EXHIBIT 20
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
March 2004
Original Inputs | ||||
| Total Pool Balance | $ | 2,280,059,731.09 | ||
| Class A-1 Notes Balance | $ | 553,000,000.00 | ||
| Class A-1 Notes Rate | One Month LIBOR+.06 | % | ||
| Class A-2 Notes Balance | $ | 475,000,000.00 | ||
| Class A-2 Notes Rate | 1.400 | % | ||
| Class A-3 Notes Balance | $ | 640,000,000.00 | ||
| Class A-3 Notes Rate | 2.000 | % | ||
| Class A-4 Notes Balance | $ | 303,000,000.00 | ||
| Class A-4 Notes Rate | 2.640 | % | ||
| Class B Certificates Balance | $ | 60,973,326.13 | ||
| Class B Certificates Rate | 2.840 | % | ||
| Reserve Account Deposit | $ | 30,479,599.89 | ||
Part I. Collections | ||||
| Receipts During the Period | $ | 135,088,393.01 | ||
| Principal on Repurchased Contracts | 6,275,920.48 | |||
| Schedule and Simple Payments Advanced | 2,616,162.34 | |||
| Total Collections For the Period | $ | 143,980,475.83 | ||
| Beginning Pool Aggregate Principal Balance | $ | 2,280,059,731.09 | ||
| Ending Pool Aggregate Principal Balance | $ | 2,138,261,166.63 | ||
| Scheduled Principal Collection | $ | 126,093,898.49 | ||
| Beginning Aggregate Discounted Principal Balance | $ | 2,031,973,326.13 | ||
| Ending Aggregate Discounted Principal Balance | $ | 1,912,520,054.54 | ||
Part II. Distributions to Noteholders and Certificateholders | ||||
| Total Collections | $ | 143,980,475.83 | ||
| Plus: Reserve Account Draw | 1,791,799.07 | |||
| Plus: Net Amount Due From Swap Counterparty | — | |||
| Less: Total Servicing Fee | 3,673,429.56 | |||
| Less: Net Amount Due to Swap Counterparty | 40,015.69 | |||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 4,267,830.91 | |||
| Less: Principal Due to Noteholders | 119,453,271.59 | |||
| Less: Principal Due to Certificateholders | — | |||
| Less: Reserve Account Deposit | — | |||
| Equals Reserve Fund Excess to be released to CARI | $ | 18,337,727.15 | ||
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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
March 2004
| Per $1000 of | ||||||||
| Original Principal | ||||||||
| Class A-1 Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 782,341.39 | 1.414722 | |||||
| Monthly Principal | 119,453,271.59 | 216.009533 | ||||||
| Distributable Amount | $ | 120,235,612.98 | ||||||
| Class A-2 Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 794,305.56 | 1.672222 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 794,305.56 | ||||||
| Class A-3 Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 1,528,888.89 | 2.388889 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 1,528,888.89 | ||||||
| Class A-4 Notes Distributable Amount | ||||||||
| Monthly Interest | $ | 955,460.00 | 3.153333 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 955,460.00 | ||||||
| Class B Certificates Distributable Amount | ||||||||
| Monthly Interest | $ | 206,835.07 | 3.392222 | |||||
| Monthly Principal | — | — | ||||||
| Distributable Amount | $ | 206,835.07 | ||||||
| Total Servicing Fee | $ | 3,673,429.56 | 1.611111 | |||||
Part III. Payment Ahead and Advances | ||||||||
Payment Ahead Servicing Account | ||||||||
| Beginning Payment Ahead Balance | $ | 3,106,681.31 | ||||||
| Less: Payments Applied | 1,660,766.06 | |||||||
| Current Period Payments Ahead Received | 1,647,935.43 | |||||||
| Ending Payment Ahead Balance | $ | 3,093,850.68 | ||||||
Advance Account | ||||||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 2,017,441.33 | ||||||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | — | ||||||
| Scheduled Principal and Interest Advances | 2,608,627.16 | |||||||
| Simple Interest Advances | 7,535.18 | |||||||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 2,830,007.05 | |||||||
| Reimbursement of Previous Simple Interest Advances | 7,535.18 | |||||||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 1,796,061.44 | ||||||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | 0.00 | ||||||
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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
March 2004
Part IV. Balances & Principal Factors
| Beginning of Period | End of Period | |||||||
| Total Pool Balance | $ | 2,280,059,731.09 | $ | 2,138,261,166.63 | ||||
| Total Pool Factor | 1.0000000 | 0.9378093 | ||||||
| Class A-1 Notes Balance | $ | 553,000,000.00 | $ | 433,546,728.41 | ||||
| Class A-1 Notes Principal Factor | 1.0000000 | 0.7839905 | ||||||
| Class A-2 Notes Balance | $ | 475,000,000.00 | $ | 475,000,000.00 | ||||
| Class A-2 Notes Principal Factor | 1.0000000 | 1.0000000 | ||||||
| Class A-3 Notes Balance | $ | 640,000,000.00 | $ | 640,000,000.00 | ||||
| Class A-3 Notes Principal Factor | 1.0000000 | 1.0000000 | ||||||
| Class A-4 Notes Balance | $ | 303,000,000.00 | $ | 303,000,000.00 | ||||
| Class A-4 Notes Principal Factor | 1.0000000 | 1.0000000 | ||||||
| Class B Certificates Balance | $ | 60,973,326.13 | $ | 60,973,326.13 | ||||
| Class B Certificates Principal Factor | 1.0000000 | 1.0000000 | ||||||
Part V. Reserve Account
| Per $1000 of | |||||||||
| Original Principal | |||||||||
| Beginning Reserve Account Balance | $ | 30,479,599.89 | |||||||
| 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 | 1,791,799.07 | 58.786830 | |||||||
| Ending Reserve Account Balance | $ | 28,687,800.82 | |||||||
| Reserve Account Floor | $ | 15,239,799.95 | |||||||
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 | ||||||||||
| March | $ | 2,177,279,837.71 | $ | 42,584.99 | 0.023471 | ||||||||
| February | $ | 2,248,179,119.94 | $ | — | 0.000000 | ||||||||
| Two Month Average Loss Rate | 0.011735 | ||||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Deliquent | ||||||||||
| March | 105,849 | 74 | 0.069911 | ||||||||||
| February | 106,925 | 21 | 0.019640 | ||||||||||
| Two Month Average Delinquency Rate | 0.044775 | ||||||||||||
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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
March 2004
Part VIII. Prepayment Rate
| Month | Prepayment Rate | |||
| % | ||||
| 1 | 0.35 | |||
| 2 | 1.03 | |||
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