GM Financial Automobile Leasing Trust 2024-3
09/30/2025 | Press release | Distributed by Public on 09/30/2025 05:55
Asset-Backed Issuer Distribution Report (Form 10-D)
GM Financial Automobile Leasing Trust 2024-3
4.755% Exchange Note
Class A-1 4.74500% Asset Backed Notes
Class A-2A 4.29% Asset Backed Notes
Class A-2B Floating Asset Backed Notes
Class A-3 4.21% Asset Backed Notes
Class A-4 4.22% Asset Backed Notes
Class B 4.49% Asset Backed Notes
Class C 4.58% Asset Backed Notes
Servicer's Certificate
| Beginning of Period: | 08/01/25 |
| End of Period: | 08/31/25 |
| Number of days in Interest Period (Actual/360): | 33 |
| Number of days in Collection Period: | 31 |
| Report Due Date: | 09/18/25 |
| Distribution Date: | 09/22/25 |
| Transaction Month: | 12 |
| Original Agg. | ||||||||||||
|
2024-3 Designated Pool |
Units | Start Date | Closing Date |
Securitization Value |
||||||||
| 46,461 | 08/21/2024 | 10/02/2024 | $ | 1,463,411,295 | ||||||||
| Total | 46,461 | $ | 1,463,411,295 | |||||||||
RECONCILIATION OF 2024-3 DESIGNATED POOL AGGREGATE SECURITIZATION VALUE
| {1} | Beginning of period Aggregate Securitization Value | {1} | $ | 1,126,142,217 | ||||||||
| {2} | Reduction in Agg. Securitization Value due to payments | {2} | 11,856,445 | |||||||||
| {3} | Reduction in Agg. Securitization Value due to Defaulted Leases | {3} | 2,109,718 | |||||||||
| {4} | Reduction in Agg. Securitization Value due to early terminations, dealer buyouts, cancellations, repurchases | {4} | 26,729,588 | |||||||||
| {5} | Other adjustments | {5} | 0 | |||||||||
| {6} | Total change in Agg. Securitization Value | {6} | 40,695,751 | |||||||||
| {7} | End of period Aggregate Securitization Value | {7} | $ | 1,085,446,466 | ||||||||
| {8} | Pool Factor | {8} | 74.172344 | % |
RECONCILIATION OF 2024-3 EXCHANGE NOTE
| {9} | Original Exchange Note Balance | {9} | $ | 1,390,000,000 | ||||
| {10} | Beginning of period Exchange Note Balance | {10} | $ | 1,052,730,922 | ||||
| {11} | Exchange Note Principal Payment Amount | {11} | 40,695,751 | |||||
| {12} | End of period Exchange Note Balance | {12} | $ | 1,012,035,171 | ||||
| {13} | Note Pool Factor | {13} | 72.808286 | % |
1
RECONCILIATION OF THE ASSET BACKED NOTES
| Class A-1 | Class A-2A | Class A-2B | Class A-3 | Class A-4 | ||||||||||||||||||||
| {14} | Original Note Balance | {14} | $ | 175,760,000 | $ | 229,720,000 | $ | 265,000,000 | $ | 450,000,000 | $ | 71,500,000 | ||||||||||||
| {15} | Beginning of period Note Balance | {15} | $ | 0 | $ | 147,915,207 | $ | 170,631,768 | $ | 450,000,000 | $ | 71,500,000 | ||||||||||||
| {16} | Noteholders' Principal Distributable Amount | {16} | 0 | 18,896,806 | 21,798,945 | 0 | 0 | |||||||||||||||||
| {17} | Noteholders' Accelerated Principal Amount | {17} | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| {18} | Aggregate Principal Parity Amount | {18} | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| {19} | Matured Principal Shortfall | {19} | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||
| {20} | End of period Note Balance | {20} | $ | 0 | $ | 129,018,401 | $ | 148,832,823 | $ | 450,000,000 | $ | 71,500,000 | ||||||||||||
| {21} | Note Pool Factor | {21} | 0.000000 | % | 56.163330 | % | 56.163329 | % | 100.0000000 | % | 100.000000 | % | ||||||||||||
| Class B | Class C | TOTAL | ||||||||||||||
| {22} | Original Note Balance | {22} | $ | 65,120,000 | $ | 60,000,000 | $ | 1,317,100,000 | ||||||||
