UNITED STATES



SECURITIES AND EXCHANGE COMMISSION



Washington, D.C. 20549



FORM 10-K



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



For the fiscal
year ended December 31, 2019



or



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



For the transition period from
________________ to ______________________



Commission file number of the issuing entity: 333-206924-11

CIK number of issuing entity: 0001754388



AMERICREDIT
AUTOMOBILE RECEIVABLES TRUST 2018-3



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



Commission
File Number of depositor: 333-206924

CIK number
of depositor: 0001347185



AFS SENSUB
CORP.

(Exact name
of depositor as specified in its charter)



Commission
File Number of sponsor: 001-13329

CIK number
of sponsor: 0001002761



AMERICREDIT
FINANCIAL SERVICES, INC.

(Exact name
of sponsor as specified in its charter)



|Delaware                        |  | 83-6393615         
|------------------------------- |  | -------------------
|(State or other jurisdiction of |  | (I.R.S. Employer   
|incorporation or organization)  |  | Identification No.)



|AmeriCredit Financial Services, Inc. (as originator) |  |           
|---------------------------------------------------- |  | ----------
|801 Cherry Street, Suite 3500                        |  |           
|Fort Worth, TX                                       |  | 76102     
|(Address of principal executive offices)             |  | (Zip Code)



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

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

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

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

Yes ☐	      No
☒

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

Yes ☐	      No
☒

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

Yes ☒	      No
☐

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

Yes ☒	      No
☐

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

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



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

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

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

Not applicable to this registrant.


















DOCUMENTS INCORPORATED BY REFERENCE



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



None.



PART I



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



|ITEM 1.  | BUSINESS         
|-------- | -----------------
|ITEM 1A. | RISK FACTORS     
|ITEM 2.  | PROPERTIES       
|ITEM 3.  | LEGAL PROCEEDINGS



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



None.



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



Not applicable.













PART II



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



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



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



None.



PART III



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



|ITEM 10. | DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE                                        
|-------- | ----------------------------------------------------------------------------------------------
|ITEM 11. | EXECUTIVE COMPENSATION                                                                        
|ITEM 12. | SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
|ITEM 13. | CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE                      
|ITEM 14. | PRINCIPAL ACCOUNTING FEES AND SERVICES                                                        













PART IV



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



|(a)(1) | Not applicable              
|------ | ----------------------------
|(2)    | Not applicable              
|(3)    | As reported under clause (b)



(b)



|Exhibit Number |  | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|-------------- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Exhibit 4.1    |  | Indenture, dated as of October 3, 2018, between AmeriCredit Automobile Receivables Trust 2018-3 and Citibank, N.A, as Trustee and Trust Collateral Agent (incorporated by reference from Exhibit 4.1 of the Current Report on Form 8-K filed by AmeriCredit Automobile Receivables Trust 2018-3 (File No. 333-206924-11) with the SEC on November 27, 2018).                                                                                                 
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Exhibit 4.2    |  | Amended and Restated Trust Agreement, dated as of October 3, 2018, between AFS SenSub Corp., as Seller, and Wilmington Trust Company, as Owner Trustee (incorporated by reference from Exhibit 4.2 of the Current Report on Form 8-K filed by AmeriCredit Automobile Receivables Trust 2018-3 (File No. 333-206924-11) with the SEC on November 27, 2018).                                                                                                   
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Exhibit 4.3    |  | Sale and Servicing Agreement, dated as of October 3, 2018, among AmeriCredit Automobile Receivables Trust 2018-3, as Issuer, AmeriCredit Financial Services, Inc., as Servicer, AFS SenSub Corp., as Seller, and Citibank, N.A, as Trust Collateral Agent (incorporated by reference from Exhibit 4.3 of the Current Report on Form 8-K filed by AmeriCredit Automobile Receivables Trust 2018-3 (File No. 333-206924-11) with the SEC on November 27, 2018).
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Exhibit 10.1   |  | Purchase Agreement, dated as of October 3, 2018, between AmeriCredit Financial Services, Inc., as Seller and AFS SenSub Corp., as Purchaser (incorporated by reference from Exhibit 10.1 of the Current Report on Form 8-K filed by AmeriCredit Automobile Receivables Trust 2018-3 (File No. 333-206924-11) with the SEC on November 27, 2018).                                                                                                             
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Exhibit 10.6   |  | Asset Representations Review Agreement, dated as of October 3, 2018, among AmeriCredit Automobile Receivables Trust 2018-3, AmeriCredit Financial Services, Inc., and Clayton Fixed Income Services LLC, as Asset Representation Reviewer (incorporated by reference from Exhibit 10.6 of the Current Report on Form 8-K filed by AmeriCredit Automobile Receivables Trust 2018-3 (File No. 333-206924-11) with the SEC on November 27, 2018).               
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Exhibit 31.1   |  | Rule 13a-14(a)/15d-14(a) Certification (Section 302 Certification).                                                                                                                                                                                                                                                                                                                                                                                          
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Exhibit 33.1   |  | Management’s Assertion Regarding Compliance with Applicable Servicing Criteria concerning servicing activities of AmeriCredit Financial Services, Inc. and its subsidiaries for the year ended December 31, 2019.                                                                                                                                                                                                                                            
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Exhibit 33.2   |  | Assessment of Compliance with Applicable Servicing Criteria (Citibank, N.A).                                                                                                                                                                                                                                                                                                                                                                                 
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Exhibit 34.1   |  | Report of Independent Registered Public Accounting Firm (Ernst & Young LLP).                                                                                                                                                                                                                                                                                                                                                                                 
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Exhibit 34.2   |  | Report of Independent Registered Public Accounting Firm (KPMG LLP).                                                                                                                                                                                                                                                                                                                                                                                          
|               |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|Exhibit 35.1   |  | Servicer Compliance Statement of AmeriCredit Financial Services, Inc.                                                                                                                                                                                                                                                                                                                                                                                        





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













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



None.



