| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 167.2 | 10.8% | 70.2% | 3.83% fxd | 0.31 | 2027-04-20 | A-1+ | F1+ |
| Class A-2-A | 300.0 | 19.4% | 50.7% | 4.12% fxd | 1.07 | 2028-07-20 | AAA | AAA |
| Class A-2-B | 141.2 | 9.1% | 41.6% | +39 bps SOFR | 1.07 | 2028-07-20 | AAA | AAA |
| Class A-3 | 441.2 | 28.6% | 13.0% | 4.30% fxd | 1.80 | 2029-03-20 | AAA | AAA |
| Class A-4 | 82.0 | 5.3% | 7.7% | 4.36% fxd | 2.22 | 2030-05-20 | AAA | AAA |
| Class B | 61.8 | 4.0% | 3.7% | 4.60% fxd | 2.34 | 2030-05-20 | AA | AA |
| C | 57.0 | 3.7% | 0.0% | — | 2.47 | — | A | A |
| Sponsor | GM Financial |
|---|---|
| Servicer | GM Financial |
| 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 2024-3 | GMALT 2025-2 | GMALT 2025-1 | GMALT 2024-3 | |
|---|---|---|---|---|---|---|
| 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 |
| Pool balance | $1,543.7MM | $1,235.3MM | $1,228.4MM | $1,617.3MM | $2,183.2MM | $1,626.0MM |
| WA Lessee Credit Score | 780−1 | 781 | 781 | 780 | 781 | 781 |
| WA original term mo | 35.00.0 | 35.0 mo | 35.0 mo | 35.0 mo | 35.0 mo | 36.0 mo |
| WA Residual % MSRP | 53.1% | 64.7% | 52.5% | 51.8% | 52.5% | 52.5% |
| ALG-marked residuals | 92.9% | 92.7% | 96.9% | 96.0% | 95.9% | 96.9% |
| WA Securitization Value | $35,221 | $37,340 | $30,172 | $30,103 | $32,648 | $30,172 |
| Top-3 model concentration | 37.4% | 36.2% | 37.7% | 35.4% | 37.9% | 37.7% |
| 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% |
| Structure (at issuance) | ||||||
| AAA spread | +39 bps−5bps | — | +35 bps | +50 bps | +41 bps | +47 bps |
| AAA % of pool | 62.5%+0.1pp | 62.0% | 62.4% | 61.7% | 62.9% | 62.5% |
| Initial OC | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% |
| Target OC | 11.00% | 10.50% | 11.00% | 11.00% | 11.00% | 11.00% |
| Subordination below AAA | 7.7%+0.0pp | 7.7% | 7.7% | 7.7% | 7.7% | 7.7% |
| Total Hard CE (Initial) | 18.94% | 19.12% | 19.75% | 19.76% | 19.12% | 19.12% |
| Total Hard CE (Target) | 19.94% | 19.62% | 20.75% | 20.76% | 20.12% | 20.12% |
| Discount rate | 10.00% | 8.75% | 9.00% | 9.25% | 9.50% | 9.50% |
| Tranches | 7 | 6 | 7 | 7 | 7 | 7 |
| GMALT 2026-2 | BMWLT 2026-1 | WOALT 2026-A | VWALT 2026-A | NALT 2026-A | FCALT 2026-A | |
|---|---|---|---|---|---|---|
| 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 |
| Pool balance | $1,543.7MM | $1,727.1MM | — | $1,994.2MM | $1,299.5MM | $2,068.3MM |
| WA Lessee Credit Score | 780+17 | 792 | 741 | 774 | 759 | 763 |
| WA original term mo | 35.0−1.4 | 36.0 mo | 37.7 mo | — | 36.0 mo | 36.8 mo |
| WA Residual % MSRP | 53.1% | 48.3% | 58.4% | 47.3% | 52.9% | 63.7% |
| ALG-marked residuals | 92.9% | 100.0% | — | 97.4% | 99.8% | 86.8% |
| WA Securitization Value | $35,221 | $56,395 | — | $33,479 | $30,043 | $993,604,775 |
| Top-3 model concentration | 37.4% | 20.7% | — | 48.3% | 42.2% | 55.8% |
| 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% |
| Structure (at issuance) | ||||||
| AAA spread | +39 bps−4bps | +37 bps | +43 bps | +47 bps | +45 bps | +34 bps |
| AAA % of pool | 62.5%−9.9pp | 72.4% | 78.1% | 72.4% | 79.9% | 52.7% |
| Initial OC | 10.00% | 13.15% | — | 14.25% | 12.10% | 7.00% |
| Target OC | 11.00% | 15.65% | — | 17.75% | — | 9.00% |
| Subordination below AAA | 7.7%−0.0pp | 0.0% | 9.4% | 0.0% | 7.7% | 9.7% |
| Total Hard CE (Initial) | 18.94% | 13.40% | — | 14.50% | 20.52% | 22.67% |
| Total Hard CE (Target) | 19.94% | 15.90% | — | 18.00% | — | 24.67% |
| Discount rate | 10.00% | 10.75% | — | 9.95% | 10.00% | 8.90% |
| Tranches | 7 | 5 | 7 | 5 | 7 | 8 |
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
| Latest CRR | 32.10% |
|---|---|
| Realized G/L (% of scheduled) | -67.90% |
| Returned vehicles to date | 26 |
CRR = realized residual ÷ scheduled residual on returned vehicles. >100% = pool recovered above booked residuals.