EXHIBIT 20.1
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
October 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 | $ | 145,059,203.87 | ||||||
| Principal on Repurchased Contracts | 7,313,489.79 | |||||||
| Schedule and Simple Interest Payments Advanced | 44,344.43 | |||||||
| Schedule Principal Advanced | 344,253.21 | |||||||
| Total Collections For the Period | $ | 152,761,291.30 | ||||||
| Beginning Pool Aggregate Principal Balance | $ | 3,330,711,772.32 | ||||||
| Ending Pool Aggregate Principal Balance | $ | 3,335,505,267.04 | ||||||
| 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 | $ | 152,761,291.30 | ||||||
| Plus: Reserve Account Draw | — | |||||||
| Plus: Net Amount Due From Swap Counterparty | — | |||||||
| Less: Total Servicing Fee | 5,551,186.29 | |||||||
| Less: Net Amount Due to Swap Counterparty | 1,772,281.19 | |||||||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 4,535,487.59 | |||||||
| Less: Reinvestment in New Receivables — Purchase Price | 131,746,548.38 | |||||||
| Less: Principal Due to Noteholders | — | |||||||
| Less: Principal Due to Certificateholders | — | |||||||
| Less: Reserve Account Deposit | 682.70 | |||||||
| Less: Accumulation Account Deposit | 369,193.69 | |||||||
| Equals Reserve Fund Excess to be released to CARI | $ | 8,785,911.46 | ||||||
Page 1
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
October 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 | $ | 842,985.00 | 1.072500 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 842,985.00 | ||||||
| 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 | $ | 378,583.33 | 1.081667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 378,583.33 | ||||||
| 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 | $ | 585,640.00 | 1.109167 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 585,640.00 | ||||||
| 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 | $ | 170,500.00 | 1.136667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 170,500.00 | ||||||
| Class B Certificates Distributable Amount | ||||||||
| Monthly Interest | $ | 136,195.93 | 1.457500 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 136,195.93 | ||||||
| Total Servicing Fee | $ | 5,551,186.29 | 1.682153 | |||||
Part III. Reinvestment in New Receivables
| Principal Distributable Amount | $ | 131,799,124.43 | ||
| Plus: Accumulation Amount | 316,617.64 | |||
| Equals: Reinvestment Amount | $ | 132,115,742.07 | ||
| Additional Receivables Discounted Principal Balance | $ | 131,746,548.38 | ||
| Remaining Amount | $ | 369,193.69 | ||
| (to be deposited in the Accumulation Account) | ||||
Page 2
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
October 2003
Part IV. Payment Ahead and Advances
Payment Ahead Servicing Account | ||||||||
| Beginning Payment Ahead Balance | $ | 2,376,006.69 | ||||||
| Less: Payments Applied | 482,615.74 | |||||||
| Current Period Payments Ahead Received | 659,242.24 | |||||||
| Ending Payment Ahead Balance | $ | 2,552,633.19 | ||||||
Advance Account | ||||||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 1,069,858.60 | ||||||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | — | ||||||
| Scheduled Principal and Interest Advances | 388,597.64 | |||||||
| Simple Interest Advances | — | |||||||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 410,223.54 | |||||||
| Reimbursement of Previous Simple Interest Advances | — | |||||||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 1,048,232.70 | ||||||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | — | ||||||
Part V. Balances & Principal Factors
| Beginning of Period | End of Period | ||||||||
| Total Pool Balance | $ | 3,330,711,772.32 | $ | 3,335,505,267.04 | |||||
| Total Pool Factor | 1.0092918 | 1.0107444 | |||||||
| 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 | |||||||