| {23} | Beginning of period Note Balance | {23} | $ | 65,120,000 | $ | 60,000,000 | $ | 965,166,975 | ||||||||
| {24} | Noteholders' Principal Distributable Amount | {24} | 0 | 0 | 40,695,751 | |||||||||||
| {25} | Noteholders' Accelerated Principal Amount | {25} | 0 | 0 | 0 | |||||||||||
| {26} | Aggregate Principal Parity Amount | {26} | 0 | 0 | 0 | |||||||||||
| {27} | Matured Principal Shortfall | {27} | 0 | 0 | 0 | |||||||||||
| {28} | End of period Note Balance | {28} | $ | 65,120,000 | $ | 60,000,000 | $ | 924,471,224 | ||||||||
| {29} | Note Pool Factor | {29} | 100.000000 | % | 100.000000 | % | 70.189904 | % | ||||||||
EXCHANGE NOTE MONTHLY PRINCIPAL PAYMENT AND INTEREST CALCULATIONS
| Principal payment calculation: | ||||||||||||
| {30} | Beginning of period Designated Pool Balance | {30} | $ | 1,126,142,217 | ||||||||
| {31} | Ending Designated Pool Balance | {31} | 1,085,446,466 | |||||||||
| {32} | Unpaid prior Exchange Note Principal Payment Amount | {32} | 0 | |||||||||
| {33} | Sum of {31} + {32} | {33} | 1,085,446,466 | |||||||||
| {34} | Exchange Note Principal Payment Amount {30} - {33} | {34} | $ | 40,695,751 | ||||||||
| Interest calculation: | ||||||||||||||||||||||
|
Beg Note Balance |
Interest Carryover |
Interest Rate |
Days | Days Basis | Interest | |||||||||||||||||
| {35} | $ | 1,052,730,922 | $ | 0 | 4.755 | % | 30 | 30/360 | $ | 4,171,447 | ||||||||||||
2
RECONCILIATION OF EXCHANGE NOTE COLLECTION ACCOUNT
| Additions: | ||||||||||||
| {36} | 2024-3 Designated Pool Collections (net of Liquidation Proceeds and fees) | {36} | $ | 20,603,585 | ||||||||
| {37} | Net Liquidation Proceeds collected during period | {37} | 32,022,358 | |||||||||
| {38} | Investment Earnings | {38} | 189,849 | |||||||||
| {39} | Investment Earnings - transferred to Indenture Note Collection Account | {39} | (189,849 | ) | ||||||||
| {40} | Deposit from Servicer | {40} | 0 | |||||||||
| {41} | Total Additions: | {41} | 52,625,943 | |||||||||
| Distributions: | ||||||||||||
| {42} | To the Servicer, Designated Pool Servicing Fee | {42} | 938,452 | |||||||||
| {43} | To the 2024-3 Exchange Noteholder, the Exchange Note Interest Payment Amount | {43} | 4,171,447 | |||||||||
| {44} | To the 2024-3 Exchange Noteholder, the Exchange Note Principal Payment Amount | {44} | 40,695,751 | |||||||||
| {45} | To the 2024-3 Exchange Noteholder, any funds available to pay obligations pursuant to Indenture Section 8.3 (a)(i) through (xiv) | {45} | 0 | |||||||||
| {46} | To the 2024-3 Exchange Noteholder, all remaining funds to be applied as Excess Exchange Note Payments | {46} | 6,820,293 | |||||||||
| {47} | Total Distributions: | {47} | $ | 52,625,943 | ||||||||
NOTEHOLDERS' MONTHLY PRINCIPAL PAYMENT AND INTEREST CALCULATIONS
| Noteholders' Principal Distributable calculation: | ||||||||||||||||||||
| {48} | Beginning Agg. Securitization Value | {48} | $ | 1,126,142,217 | ||||||||||||||||
| {49} | Ending Agg. Securitization Value | {49} | 1,085,446,466 | |||||||||||||||||
| {50} | Principal Distributable Amount {48} - {49} | {50} | 40,695,751 | |||||||||||||||||
| {51} | Noteholders' Principal Carryover Amount | {51} | 0 | |||||||||||||||||
| {52} | Principal Distributable Amount + Noteholders' Principal Carryover Amount | {52} | 40,695,751 | |||||||||||||||||
| {53} | Amount required to reduce Outstanding Amount after giving effect to distributions made pursuant to Indenture Section 8.3 (a) (i) through (x) to the Required Pro Forma Note Balance | {53} | 40,695,751 | |||||||||||||||||
