Exhibit 99.1

 

GM Financial Automobile Leasing Trust 2020-2

3.22% Exchange Note

Class A-1 0.27975% Asset Backed Notes

Class A-2A 0.71% Asset Backed Notes

Class A-2B Floating Asset Backed Notes

Class A-3 0.80% Asset Backed Notes

Class A-4 1.01% Asset Backed Notes

Class B 1.56% Asset Backed Notes

Class C 2.56% Asset Backed Notes

Class D 3.21% Asset Backed Notes

Servicer’s Certificate

 

Beginning of Period: 12/01/22
End of Period: 12/31/22
Number of days in Interest Period (Actual/360): 31
Number of days in Collection Period: 31
Report Due Date: 01/18/23
Distribution Date: 01/20/23
Transaction Month: 31

 

             Original Agg. 
2020-2
Designated Pool
  Units   Start Date  Closing Date  Securitization
Value
 
   53,180   05/15/2020  06/17/2020  $1,373,635,168 
                 
Total   53,180         $1,373,635,168 

 

RECONCILIATION OF 2020-2 DESIGNATED POOL AGGREGATE SECURITIZATION VALUE

 

{1}  Beginning of period Aggregate Securitization Value     {1}   $249,930,086 
                 
{2}  Reduction in Agg. Securitization Value due to payments  {2}   3,097,086      
{3}  Reduction in Agg. Securitization Value due to Defaulted Leases  {3}   310,182      
{4}  Reduction in Agg. Securitization Value due to early terminations, dealer buyouts, cancellations, repurchases  {4}   29,595,842      
{5}  Other adjustments  {5}   0      
{6}  Total change in Agg. Securitization Value      {6}    33,003,110 
                 
{7}  End of period Aggregate Securitization Value      {7}   $216,926,976 
                 
{8}  Seller’s Exercise of 10% Option      {8}   $216,926,976 
                 
{9}  Pool Factor      {9}    15.792183%

 

RECONCILIATION OF 2020-2 EXCHANGE NOTE

 

{10}  Original Exchange Note Balance  {10}  $1,326,000,000 
            
{11}  Beginning of period Exchange Note Balance  {11}  $202,294,918 
            
{12}  Exchange Note Principal Payment Amount  {12}   42,412,952 
            
{13}  With Optional Purchase, the Exchange Note shall be discharged and released  {13}   159,881,966 
            
{14}  End of period Exchange Note Balance  {14}  $0 
            
{15}  Note Pool Factor  {15}   0.000000%

 

1

 

 

RECONCILIATION OF THE ASSET BACKED NOTES

 

         Class A-1   Class A-2A   Class A-2B   Class A-3   Class A-4 
{16}  Original Note Balance  {16}  $128,000,000   $400,000,000   $60,000,000   $429,000,000   $90,140,000 
                                
{17}  Beginning of period Note Balance  {17}  $0   $0   $0   $0   $0 
                                
{18}  Noteholders’ Principal Distributable Amount  {18}   0    0    0    0    0 
{19}  Noteholders’ Accelerated Principal Amount  {19}   0    0    0    0    0 
{20}  Aggregate Principal Parity Amount  {20}   0    0    0    0    0 
{21}  Matured Principal Shortfall  {21}   0    0    0    0    0 
                                
{22}  End of period Note Balance  {22}  $0   $0   $0   $0   $0 
                                
{23}  Note Pool Factor  {23}   0.000000%   0.000000%   0.000000%   0.0000000%   0.000000%

 

         Class B   Class C   Class D   TOTAL 
{24}  Original Note Balance  {24}  $59,760,000   $55,630,000   $34,340,000   $1,256,870,000 
                           
{25}  Beginning of period Note Balance  {25}  $22,596,569   $55,630,000   $34,340,000   $112,566,569 
                           
{26}  Noteholders’ Principal Distributable Amount  {26}   22,596,569    55,630,000    34,340,000    112,566,569 
{27}  Noteholders’ Accelerated Principal Amount  {27}   0    0    0    0 
{28}  Aggregate Principal Parity Amount  {28}   0    0    0    0 
{29}  Matured Principal Shortfall  {29}   0    0    0    0 
                           
{30}  End of period Note Balance  {30}  $0   $0   $0   $0 
                           
{31}  Note Pool Factor  {31}   0.000000%   0.000000%   0.000000%   0.000000%

 

EXCHANGE NOTE MONTHLY PRINCIPAL PAYMENT AND INTEREST CALCULATIONS

 