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



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



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



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



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



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



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



ITEM 1117 OF REGULATION AB. LEGAL PROCEEDINGS



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



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





On June 18, 2014, a civil action was filed against Citibank
in the Supreme Court of the State of New York by a group of investors in 48 private-label RMBS trusts for which Citibank allegedly
serves or did serve as trustee, asserting claims for purported violations of the Trust Indenture Act of 1939 (the “Trust
Indenture Act”), breach of contract, breach of fiduciary duty and negligence based on Citibank’s alleged failure to
perform its duties as trustee for the 48 RMBS trusts. On November 24, 2014, plaintiffs sought leave to withdraw this action. On
the same day, a smaller subset of similar plaintiff investors in 27 private-label RMBS trusts for which Citibank allegedly serves
or did serve as trustee, filed a new civil action against Citibank in the United States District Court for the Southern District
of New York asserting similar claims as the prior action filed in state court. In January 2015, the court closed plaintiffs’
original state court action. On September 8, 2015, the federal court dismissed all claims as to 24 of the 27 trusts and allowed
certain of the claims to proceed as to the other three trusts. Subsequently, plaintiffs voluntarily dismissed all claims with respect
to two of the three trusts. On April 7, 2017, Citibank filed a motion for summary judgment. Plaintiffs filed its consolidated opposition
brief and cross motion for partial summary judgment on May 22, 2017. Briefing on those motions was completed on August 4,
2017. On March 22, 2018, the court granted Citibank’s motion for summary judgment in its entirety, denied Plaintiffs’
motion for summary judgment and ordered the clerk to close the case. On April 20, 2018, plaintiffs filed a notice of appeal. Plaintiffs’
opening brief was filed on August 3, 2018. Citibank filed its opposition on November 2, 2018. Plaintiffs’ reply is due November
16, 2018. On June 7, 2019, the Second Circuit dismissed plaintiffs’ appeal following the parties’ filing of a stipulation
withdrawing the case with prejudice pursuant to Federal Rule of Appellate Procedure 42.



On November 24, 2015, the same investors that brought the federal
case brought a new civil action in the Supreme Court of the State of New York related to 25 private-label RMBS trusts for which
Citibank allegedly serves or did serve as trustee. This case includes the 24 trusts previously dismissed in the federal action,
and one additional trust. The investors assert claims for breach of contract, breach of fiduciary duty, breach of duty to avoid
conflicts of interest, and violation of New York’s Streit Act (the “Streit Act”). Following oral argument on
Citibank’s motion to dismiss, Plaintiffs filed an amended complaint on August 5, 2016. On June 27, 2017, the state court
issued a decision, dismissing the Event of Default claims, mortgage-file-related claims, the fiduciary duty claims, and the conflict
of interest claims. The decision sustained certain breach of contract claims including the claim alleging discovery of breaches
of representations and warranties, a claim related to robo-signing, and the implied covenant of good faith claim. Citibank appealed
the lower court’s decision, and on January 16, 2018, the Appellate Division, First Department, dismissed the claims related
to robo-signing and the implied covenant of good faith, but allowed plaintiffs’ claim alleging discovery of breaches of representations
and warranties to proceed. On June 7, 2019, plaintiffs filed a motion for discontinuance of the action and dismissal of plaintiffs’
claims with prejudice.



On August 19, 2015, the Federal Deposit Insurance Corporation
(FDIC) as Receiver for a failed financial institution filed a civil action against Citibank in the Southern District of New York.
This action relates to one private-label RMBS trust for which Citibank formerly served as trustee. FDIC asserts claims for breach
of contract, violation of the Streit Act, and violation of the Trust Indenture Act. Citibank jointly briefed a motion to dismiss
with The Bank of New York Mellon and U.S. Bank, N.A., entities that have also been sued by FDIC in their capacity as trustee, and
these cases have all been consolidated in front of Judge Carter. On September 30, 2016, the Court granted the motion to dismiss
without prejudice for lack of subject matter jurisdiction. On October 14, 2016, FDIC filed a motion for reargument or relief from
judgment from the Court’s dismissal order. On July 11, 2017, Judge Carter ruled on the motion for reconsideration regarding
his dismissal of the action. He denied reconsideration of his decision on standing, but granted leave to amend the complaint by
October 9, 2017. The FDIC subsequently requested an extension of time to file its amended complaint, which was granted. The FDIC
filed its amended complaint on December 8, 2017. Defendants’ jointly filed a motion to dismiss the amended complaint and
that joint motion was fully briefed as of May 3, 2018. On March 20, 2019, the Court granted Defendants’ joint motion
to dismiss the amended complaint. The FDIC’s deadline to file a notice of appeal was April 22, 2019. The FDIC has not appealed.



There can be no assurances as to the outcome
of litigation or the possible impact of litigation on the trustee or the RMBS trusts. However, Citibank denies liability and continues
to vigorously defend against these litigations. Furthermore, neither the above-disclosed litigations nor any other pending
legal proceeding involving Citibank will materially affect Citibank’s ability to perform its duties as Trustee under the
Indenture for this ABS transaction.





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



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













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



The following documents are filed as part of this
report.



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





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



ITEM 1123 OF REGULATION AB. SERVICER COMPLIANCE
STATEMENT



The following documents are filed as part of this
report.



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













SIGNATURES



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





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





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



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