<PAGE>
EXHIBIT 99.1
AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2000-D
TERM SHEET
SUBJECT TO REVISION
THE ISSUING TRUST
AmeriCredit Automobile Receivables Trust 2000-D is a Delaware business trust.
The issuing trust will issue the notes and be liable for their payment. The
issuing trust's principal asset will be a pool of auto loans.
SELLER
AFS Funding Corp., or AFS FUNDING, is a Nevada corporation which is a
wholly-owned special-purpose subsidiary of AmeriCredit. AFS Funding will sell
the auto loans to the issuing trust.
SERVICER AND ORIGINATOR
AmeriCredit Financial Services, Inc., or AMERICREDIT, is a Delaware corporation.
AmeriCredit originated the auto loans and will service them on behalf of the
issuing trust.
THE INSURER
Financial Security Assurance Inc., or FINANCIAL SECURITY, is a New York
financial guaranty insurance company. Financial Security will issue a policy,
which will guarantee the payment of timely interest and principal due on the
notes but only as described in the section of the prospectus supplement titled
"THE POLICY."
THE TRUSTEE
The Chase Manhattan Bank, or CHASE, is a New York banking corporation. Chase
will be the trust collateral agent, the indenture trustee and the backup
servicer.
STATISTICAL CALCULATION DATE
o November 6, 2000. This is the date we used in preparing the statistical
information used in this term sheet.
INITIAL CUTOFF DATE
o November 21, 2000. The issuing trust will receive amounts collected on the
auto loans after this date.
CLOSING DATE
o On or about November 29, 2000.
DESCRIPTION OF THE SECURITIES
The issuing trust will issue four classes of its asset backed notes. The notes
are designated as the "CLASS A-1 NOTES," the "CLASS A-2 NOTES," the "CLASS A-3
NOTES" and the "CLASS A-4 NOTES."
Each class of notes will have the initial note principal balances, interest
rates and final scheduled distribution dates listed in the following table:
<TABLE>
<CAPTION>
INITIAL NOTE
PRINCIPAL FINAL SCHEDULED
CLASS BALANCE INTEREST RATE DISTRIBUTION DATE
----- ------------ ------------- -----------------
<S> <C> <C> <C>
A-1 $ 93,000,000 __________% December 2001
A-2 $210,000,000 __________% May 2004
A-3 $102,000,000 __________% February 2005
A-4 $195,000,000 LIBOR +__% September 2007
</TABLE>
LIBOR is the rate for deposits in U.S. dollars for a one-month period which
appears on the Dow Jones Telerate Page 3750 (or similar replacement page) as of
11:00 a.m., London time, on the related LIBOR determination date.
<PAGE>
LIBOR will be determined on the following dates:
o November 27, 2000 for the period from the day of the closing to the first
distribution date; and
o thereafter, the second London business day prior to the prior distribution
date.
The notes will initially be issued in book entry form only, and will be issued
in minimum denominations of $1,000 and multiples of $1,000.
You may hold your notes through DTC in the United States or Clearstream Banking,
societe anonyme, or the Euroclear System in Europe.
The notes will be secured solely by the pool of auto loans and the other assets
of the issuing trust which are described under the section entitled "The Trust
Assets."
DISTRIBUTION DATES
o When AmeriCredit is the servicer:
The distribution date will be the 5th day of each month, subject to the
business day rule set forth below, commencing on January 5, 2001.
o If AmeriCredit is not the servicer:
The distribution date will become the twelfth day of each month.
o Insured distributions:
Financial Security will make payment of any unpaid interest and principal
due on the notes on the twelfth day of each month. Financial Security will
also make payment of any unpaid interest and principal due on the Class
A-1 Notes on December 5, 2001, their final scheduled distribution date.
o Business day rule:
If any scheduled date for a distribution is not a business day, then the
distribution will be made on the next business day.
o Record dates:
The record date for all distribution dates is the close of business on the
business day immediately preceding that distribution date.
INTEREST
Interest on the notes of each class will accrue at the interest rate for that
class from a distribution date to the day before the next distribution date. In
the case of the first distribution date, interest begins to accrue on the day of
the closing.
Interest on the Class A-1 Notes and the Class A-4 Notes will be calculated on an
"actual/360" basis.
Interest on the Class A-2 Notes and the Class A-3 Notes will be calculated on a
"30/360" basis.
PRINCIPAL
o Principal of the notes will be payable on each distribution date in an
amount equal to
(1) 100% of the principal amortization which occurred in the auto loan
pool during the prior calendar month, plus
(2) the amount of excess INTEREST collected on the auto loans during
the prior calendar month, after paying interest on the notes and
other expenses, which will be used to pay PRINCIPAL on the notes on
that distribution date, but only as necessary to build or maintain
an amount of over-collateralization required by Financial Security.
