| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 187.0 | 11.6% | 69.4% | 4.48% fxd | 0.26 | 2026-05-20 | A-1+ | F1+ |
| Class A-2-A | 250.0 | 15.5% | 54.0% | 4.55% fxd | 1.06 | 2027-07-20 | AAA | AAA |
| Class A-2-B | 217.0 | 13.4% | 40.6% | +50 bps SOFR | 1.06 | 2027-07-20 | AAA | AAA |
| Class A-3 | 466.7 | 28.9% | 11.7% | 4.58% fxd | 1.80 | 2028-05-22 | AAA | AAA |
| Class A-4 | 64.8 | 4.0% | 7.7% | 4.64% fxd | 2.21 | 2029-04-20 | AAA | AAA |
| Class B | 64.8 | 4.0% | 3.7% | 4.80% fxd | 2.34 | 2029-04-20 | AA | AA |
| Class C | 59.7 | 3.7% | 0.0% | 5.04% fxd | 2.45 | 2029-10-22 | 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, Deutsche Bank Securities, Goldman Sachs, BMO Capital Markets, BofA Securities, Mizuho Securities |
| GMALT 2025-2 | GMALT 2025-1 | GMALT 2024-3 | GMALT 2024-2 | GMALT 2024-1 | GMALT 2023-3 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-05-29 | 2025-02-12 | 2024-10-02 | 2024-05-16 | 2024-02-15 | 2023-08-16 |
| Pool balance | $1,617.3MM | $2,183.2MM | $1,626.0MM | $1,654.1MM | — | — |
| WA Lessee Credit Score | 780−1 | 781 | 781 | 781 | 781 | 780 |
| WA original term mo | 35.0−1.0 | 35.0 mo | 36.0 mo | 35.0 mo | 36.0 mo | 36.0 mo |
| WA Residual % MSRP | 51.8% | 52.5% | 52.5% | 53.1% | 62.0% | 61.1% |
| ALG-marked residuals | 96.0% | 95.9% | 96.9% | 96.0% | — | — |
| WA Securitization Value | $30,103 | $32,648 | $30,172 | $29,527 | $31,305 | $29,254 |
| Top-3 model concentration | 35.4% | 37.9% | 37.7% | 38.5% | — | — |
| Geo top-3 | 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% | MI 29.2% NY 16.4% FL 8.5% |
| Structure (at issuance) | ||||||
| AAA spread | +50 bps+5bps | +41 bps | +47 bps | +42 bps | +45 bps | +45 bps |
| AAA % of pool | 61.7%−1.5pp | 62.9% | 62.5% | 63.2% | 78.5% | 73.8% |
| Initial OC | 10.00% | 10.00% | 10.00% | 8.00% | — | — |
| Target OC | 11.00% | 11.00% | 11.00% | 10.50% | — | — |
| Subordination below AAA | 7.7%−0.0pp | 7.7% | 7.7% | 10.0% | 5.1% | 11.9% |
| Total Hard CE (Initial) | 19.76% | 19.12% | 19.12% | 19.37% | — | — |
| Total Hard CE (Target) | 20.76% | 20.12% | 20.12% | 21.87% | — | — |
| Discount rate | 9.25% | 9.50% | 9.50% | 9.50% | — | — |
| Tranches | 7 | 7 | 7 | 8 | 6 | 8 |
| GMALT 2025-2 | MBALT 2025-A | WOALT 2025-A | FCALT 2025-A | NALT 2025-A | BMWLT 2024-2 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-05-29 | 2025-05-21 | 2025-03-12 | 2025-01-27 | 2025-01-22 | 2024-10-07 |
| Pool balance | $1,617.3MM | $1,197.1MM | — | $1,560.5MM | $1,914.3MM | $1,468.9MM |
| WA Lessee Credit Score | 780+16 | 786 | 742 | 764 | 758 | 789 |
| WA original term mo | 35.0−2.0 | 40.4 mo | 37.4 mo | 35.1 mo | 37.0 mo | 36.0 mo |
| WA Residual % MSRP | 51.8% | 44.3% | 56.6% | 50.2% | 50.1% | 48.4% |
| ALG-marked residuals | 96.0% | 94.0% | — | 80.1% | 100.0% | 100.0% |
| WA Securitization Value | $30,103 | $45,969 | — | $34,499 | $27,756 | $51,501 |
| Top-3 model concentration | 35.4% | 21.9% | — | 53.6% | 50.5% | 20.7% |
| Geo top-3 | MI 29.3% NY 14.1% FL 7.6% | CA 22.9% FL 16.3% NY 12.6% | FL 63.0% NC 14.6% GA 7.9% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | +50 bps+8bps | +52 bps | +39 bps | +41 bps | — | +42 bps |
| AAA % of pool | 61.7%−10.1pp | 88.5% | 79.1% | 68.5% | 65.6% | 71.8% |
| Initial OC | 10.00% | 11.50% | — | 7.00% | 11.60% | 14.90% |
| Target OC | 11.00% | 13.00% | — | 9.80% | — | 17.40% |
| Subordination below AAA | 7.7%+2.5pp | 0.0% | 6.4% | 12.9% | 5.2% | 0.0% |
| Total Hard CE (Initial) | 19.76% | 11.75% | — | 22.67% | 18.62% | 15.15% |
| Total Hard CE (Target) | 20.76% | 13.25% | — | 25.47% | — | 17.65% |
| Discount rate | 9.25% | 10.80% | — | 9.40% | 10.00% | 11.20% |
| Tranches | 7 | 5 | 6 | 8 | 7 | 5 |
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
| Latest CRR | 86.13% |
|---|---|
| Realized G/L (% of scheduled) | -13.87% |
| Returned vehicles to date | 3,223 |
CRR = realized residual ÷ scheduled residual on returned vehicles. >100% = pool recovered above booked residuals.