Exhibit 99.9
Aggregate Annual Servicing Report
Capital Auto Receivables Asset Trust 2006-2
December 14, 2006 (inception) through December 31, 2006
| | | | | |
Original Inputs |
| | | | | |
Total Pool Balance | | $ | 3,308,589,257.11 | |
| | | | | |
| Class A-1 Notes Balance | | $ | 750,000,000.00 | |
| Class A-1 Notes Rate | | | 5.340% | |
| | | | | |
| Class A-2a Notes Balance | | $ | 350,000,000.00 | |
| Class A-2a Notes Rate | | | 5.230% | |
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| Class A-2b Notes Balance | | $ | 698,000,000.00 | |
| Class A-2b Notes Rate | | One Month LIBOR + .03% | |
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| Class A-3a Notes Balance | | $ | 400,000,000.00 | |
| Class A-3a Notes Rate | | | 4.980% | |
| | | | | |
| Class A-3b Notes Balance | | $ | 617,690,000.00 | |
| Class A-3b Notes Rate | | One Month LIBOR + .06% | |
| | | | | |
| Class B Notes Balance | | $ | 102,224,000.00 | |
| Class B Notes Rate | | | 5.070% | |
| | | | | |
| Class C Notes Balance | | $ | 57,125,000.00 | |
| Class C Notes Rate | | | 5.310% | |
| | | | | |
| Class D Notes Balance | | $ | 15,033,000.00 | |
| Class D Notes Rate | | | 6.550% | |
| | | | | |
| Overcollateralization | | $ | 16,538,430.43 | |
| | | | | |
| Reserve Account Deposit | | $ | 15,033,052.15 | |
| | | | | |
| Discount Rate | | | 9.35% | |
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Part I. Collections |
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| Receipts During the Period | | $ | 267,636,251.44 | |
| Principal on Administrative Repurchases | | | 2,049,996.55 | |
| Principal on Warranty Repurchases | | | - | |
| Liquidation Proceeds (Recoveries) | | | 25,266.35 | |
| Schedule and Simple Interest Payments Advanced | | | 1,044,683.61 | |
| Schedule Principal Advanced | | | 7,905,877.98 | |
| | | | |
| Total Collections Available For the Period | | $ | 278,662,075.93 | |
| | | | |
| | | | | |
| Beginning Pool Aggregate Principal Balance | | $ | 3,308,589,257.11 | |
| Ending Pool Aggregate Principal Balance | | $ | 3,049,772,155.91 | |
| | | | | |
| Scheduled Principal Collection | | $ | 151,164,805.08 | |
| | | | | |
| Beginning Aggregate Discounted Principal Balance | | $ | 3,006,610,430.43 | |
| Ending Aggregate Discounted Principal Balance | | $ | 2,778,905,964.15 | |
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Part II. Distributions to Noteholders and Certificateholders |
| | | | | |
| Total Collections | | $ | 278,662,075.93 | |
| Plus: Reserve Account Draw | | | - | |
| Plus: Net Amount Due From Swap Counterparty | | | 575,538.65 | |
| Less: Total Servicing Fee | | | 1,654,294.63 | |
| Less: Net Amount Due to Swap Counterparty | | | - | |
| Less: Monthly Interest Due to Noteholders | | | 14,260,665.52 | |
| Less: Principal Due to Noteholders | | | 227,704,466.28 | |
| Less: Reserve Account Deposit | | | - | |
| Less: Accumulation Account Deposit | | | - | |
| | | | |
| Equals Reserve Fund Excess to be released to CARI | | $ | 35,618,188.15 | |
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Page 1
Aggregate Annual Servicing Report
Capital Auto Receivables Asset Trust 2006-2
December 14, 2006 (inception) through December 31, 2006
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| | | | | | | | Per $1000 of | |
| Class A-1 Notes Distributable Amount | | | | | | | Original Principal | |
| | | | | | | | | |
| Monthly Interest | | $ | 3,671,250.00 | | | | | 4.895000 | |
| Monthly Principal | | | 227,704,466.28 | | | | | 303.605955 | |
| | | | | | | | | |
| Distributable Amount | | $ | 231,375,716.28 | | | | | | |
| | | | | | | | | |
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| Class A-2a Notes Distributable Amount | | | | | | | | | |
