**FORM 10-K**

 

**SECURITIES AND EXCHANGE COMMISSION**

 

**Washington,D.C. 20549**

 

| **ý**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   | **ANNUAL REPORT PURSUANT TO  SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934.**     |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                                                                                 |
| **For the year ended December 31, 2004.**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                                                                                 |
| **OR**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |   |                                                                                                 |
| **o**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   | **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: 333-105878-06**

 

**AMERICREDIT AUTOMOBILE RECEIVABLESTRUST 2004-C-A**

(Exact name of Registrant asspecified in its charter)

 

| **Delaware**                                                                                             |   | **11-6595675**                         |
|----------------------------------------------------------------------------------------------------------|--------|----------------------------------------|
| (State or  other jurisdiction of  incorporation or organization)                                         |   | (I.R.S.  employer  identification no.) |
|                                                                                                     |   |                                   |
| **AmeriCredit  Financial Services, Inc. (as originator)  801 Cherry Street, Suite 3900  Fort Worth, TX** |   | **76102**                              |
| (Address of  principal executive offices)                                                                |   | (Zip Code)                             |

 

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

 

## Securities RegisteredPursuant to Section 12 (b) of the Securities Exchange Act of 1934:      **None**

 

Securities Registered Pursuantto Section 12 (g) of the Securities Exchange Act of 1934:      **None**

 

Indicate by checkmark whether the Registrants (1) have filed all reports required to be filed bySection 13 or 15 (d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the Registrant wasrequired to file such reports), and  (2)have been subject to such filing requirements for the past 90 days.

 

Yes ý    Noo

 

Indicate bycheckmark whether the registrant is an accelerated filer (as defined in Rule12b-2 of the Act).  Yes o  No ý

 

Indicate by checkmark if the disclosure of delinquent filers pursuant to Item 405 of RegulationS-K is not contained herein and will not be contained, to the best of theRegistrants’ knowledge, in definitive proxy or information statementsincorporated by reference in Part III of this Form 10-K or any amendment tothis Form 10-K.   ý

 

### The aggregatemarket value of the voting stock held by non-affiliates of the Registrant:   **None**

 

 

----

 

PART  I

 

ITEM1.          BUSINESS

 

A response to Item 1 is omitted in relianceon guidance provided in the Bay View Auto Trusts No-Action Letter (January 15,1998).

 

ITEM2.          PROPERTIES

 

None.

 

ITEM3.          LEGAL PROCEEDINGS

 

None.

 

ITEM4.          SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

 

None.

 

PART  II

 

ITEM5.          MARKET FOR REGISTRANT’S COMMON EQUITY AND RELATEDSTOCKHOLDER MATTERS

 

As of January 26,2005, there was one holder of record of the securities.  See also Item 12. Security Ownership ofCertain Beneficial Owners and Management. There was no principal market in which the securities traded.

 

 

ITEM6.          SELECTED FINANCIAL DATA

 

A responseto Item 6 is omitted in reliance on guidance provided in the Bay View AutoTrusts No-Action Letter (January 15, 1998).

 

2

----

 

ITEM7.          MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIALCONDITION AND RESULTS OF OPERATIONS

 

A response to Item 7 isomitted in reliance on guidance provided in the Bay View Auto Trusts No-ActionLetter (January 15, 1998).

 

ITEM 7A.      QUANTITATIVE AND QUALITATIVE DISCLOSURESABOUT MARKET RISK

 

On August 31,2004, AmeriCredit Automobile Receivables Trust 2004-C-A issued the followingsecurities:

 
| $ | 161,000,000 |   | 1.765 | % | Class A-1 Notes |
|---|-------------|--------|-------|---|-----------------|
| $ | 228,000,000 |   | 2.39  | % | Class A-2 Notes |
| $ | 205,000,000 |   | 3.00  | % | Class A-3 Notes |
| $ | 206,000,000 |   | 3.61  | % | Class A-4 Notes |

 

TheTrust’s gross interest rate spread, which is the difference between interestearned on its finance receivables and interest paid on its debt securities, isaffected by changes in interest rates. The interest rate demanded by investors on the debt securities dependson prevailing market interest rates for comparable transactions and the generalinterest rate environment.  These debtsecurities can bear either fixed or variable interest rates.  The Trust can utilize derivative financialinstruments, interest rate swap and cap agreements, to minimize the impact ofthe interest rate fluctuations on the gross interest rate margin.