2
<PAGE>
In addition, the outstanding principal amount of the notes of any class,
if not previously paid, will be payable on the final scheduled
distribution date for that class.
o The classes of notes are "sequential pay" classes which will receive the
amount to be paid as principal to the noteholders on each distribution
date as follows:
- first, the Class A-1 Notes will be paid off;
- once the Class A-1 Notes are paid off, the Class A-2 Notes will begin
to amortize, until they are paid off;
- once the Class A-2 Notes are paid off, the Class A-3 Notes will begin
to amortize, until they are paid off; and
- once the Class A-3 Notes are paid off, the Class A-4 Notes will begin
to amortize, until they are paid off.
THE TRUST ASSETS
The issuing trust's assets will principally include:
o a pool of auto loans, which are secured by new and used automobiles, light
duty trucks and vans;
o collections on the auto loans received after November 21, 2000;
o an assignment of the security interests in the vehicles securing
the auto loan pool; and
o the pre-funding account.
THE AUTO LOAN POOL
The auto loans consist of motor vehicle retail installment sale contracts
originated by dealers and then acquired by AmeriCredit. The auto loans were made
primarily to individuals with less than perfect credit due to various factors,
including the manner in which those individuals have handled previous credit,
the limited extent of their prior credit history, and limited financial
resources.
STATISTICAL INFORMATION
The statistical information in this term sheet is based on the auto loans in the
pool as of November 6, 2000. The statistical distribution of the characteristics
of the auto loan pool as of the initial cutoff date, which is November 21, 2000,
will vary somewhat from the statistical distribution of those characteristics as
of November 6, 2000, although that variance will not be material.
o As of November 6, 2000 the auto loans in the pool have:
- an aggregate principal balance of $299,998,950.74;
- a weighted average annual percentage rate of approximately 19.30%;
- a weighted average original maturity of approximately 62 months;
- a weighted average remaining maturity of approximately 61 months; and
- an individual remaining term of not more than 72 months and not less
than 7 months.
o As of November 21, 2000 the auto loans in the pool are expected to have an
aggregate principal balance of approximately $300,000,000.
PRE-FUNDING FEATURE
Approximately $300,000,000 of the proceeds of the notes will be held by Chase in
a pre-funding account, and will be used to purchase additional auto loans from
AFS Funding. The issuing trust will purchase the additional auto loans from time
to time on or before January 31, 2001, from funds on deposit in this account.
3
<PAGE>
These additional auto loans will also have been originated by AmeriCredit, and
will not be materially different from the auto loans acquired by the issuing
trust on the day of the closing.
THE INSURANCE POLICY
On the day of the closing, Financial Security will issue a financial guaranty
insurance policy for the benefit of the noteholders. Under this policy,
Financial Security will unconditionally and irrevocably guarantee the payments
of interest and principal due on the notes during the term of the policy.
If, on any distribution date, the noteholders do not receive the full amount of
the payment then due to them, the shortfall will be paid on the twelfth day of
that month either from funds available from a spread account or from the
proceeds of a drawing under the policy.
OPTIONAL REDEMPTION
The Class A-4 Notes, if still outstanding, may be redeemed in whole, but not in
part, on any distribution date on which AmeriCredit exercises its "clean-up
call" option to purchase the auto loan pool. This can only occur after the pool
balance declines to 10% or less of its original balance. The redemption price is
equal to the unpaid principal amount of the notes of each class then outstanding
plus accrued and unpaid interest.
MANDATORY REDEMPTION
o Each class of notes will be redeemed in part in the event that any
pre-funding account moneys remain unused on January 31, 2001. The
principal amount of each class of notes to be redeemed will be an amount
equal to that class's PRO RATA share of the remaining amount.
o The notes may be accelerated and subject to immediate payment at par upon
the occurrence of an event of default under the indenture. So long as
Financial Security is not in default, the power to declare an event of
default will be held by Financial Security. In the case of an event of
default, the notes will automatically be accelerated and subject to
immediate payment at par. The policy issued by Financial Security does not
guarantee payment of any amounts that become due on an accelerated basis,
unless Financial Security elects, in its sole discretion, to pay those
amounts.
