EXHIBIT 12.1 AMERICREDIT CORP. STATEMENT RE COMPUTATION OF RATIOS (dollars in thousands) SIX MONTHS ENDED YEARS ENDED JUNE 30, DECEMBER 31, -------------------------------------- ---------------------- 1995 1996 1997 1996 1997 ------ ------ ------ ------ ------ COMPUTATION OF EARNINGS: Income before income taxes $10,018 $34,256 $62,925 $28,080 $44,512 Interest expense (none) capitalized) 4,015 13,129 16,312 6,612 12,045 ------- ------- ------- ------- ------- $14,033 $47,385 $79,237 $34,692 $56,557 ======= ======= ======= ======= ======= COMPUTATION OF FIXED CHARGES: Interest expenses $ 4,015 $13,129 $16,312 $ 6,612 $12,045 ------- ------- ------- ------- ------- Total fixed charges $ 4,015 $13,129 $16,312 $ 6,612 $12,045 ======= ======= ======= ======= ======= RATIO OF EARNINGS TO FIXED CHARGES 3.5x 3.6x 4.9x 5.2x 4.7x ---- ---- ---- ---- ----