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, 1995, OR

___  TRANSITION  REPORT  PURSUANT  TO SECTION 13 OF THE  SECURITIES  EXCHANGE
ACT OF 1934 FOR THE TRANSITION PERIOD FROM _________ TO __________

      GMAC 1991-C GRANTOR TRUST                          33-44315
      GMAC 1992-D GRANTOR TRUST                          33-47999
      GMAC 1992-E GRANTOR TRUST                          33-48893
      GMAC 1992-F GRANTOR TRUST                          33-49037
      GMAC 1993-A GRANTOR TRUST                          33-49197
      GMAC 1993-B GRANTOR TRUST                          33-49197
      GMAC 1994-A GRANTOR TRUST                          33-49197
      GMAC 1995-A GRANTOR TRUST                          33-49197
    -----------------------------                     ---------------
    (Exact name of registrants as                     Commission file
     specified in its charter)                            number


A National Banking Association                           36-0899825
-------------------------------                     -------------------
(State or other jurisdiction of                      (I.R.S. Employer
 incorporation or organization)                     Identification No.)

   One First National Plaza,
Suite 0126, Chicago, Illinois                            60670-0126
----------------------------------------                 ----------
(Address of principal executive office)                  (Zip Code)


Registrants' telephone number, including area code 312-732-4000
                                                   ------------

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

Indicate by check mark whether each of the registrants (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 of the Grantor Trusts, (the "Trusts"), listed below, was formed by GMAC
Auto Receivables Corporation (the "Seller") by selling and assigning the
receivables and the security interests in the vehicles financed thereby to The
First National Bank of Chicago, as Trustee, in exchange for Class A and Class B
certificates. The Class A certificates were remarketed to the public and
represent an undivided ownership interest that ranges between approximately 91%
and 93.5% in each Trust. The Class B certificates were not offered to the public
and were held by the Seller and represent an undivided ownership interest that
ranges between approximately 6.5% and 9% in each Trust. The right of the Class B
certificateholders to receive distribution of the receivables is subordinated to
the rights of the Class A certificateholders.

                                  GRANTOR TRUST
                                  -------------

                                   GMAC 1991-C
                                   GMAC 1992-D
                                   GMAC 1992-E
                                   GMAC 1992-F
                                   GMAC 1993-A
                                   GMAC 1993-B
                                   GMAC 1994-A
                                   GMAC 1995-A
                              ---------------------


































                                   PART II

ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
         AND RESULTS OF OPERATIONS

Each of the Grantor Trusts, listed in the table shown below, was formed by GMAC
Auto Receivables Corporation (the "Seller") pursuant to a Pooling and Servicing
Agreement between the Seller and The First National Bank of Chicago, as Trustee.
Each Trust acquired retail finance receivables from the Seller in the aggregate
amount as shown below in exchange for certificates representing undivided
ownership interests in each Trust. Each Trust's property includes a pool of
retail instalment sale contracts secured by new, and in some cases used,
automobiles and light trucks, certain monies due thereunder and security
interests in the vehicles financed thereby.

The certificates for each of the following Trusts consist of two classes,
entitled Asset-Backed certificates, Class A and Asset-Backed certificates, Class
B. The Class A certificates represent in the aggregate an undivided ownership
interest in the Trusts that ranges between approximately 91% and 93.5%. The
Class B certificates represent in the aggregate an undivided ownership interest
in the Trusts that ranges between approximately 6.5% and 9%. Only the Class A
certificates have been remarketed to the public. The Class B certificates have
not been offered to the public and are held by the Seller. The rights of the
Class B certificateholder to receive monthly distributions with respect to the
receivables are subordinated to the rights of the Class A certificateholders.

                                                  Original Aggregate Amount
                                            -----------------------------------
                 Date of Pooling         Retail     Asset-Backed Certificates
Grantor           and Servicing          Finance    -------------------------
 Trust              Agreement          Receivables  Class A        Class B
-------         -----------------      -----------  --------       -------
                                             (in millions of dollars)


GMAC 1991-C     December 16, 1991      $ 1,326.4   $ 1,207.0       $ 119.4

GMAC 1992-D     June 4, 1992             1,647.6     1,499.3         148.3

GMAC 1992-E     August 20, 1992          1,578.0     1,436.0         142.0

GMAC 1992-F     September 29, 1992       1,644.6     1,496.6         148.0

GMAC 1993-A     March 24, 1993           1,403.0     1,297.8         105.2

GMAC 1993-B     September 16, 1993       1,450.6     1,341.8         108.8

GMAC 1994-A     June 28, 1994            1,151.9     1,077.0          74.9

GMAC 1995-A     March 16, 1995           1,104.6     1,032.8          71.8









                                   II-1



ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
         AND RESULTS OF OPERATIONS  (concluded)

General Motors Acceptance Corporation, the originator of the retail receivables,
continues to service the receivables for each of the aforementioned Grantor
Trusts and receives compensation and fees for such services. Investors receive
monthly payments of the pro rata portion of principal and interest for each
Trust as the receivables are liquidated.

                           ------------------------

















































                                     II-2


ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.


                         CROSS REFERENCE SHEET

Exhibit No.                    Caption                               Page
-----------   ----------------------------------------------------   ------

     --       GMAC 1991-C Grantor Trust, Independent Auditors'
              Report, Financial Statements and Selected Quarterly     II-4
              Data for the Year Ended December 31, 1995.

     --       GMAC 1992-D Grantor Trust, Independent Auditors'
              Report, Financial Statements and Selected Quarterly     II-10
              Data for the Year Ended December 31, 1995.

     --       GMAC 1992-E Grantor Trust, Independent Auditors'
              Report, Financial Statements and Selected Quarterly     II-16
              Data for the Year Ended December 31, 1995.

     --       GMAC 1992-F Grantor Trust, Independent Auditors'
              Report, Financial Statements and Selected Quarterly     II-22
              Data for the Year Ended December 31, 1995.

     --       GMAC 1993-A Grantor Trust, Independent Auditors'
              Report, Financial Statements and Selected Quarterly     II-28
              Data for the Year Ended December 31, 1995.

     --       GMAC 1993-B Grantor Trust, Independent Auditors'
              Report, Financial Statements and Selected Quarterly     II-34
              Data for the Year Ended December 31, 1995.

     --       GMAC 1994-A Grantor Trust, Independent Auditors'
              Report, Financial Statements and Selected Quarterly     II-40
              Data for the Year Ended December 31, 1995

     --       GMAC 1995-A Grantor Trust, Independent Auditors'
              Report, Financial Statements and Selected Quarterly     II-46
              Data for the period from March 16, 1995 (inception)
              through December 31, 1995.

     27.1     Financial Data Schedule for GMAC 1991-C Grantor
              Trust (for SEC electronic filing purposes only).         --

     27.2     Financial Data Schedule for GMAC 1992-D Grantor
              Trust (for SEC electronic filing purposes only).         --

     27.3     Financial Data Schedule for GMAC 1992-E Grantor
              Trust (for SEC electronic filing purposes only).         --

     27.4     Financial Data Schedule for GMAC 1992-F Grantor
              Trust (for SEC electronic filing purposes only).         --

     27.5     Financial Data Schedule for GMAC 1993-A, 1993-B,
              1994-A and 1995-A Grantor Trusts (for SEC electronic
              filing purposes only).                                   --





                                     II-3


<PAGE>



                          INDEPENDENT AUDITORS' REPORT


March 1, 1996


The GMAC 1991-C Grantor Trust, its Certificateholders, GMAC Auto Receivables
Corporation, and The First National Bank of Chicago, Trustee:

We have audited the accompanying Statement of Assets and Liabilities of the GMAC
1991-C Grantor Trust as of December 31, 1995 and 1994, and the related Statement
of Distributable Income for each of the three years in the period ended December
31, 1995. 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 audits.

