UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-D

ASSET-BACKED ISSUER
DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from

June 1, 2021 to June 30, 2021

Commission File Number of issuing entity: 333-299068-08

CIK number of issuing entity: 0001854846

GM FINANCIAL AUTOMOBILE LEASING TRUST 2021-2

(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 333-229068

CIK number of depositor: 0001631055

GMF LEASING LLC

(Exact name of depositor as specified in its charter)

CIK number of sponsor: 0001002761

AMERICREDIT FINANCIAL SERVICES, INC.

(Exact name of sponsor as specified in its charter)

Randal L. Willis (817) 302-7000

(Name and telephone number of person to contact in connection with this filing)

Delaware		86-6650749
(State or other jurisdiction of incorporation or organization of the issuing entity)		(I.R.S. Employer Identification No.)

c/o AmeriCredit Financial Services, Inc. 801 Cherry Street, Suite 3500 Fort Worth, TX 76102		76102
(Address of principal executive offices of issuing entity)		(Zip Code)

(817) 302-7000

(Telephone number, including area code)

N/A

(Former name, former address, if changed since last report)

	Registered/reported pursuant to (check one)			Name of exchange
Title of Class	Section 12(b)	Section 12(g)	Section 15(d)	(If Section 12(b))
Class A-1	☐	☐	☒
Class A-2	☐	☐	☒
Class A-3	☐	☐	☒
Class A-4	☐	☐	☒
Class B	☐	☐	☒
Class C	☐	☐	☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

PART I – DISTRIBUTION INFORMATION

ITEM 1 – Distribution and Pool Performance Information.

The response to Item 1 is set forth in part herein and in part in Exhibit 99.1

The record date for distributions described in Exhibit 99.1 was July 19, 2021.

No assets securitized by AmeriCredit Financial Services, Inc. d/b/a GM Financial (the “Securitizer”) and held by GM Financial Automobile Leasing Trust 2021-2 were the subject of a demand to repurchase or replace for breach of the representations and warranties during the distribution period from June 1, 2021 to June 30, 2021.

The Securitizer (CIK # 0001002761) filed Form ABS-15G on February 1, 2021.

Item 1A. – Asset-Level Information.

The response to Item 1A is set forth in Exhibit 102.1 and Exhibit 103.1 each of which is incorporated by reference into this Form 10-D as described in Item 10.

Item 1B. – Asset Representations Reviewer and Investor Communication.

None

PART II – OTHER INFORMATION

ITEM 2 – Legal Proceedings.

None

ITEM 3 – Sales of Securities and Use of Proceeds.

None

ITEM 4 – Defaults Upon Senior Securities.

None

ITEM 5 – [Reserved]

ITEM 6 – Significant Obligors of Pool Assets.

None

ITEM 7 – Change in Sponsor Interest in the Securities.

None

ITEM 8 – Significant Enhancement Provider Information.

None

ITEM 9 – Other Information.

None

ITEM 10 – Exhibits.

(a)

Documents filed as part of this report:

99.1

Monthly Servicer’s Certificate

(b)

Exhibits required by this Form and Item 601 of Regulation S-K (17 CFR 229.601).

102.1

Asset Data File, dated as of July 23, 2021 for the reporting period June 1, 2021 to June 30, 2021 (See Exhibit 102.1 to Form ABS–EE filed by GM Financial Automobile Leasing Trust 2021-2 with the SEC on July 23, 2021, which is incorporated by reference herein).

103.1

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 thereunto duly authorized.

GM FINANCIAL AUTOMOBILE LEASING TRUST 2021-2

(Issuing Entity)

Dated: July 27, 2021

By: AmeriCredit Financial Services, Inc. d/b/a GM Financial, as Servicer

By:	/s/ Randal L. Willis
Name:	Randal L. Willis
Title:	Senior Vice President, Securitization & Conduit Reporting

Exhibit 99.1

GM Financial Automobile Leasing Trust 2021-2

1.14% Exchange Note

Class A-1 0.10981% Asset Backed Notes

Class A-2 0.22% Asset Backed Notes

Class A-3 0.34% Asset Backed Notes

Class A-4 0.41% Asset Backed Notes

Class B 0.69% Asset Backed Notes

Class C 1.01% Asset Backed Notes

Class D 1.13% Asset Backed Notes

Servicer’s Certificate

Beginning of Period:	06/01/21
End of Period:	06/30/21
Number of days in Interest Period (Actual/360):	29
Number of days in Collection Period:	30
Report Due Date:	07/16/21
Distribution Date:	07/20/21
Transaction Month:	2

