Document:

<PAGE>

                                                                   Exhibit 10.77

                               AMENDMENT NO. 4 TO
                          SALE AND SERVICING AGREEMENT

             AMENDMENT NO. 4 (this "Amendment"), dated as of September 27, 2002,
to the SALE AND SERVICING AGREEMENT, dated as of September 14, 2000, by and
among AMERICREDIT MANHATTAN TRUST, a Delaware business trust (the "Borrower"),
AMERICREDIT FINANCIAL SERVICES, INC., a Delaware corporation ("AFS"), as a
seller and as servicer (in such capacities, the "Primary Seller" and the
"Servicer", respectively), AMERICREDIT FUNDING CORP. V, a Delaware corporation,
as a seller (the "Secondary Seller," and, together with the Primary Seller, the
"Sellers," and each, a "Seller"), and JPMORGAN CHASE BANK, a New York banking
corporation ("Chase"), as backup servicer and as administrative agent (in such
capacities, the "Backup Servicer" and the "Administrative Agent," respectively).

                              W I T N E S S E T H :

             WHEREAS, the Borrower, the Sellers, the Servicer, the Backup
Servicer and the Administrative Agent have entered into a Sale and Servicing
Agreement, dated as of September 14, 2000, as amended by Amendment No. 1 thereto
dated as of March 30, 2001, Amendment No. 2 thereto dated as of April 27, 2001
and Amendment No. 3 thereto dated as of September 28, 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 27, 2002.

<PAGE>

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

         (a) Annex A to the Agreement shall be amended in clause (iv) of the
definition of "Commitment Expiry Date" by deleting the reference to "September
27, 2002" and by inserting in its place "September 26, 2003".

         (b) Annex A to the Agreement shall be amended by deleting the
definition of "Excess Spread Deficiency" in its entirety.

         (c) Annex A to the Agreement shall be amended by deleting the
definitions of "Determination Date", "Distribution Date", "Excess Spread",
"Financed Vehicle", "Managed Assets", "Net Losses" and "PARCO Facility Limit"
and by replacing them with the following definitions:

                        "Determination Date" means, with respect to any
         Collection Period, the second (2nd) Business Day preceding the
         related Distribution Date.

                        "Distribution Date" means, with respect to each
         Collection Period and commencing with the September 2002 Collection
         Period, the fifteenth (15/th/) day of the calendar month immediately
         following such Collection Period (or, if such day is not a Business
         Day, the immediately following Business Day).

                        "Excess Spread" means, with respect to the Pool Balance
         as it relates to Receivables, (i) the product of the Weighted Average
         Coupon thereof and the Performing Loan Factor minus (ii) the sum of (x)
         Weighted Average Hedge Strike Price, (y) 2.00% (representing the fees
         of the Servicer and other transaction fees and expenses) and (z) the
         Funded Spread. Excess Spread shall be calculated as of the close of
         business on the Accounting Date for purposes of the Servicer's
         Determination Date Certificate and as of the close of the previous
         Business Day for any Servicer's Receivables Sale Date Certificate. For
         purposes of the calculation of Excess Spread to be reflected in any
         Servicer's Receivables Sale Date Certificate, "Receivables constituting
         the Pool Balance" shall be deemed to include the Receivables to be sold
         on the related Receivables Sale Date.

                                        2

<PAGE>

                        "Financed Vehicle" means, in respect of receivables in
         the Managed Assets, an automobile or light-duty truck, van or minivan,
         together with all accessions thereto, securing an Obligor's
         indebtedness under the respective receivable.

                        "Managed Assets" means, as of any date of determination,
         all receivables (whether or not thereafter sold or disposed of) that
         are serviced by the Servicer and any of its Affiliates as of such date,
         calculated in a manner consistent with the components of "managed
         receivables" in the most recent reports on Form 10-K or Form 10-Q filed
         by AmeriCredit Corp. with the Securities and Exchange Commission.

                        "Net Losses" means, with respect to a Collection Period,
         the aggregate Principal Balance of Managed Assets that became charged
         off (without regard to the application of any dealer discount) during
         such period, less the aggregate amount of recoveries on Managed Assets
         during such Period.

                        "PARCO Facility Limit" shall mean $250,000,000.

         (d) Annex A to the Agreement shall be amended in clause (iv) of the
definition of "Pool Limitations" by inserting the words "or equal to" after the
words "less than" therein.

