Capital Auto Receivables Asset Trust 2005-SN1 10-K 2005 FY Annual report

Exhibit 99.1

CAPITAL AUTO RECEIVABLES ASSET TRUST 2005-SN1
Aggregate Annual Servicing Report

DATES
Collection Period	March 2005 - December 2005
Determination Date	Two LIBOR Business Days Prior to the closing date or distribution date.
Distribution / Payment Date	Fifteenth day of each calendar month, or if that day is not a business day, the next business day, beginning on May 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		1,648,429,888.76
Aggregate ABS Value of the Series 2005-SN1 Lease Assets					2,000,005,298.81		2,000,005,298.81		1,489,876,279.68
COLT 2005-SN1 Secured Notes		5.370	%		1,970,002,649.40		1,970,002,649.40		1,459,873,630.27
Discount Rate		8.500	%

								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		—	0.0000000
CARAT Class A-2a	3.850%		185,000,000.00		185,000,000.00		164,006,685.22	0.8865226
CARAT Class A-2b	One-Month LIBOR +.080%		329,000,000.00		329,000,000.00		291,665,942.89	0.8865226
CARAT Class A-2c	One-Month LIBOR + .080%		104,000,000.00		104,000,000.00		92,198,352.76	0.8865226
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		1,429,870,980.87	0.7370469
CARAT Certificates			30,002,649.40		30,002,649.40		30,002,649.40	1.0000000
COLT Overcollateralization			30,002,649.41		30,002,649.41		30,002,649.41	1.0000000
Total			2,000,005,298.81		2,000,005,298.81		1,489,876,279.68	0.7449362

March April LIBOR 3.06

May LIBOR 3.09

June LIBOR 3.22

July LIBOR 3.38813

August LIBOR 3.57125

September LIBOR 3.76813

October LIBOR 3.97

November LIBOR 4.12

December LIBOR 4.36938

	Principal		Interest		Principal per $1000	Interest per $1000
	Payment Due		Payment Due		Face Amount	Face Amount
Class A-1		440,000,000.00		4,825,523.39	1000.0000000		10.9670986
Class A-2a		20,993,314.78		5,068,822.00	113.4773772		27.3990378
Class A-2b		37,334,057.11		8,963,596.99	113.4773772		27.2449757
Class A-2c		11,801,647.24		2,833,477.46	113.4773773		27.2449756
Class A-3a		—		4,683,111.14	0.0000000		29.2694446
Class A-3b		—		8,662,679.20	0.0000000		27.5005689
Class A-3c		—		990,020.48	0.0000000		27.5005689
Class A-4		—		6,158,659.07	0.0000000		27.8672356
Class B-1		—		344,808.33	0.0000000		34.4808330
Class B-2		—		2,258,706.49	0.0000000		32.2672356
Class C		—		2,515,373.16	0.0000000		35.9339023
Total		510,129,019.13		47,304,777.71	262.9531026		24.3839060
COLT 2005-SN1 Secured Notes		510,129,019.13		66,495,865.39	258.9483924		33.7542010

COLT
I. COLLECTIONS
Actual Lease Payments Received	356,600,513.64
Repurchased Contracts	13,913,935.66
Sale Proceeds — Early Terminations (Defaults)	8,854,001.22
Pull Ahead Payments — Actual	5,163,322.09
Sale Proceeds — Scheduled Terminations	254,317,921.96
Excess Wear and Excess Mileage Received	1,245,084.25
Other Recoveries Received	2,879,819.04
Payment Advance for Current Period	25,999,891.41
Residual Advance for Current Period	45,535.30
Pull Ahead Payment Advance	7,179,563.15
Prior Period Payment Ahead Applied to Current Period	6,867,751.57
COLT 2005-SN1 Reserve Account Draw	2,473,548.28
Total Collections	685,540,887.57

II. DISTRIBUTIONS
Total Collections	685,540,887.57
Less: Reimbursement of Payment Advance	24,906,270.42
Less: Reimbursement of Residual Advance	—
Less: Reimbursement of Pull Ahead Payment Advance	6,837,485.97
Less: Current Period Payment Ahead Received	9,655,591.21
Less: COLT Servicing Fee	14,931,201.22
Less: Secured Note Interest Distributable Amount	66,495,865.39
Less: Secured Note Principal Distributable Amount	510,129,019.13
Less: COLT 2005-SN1 Reserve Account Deposit	28,647,660.11
Less: Excess to CARAT Following a CARAT Indenture Event of Default	—
Less: COLT Additional Servicing Fee	9,989,598.97
Excess to be Released to COLT, LLC	13,948,195.15
Memo: Excess Incl. Reimbursement of Advances Released to COLT, LLC	45,691,951.54

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CARRYOVER SHORTFALL
Secured Note Principal Carryover Shortfall	—