FEDERAL INCOME TAX CONSEQUENCES
For federal income tax purposes:
o Dewey Ballantine LLP, special tax counsel, is of the opinion that the
notes will be treated as debt and the issuing trust will not be treated as
an association or publicly traded partnership taxable as a corporation. By
your acceptance of a note, you agree to treat the notes as debt.
o Interest on the notes will be taxable as ordinary income
- when received by a holder using the cash method of accounting, and
- when accrued by a holder using the accrual method of accounting.
o Dewey Ballantine LLP has prepared the discussion under "MATERIAL FEDERAL
INCOME TAX CONSEQUENCES" in the prospectus supplement and "MATERIAL TAX
CONSIDERATIONS" in the prospectus and is of the opinion that the
discussion accurately states all material federal income tax consequences
of the purchase, ownership and disposition of the notes to their original
purchaser.
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ERISA CONSIDERATIONS
Subject to the important considerations described under "ERISA CONSIDERATIONS"
in the prospectus supplement, pension, profit-sharing and other employee benefit
plans may purchase notes. You may wish to consult with your counsel regarding
the applicability of the provisions of ERISA before purchasing a note.
LEGAL INVESTMENT
The Class A-1 Notes will be eligible securities for purchase by money market
funds under Rule 2a-7 of the Investment Company Act of 1940, as amended.
RATING OF THE NOTES
The notes must receive at least the following ratings from Standard
& Poor's, a division of the McGraw-Hill Companies, Inc. and Moody's
Investors Service, Inc. in order to be issued:
<TABLE>
<CAPTION>
CLASS RATING
-------- ---------------------
S&P MOODY'S
---------- ----------
<S> <C> <C>
A-1 A-1+ P-1
A-2 AAA Aaa
A-3 AAA Aaa
A-4 AAA Aaa
</TABLE>
5
<PAGE>
The initial automobile loan pool's composition, distribution by APR and its
geographic concentration as of the statistical calculation date are detailed in
the following tables:
COMPOSITION OF THE INITIAL AUTOMOBILE LOANS
AS OF THE STATISTICAL CALCULATION DATE
<TABLE>
<CAPTION>
NEW USED TOTAL
---------------------- --------------------- ----------------------
<S> <C> <C> <C>
Aggregate Principal Balance(1) $96,692,298.81 $203,306,651.93 $299,998,950.74
Number of Automobile Loans 5,411 14,501 19,912
Percent of Aggregate Principal Balance 32.23% 67.77% 100.00%
Average Principal Balance $17,869.58 $14,020.18 $15,066.24
RANGE OF PRINCIPAL BALANCES ($4,086.47 TO $47,881.78) ($250.98 TO $47,978.34) ($250.98 TO $47,978.34)
Weighted Average APR(1) 18.00% 19.91% 19.30%
RANGE OF APRS (10.77% TO 27.50%) (11.95% TO 29.99%) (10.77% TO 29.99%)
Weighted Average Remaining Term 64 60 61
RANGE OF REMAINING TERMS (14 TO 72 MONTHS) (7 TO 72 MONTHS) (7 TO 72 MONTHS)
Weighted Average Original Term 65 60 62
RANGE OF ORIGINAL TERMS (36 TO 72 MONTHS) (12 TO 72 MONTHS) (12 TO 72 MONTHS)
</TABLE>
-------------------------
(1) Aggregate principal balance includes some portion of accrued interest. As
a result, the weighted average APR of the automobile loans may not be
equivalent to the automobile loans' aggregate yield on the aggregate
principal balance.
6
<PAGE>
DISTRIBUTION OF THE INITIAL AUTOMOBILE LOANS BY APR
AS OF THE STATISTICAL CALCULATION DATE
<TABLE>
<CAPTION>
DISTRIBUTION OF THE
INITIAL AUTOMOBILE LOANS
BY APR AS OF THE
STATISTICAL CALCULATION AGGREGATE PRINCIPAL % OF AGGREGATE NUMBER OF AUTOMOBILE % OF TOTAL NUMBER OF
DATE BALANCE(1) PRINCIPAL BALANCE(2) LOANS AUTOMOBILE LOANS(2)
------------------------ ------------------- -------------------- -------------------- ---------------------
<S> <C> <C> <C> <C>
10.000 to 10.999 $ 23,352.43 0.01% 1 0.01%
11.000 to 11.999 16,815.48 0.01 1 0.01
12.000 to 12.999 6,474,831.50 2.16 366 1.84
13.000 to 13.999 3,607,295.57 1.20 182 0.91
14.000 to 14.999 8,368,445.26 2.79 441 2.21
15.000 to 15.999 9,967,810.40 3.32 523 2.63
16.000 to 16.999 28,204,104.53 9.40 1,569 7.88
17.000 to 17.999 64,988,115.04 21.66 3,952 19.85
18.000 to 18.999 33,865,013.03 11.29 2,185 10.97
19.000 to 19.999 25,571,343.58 8.52 1,651 8.29
20.000 to 20.999 37,025,626.02 12.34 2,649 13.30
21.000 to 21.999 35,083,198.82 11.69 2,547 12.79
22.000 to 22.999 19,887,158.71 6.63 1,505 7.56
23.000 to 23.999 18,605,472.94 6.20 1,537 7.72
24.000 to 24.999 6,880,893.13 2.29 660 3.31
25.000 to 25.999 1,072,133.76 0.36 106 0.53
26.000 to 26.999 209,413.58 0.07 21 0.11
27.000 to 27.999 56,701.71 0.02 6 0.03
28.000 to 28.999 48,681.41 0.02 5 0.03
29.000 to 29.999 42,543.84 0.01 5 0.03
------------------ ------ ------ ------
TOTAL: $ 299,998,950.74 100.00% 19,912 100.00%
================== ====== ====== ======
</TABLE>
----------
(1) Aggregate principal balances include some portion of accrued interest.
