Document:

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                                                                    EXHIBIT 10.4

                                                                  EXECUTION COPY

                      AMENDMENT NO. 1 TO THE LOAN AGREEMENT

     AMENDMENT NO. 1 TO THE LOAN AGREEMENT made as of the 27th day of February,
2003

BETWEEN:

                     AMERICREDIT FINANCIAL SERVICES OF
                     CANADA LTD., a corporation amalgamated
                     under the laws of Canada

                     (the "Seller" and "Servicer")

                                       and

                     AMERICREDIT CANADA FUNDING TRUST I,
                     a trust established under the laws of the province of
                     Ontario by its trustee (the "Trustee"), CIBC
                     MELLON TRUST COMPANY, a trust company
                     incorporated under the laws of Canada

                     (the "Trust")

                                     - and -

                     CONGRESS FINANCIAL CORPORATION
                     (CANADA), an Ontario corporation

                     (the "Lender" and "Collateral Agent")

WHEREAS the Seller, the Servicer, the Trust, the Lender and the Collateral Agent
entered into a loan agreement dated as of April 30, 2002 (the "Loan Agreement")
pursuant to which the Lender agreed to provide funds to the Trust for the
purchase of Receivables under the Receivables Purchase Agreement;

NOW THEREFORE THIS AMENDMENT NO. 1 TO THE LOAN AGREEMENT that, in consideration
of the premises, covenants and agreements of the parties herein contained and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by each party, the parties hereby covenant and agree as
follows:

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                                       -2-

                                    ARTICLE 1
                                 INTERPRETATION

1.1  DEFINED TERMS

Capitalized terms not otherwise defined herein shall have the respective
meanings ascribed thereto in Exhibit I to the Receivables Purchase Agreement.

                                    ARTICLE 2
                         AMENDMENT TO THE LOAN AGREEMENT

2.1  AMENDMENT TO SECTION 3.1

Section 3.1 of the Loan Agreement is hereby deleted and replaced with the
following:

     "The initial term of this Agreement and the facility described herein shall
     expire on February 27, 2003 (the "Initial Commitment Expiry Date")."

                                    ARTICLE 3
                            MISCELLANEOUS PROVISIONS

3.1  MISCELLANEOUS

     (a)  Amendment No. 1 to the Loan Agreement made or effected hereby shall be
          effective as of, from and as if executed and delivered on February 24,
          2003 notwithstanding the actual day of execution and delivery of this
          Amendment No.1.

     (b)  In this amending agreement, unless there is something in the subject
          matter or context inconsistent therewith, "this agreement", "hereto",
          "hereof", "herein", "hereby", "hereunder" and similar expressions
          refer to this amending agreement and not to any particular section or
          other portion hereof.

     (c)  The Loan Agreement, as amended, and all related documents are ratified
          and confirmed in all respects and continue in full force and effect
          otherwise unamended.

     (d)  Amendment No. 1 to the Loan Agreement may be executed in counterparts,
          each of which shall constitute an original and all of which when taken
          together shall constitute one and the same instrument.

     (e)  Each party shall do, execute, acknowledge and deliver or cause to be
          done, executed, acknowledged and delivered, such further acts, deeds,
          mortgages, transfers and assurances as are reasonably required for the
          purpose of accomplishing and effecting the intention of this Amendment
          No. 1.

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                                       -3-

IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment No. 1
to the Loan Agreement to be duly executed by their respective officers as of the
day and year first above written.

                                    AMERICREDIT FINANCIAL SERVICES
                                    OF CANADA LTD., as Seller and Servicer

                                    By:
                                        ----------------------------------------
                                         Name:  Katharyn Harlow
                                         Title: Vice President, Finance

                                    AMERICREDIT CANADA FUNDING
                                    TRUST I by its Trustee CIBC MELLON
                                    TRUST COMPANY, by its Administrator
                                    AMERICREDIT FINANCIAL SERVICES
                                    OF CANADA LTD.

                                    By:
                                        ----------------------------------------
                                         Name: Katharyn Harlow
                                         Title:  Vice President, Finance

                                    CONGRESS FINANCIAL  CORPORATION
                                    (CANADA),  as Lender and Collateral Agent

                                    By:
                                        ----------------------------------------
                                         Name:
                                         Title:<PAGE>