| {54} | Noteholders' Principal Distributable Amount Lesser of {52} and {53} | {54} | $ | 40,695,751 | ||||||||||||||||
| Noteholders' Interest Distributable calculation: | ||||||||||||||||||||||
| Class |
Beg Note Balance |
Interest Carryover |
Interest Rate |
Days | Days Basis | Interest | ||||||||||||||||
| {55} | Class A-1 | $ | 0 | $ | 0 | 4.74500 | % | 33 | Actual/360 | $ | 0 | |||||||||||
| {56} | Class A-2A | $ | 147,915,207 | 0 | 4.29 | % | 30 | 30/360 | 528,797 | |||||||||||||
| {57} | Class A-2B | $ | 170,631,768 | 0 | 4.81503 | % | 33 | Actual/360 | 753,131 | |||||||||||||
| {58} | Class A-3 | $ | 450,000,000 | 0 | 4.21 | % | 30 | 30/360 | 1,578,750 | |||||||||||||
| {59} | Class A-4 | $ | 71,500,000 | 0 | 4.22 | % | 30 | 30/360 | 251,442 | |||||||||||||
| {60} | Class B | $ | 65,120,000 | 0 | 4.49 | % | 30 | 30/360 | 243,658 | |||||||||||||
| {61} | Class C | $ | 60,000,000 | 0 | 4.58 | % | 30 | 30/360 | 229,000 | |||||||||||||
3
RECONCILIATION OF INDENTURE COLLECTION ACCOUNT
| Available Funds: | ||||||||||||
| {62} | 2024-3 Exchange Note Collections | {62} | $ | 51,687,491 | ||||||||
| {63} | Investment Earnings | {63} | 0 | |||||||||
| {64} | Investment Earnings - transferred from Exchange Note Collection Account | {64} | 189,849 | |||||||||
| {65} | Investment Earnings - and amounts released from Reserve Account pursuant to Section 2.14(b)(ii) of Servicing Supplement | {65} | 12,970 | |||||||||
| {66} | Optional Purchase Price | {66} | 0 | |||||||||
| {67} | Indenture Section 5.4 disposition of Collateral | {67} | 0 | |||||||||
| {68} | Available Funds: | {68} | 51,890,310 | |||||||||
| {69} | Reserve Account Withdrawal Amount | {69} | 0 | |||||||||
| {70} | Total Distributable Funds: | {70} | 51,890,310 | |||||||||
| Distributions: | ||||||||||||
| {71} | To the Successor Servicer, unpaid transition expenses, pro rata | {71} | 0 | |||||||||
| {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} | 250 | |||||||||
| {74} | To the Asset Representations Reviewer, any accrued and unpaid fees & expenses, pro rata | {74} | 0 | |||||||||
| {75} | Class A-1 Noteholders' Interest Distributable Amount pari passu | {75} | 0 | |||||||||
| {76} | Class A-2A Noteholders' Interest Distributable Amount pari passu | {76} | 528,797 | |||||||||
| {77} | Class A-2B Noteholders' Interest Distributable Amount pari passu | {77} | 753,131 | |||||||||
| {78} | Class A-3 Noteholders' Interest Distributable Amount pari passu | {78} | 1,578,750 | |||||||||
| {79} | Class A-4 Noteholders' Interest Distributable Amount pari passu | {79} | 251,442 | |||||||||
| {80} | Class A Noteholders' Principal Parity Amount or Matured Principal Shortfall | {80} | 0 | |||||||||
| {81} | Class B Noteholders' Interest Distributable Amount | {81} | 243,658 | |||||||||
| {82} | Class B Noteholders' Principal Parity Amount or Matured Principal Shortfall | {82} | 0 | |||||||||
| {83} | Class C Noteholders' Interest Distributable Amount | {83} | 229,000 | |||||||||
| {84} | Class C Noteholders' Principal Parity Amount or Matured Principal Shortfall | {84} | 0 | |||||||||
| {85} | Noteholders' Principal Distributable Amount | {85} | 40,695,751 | |||||||||
| {86} | To the Reserve Account, the Reserve Account Required Amount | {86} | 0 | |||||||||
| {87} | To the Noteholders, the Accelerated Principal Amount (as calculated below) | {87} | 0 | |||||||||
| {88} | To the Successor Servicer, any amounts in excess of the caps set forth, pro rata | {88} | 0 | |||||||||
