Deal Information 1. Distribution Summary 2. Factor Summary Deal: Asset Type: Consumer Retail 3. Interest Summary 4. Collections and Distributions 5. Collateral Summary 6. Charge-Off and Delinquency Rates Initial Closing Date: 9/3/2014 Bloomberg Ticker: AFIN 2014-3 Collection Period, Begin: 11/1/2014 Collection Period, End: 11/30/2014 Determination Date: 12/15/2014 Distribution Date: 12/22/2014 7. Credit Instruments Revolving/Amortization Period Revolving 8. Accumulation Account ABS Investor Relations - Ally Financial Inc. as Servicer: 9. performance Tests Telephone: (866) 710-4623 10. Appendix: Additional Charge-Off Detail E-Mail: securitization@ally.com The Class B Notes, the Class C Notes and the Class E Notes have not been registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction. The Class B Notes, the Class C Notes and the Class E Notes are not transferable, other than to a qualified institutional buyer (as defined in Rule 144A) or pursuant to another exemption under the Securities Act, and subject to satisfaction of certain other provisions of the Indenture. Page 1 of 8
1. Distribution Summary Class CUSIP Initial Note Beginning Note Note Rate Principal Principal Balance Principal Balance Distribution Interest Distribution Total Distribution (3) + (4) = (5) Principal Carryover Shortfall Interest Carryover Shortfall Ending Note Principal Balance (1) - (3) - (6) = (8) (1) (2) (3) (4) (5) (6) (7) (8) A-1 13975JAA0 255,000,00 255,000,00 0.47500000 A-2 13975JAB8 166,000,00 166,000,00 1.18000000 A-3 13975JAC6 166,000,00 166,000,00 1.48000000 A-4 13975JAD4 56,400,00 56,400,00 1.83000000 B 13975JAE2 38,200,00 38,200,00 2.35000000 C 13975JAF9 36,190,00 36,190,00 2.71000000 D 13975JAG7 32,170,00 32,170,00 3.14000000 107,666.67 107,666.67 255,000,00 163,233.33 163,233.33 166,000,00 204,733.33 204,733.33 166,000,00 86,01 86,01 56,400,00 74,808.33 74,808.33 38,200,00 81,729.08 81,729.08 36,190,00 84,178.17 84,178.17 32,170,00 E 28,150,00 28,150,00 3.94000000 92,425.83 92,425.83 28,150,00 Deal Totals 778,110,00 778,110,00 894,784.74 894,784.74 778,110,00 Page 2 of 8
2. Factor Summary (Amount per $1,000 of Original Principal) Class Beginning Note Pool Factor Principal Distribution Factor Interest Distribution Factor Total Distribution Factor Interest Carryover Shortfall Factor Ending Note Pool Factor A-1 1,00000000 000000 0.42222224 0.42222224 000000 1,00000000 A-2 1,00000000 000000 0.98333331 0.98333331 000000 1,00000000 A-3 1,00000000 000000 1.23333331 1.23333331 000000 1,00000000 A-4 1,00000000 000000 1.52500000 1.52500000 000000 1,00000000 B 1,00000000 000000 1.95833325 1.95833325 000000 1,00000000 C 1,00000000 000000 2.25833324 2.25833324 000000 1,00000000 D 1,00000000 000000 2.61666677 2.61666677 000000 1,00000000 E 1,00000000 000000 3.28333321 3.28333321 000000 1,00000000 Beginning Aggregate Note Pool Factor: 1,00000000 Ending Aggregate Note Pool Factor: 1,00000000 Beginning Reserve Account Balance Factor: 1,00000000 Reserve Account Draw, distributed to Noteholders, Factor: 000000 Reserve Account Draw, distributed to Certificateholders, Factor: 000000 Ending Reserve Account Balance Factor: 1,00000000 Page 3 of 8
3. Interest Summary A. Target Interest Summary Class Beginning Note Principal Balance Interest Accrual Period, Start Statement to Securityholder Interest Accrual Period, End Accrual Methodology Applicable Index Margin Fixed Note Rate Target Interest Distribution A-1 255,000,00 11/20/2014 12/21/2014 Actual/360 0.15500000 0.32000000 N/A 0.47500000 107,666.67 A-2 166,000,00 11/20/2014 12/21/2014 30/360 N/A N/A 1.18000000 1.18000000 163,233.33 A-3 166,000,00 11/20/2014 12/21/2014 30/360 A-4 56,400,00 11/20/2014 12/21/2014 30/360 N/A N/A 1.48000000 1.48000000 N/A N/A 1.83000000 1.83000000 204,733.33 86,01 B 38,200,00 11/20/2014 12/21/2014 30/360 N/A N/A 2.35000000 2.35000000 74,808.33 C 36,190,00 11/20/2014 12/21/2014 30/360 N/A N/A 2.71000000 2.71000000 81,729.08 D 32,170,00 11/20/2014 12/21/2014 30/360 N/A N/A 3.14000000 3.14000000 84,178.17 E 28,150,00 11/20/2014 12/21/2014 30/360 N/A N/A 3.94000000 3.94000000 92,425.83 B. Interest Payment Amount Summary Class Beginning Unpaid Interest Carryover Shortfall Target Interest Distribution Interest Shortfall Amount Allocated/(Repaid) Actual Interest Distribution Remaining Unpaid Interest Carryover Shortfall (2) - (3) = (4) (1) (2) (3) (4) (1) - (3) = (5) (5) A-1 107,666.67 107,666.67 A-2 163,233.33 163,233.33 A-3 204,733.33 204,733.33 A-4 86,01 86,01 B 74,808.33 74,808.33 C 81,729.08 81,729.08 D 84,178.17 84,178.17 E 92,425.83 92,425.83 Deal Totals 894,784.74 894,784.74 Page 4 of 8