We conducted our audits in accordance with generally accepted auditing
standards. 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 audits provide a reasonable basis for our opinion.

As described in Note 1 to the financial statements, these financial statements
are prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than generally accepted accounting
principles.

In our opinion, such financial statements present fairly, in all material
respects, the assets and liabilities of the GMAC 1991-C Grantor Trust at
December 31, 1995 and 1994, and its distributable income and distributions for
each of the three years in the period ended December 31, 1995, on the basis of
accounting described in Note 1.


s\ Deloitte & Touche LLP
-------------------------
Deloitte & Touche LLP
600 Renaissance Center
Detroit, Michigan 48243


















                                     II-4

                            GMAC 1991-C GRANTOR TRUST

                       STATEMENT OF ASSETS AND LIABILITIES



                                            December 31,
                                          1995        1994
                                         -------     -------
                                       (in millions of dollars)
ASSETS

Receivables (Note 2) ................... $  69.6     $ 228.7
                                         -------     -------

TOTAL ASSETS ........................... $  69.6     $ 228.7
                                         =======     =======



LIABILITIES

Asset-Backed Certificates
  (Notes 2 and 3) ...................... $  69.6     $ 228.7
                                         -------     -------

TOTAL LIABILITIES ...................... $  69.6     $ 228.7
                                         =======     =======




Reference should be made to the Notes to Financial Statements.




























                                     II-5

                            GMAC 1991-C GRANTOR TRUST

                        STATEMENT OF DISTRIBUTABLE INCOME


Year Ended December 31,
                                           1995        1994        1993
                                          ------      ------      ------
                                             (in millions of dollars)
Distributable Income

  Allocable to Principal ...............  $ 159.1     $ 267.3    $ 378.5

  Allocable to Interest  ...............      8.5        20.7       39.7
                                          -------     -------    -------
Distributable Income ...................  $ 167.6     $ 288.0    $ 418.2
                                          =======     =======    =======


Income Distributed .....................  $ 167.6     $ 288.0    $ 418.2
                                          =======     =======    =======



Reference should be made to the Notes to Financial Statements.



































                                    II-6

                            GMAC 1991-C GRANTOR TRUST

                          NOTES TO FINANCIAL STATEMENTS

NOTE 1.  BASIS OF ACCOUNTING

The financial statements of the GMAC 1991-C Grantor Trust (the "Trust") are
prepared on the basis of cash receipts and cash disbursements. Such financial
statements differ from financial statements prepared in accordance with
generally accepted accounting principles in that interest income and the related
assets are recognized when received rather than when earned and distributions to
certificateholders are recognized when paid rather than when the obligation is
incurred. Certain expenses of the Trust are paid by GMAC Auto Receivables
Corporation (the "Seller").


NOTE 2.  SALE OF CERTIFICATES

On December 16, 1991, GMAC 1991-C Grantor Trust acquired retail finance
receivables aggregating approximately $1,326.4 million from the Seller in
exchange for certificates representing undivided ownership interests in the
Trust of 91% for the Class A certificates and 9% for the Class B certificates.
The Trust property includes a pool of retail instalment sale contracts for new
automobiles and light trucks, certain monies due thereunder, and security
interests in the vehicles financed thereby. The Seller has the option to
repurchase the remaining receivables as of the last day of any month on or after
which the principal balance declines below 10% of the aggregate amount financed.
On January 16, 1996, GMAC exercised this option and repurchased the remaining
receivables in GMAC 1991-C Grantor Trust as of February 15, 1996.


NOTE 3.  PRINCIPAL AND INTEREST PAYMENTS

Principal (including prepayments) and interest are passed through and
distributed pro rata to Class A and Class B certificateholders on each
distribution date commencing January 15, 1992. Principal consists of payments on
the receivables that are allocable to repayment of the amount sold as determined
on a constant interest rate basis (the "actuarial method"). Interest is passed
through and distributed to Class A certificateholders at one-twelfth of the pass
through rate of 5.70% per annum. Interest consists of payments on the
receivables that are allocable to finance charges, using the actuarial method,
net of fees and expenses. The rights of the Class B certificateholders to
receive monthly distributions with respect to the receivables are subordinated
to the rights of the Class A certificateholders. The distribution date is the
15th day of each month (or, if such 15th day is not a business day, the next
following business day).


NOTE 4.  FEDERAL INCOME TAX

The Trust is classified as a grantor trust, and therefore is not taxable as a
corporation for federal income tax purposes. Each certificateholder will be
treated as the owner of a pro rata undivided interest in each of the receivables
in the Trust.





                                     II-7


                            GMAC 1991-C GRANTOR TRUST

                          NOTE TO FINANCIAL STATEMENTS

NOTE 5.  SUBSEQUENT EVENT

Effective February 23, 1996, the Board of Directors of GMAC Auto Receivables
Corporation approved the merger of and authorized the execution of an Agreement
and Plan of Merger by and between Capital Auto Receivables, Inc. and GMAC Auto
Receivables Corporation.  The separate corporate existence of GMAC Auto
Receivables Corporation shall cease and Capital Auto Receivables, Inc. shall
continue as the surviving corporation.

                              ____________________



                                     II-8                 

                            GMAC 1991-C GRANTOR TRUST

                    SUPPLEMENTARY FINANCIAL DATA (unaudited)

                    SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME


1995 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $    45.8   $    3.0   $    48.8

Second quarter .....................         43.9        2.4        46.3

Third quarter ......................         38.6        1.8        40.4

Fourth quarter .....................         30.8        1.3        32.1
                                        ---------   --------   ---------
     Total .........................    $   159.1   $    8.5   $   167.6
                                        =========   ========   =========


1994 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $    75.2   $    6.7   $    81.9

Second quarter .....................         74.0        5.6        79.6

Third quarter ......................         63.9        4.6        68.5

Fourth quarter .....................         54.2        3.8        58.0
                                        ---------   --------   ---------
     Total .........................    $   267.3   $   20.7   $   288.0
                                        =========   ========   =========


1993 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $    96.7   $   12.0   $   108.7

Second quarter .....................        101.1       10.6       111.7

Third quarter ......................         95.2        9.2       104.4

Fourth quarter .....................         85.5        7.9        93.4
                                        ---------   --------   ---------
     Total .........................    $   378.5   $   39.7   $   418.2
                                        =========   ========   =========






                                     II-9


<PAGE>




                          INDEPENDENT AUDITORS' REPORT


March 1, 1996


The GMAC 1992-D Grantor Trust, its Certificateholders, GMAC Auto Receivables
Corporation, and The First National Bank of Chicago, Trustee:

We have audited the accompanying Statement of Assets and Liabilities of the GMAC
1992-D Grantor Trust as of December 31, 1995 and 1994, and the related Statement
of Distributable Income for each of the three years in the period ended December
31, 1995. 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 audits.

We conducted our audits in accordance with generally accepted auditing
standards. 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 audits provide a reasonable basis for our opinion.

As described in Note 1 to the financial statements, these financial statements
are prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than generally accepted accounting
principles.

In our opinion, such financial statements present fairly, in all material
respects, the assets and liabilities of the GMAC 1992-D Grantor Trust at
December 31, 1995 and 1994, and its distributable income and distributions for
each of the three years in the period ended December 31, 1995, on the basis of
accounting described in Note 1.



s/ Deloitte & Touche LLP
-------------------------
Deloitte & Touche LLP
600 Renaissance Center
Detroit, Michigan 48243
















                                     II-10

                            GMAC 1992-D GRANTOR TRUST

                       STATEMENT OF ASSETS AND LIABILITIES


                                                        December 31,
                                                      1995        1994
                                                     -------     -------
ASSETS                                             (in millions of dollars)

Receivables (Note 2) ..............................  $  76.0     $ 300.7
                                                     -------     -------

TOTAL ASSETS ......................................  $  76.0     $ 300.7
                                                     =======     =======


LIABILITIES

Asset-Backed Certificates
  (Notes 2 and 3) .................................  $  76.0     $ 300.7
                                                     -------     -------

TOTAL LIABILITIES .................................  $  76.0     $ 300.7
                                                     =======     =======



Reference should be made to the Notes to Financial Statements.
