| Monthly Interest | | $ | 1,576,263.89 | | | | | 4.503611 | |
| Monthly Principal | | | - | | | | | - | |
| | | | | | | | | |
| Distributable Amount | | $ | 1,576,263.89 | | | | | | |
| | | | | | | | | |
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| Class A-2b Notes Distributable Amount | | | | | | | | | |
| Monthly Interest | | $ | 3,442,303.33 | | | | | 4.931667 | |
| Monthly Principal | | | - | | | | | - | |
| | | | | | | | | |
| Distributable Amount | | $ | 3,442,303.33 | | | | | | |
| | | | | | | | | |
| | | | | | | | | | |
| Class A-3a Notes Distributable Amount | | | | | | | | | |
| Monthly Interest | | $ | 1,715,333.33 | | | | | 4.288333 | |
| Monthly Principal | | | - | | | | | - | |
| | | | | | | | | |
| Distributable Amount | | $ | 1,715,333.33 | | | | | | |
| | | | | | | | | |
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| Class A-3b Notes Distributable Amount | | | | | | | | | |
| Monthly Interest | | $ | 3,063,227.66 | | | | | 4.959167 | |
| Monthly Principal | | | - | | | | | - | |
| | | | | | | | | |
| Distributable Amount | | $ | 3,063,227.66 | | | | | | |
| | | | | | | | | |
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| Class B Notes Distributable Amount | | | | | | | | | |
| Monthly Interest | | $ | 446,292.95 | | | | | 4.365833 | |
| Monthly Principal | | | - | | | | | - | |
| | | | | | | | | |
| Distributable Amount | | $ | 446,292.95 | | | | | | |
| | | | | | | | | |
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| Class C Notes Distributable Amount | | | | | | | | | |
| Monthly Interest | | $ | 261,204.06 | | | | | 4.572500 | |
| Monthly Principal | | | - | | | | | - | |
| | | | | | | | | |
| Distributable Amount | | $ | 261,204.06 | | | | | | |
| | | | | | | | | |
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| Class D Notes Distributable Amount | | | | | | | | | |
| Monthly Interest | | $ | 84,790.30 | | | | | 5.640278 | |
| Monthly Principal | | | - | | | | | - | |
| | | | | | | | | |
| Distributable Amount | | $ | 84,790.30 | | | | | | |
| | | | | | | | | |
| | | | | | | | | | |
| Total Servicing Fee | | $ | 1,654,294.63 | | | | | 0.465145 | |
| | | | | | | | | |
| | | | | | | | | | | |
| LIBOR Rate effective for current Distribution Period | | | | | | | | | | |
| December | | | 5.35% | | | | | | | |
Page 2
Aggregate Annual Servicing Report
Capital Auto Receivables Asset Trust 2006-2
December 14, 2006 (inception) through December 31, 2006
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Part III. Payment Ahead and Advances |
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Payment Ahead Servicing Account | | | | | | | | |
| Beginning Payment Ahead Balance | | $ | 12,868,445.77 | | | | | |
| Less: Payments Applied | | | 7,579,060.04 | | | | | |
| Current Period Payments Ahead Received | | | 7,418,250.52 | | | | | |
| | | | | | | | |
| Ending Payment Ahead Balance | | $ | 12,707,636.25 | | | | | |
| | | | | | | | |
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Advance Account | | | | | | | | |
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | | $ | - | | | | | |
| Beginning Outstanding Unreimbursed Simple Interest Advances | | | - | | | | | |
| Scheduled Principal and Interest Advances | | | 8,691,337.53 | | | | | |
| Simple Interest Advances | | | 259,224.06 | | | | | |
| Reimbursement of Previous Scheduled Principal and Interest Advances | | | 1,694,101.62 | | | | | |
| Reimbursement of Previous Simple Interest Advances | | | - | | | | | |
| | | | | | | | | |
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | | $ | 6,997,235.91 | | | | | |
| Ending Outstanding Unreimbursed Simple Interest Advances | | $ | 259,224.06 | | | | | |
| | | | | | | | | |