         (e) Annex A to the Agreement shall be amended in the definition of
 "Notice Address" by deleting clause (iv) in its entirety and by replacing it
 with the following:

         (iv)  JPMorgan Chase Bank, as Administrative Agent
               450 West 33/rd/ Street, 15/th/ Floor
               New York, New York 10001
               Attention: Conduit Administration
               Telephone No.:  (212) 946-3910
               Telecopier No.: (212) 946-8098
               E-Mail: cpadmin@chase.com

         (f) Annex A to the Agreement shall be amended by inserting the
following definitions in alphabetical order:

                                        3

<PAGE>

                "Charge-Offs" means, with respect to any Collection Period, with
         respect to the receivables in any Receivables Pool or the Managed
         Assets, the aggregate principal balances of all such receivables (i) as
         to which 5% or more of a scheduled receivable payment shall have become
         120 or more days delinquent (excluding receivables for which the
         Financed Vehicle has been repossessed and receivables for which the
         Obligor is bankrupt), or (ii) that the Servicer has charged-off (or in
         respect of which the Servicer has otherwise determined in good faith
         that payments relating thereto are not likely to be resumed).

                "Credit Enhancement Rate" means, on any date of determination,
         the percentage obtained by comparing Excess Spread with respect to the
         Pool Balance and the weighted average Credit Score for the Pool Balance
         by reference to the following table (as increased from time to time as
         provided in the following proviso):

<TABLE>
<CAPTION>
                                                                     Credit Score
--------------------------------------------------------------------------------------------------------------
                 Excess Spread                   220-224      225-229      230-234       235-239        240+
--------------------------------------------------------------------------------------------------------------
   <S>           <C>                             <C>          <C>          <C>           <C>            <C>
   Credit        ** 9.0%                          16.00%       13.00%        10.00%        7.00%        5.50%

   Enhancement   ** 8.5% and * or = 9.0%          18.50%       13.50%        10.50%        7.50%        5.50%

   Rate          ** 8.0% and * or = 8.5%          18.50%       14.00%        11.40%        8.50%        5.50%

                 ** 7.5% and * or = 8.0%          18.50%       15.00%        12.20%        9.00%        6.50%

                 ** 7.0% and * or = 7.5%          19.00%       16.00%        13.00%        9.50%        7.00%

                 ** 6.5% and * or = 7.0%          19.50%       16.75%        14.00%       10.00%        7.50%

                 ** 6.0% and * or = 6.5%          20.00%       17.50%        15.00%       10.50%        8.00%

                 ** 5.5% and * or = 6.0%          20.50%       18.25%        16.00%       11.50%        9.00%
--------------------------------------------------------------------------------------------------------------
</TABLE>

*  less than
** greater than

         provided that (i) the percentage obtained above shall be increased by
         3% if the average of the Receivables Pool Servicer Delinquency Ratios
         for the preceding three Collection Periods at such time is greater than
         the percentage obtained by reference to the table below, (ii) the
         percentage obtained above shall be increased by 6% 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 on Exhibit B
         to the Security and Funding Agreement (and the Required Lending Groups
         have not waived such event); and (iii) the percentage obtained

                                        4

<PAGE>

above shall be increased by 2% if a Trigger Event occurs (provided that the
Advance Percentage shall remain at such reduced percentage until such time as
the related Trigger Event has been cured for a period of three (3) consecutive
months).

         Seasoning                  Receivables Pool
         (In Months)                Servicer Delinquency Ratio

           1-12                             4.0%
          13-24                             5.0%

                  "Interest Expense" means, with respect to AmeriCredit Corp. on
a consolidated basis and for any period, AmeriCredit Corp.'s interest expense
during such period for money borrowed (exclusive of any such interest expense on
any "off-balance sheet" securitizations or "off-balance sheet" warehouse
facilities), calculated in accordance with GAAP.

                  "Net Loss Ratio" means, as of any Determination Date, the
 ratio obtained by reference to the following formula:

                                    (A/B) x C

 where:

 A = the aggregate amount of Net Losses for the Managed Assets that have
 occurred during the six (6) Collection Periods immediately preceding such
 Determination Date divided by the average aggregate Principal Balance of the
 Managed Assets during such six-month period;

 B = the actual number of calendar days in such six-month period; and

 C = the actual number of days in AFS's fiscal year in which the most recently
 ended Collection Period occurred.