Page 3
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
October 2003
Part VI. Reserve Account
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Beginning Reserve Account Balance | $ | 46,684,337.83 | ||||||
| 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) | 682.70 | |||||||
| Additions to Reserve Account | — | |||||||
| Releases from Reserve Account | — | — | ||||||
| Ending Reserve Account Balance | $ | 46,685,020.53 | ||||||
| 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 | $ | 46,683,752.35 | ||||||
| Reserve Account Balance | $ | 46,683,752.35 | ||||||
| Current Collection Period | ||||||||
| Specified Reserve Account Balance | $ | 46,684,337.83 | ||||||
| Reserve Account Balance | $ | 46,684,337.83 | ||||||
Part VII. Accumulation Account | ||||||||
| Beginning Accumulation Account Balance | $ | 316,617.64 | ||||||
| Accumulation Account Interest | 585.48 | |||||||
| Release of Accumulated Balance | 317,203.12 | |||||||
| Deposit to Accumulation Account | 369,193.69 | |||||||
| Ending Accumulation Account Balance | $ | 369,193.69 | ||||||
| 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 | 0.0119 | % | ||||||
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 | |||||||||
| October | $ | 3,258,433,786.13 | $ | 803,928.93 | 0.296067 | |||||||
| September | $ | 3,253,720,792.86 | $ | 909,191.75 | 0.335318 | |||||||
| August | $ | 3,254,049,464.56 | $ | 714,842.60 | 0.263613 | |||||||
| Three Month Average Loss Rate | 0.298333 | |||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Delinquent | |||||||||
| October | 190,392 | 364 | 0.191185 | |||||||||
| September | 187,936 | 347 | 0.184637 | |||||||||
| August | 185,792 | 347 | 0.186768 | |||||||||
| Three Month Average Delinquency Rate | 0.187530 | |||||||||||
Page 4
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-2
October 2003
Original Inputs
| Total Pool Balance | $ | 3,340,006,891.76 | ||||||
| Class A-1 Notes Balance | $ | 755,000,000.00 | ||||||
| Class A-1 Notes Rate | One Month LIBOR+.06% | |||||||
| Class A-2a Notes Balance | $ | 230,000,000.00 | ||||||
| Class A-2a Notes Rate | 1.200 | % | ||||||
| Class A-2b Notes Balance | $ | 342,000,000.00 | ||||||
| Class A-2b Notes Rate | One Month LIBOR+.02% | |||||||
| Class A-3a Notes Balance | $ | 450,000,000.00 | ||||||
| Class A-3a Notes Rate | 1.440 | % | ||||||
| Class A-3b Notes Balance | $ | 636,000,000.00 | ||||||
| Class A-3b Notes Rate | One Month LIBOR+.04% | |||||||
| Class A-4a Notes Balance | $ | 250,000,000.00 | ||||||
| Class A-4a Notes Rate | 1.960 | % | ||||||
| Class A-4b Notes Balance | $ | 255,400,000.00 | ||||||
| Class A-4b Notes Rate | One Month LIBOR+.06% | |||||||
| Class B Certificates Balance | $ | 90,261,344.19 | ||||||
| Class B Certificates Rate | One Month LIBOR+.28% | |||||||
| Reserve Account Deposit | $ | 45,129,920.16 | ||||||
Part I. Collections | ||||||||
| Receipts During the Period | $ | 110,278,743.22 | ||||||
| Principal on Repurchased Contracts | 4,529,960.34 | |||||||
| Schedule and Simple Interest Payments Advanced | 34,107.37 | |||||||
| Schedule Principal Advanced | 251,441.88 | |||||||
| Total Collections For the Period | $ | 115,094,252.81 | ||||||
| Beginning Pool Aggregate Principal Balance | $ | 2,808,618,312.87 | ||||||
| Ending Pool Aggregate Principal Balance | $ | 2,696,755,142.33 | ||||||
| Scheduled Principal Collection | $ | 102,817,402.45 | ||||||
| Beginning Aggregate Discounted Principal Balance | $ | 2,551,609,203.71 | ||||||
| Ending Aggregate Discounted Principal Balance | $ | 2,454,007,322.20 | ||||||
Part II. Distributions to Noteholders and Certificateholders | ||||||||
| Total Collections | $ | 115,094,252.81 | ||||||
| Plus: Reserve Account Draw | 1,464,028.23 | |||||||
| Plus: Net Amount Due From Swap Counterparty | — | |||||||
