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EXHIBIT 20.1
MONTHLY SERVICING REPORT
CAPITAL AUTO RECEIVABLES ASSET TRUST 2003-1
FEBRUARY 2003
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ORIGINAL INPUTS
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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
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PART I. COLLECTIONS
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Receipts During the Period $ 110,050,883.51
Principal on Repurchased Contracts 15,472,603.01
Schedule and Simple Interest Payments Advanced 70,812.30
Schedule Principal Advanced 346,987.86
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Total Collections For the Period $ 125,941,286.68
====================
Beginning Pool Aggregate Principal Balance $ 3,303,158,775.82
Ending Pool Aggregate Principal Balance $ 3,304,543,873.37
Beginning Aggregate Discounted Principal Balance $ 3,112,044,888.51
Ending Aggregate Discounted Principal Balance $ 3,112,044,888.51
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PART II. DISTRIBUTIONS TO NOTEHOLDERS AND CERTIFICATEHOLDERS
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Total Collections $ 125,941,286.68
Plus: Reserve Account Draw -
Plus: Net Amount Due From Swap Counterparty -
Less: Total Servicing Fee 5,505,264.63
Less: Net Amount Due to Swap Counterparty 1,479,390.71
Less: Monthly Interest Due to Noteholders & Certificateholders 4,464,081.55
Less: Reinvestment in New Receivables - Purchase Price 106,016,451.91
Less: Principal Due to Noteholders -
Less: Principal Due to Certificateholders -
Less: Reserve Account Deposit 172.51
Less: Accumulation Account Deposit 103,491.89
--------------------
Equals Reserve Fund Excess to be released to CARI $ 8,372,433.49
====================
Page 1
MONTHLY SERVICING REPORT
CAPITAL AUTO RECEIVABLES ASSET TRUST 2003-1
FEBRUARY 2003
-----------------------
PER $1000 OF
ORIGINAL PRINCIPAL
Class A-1a Notes Distributable Amount -----------------------
Monthly Interest $ 601,250.00 1.541667
Monthly Principal - -
-----------------
Distributable Amount $ 601,250.00
=================
Class A-1b Notes Distributable Amount
Monthly Interest $ 818,668.13 1.041563
Monthly Principal - -
-----------------
Distributable Amount $ 818,668.13
=================
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 $ 367,171.88 1.049063
Monthly Principal - -
-----------------
Distributable Amount $ 367,171.88
=================
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 $ 565,785.00 1.071563
Monthly Principal - -
-----------------
Distributable Amount $ 565,785.00
=================
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 $ 164,109.38 1.094063
Monthly Principal - -
-----------------
Distributable Amount $ 164,109.38
=================
Class B Certificates Distributable Amount
Monthly Interest $ 126,763.83 1.356562
Monthly Principal - -
-----------------
Distributable Amount $ 126,763.83
=================
Total Servicing Fee $ 5,505,264.63 1.668238
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PART III. REINVESTMENT IN NEW RECEIVABLES
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Principal Distributable Amount $ 105,914,385.73
Plus: Accumulation Amount 205,558.07
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Equals: Reinvestment Amount $ 106,119,943.80
=================
Additional Receivables Discounted Principal Balance $ 106,016,451.91
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Remaining Amount $ 103,491.89
=================
(to be deposited in the Accumulation Account)
Page 2
MONTHLY SERVICING REPORT
CAPITAL AUTO RECEIVABLES ASSET TRUST 2003-1
FEBRUARY 2003
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PART IV. PAYMENT AHEAD AND ADVANCES
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PAYMENT AHEAD SERVICING ACCOUNT
Beginning Payment Ahead Balance $ 2,154,459.43
Less: Payments Applied 678,303.08
Current Period Payments Ahead Received 379,251.67
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Ending Payment Ahead Balance $ 1,855,408.02
=================
ADVANCE ACCOUNT
Beginning Outstanding Unreimbursed Scheduled Principal and Interest Advances $ 424,069.01