(2) Percentages may not add to 100% because of rounding.
7
<PAGE>
DISTRIBUTION OF THE INITIAL AUTOMOBILE LOANS BY GEOGRAPHIC LOCATION
OF OBLIGOR AS OF THE STATISTICAL CALCULATION DATE
<TABLE>
<CAPTION>
AGGREGATE PRINCIPAL % OF AGGREGATE NUMBER OF % OF TOTAL NUMBER OF
STATE BALANCE(1) PRINCIPAL BALANCE(2) AUTOMOBILE LOANS AUTOMOBILE LOANS(2)
-------------------- -------------------- -------------------- ---------------- ---------------------
<S> <C> <C> <C> <C>
Alabama $ 5,010,300.08 1.67% 334 1.68%
Arizona 10,299,978.67 3.43 694 3.49
California 36,643,546.92 12.21 2,287 11.49
Colorado 4,307,266.95 1.44 285 1.43
Connecticut 3,325,662.71 1.11 228 1.15
Delaware 1,371,986.73 0.46 95 0.48
Florida 26,689,085.29 8.90 1,785 8.96
Georgia 11,036,933.43 3.68 681 3.42
Illinois 12,134,577.19 4.04 794 3.99
Indiana 5,333,877.57 1.78 376 1.89
Iowa 1,409,518.71 0.47 98 0.49
Kansas 1,898,239.63 0.63 130 0.65
Kentucky 3,625,788.36 1.21 263 1.32
Louisiana 5,672,147.23 1.89 380 1.91
Maryland 5,861,595.27 1.95 373 1.87
Massachusetts 4,781,954.28 1.59 350 1.76
Michigan 10,066,350.71 3.36 672 3.37
Minnesota 4,155,533.47 1.39 280 1.41
Mississippi 2,030,477.61 0.68 126 0.63
Missouri 4,417,649.71 1.47 302 1.52
Nevada 3,979,605.37 1.33 256 1.29
New Hampshire 1,059,005.68 0.35 86 0.43
New Jersey 8,345,020.78 2.78 591 2.97
New Mexico 1,680,668.96 0.56 124 0.62
New York 13,074,961.48 4.36 909 4.57
North Carolina 7,369,730.60 2.46 489 2.46
Ohio 13,166,287.53 4.39 920 4.62
Oklahoma 2,555,174.89 0.85 168 0.84
Oregon 1,131,354.75 0.38 85 0.43
Pennsylvania 15,310,523.28 5.10 1,082 5.43
Rhode Island 1,027,948.01 0.34 72 0.36
South Carolina 3,005,986.36 1.00 190 0.95
Tennessee 5,204,677.68 1.73 355 1.78
Texas 39,572,178.71 13.19 2,426 12.18
Utah 1,382,368.03 0.46 96 0.48
Virginia 6,889,802.79 2.30 448 2.25
Washington 4,953,906.91 1.65 340 1.71
West Virginia 1,961,835.56 0.65 144 0.72
Wisconsin 4,602,048.66 1.53 317 1.59
Other(3) 3,653,394.19 1.22 281 1.41
------------------ ------ ------ ------
TOTAL: $ 299,998,950.74 100.00% 19,912 100.00%
================== ====== ====== ======
</TABLE>
----------
(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.
