| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 139.9 | 12.6% | 18.80% | 0.34 | 3.82% | +14 I-curve | 2027-02-22 | A-1+ | F1+ |
| Class A-2 | 352.1 | 31.7% | 18.80% | 1.10 | 3.77% | +30 I-curve | 2028-04-20 | AAA | AAA |
| Class A-3 | 352.1 | 31.7% | 18.80% | 1.82 | 3.88% | +35 I-curve | 2029-01-22 | AAA | AAA |
| Class A-4 | 61.5 | 5.5% | 18.80% | 2.24 | 3.98% | +42 I-curve | 2030-01-22 | AAA | AAA |
| Class B | 49.5 | 4.4% | 14.35% | 2.38 | 4.12% | +55 I-curve | 2030-01-22 | AA | AA |
| Class Cretained | 45.6 | 4.1% | 10.25% | — | — | — | — | — | — |
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—also referred to herein as the “owner trustee”—is a Delaware |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | Barclays Capital, BNP Paribas Securities, Morgan Stanley, Wells Fargo Securities, Drexel Hamilton, TD Securities |
| GMALT 2026-1 | GMALT 2025-3 | GMALT 2025-2 | GMALT 2025-1 | GMALT 2024-3 | GMALT 2024-2 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2026-02-12 | 2025-08-13 | 2025-05-29 | 2025-02-12 | 2024-10-02 | 2024-05-16 | 424B5 |
| Pool balance | $1,111.8MM | $1,105.5MM | $1,455.6MM | $1,964.9MM | $1,463.4MM | $1,521.8MM | 424B5 |
| WA Lessee Credit Score | 7810 | 781 | 780 | 781 | 781 | 781 | 424B5 |
| WA original term mo | 35.00.0 | 35.0 mo | 35.0 mo | 35.0 mo | 36.0 mo | 35.0 mo | 424B5 |
| WA Residual % MSRP | 53.1% | 52.2% | 51.8% | 52.5% | 52.5% | 53.1% | calc |
| ALG-marked residuals | 92.7% | 95.6% | 96.0% | 95.9% | 96.9% | 96.0% | calc |
| WA Securitization Value | $35,418 | $33,724 | $32,776 | $32,926 | $31,703 | $32,378 | calc |
| Top-3 model concentration | 36.2% | 34.7% | 35.0% | 37.9% | 37.4% | 37.9% | calc |
| Geo top-3 | MI 27.5% NY 13.2% FL 9.1% | 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% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 18.80%0.00pp | 18.80% | 18.80% | 18.80% | 18.80% | 19.15% | calc |
| Enhancement, target | 19.30% | 19.80% | 19.80% | 19.80% | 19.80% | 21.65% | calc |
| Subordinate notes | 8.5%0.0pp | 8.5% | 8.5% | 8.6% | 8.5% | 10.9% | calc |
| Initial OC | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 8.00% | 424B5 |
| Target OC | 10.50% | 11.00% | 11.00% | 11.00% | 11.00% | 10.50% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| Pricing | |||||||
| AAA spread | +35 bps−27bps A-3 · 1.8y | +47 bps A-3 · 1.9y | +64 bps A-3 · 1.8y | +52 bps A-3 · 1.9y | +66 bps A-3 · 1.8y | +62 bps A-3 · 2.0y | FWP |
| Terms | |||||||
| Discount rate | 8.75% | 9.00% | 9.25% | 9.50% | 9.50% | 9.50% | 424B5 |
| Tranches | 6 | 7 | 7 | 7 | 7 | 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 2026-1 | FCALT 2026-A | MBALT 2026-A | BMWLT 2025-2 | VWALT 2025-B | NALT 2025-B | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2026-02-12 | 2026-01-26 | 2026-01-21 | 2025-10-15 | 2025-09-16 | 2025-07-29 | 424B5 |
| Pool balance | $1,111.8MM | $1,560.5MM | $1,500.0MM | $1,439.3MM | $1,749.3MM | $1,125.5MM | 424B5 |
| WA Lessee Credit Score | 781−4 | 763 | 786 | 798 | 789 | 771 | 424B5 |
| WA original term mo | 35.0−1.4 | 36.8 mo | 40.2 mo | 36.0 mo | — | 36.0 mo | 424B5 |
| WA Residual % MSRP | 53.1% | 49.9% | 43.9% | 48.3% | 48.5% | 49.5% | calc |
| ALG-marked residuals | 92.7% | 86.8% | 95.9% | 100.0% | 97.4% | 100.0% | calc |
| WA Securitization Value | $35,418 | $35,735 | $52,634 | $56,210 | $32,179 | $28,070 | calc |
| Top-3 model concentration | 36.2% | 55.8% | 20.1% | 14.5% | 49.6% | 50.3% | calc |
| Geo top-3 | MI 27.5% NY 13.2% FL 9.1% | MI 30.9% NY 10.2% CA 8.9% | CA 29.2% FL 14.0% NY 11.8% | CA 20.4% FL 16.7% TX 8.7% | CA 16.2% FL 15.5% NY 14.4% | NY 16.7% NJ 15.5% FL 11.2% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 18.80%+4.30pp | 20.15% | 13.25% | 13.40% | 14.50% | 17.90% | calc |
| Enhancement, target | 19.30% | 22.15% | 14.75% | 15.90% | 18.00% | — | calc |
| Subordinate notes | 8.5%+8.5pp | 12.9% | 0.0% | 0.0% | 0.0% | 6.4% | calc |
| Initial OC | 10.00% | 7.00% | 13.00% | 13.15% | 14.25% | 11.15% | 424B5 |
| Target OC | 10.50% | 9.00% | 14.50% | 15.65% | 17.75% | — | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.40% | 424B5 |
| Pricing | |||||||
| AAA spread | +35 bps−9bps A-3 · 1.8y | +44 bps A-3 · 2.0y | +43 bps A-3 · 2.2y | +41 bps A-3 · 1.8y | +51 bps A-3 · 2.0y | +52 bps A-3 · 2.2y | FWP |
| Terms | |||||||
| Discount rate | 8.75% | 8.90% | 10.40% | 10.15% | 10.00% | 10.00% | 424B5 |
| Tranches | 6 | 8 | 5 | 5 | 5 | 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.
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
| Latest CRR | 67.00% |
|---|---|
| Realized G/L (% of scheduled) | -33.00% |
| Returned vehicles to date | 766 |
CRR = realized residual ÷ scheduled residual on returned vehicles. >100% = pool recovered above booked residuals.