | — | 424B5 |
| Reserve account | 1.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 424B5 |
| YSOC | — | — | — | — | — | — | 424B5 |
| Pricing | |||||||
| AAA spread | +68 bps−18bps A-3 · 2.0y | +95 bps A-3 · 2.2y | +78 bps A-3 · 2.2y | +100 bps A-3 · 2.2y | — | +11 bps A-3 · 2.1y | FWP |
| Terms | |||||||
| Tranches | 8 | 7 | 8 | 8 | 7 | 7 | FWP |
Enhancement: subordinate notes, overcollateralization and the reserve account as a share of the cutoff-date pool — the losses the pool can absorb before the AAA term notes are touched. AAA spread: the pricing spread over the interpolated curve for the fixed-rate AAA class whose weighted-average life is nearest two years, with that class and its WAL shown; floating-rate classes are never used. Source: 424B5 = final prospectus, FWP = pricing term sheet, calc = derived from the above. Deltas are against the peer median; green means more protection, or a cheaper price for it, for the noteholder.
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
| AMCAR 2024-1 | EART 2024-3 | BLAST 2024-2 | SDART 2024-2 | DRIVE 2024-1 | CRVNA 2021-N4 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-05-29 | 2024-05-28 | 2024-04-24 | 2024-04-24 | 2024-02-21 | 2021-12-15 | 424B5 |
| Pool balance | $1,675.9MM | $869.8MM | $700.0MM | $1,768.8MM | $1,642.6MM | $460.0MM | 424B5 |
| WA Credit Score | 588+2 | 591 | 552 | 606 | 586 | 578 | 424B5 |
| WA APR | 16.18%−3.66pp | 22.92% | 23.15% | 18.38% | 19.84% | 18.82% | 424B5 |
| WA original term mo | 71.0−0.2 | 74.0 mo | 65.0 mo | 71.0 mo | 71.2 mo | 72.0 mo | 424B5 |
| % new vehicles | 56.9% | — | 0.1% | 30.4% | 19.1% | — | 424B5 |
| Geo top-3 | TX 16.3% FL 7.4% OH 7.1% | TX 15.4% CA 9.6% FL 8.0% | FL 13.3% TX 13.0% GA 9.6% | TX 16.8% FL 12.9% CA 8.0% | TX 21.2% FL 12.8% CA 8.2% | TX 10.9% CA 7.0% FL 6.9% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 32.10%−23.75pp | 57.75% | 55.85% | 42.25% | 56.35% | 49.85% | calc |
| Enhancement, target | 41.10% | 66.75% | 60.35% | 47.85% | 65.60% | 52.85% | calc |
| Subordinate notes | 25.3%−14.0pp | 50.5% | 39.3% | 32.3% | 22.3% | 48.6% | calc |
| OC (initial) | 5.75% | 6.25% | 15.00% | 9.00% | 33.10% | 0.00% | 424B5 |
| OC target | 14.75% | 15.25% | 19.50% | 14.60% | 42.35% | 3.00% | 424B5 |
| OC floor | — | 1.50% | 3.25% | 2.00% | 3.50% | 1.25% | 424B5 |
| Reserve account | 1.00% | 1.00% | 1.50% | 1.00% | 1.00% | 1.25% | 424B5 |
| YSOC | — | n.a. | n.a. | n.a. | n.a. | n.a. | 424B5 |
| Pricing | |||||||
| AAA spread | +68 bps−2bps A-3 · 2.0y | +68 bps A-3 · 1.3y | +85 bps A-3 · 1.4y | +70 bps A-3 · 1.8y | +73 bps A-3 · 1.4y | +45 bps A-1 · 0.9y | FWP |
| Terms | |||||||
| Tranches | 8 | 7 | 7 | 6 | 5 | 7 | FWP |
Enhancement: subordinate notes, overcollateralization and the reserve account as a share of the cutoff-date pool — the losses the pool can absorb before the AAA term notes are touched. AAA spread: the pricing spread over the interpolated curve for the fixed-rate AAA class whose weighted-average life is nearest two years, with that class and its WAL shown; floating-rate classes are never used. Source: 424B5 = final prospectus, FWP = pricing term sheet, calc = derived from the above. Deltas are against the peer median; green means more protection, or a cheaper price for it, for the noteholder.
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
Left: per-series cumulative NET loss at matched seasoning 10-D (10-D servicer distribution reports). IQR band uses a fixed cohort of all peer series with ≥18 months of data (70 series across 6 issuers). Right: portfolio-level 60+ DQ rate aggregated across all active deals per issuer (calendar time, last 3 years), from ABS-EE loan-level data ABS-EE.
AmeriCredit Financial Services, Inc. — ticker AMCAR.
Peer tier: subprime.
Open the performance page ↗ for
FICO sub-band and new/used stratification.