                                     II-11

                            GMAC 1992-D GRANTOR TRUST

                        STATEMENT OF DISTRIBUTABLE INCOME




                                              Year Ended December 31,
                                           1995        1994        1993
                                          ------      ------      ------
                                             (in millions of dollars)
Distributable Income

  Allocable to Principal ...............  $ 224.7      $ 401.3    $ 568.4

  Allocable to Interest  ...............     10.0         28.0       55.4
                                          -------      ------     -------
Distributable Income ...................  $ 234.7      $ 429.3    $ 623.8
                                          =======      =======    =======


Income Distributed .....................  $ 234.7      $ 429.3    $ 623.8
                                          =======      =======    =======


Reference should be made to the Notes to Financial Statements.



































                                     II-12

                            GMAC 1992-D GRANTOR TRUST

                          NOTES TO FINANCIAL STATEMENTS

NOTE 1.  BASIS OF ACCOUNTING

The financial statements of the GMAC 1992-D Grantor Trust (the "Trust") are
prepared on the basis of cash receipts and cash disbursements. Such financial
statements differ from financial statements prepared in accordance with
generally accepted accounting principles in that interest income and the related
assets are recognized when received rather than when earned and distributions to
certificateholders are recognized when paid rather than when the obligation is
incurred. Certain expenses of the Trust are paid by GMAC Auto Receivables
Corporation (the "Seller").


NOTE 2.  SALE OF CERTIFICATES

On June 4, 1992, GMAC 1992-D Grantor Trust acquired retail finance receivables
aggregating approximately $1,647.6 million from the Seller in exchange for
certificates representing undivided ownership interests in the Trust of 91% for
the Class A certificates and 9% for the Class B certificates. The Trust property
includes a pool of retail instalment sale contracts for new and used automobiles
and light trucks, certain monies due thereunder and security interests in the
vehicles financed thereby. The Seller has the option to repurchase the remaining
receivables as of the last day of any month on or after which the principal
balance declines below 10% of the aggregate amount financed. On January 16,
1996, GMAC exercised this option and repurchased the remaining receivables in
GMAC 1992-D Grantor Trust as of February 15, 1996.



NOTE 3.  PRINCIPAL AND INTEREST PAYMENTS

Principal (including prepayments) and interest are passed through and
distributed pro rata to Class A and Class B certificateholders on each
distribution date commencing June 15, 1992. Principal consists of payments on
the receivables that are allocable to repayment of the amount sold as determined
on a constant interest rate basis (the "actuarial method"). Interest is passed
through and distributed to Class A certificateholders at one-twelfth of the pass
through rate of 5.55% per annum. Interest consists of payments on the
receivables that are allocable to finance charges, using the actuarial method,
net of fees and expenses. The rights of the Class B certificateholders to
receive monthly distributions with respect to the receivables are subordinated
to the rights of the Class A certificateholders. The distribution date is the
15th day of each month (or, if such 15th day is not a business day, the next
following business day).


NOTE 4.  FEDERAL INCOME TAX

The Trust is classified as a grantor trust, and therefore is not taxable as a
corporation for federal income tax purposes. Each certificateholder will be
treated as the owner of a pro rata undivided interest in each of the receivables
in the Trust.




                                     II-13

                            GMAC 1992-D GRANTOR TRUST

                           NOTE TO FINANCIAL STATEMENTS

NOTE 5.  SUBSEQUENT EVENT

Effective February 23, 1996, the Board of Directors of GMAC Auto Receivables
Corporation approved the merger of and authorized the execution of an Agreement
and Plan of Merger by and between Capital Auto Receivables, Inc. and GMAC Auto
Receivables Corporation.  The separate corporate existence of GMAC Auto 
Receivables Corporation shall cease and Capital Auto Receivables, Inc. shall
continue as the surviving corporation.


                                  __________________


                                     II-14


                            GMAC 1992-D GRANTOR TRUST

                    SUPPLEMENTARY FINANCIAL DATA (unaudited)

                    SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME



1995 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $    73.1   $    3.8   $    76.9

Second quarter .....................         66.4        2.8        69.2

Third quarter ......................         49.8        2.0        51.8

Fourth quarter .....................         35.4        1.4        36.8
                                        ---------   --------   ---------
     Total .........................    $   224.7   $   10.0   $   234.7
                                        =========   ========   =========



1994 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $   113.3   $    9.2   $   122.5

Second quarter .....................        108.5        7.7       116.2

Third quarter ......................         95.9        6.2       102.1

Fourth quarter .....................         83.6        4.9        88.5
                                        ---------   --------   ---------
     Total .........................    $   401.3   $   28.0   $   429.3
                                        =========   ========   =========


1993 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $   148.6   $   16.9   $   165.5

Second quarter .....................        153.3       14.8       168.1

Third quarter ......................        140.7       12.8       153.5

Fourth quarter .....................        125.8       10.9       136.7
                                        ---------   --------   ---------
     Total .........................    $   568.4   $   55.4   $   623.8
                                        =========   ========   =========




                                     II-15

                          INDEPENDENT AUDITORS' REPORT


March 1, 1996


The GMAC 1992-E Grantor Trust, its Certificateholders, GMAC Auto Receivables
Corporation, and The First National Bank of Chicago, Trustee:

We have audited the accompanying Statement of Assets and Liabilities of the GMAC
1992-E Grantor Trust as of December 31, 1995 and 1994, and the related Statement
of Distributable Income for each of the three years in the period ended December
31, 1995. 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 audits.

We conducted our audits in accordance with generally accepted auditing
standards. 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 audits provide a reasonable basis for our opinion.

As described in Note 1 to the financial statements, these financial statements
are prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than generally accepted accounting
principles.

In our opinion, such financial statements present fairly, in all material
respects, the assets and liabilities of the GMAC 1992-E Grantor Trust at
December 31, 1995 and 1994, and its distributable income and distributions for
each of the three years in the period ended December 31, 1995, on the basis of
accounting described in Note 1.



s\ Deloitte & Touche LLP
-------------------------
Deloitte & Touche LLP
600 Renaissance Center
Detroit, Michigan 48243


















                                    II-16

                            GMAC 1992-E GRANTOR TRUST

                       STATEMENT OF ASSETS AND LIABILITIES



                                                        December 31,
                                                     1995          1994
                                                    -------       -------
ASSETS                                            (in millions of dollars)

Receivables (Note 2) .............................. $ 203.0       $ 478.4
                                                    -------       -------

TOTAL ASSETS ...................................... $ 203.0       $ 478.4
                                                    =======       =======


LIABILITIES

Asset-Backed Certificates
  (Notes 2 and 3) ................................. $ 203.0       $ 478.4
                                                    -------       -------

TOTAL LIABILITIES ................................. $ 203.0       $ 478.4
                                                    =======       =======



Reference should be made to the Notes to Financial Statements.






























                                     II-17

                            GMAC 1992-E GRANTOR TRUST

                        STATEMENT OF DISTRIBUTABLE INCOME


                                              Year Ended December 31,
                                           1995        1994        1993
                                          ------      ------      ------
                                             (in millions of dollars)
Distributable Income

  Allocable to Principal ...............  $ 275.4    $ 407.0     $ 512.6

  Allocable to Interest  ...............     16.3       32.6        55.1
                                          ------     -------     -------
Distributable Income ...................  $ 291.7    $ 439.6     $ 567.7
                                          =======    =======     =======


Income Distributed .....................  $ 291.7    $ 439.6     $ 567.7
                                          =======    =======     =======



Reference should be made to the Notes to Financial Statements.




































