SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
September 13, 2011
AmeriCredit Automobile Receivables Trust 2011-4
(Exact name of registrant as specified in its charter)
AFS SenSub Corp.
(Exact name of depositor as specified in its charter)
AmeriCredit Financial Services, Inc.
(Exact name of sponsor as specified in its charter)
Delaware | 333-170231-03 | 45-6441596 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
c/o AmeriCredit Financial Services, Inc. Attention: J. Michael May, Esq. 801 Cherry Street, Suite 3500 Fort Worth, Texas |
76102 | |||
(Address of Principal Executive Offices) | (Zip Code) |
Registrants telephone number including area code - (817) 302-7000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. | Other Events. |
AFS SenSub Corp. (AFS SenSub), as depositor, and AmeriCredit Financial Services, Inc., as Sponsor (AmeriCredit), plan to cause AmeriCredit Automobile Receivables Trust 2011-4 (the Trust), a newly formed issuing entity, to issue $164,800,000 Class A-1 0.33907% Asset Backed Notes (the Class A-1 Notes), $295,000,000 Class A-2 0.92% Asset Backed Notes (the Class A-2 Notes), $178,078,000 Class A-3 1.17% Asset Backed Notes (the Class A-3 Notes), $69,231,000 Class B 2.26% Asset Backed Notes (the Class B Notes), $85,942,000 Class C 3.08% Asset Backed Notes (the Class C Notes), $84,509,000 Class D 4.08% Asset Backed Notes (the Class D Notes, and together with the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class B Notes and the Class C Notes, the Publicly Offered Notes), and $22,440,000 Class E 6.53% Asset Backed Notes and an Asset Backed Certificate (the Certificate), on September 20, 2011. The Publicly Offered Notes will be registered under the Registration Statement filed by the Registrant and AFS SenSub Corp. with the Securities and Exchange Commission under the file number 333-170231.
As of August 23, 2011 (the Statistical Calculation Date), the Receivables had the characteristics described in the Prospectus Supplement dated September 8, 2011 (the Prospectus Supplement), and filed with the Commission pursuant to Rule 424(b)(5) of the Act on September 12, 2011. As of September 13, 2011 (the Cutoff Date), the Receivables had the characteristics set forth in Exhibit 99.1.
Item 9.01. | Financial Statements, Pro Forma Financial Information and Exhibits. |
(a) | Not applicable |
(b) | Not applicable |
(c) | Not applicable |
(d) | Exhibits: |
99.1 | Statistical information for the receivables as of the Cutoff Date. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2011-4 | ||
By: | AmeriCredit Financial Services, Inc., as Sponsor | |
By: | /s/ J. Michael May | |
Name: | J. Michael May | |
Title: | Executive Vice President, Chief Legal Officer and Secretary |
Dated: September 15, 2011
3
EXHIBIT INDEX
Exhibit No. |
Description | |
99.1 | Statistical information for the receivables as of the Cutoff Date. |
4
Exhibit 99.1
Composition of the Automobile Loan Contracts as of the Cutoff Date
AMCAR 2011-4 Final Cut
9/13/2011 *
New | Used | Total | ||||||||||
Aggregate Principal Balance (1) |
$ | 443,230,655.28 | $ | 511,684,327.59 | $ | 954,914,982.87 | ||||||
Number of Receivables in Pool |
18,816 | 30,489 | 49,305 | |||||||||
Percent of Pool by Principal Balance |
46.42 | % | 53.58 | % | 100.00 | % | ||||||