8
<PAGE>
YIELD AND PREPAYMENT CONSIDERATIONS
Prepayments can be made on any of the auto loans at any time. If
prepayments are received on the auto loans, their actual weighted average life
may be shorter than their weighted average life would be if all payments were
made as scheduled and no prepayments were made. Prepayments on the auto loans
may include moneys received from liquidations due to default and proceeds from
credit life, credit disability, and casualty insurance policies. Weighted
average life means the average amount of time during which any principal is
outstanding on an auto loan.
The rate of prepayments on the auto loans may be influenced by a variety
of economic, social, and other factors, including the fact that no borrower
under an auto loan may sell or transfer that auto loan without the consent of
AmeriCredit. AmeriCredit believes that the weighted average life of the auto
loans will be substantially shorter than their scheduled weighted average life.
This opinion is based primarily on AmeriCredit's assessment of what the actual
rate of prepayments will be. Any risk resulting from faster or slower
prepayments of the auto loans will be borne solely by the noteholders.
The rate of payment of principal of the notes will depend on the rate of
payment, and the rate of prepayments, of principal on the auto loans. It is
possible that the final payment on any class of notes could occur significantly
earlier than the date on which the final distribution for that class of notes is
scheduled to be paid. Any risk resulting from early payment of the notes will be
borne solely by the noteholders.
Prepayments on auto loans can be measured against prepayment standards or
models. The model used in this term sheet, the Absolute Prepayment Model, or
ABS, assumes a rate of prepayment each month which is related to the original
number of auto loans in a pool of loans. ABS also assumes that all of the auto
loans in a pool are the same size, that all of those auto loans amortize at the
same rate, and that for every month that any individual auto loan is
outstanding, payments on that particular auto loan will either be made as
scheduled or the auto loan will be prepaid in full. For example, in a pool of
receivables originally containing 10,000 auto loans, if a 1% ABS were used, that
would mean that 100 auto loans would prepay in full each month. The percentage
of prepayments that is assumed for ABS is not an historical description of
prepayment experience on pools of auto loans or a prediction of the anticipated
rate of prepayment on either the pool of auto loans involved in this transaction
or on any pool of auto loans. You should not assume that the actual rate of
prepayments on the auto loans will be in any way related to the percentage of
prepayments that we assume for ABS.
The tables below which are captioned "Percent of Initial Note Principal
Balance at Various ABS Percentages" are based on ABS and were prepared using the
following assumptions:
o the issuing trust includes two pools of auto loans with the
characteristics set forth in the following table;
o all prepayments on the auto loans each month are made in full at the
specified constant percentage of ABS and there are no defaults,
losses or repurchases;
o each scheduled monthly payment on the auto loans is made on the last
day of each month and each month has 30 days;
9
<PAGE>
o the initial principal amounts of each class of notes are equal to
the initial principal amounts set forth on page 1 of this term
sheet;
o interest accrues on the notes at the following assumed coupon rates:
Class A-1 Notes, 6.72%; Class A-2 Notes, 6.74%; Class A-3 Notes,
6.80%; and Class A-4 Notes, 6.85%;
o payments on the notes are made on the fifth day of each month;
o the notes are purchased on November 29, 2000;
o the scheduled monthly payment for each auto loan was calculated on
the basis of the characteristics described in the following table
and in such a way that each auto loan would amortize in a manner
that will be sufficient to repay the principal balance of that auto
loan by its indicated remaining term to maturity;
o the first due date for each auto loan is the last day of the month
of the assumed cutoff date for that auto loan as set forth in the
following table;
o all of the pre-funding account money is used to purchase additional
auto loans;
o AmeriCredit exercises its "clean-up call" option to purchase the
auto loans at the earliest opportunity;
o accelerated principal will be paid on each class of the notes on
each distribution date until the first distribution date on which
the over-collateralization required by Financial Security is
achieved; and
o the difference between the gross APR and the net APR is equal to the
base servicing fee due to the servicer, and the net APR is further
reduced by the fees due to Chase, the owner trustee and Financial
Security.
<TABLE>
<CAPTION>
REMAINING
TERM TO
AGGREGATE ASSUMED CUTOFF MATURITY SEASONING
POOL PRINCIPAL BALANCE GROSS APR DATE (IN MONTHS) (IN MONTHS)
------------ ----------------- --------- -------------- ----------- -----------
<S> <C> <C> <C> <C> <C>
1 $300,000,000 19.30% 12/1/2000 61 1
2 $300,000,000 19.30% 1/1/2001 62 0
---------------
Total $600,000,000
===============
</TABLE>
The following tables were created relying on the assumptions listed above.
The tables indicate the percentages of the initial principal amount of each
class of notes that would be outstanding after each of the listed distribution
dates if certain percentages of ABS are assumed. The tables also indicate the
corresponding weighted average lives of each class of notes if the same
percentages of ABS are assumed.
