Capital Auto Receivables Asset Trust 2005-SN1 Inactive
Filed: 26 May 05, 12:00am
Exhibit 20
CAPITAL AUTO RECEIVABLES ASSET TRUST 2005-SN1
MONTHLY SERVICING REPORT
| DATES | ||||||||||||||||
| Collection Period | Mar 05 - Apr 05 | |||||||||||||||
| Determination Date | 5/12/2005 | |||||||||||||||
| Distribution / Payment Date | 5/16/2005 | |||||||||||||||
SUMMARY | ||||||||||||||||
| Coupon Rate | Initial Balance | Beginning Balance | Ending Balance | |||||||||||||
| Series 2005-SN1 Lease Assets (Total Pool Balance) | 2,294,964,249.60 | 2,294,964,249.60 | 2,194,918,105.98 | |||||||||||||
| Aggregate ABS Value of the Series 2005-SN1 Lease Assets | 2,000,005,298.81 | 2,000,005,298.81 | 1,929,912,105.67 | |||||||||||||
| COLT 2005-SN1 Secured Notes | 5.370% | 1,970,002,649.40 | 1,970,002,649.40 | 1,899,909,456.26 | ||||||||||||
| Ending | ||||||||||||||||
| Coupon Rate | Initial Balance | Beginning Balance | Ending Balance | Pool Factor | ||||||||||||
| CARAT Class A-1 | 3.327% | 440,000,000.00 | 440,000,000.00 | 369,906,806.86 | 0.8406973 | |||||||||||
| CARAT Class A-2a | 3.850% | 185,000,000.00 | 185,000,000.00 | 185,000,000.00 | 1.0000000 | |||||||||||
| CARAT Class A-2b | One-Month LIBOR + .080% | 329,000,000.00 | 329,000,000.00 | 329,000,000.00 | 1.0000000 | |||||||||||
| CARAT Class A-2c | One-Month LIBOR + .080% | 104,000,000.00 | 104,000,000.00 | 104,000,000.00 | 1.0000000 | |||||||||||
| CARAT Class A-3a | 4.100% | 160,000,000.00 | 160,000,000.00 | 160,000,000.00 | 1.0000000 | |||||||||||
| CARAT Class A-3b | One-Month LIBOR + .100% | 315,000,000.00 | 315,000,000.00 | 315,000,000.00 | 1.0000000 | |||||||||||
| CARAT Class A-3c | One-Month LIBOR + .100% | 36,000,000.00 | 36,000,000.00 | 36,000,000.00 | 1.0000000 | |||||||||||
| CARAT Class A-4 | One-Month LIBOR + .150% | 221,000,000.00 | 221,000,000.00 | 221,000,000.00 | 1.0000000 | |||||||||||
| CARAT Class B-1 | 4.830% | 10,000,000.00 | 10,000,000.00 | 10,000,000.00 | 1.0000000 | |||||||||||
| CARAT Class B-2 | One-Month LIBOR + .750% | 70,000,000.00 | 70,000,000.00 | 70,000,000.00 | 1.0000000 | |||||||||||
| CARAT Class C | One-Month LIBOR + 1.250% | 70,000,000.00 | 70,000,000.00 | 70,000,000.00 | 1.0000000 | |||||||||||
| CARAT 2005-SN1 | 1,940,000,000.00 | 1,940,000,000.00 | 1,869,906,806.86 | 0.9638695 | ||||||||||||
| CARAT Certificates | 30,002,649.40 | 30,002,649.41 | 30,002,649.41 | 1.0000000 | ||||||||||||
| COLT Overcollateralization | 30,002,649.41 | 30,002,649.40 | 30,002,649.40 | 1.0000000 | ||||||||||||
Total | 2,000,005,298.81 | 2,000,005,298.81 | 1,929,912,105.67 | 0.9649535 | ||||||||||||
| LIBOR 3.06 | Principal | Interest | Principal per $1000 | Interest per $1000 | ||||||||||||
| Payment Due | Payment Due | Face Amount | Face Amount | |||||||||||||
| Class A-1 | 70,093,193.14 | 731,940.00 | 159.3027117 | 1.6635000 | ||||||||||||
| Class A-2a | — | 336,340.28 | 0.0000000 | 1.8180556 | ||||||||||||
| Class A-2b | — | 516,530.00 | 0.0000000 | 1.5700000 | ||||||||||||
