UNITED
STATES



SECURITIES
AND EXCHANGE COMMISSION



Washington,
D.C. 20549



FORM
10-K



| | ☒ | ANNUAL
                                         REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
| | - | ------------------------------------------------------------------------------------------------------------------------------



For
the fiscal year ended December 31, 2019



or



| | ☐ | TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
| | - | -----------------------------------------------------------------------------------------



For
the transition period from ________________ to ______________________



Commission
file number of the issuing entity: 333-228632-02

CIK
number of issuing entity: 0001774379



AMERICREDIT
AUTOMOBILE RECEIVABLES TRUST 2019-2

(Exact
name of issuing entity as specified in its charter)



Commission
File Number of depositor: 333-228632

CIK
number of depositor: 0001347185



AFS
SENSUB CORP.

(Exact
name of depositor as specified in its charter)



Commission
File Number of sponsor: 001-13329

CIK
number of sponsor: 0001002761



AMERICREDIT
FINANCIAL SERVICES, INC.

(Exact
name of sponsor as specified in its charter)



|Delaware                                             |  | 83-6874533         
|---------------------------------------------------- |  | -------------------
|(State or other jurisdiction of                      |  | (I.R.S. Employer   
|incorporation or organization)                       |  | Identification No.)
|                                                     |  |                    
|AmeriCredit Financial Services, Inc. (as originator) |  |                    
|801 Cherry Street, Suite 3500                        |  |                    
|Fort Worth, TX                                       |  | 76102              
|(Address of principal executive offices)             |  | (Zip Code)         



Registrant’s
telephone number, including area code (817) 302-7000



Securities
registered pursuant to Section 12 (b) of the Act: None



Securities
registered pursuant to Section 12 (g) of the Act: None



Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.



Yes
☐      No ☒



Indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.



Yes☐      No ☒



Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past 90 days.



Yes
☒      No☐



Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant
to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that
the registrant was required to submit such files).



Yes
☒      No☐



Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company, or emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”
“smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.



|Large accelerated filer ☐ | Accelerated filer ☐        
|------------------------- | ---------------------------
|Non-accelerated filer ☒   | Smaller reporting company ☐
|                          | Emerging growth company ☐  



If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes  ☐      No ☒



State
the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price
at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day
of the registrant’s most recently completed second fiscal quarter.



Not
applicable to this registrant.
















DOCUMENTS
INCORPORATED BY REFERENCE



List
hereunder the following documents if incorporated by reference and the part of the Form 10-K (e.g. Part I, Part II, etc.) into
which the document is incorporated: (1) Any annual report to security holders; (2) Any proxy or information statement; and (3)
Any prospectus filed pursuant to Rule 424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described
for identification purposes (e.g., annual report to security holders for fiscal year ended December 24, 1980).



None.



PART
I



The
following Items have been omitted in accordance with General Instruction J to Form 10-K:



|ITEM
                                         1. | BUSINESS
|------------------------------------------------ | --------

|ITEM
                                         1A. | RISK
                                         FACTORS
|------------------------------------------------- | -----------------------------------------------------

| | ITEM
                                         2. | PROPERTIES
| | ------------------------------------------------ | ----------

| | ITEM
                                         3. | LEGAL
                                         PROCEEDINGS
| | ------------------------------------------------ | ----------------------------------------------------------



| | ITEM
                                         1B. | UNRESOLVED
                                         STAFF COMMENTS
| | ------------------------------------------------- | ------------------------------------------------------------------



None.



| | ITEM
                                         4. | MINE
                                         SAFETY DISCLOSURES
| | ------------------------------------------------ | ----------------------------------------------------------------



Not
applicable.