                  "Performing Loan Factor" means, as of the last day of any
 Collection Period, 100% minus the percentage equivalent of a fraction, the
 numerator of which is the aggregate principal balance on

                                       5

<PAGE>

                such date of each receivable in the Managed Assets with respect
                to which 5% or more of any scheduled payment is more than 60
                days past due (including a receivable for which the related
                Financed Vehicle has been repossessed and the proceeds thereof
                have not be realized by the Servicer), and the denominator of
                which is the aggregate principal balance of all receivables in
                the Managed Assets on the last day of such Collection Period.

                              "Receivables Pool" means, with respect to any date
                of determination, each receivables pool supporting an
                asset-backed securitization sponsored by AFS that became
                effective on or after the date that is two years prior to such
                date of determination (excluding any receivables held as part of
                any warehouse arrangement).

                              "Receivables Pool Servicer Delinquency Ratio"
                means, as of the last day of a Collection Period, for any
                Receivables Pool, the ratio, expressed as a percentage, computed
                by dividing (i) the aggregate principal balance on such date of
                each receivable in such Receivables Pool with respect to which
                more than 5% of a scheduled payment is more than 60 days past
                due (excluding a receivable for which the financed vehicle has
                been repossessed and the proceeds thereof have not been realized
                by the Servicer) by (ii) the aggregate principal balance of all
                receivables in such Receivables Pool on the first day of such
                Collection Period.

                              "Trigger Event" means, with respect to any Funding
                Date, either (i) the occurrence, with respect to asset-backed
                securities issued within the three year period ending on such
                Funding Date, which are backed by automobile installment sales
                contracts (("receivables") (other than asset-backed securities
                which are backed, except for an insubstantial portion, by
                automobile installment sales contracts with respect to which the
                Obligors thereunder, at the time of origination of such sales
                contracts, were residents of Canada; such securities, "Canadian
                Securities") and with respect to which AmeriCredit Corp. or any
                Affiliate of AmeriCredit Corp. is the servicer, of an "event of
                default" or similar event under any applicable enhancement or
                insurance agreement or an "amortization event", "pay-out event"
                or similar event under any applicable sale and servicing
                agreement or indenture, which event has the potential
                consequence, inter alia, under the related agreements of
                requiring the acceleration or early amortization of the

                                        6

<PAGE>

                related securities or permitting the realization upon the
                receivables and/or other collateral; or (ii) the occurrence of a
                "trigger event", "spread capture event" or any other analogous
                event however denominated, with respect to asset-backed
                securities issued within the three year period ending on such
                Funding Date (other than Canadian Securities) which relate to
                receivables (as defined in clause (i)) and with respect to which
                AmeriCredit Corp. or any Affiliate of AmeriCredit Corp. is the
                servicer, which event is based on the performance of such
                receivables and has the potential consequence under the related
                agreements of causing the amount required to be retained in any
                related spread or reserve account or the level of any other
                enhancement to be increased.

                (g) Annex A to the Agreement shall be amended in clauses 1 and 2
          of the definition of "Portfolio Performance Trigger" by deleting such
          clauses in their entirety and by replacing them with the following:

                1. Either (i) for the period from and including each April to
                and including each September, the average aggregate Principal
                Balance of Managed Assets with respect to which 5% or more of
                any scheduled payment is more than 60 days past due (including a
                Managed Asset secured by a repossessed motor vehicle) for the
                preceding three calendar months exceeds 5.5% of the aggregate
                Principal Balance of Managed Assets for the preceding three
                calendar months or (ii) for the period from and including each
                October to and including each March, the average aggregate
                Principal Balance of Managed Assets with respect to which 5% or
                more of any scheduled payment is more than 60 days past due
                (including a Managed Asset secured by a repossessed motor
                vehicle) for the preceding three calendar months exceeds 6.5% of
                the aggregate Principal Balance of Managed Assets for the
                preceding three calendar months.

                2. the Net Loss Ratio exceeds 8%.

