| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 188.7 | 12.4% | 19.15% | 0.28 | 5.53% | +13 I-curve | 2025-05-20 | A-1+ | F1+ |
| Class A-2-A | 294.5 | 19.4% | 19.15% | 1.16 | 5.43% | +42 I-curve | 2026-09-21 | AAA | AAA |
| Class A-2-B | 220.0 | 14.5% | 19.15% | 1.16 | floating | +42 SOFR | 2026-09-21 | AAA | AAA |
| Class A-3 | 465.5 | 30.6% | 19.15% | 1.97 | 5.39% | +62 I-curve | 2027-07-20 | AAA | AAA |
| Class A-4 | 65.5 | 4.3% | 19.15% | 2.37 | 5.36% | +67 I-curve | 2028-05-22 | AAA | AAA |
| Class B | 66.2 | 4.4% | 14.80% | 2.48 | 5.56% | +90 I-curve | 2028-05-22 | AA | AA |
| Class Cretained | 61.7 | 4.1% | 10.75% | — | — | — | — | — | — |
| Class Dretained | 38.0 | 2.5% | 8.25% | 1.30 | — | — | — | — | — |
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 | GMF Leasing LLC |
| Indenture Trustee | Wilmington Trust Company |
| Owner Trustee | Wilmington Trust Company |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | BMO Capital Markets, BofA Securities, Deutsche Bank Securities, Goldman Sachs, RBC Capital Markets, BNP Paribas Securities |
| GMALT 2024-2 | GMALT 2024-1 | GMALT 2023-3 | GMALT 2023-2 | GMALT 2023-1 | GMALT 2021-3 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-05-16 | 2024-02-15 | 2023-08-16 | 2023-05-17 | 2023-02-16 | 2021-08-18 | 424B5 |
| Pool balance | $1,521.8MM | $1,755.9MM | $1,169.3MM | $1,397.2MM | $1,676.1MM | $1,372.0MM | 424B5 |
| WA Lessee Credit Score | 781+1 | 781 | 780 | 780 | 778 | 776 | 424B5 |
| WA original term mo | 35.0−2.0 | 36.0 mo | 36.0 mo | 37.0 mo | 37.0 mo | 37.0 mo | 424B5 |
| WA Residual % MSRP | 53.1% | 53.0% | 52.4% | 52.4% | 52.6% | 49.2% | calc |
| ALG-marked residuals | 96.0% | 95.6% | 97.1% | 95.8% | 92.0% | 95.0% | calc |
| WA Securitization Value | $32,378 | $31,900 | $30,631 | $30,255 | $29,478 | $28,316 | calc |
| Top-3 model concentration | 37.9% | 35.1% | 36.4% | 34.4% | 34.4% | 32.8% | calc |
| Geo top-3 | MI 29.3% NY 16.1% FL 8.5% | MI 31.2% NY 15.1% FL 7.2% | MI 29.2% NY 16.4% FL 8.5% | MI 29.5% NY 15.8% FL 9.2% | MI 29.2% NY 16.8% OH 8.7% | MI 28.1% NY 15.5% OH 8.0% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 19.15%0.00pp | 19.15% | 19.15% | 19.15% | 19.15% | 16.00% | calc |
| Enhancement, target | 21.65% | 21.65% | 21.65% | 21.65% | 21.65% | 17.50% | calc |
| Subordinate notes | 10.9%0.0pp | 10.9% | 10.9% | 10.9% | 10.9% | 10.2% | calc |
| Initial OC | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 5.50% | 424B5 |
| Target OC | 10.50% | 10.50% | 10.50% | 10.50% | 10.50% | 7.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| Pricing | |||||||
| AAA spread | +62 bps−8bps A-3 · 2.0y | +70 bps A-3 · 2.0y | +70 bps A-3 · 2.0y | +110 bps A-3 · 2.0y | — | +7 bps A-2 · 1.1y | FWP |
| Terms | |||||||
| Discount rate | 9.50% | 9.75% | 10.00% | 9.50% | 9.50% | 6.00% | 424B5 |
| Tranches | 8 | 8 | 8 | 8 | 8 | 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.
| GMALT 2024-2 | WOALT 2024-A | Source | |
|---|---|---|---|
| Collateral (pool at cut-off) | |||
| Closing date | 2024-05-16 | 2024-04-17 | 424B5 |
| Pool balance | $1,521.8MM | $991.2MM | 424B5 |
| WA Lessee Credit Score | 781 | 747 | 424B5 |
| WA original term mo | 35.0 | 38.3 mo | 424B5 |
| WA Residual % MSRP | 53.1% | 57.4% | calc |
| ALG-marked residuals | 96.0% | 100.0% | calc |
| WA Securitization Value | $32,378 | $29,019 | calc |
| Top-3 model concentration | 37.9% | 34.1% | calc |
| Geo top-3 | MI 29.3% NY 16.1% FL 8.5% | FL 62.5% NC 15.7% GA 7.7% | 424B5 |
| Enhancement beneath the AAA term notes | |||
| Enhancement, initial | 19.15% | 17.00% | calc |
| Enhancement, target | 21.65% | 18.75% | calc |
| Subordinate notes | 10.9% | 4.7% | calc |
| Initial OC | 8.00% | 11.75% | 424B5 |
| Target OC | 10.50% | 13.50% | 424B5 |
| Reserve account | 0.25% | 0.50% | 424B5 |
| Pricing | |||
| AAA spread | +62 bps A-3 · 2.0y | +64 bps A-3 · 2.3y | FWP |
| Terms | |||
| Discount rate | 9.50% | 10.80% | 424B5 |
| Tranches | 8 | 6 | 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.
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
| Latest CRR | 103.58% |
|---|---|
| Realized G/L (% of scheduled) | 3.58% |
| Returned vehicles to date | 12,765 |
CRR = realized residual ÷ scheduled residual on returned vehicles. >100% = pool recovered above booked residuals.