                                                                    EXHIBIT 10.5

                                 AMENDMENT NO. 2

                          dated as of February 1, 2003

                                      among

                       AMERICREDIT MTN RECEIVABLES TRUST,

                                   as Debtor,

                      AMERICREDIT FINANCIAL SERVICES, INC.,

                          Individually and as Servicer,

                           MBIA INSURANCE CORPORATION,

                                   as Insurer

                                       and

                         MERIDIAN FUNDING COMPANY, LLC,

                                  as Purchaser

                              to SECURITY AGREEMENT

                          dated as of December 18, 2000

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          AMENDMENT NO. 2, dated as of February 1, 2003 (the "Amendment"), among
AMERICREDIT MTN RECEIVABLES TRUST (the "Debtor"), AMERICREDIT FINANCIAL
SERVICES, INC., individually and in its capacity as Servicer ("AFS"), MBIA
INSURANCE CORPORATION, as Insurer ("MBIA"), and MERIDIAN FUNDING COMPANY, LLC,
as Purchaser ("Meridian"), to the Security Agreement dated as of December 18,
2000 (the "Security Agreement"), among the Debtor, AFS, AmeriCredit MTN Corp.
and the Chase Manhattan Bank (predecessor to JPMorgan Chase Bank), as Collateral
Agent and Securities intermediary.

          WHEREAS, Section 9.2(b) of the Security Agreement permits amendment of
the Security Agreement by the Debtor, AFS, MBIA and Meridian (the "Parties")
upon the terms and conditions specified therein;

          WHEREAS, the Security Agreement has previously been amended by that
certain Amendment No. 1, dated as of December 1, 2002, among the Parties;

          WHEREAS, the Parties wish to amend the Security Agreement.

          NOW, THEREFORE, the Parties agree that the Security Agreement is
hereby amended effective as of the date hereof as follows:

          Section 1. Definitions. Each term used herein but not defined herein
shall have the meaning assigned to such term in the Security Agreement.

          Section 2. Amendment to Section 5.1 (Affirmative Covenants of the
Debtor and AmeriCredit).

          Section 5.1 is hereby amended by adding the following Clause (m):

               (m)   Public Use of "MBIA". The Debtor and AFS agree not to use
          MBIA's name in any public document including, without limitation, a
          press release or presentation, announcement or forum without MBIA's
          prior consent. In the event that either of the Debtor or AFS is
          advised by counsel that the Debtor or AFS has a legal obligation to
          disclose MBIA's name in any press release, public announcement or
          other public document, the Debtor or AFS, whichever has been so
          advised, shall provide MBIA with at least three business days prior
          written notice of its intent to use MBIA's name together with a copy
          of the proposed use of MBIA's name and of any description of a
          transaction with MBIA and shall obtain MBIA's prior consent as to the
          form and substance of the proposed use of MBIA's name and any such
          description.

          Section 3. Amendment to Section 6.1 (Termination and Amortization
Events).

          Clause (z) of Section 6.1 is deleted in its entirety and replaced with
the following:

               (z)   the ratio of AmeriCredit Corp.'s EBITDA (plus any loss
          provision minus net charge-offs and excluding in the calculation a
          one-time, non-cash impairment charge to the credit enhancement assets
          related to the present value effect of the expected delay in receiving
          cash distributions from FSA insured

                                        2

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          securitization trusts) for the financial quarter ended December 31,
          2002 to its Interest Expense for the financial quarter ended December
          31, 2002 shall be less than 1.5x. The ratio of AmeriCredit Corp.'s
          EBITDA (plus any loss provision minus net charge-offs) for the
          financial quarter ended March 31, 2003 to its Interest Expense for the
          financial quarter ended March 31, 2003 shall be less than 1.8x. The
          average of the ratios of AmeriCredit Corp.'s EBITDA to Interest
          Expense for the two most recent financial quarters ended June 30, 2003
          shall be less than 1.0x. The average of the ratios of AmeriCredit
          Corp.'s EBITDA to Interest Expense for the two most recent financial
          quarters ended September 30, 2003 or December 31, 2003 shall be less
          than 1.1x. The average of the ratios of AmeriCredit Corp.'s EBITDA to
          Interest Expense for the two most recent financial quarters ended
          March 31, 2004 and any two consecutive financial quarters thereafter
          shall be less than 1.2x; or

                   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                             SIGNATURE PAGE FOLLOWS]

                                        3

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          IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date set forth on the first page hereof.

                          AMERICREDIT MTN RECEIVABLES TRUST

                          By: DEUTSCHE BANK TRUST COMPANY
                            DELAWARE, not in its individual capacity but
                            solely as Owner Trustee on behalf of the Issuer

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

                          AMERICREDIT FINANCIAL SERVICES, INC.,
                           Individually and as Servicer,

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

                          MBIA INSURANCE CORPORATION,
                           as Insurer,

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

                          MERIDIAN FUNDING COMPANY, LLC,
                           as Purchaser

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

Signature Page for Amendment No. 2
to the Servicing Agreement dated as of December 18, 2000

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