                                     II-18

                            GMAC 1992-E GRANTOR TRUST

                          NOTES TO FINANCIAL STATEMENTS

NOTE 1.  BASIS OF ACCOUNTING

The financial statements of the GMAC 1992-E Grantor Trust (the "Trust") are
prepared on the basis of cash receipts and cash disbursements. Such financial
statements differ from financial statements prepared in accordance with
generally accepted accounting principles in that interest income and the related
assets are recognized when received rather than when earned and distributions to
certificateholders are recognized when paid rather than when the obligation is
incurred. Certain expenses of the Trust are paid by GMAC Auto Receivables
Corporation (the "Seller").


NOTE 2.  SALE OF CERTIFICATES

On August 20, 1992, GMAC 1992-E Grantor Trust acquired retail finance
receivables aggregating approximately $1,578.0 million from the Seller in
exchange for certificates representing undivided ownership interests in the
Trust of 91% for the Class A certificates and 9% for the Class B certificates.
The Trust property includes a pool of retail instalment sale contracts for new
and used automobiles and light trucks, certain monies due thereunder and
security interests in the vehicles financed thereby. The Seller has the option
to repurchase the remaining receivables as of the last day of any month on or
after which the principal balance declines below 10% of the aggregate amount
financed. On February 15, 1996, GMAC exercised this option and repurchased the
remaining receivables in GMAC 1992-E Grantor Trust as of March 15, 1996.


NOTE 3.  PRINCIPAL AND INTEREST PAYMENTS

Principal (including prepayments) and interest are passed through and
distributed pro rata to Class A and Class B certificateholders on each
distribution date commencing September 15, 1992. Principal consists of payments
on the receivables that are allocable to repayment of the amount sold as
determined on a constant interest rate basis (the "actuarial method"). Interest
is passed through and distributed to Class A certificateholders at one-twelfth
of the pass through rate of 4.75% per annum. Interest consists of payments on
the receivables that are allocable to finance charges, using the actuarial
method, net of fees and expenses. The rights of the Class B certificateholders
to receive monthly distributions with respect to the receivables are
subordinated to the rights of the Class A certificateholders. The distribution
date is the 15th day of each month (or, if such 15th day is not a business day,
the next following business day).


NOTE 4.  FEDERAL INCOME TAX

The Trust is classified as a grantor trust, and therefore is not taxable as a
corporation for federal income tax purposes. Each certificateholder will be
treated as the owner of a pro rata undivided interest in each of the receivables
in the Trust.







                                    II-19
                            GMAC 1992-E GRANTOR TRUST

                           NOTES TO FINANCIAL STATEMENTS

NOTE 5.  SUBSEQUENT EVENT

Effective February 23, 1996, the Board of Directors of GMAC Auto Receivables
Corporation approved the merger of and authorized the execution of an Agreement
and Plan of Merger by and between Capital Auto Receivables, Inc. and GMAC Auto
Receivables Corporation.  The separate corporate existence of GMAC Auto
Receivables Corporation shall cease and Capital Auto Receivables, Inc. shall
continue as the surviving corporation.


                                 ________________



                                    II-20


                            GMAC 1992-E GRANTOR TRUST

                    SUPPLEMENTARY FINANCIAL DATA (unaudited)

                    SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME



1995 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $    76.7   $    5.4   $    82.1

Second quarter .....................         74.2        4.5        78.7

Third quarter ......................         67.3        3.6        70.9

Fourth quarter .....................         57.2        2.8        60.0
                                        ---------   --------   ---------
     Total .........................    $   275.4   $   16.3   $   291.7
                                        =========   ========   =========



1994 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $   110.6   $   10.1   $   120.7

Second quarter .....................        110.9        8.7       119.6

Third quarter ......................         97.9        7.5       105.4

Fourth quarter .....................         87.6        6.3        93.9
                                        ---------   --------   ---------
     Total .........................    $   407.0   $   32.6   $   439.6
                                        =========   ========   =========


1993 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $   128.3   $   16.1   $   144.4

Second quarter .....................        134.8       14.5       149.3

Third quarter ......................        129.0       13.0       142.0

Fourth quarter .....................        120.5       11.5       132.0
                                        ---------   --------   ---------
     Total .........................    $   512.6   $   55.1   $   567.7
                                        =========   ========   =========




                                     II-21

                          INDEPENDENT AUDITORS' REPORT


March 1, 1996


The GMAC 1992-F Grantor Trust, its Certificateholders, GMAC Auto Receivables
Corporation, and The First National Bank of Chicago, Trustee:

We have audited the accompanying Statement of Assets and Liabilities of the GMAC
1992-F Grantor Trust as of December 31, 1995 and 1994, and the related Statement
of Distributable Income for each of the three years in the period ended December
31, 1995. 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 audits.

We conducted our audits in accordance with generally accepted auditing
standards. 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 audits provide a reasonable basis for our opinion.

As described in Note 1 to the financial statements, these financial statements
are prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than generally accepted accounting
principles.

In our opinion, such financial statements present fairly, in all material
respects, the assets and liabilities of the GMAC 1992-F Grantor Trust at
December 31, 1995 and 1994, and its distributable income and distributions for
each of the three years in the period ended December 31, 1995, on the basis of
accounting described in Note 1.



s\ Deloitte & Touche LLP
-------------------------
Deloitte & Touche LLP
600 Renaissance Center
Detroit, Michigan 48243

















                                     II-22

                            GMAC 1992-F GRANTOR TRUST

                       STATEMENT OF ASSETS AND LIABILITIES



                                                        December 31,
                                                     1995          1994
                                                    -------       -------
ASSETS                                             (in millions of dollars)

Receivables (Note 2) .............................. $ 149.1       $ 442.6
                                                    -------       -------

TOTAL ASSETS ...................................... $ 149.1       $ 442.6
                                                    =======       =======


LIABILITIES

Asset-Backed Certificates
  (Notes 2 and 3) ................................. $ 149.1       $ 442.6
                                                    -------       -------

TOTAL LIABILITIES ................................. $ 149.1       $ 442.6
                                                    =======       =======



Reference should be made to the Notes to Financial Statements.































                                     II-23

                            GMAC 1992-F GRANTOR TRUST

                        STATEMENT OF DISTRIBUTABLE INCOME





                                              Year Ended December 31,
                                           1995        1994        1993
                                          ------      ------      ------
                                             (in millions of dollars)
Distributable Income

  Allocable to Principal ...............  $ 293.5     $ 466.1     $ 584.1

  Allocable to Interest  ...............     13.3        30.6        55.0
                                          -------     -------     -------
Distributable Income ...................  $ 306.8     $ 496.7     $ 639.1
                                          =======     =======     =======


Income Distributed .....................  $ 306.8     $ 496.7     $ 639.1
                                          =======     =======     =======




Reference should be made to the Notes to Financial Statements.
































                                     II-24

                            GMAC 1992-F GRANTOR TRUST

                          NOTES TO FINANCIAL STATEMENTS

NOTE 1.  BASIS OF ACCOUNTING

The financial statements of the GMAC 1992-F Grantor Trust (the "Trust") are
prepared on the basis of cash receipts and cash disbursements. Such financial
statements differ from financial statements prepared in accordance with
generally accepted accounting principles in that interest income and the related
assets are recognized when received rather than when earned and distributions to
certificateholders are recognized when paid rather than when the obligation is
incurred. Certain expenses of the Trust are paid by GMAC Auto Receivables
Corporation (the "Seller").


