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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
X ANNUAL REPORT PURSUANT TO SECTION 13 OF THE SECURITIES EXCHANGE
- --- ACT OF 1934 FOR THE YEAR ENDED DECEMBER 31, 2000, OR
___ TRANSITION REPORT PURSUANT TO SECTION 13 OF THE SECURITIES EXCHANGE
ACT OF 1934 FOR THE TRANSITION PERIOD FROM _________ TO __________.
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-1 333-06039
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-2 333-06039
------------------------------------------- ---------------
(Exact name of registrant as Commission file
specified in its charter) number
A Delaware Business Trust 38-3082892
- -------------------------------- ------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
c/o Bankers Trust (Delaware)
1011 Centre Road, Suite 200
Wilmington, Delaware 19805
- ---------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 250-6864
--------------
Securities registered pursuant to Section 12(b) of the Act: (None)
Section 12(g) of the Act: (None).
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 of the Securities Exchange Act of 1934 during the
preceding 12 months, and (2) has been subject to such filing requirements for
the past 90 days. Yes X. No .
PART I
ITEM 1. BUSINESS
Each Capital Auto Receivables Asset Trust, (the "Trust") was formed pursuant to
a Trust Agreement, between Capital Auto Receivables, Inc. (the "Seller") and
Bankers Trust (Delaware), as Owner Trustee of the related Trust. The Trusts have
issued Asset-Backed Notes (the "Notes"). The Notes are issued and secured
pursuant to Indentures between the related Trust and Bank One, National
Association as Indenture Trustee. Each Trust has also issued Asset-Backed
Certificates.
CAPITAL AUTO RECEIVABLES ASSET TRUST
-------------------------------------
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-1
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-2
PART II
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
Each of the Trusts was formed pursuant to a trust agreement between Capital Auto
Receivables, Inc. (the "Seller") and Bankers Trust (Delaware), as Owner Trustee,
and issued the following Asset-Backed Notes and Certificates. Each Trust
acquired retail finance receivables from the Seller in the aggregate amount as
shown below in exchange for Asset-Backed Notes and Asset-Backed Certificates
representing undivided equity interests in the respective Trust. Each Trust's
property includes a pool of retail instalment sale contracts secured by
automobiles and light trucks, certain monies due thereunder, security interests
in the vehicles financed thereby, interest rate swap and certain other property.
Retail
Finance
Date of Sale Receivables
and Servicing Aggregate Asset-Backed Asset-Backed
Trust Agreement Amount Notes Certificates
- ---------- ---------------- --------- ---------------- ------------
(millions) (millions) (millions)
Capital April 19, 2000 $2,193.8 Class A-1 $ 455.0 $ 65.8
Auto (Private Placement)
Receivables Class A-2 390.0
Asset Trust Class A-3 319.0
2000-1 Class A-4 390.0
Class A-5 58.9
Variable Pay Term
515.1
(Private Placement)
Capital December 14, 2000 $2,260.0 Class A-1 $ 463.0 $ 61.8
Auto (Private Placement) (Private
Receivables Placement)
Asset Trust Class A-2 362.0
2000-2 Class A-3 267.0
Class A-4 351.3
Variable Pay Revolving
557.0
(Private Placement)
General Motors Acceptance Corporation, the originator of the retail receivables,
continues to service the receivables for the aforementioned Trusts and receives
compensation and fees for such services. Investors receive periodic payments of
principal and interest for each class of Notes and Certificates as the
receivables are liquidated.
--------------------
II-1
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
CROSS REFERENCE SHEET
Exhibit No. Caption Page
- ----------- ---------------------------------------------------- ----
-- Capital Auto Receivables Asset Trust 2000-1, Independent
Auditors' Report, Financial Statements and Selected II-3
Quarterly Data for the Year Ended December 31, 2000.
-- Capital Auto Receivables Asset Trust 2000-2, Independent
Auditors' Report, Financial Statements and Selected II-9
Quarterly Data for the Year Ended December 31, 2000.