| Less: Total Servicing Fee | 4,681,030.52 | |||||||
| Less: Net Amount Due to Swap Counterparty | 378,788.28 | |||||||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 2,926,376.66 | |||||||
| Less: Principal Due to Noteholders | 97,601,881.51 | |||||||
| Less: Principal Due to Certificateholders | — | |||||||
| Less: Reserve Account Deposit | — | |||||||
| Equals Reserve Fund Excess to be released to CARI | $ | 10,970,204.07 | ||||||
Page 1
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-2
October 2003
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Class A-1 Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 322,280.27 | 0.426861 | |||||
| Monthly Principal | 97,601,881.51 | 129.274015 | ||||||
| Distributable Amount | $ | 97,924,161.78 | ||||||
| Class A-2a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 230,000.00 | 1.000000 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 230,000.00 | ||||||
| Class A-2b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 357,390.00 | 1.045000 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 357,390.00 | ||||||
| Class A-3a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 540,000.00 | 1.200000 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 540,000.00 | ||||||
| Class A-3b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 676,280.00 | 1.063333 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 676,280.00 | ||||||
| Class A-4a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 408,333.33 | 1.633333 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 408,333.33 | ||||||
| Class A-4b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 276,257.67 | 1.081667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 276,257.67 | ||||||
| Class B Certificates Distributable Amount | ||||||||
| Monthly Interest | $ | 115,835.39 | 1.283333 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 115,835.39 | ||||||
| Total Servicing Fee | $ | 4,681,030.52 | 1.401503 | |||||
Part III. Payment Ahead and Advances
Payment Ahead Servicing Account | ||||||||
| Beginning Payment Ahead Balance | $ | 1,618,629.68 | ||||||
| Less: Payments Applied | 362,419.58 | |||||||
| Current Period Payments Ahead Received | 485,523.78 | |||||||
| Ending Payment Ahead Balance | $ | 1,741,733.88 | ||||||
Advance Account | ||||||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 669,952.12 | ||||||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | — | ||||||
| Scheduled Principal and Interest Advances | 285,549.25 | |||||||
| Simple Interest Advances | — | |||||||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 296,921.70 | |||||||
| Reimbursement of Previous Simple Interest Advances | — | |||||||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 658,579.67 | ||||||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | — | ||||||
Page 2
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-2
October 2003
Part IV. Balance and Principal Factors
| Beginning of Period | End of Period | ||||||||
| Total Pool Balance | $ | 2,808,618,312.87 | $ | 2,696,755,142.33 | |||||
| Total Pool Factor | 0.8409020 | 0.8074101 | |||||||
| Class A-1 Notes Balance | $ | 297,947,859.52 | $ | 200,345,978.01 | |||||
| Class A-1 Notes Principal Factor | 0.3946329 | 0.2653589 | |||||||
| Class A-2a Notes Balance | $ | 230,000,000.00 | $ | 230,000,000.00 | |||||
| Class A-2a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-2b Notes Balance | $ | 342,000,000.00 | $ | 342,000,000.00 | |||||
| Class A-2b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-3a Notes Balance | $ | 450,000,000.00 | $ | 450,000,000.00 | |||||
| Class A-3a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-3b Notes Balance | $ | 636,000,000.00 | $ | 636,000,000.00 | |||||
| Class A-3b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-4a Notes Balance | $ | 250,000,000.00 | $ | 250,000,000.00 | |||||