Average Principal Balance |
$ | 23,556.05 | $ | 16,782.59 | $ | 19,367.51 | ||||||
Range of Principal Balances |
($ | 327.22 to $79,655.06 | ) | ($ | 279.03 to $59,479.40 | ) | ||||||
Weighted Average APR (1) |
12.06 | % | 16.46 | % | 14.41 | % | ||||||
Range of APRs |
(1.70% to 26.99% | ) | (3.25% to 29.90% | ) | ||||||||
Weighted Average Remaining Term |
68 | 64 | 66 | |||||||||
Range of Remaining Terms |
(3 to 72 months | ) | (3 to 72 months | ) | ||||||||
Weighted Average Original Term |
72 | 69 | 70 | |||||||||
Range of Original Terms |
(24 to 72 months | ) | (24 to 72 months | ) |
(1) | Aggregate Principal Balance includes some portion of accrued interest. As a result, the Weighted Average APR of the Receivables may not be equivalent to the Contracts aggregate yield on the Aggregate Principal Balance. |
Distribution of the Automobile Loan Contracts by Score as of the Cutoff Date
AmeriCredit Score (1) | Percent of Aggregate Principal Balance (2) |
Credit Bureau Score (3) | Percent of Aggregate Principal Balance (2) |
|||||||||||||
<215 | 8.54 | % | ||||||||||||||
215-224 | 12.50 | % | <540 | 26.55 | % | |||||||||||
225-244 | 34.17 | % | 540-599 | 44.61 | % | |||||||||||
245-259 | 24.69 | % | 600-659 | 24.56 | % | |||||||||||
260+ | 20.10 | % | 660+ | 4.28 | % | |||||||||||
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Weighted Average Score |
242 | 573 | ||||||||||||||
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(1) | Proprietary credit score developed and utilized by AmeriCredit to support the credit approval and pricing process. The scale of the proprietary score is not comparable to a credit bureau score. An AmeriCredit score may not be available for a small portion of loans originated under discontinued origination platforms and those accounts will not be included in the AmeriCredit score table above. Since these accounts are not included in the percentages above, the Aggregate Principal Balance of the accounts based on the AmeriCredit score may be less than the total pool. |
(2) | Percentages may not add to 100% because of rounding. |
(3) | A statistically based score (sometimes referred to as FICO score) generated by credit reporting agencies. AmeriCredit utilizes TransUnion, Equifax or Experien credit reports depending on the location of the obligor. Credit Bureau Scores may not be available for some accounts and those accounts are not included in the Credit Bureau Score table above. Since these accounts are not included in the percentages above, the Aggregate Principal Balance of the accounts based on Credit Bureau Score may be less than the total pool. |
Distribution of the Automobile Loan Contracts by APR as of the Cutoff Date
AMCAR 2011-4 Final Cut
9/13/2011 *
APR Range |
Aggregate Principal Balance as of Cutoff Date (1) |
Percent of Aggregate Principal Balance (2) |
Number of Receivables |
Percent of Number of Receivables (2) |
||||||||||||
1.000%-1.999% |
515,164.06 | 0.05 | % | 17 | 0.03 | % | ||||||||||
2.000%-2.999% |
2,043,527.04 | 0.21 | % | 64 | 0.13 | % | ||||||||||
3.000%-3.999% |
5,245,525.67 | 0.55 | % | 166 | 0.34 | % | ||||||||||
4.000%-4.999% |
12,556,815.31 | 1.31 | % | 403 | 0.82 | % | ||||||||||
5.000%-5.999% |
7,047,025.72 | 0.74 | % | 238 | 0.48 | % | ||||||||||
