EXHIBIT 20
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
October 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 | $ | 68,463,388.71 | ||
| Principal on Repurchased Contracts | 1,696,092.31 | |||
| Scheduled and Simple Payments Advanced | 1,357,163.71 | |||
| Total Collections For the Period | $ | 71,516,644.73 | ||
| Beginning Pool Aggregate Principal Balance | $ | 1,701,322,599.60 | ||
| Ending Pool Aggregate Principal Balance | $ | 1,630,632,104.88 | ||
| Scheduled Principal Collections | $ | 61,142,057.44 | ||
| Beginning Aggregate Discounted Principal Balance | $ | 1,536,890,916.52 | ||
| Ending Aggregate Discounted Principal Balance | $ | 1,475,323,844.14 | ||
Part II. Distributions to Noteholders and Certificateholders | ||||
| Total Collections | $ | 71,516,644.73 | ||
| Plus: Reserve Account Draw | 923,506.09 | |||
| Plus: Net Amount due from Swap Counterparty | 36,166.32 | |||
| Less: Total Servicing Fee | 2,835,537.66 | |||
| Less: Net Amount due to Swap Counterparty | — | |||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 2,527,992.70 | |||
| Less: Principal Due to Noteholders | 61,567,072.39 | |||
| Less: Principal Due to Certificateholders | — | |||
| Less: Reserve Account Deposit | — | |||
| Equals Reserve Fund Excess to be released to CARI | $ | 5,545,714.39 | ||
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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
October 2004
| Per $1000 of | ||||||||||||
| Original Principal | ||||||||||||
| Class A-1 Notes Distributable Amount | 1 Month LIBOR | |||||||||||
| Monthly Interest | 1.8700000% | $ | 96,255.82 | 0.174061 | ||||||||
| Monthly Principal | 57,917,590.39 | 104.733437 | ||||||||||
| Distributable Amount | $ | 58,013,846.21 | ||||||||||
| Class A-2 Notes Distributable Amount | ||||||||||||
| Monthly Interest | $ | 554,166.67 | 1.166667 | |||||||||
| Monthly Principal | 3,649,481.99 | 7.683120 | ||||||||||
| Distributable Amount | $ | 4,203,648.66 | ||||||||||
| Class A-3 Notes Distributable Amount | ||||||||||||
| Monthly Interest | $ | 1,066,666.67 | 1.666667 | |||||||||
| Monthly Principal | — | — | ||||||||||
| Distributable Amount | $ | 1,066,666.67 | ||||||||||
| Class A-4 Notes Distributable Amount | ||||||||||||
| Monthly Interest | $ | 666,600.00 | 2.200000 | |||||||||
| Monthly Principal | — | — | ||||||||||
| Distributable Amount | $ | 666,600.00 | ||||||||||
| Class B Certificates Distributable Amount | ||||||||||||
| Monthly Interest | $ | 144,303.54 | 2.366667 | |||||||||
| Monthly Principal | — | — | ||||||||||
| Distributable Amount | $ | 144,303.54 | ||||||||||
| Total Servicing Fee | $ | 2,835,537.66 | 1.243624 | |||||||||
Part III. Payment Ahead and Advances
Payment Ahead Servicing Account | ||||||||||||
| Beginning Payment Ahead Balance | $ | 2,464,886.73 | ||||||||||
| Less: Payments Applied | 811,254.51 | |||||||||||
| Current Period Payments Ahead Received | 521,314.22 | |||||||||||
| Ending Payment Ahead Balance | $ | 2,174,946.44 | ||||||||||
Advance Account | ||||||||||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 2,438,261.52 | ||||||||||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | — | ||||||||||
| Scheduled Principal and Interest Advances | 1,339,479.55 | |||||||||||
| Simple Interest Advances | 17,684.16 | |||||||||||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 749,045.04 | |||||||||||
| Reimbursement of Previous Simple Interest Advances | — | |||||||||||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 3,028,696.03 | ||||||||||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | 17,684.16 | ||||||||||
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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
October 2004
Part IV. Balances & Principal Factors
| Beginning of Period | End of Period | ||||||||
| Total Pool Balance | $ | 1,701,322,599.60 | $ | 1,630,632,104.88 | |||||
| Total Pool Factor | 0.7461746 | 0.7151708 | |||||||
| Class A-1 Notes Balance | $ | 57,917,590.39 | $ | — | |||||
| Class A-1 Notes Principal Factor | 0.1047334 | — | |||||||
| Class A-2 Notes Balance | $ | 475,000,000.00 | $ | 471,350,518.01 | |||||
| Class A-2 Notes Principal Factor | 1.0000000 | 0.9923169 | |||||||
| 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 | $ | 23,053,363.75 | ||||||
| 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 | 923,506.09 | 30.299154 | ||||||
Ending Reserve Account Balance | $ | 22,129,857.66 | ||||||
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 | |||||||||
| October | 1,665,977,352.24 | 424,482.50 | 0.305754 | |||||||||
| September | 1,736,279,796.97 | 267,770.98 | 0.185065 | |||||||||
| August | 1,806,721,649.68 | 220,690.59 | 0.146580 | |||||||||
| Three Month Average Loss Rate | 0.212466 | |||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Delinquent | |||||||||
| October | 93,432 | 155 | 0.165896 | |||||||||
| September | 97,395 | 161 | 0.165306 | |||||||||
| August | 99,438 | 131 | 0.131740 | |||||||||
| Three Month Average Delinquency Rate | 0.154314 | |||||||||||
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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
October 2004
Part VIII. Prepayment Rate
| Month | Prepayment Rate | |||
| % | ||||
| 1 | 0.35 | |||
| 2 | 1.03 | |||
| 3 | 0.87 | |||
| 4 | 0.99 | |||
| 5 | 0.97 | |||
| 6 | 1.03 | |||
| 7 | 0.95 | |||
| 8 | 0.95 | |||
| 9 | 1.08 | |||
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