27.1 Financial Data Schedule for Capital Auto Receivables
Asset Trust 2000-1 and 2000-2 (for SEC electronic --
Filing purposes only).
---------------------
II-2
INDEPENDENT AUDITORS' REPORT
The Capital Auto Receivables Asset Trust 2000-1, its Certificateholders, Capital
Auto Receivables, Inc., and Bankers Trust (Delaware), Owner Trustee:
We have audited the accompanying Statement of Assets, Liabilities and Equity of
the Capital Auto Receivables Asset Trust 2000-1 as of December 31, 2000 and the
related Statement of Distributable Income for the period April 19, 2000 (date of
inception) to December 31, 2000. These financial statements are the
responsibility of the Trust's management. Our responsibility is to express an
opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
As described in Note 1 to the financial statements, these financial statements
were prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than accounting principles generally
accepted in the United States of America.
In our opinion, such financial statements present fairly, in all material
respects, the assets, liabilities and equity arising from cash transactions of
the Capital Auto Receivables Asset Trust 2000-1 at December 31, 2000 and its
distributable income for the period April 19, 2000 (date of inception) to
December 31, 2000, on the basis of accounting described in Note 1.
s\ Deloitte & Touche LLP
- ------------------------
Deloitte & Touche LLP
600 Renaissance Center
Detroit, Michigan 48243
March 9, 2001
II-3
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-1
STATEMENT OF ASSETS, LIABILITIES AND EQUITY
December 31, 2000
----------------------
(in millions of dollars)
ASSETS
Receivables-(Note 2)....................... $1,635.6
--------
TOTAL ASSETS .............................. $1,635.6
========
LIABILITIES AND EQUITY (NOTES 2 and 3)
Asset-Backed Notes ........................ $1,586.5
Asset-Backed Certificates (Equity) ........ 49.1
--------
TOTAL LIABILITIES AND EQUITY .............. $1,635.6
========
Reference should be made to the Notes to Financial Statements.
II-4
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-1
STATEMENT OF DISTRIBUTABLE INCOME
Year Ended December 31, 2000*
--------------------------------
(in millions of dollars)
Distributable Income
Allocable to Principal
Asset-Backed Notes ........................ $ 541.5
Asset-Backed Certificates (Equity) ........ 16.7
-------
Total Principal $ 558.2
-------
Allocable to Interest
Asset-Backed Notes ........................ $ 84.4
Asset-Backed Certificates (Equity) ........ 2.8
-------
Total Interest $ 87.2
-------
Distributable Income ............................. $ 645.4
=======
Income Distributed ............................... $ 645.4
=======
*Represents the period April 19, 2000 (inception) through December 31, 2000.
Reference should be made to the Notes to Financial Statements.
II-5
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-1
NOTES TO FINANCIAL STATEMENTS
NOTE 1. BASIS OF ACCOUNTING
The financial statements of Capital Auto Receivables Asset Trust 2000-1 (the
"Trust") are prepared on the basis of cash receipts and cash disbursements. Such
financial statements differ from financial statements prepared in accordance
with accounting principles generally accepted in the United States of America in
that interest income and the related assets are recognized when received rather
than when earned and distributions to Noteholders and Certificateholders are
recognized when paid rather than when the respective obligation is incurred.
Certain expenses of the Trust are paid by Capital Auto Receivables, Inc. (the
"Seller"). Capitalized terms are defined in the prospectus dated April 11, 2000.
The Trust uses interest rate swaps to alter its interest rate exposure. The
swaps are executed as an integral element of a specific investment transaction.
As the Trust's financial statements are prepared on the basis of cash receipts
and cash disbursements, the impact of the interest rate swaps are reflected in
the cash flows shown in the Statement of Distributable Income.
