| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 226.9 | 10.4% | 70.6% | 4.41% fxd | 0.29 | 2026-02-20 | A-1+ | F1+ |
| Class A-2-A | 267.7 | 12.3% | 58.3% | 4.54% fxd | 1.16 | 2027-05-20 | AAA | AAA |
| Class A-2-B | 365.0 | 16.7% | 41.6% | +41 bps SOFR | 1.16 | 2027-05-20 | AAA | AAA |
| Class A-3 | 632.7 | 29.0% | 12.6% | 4.66% fxd | 1.89 | 2028-02-21 | AAA | AAA |
| Class A-4 | 108.1 | 5.0% | 7.7% | 4.70% fxd | 2.31 | 2029-02-20 | AAA | AAA |
| Class B | 87.5 | 4.0% | 3.7% | 4.89% fxd | 2.43 | 2029-02-20 | AA | AA |
| C | 80.5 | 3.7% | 0.0% | — | 2.56 | — | 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 | BNP Paribas Securities, TD Securities, Barclays Capital, Drexel Hamilton, RBC Capital Markets, SMBC Nikko Securities |
| GMALT 2025-1 | GMALT 2024-3 | GMALT 2024-2 | GMALT 2024-1 | GMALT 2023-3 | GMALT 2023-2 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-02-12 | 2024-10-02 | 2024-05-16 | 2024-02-15 | 2023-08-16 | 2023-05-17 |
| Pool balance | $2,183.2MM | $1,626.0MM | $1,654.1MM | — | — | — |
| WA Lessee Credit Score | 7810 | 781 | 781 | 781 | 780 | 780 |
| WA original term mo | 35.0−1.0 | 36.0 mo | 35.0 mo | 36.0 mo | 36.0 mo | 37.0 mo |
| WA Residual % MSRP | 52.5% | 52.5% | 53.1% | 62.0% | 61.1% | 62.0% |
| ALG-marked residuals | 95.9% | 96.9% | 96.0% | — | — | — |
| WA Securitization Value | $32,648 | $30,172 | $29,527 | $31,305 | $29,254 | — |
| Top-3 model concentration | 37.9% | 37.7% | 38.5% | — | — | — |
| Geo top-3 | 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% | MI 29.2% NY 16.4% FL 8.5% | MI 29.5% NY 15.8% FL 9.2% |
| Structure (at issuance) | ||||||
| AAA spread | +41 bps−4bps | +47 bps | +42 bps | +45 bps | +45 bps | +82 bps |
| AAA % of pool | 62.9%−10.4pp | 62.5% | 63.2% | 78.5% | 73.8% | 73.3% |
| Initial OC | 10.00% | 10.00% | 8.00% | — | — | — |
| Target OC | 11.00% | 11.00% | 10.50% | — | — | — |
| Subordination below AAA | 7.7%−2.3pp | 7.7% | 10.0% | 5.1% | 11.9% | 11.8% |
| Total Hard CE (Initial) | 19.12% | 19.12% | 19.37% | — | — | — |
| Total Hard CE (Target) | 20.12% | 20.12% | 21.87% | — | — | — |
| Discount rate | 9.50% | 9.50% | 9.50% | — | — | — |
| Tranches | 7 | 7 | 8 | 6 | 8 | 8 |
| GMALT 2025-1 | FCALT 2025-A | NALT 2025-A | BMWLT 2024-2 | MBALT 2024-B | WOALT 2024-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-02-12 | 2025-01-27 | 2025-01-22 | 2024-10-07 | 2024-09-25 | 2024-04-17 |
| Pool balance | $2,183.2MM | $1,560.5MM | $1,914.3MM | $1,468.9MM | $1,135.8MM | — |
| WA Lessee Credit Score | 781+17 | 764 | 758 | 789 | 786 | 747 |
| WA original term mo | 35.0−2.0 | 35.1 mo | 37.0 mo | 36.0 mo | 42.2 mo | 38.3 mo |
| WA Residual % MSRP | 52.5% | 50.2% | 50.1% | 48.4% | 44.3% | 54.5% |
| ALG-marked residuals | 95.9% | 80.1% | 100.0% | 100.0% | 94.0% | — |
| WA Securitization Value | $32,648 | $34,499 | $27,756 | $51,501 | $41,735 | $991,177,615 |
| Top-3 model concentration | 37.9% | 53.6% | 50.5% | 20.7% | 21.6% | — |
| Geo top-3 | MI 27.5% NY 15.0% FL 9.1% | MI 38.9% NY 10.8% CA 7.0% | FL 11.6% CA 11.6% TX 7.3% | CA 19.2% FL 13.6% NJ 9.2% | CA 29.3% NY 13.8% FL 13.5% | FL 62.5% NC 15.7% GA 7.7% |
| Structure (at issuance) | ||||||
| AAA spread | +41 bps−1bps | +41 bps | — | +42 bps | +66 bps | +43 bps |
| AAA % of pool | 62.9%−5.5pp | 68.5% | 65.6% | 71.8% | 42.1% | 81.8% |
| Initial OC | 10.00% | 7.00% | 11.60% | 14.90% | 11.50% | — |
| Target OC | 11.00% | 9.80% | — | 17.40% | 13.00% | — |
| Subordination below AAA | 7.7%+2.5pp | 12.9% | 5.2% | 0.0% | 0.0% | 5.4% |
| Total Hard CE (Initial) | 19.12% | 22.67% | 18.62% | 15.15% | 11.75% | — |
| Total Hard CE (Target) | 20.12% | 25.47% | — | 17.65% | 13.25% | — |
| Discount rate | 9.50% | 9.40% | 10.00% | 11.20% | 10.95% | — |
| Tranches | 7 | 8 | 7 | 5 | 5 | 6 |
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
| Latest CRR | 81.66% |
|---|---|
| Realized G/L (% of scheduled) | -18.34% |
| Returned vehicles to date | 5,564 |
CRR = realized residual ÷ scheduled residual on returned vehicles. >100% = pool recovered above booked residuals.