NOTE 2.  SALE OF CERTIFICATES

On September 29, 1992, GMAC 1992-F Grantor Trust acquired retail finance
receivables aggregating approximately $1,644.6 million from the Seller in
exchange for certificates representing undivided ownership interests in the
Trust of 91% for the Class A certificates and 9% for the Class B certificates.
The Trust property includes a pool of retail instalment sale contracts for new
and used automobiles and light trucks, certain monies due thereunder, and
security interests in the vehicles financed thereby. The Seller has the option
to repurchase the remaining receivables as of the last day of any month on or
after which the principal balance declines below 10% of the aggregate amount
financed.


NOTE 3.  PRINCIPAL AND INTEREST PAYMENTS

Principal (including prepayments) and interest are passed through and
distributed pro rata to Class A and Class B certificateholders on each
distribution date commencing October 15, 1992. Principal consists of payments on
the receivables that are allocable to repayment of the amount sold as determined
on a constant interest rate basis (the "actuarial method"). Interest is passed
through and distributed to Class A certificateholders at one-twelfth of the pass
through rate of 4.50% per annum. Interest consists of payments on the
receivables that are allocable to finance charges, using the actuarial method,
net of fees and expenses. The rights of the Class B certificateholders to
receive monthly distributions with respect to the receivables are subordinated
to the rights of the Class A certificateholders. The distribution date is the
15th day of each month (or, if such 15th day is not a business day, the next
following business day).


NOTE 4.  FEDERAL INCOME TAX

The Trust is classified as a grantor trust, and therefore is not taxable as a
corporation for federal income tax purposes. Each certificateholder will be
treated as the owner of a pro rata undivided interest in each of the receivables
in the Trust.







                                     II-25

                            GMAC 1992-F GRANTOR TRUST

                           NOTES TO FINANCIAL STATEMENTS

NOTE 5.  SUBSEQUENT EVENT

Effective February 23 1996, the Board of Directors of GMAC Auto Receivables
Corporation approved the merger of and authorized the execution of an Agreement
and Plan of Merger by and between Capital Auto Receivables, Inc. and GMAC Auto
Receivables Corporation.  The separate corporate existence of GMAC Auto
Receivables Corporation shall cease and Capital Auto Receivables, Inc. shall
continue as the surviving corporation.

                                   _____________





















                                   II-26


                            GMAC 1992-F GRANTOR TRUST

                    SUPPLEMENTARY FINANCIAL DATA (unaudited)

                    SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME




1995 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $    87.3   $    4.6   $    91.9

Second quarter .....................         79.6        3.7        83.3

Third quarter ......................         68.8        2.9        71.7

Fourth quarter .....................         57.8        2.1        59.9
                                        ---------   --------   ---------
     Total .........................    $   293.5   $   13.3   $   306.8
                                        =========   ========   =========



1994 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $   129.5   $    9.7   $   139.2

Second quarter .....................        124.8        8.3       133.1

Third quarter ......................        112.8        6.9       119.7

Fourth quarter .....................         99.0        5.7       104.7
                                        ---------   --------   ---------
     Total .........................    $   466.1   $   30.6   $   496.7
                                        =========   ========   =========


1993 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $   146.9   $   16.2   $   163.1

Second quarter .....................        151.2       14.6       165.8

Third quarter ......................        147.3       12.9       160.2

Fourth quarter .....................        138.7       11.3       150.0
                                        ---------   --------   ---------
     Total .........................    $   584.1   $   55.0   $   639.1
                                        =========   ========   =========




                                    II-27

                          INDEPENDENT AUDITORS' REPORT


March 1, 1996

The GMAC 1993-A Grantor Trust, its Certificateholders, GMAC Auto Receivables
Corporation, and The First National Bank of Chicago, Trustee:

We have audited the accompanying Statement of Assets and Liabilities of the GMAC
1993-A Grantor Trust as of December 31, 1995 and 1994, and the related Statement
of Distributable Income for each of the two years in the period ended December
31, 1995 and the period March 24, 1993 (inception) through December 31, 1993.
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 audits.

We conducted our audits in accordance with generally accepted auditing
standards. 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 audits provide a reasonable basis for our opinion.

As described in Note 1 to the financial statements, these financial statements
are prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than generally accepted accounting
principles.

In our opinion, such financial statements present fairly, in all material
respects, the assets and liabilities of the GMAC 1993-A Grantor Trust at
December 31, 1995 and 1994, and its distributable income and distributions for
each of the two years in the period ended December 31, 1995 and the period March
24, 1993 (inception) through December 31, 1993, on the basis of accounting
described in Note 1.


s\ Deloitte & Touche LLP
-------------------------
Deloitte & Touche LLP
600 Renaissance Center
Detroit, Michigan 48243

















                                    II-28

                            GMAC 1993-A GRANTOR TRUST

                       STATEMENT OF ASSETS AND LIABILITIES


                                                        December 31,
                                                     1995          1994
                                                    -------       -------
ASSETS                                             (in millions of dollars)

Receivables (Note 2) .............................. $ 141.2       $ 379.4
                                                    -------       -------

TOTAL ASSETS ...................................... $ 141.2       $ 379.4
                                                    =======       =======


LIABILITIES

Asset-Backed Certificates
  (Notes 2 and 3) ................................. $ 141.2       $ 379.4
                                                    -------       -------

TOTAL LIABILITIES ................................. $ 141.2       $ 379.4
                                                    =======       =======



Reference should be made to the Notes to Financial Statements.































                                     II-29

                            GMAC 1993-A GRANTOR TRUST

                        STATEMENT OF DISTRIBUTABLE INCOME


                                              Year Ended December 31,
                                           1995        1994        1993*
                                          ------      ------      ------
                                             (in millions of dollars)
Distributable Income

  Allocable to Principal ...............  $ 238.2     $ 466.5     $ 557.0

  Allocable to Interest  ...............     10.7        25.2        35.6
                                          -------     -------     -------
Distributable Income ...................  $ 248.9     $ 491.7     $ 592.6
                                          =======     =======     =======


Income Distributed .....................  $ 248.9     $ 491.7     $ 592.6
                                          =======     =======     =======



* Represents the period March 24, 1993 (inception) through December 31, 1993.



Reference should be made to the Notes to Financial Statements.
































                                     II-30

                            GMAC 1993-A GRANTOR TRUST

                          NOTES TO FINANCIAL STATEMENTS

NOTE 1.  BASIS OF ACCOUNTING

The financial statements of the GMAC 1993-A Grantor Trust (the "Trust") are
prepared on the basis of cash receipts and cash disbursements. Such financial
statements differ from financial statements prepared in accordance with
generally accepted accounting principles in that interest income and the related
assets are recognized when received rather than when earned and distributions to
certificateholders are recognized when paid rather than when the obligation is
incurred. Certain expenses of the Trust are paid by GMAC Auto Receivables
Corporation (the "Seller").


NOTE 2.  SALE OF CERTIFICATES

On March 24, 1993, GMAC 1993-A Grantor Trust acquired retail finance receivables
aggregating approximately $1,403.0 million from the Seller in exchange for
certificates representing undivided ownership interests in the Trust of 92.5%
for the Class A certificates and 7.5% for the Class B certificates. The Trust
property includes a pool of retail instalment sale contracts for new and used
automobiles and light trucks, certain monies due thereunder, and security
interests in the vehicles financed thereby. The Seller has the option to
repurchase the remaining receivables as of the last day of any month on or after
which the principal balance declines below 10% of the aggregate amount financed.


NOTE 3.  PRINCIPAL AND INTEREST PAYMENTS

Principal (including prepayments) and interest are passed through and
distributed pro rata to Class A and Class B certificateholders on each
distribution date commencing April 15, 1993. Principal consists of payments on
the receivables that are allocable to repayment of the amount sold as determined
on a constant interest rate basis (the "actuarial method"). Interest is passed
through and distributed to Class A certificateholders at one-twelfth of the pass
through rate of 4.15% per annum. Interest consists of payments on the
receivables that are allocable to finance charges, using the actuarial method,
net of fees and expenses. The rights of the Class B certificateholders to
receive monthly distributions with respect to the receivables are subordinated
to the rights of the Class A certificateholders. The distribution date is the
15th day of each month (or, if such 15th day is not a business day, the next
following business day).