NOTE 2. SALE OF NOTES AND CERTIFICATES
On April 19, 2000, Capital Auto Receivables Asset Trust 2000-1 acquired retail
finance receivables aggregating approximately $2,193.8 million from the Seller
in exchange for six classes of Asset-Backed Notes representing indebtedness of
the Trust of $455.0 million Class A-1; $390.0 million Class A-2; $319.0 million
Class A-3; $390.0 million Class A-4; $58.9 million Class A-5; $515.1 million
Initial Variable Pay Term Note; and $65.8 million of Asset-Backed Certificates
representing equity interests in the Trust. The Trust property includes a pool
of retail instalment sale contracts for new and used automobiles and light
trucks, monies due or received thereunder, security interests in the vehicles
financed thereby, interest rate swap and certain other property. The Servicer
has the option to repurchase the remaining receivables as of the last day of any
month on or after which the principal balance declines to 10% or less of the
aggregate amount financed.
Note 3: PRINCIPAL AND INTEREST PAYMENTS
Payments of interest on the Class A Notes, the Initial Variable Pay Term Note
and the Certificates will be made on the fifteenth day of each month, or, if any
such day is not a Business Day, on the next succeeding Business Day, commencing
May 15, 2000 (each a "Distribution Date"). In general, no principal payments
will be made on any class of the Class A Notes until its Targeted Final
Distribution Date. On the Targeted Final Distribution Date for each class of
Class A Notes, the Trust will pay the entire principal balance of that class of
Class A Notes, to the extent of funds available therefor. The Trust may issue
additional Variable Pay Term Notes on the Targeted Final Distribution Date for
each class of Class A Notes, subject to certain conditions. If issued, the
proceeds will be available to make payments of principal on the Targeted Final
Distribution Date for each of the Class A Notes. The Targeted Final Distribution
Dates for the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-5 Notes are
as follows, respectively: October 2000, April 2001, October 2001, April 2002 and
April 2003.
Amounts available to pay principal on the Class A Notes on each Distribution
Date that is not a Targeted Final Distribution Date for a class of Class A Notes
will be applied to make principal payments on the Variable Pay Term Notes and
distribution of Certificate Balance, pro rata, based on the outstanding amount
of the Notes and Certificates, to the extent of funds available therefor.
Payments of principal on the Variable Pay Term Notes on the Targeted Final
Distribution Dates for each class of Class A Notes will also be applied to the
extent of funds available therefor. The Final Scheduled Distribution Date for
the Variable Pay Term Notes will occur on the Distribution Date in September
2005.
II-6
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-1
NOTES TO FINANCIAL STATEMENTS
NOTE 3. PRINCIPAL AND INTEREST PAYMENTS (concluded)
On each Distribution Date, Certificateholders will receive, in respect of the
Certificate Balance, an amount equal to the Certificateholders' Principal
Distributable Amount, a pro rata portion based on the outstanding amount of the
Notes and Certificates, to the extent of funds available therefor. The Final
Scheduled Distribution Date for the Certificates will occur on the Distribution
Date in September 2005.
Interest on the outstanding principal amount of the Notes accrues from April 19,
2000 or from the most recent Distribution Date on which interest has been paid
to but excluding the following Distribution Date. The Class A-1 Notes receive
interest at the rate of 6.52% per annum. The Class A-2 Notes receive interest at
the rate of 6.81% per annum. The Class A-3 Notes receive interest at the rate of
6.96% per annum. The Class A-4 Notes receive interest at the rate of 7.00% per
annum. The Class A-5 Notes receive interest at the rate of 7.07% per annum. The
Initial Variable Pay Term Note receives interest at the rate of one Month LIBOR
plus 0.07% per annum. Interest on Class A-1 Notes and the Initial Variable Pay
Term Note is calculated on the basis of actual days elapsed during the period
for which interest is payable and a 360-day year. Interest on Class A-2, Class
A-3, Class A-4 and Class A-5 Notes is calculated on the basis of a 360-day year
consisting of twelve 30-day months. On each Distribution Date, the Owner Trustee
distributes pro rata to Certificateholders accrued interest at the pass-through
rate of 7.28% per annum on the outstanding Certificate Balance.
The Initial Variable Pay Term Noteholders received interest at a weighted
average rate of 6.58% per annum from April 19, 2000 through December 15, 2000.