| Class A-2c | — | 163,280.00 | 0.0000000 | 1.5700000 | ||||||||||||
| Class A-3a | — | 309,777.78 | 0.0000000 | 1.9361111 | ||||||||||||
| Class A-3b | — | 497,700.00 | 0.0000000 | 1.5800000 | ||||||||||||
| Class A-3c | — | 56,880.00 | 0.0000000 | 1.5800000 | ||||||||||||
| Class A-4 | — | 354,705.00 | 0.0000000 | 1.6050000 | ||||||||||||
| Class B-1 | — | 22,808.33 | 0.0000000 | 2.2808333 | ||||||||||||
| Class B-2 | — | 133,350.00 | 0.0000000 | 1.9050000 | ||||||||||||
| Class C | — | 150,850.00 | 0.0000000 | 2.1550000 | ||||||||||||
Total | 70,093,193.14 | 3,274,161.39 | 36.1305119 | 1.6877121 | ||||||||||||
COLT 2005-SN1 Secured Notes | 70,093,193.14 | 5,289,457.11 | 35.5802532 | 2.6850000 | ||||||||||||
| COLT | ||||||||||||||||||
| I. COLLECTIONS | ||||||||||||||||||
| Actual Lease Payments Received | 79,335,578.36 | |||||||||||||||||
| Repurchased Contracts | 3,122,400.42 | |||||||||||||||||
| Sale Proceeds — Early Terminations (Defaults) | 86,500.00 | |||||||||||||||||
| Pull Ahead Payments — Actual | 79,782.60 | |||||||||||||||||
| Sale Proceeds — Scheduled Terminations | 18,138,105.01 | |||||||||||||||||
| Excess Wear and Excess Mileage Received | 47,788.01 | |||||||||||||||||
| Other Recoveries Received | 121,794.54 | |||||||||||||||||
| Payment Advance for Current Period | 5,173,968.55 | |||||||||||||||||
| Residual Advance for Current Period | — | |||||||||||||||||
| Pull Ahead Payment Advance | 939,357.22 | |||||||||||||||||
| Prior Period Payment Ahead Applied to Current Period | 869,965.88 | |||||||||||||||||
| COLT 2005-SN1 Reserve Account Draw | — | |||||||||||||||||
Total Collections | 107,915,240.59 | |||||||||||||||||
II. DISTRIBUTIONS | ||||||||||||||||||
| Total Collections | 107,915,240.59 | |||||||||||||||||
| Less: Reimbursement of Payment Advance | 4,874,749.70 | |||||||||||||||||
| Less: Reimbursement of Residual Advance | — | |||||||||||||||||
| Less: Reimbursement of Pull Ahead Payment Advance | — | |||||||||||||||||
| Less: Current Period Payment Ahead Received | 2,478,374.16 | |||||||||||||||||
| Less: COLT Servicing Fee | 3,333,342.16 | |||||||||||||||||
| Less: Secured Note Interest Distributable Amount | 5,289,457.11 | |||||||||||||||||
| Less: Secured Note Principal Distributable Amount | 70,093,193.14 | |||||||||||||||||
| Less: COLT 2005-SN1 Reserve Account Deposit | 21,846,124.32 | |||||||||||||||||
| Less: Excess to CARAT Following a CARAT Indenture Event of Default | — | |||||||||||||||||
| Less: COLT Additional Servicing Fee | — | |||||||||||||||||
Excess to be Released to COLT, LLC | (0.00 | ) | ||||||||||||||||
| Memo: Excess Incl. Reimbursement of Advances Released to COLT, LLC | 4,874,749.70 | |||||||||||||||||
CARRYOVER SHORTFALL | ||||||||||||||||||
| Secured Note Principal Carryover Shortfall | — | |||||||||||||||||
CAPITAL AUTO RECEIVABLES ASSET TRUST 2005-SN1
MONTHLY SERVICING REPORT
| CARAT | ||||||||||||||||||
| I. COLLECTIONS | ||||||||||||||||||
