Presale Report  ·  Data as of 2026-04-15

GM Financial Consumer Automobile Receivables Trust 2026-2 Auto Loan prime FINAL · CLOSED 2026-04-15

Notes
$1,269.8MM
Pool
$1,335.0MM
Reserve
0.25%
AAA Sub
3.0%
Sponsor: AmeriCredit Financial Services, Inc  ·  Servicer: AmeriCredit Financial Services, Inc.  ·  Trustee: Wilmington Trust, National Association

Capital Structure

ClassSize ($MM)% of PoolSub %CPN / SpreadWALLegal FinalMoody'sFitch
Class A-1218.316.4%78.8%+14 bps0.252027-04-01P-1F1+
Class A-2-A375.428.1%50.6%+40 bps1.112029-05-01AaaAAA
Class A-2-B100.07.5%43.2%+40 bps SOFR1.112029-05-01AaaAAA
Class A-3475.435.6%7.5%+39 bps2.682031-08-01AaaAAA
Class A-460.24.5%3.0%+41 bps3.842032-02-01AaaAAA
Class B20.91.6%1.5%+63 bps3.842032-04-01Aa2AA
Class C19.61.5%0.0%+83 bps3.842033-11-01A2A

Transaction Parties

SponsorAmeriCredit Financial Services, Inc
ServicerAmeriCredit Financial Services, Inc.
Depositor / TransferorAFS SenSub Corp
Indenture Trustee
Owner TrusteeWilmington Trust, National Association
Asset Rep. ReviewerClayton Fixed Income Services LLC
UnderwritersBMO Capital Markets, BofA Securities, J.P. Morgan Securities, Lloyds Securities, BNP Paribas Securities, Citigroup Global Markets

Issuer Track Record

GMCAR 2026-2GMCAR 2026-1GMCAR 2025-4GMCAR 2025-3GMCAR 2025-2GMCAR 2025-1
Collateral (pool at cut-off)
Closing date2026-04-152026-01-142025-11-052025-07-162025-05-142025-01-15
Pool balance$1,335.0MM$1,317.6MM$951.1MM$974.1MM$984.2MM$1,644.9MM
WA Credit Score777−4779781783782781
WA APR6.11%+0.25pp5.97%5.86%5.70%5.82%6.08%
WA original term mo70.0+1.070.0 mo13.0 mo69.0 mo69.0 mo13.0 mo
% new vehicles80.8%80.8%87.9%87.9%87.9%87.9%
Reserve %0.25%0.25%0.25%0.25%0.24%0.24%
Geo top-3TX 14.2%
FL 7.1%
CA 6.7%
TX 14.6%
FL 7.1%
CA 6.3%
TX 14.1%
FL 7.1%
CA 7.0%
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%
Structure (at issuance)
AAA spread+40 bps+8bps+32 bps+32 bps+30 bps+45 bps+33 bps
AAA % of pool75.7%+2.3pp75.6%75.6%72.9%73.0%73.4%
Subordination below AAA3.0%+0.0pp3.0%3.0%3.0%3.0%3.0%
OC (initial)2.75%2.75%2.75%2.75%2.75%2.75%
OC target2.75%2.75%2.75%2.75%2.75%2.75%
OC floor2.75%2.75%2.75%2.75%2.75%2.75%
YSOC2.19%2.44%2.68%3.50%2.86%3.13%
Tranches777777

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.

Peer Set

GMCAR 2026-2FCAOT 2026-AHART 2026-AHAROT 2026-1WOART 2026-ATAOT 2026-A
Collateral (pool at cut-off)
Closing date2026-04-152026-03-242026-02-182026-02-182026-02-182026-01-21
Pool balance$1,335.0MM$1,489.0MM$2,392.4MM$2,483.1MM$1,312.6MM$1,995.4MM
WA Credit Score777+7754775770758771
WA APR6.11%+0.73pp4.84%5.38%5.00%5.87%5.68%
WA original term mo70.0+4.165.8 mo67.2 mo61.6 mo68.4 mo65.9 mo
% new vehicles80.8%93.8%97.5%86.5%98.0%88.0%
Reserve %0.25%0.18%0.25%0.25%0.24%0.25%
Geo top-3TX 14.2%
FL 7.1%
CA 6.7%
TX 16.5%
FL 8.6%
CA 8.5%
TX 13.2%
FL 10.1%
CA 9.1%
CA 16.0%
TX 9.5%
NY 6.7%
FL 44.5%
GA 18.6%
NC 16.2%
CA 23.8%
TX 16.7%
IL 3.8%
Structure (at issuance)
AAA spread+40 bps+6bps+43 bps+34 bps+34 bps+31 bps+33 bps
AAA % of pool75.7%+5.0pp70.7%69.0%73.1%69.7%73.6%
Subordination below AAA3.0%−1.2pp4.8%4.5%0.0%4.2%2.4%
OC (initial)2.75%2.00%3.00%0.85%
OC target2.75%2.00%3.00%0.90%0.85%
OC floor2.75%2.00%3.00%0.50%0.85%
YSOC2.19%4.56%5.70%4.09%5.47%4.78%
Tranches777576

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.

Historical Performance Context

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 (197 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.

CNL by seasoning — GMCAR vs. prime peers0.2%0.4%0.6%0.9%M0M12M24M36M48Seasoning (months from cut-off)CNLGMCAR 2026-1GMCAR 2025-4GMCAR 2025-3GMCAR 2025-2prime peers medianPeer IQR (fixed cohort, n=131)
Portfolio 60+ DQ — GMCAR vs. peers (calendar time)0.12%0.24%0.37%0.49%2023-042023-122024-092025-062026-03Calendar date60+ DQ rateGMCARBMWOTFCAOTHAROTHART

AmeriCredit Financial Services, Inc — ticker GMCAR. Peer tier: prime.
Open in Explorer ↗ for FICO sub-band and new/used stratification.