On October 16, 2000, the Trust issued a $455,000,000 Variable Pay Term Note
Class 2 (VPTN-2). The Trust used the proceeds to pay the Class A-1 Notes that
matured on October 16, 2000. The VPTN-2 receives interest at a rate of one Month
LIBOR plus 0.12% per annum.
The VPTN-2 Noteholder received interest at a weighted average rate of 6.74% per
annum from October 16, 2000 through December 15, 2000.
NOTE 4. FEDERAL INCOME TAX
The Trust is classified as a grantor trust for federal income tax purposes. Each
Noteholder by the acceptance of a Note agrees to treat the Notes as indebtedness
in the Trust for federal, state and local income and franchise tax purposes.
Each Certificateholder by the acceptance of a Certificate agrees to treat the
Certificates as equity interests in a grantor trust for federal, state and local
income and franchise tax purposes. A portion of the Certificates was issued to
the Seller on the closing date.
II-7
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-1
SUPPLEMENTARY FINANCIAL DATA (unaudited)
SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME
2000 Quarters Principal Interest Total
- ------------------------------------ --------- -------- -----
(in millions of dollars)
First quarter ...................... $ 0.0 $ 0.0 $ 0.0
Second quarter*..................... 142.0 22.8 164.8
Third quarter ...................... 216.0 34.0 250.0
Fourth quarter ..................... 200.2 30.4 230.6
--------- -------- ---------
Total ......................... $ 558.2 $ 87.2 $ 645.4
========= ======== =========
*Represents the period April 19, 2000 (inception) through June 30, 2000.
II-8
INDEPENDENT AUDITORS' REPORT
The Capital Auto Receivables Asset Trust 2000-2, its Certificateholders, Capital
Auto Receivables, Inc., and Bankers Trust (Delaware), Owner Trustee:
We have audited the accompanying Statement of Assets, Liabilities and Equity of
the Capital Auto Receivables Asset Trust 2000-2 as of December 31, 2000 and the
related Statement of Distributable Income for the period December 14, 2000 (date
of inception) to December 31, 2000. These financial statements are the
responsibility of the Trust's management. Our responsibility is to express an
opinion on these financial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted
in the United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
As described in Note 1 to the financial statements, these financial statements
were prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than accounting principles generally
accepted in the United States of America.
In our opinion, such financial statements present fairly, in all material
respects, the assets, liabilities and equity arising from cash transactions of
the Capital Auto Receivables Asset Trust 2000-2 at December 31, 2000 and its
distributable income for the period December 14, 2000 (date of inception) to
December 31, 2000, on the basis of accounting described in Note 1.
s\ Deloitte & Touche LLP
- ------------------------
Deloitte & Touche LLP
600 Renaissance Center
Detroit, Michigan 48243
March 9, 2001
II-9
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-2
STATEMENT OF ASSETS, LIABILITIES AND EQUITY
December 31, 2000
----------------------
(in millions of dollars)
ASSETS
Receivables-(Discounted)(Note 2)........... $2,062.1
--------
TOTAL ASSETS .............................. $2,062.1
========
LIABILITIES AND EQUITY (NOTES 2 and 3)
Asset-Backed Notes ........................ $2,000.3
Asset-Backed Certificates (Equity) ........ 61.8
--------
TOTAL LIABILITIES AND EQUITY .............. $2,062.1
========
Reference should be made to the Notes to Financial Statements.
II-10
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-2
STATEMENT OF DISTRIBUTABLE INCOME
Year Ended December 31, 2000*
-----------------------------
(in millions of dollars)
Distributable Income
Allocable to Principal
Asset-Backed Notes ........................ $ 0.0
Asset-Backed Certificates (Equity) ........ 0.0
-----
Total Principal $ 0.0
-----
Allocable to Interest
Asset-Backed Notes ........................ $ 0.0
Asset-Backed Certificates (Equity) ........ 0.0
------
Total Interest $ 0.0
------
Distributable Income ............................. $ 0.0
======
Income Distributed ............................... $ 0.0
======
*Represents the period December 14, 2000 (inception) through December 31, 2000.
Reference should be made to the Notes to Financial Statements.
