EXHIBIT 20.1
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
April 2003
Original Inputs
| Total Pool Balance | $ | 3,300,048,387.48 | ||
| Class A-1a Notes Balance | $ | 390,000,000.00 | ||
| Class A-1a Notes Rate | 1.850 | % | ||
| Class A-1b Notes Balance | $ | 786,000,000.00 | ||
| Class A-1b Notes Rate | One Month LIBOR+.05% | |||
| Class A-2a Notes Balance | $ | 242,000,000.00 | ||
| Class A-2a Notes Rate | 2.270 | % | ||
| Class A-2b Notes Balance | $ | 350,000,000.00 | ||
| Class A-2b Notes Rate | One Month LIBOR+.06% | |||
| Class A-3a Notes Balance | $ | 400,000,000.00 | ||
| Class A-3a Notes Rate | 2.750 | % | ||
| Class A-3b Notes Balance | $ | 528,000,000.00 | ||
| Class A-3b Notes Rate | One Month LIBOR+.09% | |||
| Class A-4a Notes Balance | $ | 172,600,000.00 | ||
| Class A-4a Notes Rate | 3.100 | % | ||
| Class A-4b Notes Balance | $ | 150,000,000.00 | ||
| Class A-4b Notes Rate | One Month LIBOR+.12% | |||
| Class B Certificates Balance | $ | 93,444,888.51 | ||
| Class B Certificates Rate | One Month LIBOR+.47% | |||
| Reserve Account Deposit | $ | 46,680,673.33 | ||
Part I. Collections | ||||
| Receipts During the Period | $ | 132,736,363.92 | ||
| Principal on Repurchased Contracts | 6,067,820.29 | |||
| Schedule and Simple Interest Payments Advanced | 40,486.55 | |||
| Schedule Principal Advanced | 320,879.90 | |||
| Total Collections For the Period | $ | 139,165,550.66 | ||
| Beginning Pool Aggregate Principal Balance | $ | 3,306,374,419.63 | ||
| Ending Pool Aggregate Principal Balance | $ | 3,308,454,194.11 | ||
| Beginning Aggregate Discounted Principal Balance | $ | 3,112,044,888.51 | ||
| Ending Aggregate Discounted Principal Balance | $ | 3,112,044,888.51 | ||
Part II. Distributions to Noteholders and Certificateholders | ||||
| Total Collections | $ | 139,165,550.66 | ||
| Plus: Reserve Account Draw | — | |||
| Plus: Net Amount Due From Swap Counterparty | — | |||
| Less: Total Servicing Fee | 5,510,624.03 | |||
| Less: Net Amount Due to Swap Counterparty | 1,419,664.91 | |||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 4,645,326.58 | |||
| Less: Reinvestment in New Receivables — Purchase Price | 118,669,287.06 | |||
| Less: Principal Due to Noteholders | — | |||
| Less: Principal Due to Certificateholders | — | |||
| Less: Reserve Account Deposit | 382.58 | |||
| Less: Accumulation Account Deposit | 226,264.68 | |||
| Equals Reserve Fund Excess to be released to CARI | $ | 8,694,000.82 | ||
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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
April 2003
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Class A-1a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 601,250.00 | 1.541667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 601,250.00 | ||||||
| Class A-1b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 890,800.00 | 1.133333 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 890,800.00 | ||||||
| Class A-2a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 457,783.33 | 1.891667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 457,783.33 | ||||||
| Class A-2b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 399,583.33 | 1.141667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 399,583.33 | ||||||
| Class A-3a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 916,666.67 | 2.291667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 916,666.67 | ||||||
| Class A-3b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 616,000.00 | 1.166667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 616,000.00 | ||||||
| Class A-4a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 445,883.33 | 2.583333 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 445,883.33 | ||||||
| Class A-4b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 178,750.00 | 1.191667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 178,750.00 | ||||||
| Class B Certificates Distributable Amount | ||||||||
| Monthly Interest | $ | 138,609.92 | 1.483333 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 138,609.92 | ||||||
| Total Servicing Fee | $ | 5,510,624.03 | 1.669862 | |||||
| | ||||||||
Part III. Reinvestment in New Receivables | ||||||||
| Principal Distributable Amount | $ | 118,862,328.43 | ||||||
| Plus: Accumulation Amount | 33,223.31 | |||||||
| Equals: Reinvestment Amount | $ | 118,895,551.74 | ||||||
| Additional Receivables Discounted Principal Balance | $ | 118,669,287.06 | ||||||
| Remaining Amount | $ | 226,264.68 | ||||||
| (to be deposited in the Accumulation Account) | ||||||||
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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
April 2003
Part IV. Payment Ahead and Advances
Payment Ahead Servicing Account | ||||
