Document:

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                                                                    Exhibit 10.2

                              AMENDMENT NO. 1 TO
                          SECOND AMENDED AND RESTATED
                        SECURITY AND FUNDING AGREEMENT

                  AMENDMENT NO. 1 (this "Amendment"), dated as of September 28,
                                         ---------
2001, to the SECOND AMENDED AND RESTATED SECURITY AND FUNDING AGREEMENT, dated
as of April 27, 2001, by and among AMERICREDIT MANHATTAN TRUST, a Delaware
business trust (the "Borrower"), THE CHASE MANHATTAN BANK, a New York banking
                     --------
corporation, as administrative agent on behalf of the Secured Parties and as
securities intermediary hereunder (together with its successors and assigns in
such capacities, the "Administrative Agent" and the "Securities Intermediary",
                      --------------------           -----------------------
respectively) and THE SEVERAL SECURED PARTIES AND FUNDING AGENTS PARTY THERETO
FROM TIME TO TIME.

                             W I T N E S S E T H :
                             - - - - - - - - - -

                  WHEREAS, the Borrower, the Administrative Agent, the Secured
 Parties and the Funding Agents have entered into a Second Amended and Restated
 Security and Funding Agreement, dated as of April 27, 2001 (the "Agreement");

                  WHEREAS, the parties hereto wish to amend the Agreement as
hereinafter provided.

                  NOW, THEREFORE, in consideration of the foregoing and of the
mutual covenants herein contained, the parties hereto hereby agree as follows:

                  SECTION 1. Defined Terms. Unless otherwise defined herein, the
                             -------------
terms used herein shall have the meanings assigned to such terms in, or
incorporated by reference into, the Agreement. For all purposes of this
Amendment, "Effective Date" shall mean September 28, 2001.

                  SECTION 2. Amendments to Agreement. The Agreement is hereby
                             -----------------------
amended, effective on the Effective Date, as follows:

                (a) Section 7.1(c) of the Agreement shall be deleted in its
entirety and shall be replaced by the following:
<PAGE>

                           (c) Advance Percentage. With respect to any Funding
---------------------------    ------------------
         Date, the advance percentage with respect to Receivables and Asset
         Backed Securities (the "Advance Percentage") to determine the Advance
                                 ------------------
         Amount shall be 100% with respect to Asset Backed Securities, subject
         to the reserve requirement to be established at or prior to the initial
         funding under the ABS Funding Sublimit, as acceptable to each Lending
         Group and the Primary Seller, and shall be 89% with respect to
         Receivables, subject in the case of Receivables to downward adjustment
         on such Funding Date as described below:

                           (1) if the cumulative net loss ratio for any AFS
         public term securitization entered into in the preceding 24-month
         period exceeds the limits set forth in Exhibit B hereto (and the
         Required Lending Groups have not waived such event), the Advance
         Percentage in effect at the opening of business on such Funding Date
         shall be reduced by 6% (without duplication of any reduction pursuant
         to clause (1) above); and

                           (2) if there is an Excess Spread Deficiency
         (calculated as of the close of business one (1) Business Day prior to
         such Funding Date), then the Advance Percentage shall be reduced by the
         product of (i) the amount of such Excess Spread Deficiency (stated as a
         percentage) multiplied by (ii) 2.0; provided that if the Advance
                     -------------           --------
         Percentage has been reduced as a result of the application of this
         clause (3), the Advance Percentage shall remain at such reduced
         percentage until such time as the Excess Spread Deficiency has been
         cured.

                           As used in this Section 7.1(c), "Trigger Event" shall
         mean (i) a "Trigger Event" as defined in any public asset-backed
         transaction, which transaction has been outstanding for twenty-four
         months or less from the related Funding Date or (ii) if applicable, any
         comparable "spread capture event" in any automobile receivables
         transaction conducted by any Securitization Trust, which transaction
         has been outstanding for twenty-four months or less from the date
         hereof, whether or not defined in such transaction as a "Trigger
         Event", and whether or not such transaction is a public transaction.

                  (b) The Agreement shall be amended by adding new Exhibits B
and C thereto in substantially the form of Annex A to this Amendment.

                                       2
<PAGE>

                  (c) The Agreement shall be amended (i) by deleting all
 references to "Victory Receivables Corporation" and by replacing them with
 "Gotham Funding Corporation" and (ii) by deleting all references to "Victory"
 and by replacing them with "Gotham".

