GM Financial Trust 2025-3 Enters Auto Lease Securitization Deal

TL;DR

GM Financial just dropped a new auto lease securitization trust (2025-3) - more funding secured.

AI Summary

On August 5, 2025, GM Financial Automobile Leasing Trust 2025-3, a trust managed by GMF Leasing LLC, entered into a material definitive agreement related to its asset-backed securities program. The filing details the structure and terms of this new trust, which is backed by auto leases.

Why It Matters

This filing indicates ongoing securitization activity by GM Financial, providing liquidity and funding for its auto leasing operations.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of a securitization trust formation, not indicating any unusual financial distress or significant operational changes.

Key Players & Entities

• GM Financial Automobile Leasing Trust 2025-3 (company) — Registrant and issuer of asset-backed securities
• GMF Leasing LLC (company) — Manager of the trust
• August 5, 2025 (date) — Date of the earliest event reported
• 801 CHERRY STREET, SUITE 3500 (address) — Business and mailing address for both entities
• FORT WORTH, TX 76102 (address) — Business and mailing address for both entities

FAQ

Key Financial Figures

• $134,310,000 — 2025-3 (the Issuing Entity ), to issue $134,310,000 Class A-1 4.359% Asset Backed Notes (th
• $215,600,000 — et Backed Notes (the Class A-1 Notes ), $215,600,000 Class A-2-A 4.19% Asset Backed Notes (t
• $135,000,000 — Backed Notes (the Class A-2-A Notes ), $135,000,000 Class A-2-B Floating Rate Notes (the Cl
• $350,500,000 — g Rate Notes (the Class A-2-B Notes ), $350,500,000 Class A-3 4.17% Asset Backed Notes (the
• $65,000,000 — et Backed Notes (the Class A-3 Notes ), $65,000,000 Class A-4 4.20% Asset Backed Notes (the
• $49,190,000 — e Class A-3 Notes, the Class A Notes ), $49,190,000 Class B 4.41% Asset Backed Notes (the C
• $45,330,000 — t Backed Notes (the Class B Notes ) and $45,330,000 Class C 4.60% Asset Backed Notes (the C

Filing Documents

• d41881d8k.htm (8-K) — 31KB
• d41881dex11.htm (EX-1.1) — 197KB
• d41881dex41.htm (EX-4.1) — 652KB
• d41881dex43.htm (EX-4.3) — 306KB
• d41881dex45.htm (EX-4.5) — 231KB
• d41881dex101.htm (EX-10.1) — 72KB
• d41881dex102.htm (EX-10.2) — 76KB
• d41881dex104.htm (EX-10.4) — 160KB
• d41881dex105.htm (EX-10.5) — 205KB
• d41881dex361.htm (EX-36.1) — 6KB
• d41881dex991.htm (EX-99.1) — 69KB
• 0001193125-25-175511.txt ( ) — 2007KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement . GMF Leasing LLC, as depositor (the Depositor ) and AmeriCredit Financial Services, Inc. d/b/a GM Financial ( GM Financial ), as sponsor, will cause a newly formed issuing entity, GM Financial Automobile Leasing Trust 2025-3 (the Issuing Entity ), to issue $134,310,000 Class A-1 4.359% Asset Backed Notes (the Class A-1 Notes ), $215,600,000 Class A-2-A 4.19% Asset Backed Notes (the Class A-2-A Notes ), $135,000,000 Class A-2-B Floating Rate Notes (the Class A-2-B Notes ), $350,500,000 Class A-3 4.17% Asset Backed Notes (the Class A-3 Notes ), $65,000,000 Class A-4 4.20% Asset Backed Notes (the Class A-4 Notes and, together with the Class A-1 Notes, the Class A-2-A Notes, the Class A-2-B Notes and the Class A-3 Notes, the Class A Notes ), $49,190,000 Class B 4.41% Asset Backed Notes (the Class B Notes ) and $45,330,000 Class C 4.60% Asset Backed Notes (the Class C Notes and, collectively with the Class A Notes and the Class B Notes, the Publicly Offered Notes or the Notes ), and an Asset Backed Certificate (the Certificate ), on August 13, 2025 (the Closing Date ). The Publicly Offered Notes will be registered under the Registration Statement filed by the Depositor with the Securities and Exchange Commission under file number 333-285619 (the Registration Statement ). This Current Report on Form 8-K is being filed to satisfy an undertaking to file copies of certain agreements to be executed in connection with the issuance of the Publicly Offered Notes, the forms of which were filed as Exhibits to the Registration Statement. The Notes evidence indebtedness of the Issuing Entity, the assets of which consist primarily of an exchange note, which will be backed by a designated pool of automobile, light truck and utility vehicle leases and the corresponding leased vehicles (the Lease Assets ). The Publicly Offered Notes will be sold to J.P. Morgan Securities LLC ( J.P. Morgan ), Barclays Capital Inc. ( Barclays ),