   Principal payment calculation:           
{32}  Beginning of period Designated Pool Balance     {32}    N/A 
                 
{33}  Ending Designated Pool Balance  {33}   216,926,976      
{34}  Unpaid prior Exchange Note Principal Payment Amount  {34}   0      
{35}  Sum of {33} + {34}      {35}    216,926,976 
                 
{36}  Exchange Note Principal Payment Amount {32} - {35}      {36}    N/A 

 

   Interest calculation:                   
                      Beg Note
Balance
   Interest
Carryover
   Interest
Rate
   Days  Days Basis  Interest 
{37}             $202,294,918   $          0    3.22%  30  30/360  $542,825 

 

2

 

 

RECONCILIATION OF EXCHANGE NOTE COLLECTION ACCOUNT

 

   Additions:           
{38}  2020-2 Designated Pool Collections (net of Liquidation Proceeds and fees)  {38}  $4,852,849     
{39}  Net Liquidation Proceeds collected during period  {39}   38,311,203      
{40}  Investment Earnings  {40}   166,278      
{41}  Investment Earnings - transferred to Indenture Note Collection Account  {41}   (166,278)     
{42}  Deposit from Servicer  {42}   0      
                 
{43}  Total Additions:      {43}    43,164,052 

 

   Distributions:           
{44}  To the Servicer, Designated Pool Servicing Fee  {44}   208,275     
{45}  To the 2020-2 Exchange Noteholder, the Exchange Note Interest Payment Amount  {45}   542,825      
{46}  To the 2020-2 Exchange Noteholder, the Exchange Note Principal Payment Amount  {46}   42,412,952      
{47}  To the 2020-2 Exchange Noteholder, any funds available to pay obligations pursuant to Indenture Section 8.3 (a)(i) through (xvii)  {47}   0      
{48}  To the 2020-2 Exchange Noteholder, all remaining funds to be applied as Excess Exchange Note Payments  {48}   0      
                 
{49}  Total Distributions:      {49}   $43,164,052 

 

NOTEHOLDERS’ MONTHLY PRINCIPAL PAYMENT AND INTEREST CALCULATIONS

 

   Noteholders’ Principal Distributable calculation:                
{50}  Beginning Agg. Securitization Value  {50}   N/A             
{51}  Ending Agg. Securitization Value  {51}   216,926,976                
{52}  Principal Distributable Amount {50} - {51}      {52}    N/A           
                           
{53}  Noteholders’ Principal Carryover Amount      {53}    0           
                           
{54}  Principal Distributable Amount + Noteholders’ Principal Carryover Amount           {54}    N/A      
                           
{55}  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           {55}    0      
                           
{56}  Noteholders’ Principal Distributable Amount Lessor of {54} and {55}                {56}    N/A 

 

   Noteholders’ Interest Distributable calculation:           
   Class  Beg Note
Balance
   Interest
Carryover
   Interest
Rate
   Days  Days Basis  Interest 
{57}  Class A-1  $0   $               0    0.27975%  31  Actual/360  $0 
{58}  Class A-2A  $0    0    0.71%  30  30/360   0 
{59}  Class A-2B  $0    0    4.75286%  31  Actual/360   0 
{60}  Class A-3  $0    0    0.80%  30  30/360   0 
{61}  Class A-4  $0    0    1.01%  30  30/360   0 
{62}  Class B  $22,596,569    0    1.56%  30  30/360   29,376 
{63}  Class C  $55,630,000    0    2.56%  30  30/360   118,678 
{64}  Class D  $34,340,000    0    3.21%  30  30/360   91,860 

 

3

 

 

RECONCILIATION OF INDENTURE COLLECTION ACCOUNT

 

   Available Funds:           
{65}  2020-2 Exchange Note Collections  {65}  $42,955,777     
{66}  Investment Earnings  {66}   0      
{67}  Investment Earnings - transferred from Exchange Note Collection Account  {67}   166,278      
{68}  Investment Earnings - and amounts released from Reserve Account pursuant to Section 2.14(b)(ii) of Servicing Supplement  {68}   46,444      
{69}  Optional Purchase Price  {69}   112,806,483      
{70}  Indenture Section 5.4 disposition of Collateral  {70}   0      
{71}  Available Funds:      {71}    155,974,982 
                 
{72}  Reserve Account Withdrawal Amount  {72}   13,736,352      
                 
{73}  Total Distributable Funds:      {73}    169,711,334 

 