					Original Agg.
2021-2 Designated Pool	Units		Start Date	Closing Date	Securitization Value
		50,797	04/07/2021	05/26/2021	$	1,366,536,472

Total		50,797			$	1,366,536,472

RECONCILIATION OF 2021-2 DESIGNATED POOL AGGREGATE SECURITIZATION VALUE

{1}

Beginning of period Aggregate Securitization Value

{1}

1,319,323,410

{2}

Reduction in Agg. Securitization Value due to payments

{2}

13,426,384

{3}

Reduction in Agg. Securitization Value due to Defaulted Leases

{3}

961,699

{4}

Reduction in Agg. Securitization Value due to early terminations, dealer buyouts, cancellations, repurchases

{4}

18,173,594

{5}

Other adjustments

{5}

{6}

Total change in Agg. Securitization Value

{6}

32,561,677

{7}

End of period Aggregate Securitization Value

{7}

1,286,761,733

{8}

Pool Factor

{8}

94.162268

RECONCILIATION OF 2021-2 EXCHANGE NOTE

{9}	Original Exchange Note Balance	{9}	$	1,307,000,000

{10}	Beginning of period Exchange Note Balance	{10}	$	1,259,786,938

{11}	Exchange Note Principal Payment Amount	{11}		32,561,677

{12}	End of period Exchange Note Balance	{12}	$	1,227,225,261

{13}	Note Pool Factor	{13}		93.896347	%

RECONCILIATION OF THE ASSET BACKED NOTES

			Class A-1			Class A-2			Class A-3			Class A-4
{14}	Original Note Balance	{14}	$	210,000,000		$	390,000,000		$	390,000,000		$	111,430,000

{15}	Beginning of period Note Balance	{15}	$	147,898,019		$	390,000,000		$	390,000,000		$	111,430,000

{16}	Noteholders’ Principal Distributable Amount	{16}		32,561,677			0			0			0
{17}	Noteholders’ Accelerated Principal Amount	{17}		5,608,256			0			0			0
{18}	Aggregate Principal Parity Amount	{18}		0			0			0			0
{19}	Matured Principal Shortfall	{19}		0			0			0			0

{20}	End of period Note Balance	{20}	$	109,728,086		$	390,000,000		$	390,000,000		$	111,430,000

{21}	Note Pool Factor	{21}		52.251470	%		100.000000	%		100.000000	%		100.000000	%

			Class B			Class C			Class D			TOTAL
{22}	Original Note Balance	{22}	$	59,440,000		$	55,340,000		$	34,170,000		$	1,250,380,000

{23}	Beginning of period Note Balance	{23}	$	59,440,000		$	55,340,000		$	34,170,000		$	1,188,278,019

{24}	Noteholders’ Principal Distributable Amount	{24}		0			0			0			32,561,677
{25}	Noteholders’ Accelerated Principal Amount	{25}		0			0			0			5,608,256
{26}	Aggregate Principal Parity Amount	{26}		0			0			0			0
{27}	Matured Principal Shortfall	{27}		0			0			0			0

{28}	End of period Note Balance	{28}	$	59,440,000		$	55,340,000		$	34,170,000		$	1,150,108,086

{29}	Note Pool Factor	{29}		100.000000	%		100.000000	%		100.000000	%		91.980685	%

EXCHANGE NOTE MONTHLY PRINCIPAL PAYMENT AND INTEREST CALCULATIONS

Principal payment calculation:

{30}

Beginning of period Designated Pool Balance

{30}

1,319,323,410

{31}

Ending Designated Pool Balance

{31}

1,286,761,733

{32}

Unpaid prior Exchange Note Principal Payment Amount

{32}

{33}

Sum of {31} + {32}

{33}

1,286,761,733

{34}

Exchange Note Principal Payment Amount {30} - {33}

{34}

32,561,677

	Interest calculation:
		Beg Note Balance		Interest Carryover		Interest Rate			Days		Days Basis	Interest
{35}		$	1,259,786,938	$	0		1.14	%		30	30/360	$	1,196,798

