EXHIBIT 20.1
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
December 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 | $ | 143,815,417.67 | ||||||
| Principal on Repurchased Contracts | 6,403,829.29 | |||||||
| Schedule and Simple Interest Payments Advanced | 60,788.25 | |||||||
| Schedule Principal Advanced | 466,711.82 | |||||||
| Total Collections For the Period | $ | 150,746,747.03 | ||||||
| Beginning Pool Aggregate Principal Balance | $ | 3,338,301,066.69 | ||||||
| Ending Pool Aggregate Principal Balance | $ | 3,195,123,486.44 | ||||||
| Beginning Aggregate Discounted Principal Balance | $ | 3,112,044,888.51 | ||||||
| Ending Aggregate Discounted Principal Balance | $ | 2,981,589,269.25 | ||||||
Part II. Distributions to Noteholders and Certificateholders | ||||||||
| Total Collections | $ | 150,746,747.03 | ||||||
| Plus: Reserve Account Draw | 1,961,482.22 | |||||||
| Plus: Net Amount Due From Swap Counterparty | — | |||||||
| Less: Total Servicing Fee | 5,563,835.11 | |||||||
| Less: Net Amount Due to Swap Counterparty | 1,587,739.60 | |||||||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 4,477,179.37 | |||||||
| Less: Reinvestment in New Receivables — Purchase Price | 0.00 | |||||||
| Less: Principal Due to Noteholders | 126,538,448.64 | |||||||
| Less: Principal Due to Certificateholders | 3,917,170.62 | |||||||
| Less: Reserve Account Deposit | — | |||||||
| Less: Accumulation Account Deposit | — | |||||||
| Equals Reserve Fund Excess to be released to CARI | $ | 10,623,855.91 | ||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
December 2003
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Class A-1a Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 601,250.00 | 1.541667 | |||||
| Monthly Principal | 41,964,281.44 | 107.600722 | ||||||
| Distributable Amount | 42,565,531.44 | |||||||
| Class A-1b Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 820,660.42 | 1.044097 | |||||
| Monthly Principal | 84,574,167.20 | 107.600722 | ||||||
| Distributable Amount | 85,394,827.62 | |||||||
| 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 | $ | 368,447.92 | 1.052708 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 368,447.92 | ||||||
| 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 | $ | 569,470.00 | 1.078542 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 569,470.00 | ||||||
| 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 | $ | 165,656.25 | 1.104375 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 165,656.25 | ||||||
| Class B Certificates Distributable Amount | ||||||||
| Monthly Interest | $ | 131,361.45 | 1.405764 | |||||
| Monthly Principal | 3,917,170.62 | 41.919582 | ||||||
| Distributable Amount | $ | 4,048,532.07 | ||||||
| Total Servicing Fee | $ | 5,563,835.11 | 1.685986 | |||||
Part III. Reinvestment in New Receivables | ||||||||
| Principal Distributable Amount | $ | — | ||||||
| Plus: Accumulation Amount | — | |||||||
| Equals: Reinvestment Amount | $ | — | ||||||
| Additional Receivables Discounted Principal Balance | $ | — | ||||||
| Remaining Amount | $ | — | ||||||
| (to be deposited in the Accumulation Account) | ||||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
December 2003
Part IV. Payment Ahead and Advances
Payment Ahead Servicing Account | ||||
| Beginning Payment Ahead Balance | $ | 1,948,560.36 | ||
| Less: Payments Applied | 443,659.86 | |||
| Current Period Payments Ahead Received | 724,867.73 | |||
| Ending Payment Ahead Balance | $ | 2,229,768.23 | ||
Advance Account | ||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 1,668,960.67 | ||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | 301,090.05 | ||
| Scheduled Principal and Interest Advances | 527,500.07 | |||
| Simple Interest Advances | ||||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 652,332.55 | |||
| Reimbursement of Previous Simple Interest Advances | 231,488.45 | |||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 1,544,128.19 | ||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | 69,601.60 | ||
Part V. Balances & Principal Factors
| Beginning of Period | End of Period | ||||||||
| Total Pool Balance | $ | 3,338,301,066.69 | $ | 3,195,123,486.44 | |||||