| {89} | To the Indenture Trustee, any amounts in excess of the caps set forth, pro rata | {89} | 0 | |||||||||
| {90} | To the Asset Representations Reviewer, any amounts in excess of the caps set forth, pro rata | {90} | 0 | |||||||||
| {91} | To the Issuer Owner Trustee, any amounts in excess of the caps set forth, pro rata | {91} | 0 | |||||||||
| {92} | To the Issuer Trust Certificateholders, the aggregate amount remaining | {92} | 7,609,114 | |||||||||
| {93} | Total Distributions: | {93} | $ | 51,890,310 | ||||||||
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) |
|||||||||||||||||
| {94} | Class A | $ | 840,046,975 | $ | 1,085,446,466 | $ | 0 | $ | 48,777,523 | $ | 0 | |||||||||||
| {95} | Class B | 905,166,975 | 1,085,446,466 | 0 | 48,533,865 | 0 | ||||||||||||||||
| {96} | Class C | 965,166,975 | 1,085,446,466 | 0 | 48,304,865 | 0 | ||||||||||||||||
ACCELERATED PRINCIPAL AMOUNT CALCULATION
| {97} | Excess Total Available Funds | {97} | $ | 7,609,114 | ||||||||||||||||
| {98} | Beginning Note Balance | {98} | 965,166,975 | |||||||||||||||||
| {99} | Principal payments through Indenture Section 8.3 (a) (i) through (xii) | {99} | 40,695,751 | |||||||||||||||||
| {100} | Pro-Forma Note Balance | {100} | 924,471,224 | |||||||||||||||||
| {101} | Ending Aggregate Securitization Value | {101} | 1,085,446,466 | |||||||||||||||||
| {102} | 11.0% of Aggregate Securitization Value as of Cutoff until Class A-2 is paid in full, 10.5% Thereafter ($160,975,242) | {102} | 160,975,242 | |||||||||||||||||
| {103} | Required Pro Forma Note Balance {101} - {102} | {103} | 924,471,224 | |||||||||||||||||
| {104} | Excess of Pro Forma Balance minus Required Pro Forma Balance {100} - {103} | {104} | 0 | |||||||||||||||||
| {105} | Lesser of Excess Total Available Funds and Excess of Pro Forma Note Balance | {105} | $ | 0 |
OVERCOLLATERALIZATION CALCULATIONS
| Exchange Note: | ||||||||||||
| {106} | Ending Aggregate Securitization Value | {106} | $ | 1,085,446,466 | ||||||||
| {107} | End of Period Note Balance | {107} | 1,012,035,171 | |||||||||
| {108} | Overcollateralization | {108} | 73,411,295 | |||||||||
| {109} | Overcollateralization % | {109} | 6.76 | % | ||||||||
| Asset Backed Notes: | ||||||||||||
| {110} | Ending Aggregate Securitization Value | {110} | 1,085,446,466 | |||||||||
| {111} | End of Period Note Balance | {111} | 924,471,224 | |||||||||
| {112} | Overcollateralization | {112} | 160,975,242 | |||||||||
| {113} | Overcollateralization % | {113} | 14.83 | % | ||||||||
5
RECONCILIATION OF 2024-3 CASH RESERVE ACCOUNT
| {114} | Specified Reserve Balance | {114} | $ | 3,658,528 | ||||||||
| {115} | Beginning of Period Reserve Account balance | {115} | $ | 3,658,528 | ||||||||
| {116} | Investment Earnings | {116} | 12,970 | |||||||||
| {117} | From the Indenture Collection Account, the Reserve Account Required Amount | {117} | 0 | |||||||||
| {118} | To the Indenture Collection Account, the Reserve Account Withdrawal Amount | {118} | 0 | |||||||||
| {119} | Total Reserve balance available: | {119} | 3,671,498 | |||||||||
| {120} | Specified Reserve Balance | {120} | 3,658,528 | |||||||||
| {121} | Release Excess Cash to Indenture Collection Available Funds | {121} | 12,970 | |||||||||
| {122} | End of period Reserve Account balance | {122} | $ | 3,658,528 |
ASSET REPRESENTATIONS REVIEW DELINQUENCY TRIGGER
| Dollars | Percentage | |||||||||||
| {123} | Receivables with Scheduled Payment delinquent 61 days or more | {123} | $ | 2,493,644 | 0.23 | % | ||||||