PART
II



The
following Items have been omitted in accordance with General Instruction J to Form 10-K:



|ITEM
                                         5.  | MARKET
                                         FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES
                                         OF EQUITY SECURITIES
|------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|ITEM
                                         6.  | SELECTED
                                         FINANCIAL DATA                                                                                                                              
|ITEM
                                         7.  | MANAGEMENT’S
                                         DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS                                                                
|ITEM
                                         7A. | QUANTITATIVE
                                         AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK                                                                                           
|ITEM
                                         8.  | FINANCIAL
                                         STATEMENTS AND SUPPLEMENTARY DATA                                                                                                          
|ITEM
                                         9.  | CHANGES
                                         IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE                                                                 
|ITEM
                                         9A. | CONTROLS
                                         AND PROCEDURES                                                                                                                              



| | ITEM
                                         9B. | OTHER
                                         INFORMATION
| | ------------------------------------------------- | ----------------------------------------------------------



None.



PART
III



The
following Items have been omitted in accordance with General Instruction J to Form 10-K:



| | ITEM
                                         10. | DIRECTORS,
                                         EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
| | ------------------------------------------------- | -----------------------------------------------------------------------------------------------

| | ITEM
                                         11. | EXECUTIVE
                                         COMPENSATION
| | ------------------------------------------------- | ---------------------------------------------------------------

| | ITEM
                                         12. | SECURITY
                                         OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
| | ------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------

| | ITEM
                                         13. | CERTAIN
                                         RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE
| | ------------------------------------------------- | -----------------------------------------------------------------------------------------------------------------

| | ITEM
                                         14. | PRINCIPAL
                                         ACCOUNTING FEES AND SERVICES
| | ------------------------------------------------- | -------------------------------------------------------------------------------













PART
IV



| | ITEM
                                         15. | EXHIBITS,
                                         FINANCIAL STATEMENT SCHEDULES
| | ------------------------------------------------- | --------------------------------------------------------------------------------



| | (a)(1) | Not
applicable
| | ------ | --------------

| | (2) | Not
applicable
| | --- | --------------

| | (3) | As
reported under clause (b)
| | --- | ----------------------------



(b)



|Exhibit Number |  | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|-------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Exhibit 4.1    |  | Indenture, dated as of June 12, 2019, between AmeriCredit Automobile Receivables Trust 2019-2 and The Bank of New York Mellon, as Trustee and Trust Collateral Agent (incorporated by reference from Exhibit 4.1 of the Current Report on Form 8-K filed by AmeriCredit Automobile Receivables Trust 2019-2 (File No. 333-228632-02) with the SEC on June 18, 2019).                                                                                                 
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Exhibit 4.2    |  | Amended and Restated Trust Agreement, dated as of June 12, 2019, between AFS SenSub Corp., as Seller, and Wilmington Trust Company, as Owner Trustee (incorporated by reference from Exhibit 4.2 of the Current Report on Form 8-K filed by AmeriCredit Automobile Receivables Trust 2019-2 (File No. 333-228632-02) with the SEC on June 18, 2019).                                                                                                                 
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Exhibit 4.3    |  | Sale and Servicing Agreement, dated as of June 12, 2019, among AmeriCredit Automobile Receivables Trust 2019-2, as Issuer, AmeriCredit Financial Services, Inc., as Servicer, AFS SenSub Corp., as Seller, and The Bank of New York Mellon, as Trust Collateral Agent (incorporated by reference from Exhibit 4.3 of the Current Report on Form 8-K filed by AmeriCredit Automobile Receivables Trust 2019-2 (File No. 333-228632-02) with the SEC on June 18, 2019).
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Exhibit 10.1   |  | Purchase Agreement, dated as of June 12, 2019, between AmeriCredit Financial Services, Inc., as Seller and AFS SenSub Corp., as Purchaser (incorporated by reference from Exhibit 10.1 of the Current Report on Form 8-K filed by AmeriCredit Automobile Receivables Trust 2019-2 (File No. 333-228632-02) with the SEC on June 18, 2019).                                                                                                                           
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Exhibit 10.6   |  | Asset Representations Review Agreement, dated as of June 12, 2019, among AmeriCredit Automobile Receivables Trust 2019-2, AmeriCredit Financial Services, Inc., and Clayton Fixed Income Services LLC, as Asset Representation Reviewer (incorporated by reference from Exhibit 10.6 of the Current Report on Form 8-K filed by AmeriCredit Automobile Receivables Trust 2019-2 (File No. 333-228632-02) with the SEC on June 18, 2019).                             
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Exhibit 31.1   |  | Rule 13a-14(a)/15d-14(a) Certification (Section 302 Certification).                                                                                                                                                                                                                                                                                                                                                                                                  
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Exhibit 33.1   |  | Management’s Assertion Regarding Compliance with Applicable Servicing Criteria concerning servicing activities of AmeriCredit Financial Services, Inc. and its subsidiaries for the year ended December 31, 2019.                                                                                                                                                                                                                                                    
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Exhibit 33.2   |  | Assessment of Compliance with Applicable Servicing Criteria (The Bank of New York Mellon).                                                                                                                                                                                                                                                                                                                                                                           
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Exhibit 34.1   |  | Report of Independent Registered Public Accounting Firm (Ernst & Young LLP).                                                                                                                                                                                                                                                                                                                                                                                         
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Exhibit 34.2   |  | Report of Independent Registered Public Accounting Firm (KPMG LLP).                                                                                                                                                                                                                                                                                                                                                                                                  
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|Exhibit 35.1   |  | Servicer Compliance Statement of AmeriCredit Financial Services, Inc.                                                                                                                                                                                                                                                                                                                                                                                                