| Total Pool Factor | 1.0115916 | 0.9682050 | |||||||
| Class A-1a Notes Balance | $ | 390,000,000.00 | $ | 348,035,718.56 | |||||
| Class A-1a Notes Principal Factor | 1.0000000 | 0.8923993 | |||||||
| Class A-1b Notes Balance | $ | 786,000,000.00 | $ | 701,425,832.80 | |||||
| Class A-1b Notes Principal Factor | 1.0000000 | 0.8923993 | |||||||
| 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 | $ | 89,527,717.89 | |||||
| Class B Certificates Principal Factor | 1.0000000 | 0.9580804 | |||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-1
December 2003
Part VI. Reserve Account
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Beginning Reserve Account Balance | $ | 46,685,321.26 | ||||||
| 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) | — | |||||||
| Additions to Reserve Account | — | |||||||
| Releases from Reserve Account | 1,961,482.22 | 42.019150 | ||||||
| Ending Reserve Account Balance | $ | 44,723,839.04 | ||||||
| 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 | $ | 46,685,020.53 | ||||||
| Reserve Account Balance | $ | 46,685,020.53 | ||||||
| Current Collection Period | ||||||||
| Specified Reserve Account Balance | $ | 46,685,321.26 | ||||||
| Reserve Account Balance | $ | 46,685,321.26 | ||||||
Part VII. Accumulation Account | ||||||||
| Beginning Accumulation Account Balance | $ | 162,627.71 | ||||||
| Accumulation Account Interest | 300.73 | |||||||
| Release of Accumulated Balance | 162,928.44 | |||||||
| Deposit to Accumulation Account | — | |||||||
| Ending Accumulation Account Balance | $ | — | ||||||
| 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 | 0.0000 | % | ||||||
| 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 | |||||||||
| December | $ | 3,266,712,276.57 | $ | 1,053,021.69 | 0.386819 | |||||||
| November | $ | 3,273,018,406.96 | $ | 873,780.90 | 0.320358 | |||||||
| October | $ | 3,258,433,786.13 | $ | 803,928.93 | 0.296067 | |||||||
| Three Month Average Loss Rate | 0.334415 | |||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Delinquent | |||||||||
| December | 194,778 | 451 | 0.231546 | |||||||||
| November | 193,464 | 355 | 0.183497 | |||||||||
| October | 190,392 | 364 | 0.191185 | |||||||||
| Three Month Average Delinquency Rate | 0.202076 | |||||||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-2
December 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 | $ | 105,673,087.82 | ||||
| Principal on Repurchased Contracts | 4,138,331.13 | |||||
| Schedule and Simple Interest Payments Advanced | 36,782.60 | |||||
| Schedule Principal Advanced | 296,102.87 | |||||
| Total Collections For the Period | $ | 110,144,304.42 | ||||
| Beginning Pool Aggregate Principal Balance | $ | 2,601,856,826.53 | ||||
| Ending Pool Aggregate Principal Balance | $ | 2,494,635,215.88 | ||||
| Scheduled Principal Collection | $ | 100,238,687.86 | ||||
| Beginning Aggregate Discounted Principal Balance | $ | 2,371,918,782.88 | ||||
| Ending Aggregate Discounted Principal Balance | $ | 2,277,827,953.98 | ||||
Part II. Distributions to Noteholders and Certificateholders | ||||||
| Total Collections | $ | 110,144,304.42 | ||||
| Plus: Reserve Account Draw | 1,411,362.43 | |||||
| Plus: Net Amount Due From Swap Counterparty | — | |||||
| Less: Total Servicing Fee | 4,336,428.04 | |||||
| Less: Net Amount Due to Swap Counterparty | 300,765.75 | |||||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 2,690,619.43 | |||||
| Less: Principal Due to Noteholders | 94,090,828.90 | |||||
| Less: Principal Due to Certificateholders | — | |||||
| Less: Reserve Account Deposit | — | |||||
| Equals Reserve Fund Excess to be released to CARI | $ | 10,137,024.73 | ||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-2
December 2003
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Class A-1 Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 124,490.59 | 0.164888 | |||||
| Monthly Principal | 94,090,828.90 | 124.623614 | ||||||
| Distributable Amount | $ | 94,215,319.49 | ||||||
| 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 | $ | 348,246.25 | 1.018264 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 348,246.25 | ||||||
| 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 | $ | 658,569.17 | 1.035486 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 658,569.17 | ||||||