Beginning Outstanding Unreimbursed Simple Interest Advances $ -
Scheduled Principal and Interest Advances 417,800.16
Simple Interest Advances -
Reimbursement of Previous Scheduled Principal and Interest Advances 187,907.72
Reimbursement of Previous Simple Interest Advances -
Ending Outstanding Unreimbursed Scheduled Principal and Interest Advances $ 653,961.45
Ending Outstanding Unreimbursed Simple Interest Advances $ -
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PART V. BALANCES & PRINCIPAL FACTORS
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BEGINNING END
OF PERIOD OF PERIOD
----------------- ------------------
Total Pool Balance $3,303,158,775.82 $ 3,304,543,873.37
Total Pool Factor 1.0000000 1.0000000
Class A-1a Notes Balance $ 390,000,000.00 $ 390,000,000.00
Class A-1a Pool Factor 1.0000000 1.0000000
Class A-1b Notes Balance $ 786,000,000.00 $ 786,000,000.00
Class A-1b Pool Factor 1.0000000 1.0000000
Class A-2a Notes Balance $ 242,000,000.00 $ 242,000,000.00
Class A-2a Pool Factor 1.0000000 1.0000000
Class A-2b Notes Balance $ 350,000,000.00 $ 350,000,000.00
Class A-2b Pool Factor 1.0000000 1.0000000
Class A-3a Notes Balance $ 400,000,000.00 $ 400,000,000.00
Class A-3a Pool Factor 1.0000000 1.0000000
Class A-3b Notes Balance $ 528,000,000.00 $ 528,000,000.00
Class A-3b Pool Factor 1.0000000 1.0000000
Class A-4a Notes Balance $ 172,600,000.00 $ 172,600,000.00
Class A-4a Pool Factor 1.0000000 1.0000000
Class A-4b Notes Balance $ 150,000,000.00 $ 150,000,000.00
Class A-4b Pool Factor 1.0000000 1.0000000
Class B Certificates Balance $ 93,444,888.51 $ 93,444,888.51
Class B Pool Factor 1.0000000 1.0000000
Page 3
MONTHLY SERVICING REPORT
CAPITAL AUTO RECEIVABLES ASSET TRUST 2003-1
FEBRUARY 2003
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PART VI. RESERVE ACCOUNT
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PER $1000 OF
ORIGINAL PRINCIPAL
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Beginning Reserve Account Balance $ 46,681,010.62
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) 172.51 -
Additions to Reserve Account - -
Releases from Reserve Account - -
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Ending Reserve Account Balance $ 46,681,183.13
================= -------------------
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 $ 46,680,673.33
Reserve Account Balance $ 46,680,673.33
CURRENT COLLECTION PERIOD
Specified Reserve Account Balance $ 46,681,010.62
Reserve Account Balance $ 46,681,010.62
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PART VII. ACCUMULATION ACCOUNT
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Beginning Accumulation Account Balance $ 205,558.07
Accumulation Account Interest 337.29
Release of Accumulated Balance 205,895.36
Deposit to Accumulation Account 103,491.89
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Ending Accumulation Account Balance $ 103,491.89
=================
Early Amortization Trigger:
Accumulation Account exceeds 1.00% of the Initial Aggregate Discounted Principal Balance
Accumulation Account as a % of Initial Aggregate Discounted Prinicipal
Balance 0.0033%
<Caption>
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PART VIII. CARRYOVER SHORTFALL
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PER $1000 OF
ORIGINAL PRINCIPAL
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Noteholders' Interest Carryover Shortfall $ - -
Noteholders' Principal Carryover Shortfall $ - -
Certificateholders' Interest Carryover Shortfall $ - -
Certificateholders' Principal Carryover Shortfall $ - -
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PART IX. CHARGE OFF AND DELINQUENCY RATES
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CHARGE OFF RATE AVERAGE RECEIVABLES CREDIT REPURCHASES LOSS RATE
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February $ 3,245,071,999.67 $ 191,337.94 0.070755
January $ 3,195,522,443.59 $ 43,840.59 0.016463
Two Month Average Loss Rate 0.043609
DELINQUENCY RATE TOTAL ACCOUNTS ACCOUNTS OVER 60 % DELINQUENT
---------------------- ---------------- ---------------
February 170,048 248 0.145841
January 162,801 276 0.169532
Two Month Average Delinquency Rate 0.157687
Page 4