Capital Auto Receivables Asset Trust 2004-1 10-K 2004 FY Annual report

Exhibit 99.1

Aggregate Annual Servicing Report
Capital Auto Receivables Asset Trust 2004-1
March 2, 2004 (inception) through December 31, 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	$	756,861,884.87
Principal on Repurchased Contracts		20,330,261.14
Scheduled and Simple Payments Advanced		10,953,375.59
Total Collections For the Period	$	788,145,521.60
Beginning Pool Aggregate Principal Balance	$	2,280,059,731.09
Ending Pool Aggregate Principal Balance	$	1,502,244,426.92
Scheduled Principal Collections	$	689,045,687.16
Beginning Aggregate Discounted Principal Balance	$	2,031,973,326.13
Ending Aggregate Discounted Principal Balance	$	1,363,918,111.39
Part II. Distributions to Noteholders and Certificateholders
Total Collections	$	788,145,521.60
Plus: Reserve Account Draw		10,020,828.22
Plus: Net Amount due from Swap Counterparty		225,803.99
Less: Total Servicing Fee		31,371,412.10
Less: Net Amount due to Swap Counterparty		85,344.06
Less: Monthly Interest Due to Noteholders & Certificateholders		28,040,702.45
Less: Principal Due to Noteholders		668,055,214.74
Less: Principal Due to Certificateholders		—
Less: Reserve Account Deposit		—
Equals Reserve Fund Excess to be released to CARI	$	70,839,480.46

Aggregate Annual Servicing Report
Capital Auto Receivables Asset Trust 2004-1
March 2, 2004 (inception) through December 31, 2004

			Per $1000 of
			Original Principal
Class A-1 Notes Distributable Amount
Monthly Interest	$	2,744,592.38		4.963097
Monthly Principal		553,000,000.00		1,000.000000
Distributable Amount	$	555,744,592.38
Class A-2 Notes Distributable Amount
Monthly Interest	$	5,706,794.22		12.014304
Monthly Principal		115,055,214.74		242.221505
Distributable Amount	$	120,762,008.96
Class A-3 Notes Distributable Amount
Monthly Interest	$	11,128,888.92		17.388889
Monthly Principal		—		—
Distributable Amount	$	11,128,888.92
Class A-4 Notes Distributable Amount
Monthly Interest	$	6,954,860.00		22.953333
Monthly Principal		—		—
Distributable Amount	$	6,954,860.00
Class B Certificates Distributable Amount
Monthly Interest	$	1,505,566.93		24.692222
Monthly Principal		—		—
Distributable Amount	$	1,505,566.93
Total Servicing Fee	$	31,371,412.10		13.759031
Part III. Payment Ahead and Advances
Payment Ahead Servicing Account
Beginning Payment Ahead Balance	$	3,106,681.31
Less: Payments Applied		8,882,251.52
Current Period Payments Ahead Received		7,918,777.23
Ending Payment Ahead Balance	$	2,143,207.02
Advance Account
Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances	$	2,017,441.33
Beginning Outstanding Unreimbursed Simple Interest Advances	$	—
Scheduled Principal and Interest Advances		10,918,105.95
Simple Interest Advances		35,269.64
Reimbursement of Previous Scheduled Principal and Interest Advances		10,430,080.10
Reimbursement of Previous Simple Interest Advances		25,219.34
Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances	$	2,505,467.18
Ending Outstanding Unreimbursed Simple Interest Advances	$	10,050.30

Aggregate Annual Servicing Report
Capital Auto Receivables Asset Trust 2004-1
March 2, 2004 (inception) through December 31, 2004

Part IV. Balances & Principal Factors

	Beginning of Period		End of Period
Total Pool Balance	$	2,280,059,731.09	$	1,502,244,426.92
Total Pool Factor		1.0000000		0.6588619
Class A-1 Notes Balance	$	553,000,000.00	$	—
Class A-1 Notes Principal Factor		1.0000000		—
Class A-2 Notes Balance	$	475,000,000.00	$	359,944,785.26
Class A-2 Notes Principal Factor		1.0000000		0.7577785
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	$	30,479,599.89
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		10,020,828.22		328.771646
Ending Reserve Account Balance	$	20,458,771.67
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
February		2,248,179,119.94		—		0.000000
March		2,177,279,837.71		42,584.99		0.023471
April		2,101,487,023.32		57,906.08		0.033066
May		2,027,115,655.48		123,540.83		0.073133
June		1,952,731,691.84		192,817.22		0.118491
July		1,879,075,628.87		197,838.72		0.126342
August		1,806,721,649.68		220,690.59		0.146580
September		1,736,279,796.97		267,770.98		0.185065
October		1,665,977,352.24		424,482.50		0.305754
November		1,597,793,089.99		243,362.26		0.182774
December		1,533,599,251.01		303,228.04		0.237268
Average Loss Rate						0.130177
Delinquency Rate	Total Accounts		Accounts over 60		% Delinquent
February		106,925		21		0.019640
March		105,849		74		0.069911
April		104,809		88		0.083962
May		103,632		93		0.089741
June		102,351		102		0.099657
July		100,893		117		0.115964
August		99,438		131		0.131740
September		97,395		161		0.165306
October		93,432		155		0.165896
November		89,347		137		0.153335
December		85,965		152		0.176816
Average Delinquency Rate						0.115634

Aggregate Annual Servicing Report
Capital Auto Receivables Asset Trust 2004-1
March 2, 2004 (inception) through December 31, 2004

Part VIII. Prepayment Rate

Month	Prepayment Rate
		%
1		0.35
2		1.03
3		0.87
4		0.99
5		0.97
6		1.03
7		0.95
8		0.95
9		1.08
10		0.97
11		0.98