| If the full scheduled payment due is not received by the end of month in which it was due the servicer will advance the shortfall for receivables that are not in default. The servicer will be reimbursed for any advances from subsequent payments or collections relating to that receivable. At the time the servicer determines that advances will not be recoverable from payments on that receivable the servicer is entitled to recoup its advance from collections of other receivables. |
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Part IV. Balances & Principal Factors |
| | | Beginning of Period | | End of Period |
| | | |
| | | | | | | | | |
| Total Pool Balance | | $ | 3,308,589,257.11 | | | $ | 3,049,772,155.91 | |
| Total Pool Factor | | | 1.0000000 | | | | 0.9217742 | |
| Class A-1 Notes Balance | | $ | 750,000,000.00 | | | $ | 522,295,533.72 | |
| Class A-1 Notes Principal Factor | | | 1.0000000 | | | | 0.6963940 | |
| Class A-2a Notes Balance | | $ | 350,000,000.00 | | | $ | 350,000,000.00 | |
| Class A-2a Notes Principal Factor | | | 1.0000000 | | | | 1.0000000 | |
| Class A-2b Notes Balance | | $ | 698,000,000.00 | | | $ | 698,000,000.00 | |
| Class A-2b Notes Principal Factor | | | 1.0000000 | | | | 1.0000000 | |
| Class A-3a Notes Balance | | $ | 400,000,000.00 | | | $ | 400,000,000.00 | |
| Class A-3a Notes Principal Factor | | | 1.0000000 | | | | 1.0000000 | |
| Class A-3b Notes Balance | | $ | 617,690,000.00 | | | $ | 617,690,000.00 | |
| Class A-3b Notes Principal Factor | | | 1.0000000 | | | | 1.0000000 | |
| Class B Notes Balance | | $ | 102,224,000.00 | | | $ | 102,224,000.00 | |
| Class B Notes Principal Factor | | | 1.0000000 | | | | 1.0000000 | |
| Class C Notes Balance | | $ | 57,125,000.00 | | | $ | 57,125,000.00 | |
| Class C Notes Principal Factor | | | 1.0000000 | | | | 1.0000000 | |
| Class D Notes Balance | | $ | 15,033,000.00 | | | $ | 15,033,000.00 | |
| Class D Notes Principal Factor | | | 1.0000000 | | | | 1.0000000 | |
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Pool Statistics | |
Inception | |
End of Period |
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| Number of Accounts | | | 236,900 | | | | 231,068 | |
| Weighted Average Coupon | | | 3.71% | | | | 3.71% | |
| Weighted Average Remaining Term | | | 42.07 | | | | 40.84 | |
| Weighted Average Age | | | 21.08 | | | | 23.33 | |
Page 3
Aggregate Annual Servicing Report
Capital Auto Receivables Asset Trust 2006-2
December 14, 2006 (inception) through December 31, 2006
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Part V. Reserve Account | |
| | | | | | | | | | | | Per $1000 of | |
| | | | | | | | | | | | Original Principal | |
| | | | | | | | | | | | | | |
Beginning Reserve Account Balance | | | | | | $ | 15,033,052.15 | | | | | | | |
| Draw for Servicing Fee | | | | | | | - | | | | | - | | |
| Draw for Class A-1a Notes Distributable Amount | | | | | | | - | | | | | - | | |
| Draw for Class A-1b 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 Notes Distributable Amount | | | | | | | - | | | | | - | | |
| Draw for Class C Notes Distributable Amount | | | | | | | - | | | | | - | | |
| Draw for Class D Notes Distributable Amount | | | | | | | - | | | | | - | | |
| Additions to Reserve Account (for Accumulation Account) | | | | | | | - | | | | | - | | |
| Additions to Reserve Account | | | | | | | - | | | | | - | | |
| Releases from Reserve Account | | | | | | | - | | | | | - | | |
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| Ending Reserve Account Balance | | | | | | $ | 15,033,052.15 | | | | | | | |
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| Preceding Collection Period | | | | | | | | | | | | | | |
| Specified Reserve Account Balance | | | | | | $ | 15,033,052.15 | | | | | | | |
