v3.25.2
Debt
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Debt Debt
June 30, 2025December 31, 2024
Carrying AmountFair ValueCarrying AmountFair Value
Secured debt
Revolving credit facilities$1,564 $1,564 $5,426 $5,426 
Securitization notes payable49,349 49,640 44,147 44,327 
Total secured debt50,913 51,204 49,573 49,753 
Unsecured debt
Senior notes56,424 57,079 53,632 54,177 
Credit facilities2,140 2,146 2,178 2,174 
Other unsecured debt9,056 9,087 8,880 8,906 
Total unsecured debt67,620 68,312 64,691 65,258 
Total secured and unsecured debt$118,532 $119,516 $114,264 $115,010 
Fair value utilizing Level 2 inputs$117,071 $112,941 
Fair value utilizing Level 3 inputs$2,445 $2,070 
Secured Debt Most of the secured debt was issued by VIEs and is repayable only from proceeds related to the underlying pledged assets. Refer to Note 7 for further information.
During the six months ended June 30, 2025, we renewed revolving credit facilities with a total borrowing capacity of $12.0 billion, and we issued $14.8 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 4.80% and maturity dates ranging from 2027 to 2037.
Unsecured Debt During the six months ended June 30, 2025, we issued $8.4 billion in aggregate principal amount of senior notes with an initial weighted average interest rate of 5.33% and maturity dates ranging from 2027 to 2035.
General Motors Financial Company, Inc. is the sole guarantor of its subsidiaries' unsecured debt obligations for which a guarantee is provided.
Compliance with Debt Covenants Several of our revolving credit facilities require compliance with certain financial and operational covenants as well as regular reporting to lenders, including providing certain subsidiary financial statements. Certain of our secured debt agreements also contain various covenants, including maintaining portfolio performance ratios as well as limits on deferment levels. Our unsecured debt obligations contain covenants including limitations on our ability to incur certain liens. At June 30, 2025, we were in compliance with these debt covenants.