EXHIBIT 20
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
December-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 | $ | 61,407,819.03 | ||
| Principal on Repurchased Contracts | 1,166,587.96 | |||
| Scheduled and Simple Payments Advanced | 893,298.94 | |||
| Total Collections For the Period | $ | 63,467,705.93 | ||
| Beginning Pool Aggregate Principal Balance | $ | 1,564,954,075.10 | ||
| Ending Pool Aggregate Principal Balance | $ | 1,502,244,426.92 | ||
| Scheduled Principal Collections | $ | 55,850,600.67 | ||
| Beginning Aggregate Discounted Principal Balance | $ | 1,418,327,354.39 | ||
| Ending Aggregate Discounted Principal Balance | $ | 1,363,918,111.39 | ||
Part II. Distributions to Noteholders and Certificateholders | ||||
| Total Collections | $ | 63,467,705.93 | ||
| Plus: Reserve Account Draw | 816,138.65 | |||
| Plus: Net Amount due from Swap Counterparty | — | |||
| Less: Total Servicing Fee | 2,608,256.80 | |||
| Less: Net Amount due to Swap Counterparty | — | |||
| Less: Monthly Interest Due to Noteholders & Certificateholders | 2,360,983.24 | |||
| Less: Principal Due to Noteholders | 54,409,243.00 | |||
| Less: Principal Due to Certificateholders | — | |||
| Less: Reserve Account Deposit | — | |||
| Equals Reserve Fund Excess to be released to CARI | $ | 4,905,361.53 | ||
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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
December-2004
| Per $1000 of | ||||||||||
| Original Principal | ||||||||||
| Class A-1 Notes Distributable Amount | 1 Month LIBOR | |||||||||
| Monthly Interest | 2.4025000% | $ | — | — | ||||||
| Monthly Principal | — | — | ||||||||
| Distributable Amount | $ | — | ||||||||
| Class A-2 Notes Distributable Amount | ||||||||||
| Monthly Interest | $ | 483,413.03 | 1.017712 | |||||||
| Monthly Principal | 54,409,243.00 | 114.545775 | ||||||||
| Distributable Amount | $ | 54,892,656.03 | ||||||||
| 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 | $ | 2,608,256.80 | 1.143942 | |||||||
Part III. Payment Ahead and Advances
Payment Ahead Servicing Account | ||||
| Beginning Payment Ahead Balance | $ | 2,242,729.92 | ||
| Less: Payments Applied | 659,920.41 | |||
| Current Period Payments Ahead Received | 560,397.51 | |||
| Ending Payment Ahead Balance | $ | 2,143,207.02 | ||
Advance Account | ||||
| Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 2,403,877.27 | ||
| Beginning Outstanding Unreimbursed Simple Interest Advances | $ | — | ||
| Scheduled Principal and Interest Advances | 883,248.64 | |||
| Simple Interest Advances | 10,050.30 | |||
| Reimbursement of Previous Scheduled Principal and Interest Advances | 781,658.73 | |||
| Reimbursement of Previous Simple Interest Advances | — | |||
| Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances | $ | 2,505,467.18 | ||
| Ending Outstanding Unreimbursed Simple Interest Advances | $ | 10,050.30 | ||
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Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
December-2004
Part IV. Balances & Principal Factors
| Beginning of Period | End of Period | |||||||
| Total Pool Balance | $ | 1,564,954,075.10 | $ | 1,502,244,426.92 | ||||
| Total Pool Factor | 0.6863654 | 0.6588619 | ||||||
| Class A-1 Notes Balance | $ | — | $ | — | ||||
| Class A-1 Notes Principal Factor | — | — | ||||||
| Class A-2 Notes Balance | $ | 414,354,028.26 | $ | 359,944,785.26 | ||||
| Class A-2 Notes Principal Factor | 0.8723243 | 0.7577785 | ||||||
| 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 | $ | 21,274,910.32 | ||||||
| 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 | 816,138.65 | 26.776554 | ||||||
| Ending Reserve Account Balance | $ | 20,458,771.67 | ||||||
| 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 | |||||||||
| December | 1,533,599,251.01 | 303,228.04 | 0.237268 | |||||||||
| November | 1,597,793,089.99 | 243,362.26 | 0.182774 | |||||||||
| October | 1,665,977,352.24 | 424,482.50 | 0.305754 | |||||||||
| Three Month Average Loss Rate | 0.241932 | |||||||||||
| Delinquency Rate | Total Accounts | Accounts over 60 | % Delinquent | |||||||||
| December | 85,965 | 152 | 0.176816 | |||||||||
| November | 89,347 | 137 | 0.153335 | |||||||||
| October | 93,432 | 155 | 0.165896 | |||||||||
| Three Month Average Delinquency Rate | 0.165349 | |||||||||||
Page 3
Monthly Servicing Report
Capital Auto Receivables Asset Trust 2004-1
December-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 | |
| 10 | 0.97 | |
| 11 | 0.98 |
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