II-11
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-2
NOTES TO FINANCIAL STATEMENTS
NOTE 1. BASIS OF ACCOUNTING
The financial statements of Capital Auto Receivables Asset Trust 2000-2 (the
"Trust") are prepared on the basis of cash receipts and cash disbursements. Such
financial statements differ from financial statements prepared in accordance
with accounting principles generally accepted in the United States of America in
that interest income and the related assets are recognized when received rather
than when earned and distributions to Noteholders and Certificateholders are
recognized when paid rather than when the respective obligation is incurred.
Certain expenses of the Trust are paid by Capital Auto Receivables, Inc. (the
"Seller"). Capitalized terms are defined in the prospectus dated November 29,
2000.
The Trust uses interest rate swaps to alter its interest rate exposure. The
swaps are executed as an integral element of a specific investment transaction.
As the Trust's financial statements are prepared on the basis of cash receipts
and cash disbursements, the impact of the interest rate swaps are reflected in
the cash flows shown in the Statement of Distributable Income.
NOTE 2. SALE OF NOTES AND CERTIFICATES
On December 14, 2000, Capital Auto Receivables Asset Trust 2000-2 acquired
retail finance receivables aggregating approximately $2,062.1 million at a
discount of $197.9 million from the Seller in exchange for five classes of
Asset-Backed Notes representing indebtedness of the Trust of $463.0 million
Class A-1; $362.0 million Class A-2; $267.0 million Class A-3; $351.3 million
Class A-4; $557.0 million Initial Variable Pay Revolving Note; and $61.8 million
of Asset-Backed Certificates representing equity interests in the Trust. The
Trust property includes a pool of retail instalment sale contracts for new
automobiles and light trucks, monies due or received thereunder, security
interests in the vehicles financed thereby, interest rate swap and certain other
property. The Servicer has the option to repurchase the remaining receivables as
of the last day of any month on or after which the principal balance declines to
10% or less of the aggregate amount financed.
NOTE 3. PRINCIPAL AND INTEREST PAYMENTS
Payments of interest on the Class A Notes, the Initial Variable Pay Revolving
Note and Certificates will be made on the fifteenth day of each month or, if any
such day is not a Business Day, on the next succeeding Business Day, commencing
on January 16, 2001 (each a "Distribution Date"). In general, no principal
payments will be made on any class of Class A Notes until its Targeted Final
Distribution Date. On the Targeted Final Distribution Date for each class of
Class A Notes, the Trust will pay the entire principal balance of that class of
Class A Notes, to the extent of funds available therefor. On the Targeted Final
Distribution Date for a class of Class A Notes, the proceeds from any
incremental advances under the Variable Pay Revolving Note will also be
available to make principal payments. The Targeted Final Distribution Dates for
the Class A-1, Class A-2, Class A-3, and Class A-4 are as follows, respectively:
June 2001, December 2001, June 2002, and December 2002.
Amounts available to pay principal on the Class A Notes on each Distribution
Date that is not a Targeted Final Distribution Date for a class of Class A Notes
will be applied to make principal payments on the Variable Pay Revolving Note
and distributions of Certificate Balance, pro rata, based on the outstanding
amount of the Notes and Certificates, to the extent of funds available therefor.
Payments of principal on the Variable Pay Revolving Note on the Targeted Final
Distribution Dates for each class of Class A Notes will also be applied to the
extent of funds available therefor. The Final Scheduled Distribution Date for
the Variable Pay Revolving Note will occur on the Distribution Date in July
2006.
II-12
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-2
NOTES TO FINANCIAL STATEMENTS
NOTE 3. PRINCIPAL AND INTEREST PAYMENTS (concluded)
On each Distribution Date, Certificateholders will receive, in respect of the
Certificate Balance, an amount equal to the Certificateholders' Principal
Distributable Amount, a pro rata portion based on the outstanding amount of the
Notes and Certificates, to the extent of funds available therefor. The Final
Scheduled Distribution Date for the Certificates will occur on the Distribution
Date in July 2006.