RECONCILIATION OF EXCHANGE NOTE COLLECTION ACCOUNT

Additions:

{36}

2021-2 Designated Pool Collections (net of Liquidation Proceeds and fees)

{36}

20,775,891

{37}

Net Liquidation Proceeds collected during period

{37}

22,708,965

{38}

Investment Earnings

{38}

1,075

{39}

Investment Earnings - transferred to Indenture Note Collection Account

{39}

(1,075

)

{40}

Deposit from Servicer

{40}

{41}

Total Additions:

{41}

43,484,856

Distributions:

{42}

To the Servicer, Designated Pool Servicing Fee

{42}

1,099,436

{43}

To the 2021-2 Exchange Noteholder, the Exchange Note Interest Payment Amount

{43}

1,196,798

{44}

To the 2021-2 Exchange Noteholder, the Exchange Note Principal Payment Amount

{44}

32,561,677

{45}

To the 2021-2 Exchange Noteholder, any funds available to pay obligations pursuant to Indenture Section 8.3 (a)(i) through (xvii)

{45}

4,756,974

{46}

To the 2021-2 Exchange Noteholder, all remaining funds to be applied as Excess Exchange Note Payments

{46}

3,869,971

{47}

Total Distributions:

{47}

43,484,856

NOTEHOLDERS’ MONTHLY PRINCIPAL PAYMENT AND INTEREST CALCULATIONS

Noteholders’ Principal Distributable calculation:

{48}

Beginning Agg. Securitization Value

{48}

1,319,323,410

{49}

Ending Agg. Securitization Value

{49}

1,286,761,733

{50}

Principal Distributable Amount {48} - {49}

{50}

32,561,677

{51}

Noteholders’ Principal Carryover Amount

{51}

{52}

Principal Distributable Amount + Noteholders’ Principal Carryover Amount

{52}

32,561,677

{53}

Amount required to reduce Outstanding Amount after giving effect to distributions made pursuant to Indenture Section 8.3 (i) through (xiii) to the Required Pro Forma Note Balance

{53}

38,169,933

{54}

Noteholders’ Principal Distributable Amount Lessor of {52} and {53}

{54}

32,561,677

	Noteholders’ Interest Distributable calculation:
	Class	Beg Note Balance		Interest Carryover		Interest Rate			Days	Days Basis	Interest
{55}	Class A-1	$	147,898,019	$	0		0.10981	%	29	Actual/360	$	13,083
{56}	Class A-2	$	390,000,000		0		0.22	%	30	30/360		71,500
{57}	Class A-3	$	390,000,000		0		0.34	%	30	30/360		110,500
{58}	Class A-4	$	111,430,000		0		0.41	%	30	30/360		38,072
{59}	Class B	$	59,440,000		0		0.69	%	30	30/360		34,178
{60}	Class C	$	55,340,000		0		1.01	%	30	30/360		46,578
{61}	Class D	$	34,170,000		0		1.13	%	30	30/360		32,177

RECONCILIATION OF INDENTURE COLLECTION ACCOUNT

Available Funds:

{62}

2021-2 Exchange Note Collections

{62}

42,385,420

{63}

Investment Earnings

{63}

{64}

Investment Earnings - transferred from Exchange Note Collection Account

{64}

1,075

{65}

Investment Earnings - and amounts released from Reserve Account pursuant to Section 2.14(b)(ii) of Servicing Supplement

{65}

122

{66}

Optional Purchase Price

{66}

{67}

Indenture Section 5.4 disposition of Collateral

{67}

{68}

Available Funds:

{68}

42,386,617

{69}

Reserve Account Withdrawal Amount

{69}

{70}

Total Distributable Funds:

{70}

42,386,617

Distributions:

{71}

To the Successor Servicer, unpaid transition expenses, pro rata

{71}

{72}

To the Indenture Trustee, any accrued and unpaid fees & expenses, pro rata

{72}

417

{73}

To the Issuer Owner Trustee, any accrued and unpaid fees & expenses, pro rata

{73}

208

{74}

To the Asset Representations Reviewer, any accrued and unpaid fees & expenses, pro rata