                  SECTION 3. Execution in Counterparts. This Amendment may be
                             -------------------------
 executed in any number of counterparts and by different parties hereto on
 separate counterparts, each of which counterparts, when so executed and
 delivered, shall be deemed to be an original and all of which counterparts,
 taken together, shall constitute but one and the same Amendment.

                  SECTION 4. Consents; Binding Effect. The execution and
                             ------------------------
delivery by the parties hereto of this Amendment shall constitute the written
consent of each of them to this Amendment and to Amendment No. 3, dated as of
September 28, 2001, to the Sale and Servicing Agreement, dated as of September
14, 2000, between the Borrower, AmeriCredit Financial Services, Inc.,
AmeriCredit Funding Corp. V and the Administrative Agent. This Amendment shall
be binding upon, and inure to the benefit of, the parties hereto and their
respective successors and assigns.

                  SECTION 5. Governing Law. This Amendment shall be governed by,
                             -------------
and construed in accordance with, the laws of the State of New York.

                  SECTION 6. Severability of Provisions. Any provision of this
                             --------------------------
 Amendment which is prohibited or unenforceable in any jurisdiction shall, as to
 such jurisdiction, be ineffective to the extent of such prohibition or
 unenforceability without invalidating the remaining provisions hereof or
 affecting the validity or enforceability of such provision in any other
 jurisdiction.

                  SECTION 7. Captions. The captions in this Amendment are for
                             --------
convenience of reference only and shall not define or limit any of the terms or
provisions hereof.

                  SECTION 8. Agreement to Remain in Full Force and Effect.
                             --------------------------------------------
Except as amended hereby, the Agreement shall remain in full force and effect
and is hereby ratified, adopted and confirmed in all respects. This Amendment
shall be deemed to be an amendment to the Agreement. All references in the
Agreement to "this Agreement", "hereunder", "hereof", "herein", or words of like
import, and all references to the Agreement in any other agreement or document
shall hereafter be deemed to refer to the Agreement as amended hereby.

                                       3
<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have caused this
Amendment No. 1 to the Second Amended and Restated Security and Funding
Agreement to be executed as of the date and year first above written.

                                        AMERICREDIT MANHATTAN TRUST,
                                         as Borrower

                                        By: Bankers Trust (Delaware), solely
                                               in its capacity as Trustee

                                        By:
                                           -------------------------
                                           Name:
                                           Title:

                                        THE CHASE MANHATTAN BANK,
                                         as Administrative Agent on
                                         behalf of the Secured Parties

                                        By:
                                           -------------------------
                                           Name:
                                           Title:

                                        THE CHASE MANHATTAN BANK,
                                         as PARCO Funding Agent

                                        By:
                                           -------------------------
                                           Name:
                                           Title:

                                       4
<PAGE>

                                        PARK AVENUE RECEIVABLES CORPORATION,
                                         as a Secured Party

                                        By:
                                           -------------------------
                                           Name:
                                           Title:

                                        ING BARING (U.S.) CAPITAL MARKETS,
                                         LLC, as HLS Funding Agent

                                        By:
                                           -------------------------
                                           Name:
                                           Title:

                                        HOLLAND LIMITED SECURITIZATION, INC.,
                                         as a Secured Party

                                        By:
                                           -------------------------
                                           Name:
                                           Title:

                                       5
<PAGE>

                                        EIFFEL FUNDING, LLC,
                                         as a Secured Party

                                        By: Global Securitization Services,
                                         LLC, its Manager

                                        By:
                                           -------------------------
                                           Name:
                                           Title:

                                        CDC FINANCIAL PRODUCTS INC.,
                                         as Eiffel Funding Agent

                                        By:
                                           -------------------------
                                           Name:
                                           Title:

                                        By:
                                           -------------------------
                                           Name:
                                           Title:

                                       6
<PAGE>

                                        GOTHAM FUNDING CORPORATION,
                                         as a Secured Party

                                        By:
                                           -------------------------
                                           Name:
                                           Title:

                                        THE BANK OF TOKYO-MITSUBISHI,
                                         LTD., NEW YORK BRANCH, as a
                                         Funding Agent

                                        By:
                                           -------------------------
                                           Name:
                                           Title:

                                       7
<PAGE>

Consented to and agreed
 as of the date first above written:

FLEET NATIONAL BANK,
 as a PARCO APA Bank

By:
   -------------------------
  Name:
  Title:

                                       8
<PAGE>

                                                                  Annex A
                                                                  -------

                           [EXHIBIT B TO AGREEMENT]

                                       9<PAGE>

                                                                    Exhibit 10.3

       FOURTH AMENDMENT TO SECURITY AGREEMENT AND NOTE PURCHASE AGREEMENT

       FOURTH AMENDMENT (this "Amendment"), dated as of September 26, 2001, to:
                               ---------
(i) the Security Agreement, dated as of September 30, 1999 (as amended or
modified the "Security Agreement") by and among AMERICREDIT BOA TRUST, a
Delaware business trust, as debtor (in such capacity, the "Debtor"), AMERICREDIT
                                                           ------
FINANCIAL SERVICES, INC., a Delaware corporation ("AmeriCredit"), individually
                                                   -----------
and in its capacity as collection agent (in such capacity, the "Collection
                                                                ----------
Agent"), AMERICREDIT FUNDING CORP. II, a Delaware corporation ("AFC II"),
-----                                                           ------
individually, KITTY HAWK FUNDING CORPORATION, a Delaware corporation (the
"Company") and BANK OF AMERICA, N.A., a national banking association ("Bank of
 -------                                                               -------
America"), individually and as collateral agent for the Secured Parties (in such
-------
capacity, the "Collateral Agent") and (ii) the Note Purchase Agreement, dated as
               ----------------
of September 30, 1999 (as amended or modified, the "Note Purchase Agreement)
dated as of September 30, 1999, among the Company, the Debtor and Bank of
America, as agent for the Company and the Bank Investors (in such capacity,
together with its successors, the "Agent"), as administrative agent for the
                                   -----
Company (the "Administrative Agent") and as a Bank Investor (in such capacity, a
"Bank Investor").
 -------------

                             PRELIMINARY STATEMENTS

       WHEREAS, by Amendments to the Security Agreement and Note Purchase
Agreement dated as of May1, 2000, September 27, 2000, January 30, 2001 and May
15, 2001, certain amendments were made to the Security Agreement and Note
Purchase Agreement and:

       WHEREAS, the parties hereto are party to the Security Agreement and the
Note Purchase Agreement and the Debtor, AFC II and the Collection Agent have
requested that the Company, the Bank Investor, the Collateral Agent and the
Agent agree to make certain changes and amendments to the Security Agreement and
Note Purchase Agreement; and

       WHEREAS, subject to the terms and conditions set forth herein, the
Company, the Bank Investor, the Collateral Agent and the Agent are willing to
make such changes and amendments to the Security Agreement and Note Purchase
Agreement.

       NOW, THEREFORE, the parties hereby agree as follows:

       1. Defined Terms. Except as otherwise set forth herein, capitalized terms
          -------------
used but not defined herein shall have the respective meanings assigned to such
terms in the Security Agreement.

       2. Amendment to the Security Agreement and Note Purchase Agreement.
          ---------------------------------------------------------------

       (a) Section 1.1 of the Security Agreement is hereby amended by amending
and restating the definition of "Commitment Termination Date" in its entirety as
                                 ---------------------------
follows:
<PAGE>

              "Commitment Termination Date" shall mean September 25, 2002, or
               ---------------------------
              such later date to which the Commitment Termination Date may be
              extended by the Debtor, the Agent and the Bank Investors not later
              than 30 days prior to the then current Commitment Termination
              Date."

       3. Representations and Warranties. To induce the Company, the Bank
          ------------------------------
Investor, the Collateral Agent and the Agent to enter into this Amendment, each
of the Debtor, AFC II, AFC and the Collection Agent hereby represents and
warrants (each as to itself) as of the Closing Date (as hereinafter defined)
that:

       (a) It has the power, authority and legal right to make and deliver this
Amendment and to perform its obligations under the Security Agreement and the
Note Purchase Agreement, as amended by this Amendment, as applicable, without
any notice, consent, approval or authorization not already obtained, and it has
taken all necessary action to authorize the same.