NOTE 4.  FEDERAL INCOME TAX

The Trust is classified as a grantor trust, and therefore is not taxable as a
corporation for federal income tax purposes. Each certificateholder will be
treated as the owner of a pro rata undivided interest in each of the receivables
in the Trust.







                                     II-31

                            GMAC 1993-A GRANTOR TRUST

                           NOTES TO FINANCIAL STATEMENTS

NOTE 5.  SUBSEQUENT EVENT

Effective February 23, 1996, the Board of Directors of GMAC Auto Receivables
Corporation approved the merger of and authorized the execution of an Agreement
and Plan of Merger by and between Capital Auto Receivables, Inc. and GMAC Auto
Receivables Corporation.  The separate corporate existence of GMAC Auto
Receivables Corporation shall cease and Capital Auto Receivables, Inc. shall
continue as the surviving corporation.

                                  _________________





























                                    II-32

                            GMAC 1993-A GRANTOR TRUST

                    SUPPLEMENTARY FINANCIAL DATA (unaudited)

                    SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME




1995 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $    73.0   $    3.6   $    76.6

Second quarter .....................         65.4        2.9        68.3

Third quarter ......................         55.5        2.4        57.9

Fourth quarter .....................         44.3        1.8        46.1
                                        ---------   --------   ---------
     Total .........................    $   238.2   $   10.7   $   248.9
                                        =========   ========   =========



1994 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $   144.3   $    8.3   $   152.6

Second quarter .....................        127.0        6.8       133.8

Third quarter ......................        106.4        5.6       112.0

Fourth quarter .....................         88.8        4.5        93.3
                                        ---------   --------   ---------
     Total .........................    $   466.5   $   25.2   $   491.7
                                        =========   ========   =========



1993 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

Second quarter .....................    $   196.7   $   13.9   $   210.6

Third quarter ......................        194.4       11.8       206.2

Fourth quarter .....................        165.9        9.9       175.8
                                        ---------   --------   ---------
     Total .........................    $   557.0   $   35.6   $   592.6
                                        =========   ========   =========





                                     II-33

                          INDEPENDENT AUDITORS' REPORT


March 1, 1996


The GMAC 1993-B Grantor Trust, its Certificateholders, GMAC Auto Receivables
Corporation, and The First National Bank of Chicago, Trustee:

We have audited the accompanying Statement of Assets and Liabilities of the GMAC
1993-B Grantor Trust as of December 31, 1995 and 1994, and the related Statement
of Distributable Income for each of the two years in the period ended December
31, 1995 and the period September 16, 1993 (inception) through December 31,
1993. 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 audits.

We conducted our audits in accordance with generally accepted auditing
standards. 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 audits provide a reasonable basis for our opinion.

As described in Note 1 to the financial statements, these financial statements
are prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than generally accepted accounting
principles.

In our opinion, such financial statements present fairly, in all material
respects, the assets and liabilities of the GMAC 1993-B Grantor Trust at
December 31, 1995 and 1994, and its distributable income and distributions for
each of the two years in the period ended December 31, 1995 and the period
September 16, 1993 (inception) through December 31, 1993, on the basis of
accounting described in Note 1.




s/ Deloitte & Touche LLP
-------------------------
Deloitte & Touche LLP
600 Renaissance Center
Detroit, Michigan 48243














                                     II-34

                            GMAC 1993-B GRANTOR TRUST

                       STATEMENT OF ASSETS AND LIABILITIES



                                                        December 31,
                                                     1995          1994
                                                    -------       -------
ASSETS                                             (in millions of dollars)

Receivables (Note 2) .............................. $ 316.3       $ 679.2
                                                    -------       -------

TOTAL ASSETS ...................................... $ 316.3       $ 679.2
                                                    =======       =======


LIABILITIES

Asset-Backed Certificates
  (Notes 2 and 3) ................................. $ 316.3       $ 679.2
                                                    -------       -------

TOTAL LIABILITIES ................................. $ 316.3       $ 679.2
                                                    =======       =======


Reference should be made to the Notes to Financial Statements.































                                     II-35


                            GMAC 1993-B GRANTOR TRUST

                        STATEMENT OF DISTRIBUTABLE INCOME


                                              Year Ended December 31,
                                           1995        1994        1993*
                                          ------      ------      ------
                                             (in millions of dollars)
Distributable Income

  Allocable to Principal ...............  $ 362.9     $ 589.8     $ 181.6

  Allocable to Interest  ...............     19.9        39.0        13.9
                                          -------     -------     -------
Distributable Income ...................  $ 382.8     $ 628.8     $ 195.5
                                          =======     =======     =======


Income Distributed .....................  $ 382.8     $ 628.8     $ 195.5
                                          =======     =======     =======



* Represents the period September 16, 1993 (inception) through December 31,
  1993.



Reference should be made to the Notes to Financial Statements.































                                     II-36

                            GMAC 1993-B GRANTOR TRUST

                          NOTES TO FINANCIAL STATEMENTS

NOTE 1.  BASIS OF ACCOUNTING

The financial statements of the GMAC 1993-B Grantor Trust (the "Trust") are
prepared on the basis of cash receipts and cash disbursements. Such financial
statements differ from financial statements prepared in accordance with
generally accepted accounting principles in that interest income and the related
assets are recognized when received rather than when earned and distributions to
certificateholders are recognized when paid rather than when the obligation is
incurred. Certain expenses of the Trust are paid by GMAC Auto Receivables
Corporation (the "Seller").


NOTE 2.  SALE OF CERTIFICATES

On September 16, 1993, GMAC 1993-B Grantor Trust acquired retail finance
receivables aggregating approximately $1,450.6 million from the Seller in
exchange for certificates representing undivided ownership interests in the
Trust of 92.5% for the Class A certificates and 7.5% for the Class B
certificates. The Trust property includes a pool of retail instalment sale
contracts for new and used automobiles and light trucks, certain monies due
thereunder, and security interests in the vehicles financed thereby. The Seller
has the option to repurchase the remaining receivables as of the last day of any
month on or after which the principal balance declines below 10% of the
aggregate amount financed.


NOTE 3.  PRINCIPAL AND INTEREST PAYMENTS

Principal (including prepayments) and interest are passed through and
distributed pro rata to Class A and Class B certificateholders on each
distribution date commencing October 15, 1993. Principal consists of payments on
the receivables that are allocable to repayment of the amount sold as determined
on a constant interest rate basis (the "actuarial method"). Interest is passed
through and distributed to Class A certificateholders at one-twelfth of the pass
through rate of 4.00% per annum. Interest consists of payments on the
receivables that are allocable to finance charges, using the actuarial method,
net of fees and expenses. The rights of the Class B certificateholders to
receive monthly distributions with respect to the receivables are subordinated
to the rights of the Class A certificateholders. The distribution date is the
15th day of each month (or, if such 15th day is not a business day, the next
following business day).


NOTE 4.  FEDERAL INCOME TAX

The Trust is classified as a grantor trust, and therefore is not taxable as a
corporation for federal income tax purposes. Each certificateholder will be
treated as the owner of a pro rata undivided interest in each of the receivables
in the Trust.