{74}

{75}

Class A-1 Noteholders’ Interest Distributable Amount pari passu

{75}

13,083

{76}

Class A-2 Noteholders’ Interest Distributable Amount pari passu

{76}

71,500

{77}

Class A-3 Noteholders’ Interest Distributable Amount pari passu

{77}

110,500

{78}

Class A-4 Noteholders’ Interest Distributable Amount pari passu

{78}

38,072

{79}

Class A Noteholders’ Principal Parity Amount or Matured Principal Shortfall

{79}

{80}

Class B Noteholders’ Interest Distributable Amount

{80}

34,178

{81}

Class B Noteholders’ Principal Parity Amount or Matured Principal Shortfall

{81}

{82}

Class C Noteholders’ Interest Distributable Amount

{82}

46,578

{83}

Class C Noteholders’ Principal Parity Amount or Matured Principal Shortfall

{83}

{84}

Class D Noteholders’ Interest Distributable Amount

{84}

32,177

{85}

Class D Noteholders’ Principal Parity Amount or Matured Principal Shortfall

{85}

{86}

Noteholders’ Principal Distributable Amount

{86}

32,561,677

{87}

To the Reserve Account, the Reserve Amount Required Amount

{87}

{88}

To the Noteholders, the Accelerated Principal Amount (as calculated below)

{88}

5,608,256

{89}

To the Successor Servicer, any amounts in excess of the caps set forth, pro rata

{89}

{90}

To the Indenture Trustee, any amounts in excess of the caps set forth, pro rata

{90}

{91}

To the Asset Representations Reviewer, any amounts in excess of the caps set forth, pro rata

{91}

{92}

To the Issuer Owner Trustee, any amounts in excess of the caps set forth, pro rata

{92}

{93}

To the Issuer Trust Certificateholders, the aggregate amount remaining

{93}

3,869,971

{94}

Total Distributions:

{94}

42,386,617

PRINCIPAL PARITY AMOUNT CALCULATION

		(X)		(Y)				(II) Total Available Funds in
	Class	Cumulative Note Balance		Aggregate Securitization Value		(I) Excess of (X) - (Y)		Indenture Collection Account		Lesser of (I) or (II)
{95}	Class A	$	1,039,328,019	$	1,286,761,733	$	0	$	42,152,837	$	0
{96}	Class B		1,098,768,019		1,286,761,733		0		42,118,659		0
{97}	Class C		1,154,108,019		1,286,761,733		0		42,072,081		0
{98}	Class D		1,188,278,019		1,286,761,733		0		42,039,904		0

ACCELERATED PRINCIPAL AMOUNT CALCULATION

{99}

Excess Total Available Funds

{99}

9,478,227

{100}

Beginning Note Balance

{100}

1,188,278,019

{101}

Principal payments through Indenture Section 8.3 (a) (i) through (xv)

{101}

32,561,677

{102}

Pro-Forma Note Balance

{102}

1,155,716,342

{103}

Ending Aggregate Securitization Value

{103}

1,286,761,733

{104}

10% of Aggregate Securitization Value as of Cutoff ($136,653,647)

{104}

136,653,647

{105}

Required Pro Forma Note Balance {103} - {104}

{105}

1,150,108,086

{106}

Excess of Pro Forma Balance minus Required Pro Forma Balance {102} - {105}

{106}

5,608,256

{107}

Lesser of Excess Total Available Funds and Excess of Pro Forma Note Balance

{107}

5,608,256

OVERCOLLATERALIZATION CALCULATIONS

Exchange Note:

{108}

Ending Aggregate Securitization Value

{108}

1,286,761,733

{109}

End of Period Note Balance

{109}

1,227,225,261

{110}

Overcollateralization

{110}

59,536,472

{111}

Overcollateralization %

{111}

4.63

Asset Backed Notes:

{112}

Ending Aggregate Securitization Value

{112}

1,286,761,733

{113}

End of Period Note Balance

{113}

1,150,108,086

{114}

Overcollateralization

{114}

136,653,647

{115}

Overcollateralization %

{115}

10.62

RECONCILIATION OF 2021-2 CASH RESERVE ACCOUNT

{116}

Specified Reserve Balance

{116}

6,832,682

{117}

Beginning of Period Reserve Account balance

{117}

6,832,682

{118}

Investment Earnings

{118}

122

{119}

From the Indenture Collection Account, the Reserve Account Required Amount

{119}

{120}

To the Indenture Collection Account, the Reserve Account Withdrawal Amount

{120}

{121}

Total Reserve balance available:

{121}

6,832,804

{122}

Specified Reserve Balance

{122}

6,832,682

{123}

Release Excess Cash to Indenture Collection Available Funds

{123}

122

{124}

End of period Reserve Account balance

{124}

6,832,682

ASSET REPRESENTATIONS REVIEW DELINQUENCY TRIGGER

Dollars

Percentage

{125}

Receivables with Scheduled Payment delinquent 61 days or more

{125}

412,440

0.03

{126}

Compliance (Trigger Violation is a Delinquency Rate Greater Than 1.40% )

{126}

Yes

By:	/s/ Ellen Billings
Name:	Ellen Billings
Title:	Senior Vice President, Controller – North America
Date:	July 15, 2021

GM Financial

GMALT 2021-2

Supplemental Monthly Data

June 30, 2021

	Aggregate Securitization Value			Residual Value
Beginning of Period	$	1,319,323,410		$	988,791,471
Change		(32,561,677	)		(15,847,768	)
End of Period	$	1,286,761,733		$	972,943,703

Residual Value as % of Agg. Securitization Value					75.61	%

Delinquency

Leases with scheduled payment delinquent	Number of Leases		Agg. Securitization Value		Percentage⁽¹⁾
0 - 30 days		48,964		1,283,838,086		99.77	%
31 - 60 days		88		2,511,207		0.20	%
61 - 90 days		14		343,747		0.03	%
91 - 120 days		3		68,693		0.01	%
Total		49,069		1,286,761,733		100.00	%

Lease Terminations

	Current Period				Cumulative
	Number of Leases		Agg. Securitization Value		Number of Leases		Agg. Securitization Value
Retained vehicles by lessee
Early terminations		721		17,400,029		1,549		38,038,821
Standard terminations		20		445,702		20		445,702
Total retained by lessee		741		17,845,731		1,569		38,484,523
Returned Vehicles
Early terminations		19		295,469		47		817,849
Standard terminations		0		0		0		0
Total returned to dealer		19		295,469		47		817,849
Charged off leases / Repossessed vehicles		40		961,699		110		2,897,337
Repurchases		1		32,393		2		85,917
Other		0		0		0		0
Total terminations		801		19,135,292		1,728		42,285,626

Lease Extensions/Deferments

	Current Period
	Number of Leases		Agg. Securitization Value		Percentage

Term Extensions		0		0		0.00	%

Deferments		16		516,754		0.04	%

Net Credit (Gain) Loss

	Current Period		Cumulative
Agg. Securitized Value of early term defaults	961,699		2,897,337
less: Sales proceeds	1,055,513		2,298,450
less: Excess wear and excess mileage received	0		0
less: Other amounts received	-		0
Net Credit (Gain) Loss	(93,814	)	598,887

Residual (Gain) Loss on Returned Vehicles

Agg. Securitized Value of returned vehicles sold by Servicer 283,663 753,731

add:  Reimbursement of outstanding residual advance N/A    N/A

less:  Sales proceeds 489,236 1,281,501

less: Excess wear and excess mileage received - 0

less:  Other recovery amounts - 0

Residual (Gain) Loss (205,573 ) (527,770 )

	Current Period			Prev. Month
Prepay Speed		1.1819	%		1.6849	%

Return Rate based on Scheduled to Terminate⁽²⁾		0.0000	%		0.0000	%

Return Rate based on Terminated Leases⁽³⁾		2.3720	%		3.0205	%

(1)

Percentages may not add to 100% due to rounding.

(2)

Percentage of total number of vehicles returned to dealer over number of vehicles scheduled to terminate per month.

(3)

Percentage of total number of vehicles returned to dealer over number of vehicles terminated per month.

Residual (Gain) Loss on Returned Vehicles

Agg. Securitized Value of returned vehicles sold by Servicer	283,663		753,731
add: Reimbursement of outstanding residual advance	N/A		N/A
less: Sales proceeds	489,236		1,281,501
less: Excess wear and excess mileage received	-		0
less: Other recovery amounts	-		0
Residual (Gain) Loss	(205,573	)	(527,770	)