| 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 | $ | 268,861.71 | 1.052708 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 268,861.71 | ||||||
| Class B Certificates Distributable Amount | ||||||||
| Monthly Interest | $ | 112,118.38 | 1.242153 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 112,118.38 | ||||||
| Total Servicing Fee | $ | 4,336,428.04 | 1.298329 | |||||
Part III. Payment Ahead and Advances | ||||||||
| Payment Ahead Servicing Account | ||||||||
| Beginning Payment Ahead Balance | $ | 1,336,038.94 | ||||||
| Less: Payments Applied | 327,080.76 | |||||||
| Current Period Payments Ahead Received | 429,384.45 | |||||||
| Ending Payment Ahead Balance | $ | 1,438,342.63 | ||||||
| Advance Account | ||||||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 1,133,833.91 | ||||||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | 100,627.92 | ||||||
| Scheduled Principal and Interest Advances | 332,885.47 | |||||||
| Simple Interest Advances | — | |||||||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 521,128.46 | |||||||
| Reimbursement of Previous Simple Interest Advances | 68,786.26 | |||||||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 945,590.92 | ||||||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | 31,841.66 | ||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-2
December 2003
Part IV. Balances & Principal Factors
| Beginning of Period | End of Period | ||||||||
| Total Pool Balance | $ | 2,601,856,826.53 | $ | 2,494,635,215.88 | |||||
| Total Pool Factor | 0.7789974 | 0.7468952 | |||||||
| Class A-1 Notes Balance | $ | 118,257,438.69 | $ | 24,166,609.79 | |||||
| Class A-1 Notes Principal Factor | 0.1566324 | 0.0320088 | |||||||
| 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 | $ | 35,578,781.74 | |||||||
| 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 | 1,411,362.43 | 31.273320 | |||||||
| Ending Reserve Account Balance | $ | 34,167,419.31 | |||||||
| 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 | |||||||||
| December | $ | 2,548,246,021.21 | $ | 640,333.21 | 0.301541 | |||||||
| November | $ | 2,649,305,984.43 | $ | 395,077.66 | 0.178950 | |||||||
| October | $ | 2,752,686,727.60 | $ | 468,668.56 | 0.204310 | |||||||
| Three Month Average Loss Rate | 0.228267 | |||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Delinquent | |||||||||
| December | 141,409 | 235 | 0.166185 | |||||||||
| November | 143,520 | 211 | 0.147018 | |||||||||
| October | 145,223 | 226 | 0.155623 | |||||||||
| Three Month Average Delinquency Rate | 0.156275 | |||||||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-2
December 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 | ||
| 7 | 0.67 | ||
| 8 | 1.16 |
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-3
December 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 | $ | 114,400,337.87 | |||||||
| Principal on Repurchased Contracts | 3,884,261.74 | ||||||||
| Schedule and Simple Interest Payments Advanced | 31,585.62 | ||||||||
| Schedule Principal Advanced | 1,022,933.46 | ||||||||
| Total Collections For the Period | $ | 119,339,118.69 | |||||||
| Beginning Pool Aggregate Principal Balance | $ | 3,273,938,308.37 | |||||||
| Ending Pool Aggregate Principal Balance | $ | 3,271,658,344.99 | |||||||
| 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 | $ | 119,339,118.69 | |||||||
| Plus: Reserve Account Draw | — | ||||||||
| Plus: Net Amount Due From Swap Counterparty | — | ||||||||
| Less: Total Servicing Fee | 5,456,563.85 | ||||||||
| Less: Net Amount Due to Swap Counterparty | 1,826,029.85 | ||||||||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 4,167,207.75 | ||||||||
| Less: Reinvestment in New Receivables — Purchase Price | 102,716,586.53 | ||||||||
| Less: Principal Due to Noteholders | — | ||||||||
| Less: Principal Due to Certificateholders | — | ||||||||
| Less: Reserve Account Deposit | 476.89 | ||||||||
| Less: Accumulation Account Deposit | 174,446.70 | ||||||||
| Equals Reserve Fund Excess to be released to CARI | $ | 4,997,807.12 | |||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-3