| | (c) | Not
applicable.
| | --- | ---------------













| | ITEM
                                         16. | FORM
                                         10-K SUMMARY
| | ------------------------------------------------- | ----------------------------------------------------------



None.



SUBSTITUTE
INFORMATION INCLUDED IN ACCORDANCE WITH GENERAL INSTRUCTION J TO FORM 10-K:



ITEM
1112(b) OF REGULATION AB. SIGNIFICANT OBLIGORS OF POOL ASSETS (FINANCIAL INFORMATION)



There
is no single obligor that represents more than 10% of the pool assets.



ITEM
1114(b)(2) OF REGULATION AB. CREDIT ENHANCEMENT AND OTHER SUPPORT, EXCEPT FOR CERTAIN DERIVATIVE INSTRUMENTS (FINANCIAL INFORMATION)



There
is no external credit enhancement or other support provider that is liable to provide payments supporting any notes or certificates
issued by the Issuing Entity.



ITEM
1115(b) OF REGULATION AB. CERTAIN DERIVATIVE INSTRUMENTS (FINANCIAL INFORMATION)



No
entity provides any derivative instruments that are used to alter the payment characteristics of the cash flows from the Issuing
Entity.



ITEM
1117 OF REGULATION AB. LEGAL PROCEEDINGS



The
sponsor is subject to various pending and potential legal and regulatory proceedings in the ordinary course of business, including
litigation, arbitration, claims, investigations, examinations, subpoenas and enforcement proceedings. Some litigation against
the sponsor could take the form of class actions. The outcomes of these proceedings are inherently uncertain, and thus the sponsor
cannot confidently predict how or when these proceedings will be resolved. An adverse outcome in one or more of these proceedings
could result in substantial damages, settlements, fines, penalties, diminished income or reputational harm to the sponsor, and
could materially and adversely affect the interest of the noteholders or the servicer’s ability to perform its duties under
the transaction documents. The proceedings identified below are those in connection with which the sponsor believes a material
loss is reasonably possible or probable.



In
2014 and 2015, General Motors Financial Company, Inc. was served with investigative subpoenas from various state attorneys general
and other governmental offices to produce documents and data relating to its automobile loan and lease business and securitization
of loans and leases. General Motors Financial Company, Inc. believes that it has cooperated fully with all reasonable requests
for information.