| Class A-4a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-4b Notes Balance | $ | 255,400,000.00 | $ | 255,400,000.00 | |||||
| Class A-4b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class B Certificates Balance | $ | 90,261,344.19 | $ | 90,261,344.19 | |||||
| Class B Certificates Principal Factor | 1.0000000 | 1.0000000 | |||||||
Part V. Reserve Account
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Beginning Reserve Account Balance | $ | 38,274,138.06 | — | |||||
| 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 | — | |||||||
| Releases from Reserve Account | 1,464,028.23 | 32.440302 | ||||||
| Ending Reserve Account Balance | $ | 36,810,109.83 | ||||||
| Reserve Account Floor | $ | 22,564,960.08 | ||||||
Part VI. Carryover Shortfall | ||||||||
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Noteholders’ Interest Carryover Shortfall | $ | — | — | |||||
| Noteholders’ Principal Carryover Shortfall | $ | — | — | |||||
| Certificateholders’ Interest Carryover Shortfall | $ | — | — | |||||
| Certificateholders’ Principal Carryover Shortfall | $ | — | — | |||||
Part VII. Charge Off and Delinquency Rates
| Charge Off Rate | Average Receivables | Credit Repurchases | Loss Rate | |||||||||
| October | $ | 2,752,686,727.60 | $ | 468,668.56 | 0.204310 | |||||||
| September | $ | 2,864,712,559.09 | $ | 468,246.81 | 0.196144 | |||||||
| August | $ | 2,975,267,202.35 | $ | 324,709.19 | 0.130963 | |||||||
| Three Month Average Loss Rate | 0.177139 | |||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Delinquent | |||||||||
| October | 145,223 | 226 | 0.155623 | |||||||||
| September | 147,244 | 183 | 0.124284 | |||||||||
| August | 149,121 | 198 | 0.132778 | |||||||||
| Three Month Average Delinquency Rate | 0.137561 | |||||||||||
Page 3
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-2
October 2003
Part VIII. Prepayment Rate
| Month | Prepayment Rate | |||||||
| % | ||||||||
| 1 | 0.17 | |||||||
| 2 | 0.98 | |||||||
| 3 | 1.07 | |||||||
| 4 | 0.99 | |||||||
| 5 | 1.16 | |||||||
| 6 | 1.21 | |||||||
Page 4
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-3
October 2003
Original Inputs
| Total Pool Balance | $ | 3,300,059,139.23 | |||||||
| Class A-1a Notes Balance | $ | 150,000,000.00 | |||||||
| Class A-1a Notes Rate | 1.770 | % | |||||||
| Class A-1b Notes Balance | $ | 980,000,000.00 | |||||||
| Class A-1b Notes Rate | One Month LIBOR+.05% | ||||||||
| Class A-2a Notes Balance | $ | 125,000,000.00 | |||||||
| Class A-2a Notes Rate | 2.350 | % | |||||||
| Class A-2b Notes Balance | $ | 525,000,000.00 | |||||||
| Class A-2b Notes Rate | One Month LIBOR+.06% | ||||||||
| Class A-3a Notes Balance | $ | 350,000,000.00 | |||||||
| Class A-3a Notes Rate | 2.960 | % | |||||||
| Class A-3b Notes Balance | $ | 470,000,000.00 | |||||||
| Class A-3b Notes Rate | One Month LIBOR+.08% | ||||||||
| Class A-4a Notes Balance | $ | 150,500,000.00 | |||||||
| Class A-4a Notes Rate | 3.400 | % | |||||||
| Class A-4b Notes Balance | $ | 105,000,000.00 | |||||||
| Class A-4b Notes Rate | One Month LIBOR+.09% | ||||||||
| Class B-1 Certificates Balance | $ | 58,331,568.24 | |||||||
| Class B-1 Certificates Rate | 3,710 | % | |||||||
| Class B-2 Certificates Balance | $ | 30,000,000.00 | |||||||
| Class B-2 Certificates Rate | One Month LIBOR+.35% | ||||||||
| Reserve Account Deposit | $ | 44,157,473.52 | |||||||
Part I. Collections | |||||||||
| Receipts During the Period | $ | 110,600,080.64 | |||||||
| Principal on Repurchased Contracts | 6,454,811.31 | ||||||||
| Schedule and Simple Interest Payments Advanced | 27,599.72 | ||||||||
| Schedule Principal Advanced | 757,331.19 | ||||||||
| Total Collections For the Period | $ | 117,839,822.86 | |||||||
| Beginning Pool Aggregate Principal Balance | $ | 3,285,841,686.78 | |||||||