                (h) Annex A to the Agreement shall be amended in clause (i) of
          the definition of "Termination Event" by deleting such clause in its
          entirety and by replacing it with the following:

                       (i) The Tangible Net Worth of AmeriCredit Corp. shall be
                less than the sum of (a) $1,000,000,000 and (b) 75% of the
                cumulative

                                        7

<PAGE>

         positive net income (without deduction for negative net income) of
         AmeriCredit Corp. for each fiscal quarter having been completed since
         March 31, 2002, as reported in each annual report on Form 10-K and
         periodic report on Form 10-Q filed by AmeriCredit Corp. with the
         Securities and Exchange Commission.

         (i) Annex A to the Agreement shall be amended by deleting the following
definitions in their entirety: "Eiffel", "Eiffel Alternate Base Rate", "Eiffel
Eurodollar Rate", "Eiffel Facility Limit", "Eiffel Funding Agent", "Eiffel
LIBOR", "Eiffel Liquidity Asset Purchase Agreement", "Eiffel Liquidity Banks",
"Eiffel Prime Rate" and "Eiffel Wind-Down Event". All other references in Annex
A to "Eiffel" and "Eiffel Funding, LLC", and to defined terms related to
"Eiffel", shall be of no further force and effect, and all defined terms
containing such references shall be construed for all purposes as if such
references did not exist.

               (j) Annex A to the Agreement shall be amended by deleting the
following definitions in their entirety: "Gotham", "Gotham Alternate Base Rate",
"Gotham Eurodollar Rate", "Gotham Facility Limit", "Gotham APA Bank", "Gotham
Funding Agent", "Gotham LIBOR", "Gotham Asset Purchase Agreement", "Gotham
Liquidity Agreement", "Gotham Liquidity Facility, "Gotham Liquidity Banks",
"Gotham Prime Rate" and "Gotham Wind-Down Event". All other references in Annex
A to "Gotham" and "Gotham Funding Corporation", and to defined terms related to
"Gotham", shall be of no further force and effect, and all defined terms
containing such references shall be construed for all purposes as if such
references did not exist.

               (k) Annex A to the Agreement shall be amended by deleting the
following definitions in their entirety: "HLS", "HLS Alternate Base Rate", "HLS
Eurodollar Rate", "HLS Facility Limit", "HLS Liquidity Loan Agreement", "HLS
Funding Agent", "HLS LIBOR", "HLS Liquidity Banks", "HLS Prime Rate" and "HLS
Wind-Down Event". All other references in Annex A to "HLS" and "Holland Limited
Securitization, Inc.", and to defined terms related to "HLS", shall be of no
further force and effect, and all defined terms containing such references shall
be construed for all purposes as if such references did not exist.

               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.

                                        8

<PAGE>

                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. 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.

                                        9

<PAGE>

       IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 4
to the Sale and Servicing Agreement to be executed as of the date and year first
above written.

                                        AMERICREDIT MANHATTAN TRUST,
                                         as Borrower

                                        By: Bankers Trust (Delaware), solely as
                                        Trustee of the AmeriCredit Manhattan
                                        Trust

                                        By: /s/
                                           -------------------------------------
                                           Name:
                                           Title:

                                        AMERICREDIT FUNDING CORP. V, as
                                         Seller

                                        By: /s/
                                           -------------------------------------
                                           Name:
                                           Title:

                                        AMERICREDIT FINANCIAL SERVICES,
                                         INC., as Servicer and Primary Seller

                                        By: /s/
                                           -------------------------------------
                                           Name:
                                           Title:

                                        JPMORGAN CHASE BANK, not
                                         in its individual capacity, but solely
                                         as Backup Servicer

                                        By: /s/
                                           -------------------------------------
                                           Name:
                                           Title:

                                       10

<PAGE>

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

                                        By: /s/
                                           -------------------------------------
                                           Name:
                                           Title:

                                       11<PAGE>

                                                                   Exhibit 10.78

                               AMENDMENT NO. 2 TO
                           SECOND AMENDED AND RESTATED
                         SECURITY AND FUNDING AGREEMENT

         AMENDMENT NO. 2 (this "Amendment"), dated as of September 27, 2002, 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"), JPMORGAN CHASE 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 the first day on which (i) the Administrative Agent shall have
received executed counterparts to this Amendment, (ii) the accrued fees and
expenses of counsel to the Administrative Agent and the Secured Parties shall
have been paid in full and (iii) the Secured Parties shall have received an
opinion of counsel to the Borrower regarding the enforceability of the Agreement
and the Sale and Servicing Agreement under New York law.