| {124} | Compliance (Trigger Violation is a Delinquency Rate Greater Than 1.40%) | {124} | Yes | |||||||||
| By: | /s/ Randal L. Willis | |
| Name: | Randal L. Willis | |
| Title: | Senior Vice President, Securitization & Conduit Reporting | |
| Date: | September 17, 2025 |
6
GM Financial
GMALT 2024-3
Supplemental Monthly Data
August 31, 2025
|
Aggregate Securitization Value |
Residual Value |
|||||||
| Beginning of Period | $ | 1,126,142,217 | $ | 942,873,670 | ||||
| Change | (40,695,751 | ) | (25,874,361 | ) | ||||
| End of Period | $ | 1,085,446,466 | $ | 916,999,309 | ||||
| Residual Value as % of Agg. Securitization Value | 84.48 | % | ||||||
Delinquency
| Leases with scheduled payment delinquent |
Number of Leases |
Agg. Securitization Value |
Percentage(1) | |||||||||
| 0 - 30 days | 38,425 | 1,078,044,202 | 99.32 | % | ||||||||
| 31 - 60 days | 156 | 4,908,620 | 0.45 | % | ||||||||
| 61 - 90 days | 63 | 2,163,166 | 0.20 | % | ||||||||
| 91 - 120 days | 10 | 330,478 | 0.03 | % | ||||||||
| Total | 38,654 | 1,085,446,466 | 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 | 604 | 16,700,606 | 4,722 | 144,551,263 | ||||||||||||
| Standard terminations | 138 | 2,886,309 | 719 | 15,835,114 | ||||||||||||
| Total retained by lessee | 742 | 19,586,915 | 5,441 | 160,386,377 | ||||||||||||
| Returned Vehicles | ||||||||||||||||
| Early terminations | 154 | 4,039,647 | 1,045 | 25,913,382 | ||||||||||||
| Standard terminations | 127 | 3,103,026 | 635 | 15,391,695 | ||||||||||||
| Total returned to dealer | 281 | 7,142,673 | 1,680 | 41,305,077 | ||||||||||||
| Charged off leases / Repossessed vehicles | 66 | 2,109,718 | 686 | 20,731,725 | ||||||||||||
| Repurchases | 0 | 0 | 0 | 0 | ||||||||||||
| Other | 0 | 0 | 0 | 0 | ||||||||||||
| Total terminations | 1,089 | 28,839,306 | 7,807 | 222,423,179 | ||||||||||||
Lease Extensions/Deferments
| Current Period | ||||||||||||
|
Number of Leases |
Agg. Securitization Value |
Percentage | ||||||||||
| Term Extensions | 58 | 1,259,739 | 0.11 | % | ||||||||
| Deferments | 7 | 233,456 | 0.02 | % | ||||||||
7
Net Credit (Gain) Loss
|
Current Period |
Cumulative | |||||||
| Agg. Securitized Value of early term defaults | 2,109,718 | 20,731,725 | ||||||
| less: Sales proceeds | 1,863,598 | 19,670,471 | ||||||
| less: Excess wear and excess mileage received | 0 | 730 | ||||||
| less: Other amounts received | 0 | 0 | ||||||
| Net Credit (Gain) Loss | 246,120 | 1,060,524 | ||||||
Residual (Gain) Loss on Returned Vehicles
| Agg. Securitized Value of returned vehicles sold by Servicer | 7,124,825 | 41,191,578 | ||||||
| add: Reimbursement of outstanding residual advance | N/A | N/A | ||||||
| less: Sales proceeds | 8,092,874 | 46,039,041 | ||||||
| less: Excess wear and excess mileage received | 29,070 | 154,950 | ||||||
| less: Other recovery amounts | 0 | 0 | ||||||
| Residual (Gain) Loss | (997,119 | ) | (5,002,413 | ) |
|
Current Period |
Prev. Month | |||||||
| Prepay Speed | 1.1147 | % | 1.1288 | % | ||||
| Return Rate based on Scheduled to Terminate(2) | 45.3958 | % | 57.5492 | % | ||||
| Return Rate based on Terminated Leases(3) | 25.8035 | % | 24.6948 | % | ||||
| (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
GM Financial Automobile Leasing Trust 2024-3 published this content on September 30, 2025, and is solely responsible for the information contained herein. Distributed via EDGAR on September 30, 2025 at 11:55 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]