| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 134.3 | 10.9% | 70.1% | 4.36% fxd | 0.30 | 2026-08-20 | A-1+ | F1+ |
| Class A-2-A | 215.6 | 17.6% | 52.5% | 4.19% fxd | 1.12 | 2027-10-20 | AAA | AAA |
| Class A-2-B | 135.0 | 11.0% | 41.5% | +35 bps SOFR | 1.12 | 2027-10-20 | AAA | AAA |
| Class A-3 | 350.5 | 28.5% | 13.0% | 4.17% fxd | 1.85 | 2028-08-21 | AAA | AAA |
| Class A-4 | 65.0 | 5.3% | 7.7% | 4.20% fxd | 2.28 | 2029-08-20 | AAA | AAA |
| Class B | 49.2 | 4.0% | 3.7% | 4.41% fxd | 2.41 | 2029-08-20 | AA | AA |
| Class C | 45.3 | 3.7% | 0.0% | 4.60% fxd | 2.55 | 2030-01-22 | A | A |
| Sponsor | GM Financial |
|---|---|
| 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 | Barclays Capital, BofA Securities, Credit Agricole Securities, J.P. Morgan Securities, Goldman Sachs, Loop Capital Markets |
| GMALT 2024-3 | GMALT 2025-2 | GMALT 2025-1 | GMALT 2024-3 | GMALT 2024-2 | GMALT 2024-1 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-08-13 | 2025-05-29 | 2025-02-12 | 2024-10-02 | 2024-05-16 | 2024-02-15 |
| Pool balance | $1,228.4MM | $1,617.3MM | $2,183.2MM | $1,626.0MM | $1,654.1MM | — |
| WA Lessee Credit Score | 7810 | 780 | 781 | 781 | 781 | 781 |
| WA original term mo | 35.00.0 | 35.0 mo | 35.0 mo | 36.0 mo | 35.0 mo | 36.0 mo |
| WA Residual % MSRP | 52.5% | 51.8% | 52.5% | 52.5% | 53.1% | 62.0% |
| ALG-marked residuals | 96.9% | 96.0% | 95.9% | 96.9% | 96.0% | — |
| WA Securitization Value | $30,172 | $30,103 | $32,648 | $30,172 | $29,527 | $31,305 |
| Top-3 model concentration | 37.7% | 35.4% | 37.9% | 37.7% | 38.5% | — |
| Geo top-3 | MI 27.3% NY 14.8% FL 9.7% | MI 29.3% NY 14.1% FL 7.6% | MI 27.5% NY 15.0% FL 9.1% | MI 29.0% NY 16.1% FL 8.5% | MI 29.3% NY 16.1% FL 8.5% | MI 31.2% NY 15.1% FL 7.2% |
| Structure (at issuance) | ||||||
| AAA spread | +35 bps−10bps | +50 bps | +41 bps | +47 bps | +42 bps | +45 bps |
| AAA % of pool | 62.4%−0.5pp | 61.7% | 62.9% | 62.5% | 63.2% | 78.5% |
| Initial OC | 10.00% | 10.00% | 10.00% | 10.00% | 8.00% | — |
| Target OC | 11.00% | 11.00% | 11.00% | 11.00% | 10.50% | — |
| Subordination below AAA | 7.7%−0.0pp | 7.7% | 7.7% | 7.7% | 10.0% | 5.1% |
| Total Hard CE (Initial) | 19.75% | 19.76% | 19.12% | 19.12% | 19.37% | — |
| Total Hard CE (Target) | 20.75% | 20.76% | 20.12% | 20.12% | 21.87% | — |
| Discount rate | 9.00% | 9.25% | 9.50% | 9.50% | 9.50% | — |
| Tranches | 7 | 7 | 7 | 7 | 8 | 6 |
| GMALT 2024-3 | FCALT 2025-B | NALT 2025-B | VWALT 2025-A | BMWLT 2025-1 | MBALT 2025-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-08-13 | 2025-07-29 | 2025-07-29 | 2025-06-17 | 2025-06-10 | 2025-05-21 |
| Pool balance | $1,228.4MM | $1,560.5MM | $1,271.8MM | $1,457.7MM | $1,554.4MM | $1,197.1MM |
| WA Lessee Credit Score | 781+5 | 764 | 759 | 776 | 792 | 786 |
| WA original term mo | 35.0−1.0 | 35.8 mo | 36.0 mo | — | 36.0 mo | 40.4 mo |
| WA Residual % MSRP | 52.5% | 49.8% | 49.5% | 48.5% | 48.0% | 44.3% |
| ALG-marked residuals | 96.9% | 85.2% | 100.0% | 99.3% | 100.0% | 94.0% |
| WA Securitization Value | $30,172 | $33,269 | $26,224 | $27,803 | $42,435 | $45,969 |
| Top-3 model concentration | 37.7% | 54.5% | 50.3% | 51.6% | 17.6% | 21.9% |
| Geo top-3 | MI 27.3% NY 14.8% FL 9.7% | MI 33.4% NY 10.5% CA 8.4% | NY 16.7% NJ 15.5% FL 11.2% | CA 16.1% FL 15.9% NY 13.9% | CA 18.0% FL 15.0% NY 9.3% | CA 22.9% FL 16.3% NY 12.6% |
| Structure (at issuance) | ||||||
| AAA spread | +35 bps−5bps | +39 bps | +47 bps | +40 bps | +39 bps | +52 bps |
| AAA % of pool | 62.4%−9.8pp | 70.2% | 65.8% | 72.2% | 73.7% | 88.5% |
| Initial OC | 10.00% | 7.00% | 11.15% | 14.25% | 13.15% | 11.50% |
| Target OC | 11.00% | 9.00% | — | 17.25% | 15.65% | 13.00% |
| Subordination below AAA | 7.7%+7.7pp | 12.9% | 5.6% | 0.0% | 0.0% | 0.0% |
| Total Hard CE (Initial) | 19.75% | 20.85% | 18.70% | 14.50% | 13.40% | 11.75% |
| Total Hard CE (Target) | 20.75% | 22.85% | — | 17.50% | 15.90% | 13.25% |
| Discount rate | 9.00% | 9.30% | 10.00% | 10.00% | 10.85% | 10.80% |
| Tranches | 7 | 8 | 7 | 5 | 5 | 5 |
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
| Latest CRR | 99.18% |
|---|---|
| Realized G/L (% of scheduled) | -0.82% |
| Returned vehicles to date | 8,683 |
CRR = realized residual ÷ scheduled residual on returned vehicles. >100% = pool recovered above booked residuals.