December 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 | $ | 1,023,215.28 | 1.044097 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 1,023,215.28 | ||||||
| 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 | $ | 552,671.88 | 1.052708 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 552,671.88 | ||||||
| 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 | $ | 502,867.36 | 1.069931 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 502,867.36 | ||||||
| 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 | $ | 113,246.88 | 1.078542 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 113,246.88 | ||||||
| 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 | $ | 39,072.92 | 1.302431 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 39,072.92 | ||||||
| Total Servicing Fee | $ | 5,456,563.85 | 1.653475 | |||||
Part III. Reinvestment in New Receivables | ||||||||
| Principal Distributable Amount | $ | 102,798,022.28 | ||||||
| Plus: Accumulation Amount | 93,010.95 | |||||||
| Equals: Reinvestment Amount | $ | 102,891,033.23 | ||||||
| Additional Receivables Discounted Principal Balance | $ | 102,716,586.53 | ||||||
| Remaining Amount | $ | 174,446.70 | ||||||
| (to be deposited in the Accumulation Account) | ||||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-3
December 2003
Part IV. Payment Ahead and Advances
Payment Ahead Servicing Account | |||||||||
| Beginning Payment Ahead Balance | $ | 4,776,887.35 | |||||||
| Less: Payments Applied | 1,151,290.49 | ||||||||
| Current Period Payments Ahead Received | 2,135,237.91 | ||||||||
| Ending Payment Ahead Balance | $ | 5,760,834.77 | |||||||
Advance Account | |||||||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 3,937,415.23 | |||||||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | 66,729.94 | |||||||
| Scheduled Principal and Interest Advances | 1,054,519.08 | ||||||||
| Simple Interest Advances | |||||||||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 2,398,692.64 | ||||||||
| Reimbursement of Previous Simple Interest Advances | 42,748.87 | ||||||||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 2,593,241.67 | |||||||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | 23,981.07 | |||||||
Part V. Balances & Principal Factors | |||||||||
| Beginning of Period | End of Period | ||||||||
| Total Pool Balance | $ | 3,273,938,308.37 | $ | 3,271,658,344.99 | |||||
| Total Pool Factor | 0.9920847 | 0.9913939 | |||||||
| 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 | |||||||
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2003-3
December 2003
Part VI. Reserve Account
| Per $1000 of | ||||||||
| Original Principal | ||||||||
Beginning Reserve Account Balance | $ | 44,159,620.31 | ||||||
| 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) | 476.89 | |||||||
| Additions to Reserve Account | — | |||||||
| Releases from Reserve Account | — | — | ||||||
| Ending Reserve Account Balance | $ | 44,160,097.20 | ||||||
| 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 | $ | 44,159,362.75 | ||||||
| Reserve Account Balance | $ | 44,159,362.75 | ||||||
| Current Collection Period | ||||||||
| Specified Reserve Account Balance | $ | 44,159,620.31 | ||||||
| Reserve Account Balance | $ | 44,159,620.31 | ||||||
Part VII. Accumulation Account | ||||||||
| Beginning Accumulation Account Balance | $ | 93,010.95 | ||||||
| Accumulation Account Interest | 257.56 | |||||||
| Release of Accumulated Balance | 93,268.51 | |||||||
| Deposit to Accumulation Account | 174,446.70 | |||||||
| Ending Accumulation Account Balance | $ | 174,446.70 | ||||||
| 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 | 0.0059 | % | ||||||
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 | |||||||||
| December | $ | 3,215,153,206.87 | $ | 553,754.42 | 0.206679 | |||||||
| November | $ | 3,228,540,632.67 | $ | 439,033.46 | 0.163182 | |||||||
| October | $ | 3,227,845,740.45 | $ | 328,273.76 | 0.122041 | |||||||
| Three Month Average Loss Rate | 0.163967 | |||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Delinquent | |||||||||
| December | 169,195 | 207 | 0.122344 | |||||||||
| November | 166,349 | 175 | 0.105201 | |||||||||
| October | 162,520 | 172 | 0.105833 | |||||||||
| Three Month Average Delinquency Rate | 0.111126 | |||||||||||
