| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 174.7 | 17.9% | 6.10% | 0.24 | 4.48% | +12 I-curve | 2026-07-16 | A-1+ | F1+ |
| Class A-2-A | 205.5 | 21.1% | 6.10% | 1.05 | 4.32% | +30 I-curve | 2028-06-16 | AAA | AAA |
| Class A-2-B | 122.0 | 12.5% | 6.10% | 1.05 | floating | +30 SOFR | 2028-06-16 | AAA | AAA |
| Class A-3 | 327.5 | 33.6% | 6.10% | 2.47 | 4.18% | +36 I-curve | 2030-08-16 | AAA | AAA |
| Class A-4 | 55.3 | 5.7% | 6.10% | 3.65 | 4.30% | +46 I-curve | 2031-09-16 | AAA | AAA |
| Class B | 15.0 | 1.5% | 4.50% | 3.67 | 4.53% | +70 I-curve | 2031-09-16 | AA | AA |
| Class C | 14.1 | 1.4% | 3.00% | 3.67 | 4.73% | +90 I-curve | 2033-01-18 | 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 | AFS SenSub Corp. |
| Indenture Trustee | — |
| Owner Trustee | Wilmington Trust Company |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | BofA Securities, Wells Fargo Securities, Credit Agricole Securities, Scotia Capital, SMBC Nikko Securities, Citigroup Global Markets |
| GMCAR 2025-3 | GMCAR 2025-2 | GMCAR 2025-1 | GMCAR 2024-4 | GMCAR 2024-3 | GMCAR 2024-2 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2025-07-16 | 2025-05-14 | 2025-01-15 | 2024-10-16 | 2024-07-10 | 2024-04-10 | 424B5 |
| Pool balance | $974.1MM | $984.2MM | $1,644.9MM | $1,346.6MM | $1,420.3MM | $1,654.1MM | 424B5 |
| WA Credit Score | 783+1 | 782 | 781 | 782 | 783 | 784 | 424B5 |
| WA APR | 6.58%−0.15pp | 6.75% | 7.03% | 6.73% | 6.52% | 6.23% | 424B5 |
| WA original term mo | 69.00.0 | 69.0 mo | 13.0 mo | 69.0 mo | 69.0 mo | 68.0 mo | 424B5 |
| % new vehicles | 87.9% | 87.9% | 87.9% | 87.7% | 87.7% | 87.7% | 424B5 |
| Geo top-3 | TX 13.7% FL 7.4% CA 6.4% | TX 12.2% FL 7.7% NY 6.2% | TX 13.9% FL 7.0% MI 5.6% | TX 15.3% FL 7.2% MI 5.3% | TX 14.5% FL 7.5% MI 5.2% | TX 14.4% FL 7.1% NY 5.3% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 6.10%0.00pp | 6.10% | 6.10% | 6.10% | 6.10% | 6.10% | calc |
| Enhancement, target | 6.10% | 6.10% | 6.10% | 6.60% | 6.60% | 6.60% | calc |
| Subordinate notes | 3.1%−1.2pp | 3.1% | 3.1% | 4.4% | 4.3% | 4.4% | calc |
| OC (initial) | 2.75% | 2.75% | 2.75% | 1.50% | 1.50% | 1.50% | 424B5 |
| OC target | 2.75% | 2.75% | 2.75% | 2.00% | 2.00% | 2.00% | 424B5 |
| OC floor | 2.75% | 2.75% | 2.75% | 2.00% | 2.00% | 2.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 3.50% | 2.86% | 3.13% | 3.04% | 4.40% | 5.27% | 424B5 |
| Pricing | |||||||
| AAA spread | +36 bps−17bps A-3 · 2.5y | +53 bps A-3 · 2.4y | +38 bps A-3 · 2.4y | +53 bps A-3 · 2.5y | +54 bps A-3 · 2.4y | +57 bps A-3 · 2.5y | FWP |
| Terms | |||||||
| Tranches | 7 | 7 | 7 | 8 | 8 | 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.
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
| GMCAR 2025-3 | HART 2025-B | NAROT 2025-A | WOART 2025-B | HAROT 2025-2 | TAOT 2025-B | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2025-07-16 | 2025-06-11 | 2025-05-27 | 2025-05-14 | 2025-05-08 | 2025-04-30 | 424B5 |
| Pool balance | $974.1MM | $2,188.2MM | $1,668.5MM | $1,281.8MM | $2,483.1MM | $1,988.8MM | 424B5 |
| WA Credit Score | 783+14 | 770 | 789 | 756 | 769 | 769 | 424B5 |
| WA APR | 6.58%+0.63pp | 5.95% | 4.46% | 6.49% | 4.89% | 6.05% | 424B5 |
| WA original term mo | 69.0+2.4 | 67.5 mo | — | 67.9 mo | 62.1 mo | 65.7 mo | 424B5 |
| % new vehicles | 87.9% | 97.5% | 6.9% | 96.4% | 86.1% | 88.0% | 424B5 |
| Geo top-3 | TX 13.7% FL 7.4% CA 6.4% | CA 14.3% TX 11.9% FL 9.3% | TX 14.8% FL 7.3% CA 6.7% | FL 47.7% GA 18.7% NC 15.4% | CA 16.9% TX 9.9% FL 6.2% | CA 20.9% TX 16.8% IL 4.0% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 6.10%+1.85pp | 7.55% | 4.25% | 4.75% | 2.75% | 2.75% | calc |
| Enhancement, target | 6.10% | 8.05% | 4.25% | 5.65% | — | 3.60% | calc |
| Subordinate notes | 3.1%+0.6pp | 4.8% | 1.5% | 4.5% | 0.0% | 2.5% | calc |
| OC (initial) | 2.75% | 2.50% | 2.50% | 0.00% | 2.50% | 0.00% | 424B5 |
| OC target | 2.75% | 3.00% | 2.50% | 0.90% | — | 0.85% | 424B5 |
| OC floor | 2.75% | 3.00% | 2.50% | 0.50% | — | 0.85% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 3.50% | 5.22% | 7.79% | 5.38% | n.a. | 4.46% | 424B5 |
| Pricing | |||||||
| AAA spread | +36 bps−21bps A-3 · 2.5y | +45 bps A-3 · 2.3y | +58 bps A-3 · 2.4y | +61 bps A-3 · 2.7y | +54 bps A-3 · 2.4y | +57 bps A-3 · 2.5y | FWP |
| Terms | |||||||
| Tranches | 7 | 7 | 6 | 7 | 5 | 6 | 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.
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
Left: per-series cumulative NET loss at matched seasoning 10-D (10-D servicer distribution reports). IQR band uses a fixed cohort of all peer series with ≥18 months of data (180 series across 9 issuers). Right: portfolio-level 60+ DQ rate aggregated across all active deals per issuer (calendar time, last 3 years), from ABS-EE loan-level data ABS-EE.
AmeriCredit Financial Services, Inc. — ticker GMCAR.
Peer tier: prime.
Open the performance page ↗ for
FICO sub-band and new/used stratification.