                                     II-37

                            GMAC 1993-B GRANTOR TRUST
 
                           NOTES TO FINANCIAL STATEMENTS

NOTE 5. SUBSEQUENT EVENT

Effective February 23, 1996, the Board of Directors of GMAC Auto Receivables
Corporation approved the merger of and authorized the execution of an Agreement
and Plan of Merger by and between Capital Auto Receivables, Inc. and GMAC Auto
Receivables Corporation.  The separate corporate existence of GMAC Auto
Receivables Corporation shall cease and Capital Auto Receivables, Inc. shall
continue as the surviving corporation.


                                  __________________



























                                     II-38


                            GMAC 1993-B GRANTOR TRUST

                    SUPPLEMENTARY FINANCIAL DATA (unaudited)

                    SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME



1995 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $   105.0   $    6.4   $   111.4

Second quarter .....................         97.8        5.4       103.2

Third quarter ......................         87.1        4.5        91.6

Fourth quarter .....................         73.0        3.6        76.6
                                        ---------   --------   ---------
     Total .........................    $   362.9   $   19.9   $   382.8
                                        =========   ========   =========



1994 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $   173.9   $   12.1   $   186.0

Second quarter .....................        158.1       10.4       168.5

Third quarter ......................        137.8        8.9       146.7

Fourth quarter .....................        120.0        7.6       127.6
                                        ---------   --------   ---------
     Total .........................    $   589.8   $   39.0   $   628.8
                                        =========   ========   =========



1993 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

Fourth quarter .....................    $   181.6   $   13.9   $   195.5
                                        =========   ========   =========












                                     II-39

                          INDEPENDENT AUDITORS' REPORT


March 1, 1996


The GMAC 1994-A Grantor Trust, its Certificateholders, GMAC Auto Receivables
Corporation, and The First National Bank of Chicago, Trustee:

We have audited the accompanying Statement of Assets and Liabilities of the GMAC
1994-A Grantor Trust as of December 31, 1995 and 1994, and the related Statement
of Distributable Income for the year ended December 31, 1995 and the period June
28, 1994 (inception) through December 31, 1994. 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 audits.

We conducted our audits in accordance with generally accepted auditing
standards. 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 audits provide a reasonable basis for our opinion.

As described in Note 1 to the financial statements, these financial statements
are prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than generally accepted accounting
principles.

In our opinion, such financial statements present fairly, in all material
respects, the assets and liabilities of the GMAC 1994-A Grantor Trust at
December 31, 1995 and 1994, and its distributable income and distributions for
the year ended December 31, 1995 and the period June 28, 1994 (inception)
through December 31, 1994, on the basis of accounting described in Note 1.


s\ Deloitte & Touche LLP
-------------------------
Deloitte & Touche LLP
600 Renaissance Center
Detroit, Michigan 48243
















                                     II-40

                            GMAC 1994-A GRANTOR TRUST

                       STATEMENT OF ASSETS AND LIABILITIES



                                                        December 31,
                                                     1995          1994
                                                    -------       -------
ASSETS                                             (in millions of dollars)

Receivables (Note 2) .............................. $ 506.2       $ 901.8
                                                    -------       -------

TOTAL ASSETS ...................................... $ 506.2       $ 901.8
                                                    =======       =======


LIABILITIES

Asset-Backed Certificates
  (Notes 2 and 3) ................................. $ 506.2       $ 901.8
                                                    -------       -------

TOTAL LIABILITIES ................................. $ 506.2       $ 901.8
                                                    =======       =======


Reference should be made to the Notes to Financial Statements.
































                                     II-41

                            GMAC 1994-A GRANTOR TRUST

                        STATEMENT OF DISTRIBUTABLE INCOME



                                              Year Ended December 31,
                                                  1995       1994*
                                                --------   --------
                                             (in millions of dollars)
Distributable Income

  Allocable to Principal ...................... $  395.6   $  250.1

  Allocable to Interest  ......................     44.9       33.0
                                                --------   --------
Distributable Income .......................... $  440.5   $  283.1
                                                ========   ========


Income Distributed ............................ $  440.5   $  283.1
                                                ========   ========



* Represents the period June 28, 1994 (inception) through December 31, 1994.



Reference should be made to the Notes to Financial Statements.






























                                     II-42

                            GMAC 1994-A GRANTOR TRUST

                          NOTES TO FINANCIAL STATEMENTS

NOTE 1.  BASIS OF ACCOUNTING

The financial statements of the GMAC 1994-A Grantor Trust (the "Trust") are
prepared on the basis of cash receipts and cash disbursements. Such financial
statements differ from financial statements prepared in accordance with
generally accepted accounting principles in that interest income and the related
assets are recognized when received rather than when earned and distributions to
certificateholders are recognized when paid rather than when the obligation is
incurred. Certain expenses of the Trust are paid by GMAC Auto Receivables
Corporation (the "Seller").


NOTE 2.  SALE OF CERTIFICATES

On June 28, 1994, GMAC 1994-A Grantor Trust acquired retail finance receivables
aggregating approximately $1,151.9 million from the Seller in exchange for
certificates representing undivided ownership interests in the Trust of 93.5%
for the Class A certificates and 6.5% for the Class B certificates. The Trust
property includes a pool of retail instalment sale contracts for new and used
automobiles and light trucks, certain monies due thereunder, and security
interests in the vehicles financed thereby. The Seller has the option to
repurchase the remaining receivables as of the last day of any month on or after
which the principal balance declines below 10% of the aggregate amount financed.


NOTE 3.  PRINCIPAL AND INTEREST PAYMENTS

Principal (including prepayments) and interest are passed through and
distributed pro rata to Class A and Class B certificateholders on each
distribution date commencing July 15, 1994. Principal consists of payments on
the receivables that are allocable to repayment of the amount sold as determined
on a constant interest rate basis (the "actuarial method"). Interest is passed
through and distributed to Class A certificateholders at one-twelfth of the pass
through rate of 6.30% per annum. Interest consists of payments on the
receivables that are allocable to finance charges, using the actuarial method,
net of fees and expenses. The rights of the Class B certificateholders to
receive monthly distributions with respect to the receivables are subordinated
to the rights of the Class A certificateholders. The distribution date is the
15th day of each month (or, if such 15th day is not a business day, the next
following business day).


NOTE 4.  FEDERAL INCOME TAX

The Trust is classified as a grantor trust, and therefore is not taxable as a
corporation for federal income tax purposes. Each certificateholder will be
treated as the owner of a pro rata undivided interest in each of the receivables
in the Trust.







                                    II-43

                            GMAC 1994-A GRANTOR TRUST

                          NOTES TO FINANCIAL STATEMENTS

NOTE 5.  SUBSEQUENT EVENT

Effective February 23, 1996, the Board of Directors of GMAC Auto Receivables
Corporation approved the merger of and authorized the execution of an Agreement
and Plan of Merger by and between Capital Auto Receivables, Inc., and GMAC Auto
Receivables Corporation.  The separate corporate existence of GMAC Auto
Receivables Corporation shall cease and Capital Auto Receivables, Inc. shall
continue as the surviving corporation.

                               _______________















                                    II-44


                            GMAC 1994-A GRANTOR TRUST

                    SUPPLEMENTARY FINANCIAL DATA (unaudited)

                    SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME



1995 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

First quarter ......................    $   105.9   $   13.6   $   119.5

Second quarter .....................        104.4       12.0       116.4

Third quarter ......................         98.3       10.4       108.7

Fourth quarter .....................         87.0        8.9        95.9
                                        ---------   --------   ---------
     Total .........................    $   395.6   $   44.9   $   440.5
                                        =========   ========   =========



1994 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

Third quarter ......................    $   125.0   $   17.5   $   142.5

Fourth quarter .....................        125.1       15.5       140.6
                                        ---------   --------   ---------
     Total .........................    $   250.1   $   33.0   $   283.1
                                        =========   ========   =========

























                                    II-45

                          INDEPENDENT AUDITORS' REPORT


March 1, 1996


The GMAC 1995-A Grantor Trust, its Certificateholders, GMAC Auto Receivables
Corporation, and The First National Bank of Chicago, Trustee:

We have audited the accompanying Statement of Assets and Liabilities of the GMAC
1995-A Grantor Trust as of December 31, 1995 and the related Statement of
Distributable Income for the period March 16, 1995 (inception) through December
31, 1995. 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 generally accepted auditing standards.
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
are prepared on the basis of cash receipts and disbursements, which is a
comprehensive basis of accounting other than generally accepted accounting
principles.