6.000%-6.999% |
28,359,300.71 | 2.97 | % | 1,182 | 2.40 | % | ||||||||||
7.000%-7.999% |
20,321,269.28 | 2.13 | % | 880 | 1.78 | % | ||||||||||
8.000%-8.999% |
45,516,007.10 | 4.77 | % | 2,156 | 4.37 | % | ||||||||||
9.000%-9.999% |
50,456,743.70 | 5.28 | % | 2,489 | 5.05 | % | ||||||||||
10.000%-10.999% |
52,769,216.01 | 5.53 | % | 2,701 | 5.48 | % | ||||||||||
11.000%-11.999% |
85,892,027.17 | 8.99 | % | 3,954 | 8.02 | % | ||||||||||
12.000%-12.999% |
63,145,545.99 | 6.61 | % | 3,352 | 6.80 | % | ||||||||||
13.000%-13.999% |
72,041,537.45 | 7.54 | % | 3,764 | 7.63 | % | ||||||||||
14.000%-14.999% |
82,368,629.02 | 8.63 | % | 4,289 | 8.70 | % | ||||||||||
15.000%-15.999% |
69,401,787.41 | 7.27 | % | 3,667 | 7.44 | % | ||||||||||
16.000%-16.999% |
75,883,609.59 | 7.95 | % | 3,936 | 7.98 | % | ||||||||||
17.000%-17.999% |
62,198,352.01 | 6.51 | % | 3,368 | 6.83 | % | ||||||||||
18.000%-18.999% |
79,547,132.81 | 8.33 | % | 4,293 | 8.71 | % | ||||||||||
19.000%-19.999% |
34,178,159.98 | 3.58 | % | 1,982 | 4.02 | % | ||||||||||
20.000%-20.999% |
37,998,816.99 | 3.98 | % | 2,196 | 4.45 | % | ||||||||||
21.000%-21.999% |
27,545,529.73 | 2.88 | % | 1,677 | 3.40 | % | ||||||||||
22.000%-22.999% |
15,357,716.95 | 1.61 | % | 947 | 1.92 | % | ||||||||||
23.000%-23.999% |
12,648,689.76 | 1.32 | % | 804 | 1.63 | % | ||||||||||
24.000%-24.999% |
8,438,914.33 | 0.88 | % | 553 | 1.12 | % | ||||||||||
25.000%-25.999% |
2,305,526.16 | 0.24 | % | 153 | 0.31 | % | ||||||||||
26.000%-26.999% |
969,055.70 | 0.10 | % | 62 | 0.13 | % | ||||||||||
27.000%-27.999% |
82,177.29 | 0.01 | % | 6 | 0.01 | % | ||||||||||
28.000%-28.999% |
50,069.26 | 0.01 | % | 4 | 0.01 | % | ||||||||||
29.000%-29.999% |
31,110.67 | 0.00 | % | 2 | 0.00 | % | ||||||||||
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TOTAL |
954,914,982.87 | 100.00 | % | 49,305 | 100.00 | % | ||||||||||
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(1) | Aggregate Principal Balances include some portion of accrued interest. Indicated APRs represent APRs on Principal Balance net of such accrued interest. |
(2) | Percentages may not add to 100% because of rounding. |
* | Receivable information is through close of business on date indicated. |
Distribution of the Automobile Loan Contracts by Geographic Location of Obligors of the Cutoff Date
AMCAR 2011-4 Final Cut
9/13/2011 *
State |
Aggregate Principal Balance as of Cutoff Date (1) |
Percent of Aggregate Principal Balance (2) |
Number of Receivables |
Percent of Number of Receivables (2) |
||||||||||||
Alabama |
12,229,271.37 | 1.28 | % | 591 | 1.20 | % | ||||||||||
Alaska |
1,316,809.01 | 0.14 | % | 65 | 0.13 | % | ||||||||||
Arizona |
25,704,513.44 | 2.69 | % | 1,407 | 2.85 | % | ||||||||||
Arkansas |
10,861,968.87 | 1.14 | % | 511 | 1.04 | % | ||||||||||
California |
79,810,908.40 | 8.36 | % | 4,926 | 9.99 | % | ||||||||||
Colorado |
17,182,628.11 | 1.80 | % | 925 | 1.88 | % | ||||||||||
Connecticut |
6,015,193.94 | 0.63 | % | 309 | 0.63 | % | ||||||||||
Delaware |
3,893,597.80 | 0.41 | % | 215 | 0.44 | % | ||||||||||
District of Columbia |
1,337,548.12 | 0.14 | % | 68 | 0.14 | % | ||||||||||
Florida |
92,536,957.65 | 9.69 | % | 5,045 | 10.23 | % | ||||||||||
Georgia |
28,773,480.93 | 3.01 | % | 1,391 | 2.82 | % | ||||||||||
Hawaii |