       (b) The making and delivery of this Amendment and the performance of the
Security Agreement and the Note Purchase Agreement, as amended by this
Amendment, do not violate any provision of law or any regulation, or its charter
or by-laws, or result in the breach of or constitute a default under or require
any consent under any indenture or other agreement or instrument to which it is
a party or by which it or any of its properties may be bound or affected. Each
of the Security Agreement and the Note Purchase Agreement, as amended by this
Amendment, as applicable, constitutes its legal, valid and binding obligation,
enforceable against it in accordance with its terms, except as the
enforceability thereof may be limited by any applicable bankruptcy,
reorganization, insolvency, moratorium or other laws affecting creditors' rights
generally.

       (c) The representations and warranties made by it contained in each
Transaction Document are true and correct in all material respects on and as of
the date of this Amendment and after giving effect hereto, except for those
representations and warranties that address matters only as of a particular
prior date.

       (d) No Termination Event or Potential Termination Event has occurred and
is continuing under the Security Agreement on and as of the date of this
Amendment and after giving effect to hereto.

       4. Conditions Precedent. This Amendment shall become effective, as of the
          --------------------
date hereof, on the date (the "Closing Date") on which the following conditions
                               ------------
precedent shall have been fulfilled, which Closing Date shall be confirmed in
writing by the Agent upon request:

       (a) This Amendment. The Agent shall have received counterparts of this
           --------------
Amendment, duly executed and delivered by each of the parties hereto.

       (b) Additional Documents. The Agent shall have received all additional
           --------------------
approvals, legal opinions, documents, instruments and items of information as
the
<PAGE>

Agent may reasonably request and all of the foregoing shall be in form and
substance reasonably satisfactory to the Agent.

       (c) Legal Matters. All instruments and legal and corporate proceedings in
           -------------
connection with the transactions contemplated by this Amendment shall be
reasonably satisfactory in form and substance to the Agent and its counsel.

       5. Reference to and Effect on the Transaction Documents. (a) On and after
          ----------------------------------------------------
the Closing Date: (i) each reference in the Security Agreement to "this
Agreement," "hereunder," "hereof" or words of like import, and each reference in
the Note, Note Purchase Agreement or any other Transaction Document to "the
Security Agreement," "thereunder," "thereof" or words of like import referring
to the Security Agreement, shall mean and be a reference to the Security
Agreement as amended hereby and (ii) each reference in the Note Purchase
Agreement to "this Agreement," "hereunder," "hereof" or words of like import,
and each reference in the Note, the Security Agreement or any other Transaction
Document to "the Note Purchase Agreement," "thereunder," "thereof" or words of
like import referring to the Note Purchase Agreement, shall mean and be a
reference to the Note Purchase Agreement as amended hereby.

       6. Except as specifically amended hereby, each Transaction Document shall
continue to be in full force and effect and is hereby in all respects ratified
and confirmed.

       (a) The execution, delivery and effectiveness of this Amendment shall
not, except as expressly provided herein, operate as a waiver of any right,
power or remedy of the Company, any Bank Investor, the Collateral Agent or the
Agent under any Transaction Document, nor constitute a waiver of any provision
of any Transaction Document.

       7. Counterparts. This Amendment may be signed in any number of
          ------------
counterparts, each of which shall be an original and all of which taken together
shall constitute a single instrument with the same effect as if the signatures
thereto and hereto were upon the same instrument.

       8. Governing Law. This Amendment shall be governed by and construed in
          -------------
accordance with the laws of the State of New York without regard to the conflict
of law principles thereof.

                                      -3-

<PAGE>

       IN WITNESS WHEREOF, the parties have caused this Amendment to be duly
executed and delivered by their proper and duly authorized officers as of the
day and year first above written.

                                             KITTY HAWK FUNDING CORPORATION,
                                              as Company

                                             By:
                                                --------------------------------
                                               Name:
                                               Title:

                                             AMERICREDIT BOA TRUST, as Debtor

                                              By: Bankers Trust (Delaware), not
                                              in its individual capacity but
                                              solely as Trustee

                                                   By:
                                                      -------------------------
                                                     Name:
                                                     Title:

                                             AMERICREDIT FINANCIAL SERVICES,
                                              INC., individually and as
                                              Collection Agent

                                             By:
                                                --------------------------------
                                               Name:
                                               Title:

                                             AMERICREDIT FUNDING CORP. II,
                                              individually

                                             By:
                                                --------------------------------
                                               Name:
                                               Title:

                                             BANK OF AMERICA, N.A.,
                                              as Collateral Agent, Agent,
                                              Administrative Agent
                                              and Bank Investor

                                             By:
                                                --------------------------------
                                               Name:

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