| Secured Note Interest Distributable Amount | 5,289,457.11 | |||||||||||||||||
| Secured Note Principal Distributable Amount | 70,093,193.14 | |||||||||||||||||
| Excess from COLT Following a CARAT Indenture Event of Default | — | |||||||||||||||||
| CARAT Reserve Account Draw | — | |||||||||||||||||
Total Collections | 75,382,650.25 | |||||||||||||||||
II. DISTRIBUTIONS | ||||||||||||||||||
| Total Collections | 75,382,650.25 | |||||||||||||||||
| Plus: Net Amount Due From Swap Counterparty | — | |||||||||||||||||
| Less: CARAT Servicing Fee | 32,833.38 | |||||||||||||||||
| Less: Net Amount Due to Swap Counterparty | 482,672.50 | |||||||||||||||||
| Less: Noteholders’ Interest Distributable Amount | 3,274,161.39 | |||||||||||||||||
| Less: Swap Termination Payment | — | |||||||||||||||||
| Less: Noteholders’ Principal Distributable Amount | 70,093,193.14 | |||||||||||||||||
| Less: CARAT Reserve Account Deposit | — | |||||||||||||||||
| Less: Swap Termination Payment (to extent not paid above) | — | |||||||||||||||||
| Less: Certificateholders’ Principal Distributable Amount | — | |||||||||||||||||
Excess to the Reserve Account (to be released to CARI) | 1,499,789.84 | |||||||||||||||||
RECONCILIATION OF ADVANCES AND PAYMENT AHEAD ACCOUNT | ||||||||||||||||||
| Beginning Balance of Payment Advance | 7,132,131.06 | |||||||||||||||||
| Less: Reimbursement of Outstanding Payment Advance | 4,874,749.70 | |||||||||||||||||
| Plus: Current Period Payment Advances | 5,173,968.55 | |||||||||||||||||
| Ending Balance of Payment Advance | 7,431,349.91 | |||||||||||||||||
| Beginning Balance of Residual Advance | — | |||||||||||||||||
| Less: Reimbursement of Outstanding Residual Advance | — | |||||||||||||||||
| Plus: Current Period Residual Advances | — | |||||||||||||||||
| Ending Balance of Residual Advance | — | |||||||||||||||||
| Beginning Balance of Pull Ahead Payment Advance | — | |||||||||||||||||
| Less: Reimbursement of Outstanding Pull Ahead Payment Advance | — | |||||||||||||||||
| Plus: Current Period Pull Ahead Payment Advances | 939,357.22 | |||||||||||||||||
| Ending Balance of Pull Ahead Payment Advance | 939,357.22 | |||||||||||||||||
| Beginning Balance of Payment Ahead Account | 71,283.28 | |||||||||||||||||
| Less: Prior Period Payment Ahead Applied to Current Period | 869,965.88 | |||||||||||||||||
| Plus: Current Period Payment Ahead Received | 2,478,374.16 | |||||||||||||||||
| Ending Balance of Payment Ahead Account | 1,679,691.56 | |||||||||||||||||
COLT 2005-SN1 RESERVE ACCOUNT | ||||||||||||||||||
| Initial Reserve Account Balance | 125,000,331.18 | |||||||||||||||||
| Reserve Account — Required Amount | 154,474,711.71 | |||||||||||||||||
| Beginning Reserve Account Balance | 125,000,331.18 | |||||||||||||||||
| Plus: Excess Available | 21,846,124.32 | |||||||||||||||||
| Less: Reserve Account Draw Amount to Noteholders | — | |||||||||||||||||
| Less: Reserve Account Draw Amount to Certificateholders | — | |||||||||||||||||
