**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 theyear ended December 31, 2002.**

 

**OR**

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

 

For the transition period from                       to                             .

 

**AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-1, ISSUERAMERICREDIT FINANCIAL SERVICES, INC., AS SPONSOR OF THE TRUSTAFS FUNDING CORP., AS SELLER******(Exact name ofRegistrants as specified in their characters)

 

**801Cherry Street, Suite 3900Fort Worth, Texas 76102(817) 302-7000**(Address andTelephone Number of Principal Executive Office)

 
| Securities Registered Pursuant to Section 12 (b) of  the Securities Exchange Act of 1934: |   | None   |
|-------------------------------------------------------------------------------------------|--------|--------|
|                                                                                      |   |   |
| Securities Registered Pursuant to Section 12 (g) of  the Securities Exchange Act of 1934: |   | None   |

 

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

 

Yes  ý    No  o

 

Indicate by check mark if the disclosure of delinquent filers pursuantto Item 405 of Regulation S-K is not contained herein and will not becontained, to the best of the Registrants’ knowledge, in definitive proxy orinformation statements incorporated by reference in Part III of this Form 10-Kor any amendment to this Form 10-K.  ý

 
| The aggregate market value of the voting stock held  by non-affiliates of the Registrants. |   | None |
|--------------------------------------------------------------------------------------------|--------|------|

 

 

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As of January 29, 2003, there were 100 shares of AmeriCredit FinancialServices, Inc. Common Stock outstanding and 100 shares of AFS Funding Corp.Common Stock outstanding.

 

The Registrants meet the conditions set forth in General Instruction(I) (1) (a) and (b) of Form 10-K and is therefore filing this Form 10-K withthe reduced disclosure format permitted thereunder.

 

 

PART  I

 

ITEM 1.  BUSINESS

 

AFS Funding Corp. is a wholly-owned bankruptcy-remotesubsidiary of AmeriCredit Financial Services, Inc.  AmeriCredit Automobile Receivables Trust 2002-1 (the “Trust”) isa bankruptcy-remote Delaware Business Trust. The Trust was formed solely for the purpose of acquiring from AFSFunding Corp. certain motor vehicle retail installment sales contracts (the“Contracts”) and interests in the automobiles underlying the contracts andsecuritizing the contracts through the issuance of debt securities (the“Notes”).  As bankruptcy-remoteentities, AFS Funding Corp. and the Trust are restricted so that (a) they donot engage in business with, or incur liabilities to, any other entity (otherthan the Trustee on behalf of the holders of the Notes) which may bringbankruptcy proceedings against AFS Funding Corp. or the Trust and (b) the riskthat they will be consolidated into the bankruptcy proceedings of any otherentity is diminished.  AFS Funding Corp.and the Trust have no other assets other than the Contracts and an interest inthe automobiles underlying the Contracts and proceeds thereof.

 

ITEM 2.  PROPERTIES

 

None.

 

ITEM 3.  LEGAL PROCEEDINGS

 

None.

 

ITEM 4.  SUBMISSION OF MATTERSTO A VOTE OF SECURITY HOLDERS

 

None.

 

 

PART  II

 

ITEM 5.  MARKET FOR REGISTRANT’SCOMMON EQUITY AND RELATED STOCKHOLDER MATTERS

 

The sole holder of AmeriCredit Financial Services,Inc.’s equity shares is AmeriCredit Corp. and the sole holder of AFS FundingCorp.’s equity shares is AmeriCredit Financial

 

 

 

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Services, Inc. There is currently no market for the equity shares of AmeriCreditFinancial Services, Inc. or AFS Funding Corp. nor is it anticipated that such amarket will develop.

 

ITEM 6.  SELECTED FINANCIAL DATA

 

Not Applicable.

 

ITEM7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTSOF OPERATIONS

 

Not Applicable.

 

ITEM 8.  FINANCIAL STATEMENTSAND SUPPLEMENTAL DATA

 

Not Applicable.

 

ITEM 9.  CHANGE IN ANDDISAGREEMENTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

 

None.

 

ITEM 10.  DIRECTORS AND OFFICERSOF THE REGISTRANT

 

Not Applicable.

 

ITEM 11.  EXECUTIVE COMPENSATION

 

Not Applicable.

 

ITEM 12.  SECURITY OWNERSHIP OFCERTAIN BENEFICIAL OWNERS AND MANAGEMENT

 

Not Applicable.

 

ITEM 13.  CERTAIN RELATIONSHIPSAND RELATED TRANSACTIONS

 

Not Applicable.

 

 

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PART  IV

 

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

 

The exhibits filed in response to Item 601 ofRegulation S-K are listed in the Exhibit Index.

 

 

 

SIGNATURES

 

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

 
|   |   | AFS FUNDING CORP. |
|--------|--------|-------------------|
|   |   |              |   |   |
|   |   | By:               | /s/ Preston A. Miller |   |
|   |   |              | Name: | Preston A. Miller |
|   |   |              | Title: | Executive Vice President and Treasurer |
|   |   |              |   |   |
|   |   |              | Dated: | January 29, 2003 |
|        |        |                   |  |  |  |

 

 

 

SIGNATURES

 

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

 
|   |   | AMERICREDIT FINANCIAL SERVICES, INC. |
|--------|--------|--------------------------------------|
|   |   |                                 |   |   |
|   |   | By:                                  | /s/ Preston A. Miller |   |
|   |   |                                 | Name: | Preston A. Miller |
|   |   |                                 | Title: | Executive Vice President and Treasurer |
|   |   |                                 |   |   |
|   |   |                                 | Dated: | January 29, 2003 |
|        |        |                                      |  |  |  |

 

 

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SIGNATURES

 

Pursuant to the requirements of Section 13 or 15 (d)of the Securities Exchange Act of 1934, AmeriCredit Automobile ReceivablesTrust 2002-1 has duly caused this report to be signed on its behalf by theundersigned, thereunto duly authorized.

 
|   |   | AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2002-1 |
|--------|--------|-------------------------------------------------|
|   |   |                                            |   |   |
|   |   | By:                                             | AMERICREDIT FINANCIAL SERVICES, INC., |
|   |   |                                            | as sponsor and as servicer |
|   |   |                                            |   |   |
|   |   | By:                                             | /s/ Preston A. Miller |   |
|   |   |                                            | Name: | Preston A. Miller |
|   |   |                                            | Title: | Executive Vice President and Treasurer |
|   |   |                                            |   |   |
|   |   |                                            | Dated: | January 29, 2003 |
|        |        |                                                 |  |  |  |

 

 

EXHIBIT INDEX

 
| 99.1   | Servicer’s Report for monthly period ended December  31, 2002 |
|--------|--------------------------------------------------------------------|
|   |                                                               |
| 99.2   | Officer’s Certification of Disclosure                         |

 

 

 

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