| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | Moody's | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 287.2 | 17.3% | 6.10% | 0.22 | 5.53% | — | 2025-01-16 | P-1 | F1+ |
| Class A-2-A | 390.0 | 23.5% | 6.10% | 1.06 | 5.12% | — | 2027-02-16 | Aaa | AAA |
| Class A-2-B | 189.6 | 11.4% | 6.10% | 1.06 | floating | +40 SOFR | 2027-02-16 | Aaa | AAA |
| Class A-3 | 521.0 | 31.4% | 6.10% | 2.51 | 4.85% | — | 2028-12-18 | Aaa | AAA |
| Class A-4 | 87.5 | 5.3% | 6.10% | 3.64 | 4.86% | — | 2029-06-18 | Aaa | AAA |
| Class B | 25.1 | 1.5% | 4.50% | 3.66 | 5.16% | +40 SOFR | 2029-08-16 | Aa2 | AA |
| Cretained | 23.5 | 1.4% | 3.00% | — | — | — | — | — | — |
| Dretained | 19.6 | 1.2% | 1.75% | — | — | — | 2024-01-17 | — | — |
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 | Barclays Capital, Deutsche Bank Securities, RBC Capital Markets, Lloyds Securities, Loop Capital Markets, MUFG Securities Americas |
| GMCAR 2024-1 | GMCAR 2023-4 | GMCAR 2023-3 | GMCAR 2023-2 | GMCAR 2023-1 | GMCAR 2022-4 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-01-17 | 2023-10-11 | 2023-07-19 | 2023-04-12 | 2023-01-18 | 2022-10-12 | 424B5 |
| Pool balance | $1,657.3MM | $1,623.3MM | $1,682.7MM | $1,701.7MM | $1,719.2MM | $1,376.2MM | 424B5 |
| WA Credit Score | 783+1 | 783 | 782 | 783 | 781 | 781 | 424B5 |
| WA APR | 5.96%+1.27pp | 5.53% | 5.19% | 4.69% | 4.18% | 3.86% | 424B5 |
| WA original term mo | 69.00.0 | 70.0 mo | 70.0 mo | 69.0 mo | 69.0 mo | 69.0 mo | 424B5 |
| % new vehicles | — | — | — | — | — | — | 424B5 |
| Geo top-3 | TX 14.0% FL 7.3% CA 5.4% | TX 14.2% FL 7.4% CA 6.0% | TX 14.2% FL 7.9% CA 6.4% | TX 14.0% FL 8.3% CA 6.9% | TX 14.8% CA 7.7% NY 5.7% | TX 12.9% CA 7.9% FL 6.9% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 6.10%0.00pp | 6.10% | 6.10% | 6.10% | 6.10% | 6.15% | calc |
| Enhancement, target | 6.60% | 6.60% | 6.60% | 6.60% | 6.60% | 6.65% | calc |
| Subordinate notes | 4.4%0.0pp | 4.4% | 4.4% | 4.4% | 4.4% | 4.3% | calc |
| OC (initial) | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% | 424B5 |
| OC target | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 424B5 |
| OC floor | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 2.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.30% | 424B5 |
| YSOC | 5.45% | 6.45% | 6.89% | 7.93% | 8.86% | 7.75% | 424B5 |
| Pricing | |||||||
| AAA spread | — | +82 bps A-3 · 2.5y | — | +80 bps A-3 · 2.5y | +65 bps A-3 · 2.5y | +77 bps A-3 · 2.4y | FWP |
| Terms | |||||||
| Tranches | 8 | 8 | 8 | 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 2024-1 | FCAOT 2023-C | VALET 2023-2 | TAOT 2023-D | HART 2023-C | HAROT 2023-4 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-01-17 | 2023-11-21 | 2023-11-21 | 2023-11-14 | 2023-11-13 | 2023-11-08 | 424B5 |
| Pool balance | $1,657.3MM | $1,443.4MM | $1,418.8MM | $1,774.2MM | $1,822.5MM | $1,889.3MM | 424B5 |
| WA Credit Score | 783+15 | 753 | 770 | 767 | 768 | 768 | 424B5 |
| WA APR | 5.96%+0.86pp | 4.92% | 5.69% | 5.10% | 5.63% | 4.36% | 424B5 |
| WA original term mo | 69.0+4.7 | 63.6 mo | — | 65.0 mo | 65.6 mo | 62.3 mo | 424B5 |
| % new vehicles | — | 91.2% | 73.4% | 82.6% | 94.3% | 86.1% | 424B5 |
| Geo top-3 | TX 14.0% FL 7.3% CA 5.4% | TX 16.0% CA 9.6% FL 8.4% | TX 14.8% CA 13.6% FL 9.6% | CA 21.3% TX 15.3% PA 4.1% | TX 12.0% FL 11.7% CA 10.9% | CA 19.1% TX 9.7% OH 5.4% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 6.10%+2.85pp | 5.25% | 3.25% | 2.75% | 7.55% | 2.75% | calc |
| Enhancement, target | 6.60% | 7.25% | — | 3.60% | 8.05% | — | calc |
| Subordinate notes | 4.4%+1.9pp | 5.0% | 0.0% | 2.5% | 4.8% | 0.0% | calc |
| OC (initial) | 1.50% | 0.00% | 3.00% | 0.00% | 2.50% | 2.50% | 424B5 |
| OC target | 2.00% | 2.00% | — | 0.85% | 3.00% | — | 424B5 |
| OC floor | 2.00% | 2.00% | — | 0.85% | 3.00% | — | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 5.45% | 8.84% | 9.17% | 9.82% | 8.38% | n.a. | 424B5 |
| Pricing | |||||||
| AAA spread | — | +86 bps A-3 · 2.4y | +90 bps A-3 · 2.8y | +81 bps A-3 · 2.5y | +90 bps A-3 · 2.5y | +83 bps A-3 · 2.5y | FWP |
| Terms | |||||||
| Tranches | 8 | 7 | 5 | 6 | 7 | 4 | 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 (142 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.