Capital Auto Receivables Asset Trust 2004-1 8K Other Events | SEC 24 Aug 04

EXHIBIT 20

Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
July 2004

Original Inputs


Total Pool Balance	$	2,280,059,731.09

Class A-1 Notes Balance	$	553,000,000.00
Class A-1 Notes Rate	One Month LIBOR+.06%

Class A-2 Notes Balance	$	475,000,000.00
Class A-2 Notes Rate		1.400	%

Class A-3 Notes Balance	$	640,000,000.00
Class A-3 Notes Rate		2.000	%

Class A-4 Notes Balance	$	303,000,000.00
Class A-4 Notes Rate		2.640	%

Class B Certificates Balance	$	60,973,326.13
Class B Certificates Rate		2.840	%


Reserve Account Deposit	$	30,479,599.89

Part I. Collections

Receipts During the Period	$	72,088,983.87
Principal on Repurchased Contracts		1,525,015.89
Schedule and Simple Payments Advanced		1,057,347.37

Total Collections For the Period	$	74,671,347.13


Beginning Pool Aggregate Principal Balance	$	1,915,944,952.72
Ending Pool Aggregate Principal Balance	$	1,842,206,305.02

Schedule Principal Collection	$	65,069,195.47

Beginning Aggregate Discounted Principal Balance	$	1,722,428,053.10
Ending Aggregate Discounted Principal Balance	$	1,658,880,989.09

Part II. Distributions to Noteholders and Certificateholders

Total Collections	$	74,671,347.13
Plus: Reserve Account Draw		953,205.96
Plus: Net Amount Due From Swap Counterparty		50,618.29
Less: Total Servicing Fee		3,193,241.58
Less: Net Amount Due to Swap Counterparty
Less: Monthly Interest Due to Noteholders & Certificateholders		2,743,358.93
Less: Principal Due to Noteholders		63,547,064.01
Less: Principal Due to Certificateholders		—
Less: Reserve Account Deposit		—

Equals Reserve Fund Excess to be released to CARI	$	6,191,506.86

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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
July 2004


			Per $1000 of
			Original Principal

Class A-1 Notes Distributable Amount
Monthly Interest	$	311,622.05		0.563512
Monthly Principal		63,547,064.01		114.913316

Distributable Amount	$	63,858,686.06

Class A-2 Notes Distributable Amount
Monthly Interest	$	554,166.67		1.166667
Monthly Principal		—		—

Distributable Amount	$	554,166.67

Class A-3 Notes Distributable Amount
Monthly Interest	$	1,066,666.67		1.666667
Monthly Principal		—		—

Distributable Amount	$	1,066,666.67

Class A-4 Notes Distributable Amount
Monthly Interest	$	666,600.00		2.200000
Monthly Principal		—		—

Distributable Amount	$	666,600.00

Class B Certificates Distributable Amount
Monthly Interest	$	144,303.54		2.366667
Monthly Principal		—		—

Distributable Amount	$	144,303.54

Total Servicing Fee	$	3,193,241.58		1.400508

Part III. Payment Ahead and Advances


Payment Ahead Servicing Account
Beginning Payment Ahead Balance	$	2,954,963.76
Less: Payments Applied		872,053.63
Current Period Payments Ahead Received		689,326.93

Ending Payment Ahead Balance	$	2,772,237.06

Advance Account
Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances	$	2,254,574.83
Beginning Outstanding Unreimbursed Simple Interest Advances	$	0.00
Scheduled Principal and Interest Advances		1,057,347.37
Simple Interest Advances		—
Reimbursement of Previous Scheduled Principal and Interest Advances		758,067.84
Reimbursement of Previous Simple Interest Advances		—

Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances	$	2,553,854.36
Ending Outstanding Unreimbursed Simple Interest Advances	$	0.00

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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
July 2004

Part IV. Balances & Principal Factors


		Beginning of Period		End of Period

Total Pool Balance		$	1,915,944,952.72	$	1,842,206,305.02
	Total Pool Factor		0.8403047		0.8079641
Class A-1 Notes Balance		$	243,454,726.97	$	179,907,662.96
	Class A-1 Notes Principal Factor		0.4402436		0.3253303
Class A-2 Notes Balance		$	475,000,000.00	$	475,000,000.00
	Class A-2 Notes Principal Factor		1.0000000		1.0000000
Class A-3 Notes Balance		$	640,000,000.00	$	640,000,000.00
	Class A-3 Notes Principal Factor		1.0000000		1.0000000
Class A-4 Notes Balance		$	303,000,000.00	$	303,000,000.00
	Class A-4 Notes Principal Factor		1.0000000		1.0000000
Class B Certificates Balance		$	60,973,326.13	$	60,973,326.13
	Class B Certificates Principal Factor		1.0000000		1.0000000

Part V. Reserve Account


			Per $1000 of
			Original Principal

Beginning Reserve Account Balance	$	25,836,420.80
Draw for Servicing Fee		—		—
Draw for Class A-1 Notes Distributable Amount		—		—
Draw for Class A-2 Notes Distributable Amount		—		—
Draw for Class A-3 Notes Distributable Amount		—		—
Draw for Class A-4 Notes Distributable Amount		—		—
Draw for Class B Certificates Distributable Amount		—		—
Additions to Reserve Account		—		—
Releases from Reserve Account		953,205.96		31.273572

Ending Reserve Account Balance	$	24,883,214.84

Reserve Account Floor	$	15,239,799.95

Part VI. Carryover Shortfall
			Per $1000 of
			Original Principal

Noteholders’ Interest Carryover Shortfall	$	—		—
Noteholders’ Principal Carryover Shortfall	$	—		—
Certificateholders’ Interest Carryover Shortfall	$	—		—
Certificateholders’ Principal Carryover Shortfall	$	—		—

Part VII. Charge Off and Delinquency Rates


Charge Off Rate	Average Receivables		Credit Repurchases		Loss Rate

July	$	1,879,075,628.87	$	197,838.72		0.126342
June	$	1,952,731,691.84	$	192,817.22		0.118491
May	$	2,027,115,655.48	$	123,540.83		0.073133
Three Month Average Loss Rate						0.105989

Delinquency Rate	Total Accounts		Accounts over 60		% Delinquent

July		100,893		117		0.115964
June		102,351		102		0.099657
May		103,632		93		0.089741
Three Month Average Delinquency Rate						0.101787

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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
July 2004

Part VIII. Prepayment Rate

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Capital Auto Receivables Asset Trust 2004-1 Inactive 8-KOther Events