EXHIBIT 20.1
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
May 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 | $ | 129,139,370.79 | ||
| Principal on Repurchased Contracts | 5,945,005.71 | |||
| Schedule and Simple Interest Payments Advanced | 242,350.81 | |||
| Schedule Principal Advanced | 354,093.34 | |||
| Total Collections For the Period | $ | 135,680,820.65 | ||
| Beginning Pool Aggregate Principal Balance | $ | 3,308,454,194.11 | ||
| Ending Pool Aggregate Principal Balance | $ | 3,311,589,970.41 | ||
| 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 | $ | 135,680,820.65 | ||
| Plus: Reserve Account Draw | — | |||
| Plus: Net Amount Due From Swap Counterparty | — | |||
| Less: Total Servicing Fee | 5,514,090.32 | |||
| Less: Net Amount Due to Swap Counterparty | 1,392,908.52 | |||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 4,793,576.14 | |||
| Less: Reinvestment in New Receivables — Purchase Price | 115,264,004.75 | |||
| Less: Principal Due to Noteholders | — | |||
| Less: Principal Due to Certificateholders | — | |||
| Less: Reserve Account Deposit | 610.76 | |||
| Less: Accumulation Account Deposit | 361,217.17 | |||
| Equals Reserve Fund Excess to be released to CARI | $ | 8,354,412.99 | ||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
May 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 | $ | 950,186.67 | 1.208889 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 950,186.67 | ||||||
| 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 | $ | 426,222.22 | 1.217778 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 426,222.22 | ||||||
| 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 | $ | 657,066.67 | 1.244444 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 657,066.67 | ||||||
| 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 | $ | 190,666.67 | 1.271111 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 190,666.67 | ||||||
| Class B Certificates Distributable Amount | ||||||||
| Monthly Interest | $ | 147,850.58 | 1.582222 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 147,850.58 | ||||||
| Total Servicing Fee | $ | 5,514,090.32 | 1.670912 | |||||
Part III. Reinvestment in New Receivables | ||||||||
| Principal Distributable Amount | $ | 115,398,957.24 | ||||||
| Plus: Accumulation Amount | 226,264.68 | |||||||
| Equals: Reinvestment Amount | $ | 115,625,221.92 | ||||||
| Additional Receivables Discounted Principal Balance | $ | 115,264,004.75 | ||||||
| Remaining Amount | $ | 361,217.17 | ||||||
| (to be deposited in the Accumulation Account) | ||||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
May 2003
Part IV. Payment Ahead and Advances
Payment Ahead Servicing Account | ||||
| Beginning Payment Ahead Balance | $ | 2,228,907.52 | ||
| Less: Payments Applied | 601,038.23 | |||
| Current Period Payments Ahead Received | 464,102.64 | |||
| Ending Payment Ahead Balance | $ | 2,091,971.93 | ||
Advance Account | ||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 681,839.79 | ||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | 13,674.45 | ||
| Scheduled Principal and Interest Advances | 414,398.53 | |||
| Simple Interest Advances | 182,045.62 | |||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 286,536.37 | |||
| Reimbursement of Previous Simple Interest Advances | ||||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 809,701.95 | ||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | 195,720.07 | ||
Part V. Balances & Principal Factors
| Beginning of Period | End of Period | ||||||||
| Total Pool Balance | $ | 3,308,454,194.11 | $ | 3,311,589,970.41 | |||||
| Total Pool Factor | 1.0025472 | 1.0034974 | |||||||
| 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 | |||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
May 2003
Part VI. Reserve Account
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Beginning Reserve Account Balance | $ | 46,681,622.72 | ||||||
| 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) | 610.76 | |||||||
| Additions to Reserve Account | — | |||||||
| Releases from Reserve Account | — | — | ||||||
| Ending Reserve Account Balance | $ | 46,682,233.48 | ||||||
| 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 | $ | 46,681,240.14 | ||||||
| Reserve Account Balance | $ | 46,681,240.14 | ||||||
| Current Collection Period | ||||||||
| Specified Reserve Account Balance | $ | 46,681,622.72 | ||||||
| Reserve Account Balance | $ | 46,681,622.72 | ||||||
Part VII. Accumulation Account | ||||||||
| Beginning Accumulation Account Balance | $ | 226,264.68 | ||||||
| Accumulation Account Interest | 382.58 | |||||||
| Release of Accumulated Balance | 226,647.26 | |||||||
| Deposit to Accumulation Account | 361,217.17 | |||||||
| Ending Accumulation Account Balance | $ | 361,217.17 | ||||||
| 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 | 0.0116 | % | ||||||
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 | |||||||||
| May | $ | 3,245,309,112.82 | $ | 715,287.66 | 0.264488 | |||||||
| April | $ | 3,241,473,438.98 | $ | 666,191.09 | 0.246625 | |||||||
| March | $ | 3,242,431,401.78 | $ | 507,613.62 | 0.187864 | |||||||
| Three Month Average Loss Rate | 0.232992 | |||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Delinquent | |||||||||
| May | 178,856 | 281 | 0.157110 | |||||||||
| April | 175,821 | 262 | 0.149015 | |||||||||
| March | 173,120 | 273 | 0.157694 | |||||||||
| Three Month Average Delinquency Rate | 0.154606 | |||||||||||
