Capital Auto Receivables Asset Trust 2005-SN1 8-K Other Events

CAPITAL AUTO RECEIVABLES ASSET TRUST 2005-SN1
MONTHLY SERVICING REPORT

DATES
Collection Period	May - 05
Determination Date	6/13/2005
Distribution / Payment Date	6/15/2005
SUMMARY
	Coupon Rate	Initial Balance		Beginning Balance		Ending Balance
Series 2005-SN1 Lease Assets (Total Pool Balance)			2,294,964,249.60		2,194,918,105.98		2,124,107,498.28
Aggregate ABS Value of the Series 2005-SN1 Lease Assets			2,000,005,298.81		1,929,912,105.67		1,874,467,290.19
COLT 2005-SN1 Secured Notes	5.370%		1,970,002,649.40		1,899,909,456.26		1,844,464,640.78
								Ending
	Coupon Rate	Initial Balance		Beginning Balance		Ending Balance		Pool Factor
CARAT Class A-1	3.327%		440,000,000.00		369,906,806.86		314,461,991.38	0.7146863
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		1,869,906,806.86		1,814,461,991.38	0.9352897
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		1,929,912,105.67		1,874,467,290.19	0.9372312
LIBOR 3.09	Principal	Interest		Principal per $1000		Interest per $1000
	Payment Due	Payment Due		Face Amount		Face Amount
Class A-1	55,444,815.48		1,025,566.62		126.0109443		2.3308332
Class A-2a	—		593,541.67		0.0000000		3.2083333
Class A-2b	—		869,108.33		0.0000000		2.6416667
Class A-2c	—		274,733.33		0.0000000		2.6416667
Class A-3a	—		546,666.67		0.0000000		3.4166667
Class A-3b	—		837,375.00		0.0000000		2.6583333
Class A-3c	—		95,700.00		0.0000000		2.6583333
Class A-4	—		596,700.00		0.0000000		2.7000000
Class B-1	—		40,250.00		0.0000000		4.0250000
Class B-2	—		224,000.00		0.0000000		3.2000000
Class C	—		253,166.67		0.0000000		3.6166667
Total	55,444,815.48		5,356,808.29		28.5798018		2.7612414
COLT 2005-SN1 Secured Notes	55,444,815.48		8,502,094.82		28.1445385		4.3157784

CAPITAL AUTO RECEIVABLES ASSET TRUST 2005-SN1
MONTHLY SERVICING REPORT

COLT
I. COLLECTIONS
Actual Lease Payments Received	38,834,916.43
Repurchased Contracts	903,228.48
Sale Proceeds — Early Terminations (Defaults)	638,950.00
Pull Ahead Payments — Actual	1,761,840.78
Sale Proceeds — Scheduled Terminations	28,669,987.36
Excess Wear and Excess Mileage Received	97,475.52
Other Recoveries Received	182,692.76
Payment Advance for Current Period	2,521,745.43
Residual Advance for Current Period	—
Pull Ahead Payment Advance	2,158,921.71
Prior Period Payment Ahead Applied to Current Period	601,523.92
COLT 2005-SN1 Reserve Account Draw	—
Total Collections	76,371,282.39
II. DISTRIBUTIONS
Total Collections	76,371,282.39
Less: Reimbursement of Payment Advance	2,925,200.52
Less: Reimbursement of Residual Advance	—
Less: Reimbursement of Pull Ahead Payment Advance	534,365.21
Less: Current Period Payment Ahead Received	1,032,947.78
Less: COLT Servicing Fee	1,608,260.09
Less: Secured Note Interest Distributable Amount	8,502,094.82
Less: Secured Note Principal Distributable Amount	55,444,815.48
Less: COLT 2005-SN1 Reserve Account Deposit	6,323,598.49
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	3,459,565.73
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	8,502,094.82
Secured Note Principal Distributable Amount	55,444,815.48
Excess from COLT Following a CARAT Indenture Event of Default	—
CARAT Reserve Account Draw	—
Total Collections	63,946,910.30
II. DISTRIBUTIONS
Total Collections	63,946,910.30
Plus: Net Amount Due From Swap Counterparty	—
Less: CARAT Servicing Fee	15,832.58
Less: Net Amount Due to Swap Counterparty	644,942.09
Less: Noteholders’ Interest Distributable Amount	5,356,808.29
Less: Swap Termination Payment	—
Less: Noteholders’ Principal Distributable Amount	55,444,815.48
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)	2,484,511.86
RECONCILIATION OF ADVANCES AND PAYMENT AHEAD ACCOUNT
Beginning Balance of Payment Advance	7,431,349.91
Less: Reimbursement of Outstanding Payment Advance	2,925,200.52
Plus: Current Period Payment Advances	2,521,745.43
Ending Balance of Payment Advance	7,027,894.82
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	939,357.22
Less: Reimbursement of Outstanding Pull Ahead Payment Advance	534,365.21
Plus: Current Period Pull Ahead Payment Advances	2,158,921.71
Ending Balance of Pull Ahead Payment Advance	2,563,913.72
Beginning Balance of Payment Ahead Account	1,679,691.56
Less: Prior Period Payment Ahead Applied to Current Period	601,523.92
Plus: Current Period Payment Ahead Received	1,032,947.78
Ending Balance of Payment Ahead Account	2,111,115.42