The assumptions used to construct the tables are hypothetical and have
been provided only to give a general sense of how the principal cash flows might
behave under various prepayment scenarios. The actual characteristics and
performance of the auto loans will differ from the assumptions used to construct
the tables. For example, it is very unlikely that the auto loans will prepay at
a constant level of ABS until maturity or that all of the auto loans will prepay
at the same level of ABS. Moreover, the auto loans have diverse terms and that
fact
10
<PAGE>
alone could produce slower or faster principal distributions than indicated in
the tables at the various constant percentages of ABS, even if the original and
remaining terms to maturity of the auto loans are as assumed. Any difference
between the assumptions used to construct the tables and the actual
characteristics and performance of the auto loans, including actual prepayment
experience or losses, will affect the percentages of initial balances
outstanding on any given date and the weighted average lives of each class of
notes.
The percentages in the tables have been rounded to the nearest whole
number. As used in the tables which follow, the WEIGHTED AVERAGE LIFE of a class
of notes is determined by:
o multiplying the amount of each principal payment on a note by the
number of years from the date of the issuance of the note to the
related distribution date,
o adding the results, and
o dividing the sum by the related initial principal amount of the
note.
11
<PAGE>
PERCENT OF INITIAL NOTE PRINCIPAL BALANCE
AT VARIOUS ABS PERCENTAGES
<TABLE>
<CAPTION>
CLASS A-1 NOTES CLASS A-2 NOTES
-------------------------- ----------------------------
DISTRIBUTION DATE 0.00% 1.00% 1.70% 2.50% 0.00% 1.00% 1.70% 2.50%
------------------ ----- ----- ----- ----- ----- ----- ----- ------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Closing Date 100 100 100 100 100 100 100 100
05-Jan-01 96 93 91 88 100 100 100 100
05-Feb-01 85 75 68 61 100 100 100 100
05-Mar-01 73 57 46 33 100 100 100 100
05-Apr-01 61 40 24 7 100 100 100 100
05-May-01 50 22 3 0 100 100 100 91
05-Jun-01 38 5 0 0 100 100 92 80
05-Jul-01 26 0 0 0 100 94 82 68
05-Aug-01 14 0 0 0 100 87 73 57
05-Sep-01 2 0 0 0 100 79 64 46
05-Oct-01 0 0 0 0 95 72 55 37
05-Nov-01 0 0 0 0 90 66 48 29
05-Dec-01 0 0 0 0 87 61 42 21
05-Jan-02 0 0 0 0 84 56 36 13
05-Feb-02 0 0 0 0 81 51 30 5
05-Mar-02 0 0 0 0 78 46 23 0
05-Apr-02 0 0 0 0 75 41 17 0
05-May-02 0 0 0 0 72 36 11 0
05-Jun-02 0 0 0 0 68 31 5 0
05-Jul-02 0 0 0 0 65 27 0 0
05-Aug-02 0 0 0 0 62 22 0 0
05-Sep-02 0 0 0 0 58 17 0 0
05-Oct-02 0 0 0 0 55 12 0 0
05-Nov-02 0 0 0 0 51 8 0 0
05-Dec-02 0 0 0 0 48 3 0 0
05-Jan-03 0 0 0 0 44 0 0 0
05-Feb-03 0 0 0 0 40 0 0 0
05-Mar-03 0 0 0 0 36 0 0 0
05-Apr-03 0 0 0 0 33 0 0 0
05-May-03 0 0 0 0 29 0 0 0
05-Jun-03 0 0 0 0 25 0 0 0
05-Jul-03 0 0 0 0 21 0 0 0
05-Aug-03 0 0 0 0 17 0 0 0
05-Sep-03 0 0 0 0 13 0 0 0
05-Oct-03 0 0 0 0 8 0 0 0
05-Nov-03 0 0 0 0 4 0 0 0
05-Dec-03 0 0 0 0 0 0 0 0
05-Jan-04 0 0 0 0 0 0 0 0
05-Feb-04 0 0 0 0 0 0 0 0
05-Mar-04 0 0 0 0 0 0 0 0
05-Apr-04 0 0 0 0 0 0 0 0
05-May-04 0 0 0 0 0 0 0 0
05-Jun-04 0 0 0 0 0 0 0 0
05-Jul-04 0 0 0 0 0 0 0 0
05-Aug-04 0 0 0 0 0 0 0 0
05-Sep-04 0 0 0 0 0 0 0 0
05-Oct-04 0 0 0 0 0 0 0 0
05-Nov-04 0 0 0 0 0 0 0 0
05-Dec-04 0 0 0 0 0 0 0 0
05-Jan-05 0 0 0 0 0 0 0 0