| Ending Pool Aggregate Principal Balance | $ | 3,281,880,557.11 | |||||||
| Beginning Aggregate Discounted Principal Balance | $ | 2,943,831,568.24 | |||||||
| Ending Aggregate Discounted Principal Balance | $ | 2,943,831,568.24 | |||||||
Part II. Distributions to Noteholders and Certificateholders | |||||||||
| Total Collections | $ | 117,839,822.86 | |||||||
| Plus: Reserve Account Draw | — | ||||||||
| Plus: Net Amount Due From Swap Counterparty | — | ||||||||
| Less: Total Servicing Fee | 5,476,402.81 | ||||||||
| Less: Net Amount Due to Swap Counterparty | 2,034,765.28 | ||||||||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 4,228,945.93 | ||||||||
| Less: Reinvestment in New Receivables — Purchase Price | 99,739,293.24 | ||||||||
| Less: Principal Due to Noteholders | — | ||||||||
| Less: Principal Due to Certificateholders | — | ||||||||
| Less: Reserve Account Deposit | 449.04 | ||||||||
| Less: Accumulation Account Deposit | 162,156.75 | ||||||||
| Equals Reserve Fund Excess to be released to CARI | $ | 6,197,809.81 | |||||||
Page 1
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-3
October 2003
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Class A-1a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 221,250.00 | 1.475000 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 221,250.00 | ||||||
| Class A-1b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 1,051,050.00 | 1.072500 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 1,051,050.00 | ||||||
| Class A-2a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 244,791.67 | 1.958333 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 244,791.67 | ||||||
| Class A-2b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 567,875.00 | 1.081667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 567,875.00 | ||||||
| Class A-3a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 863,333.33 | 2.466667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 863,333.33 | ||||||
| Class A-3b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 517,000.00 | 1.100000 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 517,000.00 | ||||||
| Class A-4a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 426,416.67 | 2.833333 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 426,416.67 | ||||||
| Class A-4b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 116,462.50 | 1.109167 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 116,462.50 | ||||||
| Class B-1 Certificates Distributable Amount | ||||||||
| Monthly Interest | $ | 180,341.76 | 3.091667 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 180,341.76 | ||||||
| Class B-2 Certificates Distributable Amount | ||||||||
| Monthly Interest | $ | 40,425.00 | 1.347500 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 40,425.00 | ||||||
| Total Servicing Fee | $ | 5,476,402.81 | 1.659486 | |||||
Part III. Reinvestment in New Receivables
| Principal Distributable Amount | $ | 99,580,951.21 | ||
| Plus: Accumulation Amount | 320,498.78 | |||
| Equals: Reinvestment Amount | $ | 99,901,449.99 | ||
| Additional Receivables Discounted Principal Balance | $ | 99,739,293.24 | ||
| Remaining Amount | $ | 162,156.75 | ||
| (to be deposited in the Accumulation Account) | ||||
Page 2
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-3
October 2003
Part IV. Payment Ahead and Advances
Payment Ahead Servicing Account | ||||||||
| Beginning Payment Ahead Balance | $ | 5,665,060.65 | ||||||
| Less: Payments Applied | 1,245,198.13 | |||||||
| Current Period Payments Ahead Received | 1,826,603.92 | |||||||
| Ending Payment Ahead Balance | $ | 6,246,466.44 | ||||||
Advance Account | ||||||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 1,430,924.34 | ||||||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | — | ||||||
