| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 167.2 | 12.0% | 18.80% | 0.31 | 3.83% | +14 I-curve | 2027-04-20 | A-1+ | F1+ |
| Class A-2-A | 300.0 | 21.6% | 18.80% | 1.07 | 4.12% | — | 2028-07-20 | AAA | AAA |
| Class A-2-B | 141.2 | 10.2% | 18.80% | 1.07 | floating | +39 SOFR | 2028-07-20 | AAA | AAA |
| Class A-3 | 441.2 | 31.8% | 18.80% | 1.80 | 4.30% | +44 I-curve | 2029-03-20 | AAA | AAA |
| Class A-4 | 82.0 | 5.9% | 18.80% | 2.22 | 4.36% | +46 I-curve | 2030-05-20 | AAA | AAA |
| Class B | 61.8 | 4.4% | 14.35% | 2.34 | 4.60% | +70 I-curve | 2030-05-20 | AA | AA |
| Cretained | 57.0 | 4.1% | 10.25% | 2.47 | — | — | — | 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 | J.P. Morgan Securities, TD Securities, BMO Capital Markets, Credit Agricole Securities, Lloyds Securities, Loop Capital Markets |
| GMALT 2026-2 | GMALT 2026-1 | GMALT 2025-3 | GMALT 2025-2 | GMALT 2025-1 | GMALT 2024-3 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2026-05-14 | 2026-02-12 | 2025-08-13 | 2025-05-29 | 2025-02-12 | 2024-10-02 | 424B5 |
| Pool balance | $1,389.4MM | $1,111.8MM | $1,105.5MM | $1,455.6MM | $1,964.9MM | $1,463.4MM | 424B5 |
| WA Lessee Credit Score | 780−1 | 781 | 781 | 780 | 781 | 781 | 424B5 |
| WA original term mo | 35.00.0 | 35.0 mo | 35.0 mo | 35.0 mo | 35.0 mo | 36.0 mo | 424B5 |
| WA Residual % MSRP | 53.1% | 53.1% | 52.2% | 51.8% | 52.5% | 52.5% | calc |
| ALG-marked residuals | 92.9% | 92.7% | 95.6% | 96.0% | 95.9% | 96.9% | calc |
| WA Securitization Value | $35,221 | $35,418 | $33,724 | $32,776 | $32,926 | $31,703 | calc |
| Top-3 model concentration | 37.4% | 36.2% | 34.7% | 35.0% | 37.9% | 37.4% | calc |
| Geo top-3 | MI 27.6% NY 13.2% FL 9.2% | 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% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 18.80%0.00pp | 18.80% | 18.80% | 18.80% | 18.80% | 18.80% | calc |
| Enhancement, target | 19.80% | 19.30% | 19.80% | 19.80% | 19.80% | 19.80% | calc |
| Subordinate notes | 8.6%0.0pp | 8.5% | 8.5% | 8.5% | 8.6% | 8.5% | calc |
| Initial OC | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 424B5 |
| Target OC | 11.00% | 10.50% | 11.00% | 11.00% | 11.00% | 11.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| Pricing | |||||||
| AAA spread | +44 bps−8bps A-3 · 1.8y | +35 bps 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 | FWP |
| Terms | |||||||
| Discount rate | 10.00% | 8.75% | 9.00% | 9.25% | 9.50% | 9.50% | 424B5 |
| Tranches | 7 | 6 | 7 | 7 | 7 | 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.
| GMALT 2026-2 | BMWLT 2026-1 | WOALT 2026-A | VWALT 2026-A | NALT 2026-A | FCALT 2026-A | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2026-05-14 | 2026-04-22 | 2026-03-25 | 2026-03-24 | 2026-02-26 | 2026-01-26 | 424B5 |
| Pool balance | $1,389.4MM | $1,727.1MM | $1,263.3MM | $1,994.2MM | $1,422.1MM | $1,560.5MM | 424B5 |
| WA Lessee Credit Score | 780+7 | 799 | 741 | 774 | 773 | 763 | 424B5 |
| WA original term mo | 35.0−1.4 | 36.0 mo | 37.7 mo | — | 36.0 mo | 36.8 mo | 424B5 |
| WA Residual % MSRP | 53.1% | 48.3% | 60.2% | 47.3% | 52.9% | 49.9% | calc |
| ALG-marked residuals | 92.9% | 100.0% | 100.0% | 97.4% | 99.8% | 86.8% | calc |
| WA Securitization Value | $35,221 | $56,395 | $29,985 | $33,479 | $30,043 | $35,735 | calc |
| Top-3 model concentration | 37.4% | 20.7% | 44.5% | 48.3% | 42.2% | 55.8% | calc |
| Geo top-3 | MI 27.6% NY 13.2% FL 9.2% | CA 20.8% FL 13.9% NY 10.1% | FL 64.9% NC 12.7% GA 8.7% | CA 19.6% FL 14.3% NY 11.8% | NY 16.7% NJ 15.5% FL 11.2% | MI 30.9% NY 10.2% CA 8.9% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 18.80%+0.55pp | 13.40% | 18.25% | 14.50% | 19.55% | 20.15% | calc |
| Enhancement, target | 19.80% | 15.90% | 21.00% | 18.00% | — | 22.15% | calc |
| Subordinate notes | 8.6%+1.5pp | 0.0% | 8.5% | 0.0% | 7.1% | 12.9% | calc |
| Initial OC | 10.00% | 13.15% | 9.50% | 14.25% | 12.10% | 7.00% | 424B5 |
| Target OC | 11.00% | 15.65% | 12.25% | 17.75% | — | 9.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.40% | 0.25% | 424B5 |
| Pricing | |||||||
| AAA spread | +44 bps0bps A-3 · 1.8y | +43 bps A-3 · 2.0y | +51 bps A-3 · 2.2y | +54 bps A-3 · 2.0y | +44 bps A-3 · 2.0y | +44 bps A-3 · 2.0y | FWP |
| Terms | |||||||
| Discount rate | 10.00% | 10.75% | 10.00% | 9.95% | 10.00% | 8.90% | 424B5 |
| Tranches | 7 | 5 | 7 | 5 | 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.
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
| Latest CRR | 65.72% |
|---|---|
| Realized G/L (% of scheduled) | -34.28% |
| Returned vehicles to date | 359 |
CRR = realized residual ÷ scheduled residual on returned vehicles. >100% = pool recovered above booked residuals.