In
the ordinary course of business, The Bank of New York Mellon is named as a defendant in legal actions. In connection with its
role as trustee of certain residential mortgage-backed securitization, or RMBS, transactions, The Bank of New York Mellon has
been named as a defendant in a number of legal actions brought by RMBS investors. These lawsuits allege that the trustee had expansive
duties under the governing agreements, including the duty to investigate and pursue breach of representation and warranty claims
against other parties to the RMBS transactions. While it is inherently difficult to predict the eventual outcomes of pending actions,
The Bank of New York Mellon denies liability and intends to defend the litigations vigorously.













ITEM
1119 OF REGULATION AB. AFFILIATIONS AND CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS



Information
required by Item 1119 of Regulation AB has been omitted from this report on Form 10-K in reliance on the Instruction to Item
1119.



ITEM
1122 OF REGULATION AB. COMPLIANCE WITH APPLICABLE SERVICING CRITERIA.



The
following documents are filed as part of this report.



|Exhibit Number |  | Description                                                                                                                                                                                                      
|-------------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|               |  |                                                                                                                                                                                                                  
|Exhibit 33.1   |  | Management’s Assertion Regarding Compliance with Applicable Servicing Criteria concerning servicing activities of AmeriCredit Financial Services, Inc. and its subsidiaries for the year ended December 31, 2019.
|               |  |                                                                                                                                                                                                                  
|Exhibit 33.2   |  | Assessment of Compliance with Applicable Servicing Criteria (The Bank of New York Mellon).                                                                                                                       
|               |  |                                                                                                                                                                                                                  
|Exhibit 34.1   |  | Report of Independent Registered Public Accounting Firm (Ernst & Young LLP).                                                                                                                                     
|               |  |                                                                                                                                                                                                                  
|Exhibit 34.2   |  | Report of Independent Registered Public Accounting Firm (KPMG LLP).                                                                                                                                              





The
Servicer has complied, in all material respects, with the Applicable Servicing Criteria.



The
Assessment of Compliance with Applicable Servicing Criteria provided by The Bank of New York Mellon that is included in this report
as Exhibit 33.2 includes references to certain Material Instances of Noncompliance by The Bank of New York Mellon.  After
reviewing information provided by The Bank of New York Mellon, we have ascertained that those instances of noncompliance do not
relate to the transactions entered into by the issuing entity, do not relate to the same class of assets as those backing the
asset-backed securities described in this report, and do not relate to activities performed by The Bank of New York Mellon pursuant
to the transactions relating to the asset-backed securities described in this report.



ITEM
1123 OF REGULATION AB. SERVICER COMPLIANCE STATEMENT



The
following documents are filed as part of this report.



|Exhibit Number |  | Description                                                          
|-------------- |  | ---------------------------------------------------------------------
|               |  |                                                                      
|Exhibit 35.1   |  | Servicer Compliance Statement of AmeriCredit Financial Services, Inc.













SIGNATURES



Pursuant
to the requirements of Section 13 or 15 (d) of the Securities Exchange Act of 1934, AFS SenSub Corp. has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.





| | By: | AFS SENSUB CORP.,                                           | 
| | --- | ----------------------------------------------------------- | 
| |     | as Depositor                                                | 
| |     |                                                             | 
| | By: | /s/ Susan B. Sheffield                                      | 
| |     | Name: Susan B. Sheffield                                    | 
| |     | Title: Executive Vice President and Chief Financial Officer | 
| |     | Dated: March 6, 2020                                        | 



Supplemental
Information to be Furnished With Reports Filed Pursuant to Section 15(d) of the Act by Registrants Which Have Not Registered Securities
Pursuant to Section 12 of the Act.



No
annual report, proxy statement, form of proxy or other proxy soliciting material has been sent to certificateholders, and the
registrant does not presently contemplate sending any such materials subsequent to the filing of this report.