Interest on the outstanding principal amount of the Notes accrues from December
14, 2000 or from the most recent Distribution Date on which interest has been
paid to, but excluding, the following Distribution Date. The Class A-1 Notes
receive interest at the rate of 6.593% per annum. The Class A-2 Notes receive
interest at the rate of 6.510% per annum. The Class A-3 Notes and the Class A-4
Notes receive interest at the rate of 6.460% per annum. The Initial Variable Pay
Revolving Note receives interest at the rate of one Month LIBOR plus 0.09% per
annum. Interest on Class A-1 Notes and the Initial Variable Revolving Note is
calculated on the basis of actual days elapsed during the period for which
interest is payable and a 360-day year. Interest on Class A-2, Class A-3, and
Class A-4 is calculated on the bases of a 360-day year consisting of twelve
30-day months. On each Distribution Date, the Owner Trustee distributes pro rata
to Certificateholders accrued interest at the pass-through rate of 6.450% per
annum on the outstanding Certificate Balance.
NOTE 4. FEDERAL INCOME TAX
The Trust is classified as a division of the Seller, and therefore is not
taxable as a corporation for federal income tax purposes. Each Noteholder by the
acceptance of a Note agrees to treat the Notes as indebtedness in the Trust for
federal, state and local income and franchise tax purposes. All the Certificates
were issued to the Seller on the closing date. If the Seller sells less than all
of the Certificates or if the Trust issues additional Certificates, this
characterization may change.
NOTE 5. SUBSEQUENT EVENTS
On February 5, 2001 GMAC sold $57,385,000 of the CARAT 2000-2 Asset-Backed
Certificates which approximated 99% of the outstanding Certificate Balance.
Subsequent to the sale of the Certificates the Trust will be classified as a
partnership, and therefore not taxable as a corporation for federal income tax
purposes.
II-13
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-2
SUPPLEMENTARY FINANCIAL DATA (unaudited)
SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME
2000 Quarters Principal Interest Total
- ------------------------------------ --------- -------- -----
(in millions of dollars)
First quarter ...................... $ 0.0 $ 0.0 $ 0.0
Second quarter...................... 0.0 0.0 0.0
Third quarter ...................... 0.0 0.0 0.0
Fourth quarter*..................... 0.0 0.0 0.0
--------- -------- ---------
Total ......................... $ 0.0 $ 0.0 $ 0.0
========= ======== =========
*Represents the period December 14, 2000 (inception) through December 31, 2000.
II-14
PART IV
ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8K
(a) (1) FINANCIAL STATEMENTS.
Included in Part II, Item 8, of Form 10-K.
(a) (2) FINANCIAL STATEMENT SCHEDULES.
All schedules have been omitted because they are not applicable or
because the information called for is shown in the financial statements
or notes thereto.
(a) (3) EXHIBITS (Included in Part II of this report).
-- Capital Auto Receivables Asset Trust 2000-1, Financial Statements
for the period April 19, 2000 (inception) through December 31,
2000.
-- Capital Auto Receivables Asset Trust 2000-2, Financial Statements
for the period December 14, 2000 (inception) through December 31,
2000.
(b) REPORTS ON FORM 8-K.
Current Reports on Form 8-K dated November 30, 2000 and
December 19, 2000, reporting matters under Items 5 and 7 were
filed during the fourth quarter ended December 31, 2000 for
Capital Auto Receivables Asset Trust 2000-2.
ITEMS 2, 3, 4, 5, 6, 9, 10, 11, 12 and 13 are not applicable and have been
omitted.
II-15
SIGNATURE
Pursuant to the requirements of Section 13 of the Securities Exchange Act of
1934, the Owner Trustee has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-1
CAPITAL AUTO RECEIVABLES ASSET TRUST 2000-2
by: Bankers Trust (Delaware)
------------------------------------------------
(Owner Trustee, not in its individual
capacity but solely as Owner Trustee on
behalf of the Issuer.)
s\ CHARLES C. GREITER
----------------------------------------
(Charles C. Greiter, Vice President)
Date: March 26, 2001
II-16