| Less: Excess Reserve Account Funds to COLT, LLC | — | |||||||||||||||||
Ending COLT 2005-SN1 Reserve Account Balance | 146,846,455.50 | |||||||||||||||||
DELINQUENCIES | ||||||||||||||||||
| # of Contracts | Amount | |||||||||||||||||
| 31-60 Days Delinquent | 1,134 | 21,461,631.32 | ||||||||||||||||
| 61-90 Days Delinquent | 128 | 2,363,190.00 | ||||||||||||||||
| Over 90 Days Delinquent | 3 | 57,168.05 | ||||||||||||||||
| Total | 1,265 | 23,881,989.37 | ||||||||||||||||
CAPITAL AUTO RECEIVABLES ASSET TRUST 2005-SN1
MONTHLY SERVICING REPORT
NET LOSSES ON EARLY TERM DEFAULTS
| Aggregate ABS Value of Early Term Defaults | 108,754.54 | |||||||||||||||||
| Less: Aggregate Sales Proceeds | 86,500.00 | |||||||||||||||||
| Less: Excess Wear and Excess Mileage Received | — | |||||||||||||||||
| Less: Other Recoveries | — | |||||||||||||||||
Current Period Net Losses on Early Term Defaults | 22,254.54 | |||||||||||||||||
| Beginning Cumulative Net Losses on Early Term Defaults | — | |||||||||||||||||
| Current Period Net Losses | 22,254.54 | |||||||||||||||||
Ending Cumulative Net Losses on Early Term Defaults | 22,254.54 | |||||||||||||||||
NET LOSSES/(GAINS) ON RETURNED VEHICLES SOLD BY GMAC | ||||||||||||||||||
| Aggregate ABS Value of Returned Vehicles Sold by GMAC | 16,097,341.60 | |||||||||||||||||
| Add: Reimbursement of Outstanding Residual Advance | — | |||||||||||||||||
| Less: Aggregate Sales Proceeds | 18,138,105.01 | |||||||||||||||||
| Less: Pull Ahead Payments | 79,782.60 | |||||||||||||||||
| Less: Excess Wear and Excess Mileage Received | 47,788.01 | |||||||||||||||||
| Less: Other Recoveries | 121,794.54 | |||||||||||||||||
Current Period Net Losses/(Gains) on Returned Vehicles Sold by GMAC | (2,290,128.56 | ) | ||||||||||||||||
| Beginning Cumulative Net Losses/(Gains) on Returned Vehicles Sold by GMAC | — | |||||||||||||||||
| Current Period Net Losses/(Gains) | (2,290,128.56 | ) | ||||||||||||||||
Ending Cumulative Net Losses/(Gains) on Returned Vehicles Sold by GMAC | (2,290,128.56 | ) | ||||||||||||||||
POOL STATISTICS | ||||||||||||||||||
| Initial | Current | |||||||||||||||||
| Number of Contracts | 99,081 | 98,068 | ||||||||||||||||
| Discount Rate | 8.500 | % | 8.500 | % | ||||||||||||||
| Weighted Average Coupon | 4.451 | % | 4.452 | % | ||||||||||||||
| Weighted Average Original Term | 39.16 | 39.15 | ||||||||||||||||
| Weighted Average Remaining Term | 26.93 | 25.03 | ||||||||||||||||
| Number of Units Terminated during the Month | ||||||||||||||||||
| Scheduled Terminated | 846 | |||||||||||||||||
| Pull Ahead | 48 | |||||||||||||||||
| Early Terminations Not Pull Ahead Not Default | 113 | |||||||||||||||||
| Early Terminations Default | 6 | |||||||||||||||||
| 1,013 | ||||||||||||||||||
Note: In April there were 500 Units with Pull Ahead payment advanced and ABS Value has been reduced to the Base Residual Value.
Prepayment Rate
| Month | Prepayment Rate | |||||||||||||||||
| 1 | 0.41 | |||||||||||||||||
| 2 | 0.56 | |||||||||||||||||