05-Feb-05 0 0 0 0 0 0 0 0
05-Mar-05 0 0 0 0 0 0 0 0
05-Apr-05 0 0 0 0 0 0 0 0
05-May-05 0 0 0 0 0 0 0 0
05-Jun-05 0 0 0 0 0 0 0 0
05-Jul-05 0 0 0 0 0 0 0 0
05-Aug-05 0 0 0 0 0 0 0 0
05-Sep-05 0 0 0 0 0 0 0 0
05-Oct-05 0 0 0 0 0 0 0 0
Weighted Average
Life (years) 0.47 0.34 0.29 0.26 1.97 1.27 1.00 0.81
</TABLE>
12
<PAGE>
PERCENT OF INITIAL NOTE PRINCIPAL BALANCE
AT VARIOUS ABS PERCENTAGES
<TABLE>
<CAPTION>
CLASS A-3 NOTES CLASS A-4 NOTES
-------------------------- ----------------------------
DISTRIBUTION DATE 0.00% 1.00% 1.70% 2.50% 0.00% 1.00% 1.70% 2.50%
------------------ ----- ----- ----- ----- ----- ----- ----- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Closing Date 100 100 100 100 100 100 100 100
05-Jan-01 100 100 100 100 100 100 100 100
05-Feb-01 100 100 100 100 100 100 100 100
05-Mar-01 100 100 100 100 100 100 100 100
05-Apr-01 100 100 100 100 100 100 100 100
05-May-01 100 100 100 100 100 100 100 100
05-Jun-01 100 100 100 100 100 100 100 100
05-Jul-01 100 100 100 100 100 100 100 100
05-Aug-01 100 100 100 100 100 100 100 100
05-Sep-01 100 100 100 100 100 100 100 100
05-Oct-01 100 100 100 100 100 100 100 100
05-Nov-01 100 100 100 100 100 100 100 100
05-Dec-01 100 100 100 100 100 100 100 100
05-Jan-02 100 100 100 100 100 100 100 100
05-Feb-02 100 100 100 100 100 100 100 100
05-Mar-02 100 100 100 95 100 100 100 100
05-Apr-02 100 100 100 79 100 100 100 100
05-May-02 100 100 100 64 100 100 100 100
05-Jun-02 100 100 100 49 100 100 100 100
05-Jul-02 100 100 99 35 100 100 100 100
05-Aug-02 100 100 87 21 100 100 100 100
05-Sep-02 100 100 75 7 100 100 100 100
05-Oct-02 100 100 64 0 100 100 100 96
05-Nov-02 100 100 52 0 100 100 100 89
05-Dec-02 100 100 41 0 100 100 100 82
05-Jan-03 100 97 30 0 100 100 100 76
05-Feb-03 100 87 19 0 100 100 100 69
05-Mar-03 100 78 9 0 100 100 100 63
05-Apr-03 100 68 0 0 100 100 99 57
05-May-03 100 59 0 0 100 100 94 51
05-Jun-03 100 50 0 0 100 100 89 45
05-Jul-03 100 40 0 0 100 100 83 40
05-Aug-03 100 31 0 0 100 100 78 35
05-Sep-03 100 22 0 0 100 100 73 29
05-Oct-03 100 13 0 0 100 100 69 0
05-Nov-03 100 5 0 0 100 100 64 0
05-Dec-03 99 0 0 0 100 98 60 0
05-Jan-04 90 0 0 0 100 93 55 0
05-Feb-04 81 0 0 0 100 89 51 0
05-Mar-04 72 0 0 0 100 84 47 0
05-Apr-04 62 0 0 0 100 80 43 0
05-May-04 52 0 0 0 100 76 39 0
05-Jun-04 43 0 0 0 100 71 35 0
05-Jul-04 33 0 0 0 100 67 32 0
05-Aug-04 22 0 0 0 100 63 28 0
05-Sep-04 12 0 0 0 100 59 0 0
05-Oct-04 2 0 0 0 100 55 0 0
05-Nov-04 0 0 0 0 95 51 0 0
05-Dec-04 0 0 0 0 90 47 0 0
05-Jan-05 0 0 0 0 84 43 0 0
05-Feb-05 0 0 0 0 78 39 0 0
05-Mar-05 0 0 0 0 72 36 0 0
05-Apr-05 0 0 0 0 66 32 0 0
05-May-05 0 0 0 0 60 28 0 0
05-Jun-05 0 0 0 0 54 0 0 0
05-Jul-05 0 0 0 0 47 0 0 0
05-Aug-05 0 0 0 0 41 0 0 0
05-Sep-05 0 0 0 0 34 0 0 0
05-Oct-05 0 0 0 0 0 0 0 0
Weighted Average
Life (years) 3.49 2.56 2.00 1.56 4.53 3.94 3.22 2.46
</TABLE>
13
<PAGE>
DELINQUENCY AND LOAN LOSS INFORMATION
The following tables provide information relating to AmeriCredit's
delinquency and loan loss experience for each period indicated with respect to
all automobile loans it has purchased and serviced. This information includes
the experience with respect to all automobile loans in AmeriCredit's portfolio
of automobile loans serviced during each listed period, including automobile
loans which do not meet the criteria for selection as an automobile loan.