   Distributions:           
{74}  To the Successor Servicer, unpaid transition expenses, pro rata  {74}   0     
{75}  To the Indenture Trustee, any accrued and unpaid fees & expenses, pro rata  {75}   417      
{76}  To the Issuer Owner Trustee, any accrued and unpaid fees & expenses, pro rata  {76}   208      
{77}  To the Asset Representations Reviewer, any accrued and unpaid fees & expenses, pro rata  {77}   0      
{78}  Class A-1 Noteholders’ Interest Distributable Amount pari passu  {78}   0      
{79}  Class A-2A Noteholders’ Interest Distributable Amount pari passu  {79}   0      
{80}  Class A-2B Noteholders’ Interest Distributable Amount pari passu  {80}   0      
{81}  Class A-3 Noteholders’ Interest Distributable Amount pari passu  {81}   0      
{82}  Class A-4 Noteholders’ Interest Distributable Amount pari passu  {82}   0      
{83}  Class A Noteholders’ Principal Parity Amount or Matured Principal Shortfall  {83}   0      
{84}  Class B Noteholders’ Interest Distributable Amount  {84}   29,376      
{85}  Class B Noteholders’ Principal Parity Amount or Matured Principal Shortfall  {85}   0      
{86}  Class C Noteholders’ Interest Distributable Amount  {86}   118,678      
{87}  Class C Noteholders’ Principal Parity Amount or Matured Principal Shortfall  {87}   0      
{88}  Class D Noteholders’ Interest Distributable Amount  {88}   91,860      
{89}  Class D Noteholders’ Principal Parity Amount or Matured Principal Shortfall  {89}   0      
{90}  Noteholders’ Principal Distributable Amount  {90}   112,566,569      
{91}  To the Reserve Account, the Reserve Amount Required Amount  {91}   0      
{92}  To the Noteholders, the Accelerated Principal Amount (as calculated below)  {92}   0      
{93}  To the Successor Servicer, any amounts in excess of the caps set forth, pro rata  {93}   0      
{94}  To the Indenture Trustee, any amounts in excess of the caps set forth, pro rata  {94}   0      
{95}  To the Asset Representations Reviewer, any amounts in excess of the caps set forth, pro rata  {95}   0      
{96}  To the Issuer Owner Trustee, any amounts in excess of the caps set forth, pro rata  {96}   0      
{97}  To the Issuer Trust Certificateholders, the aggregate amount remaining  {97}   56,904,226      
                 
{98}  Total Distributions:      {98}   $169,711,334 

 

4

 

 

PRINCIPAL PARITY AMOUNT CALCULATION

 

   Class  (X)
Cumulative
Note Balance
   (Y)
Aggregate
Securitization
Value
   (I)
Excess of
(X) - (Y)
   (II)
Total
Available
Funds in
Indenture
Collection
Account
   Lesser of
(I) or (II)
 
{99}  Class A  $0   $216,926,976   $    0   $169,710,709   $      0 
{100}  Class B   22,596,569    216,926,976    0    169,681,333    0 
{101}  Class C   78,226,569    216,926,976    0    169,562,655    0 
{102}  Class D   112,566,569    216,926,976    0    169,470,795    0 

 

ACCELERATED PRINCIPAL AMOUNT CALCULATION

 

{103}  Excess Total Available Funds         {103}   $56,904,226     
{104}  Beginning Note Balance  {104}   112,566,569                
{105}  Principal payments through Indenture Section 8.3 (a) (i) through (xv)  {105}   112,566,569                
{106}  Pro-Forma Note Balance      {106}    0           
                           
{107}  Ending Aggregate Securitization Value  {107}   216,926,976                
{108}  11% of Aggregate Securitization Value as of Cutoff until Class A-2 is paid in full,10% Thereafter ($137,363,517)  {108}   N/A                
{109}  Required Pro Forma Note Balance {107} - {108}      {109}    N/A           
                           
{110}  Excess of Pro Forma Balance minus Required Pro Forma Balance {106} - {109}           {110}    N/A      
                           
{111}  Lesser of Excess Total Available Funds and Excess of Pro Forma Note Balance                {111}    N/A 

 

OVERCOLLATERALIZATION CALCULATIONS

 

   Exchange Note:           
{112}  Ending Aggregate Securitization Value  {112}  $216,926,976     
{113}  End of Period Note Balance  {113}   0      
{114}  Overcollateralization  {114}   0      
{115}  Overcollateralization %      {115}    0.00%