 

Thefinance receivables held by the Trust bear interest at a fixed rate, while thedebt securities bear either a fixed or floating rate to the investors.  The fixed rates on the debt securities areindexed to market interest rate swap levels for transactions of similar durationor various London Interbank Offered Rates (“LIBOR”) and do not fluctuate duringthe term of the transaction.  As noted inthe table above the Trust issued four classes of fixed rate debt securities.

 

Thefollowing table provides information about the Trust’s interest rate sensitivefinancial instruments by expected maturity date as of December 31, 2004(dollars in thousands):

 
| **Years Ending December 31,**       | ** ** | **2005** | ** ** | **2006** | ** ** | **2007** | ** ** | **2008** | ** ** | **Fair Value** | ** ** |
|------------------------------------------|------------|----------|------------|----------|------------|----------|------------|----------|------------|----------------|------------|
|                                     |       |     |       |     |       |     |       |     |       |           |       |
| Assets:                                  |       |     |       |     |       |     |       |     |       |           |       |
| Finance receivables                      |       | $        | 269,031    |     | $          | 215,874  |       | $        | 150,275    |           | $          | 161,459 |   | $ | 860,691 |   |
|                                     |       |     |       |     |       |     |       |     |       |           |       |
| Liabilities:                             |       |     |       |     |       |     |       |     |       |           |       |
| Debt securities issued principal amounts |       | $        | 253,244    |     | $          | 180,255  |       | $        | 125,479    |           | $          | 134,819 |   | $ | 717,941 |   |
| Weighted average effective interest rate |       | 3.05     | %          | 3.35     | %          | 3.57     | %          | 3.61     | %          |           |       |

 

3

----

 

As of December 31,2004, finance receivables are estimated to be realized in future periods usingdiscount rates, prepayment and credit loss assumptions based on historical experience.  Debt securities issued principal amounts havebeen classified based on expected payoff.

 

ITEM8.          FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

 

A response to Item 8 isomitted in reliance on guidance provided in the Bay View Auto Trusts No-Action Letter(January 15, 1998).

 

ITEM9.          CHANGE IN AND DISAGREEMENTS WITH ACCOUNTANTS ONACCOUNTING AND FINANCIAL DISCLOSURE

 

None.

 

ITEM9A.      CONTROLS AND PROCEDURES

 

Aresponse to Item 9A is omitted pursuant to 17 C.F.R. §§ 240.13a-14(g) and240.13a-15(a).

 

ITEM 9B.       OTHER INFORMATION

 

None.

 

PART  III

 

ITEM10.        DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

 

A response to Item 10 isomitted in reliance on guidance provided in the Bay View Auto Trusts No-ActionLetter (January 15, 1998).

 

ITEM11.        EXECUTIVE COMPENSATION

 

A response to Item 11 isomitted in reliance on guidance provided in the Bay View Auto Trusts No-ActionLetter (January 15, 1998).

 

ITEM 12.        SECURITY OWNERSHIP OF CERTAIN BENEFICIALOWNERS AND MANAGEMENT

 

AFSSenSub Corp. was the only holder of record which beneficially owns more than 5%of the Certificates.  The dollar andpercentage amounts reflected in the table below are based upon the face amountof the Certificates as of the Closing Date, and do not reflect amortization, ifany, since that date.

 

4

----

 
| **Name and Address of Participant** | ** ** | **Amount of Certificates  Beneficially Owned** | ** ** | **Percentage of Certificates  Beneficially Owned** | ** ** |
|-------------------------------------|------------|------------------------------------------------|------------|----------------------------------------------------|------------|
| AFS SenSub Corp.                    |       | no face  amount                                |       | 100                                                | %          |
| 639 Isbell Road, Suite 390          |       | (residual  value)                              |       |                                               |       |
| Reno, NV 89509                      |       |                                           |       |                                               |       |

 

ITEM13.        CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

 

(a)   Transactionswith Management and Others.