3,086,986.29 | 0.32 | % | 150 | 0.30 | % | ||||||||||
Idaho |
2,121,374.18 | 0.22 | % | 111 | 0.23 | % | ||||||||||
Illinois |
37,550,578.29 | 3.93 | % | 1,862 | 3.78 | % | ||||||||||
Indiana |
21,587,881.23 | 2.26 | % | 1,099 | 2.23 | % | ||||||||||
Iowa |
6,678,440.45 | 0.70 | % | 353 | 0.72 | % | ||||||||||
Kansas |
4,400,920.44 | 0.46 | % | 238 | 0.48 | % | ||||||||||
Kentucky |
12,210,434.95 | 1.28 | % | 613 | 1.24 | % | ||||||||||
Louisiana |
18,034,076.66 | 1.89 | % | 792 | 1.61 | % | ||||||||||
Maine |
2,938,300.77 | 0.31 | % | 168 | 0.34 | % | ||||||||||
Maryland |
27,828,748.38 | 2.91 | % | 1,334 | 2.71 | % | ||||||||||
Massachusetts |
11,931,413.72 | 1.25 | % | 651 | 1.32 | % | ||||||||||
Michigan |
31,169,469.65 | 3.26 | % | 1,593 | 3.23 | % | ||||||||||
Minnesota |
10,273,105.56 | 1.08 | % | 533 | 1.08 | % | ||||||||||
Mississippi |
9,992,154.65 | 1.05 | % | 478 | 0.97 | % | ||||||||||
Missouri |
15,588,525.26 | 1.63 | % | 855 | 1.73 | % | ||||||||||
Montana |
1,898,975.87 | 0.20 | % | 92 | 0.19 | % | ||||||||||
Nebraska |
3,295,370.97 | 0.35 | % | 168 | 0.34 | % | ||||||||||
Nevada |
6,521,913.48 | 0.68 | % | 417 | 0.85 | % | ||||||||||
New Hampshire |
3,813,700.08 | 0.40 | % | 192 | 0.39 | % | ||||||||||
New Jersey |
23,370,999.07 | 2.45 | % | 1,193 | 2.42 | % | ||||||||||
New Mexico |
11,866,521.16 | 1.24 | % | 545 | 1.11 | % | ||||||||||
New York |
34,184,611.14 | 3.58 | % | 1,786 | 3.62 | % | ||||||||||
North Carolina |
30,016,435.76 | 3.14 | % | 1,599 | 3.24 | % | ||||||||||
North Dakota |
1,121,485.34 | 0.12 | % | 46 | 0.09 | % | ||||||||||
Ohio |
37,904,734.33 | 3.97 | % | 2,030 | 4.12 | % | ||||||||||
Oklahoma |
13,291,863.95 | 1.39 | % | 624 | 1.27 | % | ||||||||||
Oregon |
4,971,411.39 | 0.52 | % | 272 | 0.55 | % | ||||||||||
Pennsylvania |
47,358,622.29 | 4.96 | % | 2,535 | 5.14 | % | ||||||||||
Rhode Island |
1,289,722.66 | 0.14 | % | 78 | 0.16 | % | ||||||||||
South Carolina |
13,482,822.83 | 1.41 | % | 734 | 1.49 | % | ||||||||||
South Dakota |
1,620,828.54 | 0.17 | % | 87 | 0.18 | % | ||||||||||
Tennessee |
15,862,593.06 | 1.66 | % | 785 | 1.59 | % | ||||||||||
Texas |
144,232,958.97 | 15.10 | % | 6,663 | 13.51 | % | ||||||||||
Utah |
3,895,659.65 | 0.41 | % | 181 | 0.37 | % | ||||||||||
Vermont |
1,623,840.36 | 0.17 | % | 78 | 0.16 | % | ||||||||||
Virginia |
21,437,303.60 | 2.24 | % | 1,060 | 2.15 | % | ||||||||||
Washington |
12,680,828.53 | 1.33 | % | 679 | 1.38 | % | ||||||||||
West Virginia |
10,430,677.40 | 1.09 | % | 488 | 0.99 | % | ||||||||||
Wisconsin |
11,059,055.66 | 1.16 | % | 584 | 1.18 | % | ||||||||||
Wyoming |
2,617,149.60 | 0.27 | % | 105 | 0.21 | % | ||||||||||
Other (3) |
9,609.06 | 0.00 | % | 1 | 0.00 | % | ||||||||||
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TOTAL |
$ | 954,914,982.87 | 100.00 | % | 49,305 | 100.00 | % | |||||||||
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(1) | Aggregate Principal Balances include some portion of accrued interest. |
(2) | Percentages may not add to 100% because of rounding. |
(3) | States with aggregate principal balances less than $1,000,000. |
* | Receivable information is through close of business on date indicated. |
Historical Delinquency Experience of the Automobile Loan Contract as of the Cutoff Date