CARAT
I. COLLECTIONS
Secured Note Interest Distributable Amount	66,495,865.39
Secured Note Principal Distributable Amount	510,129,019.13
Excess from COLT Following a CARAT Indenture Event of Default	—
CARAT Reserve Account Draw	—
Total Collections	576,624,884.52

II. DISTRIBUTIONS
Total Collections	576,624,884.52
Plus: Net Amount Due From Swap Counterparty	1,011,869.14
Less: CARAT Servicing Fee	146,811.79
Less: Net Amount Due to Swap Counterparty	2,489,926.59
Less: Noteholders’ Interest Distributable Amount	47,304,777.71
Less: Swap Termination Payment	—
Less: Noteholders’ Principal Distributable Amount	510,129,019.13
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)	17,566,218.44

RECONCILIATION OF ADVANCES AND PAYMENT AHEAD ACCOUNT
Beginning Balance of Payment Advance	7,132,131.06
Less: Reimbursement of Outstanding Payment Advance	24,906,270.42
Plus: Current Period Payment Advances	25,999,891.41
Ending Balance of Payment Advance	8,225,752.05
Beginning Balance of Residual Advance	—
Less: Reimbursement of Outstanding Residual Advance	—
Plus: Current Period Residual Advances	45,535.30
Ending Balance of Residual Advance	45,535.30
Beginning Balance of Pull Ahead Payment Advance	—
Less: Reimbursement of Outstanding Pull Ahead Payment Advance	6,837,485.97
Plus: Current Period Pull Ahead Payment Advances	7,179,563.15
Ending Balance of Pull Ahead Payment Advance	342,077.18
Beginning Balance of Payment Ahead Account	71,283.28
Less: Prior Period Payment Ahead Applied to Current Period	6,867,751.57
Plus: Current Period Payment Ahead Received	9,655,591.21
Ending Balance of Payment Ahead Account	2,859,122.92

COLT 2005-SN1 RESERVE ACCOUNT
Initial Reserve Account Balance	125,000,331.18
Reserve Account Required Amount	151,174,443.01
Beginning Reserve Account Balance	125,000,331.18
Plus: Excess Available	28,647,660.11
Less: Reserve Account Draw Amount to Noteholders	—
Less: Reserve Account Draw Amount to Certificateholders	—
Less: Excess Reserve Account Funds to COLT, LLC	2,473,548.28
Ending COLT 2005-SN1 Reserve Account Balance	151,174,443.01

DELINQUENCIES*

	April
	# 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

	May
	# 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

	June
	# of Contracts		Amount
31-60 Days Delinquent		1,869		32,604,813.37
61-90 Days Delinquent		279		5,005,298.58
Over 90 Days Delinquent		101		1,921,740.49
Total		2,249		39,531,852.44

	July
	# of Contracts		Amount
31-60 Days Delinquent		1,926		34,436,869.67
61-90 Days Delinquent		344		5,886,005.55
Over 90 Days Delinquent		168		3,096,168.76
Total		2,438		43,419,070.98

2

	August
	# of Contracts		Amount
31-60 Days Delinquent		1,529		27,520,512.19
61-90 Days Delinquent		249		4,527,587.84
Over 90 Days Delinquent		184		3,298,409.43
Total		1,962		35,346,509.46

	September*
	# of Contracts		Amount
31-60 Days Delinquent		1,915		32,017,581.25
61-90 Days Delinquent		258		4,554,715.22
Over 90 Days Delinquent		240		4,391,294.40
Total		2,413		40,963,590.87

	October *
	# of Contracts		Amount
31-60 Days Delinquent		1,904		32,863,251.66
61-90 Days Delinquent		370		6,309,984.19
Over 90 Days Delinquent		237		4,444,752.44
Total		2,511		43,617,988.29

	November *
	# of Contracts		Amount
31-60 Days Delinquent		1,760		30,017,036.01
61-90 Days Delinquent		350		5,967,898.43
Over 90 Days Delinquent		299		5,377,778.25
Total		2,409		41,362,712.69

	December *
	# of Contracts		Amount
31-60 Days Delinquent		2,175		36,078,933.80
61-90 Days Delinquent		371		6,243,078.16
Over 90 Days Delinquent		295		5,411,395.59
Total		2,841		47,733,407.55

* Includes delinquencies on Hurricane accounts held in special handling. The delinquency detail on the Hurricane accounts only is as follows:

	September*
Hurricane Delinquent Receivables	# of Contracts		Amount
31-60 Days Delinquent		7		79,966.00
61-90 Days Delinquent		1		14,269.00
Over 90 Days Delinquent		—		—
Total		8		94,235.00

	October *
Hurricane Delinquent Receivables	# of Contracts		Amount
31-60 Days Delinquent		7		163,033.00
61-90 Days Delinquent		2		53,408.00
Over 90 Days Delinquent		—		—
Total		9		216,441.00

