| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 175.8 | 12.0% | 18.80% | 0.26 | 4.75% | +12 I-curve | 2025-10-20 | A-1+ | F1+ |
| Class A-2-A | 229.7 | 15.7% | 18.80% | 1.11 | 4.29% | — | 2027-01-20 | AAA | AAA |
| Class A-2-B | 265.0 | 18.1% | 18.80% | 1.11 | floating | +47 SOFR | 2027-01-20 | AAA | AAA |
| Class A-3 | 450.0 | 30.8% | 18.80% | 1.84 | 4.21% | +66 I-curve | 2027-10-20 | AAA | AAA |
| Class A-4 | 71.5 | 4.9% | 18.80% | 2.25 | 4.22% | +73 I-curve | 2028-10-20 | AAA | AAA |
| Class B | 65.1 | 4.4% | 14.35% | 2.38 | 4.49% | +102 I-curve | 2028-10-20 | AA | AA |
| Class Cretained | 60.0 | 4.1% | 10.25% | 2.52 | — | — | — | A | A |
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 | Credit Agricole Securities, TD Securities, Wells Fargo Securities, BNP Paribas Securities, MUFG Securities Americas, Scotia Capital |
| GMALT 2024-3 | GMALT 2024-2 | GMALT 2024-1 | GMALT 2023-3 | GMALT 2023-2 | GMALT 2023-1 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-10-02 | 2024-05-16 | 2024-02-15 | 2023-08-16 | 2023-05-17 | 2023-02-16 | 424B5 |
| Pool balance | $1,463.4MM | $1,521.8MM | $1,755.9MM | $1,169.3MM | $1,397.2MM | $1,676.1MM | 424B5 |
| WA Lessee Credit Score | 781+1 | 781 | 781 | 780 | 780 | 778 | 424B5 |
| WA original term mo | 36.00.0 | 35.0 mo | 36.0 mo | 36.0 mo | 37.0 mo | 37.0 mo | 424B5 |
| WA Residual % MSRP | 52.5% | 53.1% | 53.0% | 52.4% | 52.4% | 52.6% | calc |
| ALG-marked residuals | 96.9% | 96.0% | 95.6% | 97.1% | 95.8% | 92.0% | calc |
| WA Securitization Value | $31,703 | $32,378 | $31,900 | $30,631 | $30,255 | $29,478 | calc |
| Top-3 model concentration | 37.4% | 37.9% | 35.1% | 36.4% | 34.4% | 34.4% | calc |
| Geo top-3 | 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% | 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% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 18.80%−0.35pp | 19.15% | 19.15% | 19.15% | 19.15% | 19.15% | calc |
| Enhancement, target | 19.80% | 21.65% | 21.65% | 21.65% | 21.65% | 21.65% | calc |
| Subordinate notes | 8.5%−2.4pp | 10.9% | 10.9% | 10.9% | 10.9% | 10.9% | calc |
| Initial OC | 10.00% | 8.00% | 8.00% | 8.00% | 8.00% | 8.00% | 424B5 |
| Target OC | 11.00% | 10.50% | 10.50% | 10.50% | 10.50% | 10.50% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| Pricing | |||||||
| AAA spread | +66 bps−4bps A-3 · 1.8y | +62 bps A-3 · 2.0y | +70 bps A-3 · 2.0y | +70 bps A-3 · 2.0y | +110 bps A-3 · 2.0y | — | FWP |
| Terms | |||||||
| Discount rate | 9.50% | 9.50% | 9.75% | 10.00% | 9.50% | 9.50% | 424B5 |
| Tranches | 7 | 8 | 8 | 8 | 8 | 8 | 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 2024-3 | MBALT 2024-B | NALT 2024-B | FCALT 2024-B | WOALT 2024-A | Source | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-10-02 | 2024-09-25 | 2024-07-24 | 2024-07-23 | 2024-04-17 | 424B5 |
| Pool balance | $1,463.4MM | $1,450.0MM | $1,383.3MM | $1,560.5MM | $991.2MM | 424B5 |
| WA Lessee Credit Score | 781+20 | 786 | 758 | 764 | 747 | 424B5 |
| WA original term mo | 36.0−1.7 | 42.2 mo | 37.0 mo | 35.8 mo | 38.3 mo | 424B5 |
| WA Residual % MSRP | 52.5% | 44.3% | 52.5% | 49.2% | 57.4% | calc |
| ALG-marked residuals | 96.9% | 94.0% | 100.0% | 81.3% | 100.0% | calc |
| WA Securitization Value | $31,703 | $49,171 | $29,865 | $34,117 | $29,019 | calc |
| Top-3 model concentration | 37.4% | 22.0% | 51.8% | 52.2% | 34.1% | calc |
| Geo top-3 | MI 29.0% NY 16.1% FL 8.5% | CA 29.3% NY 13.8% FL 13.5% | FL 11.6% CA 11.6% TX 7.3% | MI 38.7% NY 11.6% CA 6.7% | FL 62.5% NC 15.7% GA 7.7% | 424B5 |
| Enhancement beneath the AAA term notes | ||||||
| Enhancement, initial | 18.80%+1.35pp | 11.75% | 17.90% | 20.15% | 17.00% | calc |
| Enhancement, target | 19.80% | 13.25% | — | 22.95% | 18.75% | calc |
| Subordinate notes | 8.5%+4.1pp | 0.0% | 4.3% | 12.9% | 4.7% | calc |
| Initial OC | 10.00% | 11.50% | 13.25% | 7.00% | 11.75% | 424B5 |
| Target OC | 11.00% | 13.00% | — | 9.80% | 13.50% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.40% | 0.25% | 0.50% | 424B5 |
| Pricing | ||||||
| AAA spread | +66 bps+3bps A-3 · 1.8y | +66 bps A-3 · 1.9y | +61 bps A-3 · 2.4y | +60 bps A-3 · 2.0y | +64 bps A-3 · 2.3y | FWP |
| Terms | ||||||
| Discount rate | 9.50% | 10.95% | 10.00% | 10.25% | 10.80% | 424B5 |
| Tranches | 7 | 5 | 6 | 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 | 103.07% |
|---|---|
| Realized G/L (% of scheduled) | 3.07% |
| Returned vehicles to date | 10,698 |
CRR = realized residual ÷ scheduled residual on returned vehicles. >100% = pool recovered above booked residuals.