| Scheduled Principal and Interest Advances | 784,930.91 | |||||||
| Simple Interest Advances | — | |||||||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 806,366.54 | |||||||
| Reimbursement of Previous Simple Interest Advances | — | |||||||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 1,409,488.71 | ||||||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | — | ||||||
Part V. Balances & Principal Factors
| Beginning of Period | End of Period | ||||||||
| Total Pool Balance | $ | 3,285,841,686.78 | $ | 3,281,880,557.11 | |||||
| Total Pool Factor | 0.9956918 | 0.9944914 | |||||||
| Class A-1a Notes Balance | $ | 150,000,000.00 | $ | 150,000,000.00 | |||||
| Class A-1a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-1b Notes Balance | $ | 980,000,000.00 | $ | 980,000,000.00 | |||||
| Class A-1b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-2a Notes Balance | $ | 125,000,000.00 | $ | 125,000,000.00 | |||||
| Class A-2a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-2b Notes Balance | $ | 525,000,000.00 | $ | 525,000,000.00 | |||||
| Class A-2b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-3a Notes Balance | $ | 350,000,000.00 | $ | 350,000,000.00 | |||||
| Class A-3a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-3b Notes Balance | $ | 470,000,000.00 | $ | 470,000,000.00 | |||||
| Class A-3b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-4a Notes Balance | $ | 150,500,000.00 | $ | 150,500,000.00 | |||||
| Class A-4a Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class A-4b Notes Balance | $ | 105,000,000.00 | $ | 105,000,000.00 | |||||
| Class A-4b Notes Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class B-1 Certificates Balance | $ | 58,331,568.24 | $ | 58,331,568.24 | |||||
| Class B-1 Certificates Principal Factor | 1.0000000 | 1.0000000 | |||||||
| Class B-2 Certificates Balance | $ | 30,000,000.00 | $ | 30,000,000.00 | |||||
| Class B-2 Certificates Principal Factor | 1.0000000 | 1.0000000 | |||||||
Page 3
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-3
October 2003
Part VI. Reserve Account
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Beginning Reserve Account Balance | $ | 44,158,913.71 | ||||||
| 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) | 449.04 | |||||||
| Additions to Reserve Account | — | |||||||
| Releases from Reserve Account | — | — | ||||||
| Ending Reserve Account Balance | $ | 44,159,362.75 | ||||||
| Reserve Account Floor | $ | 22,078,736.76 | ||||||
| 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 | $ | 44,158,026.20 | ||||||
| Reserve Account Balance | $ | 44,158,026.20 | ||||||
| Current Collection Period | ||||||||
| Specified Reserve Account Balance | $ | 44,158,913.71 | ||||||
| Reserve Account Balance | $ | 44,158,913.71 | ||||||
Part VII. Accumulation Account | ||||||||
| Beginning Accumulation Account Balance | $ | 320,498.78 | ||||||
| Accumulation Account Interest | 887.51 | |||||||
| Release of Accumulated Balance | 321,386.29 | |||||||
| Deposit to Accumulation Account | 162,156.75 | |||||||
| Ending Accumulation Account Balance | $ | 162,156.75 | ||||||
| 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 | 0.0055 | % | ||||||
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 | |||||||||
| October | $ | 3,227,845,740.45 | $ | 328,273.76 | 0.122041 | |||||||
| September | $ | 3,233,057,874.56 | $ | 130,599.36 | 0.048474 | |||||||
| August | $ | 3,162,295,761.46 | $ | 20,741.55 | 0.007871 | |||||||
| Three Month Average Loss Rate | 0.059462 | |||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Delinquent | |||||||||
| October | 162,520 | 172 | 0.105833 | |||||||||
| September | 159,147 | 159 | 0.099908 | |||||||||
| August | 152,326 | 142 | 0.093221 | |||||||||
| Three Month Average Delinquency Rate | 0.099654 | |||||||||||
Page 4