In our opinion, such financial statements present fairly, in all material
respects, the assets and liabilities of the GMAC 1995-A Grantor Trust at
December 31, 1995 and its distributable income and distributions for the period
March 16, 1995 (inception) through December 31, 1995, on the basis of accounting
described in Note 1.


s\ Deloitte & Touche LLP
-------------------------
Deloitte & Touche LLP
600 Renaissance Center
Detroit, Michigan 48243


















                                     II-46

                            GMAC 1995-A GRANTOR TRUST

                       STATEMENT OF ASSETS AND LIABILITIES



                                               December 31, 1995
                                               -----------------
ASSETS                                      (in millions of dollars)

Receivables (Note 2) .............................. $ 744.3
                                                    -------

TOTAL ASSETS ...................................... $ 744.3
                                                    =======


LIABILITIES

Asset-Backed Certificates
  (Notes 2 and 3) ................................. $ 744.3
                                                    -------

TOTAL LIABILITIES ................................. $ 744.3
                                                    =======


Reference should be made to the Notes to Financial Statements.

































                                     II-47

                            GMAC 1995-A GRANTOR TRUST

                        STATEMENT OF DISTRIBUTABLE INCOME



                                               Year Ended
                                           December 31, 1995*
                                           -----------------
                                        (in millions of dollars)
Distributable Income

  Allocable to Principal ...................... $  360.3

  Allocable to Interest  ......................     50.5
                                                --------
Distributable Income .......................... $  410.8
                                                ========


Income Distributed ............................ $  410.8
                                                ========



* Represents the period March 16, 1995 (inception) through December 31, 1995.



Reference should be made to the Notes to Financial Statements.






























                                     II-48

                            GMAC 1995-A GRANTOR TRUST

                          NOTES TO FINANCIAL STATEMENTS

NOTE 1.  BASIS OF ACCOUNTING

The financial statements of the GMAC 1995-A Grantor Trust (the "Trust") are
prepared on the basis of cash receipts and cash disbursements. Such financial
statements differ from financial statements prepared in accordance with
generally accepted accounting principles in that interest income and the related
assets are recognized when received rather than when earned and distributions to
certificateholders are recognized when paid rather than when the obligation is
incurred. Certain expenses of the Trust are paid by GMAC Auto Receivables
Corporation (the "Seller").


NOTE 2.  SALE OF CERTIFICATES

On March 16, 1995, GMAC 1995-A Grantor Trust acquired retail finance receivables
aggregating approximately $1,104.6 million from the Seller in exchange for
certificates representing undivided ownership interests in the Trust of 93.5%
for the Class A certificates and 6.5% for the Class B certificates. The Trust
property includes a pool of retail instalment sale contracts for new and used
automobiles and light trucks, certain monies due thereunder and security
interests in the vehicles financed thereby. The Seller has the option to
repurchase the remaining receivables as of the last day of any month on or after
which the principal balance declines below 10% of the aggregate amount financed.


NOTE 3.  PRINCIPAL AND INTEREST PAYMENTS

Principal (including prepayments) and interest are passed through and
distributed pro rata to Class A and Class B certificateholders on each
distribution date commencing April 17, 1995. Principal consists of payments on
the receivables that are allocable to repayment of the amount sold as determined
on a constant interest rate basis (the "actuarial method"). Interest is passed
through and distributed to Class A certificateholders at one-twelfth of the pass
through rate of 7.15% per annum. Interest consists of payments on the
receivables that are allocable to finance charges, using the actuarial method,
net of fees and expenses. The rights of the Class B certificateholders to
receive monthly distributions with respect to the receivables are subordinated
to the rights of the Class A certificateholders. The distribution date is the
15th day of each month (or, if such 15th day is not a business day, the next
following business day).


NOTE 4.  FEDERAL INCOME TAX

The Trust is classified as a grantor trust, and therefore is not taxable as a
corporation for federal income tax purposes. Each certificateholder will be
treated as the owner of a pro rata undivided interest in each of the receivables
in the Trust.







                                    II-49


                            GMAC 1995-A GRANTOR TRUST

                          NOTES TO FINANCIAL STATEMENTS

NOTE 5.  SUBSEQUENT EVENT

Effective February 23, 1996, the Board of Directors of GMAC Auto Receivables
Corporation approved the merger of and authorized the execution of an Agreement
and Plan of Merger by and between Capital Auto Receivables, Inc. and GMAC Auto
Receivables Corporation.  The separate corporate existence of GMAC Auto
Receivables Corporation shall cease and Capital Auto Receivables, Inc. shall
continue as the surviving corporation.

                                _________________















                                    II-50

                            GMAC 1995-A GRANTOR TRUST

                    SUPPLEMENTARY FINANCIAL DATA (unaudited)

                    SUMMARY OF QUARTERLY DISTRIBUTABLE INCOME




1995 Quarters                           Principal   Interest       Total
------------------------------------    ---------   --------       -----
                                             (in millions of dollars)

Second quarter .....................    $   118.8   $   19.0   $   137.8

Third quarter ......................        127.5       16.9       144.4

Fourth quarter .....................        114.0       14.6       128.6
                                        ---------   --------   ---------
     Total .........................    $   360.3   $   50.5   $   410.8
                                        =========   ========   =========







































                                    II-51

                                   PART IV


ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K.


   (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).

           --   GMAC 1991-C Grantor Trust Financial Statements for the Year
                  Ended December 31, 1995.

           --   GMAC 1992-D Grantor Trust Financial Statements for the Year
                  Ended December 31, 1995.

           --   GMAC 1992-E Grantor Trust Financial Statements for the Year
                  Ended December 31, 1995.

           --   GMAC 1992-F Grantor Trust Financial Statements for the Year
                  Ended December 31, 1995.

           --   GMAC 1993-A Grantor Trust Financial Statements for the Year
                  Ended December 31, 1995.

           --   GMAC 1993-B Grantor Trust Financial Statements for the Year
                  Ended December 31, 1995.

           --   GMAC 1994-A Grantor Trust Financial Statements for the Year
                  Ended December 31, 1995.

           --   GMAC 1995-A Grantor Trust Financial Statements for the period
                  March 16, 1995 through December 31, 1995.



 (b)     REPORTS ON FORM 8-K.

            No current reports on Form 8-K have been filed by any of the
            above-mentioned Grantor Trusts during the fourth quarter ended
            December 31, 1995.

ITEMS 2, 3, 4, 5, 6, 9, 10, 11, 12 and 13 are not applicable and have been
omitted.








                                     IV-1

                                  SIGNATURE


Pursuant to the requirements of Section 13 of the Securities Exchange Act of
1934, the Trustee has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



                                      GMAC 1991-C GRANTOR TRUST GMAC 1992-D
                                      GRANTOR TRUST GMAC 1992-E GRANTOR TRUST
                                      GMAC 1992-F GRANTOR TRUST GMAC 1993-A
                                      GRANTOR TRUST GMAC 1993-B GRANTOR TRUST
                                      GMAC 1994-A GRANTOR TRUST GMAC 1995-A
                                      GRANTOR TRUST


                                  The First National Bank of Chicago
                                              (Trustee)



                                  s\     Steven M. Wagner
                                  ----------------------------------
                                  (Steven M. Wagner, Vice President)

Date: March 13, 1996
      --------------
































                                     IV-2