CAPITAL AUTO RECEIVABLES ASSET TRUST 2005-SN1
MONTHLY SERVICING REPORT

COLT 2005-SN1 RESERVE ACCOUNT
Initial Reserve Account Balance				125,000,331.18
Reserve Account — Required Amount				154,058,875.59
Beginning Reserve Account Balance				146,846,455.50
Plus: Excess Available				6,323,598.49
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				153,170,053.99
DELINQUENCIES
	# of Contracts		Amount
31-60 Days Delinquent		1,656		30,601,005.13
61-90 Days Delinquent		184		3,409,899.45
Over 90 Days Delinquent		48		817,278.37
Total		1,888		34,828,182.95

CAPITAL AUTO RECEIVABLES ASSET TRUST 2005-SN1
MONTHLY SERVICING REPORT

NET LOSSES ON EARLY TERM DEFAULTS

Aggregate ABS Value of Early Term Defaults					737,935.87
Less: Aggregate Sales Proceeds					638,950.00
Less: Excess Wear and Excess Mileage Received					—
Less: Other Recoveries					—
Current Period Net Losses on Early Term Defaults					98,985.87
Beginning Cumulative Net Losses on Early Term Defaults					22,254.54
Current Period Net Losses					98,985.87
Ending Cumulative Net Losses on Early Term Defaults					121,240.41
NET LOSSES/(GAINS) ON RETURNED VEHICLES SOLD BY GMAC
Aggregate ABS Value of Returned Vehicles Sold by GMAC					27,450,369.38
Add: Reimbursement of Outstanding Residual Advance					—
Less: Aggregate Sales Proceeds					28,669,987.36
Less: Pull Ahead Payments					1,761,840.78
Less: Excess Wear and Excess Mileage Received					97,475.52
Less: Other Recoveries					182,692.76
Current Period Net Losses/(Gains) on Returned Vehicles Sold by GMAC					(3,261,627.04	)
Beginning Cumulative Net Losses/(Gains) on Returned Vehicles Sold by GMAC					(2,290,128.56	)
Current Period Net Losses/(Gains)					(3,261,627.04	)
Ending Cumulative Net Losses/(Gains) on Returned Vehicles Sold by GMAC					(5,551,755.60	)
POOL STATISTICS
	Initial			Current
Number of Contracts		99,081			96,245
Discount Rate		8.500	%		8.500	%
Weighted Average Coupon		4.451	%		4.452	%
Weighted Average Original Term		39.16			39.20
Weighted Average Remaining Term		26.93			24.28
Number of Units Terminated during the Month
Scheduled Terminated					743
Pull Ahead					1,019
Early Terminations Not Pull Ahead Not Default					31
Early Terminations Default					30
					1,823

Note: In May there were 1,233 Units with Pull Ahead payment advanced and ABS Value has been reduced to the Base Residual Value.

Prepayment Rate

CAPITAL AUTO RECEIVABLES ASSET TRUST 2005-SN1
MONTHLY SERVICING REPORT

Month	Prepayment Rate
1		0.41
2		0.56
3		1.47