| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 134.3 | 12.1% | 18.80% | 0.30 | 4.36% | +12 I-curve | 2026-08-20 | A-1+ | F1+ |
| Class A-2-A | 215.6 | 19.5% | 18.80% | 1.12 | 4.19% | +35 I-curve | 2027-10-20 | AAA | AAA |
| Class A-2-B | 135.0 | 12.2% | 18.80% | 1.12 | floating | +35 SOFR | 2027-10-20 | AAA | AAA |
| Class A-3 | 350.5 | 31.7% | 18.80% | 1.85 | 4.17% | +47 I-curve | 2028-08-21 | AAA | AAA |
| Class A-4 | 65.0 | 5.9% | 18.80% | 2.28 | 4.20% | +54 I-curve | 2029-08-20 | AAA | AAA |
| Class B | 49.2 | 4.4% | 14.35% | 2.41 | 4.41% | +75 I-curve | 2029-08-20 | AA | AA |
| Class C | 45.3 | 4.1% | 10.25% | 2.55 | 4.60% | +95 I-curve | 2030-01-22 | 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 | Barclays Capital, BofA Securities, Credit Agricole Securities, J.P. Morgan Securities, Goldman Sachs, Loop Capital Markets |
| GMALT 2025-3 | GMALT 2025-2 | GMALT 2025-1 | GMALT 2024-3 | GMALT 2024-2 | GMALT 2024-1 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2025-08-13 | 2025-05-29 | 2025-02-12 | 2024-10-02 | 2024-05-16 | 2024-02-15 | 424B5 |
| Pool balance | $1,105.5MM | $1,455.6MM | $1,964.9MM | $1,463.4MM | $1,521.8MM | $1,755.9MM | 424B5 |
| WA Lessee Credit Score | 7810 | 780 | 781 | 781 | 781 | 781 | 424B5 |
| WA original term mo | 35.00.0 | 35.0 mo | 35.0 mo | 36.0 mo | 35.0 mo | 36.0 mo | 424B5 |
| WA Residual % MSRP | 52.2% | 51.8% | 52.5% | 52.5% | 53.1% | 53.0% | calc |
| ALG-marked residuals | 95.6% | 96.0% | 95.9% | 96.9% | 96.0% | 95.6% | calc |
| WA Securitization Value | $33,724 | $32,776 | $32,926 | $31,703 | $32,378 | $31,900 | calc |
| Top-3 model concentration | 34.7% | 35.0% | 37.9% | 37.4% | 37.9% | 35.1% | calc |
| Geo top-3 | 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% | MI 31.2% NY 15.1% FL 7.2% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 18.80%0.00pp | 18.80% | 18.80% | 18.80% | 19.15% | 19.15% | calc |
| Enhancement, target | 19.80% | 19.80% | 19.80% | 19.80% | 21.65% | 21.65% | calc |
| Subordinate notes | 8.5%0.0pp | 8.5% | 8.6% | 8.5% | 10.9% | 10.9% | calc |
| Initial OC | 10.00% | 10.00% | 10.00% | 10.00% | 8.00% | 8.00% | 424B5 |
| Target OC | 11.00% | 11.00% | 11.00% | 11.00% | 10.50% | 10.50% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| Pricing | |||||||
| AAA spread | +47 bps−17bps 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 | +70 bps A-3 · 2.0y | FWP |
| Terms | |||||||
| Discount rate | 9.00% | 9.25% | 9.50% | 9.50% | 9.50% | 9.75% | 424B5 |
| Tranches | 7 | 7 | 7 | 7 | 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.
| GMALT 2025-3 | FCALT 2025-B | NALT 2025-B | VWALT 2025-A | BMWLT 2025-1 | MBALT 2025-A | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2025-08-13 | 2025-07-29 | 2025-07-29 | 2025-06-17 | 2025-06-10 | 2025-05-21 | 424B5 |
| Pool balance | $1,105.5MM | $1,560.5MM | $1,125.5MM | $1,457.7MM | $1,554.4MM | $1,460.0MM | 424B5 |
| WA Lessee Credit Score | 781+5 | 764 | 771 | 776 | 800 | 786 | 424B5 |
| WA original term mo | 35.0−1.0 | 35.8 mo | 36.0 mo | — | 36.0 mo | 40.4 mo | 424B5 |
| WA Residual % MSRP | 52.2% | 49.8% | 49.5% | 48.5% | 48.0% | 44.3% | calc |
| ALG-marked residuals | 95.6% | 85.2% | 100.0% | 99.3% | 100.0% | 94.0% | calc |
| WA Securitization Value | $33,724 | $35,218 | $28,070 | $31,797 | $56,797 | $53,940 | calc |
| Top-3 model concentration | 34.7% | 53.8% | 50.3% | 51.6% | 17.3% | 21.5% | calc |
| Geo top-3 | MI 27.3% NY 14.8% FL 9.7% | MI 33.4% NY 10.5% CA 8.4% | NY 16.7% NJ 15.5% FL 11.2% | CA 16.1% FL 15.9% NY 13.9% | CA 18.0% FL 15.0% NY 9.3% | CA 22.9% FL 16.3% NY 12.6% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 18.80%+4.30pp | 20.15% | 17.90% | 14.50% | 13.40% | 11.75% | calc |
| Enhancement, target | 19.80% | 22.15% | — | 17.50% | 15.90% | 13.25% | calc |
| Subordinate notes | 8.5%+8.5pp | 12.9% | 6.4% | 0.0% | 0.0% | 0.0% | calc |
| Initial OC | 10.00% | 7.00% | 11.15% | 14.25% | 13.15% | 11.50% | 424B5 |
| Target OC | 11.00% | 9.00% | — | 17.25% | 15.65% | 13.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.40% | 0.25% | 0.25% | 0.25% | 424B5 |
| Pricing | |||||||
| AAA spread | +47 bps−5bps A-3 · 1.9y | +45 bps A-3 · 2.0y | +52 bps A-3 · 2.2y | +55 bps A-3 · 2.1y | +51 bps A-3 · 2.0y | +62 bps A-3 · 2.4y | FWP |
| Terms | |||||||
| Discount rate | 9.00% | 9.30% | 10.00% | 10.00% | 10.85% | 10.80% | 424B5 |
| Tranches | 7 | 8 | 7 | 5 | 5 | 5 | 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 | 83.08% |
|---|---|
| Realized G/L (% of scheduled) | -16.92% |
| Returned vehicles to date | 2,820 |
CRR = realized residual ÷ scheduled residual on returned vehicles. >100% = pool recovered above booked residuals.