| Beginning Payment Ahead Balance | $ | 2,358,542.15 | ||
| Less: Payments Applied | 641,471.60 | |||
| Current Period Payments Ahead Received | 456,016.23 | |||
| Ending Payment Ahead Balance | $ | 2,173,086.78 | ||
Advance Account | ||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 536,591.93 | ||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | 180,757.50 | ||
| Scheduled Principal and Interest Advances | 361,366.45 | |||
| Simple Interest Advances | ||||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 216,118.59 | |||
| Reimbursement of Previous Simple Interest Advances | 167,083.05 | |||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 681,839.79 | ||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | 13,674.45 | ||
Part V. Balances & Principal Factors
| Beginning of Period | End of Period | ||||||||
| Total Pool Balance | $ | 3,306,374,419.63 | $ | 3,308,454,194.11 | |||||
| Total Pool Factor | 1.0019170 | 1.0025472 | |||||||
| Class A-1a Notes Balance | $ | 390,000,000.00 | $ | 390,000,000.00 | |||||
| Class A-1a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-1b Notes Balance | $ | 786,000,000.00 | $ | 786,000,000.00 | |||||
| Class A-1b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-2a Notes Balance | $ | 242,000,000.00 | $ | 242,000,000.00 | |||||
| Class A-2a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-2b Notes Balance | $ | 350,000,000.00 | $ | 350,000,000.00 | |||||
| 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 | $ | 528,000,000.00 | $ | 528,000,000.00 | |||||
| Class A-3b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-4a Notes Balance | $ | 172,600,000.00 | $ | 172,600,000.00 | |||||
| Class A-4a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-4b Notes Balance | $ | 150,000,000.00 | $ | 150,000,000.00 | |||||
| Class A-4b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class B Certificates Balance | $ | 93,444,888.51 | $ | 93,444,888.51 | |||||
| Class B Certificates Principal Factor | 1.0000000 | 1.0000000 | |||||||
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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
April 2003
Part VI. Reserve Account
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Beginning Reserve Account Balance | $ | 46,681,240.14 | ||||||
| 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 (for Accumulation Account) | 382.58 | |||||||
| Additions to Reserve Account | — | |||||||
| Releases from Reserve Account | — | — | ||||||
| Ending Reserve Account Balance | $ | 46,681,622.72 | ||||||
| Reserve Account Floor | $ | 23,340,336.66 | ||||||
| Early Amortization Trigger: | ||||||||
| Reserve Account Balance is less than the Specified Reserve Account Balance for Two Consecutive Months | ||||||||
| Preceding Collection Period | ||||||||
| Specified Reserve Account Balance | $ | 46,681,183.13 | ||||||
| Reserve Account Balance | $ | 46,681,183.13 | ||||||
| Current Collection Period | ||||||||
| Specified Reserve Account Balance | $ | 46,681,240.14 | ||||||
| Reserve Account Balance | $ | 46,681,240.14 | ||||||
Part VII. Accumulation Account | ||||||||
| Beginning Accumulation Account Balance | $ | 33,223.31 | ||||||
| Accumulation Account Interest | 57.01 | |||||||
| Release of Accumulated Balance | 33,280.32 | |||||||
| Deposit to Accumulation Account | 226,264.68 | |||||||
| Ending Accumulation Account Balance | $ | 226,264.68 | ||||||
| Early Amortization Trigger: | ||||||||
| Accumulation Account exceeds 1.00% of the Initial Aggregate Discounted Principal Balance | ||||||||
| Accumulation Account as a % of Initial Aggregate Discounted Principal Balance | 0.0073 | % | ||||||
Part VIII. Carryover Shortfall
| Per $1000 of | ||||||||||||
| Original Principal | ||||||||||||
| Noteholders’ Interest Carryover Shortfall | $ | — | — | |||||||||
| Noteholders’ Principal Carryover Shortfall | $ | — | — | |||||||||
| Certificateholders’ Interest Carryover Shortfall | $ | — | — | |||||||||
| Certificateholders’ Principal Carryover Shortfall | $ | — | — | |||||||||
Part IX. Charge Off and Delinquency Rates
| Charge Off Rate | Average Receivables | Credit Repurchases | Loss Rate | |||||||||
| April | $ | 3,241,473,438.98 | $ | 666,191.09 | 0.246625 | |||||||
| March | $ | 3,242,431,401.78 | $ | 507,613.62 | 0.187864 | |||||||
| February | $ | 3,245,071,999.67 | $ | 191,337.94 | 0.070755 | |||||||
| Three Month Average Loss Rate | 0.168415 | |||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Delinquent | |||||||||
| April | 175,821 | 262 | 0.149015 | |||||||||
| March | 173,120 | 273 | 0.157694 | |||||||||
| February | 170,048 | 248 | 0.145841 | |||||||||
| Three Month Average Delinquency Rate | 0.150850 | |||||||||||
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