	November *
Hurricane Delinquent Receivables	# of Contracts		Amount
31-60 Days Delinquent		7		136,674.42
61-90 Days Delinquent		1		28,752.79
Over 90 Days Delinquent		1		23,881.38
Total		9		189,308.59

	December *
Hurricane Delinquent Receivables	# of Contracts		Amount
31-60 Days Delinquent		4		80,994.44
61-90 Days Delinquent		2		15,863.08
Over 90 Days Delinquent		4		103,720.32
Total		10		200,577.84

NET LOSSES ON EARLY TERM DEFAULTS
Aggregate ABS Value of Early Term Defaults	11,374,692.30
Less: Aggregate Sales Proceeds	8,854,001.22
Less: Excess Wear and Excess Mileage Received	278.34
Less: Other Recoveries	177,501.36
Current Period Net Losses on Early Term Defaults	2,342,911.38
Beginning Cumulative Net Losses on Early Term Defaults	—
Current Period Net Losses	2,342,911.38
Ending Cumulative Net Losses on Early Term Defaults	2,342,911.38

NET LOSSES/(GAINS) ON RETURNED VEHICLES SOLD BY GMAC
Aggregate ABS Value of Returned Vehicles Sold by GMAC	243,972,934.38
Add: Reimbursement of Outstanding Residual Advance	—
Less: Aggregate Sales Proceeds	254,317,921.96
Less: Pull Ahead Payments	5,163,322.09
Less: Excess Wear and Excess Mileage Received	1,244,805.91
Less: Other Recoveries	2,702,317.68
Current Period Net Losses/(Gains) on Returned Vehicles Sold by GMAC	(19,455,433.26	)
Beginning Cumulative Net Losses/(Gains) on Returned Vehicles Sold by GMAC	—
Current Period Net Losses/(Gains)	(19,455,433.26	)
Ending Cumulative Net Losses/(Gains) on Returned Vehicles Sold by GMAC	(19,455,433.26	)

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POOL STATISTICS

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	Initial			March/April			May			June			July
Number of Contracts		99,081			98,068			96,245			94,320			92,656
Discount Rate		8.500	%		8.500	%		8.500	%		8.500	%		8.500	%
Weighted Average Coupon		4.451	%		4.452	%		4.452	%		4.451	%		4.451	%
Weighted Average Original Term		39.16			39.15			39.20			39.25			39.30
Weighted Average Remaining Term		26.93			25.03			24.28			23.52			22.72

	August			September			October			November			December
Number of Contracts		90,637			88,509			86,168			83,610			81,435
Discount Rate		8.500	%		8.500	%		8.500	%		8.500	%		8.500	%
Weighted Average Coupon		4.452	%		4.453	%		4.452	%		4.453	%		4.454	%
Weighted Average Original Term		39.35			39.41			39.49			39.60			39.68
Weighted Average Remaining Term		21.97			21.24			20.55			19.91			19.19

Number of Units Terminated during the Month	March/April		May		June		July
Scheduled Terminated		846		743		1,341		1,345
Pull Ahead		48		1,019		473		211
Early Terminations Not Pull Ahead Not Default		113		31		59		59
Early Terminations Default		6		30		52		49
		1,013		1,823		1,925		1,664

Number of Units Terminated during the Month	August		September		October		November		December
Scheduled Terminated		1,169		1,631		1,886		1,834		1,853
Pull Ahead		686		357		273		546		96
Early Terminations Not Pull Ahead Not Default		70		78		77		92		71
Early Terminations Default		94		62		105		86		155
		2,019		2,128		2,341		2,558		2,175

Note: In April there were 500 Units with Pull Ahead payment advanced and ABS Value has been reduced to the Base Residual Value.
Note: In May there were 1,233 Units with Pull Ahead payment advanced and ABS Value has been reduced to the Base Residual Value.
Note: In June there were 482 Units with Pull Ahead payment advanced and ABS Value has been reduced to the Base Residual Value.
Note: In July there were 119 Units with Pull Ahead payment advanced and ABS Value has been reduced to the Base Residual Value.
Note: In August there were 984 Units with Pull Ahead payment advanced and ABS Value has been reduced to the Base Residual Value.
Note: In September there were 336 Units with Pull Ahead payment advanced and ABS Value has been reduced to the Base Residual Value.
Note: In October there were 658 Units with Pull Ahead payment advanced and ABS Value has been reduced to the Base Residual Value.
Note: In November there were 473 Units with Pull Ahead payment advanced and ABS Value has been reduced to the Base Residual Value.
Note: In December there were 301 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
3		1.47
4		1.44
5		1.25
6		0.73
7		0.38
8		0.40
9		0.38
10		0.00

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