DELINQUENCY EXPERIENCE
Bankrupt accounts which have not yet been charged off are included as delinquent
accounts in the table below.
<TABLE>
<CAPTION>
AT JUNE 30,
-------------------------------------------------------------------------------------------
2000 1999 1998
-------------------------------------------------------------------------------------------
NUMBER OF NUMBER OF NUMBER OF
CONTRACTS AMOUNT CONTRACTS AMOUNT CONTRACTS AMOUNT
---------- ------ --------- ------ --------- ------
<S> <C> <C> <C> <C> <C> <C>
Portfolio at end of
period(1) 568,099 $6,649,981 366,262 $4,105,468 213,549 $2,302,516
Period of
Delinquency(2)
31-60 days(3) 39,793 $ 445,797 25,423 $ 277,592 12,259 $ 126,012
61-90 days 9,944 110,521 5,230 53,487 2,545 25,847
91 days or more 3,878 40,103 2,007 20,026 3,891 33,328
---------- ---------- ---------- ---------- ---------- ----------
Total Delinquencies 53,615 $ 596,421 32,660 $ 351,105 18,695 $ 185,187
Repossessed Assets 3,723 42,764 3,207 37,773 1,732 18,818
---------- ---------- ---------- ---------- ---------- ----------
Total Delinquencies
and Repossessed
Assets 57,338 639,185 35,867 388,878 20,427 204,005
========== ========== ========== ========== ========== ==========
Total Delinquencies as
a Percentage of the
Portfolio 9.4% 9.0% 8.9% 8.6% 8.8% 8.1%
Total Repossessed
Assets as a
Percentage of the
Portfolio 0.7% 0.6% 0.9% 0.9% 0.8% 0.9%
---------- ---------- ---------- ---------- ---------- ----------
Total Delinquencies
and Repossessed
Assets as a
Percentage of the
Portfolio 10.1% 9.6% 9.8% 9.5% 9.6% 8.9%
========== ========== ========== ========== ========== ==========
</TABLE>
----------
(1) All amounts and percentages are based on the Principal Balances of the
Receivables. Principal Balances include some portion of accrued interest.
All dollar amounts are in thousands of dollars.
(2) AmeriCredit considers a loan delinquent when an Obligor fails to make a
contractual payment by the due date. The period of delinquency is based on
the number of days payments are contractually past due.
(3) Amounts shown do not include loans which are less than 31 days delinquent.
14
<PAGE>
LOAN LOSS EXPERIENCE
<TABLE>
<CAPTION>
FISCAL YEAR
ENDED
JUNE 30,
--------------------------------------------
2000 1999 1998
----------- -------------- ------------
<S> <C> <C> <C>
Period-End Principal Outstanding(1) $6,649,981 $4,105,468 $2,302,516
Average Month-End Amount Outstanding During
the Period(1) 5,334,580 3,129,463 1,649,416
Net Charge-Offs(2) 214,276 147,344 88,002
Net Charge-Offs as a Percentage of
Period-End Principal Outstanding 3.2% 3.6% 3.8%
Net Charge-Offs as a Percent of Average
Month-End Amount Outstanding 4.0% 4.7% 5.3%
</TABLE>
----------
(1) All amounts and percentages are based on the Principal Balances of the
Receivables. Principal Balances include some portion of accrued interest.
All dollar amounts are in thousands of dollars.
(2) Net Charge-Offs equal Gross Charge-Offs minus Recoveries. Gross
Charge-Offs do not include unearned finance charges and other fees.
Recoveries include repossession proceeds received from the sale of
repossessed Financed Vehicles net of repossession expenses, refunds of
unearned premiums from credit life and credit accident and health
insurance and extended service contract costs obtained and financed in
connection with the vehicle financing and recoveries from Obligors on
deficiency balances.
15