Number of times ever 31 to 60 days delinquent |
Aggregate Principal Balance(1) |
Percent of Aggregate Principal Balance(2) |
Number of Automobile Loan Contracts |
Percent of Number of Automobile Loan Contracts(2) |
||||||||||||
0 |
$ | 910,276,033.96 | 95.33 | % | 44,721 | 90.70 | % | |||||||||
1 |
19,462,889.56 | 2.04 | % | 1,188 | 2.41 | % | ||||||||||
2+ |
25,176,059.35 | 2.64 | % | 3,396 | 6.89 | % | ||||||||||
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Total |
$ | 954,914,982.87 | 100.00 | % | 49,305 | 100.00 | % | |||||||||
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(1) Aggregate Principal Balances include some portion of accrued interest. (2) Percentages may not add to 100% because of rounding. |
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Number of times ever 61 to 90 days delinquent |
||||||||||||||||
0 |
$ | 938,831,760.97 | 98.32 | % | 47,170 | 95.67 | % | |||||||||
1 |
3,641,292.56 | 0.38 | % | 487 | 0.99 | % | ||||||||||
2+ |
12,441,929.34 | 1.30 | % | 1,648 | 3.34 | % | ||||||||||
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Total |
$ | 954,914,982.87 | 100.00 | % | 49,305 | 100.00 | % | |||||||||
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(1) Aggregate Principal Balances include some portion of accrued interest. (2) Percentages may not add to 100% because of rounding. |
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Number of times ever greater than 91 days delinquent |
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0 |
$ | 949,871,178.60 | 99.47 | % | 48,636 | 98.64 | % | |||||||||
1 |
3,090,333.13 | 0.32 | % | 424 | 0.86 | % | ||||||||||
2+ |
1,953,471.14 | 0.20 | % | 245 | 0.50 | % | ||||||||||
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Total |
$ | 954,914,982.87 | 100.00 | % | 49,305 | 100.00 | % | |||||||||
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(1) Aggregate Principal Balances include some portion of accrued interest. (2) Percentages may not add to 100% because of rounding. |
|
AMCAR 2011-4 Final Cut
Distribution of the Automobile Loan Contracts by Manufacturer as of the Cutoff Date
Vehicle Make | Aggregate Principal Balance as of Cutoff Date (1) |
Percent of Aggregate Principal Balance (2) |
Number of Receivables |
Percent of Number of Receivables (2) |
||||||||||||
Buick |
12,430,669.72 | 1.30 | % | 547 | 1.11 | % | ||||||||||
Cadillac |
19,892,310.95 | 2.08 | % | 810 | 1.64 | % | ||||||||||
Chevrolet |
348,257,841.25 | 36.47 | % | 15,760 | 31.96 | % | ||||||||||
Chrysler |
28,767,700.97 | 3.01 | % | 1,824 | 3.70 | % | ||||||||||
Dodge |
69,582,539.09 | 7.29 | % | 3,913 | 7.94 | % | ||||||||||
Ford |
75,454,009.64 | 7.90 | % | 4,370 | 8.86 | % | ||||||||||
GMC |
53,411,322.96 | 5.59 | % | 2,052 | 4.16 | % | ||||||||||
Honda |
20,574,095.99 | 2.15 | % | 1,274 | 2.58 | % | ||||||||||
Hyundai |
25,413,755.45 | 2.66 | % | 1,549 | 3.14 | % | ||||||||||
Jeep |
29,896,239.44 | 3.13 | % | 1,661 | 3.37 | % | ||||||||||
Kia |
52,947,981.91 | 5.54 | % | 2,961 | 6.01 | % | ||||||||||
Mazda |
10,371,705.00 | 1.09 | % | 667 | 1.35 | % | ||||||||||
Mercedes |
10,869,956.46 | 1.14 | % | 465 | 0.94 | % | ||||||||||
Mitsubishi |
14,575,463.46 | 1.53 | % | 786 | 1.59 | % | ||||||||||
Nissan |
51,353,529.15 | 5.38 | % | 2,962 | 6.01 | % | ||||||||||
Pontiac |