| Reserve Account Balance | | | | | | $ | 15,033,052.15 | | | | | | | |
| | | | | | | | | | | | | | | |
| Current Collection Period | | | | | | | | | | | | | | |
| Specified Reserve Account Balance | | | | | | $ | 15,033,052.15 | | | | | | | |
| Reserve Account Balance | | | | | | $ | 15,033,052.15 | | | | | | | |
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Part VI. Carryover Shortfall |
| | | | | | | | | | | | Per $1000 of | |
| | | | | | | | | | | | Original Principal | |
| | | | | | | | | | | | |
| Noteholders’ Interest Carryover Shortfall | | | | | | $ | - | | | | | - | | |
| Noteholders’ Principal Carryover Shortfall | | | | | | $ | - | | | | | - | | |
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Part VII. Charge Off and Delinquency Rates |
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| | | | | | | Current Period | | | Current Period | |
Charge Off Rate | | Average Receivables | | Net Charge-Offs | | | Loss Rate |
| | | | | | | | |
| November 2006 | | $ | 3,244,569,163.06 | | | $ | 236.96 | | | | | 0.0001 | % | |
| December 2006 | | $ | 3,115,160,612.46 | | | $ | 44,315.15 | | | | | 0.0171 | % | |
| | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| | | Original | | Cumulative | | | Cumulative | |
| | | Receivable Balance | | Net Charge-Offs | | | Loss Rate |
| | | | | | | | |
Total Cumulative Charge offs | | $ | 3,308,589,257.11 | | | $ | 44,552.11 | | | | | 0.0013 | % | |
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Delinquency Rate | | Total Accounts | | Accounts Over 60 | | | % Delinquent | |
| | | | | | | | |
| November 2006 | | | 234,247 | | | | 14 | | | | | 0.0060 | % | |
| December 2006 | | | 231,068 | | | | 480 | | | | | 0.2077 | % | |
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| | | | | | | | | | | | | | | |
Delinquency Stratification (@12/31/06) | | Total Accounts | | Total $ | | | | | | |
| | | | | | | | | | | |
| 31 - 60 days | | | 5,301 | | | $ | 72,609,081.29 | | | | | | | |
| 61 - 90 days | | | 478 | | | $ | 6,918,391.01 | | | | | | | |
| > 90 days | | | 2 | | | $ | 17,275.33 | | | | | | | |
The information contained in this report is defined or determined in a manner consistent with the prospectus for Capital Auto Receivables Asset Trust 2006-2 related to delinquencies, charge-offs and uncollectible accounts.
Page 4
Aggregate Annual Servicing Report
Capital Auto Receivables Asset Trust 2006-2
December 14, 2006 (inception) through December 31, 2006
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Part VIII. Prepayment Rate |
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| | | | Month | | | Prepayment Rate | | | | |
| | | | 1 | | | | | 0.98 | | | | |
| | | | 2 | | | | | 1.12 | | | | |
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Part IX. Early Amortization Events / Portfolio Performance Conditions/ Trigger Events |
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| Early Amortization Events | | | | | | | | |
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| 1) | | Was the Reserve Account Balance less than the Specified | | | | | | | | |
| | | Reserve Account Balance for Two Consecutive Months? | | | | | | No |
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| 2) | | Has an Event of Default occurred? | | | | | | No |
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| 3) | | Has a Servicer Default occurred? | | | | | | No |
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This Servicer Certificate relates only to CARAT 2006-2. This Servicer Certificate should not be relied upon with respect to any other security. The information contained herein is only an indication of past performance and does not predict how CARAT 2006-2 will perform in the future.
Page 5