 

   Asset Backed Notes:           
{116}  Ending Aggregate Securitization Value  {116}   216,926,976     
{117}  End of Period Note Balance  {117}   0      
{118}  Overcollateralization  {118}   216,926,976      
{119}  Overcollateralization %      {119}    0.00%

 

5

 

 

RECONCILIATION OF 2020-2 CASH RESERVE ACCOUNT

 

{120}  Specified Reserve Balance     {120}   $13,736,352 
                 
{121}  Beginning of Period Reserve Account balance      {121}   $13,736,352 
{122}  Investment Earnings  {122}   46,444      
{123}  From the Indenture Collection Account, the Reserve Account Required Amount  {123}   0      
{124}  To the Indenture Collection Account, the Reserve Account Withdrawal Amount  {124}   (13,782,796)     
{125}  Total Reserve balance available:      {125}    0 
                 
{126}  Specified Reserve Balance      {126}    13,736,352 
                 
{127}  Release Excess Cash to Indenture Collection Available Funds      {127}    0 
                 
{128}  End of period Reserve Account balance      {128}   $0 

 

ASSET REPRESENTATIONS REVIEW DELINQUENCY TRIGGER

 

         Dollars   Percentage 
{129}  Receivables with Scheduled Payment delinquent 61 days or more  {129}  $694,466    0.32%
                 
{130}  Compliance (Trigger Violation is a Delinquency Rate Greater Than 2.90%)  {130}         Yes 

 

By: /s/ Randal L. Willis  
Name:  Randal L. Willis  
Title: Senior Vice President, Securitization & Conduit Reporting  
Date: January 17, 2023  

 

6

 

 

GM Financial

GMALT 2020-2

Supplemental Monthly Data

December 31, 2022

 

   Aggregate
Securitization
Value
   Residual
Value
 
Beginning of Period  $249,930,086   $232,766,416 
Change   (33,003,110)   (232,766,416)
End of Period  $216,926,976   $0 
           
Residual Value as % of Agg. Securitization Value        0.00%

 

Delinquency

 

Leases with scheduled payment delinquent  Number of
Leases
   Agg.
Securitization
Value
   Percentage(1) 
0 - 30 days   10,783    214,527,421    98.89%
31 - 60 days   83    1,705,089    0.79%
61 - 90 days   18    388,601    0.18%
91 - 120 days   17    305,865    0.14%
Total   10,901    216,926,976    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   603    11,830,705    22,525    470,521,020 
Standard terminations   834    14,987,014    15,599    277,053,818 
Total retained by lessee   1,437    26,817,719    38,124    747,574,838 
Returned Vehicles                    
Early terminations   53    923,877    1,298    20,840,614 
Standard terminations   96    1,854,247    1,518    24,589,358 
Total returned to dealer   149    2,778,124    2,816    45,429,972 
Charged off leases / Repossessed vehicles   18    310,182    1,338    28,784,109 
Repurchases   0    0    1    67,473 
Other   0    0    0    0 
Total terminations   1,604    29,906,025    42,279    821,856,392 

 

Lease Extensions/Deferments

 

   Current Period 
   Number of
Leases
   Agg.
Securitization
Value
   Percentage 
             
Term Extensions   1,040    17,881,856    7.15%
                
Deferments   2    50,424    0.02%

 

7

 

 

Net Credit (Gain) Loss

 

   Current
Period
   Cumulative 
Agg. Securitized Value of early term defaults   310,182    28,784,109 
less: Sales proceeds   373,884    36,648,177 
less: Excess wear and excess mileage received   55    3,614 
less: Other amounts received   0    0 
Net Credit (Gain) Loss   (63,757)   (7,867,682)

 

Residual (Gain) Loss on Returned Vehicles

 

Agg. Securitized Value of returned vehicles sold by Servicer   2,756,128    44,248,125 
add: Reimbursement of outstanding residual advance   N/A     N/A  
less: Sales proceeds   3,803,929    63,213,378 
less: Excess wear and excess mileage received   44,051    227,874 
less: Other recovery amounts   0    0 
Residual (Gain) Loss   (1,091,852)   (19,193,127)

 

   Current
Period
   Prev. Month 
Prepay Speed   0.1563%   0.7584%
           
Return Rate based on Scheduled to Terminate(2)   6.1141%   4.6445%
           
Return Rate based on Terminated Leases(3)   9.2893%   6.3058%

 

(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.

 

8