13,958,849.57 | 1.46 | % | 1,075 | 2.18 | % | ||||||||||
Toyota |
40,945,254.45 | 4.29 | % | 2,406 | 4.88 | % | ||||||||||
Volkswagen |
10,912,761.09 | 1.14 | % | 628 | 1.27 | % | ||||||||||
Other (3) |
65,298,996.32 | 6.84 | % | 3,595 | 7.29 | % | ||||||||||
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Total |
$ | 954,914,982.87 | 100.00 | % | 49,305 | 100.00 | % | |||||||||
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|
(1) | Aggregate Principal Balances include some portion of accrued interest. |
(2) | Percentages may not add to 100% because of rounding. |
(3) | Aggregate Principal Balance of less than 1% per manufacturer. |
Distribution of the Automobile Loan Contracts by Vehicle Segment as of the Cutoff Date
Vehicle Segment (1) |
Aggregate Principal Balance (2) |
% of Aggregate Principal Balance (3) |
Number of Automobile Loan Contracts |
% of Total Number of Automobile Loan Contracts (3) |
||||||||||||
Full-Size Car |
4,858,077.23 | 0.51 | % | 274 | 0.56 | % | ||||||||||
Full-Size Van/Truck |
153,980,999.72 | 16.13 | % | 6,405 | 12.99 | % | ||||||||||
Full-Size SUV |
66,324,279.30 | 6.95 | % | 2,759 | 5.60 | % | ||||||||||
Mid-Size Car |
269,764,857.23 | 28.25 | % | 14,217 | 28.83 | % | ||||||||||
Mid-Size SUV |
211,008,593.24 | 22.10 | % | 10,875 | 22.06 | % | ||||||||||
Economy/Compact Car |
134,334,254.32 | 14.07 | % | 8,539 | 17.32 | % | ||||||||||
Compact Van/Truck |
42,817,434.20 | 4.48 | % | 2,725 | 5.53 | % | ||||||||||
Sports Car |
71,694,751.32 | 7.51 | % | 3,487 | 7.07 | % | ||||||||||
Segment Unavailable (4) |
131,736.31 | 0.01 | % | 24 | 0.05 | % | ||||||||||
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Total |
$ | 954,914,982.87 | 100.00 | % | 49,305 | 100.00 | % | |||||||||
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|
(1) | Categories reflect consolidated categories based on J.D. Power defined segments. |
(2) | Aggregate Principal Balances include some portion of accrued interest. |
(3) | Percentages may not add up to 100% because of rounding. |
(4) | Vehicle segmentation was not available for certain accounts at the time of the statistic |
Distribution of the Automobile Loan Contracts
by Wholesale LTV as of the Cutoff Date
LTV Distribution(1) |
Pct. Of Total (2)(3) | |||
<100 |
27.08 | % | ||
100-109 |
24.83 | % | ||
110-119 |
24.91 | % | ||
120-129 |
16.06 | % | ||
130-139 |
6.16 | % | ||
140-149 |
0.89 | % | ||
150+ |
0.08 | % | ||
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Total |
100.00 | % | ||
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Weighted Average LTV |
109 | % |
(1) | Wholesale LTV is calculated using the total amount financed, which may include taxes, title fees and ancillary products over the value of the vehicle at the time the vehicle is financed. The vehicle value at origination is determined by using NADA or Kelly Blue Book Trade-In prices for used vehicles or dealer invoice/dealer wholesale price for new vehicles. |
(2) | Wholesale LTV was not available or could not be calculated on certain loans and these loans are not included in the table above. Since these loans are not included in the Wholesale LTV table, the Aggregate Principal Balance may be less than the total statistical pool. |
(3) | Percentages may not add to 100% because of rounding. |