<PAGE>

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

     (a) Section 7.1 of the Agreement shall be amended by inserting the
following subsection at the end thereof:

               (i) Reaffirmation of VFN Ratings. If, at any time, any other
     asset-backed securitization sponsored by AFS is the subject of (i) a
     downgrade or withdrawal of any rating assigned by any nationally recognized
     statistical rating agency to such securitization or (ii) a requirement by
     any such rating agency that such securitization requires additional credit
     enhancement in order for the then-current rating assigned by such rating
     agency to be maintained, then, in such event, the Borrower shall be
     required to notify the Administrative Agent of any such event within one
     (1) Business Day following the occurance of such event, and the Borrower
     shall obtain a reconfirmation of the ratings assigned by any Rating Agency
     to the VFN within twenty (20) days following notice from the Administrative
     Agent.

     (b) Section 7.1(b) shall be amended by inserting the following at the end
of the first sentence thereof:

     ,(xiii) no Event of Default (as therein defined) under any public asset
     backed transaction of AmeriCredit Corp. or any of its direct or indirect
     subsidiaries shall have occurred and be continuing, (xiv) AmeriCredit Corp.
     shall have received proceeds of an offering of equity in an amount no less
     than $150,000,000 and (xv) the Borrower (and/or the Servicer on its behalf)
     shall have provided to the Administrative Agent such financial information
     and projections concerning AmeriCredit Corp., its Affiliates, the
     Receivables and other financial matters as the Administrative Agent may
     request.

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

               (c) Advance Percentage. With respect to any Funding Date, the
     advance percentage (the "Advance Percentage") to determine the Advance
     Amount shall be (i) with respect to Asset Backed Securities, 100%, subject
     to the reserve requirement to be established at or prior to the initial
     funding under the ABS Funding Sublimit, as accept-

                                        2

<PAGE>

     able to each Lending Group and the Primary Seller, and (ii) with respect to
     Receivables, shall be 100% minus the Credit Enhancement Rate at such time.

     (d) Section 7.1(f) of the Agreement shall be amended by inserting the
following provision at the end thereof:

              (iv) Notwithstanding anything to the contrary in this Agreement,
     the Borrower shall have the ability, upon five (5) Business Days' notice,
     to reduce the Aggregate Net Investment and the Aggregate Commitment to zero
     by remitting to the Administrative Agent, for the benefit of the Secured
     Parties, an amount equal to the sum of the VFN Balance, all accrued and
     unpaid Carrying Costs to the date of reduction, and any other amounts due
     and owing to the Administrative Agent and the Secured Parties under this
     Agreement and the other Basic Agreements.

     (e) Section 7.1 of the Agreement shall be amended by inserting the
following provision at the end thereof:

              (i) Other Information. In the event the long-term senior unsecured
     debt rating of AmeriCredit Corp. shall fall below B+ by S&P or Ba2 by
     Moody's (or either such rating shall have been withdrawn), then, no later
     than the thirtieth (30/th/) day following the occurrence of such event, the
     Borrower (or the Servicer on its behalf) shall supply the data specified in
     Section 5.13 of the Sale and Servicing Agreement, together with any other
     information requested by the Administrative Agent.

     (f) On and after the Effective Date, all references in the Agreement and
the other Basic Agreements to "HLS", "Gotham", "Eiffel", "Holland Limited
Securitization, Inc.", "Gotham Funding Corporation", "Eiffel Funding, LLC", and
to defined terms related to "HLS", "Gotham" and "Eiffel", shall be of no further
force and effect, and all provisions in the Agreement containing such references
shall be construed for all purposes as if such references did not exist.

          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

                                        3

<PAGE>

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. 4, dated as of September 27, 2002,
to the Sale and Servicing Agreement, dated as of September 14, 2000 (as amended,
the "Sale and Servicing Agreement"), 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.

                                        4

<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: /s/
                                     ------------------------------------
                                     Name:
                                     Title:

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

                                  By: /s/
                                     ------------------------------------
                                     Name:
                                     Title:

                                  JPMORGAN CHASE BANK,
                                   as PARCO Funding Agent

                                  By: /s/
                                     ------------------------------------
                                     Name:
                                     Title:

                                  PARK AVENUE RECEIVABLES
                                   CORPORATION,
                                   as a Secured Party

                                  By: /s/
                                     ------------------------------------
                                     Name:
                                     Title:

                                        5

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