 

None.

 

(b)   CertainBusiness Relationships.

 

None.

 

(c)   Indebtednessof Management.

 

None.

 

ITEM14.        PRINCIPAL ACCOUNTANT FEES AND SERVICES

 

A response to Item 14 isomitted pursuant to the Instruction to Item 14.

 

PART  IV

 

ITEM 15.        EXHIBITS, FINANCIAL STATEMENT SCHEDULESAND REPORTS ON FORM 8-K

 

(a)   Exhibits

 
| **Exhibit Number** | ** ** | **Description**                                                                                                                                                         | ** ** | **Method of filing**    | ** ** |
|--------------------|------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-------------------------|------------|
|               |       |                                                                                                                                                                    |       |                    |       |
| Exhibit 31.1       |       | Executive  Vice President, Chief Financial Officer and Treasurer Certification Pursuant to  Section 302(a) of the Sarbanes-Oxley Act of 2002 Relating to Reporting |       | Filed with  this report |       |
|               |       |                                                                                                                                                                    |       |                    |       |
| Exhibit 99.1       |       | Annual  Servicer Statement of Compliance                                                                                                                                |       | Filed with  this report |       |
|               |       |                                                                                                                                                                    |       |                    |       |
| Exhibit 99.2       |       | Report of  Independent Auditors                                                                                                                                         |       | Filed with  this report |       |

 

5

----

 

(b)   Reports on Form 8-K

 

Thecurrent report on Form 8-K attaching the related transaction documents werefiled by AmeriCredit Automobile Receivables Trust 2004-C-A on September 7,2004.

 

Thecurrent reports on Form 8-K attaching the related Monthly Servicer’s Reportwere filed by AmeriCredit Automobile Receivables Trust 2004-C-A on October 12,2004 the month ending September 30, 2004 and November 10, 2004 forthe month ending October 31, 2004 and December 10, 2004 for the monthending November 30, 2004 and January 10, 2005 for the month ending December 31,2004.

 

(c)   Exhibits to this report are listed inItem 15(a) above.

 

SIGNATURES

 

Pursuant to therequirements of Section 13 or 15 (d) of the Securities Exchange Act of1934, AmeriCredit Automobile Receivables Trust 2004-C-A has duly caused thisreport to be signed on its behalf by the undersigned, thereunto dulyauthorized.

 
|   | AMERICREDIT  AUTOMOBILE RECEIVABLES TRUST 2004-C-A |
|--------|----------------------------------------------------|
|   |                                               |   |
|   |                                               |   |
|   | By:                                                | AMERICREDIT  FINANCIAL SERVICES, INC., |
|   |                                               | as sponsor and  as servicer |
|   |                                               |   |
|   |                                               |   |
|   | By:                                                | /s/ Chris A.  Choate |   |
|   |                                               | Name: | Chris A. Choate |
|   |                                               | Title: | Executive Vice  President, Chief Financial Officer and Treasurer |
|   |                                               | Dated: | January 26,  2005 |
|        |                                                    |  |  |  |

 

6

----

 

EXHIBIT INDEX

 

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2004-C-A

 
| **Exhibit Number** | ** ** | **Description**                                                                                                                                                         | ** ** | **Method of filing**    | ** ** |
|--------------------|------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|-------------------------|------------|
|               |       |                                                                                                                                                                    |       |                    |       |
| Exhibit 31.1       |       | Executive  Vice President, Chief Financial Officer and Treasurer Certification Pursuant to  Section 302(a) of the Sarbanes-Oxley Act of 2002 Relating to Reporting |       | Filed with  this report |       |
|               |       |                                                                                                                                                                    |       |                    |       |
| Exhibit 99.1       |       | Annual  Servicer Statement of Compliance                                                                                                                                |       | Filed with  this report |       |
|               |       |                                                                                                                                                                    |       |                    |       |
| Exhibit 99.2       |       | Report of  Independent Auditors                                                                                                                                         |       | Filed with  this report |       |

 

7

----