01. Other Events

Item 8.01. Other Events . The Issuing Entity was formed, and the Certificate will be issued, pursuant to the Trust Agreement attached hereto as Exhibit 4.3 , dated as of June 13, 2025, as amended and restated as of July 1, 2025 (the Trust Agreement ), between the Depositor and Wilmington Trust Company, as owner trustee (the Owner Trustee ). The Notes will be issued pursuant to the Indenture attached hereto as Exhibit 4.1 , dated as of July 1, 2025 (the Indenture ), between the Issuing Entity and Computershare Trust Company, N.A. ( Computershare ), as indenture trustee (in such capacity, the Indenture Trustee ). Pursuant to the 2025-3 Exchange Note Supplement attached hereto as Exhibit 4.5 , dated as of July 1, 2025 (the Exchange Note Supplement ), ACAR Leasing Ltd. (the Titling Trust ), as borrower, GM Financial, as lender and as servicer (in such capacity, the Servicer ) and Computershare, as collateral agent (in such capacity, the Collateral Agent ) and as administrative agent (the Administrative Agent ), the Titling Trust will issue an Exchange Note (the Exchange 2 Note ) to GM Financial on the Closing Date and will designate a designated pool of collateral lease agreements and collateral leased vehicles (the Designated Pool ) to support the Exchange Note. Pursuant to the 2025-3 Exchange Note Sale Agreement attached hereto as Exhibit 10.1 , dated as of July 1, 2025 (the Exchange Note Sale Agreement ), between GM Financial and the Depositor, on the Closing Date, GM Financial will sell to the Depositor, and the Depositor will purchase from GM Financial, all of GM Financials right, title and interest in, to and under the Exchange Note and the proceeds thereof without recourse. Pursuant to the 2025-3 Exchange Note Transfer Agreement attached hereto as Exhibit 10.2 , dated as of July 1, 2025 (the Exchange Note Transfer Agreement ), between the Depositor and the Issuing Entity, on the Closing Date the Depositor will sell to the Issuing Entity and the Issuing

01. Financial Statements, Pro Forma

Item 9.01. Financial Statements, Pro Forma Financial Information and Exhibits . (a) Not applicable. (b) Not applicable. (c) Not applicable. (d) Exhibits: 1.1 Underwriting Agreement, dated as of August 5, 2025, among GM Financial, the Depositor and the Representatives. 4.1 Indenture, dated as of July 1, 2025, between the Issuing Entity and the Indenture Trustee. 3 4.3 Amended and Restated Trust Agreement, dated as July 1, 2025, between the Depositor and the Owner Trustee. 4.5 2025-3 Exchange Note Supplement, dated as of July 1, 2025, among the Titling Trust, GM Financial, as lender, the Servicer, the Collateral Agent and the Administrative Agent. 10.1 2025-3 Exchange Note Sale Agreement, dated as of July 1, 2025, between the GM Financial and the Depositor. 10.2 2025-3 Exchange Note Transfer Agreement, dated as of July 1, 2025, between the Depositor and the Issuing Entity. 10.4 2025-3 Servicing Supplement, dated as of July 1, 2025, among the Titling Trust, the Servicer, the Settlor, the Collateral Agent and the Indenture Trustee. 10.5 Asset Representations Review Agreement, dated July 1, 2025, among the Issuing Entity, GM Financial, as Servicer, and Clayton, as Asset Representations Reviewer. 36.1 Depositor certification for shelf offerings of asset-backed securities. 99.1 Administration Agreement, dated as of July 1, 2025, among the Depositor, GM Financial, as administrator, and the Indenture Trustee. 4

SIGNATURES

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 hereunto duly authorized. GM FINANCIAL AUTOMOBILE LEASING TRUST 2025-3 By: AmeriCredit Financial Services, Inc. d/b/a GM Financial, as Servicer By: /s/ Frank E. Brown III Name: Frank E. Brown III Title: Senior Vice President, Corporate Counsel and Secretary Dated: August 7, 2025 5

View Full Filing

View this 8-K filing on SEC EDGAR