4. Collections and Distributions Collections Receipts During the Period*** 30,413,362.04 Administrative Purchase Payments 55,573.98 Warranty Payments Liquidation Proceeds (Recoveries) Less Liquidation Expenses 500,871.61 Accumulation Account Investment Earnings Other Fees or Expenses Paid Total Collections 30,969,807.63 Beginning Reserve Account Balance 4,021,271.12 Total Available Amount 34,991,078.75 Distributions Total Available Amount 34,991,078.75 Basic Servicing Fee 837,758.41 Aggregate Class A Interest Distributable Amount 561,643.33 First Priority Principal Distributable Amount* Aggregate Class B Interest Distributable Amount 74,808.33 Second Priority Principal Distributable Amount* Aggregate Class C Interest Distributable Amount 81,729.08 Third Priority Principal Distributable Amount* Aggregate Class D Interest Distributable Amount 84,178.17 Fourth Priority Principal Distributable Amount* Aggregate Class E Interest Distributable Amount 92,425.83 Fifth Priority Principal Distributable Amount* To the Accumulation Account - Parity Reinvestment Amount** To Reserve Account - Specified Reserve Account Balance 4,021,271.12 To the Accumulation Account - Excess of Target Reinvestment less Parity Reinvestment Account** 25,909,430.15 Noteholders' Regular Principal Distributable Amount* Indenture Trustee expenses Excess Total Available Amount to the Certificateholders 3,327,834.33 Supplemental Servicing Fees Other Fees or Expenses Accrued *Amortization Period Only **Revolving Period Only *** Includes amounts on deposit in the Accumulation Account immediately preceding the Distribution Date. 62,381.85 Liquidation Expenses 12,00 Page 5 of 8
5. Collateral Summary A. Balances Original Balance* Includes Aggregate Additional Receivables Beginning Balance Balance at End of Collection Period Additions Number of Receivables 49,954 47,669 46,862 1,586 Ending Balance Including Additions 48,448 Deal Totals Aggregate Receivables Principal Balance 885,879,533.16 804,248,076.61 778,338,832.15 25,909,188.25 804,248,020.40 Aggregate Receivables Face Amount 885,879,533.16 804,248,076.61 778,338,832.15 25,909,188.25 804,248,020.40 There have been no receivables with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred. B. Pool Composition - s Inception Coupon Beginning Coupon Ending Coupon Inception Original Beginning Original Ending Original Inception Remaining Beginning Remaining Ending Remaining Deal Totals 7.87000000 7.90204678 7.91390266 67.13 67.16 67.19 54.11 51.64 50.92 C. Pool Composition - Prepayments Month 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Monthly N/A N/A N/A N/A Month 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Monthly Month 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 Monthly Page 6 of 8
6. Charge-Off and Delinquency Rates A. Current Charge-Off Rate Delinquency Rate Receivables Credit Repurchases Loss Rate Total Accounts Accounts over 60 Percent Delinquent Current 791,293,454.38 347,581.96 0.5271% 46,862 211 0.4503% Preceding 790,149,710.10 212,511.40 0.3227% 46,005 135 0.2934% Next Preceding 790,248,958.79 34,149.77 0.0519% 45,145 74 0.1639% Three Month 0.3006% 0.3025% B. Cumulative Aggregate Amount Financed** Cumulative Net Charge-Offs Cumulative Loss Rate** Delinquency Stratification Total Accounts Total Balance Totals 885,879,533.16 594,243.13 0.0671% 31-60 days 1,093 19,934,681.01 The information contained in this report is defined or determined in a manner consistent with the prospectus for related to delinquencies, charge-offs or uncollectible accounts. There have been no material changes in determining delinquencies, charge-offs or uncollectible amounts. ** Note: The value disclosed with respect to the Aggregate Amount Financed and Cumulative Loss Rate include Additional Receivables. Please see Section 10 (Additional Charge-off Detail) for charge-off information disclosed separately with respect to the Initial Receivables and the Aggregate Additional Receivables. 1. Prior Period Bankruptcies reflect currently active accounts. 2. Bankruptcy Inventory Charged-Off includes both bankruptcies returned to active status and charge-offs on prior period bankruptcies. 61-90 days 189 3,561,788.11 > 90 days 22 448,056.00 Bankruptcies Total Accounts Total Balance Prior Period 1 127 1,934,991.10 Current Period 60 1,087,441.44 Inventory Charged-Off 2 8 50,827.38 Ending Inventory 179 2,971,605.16 7. Credit Instruments Reserve Accounts Account Initial Balance Beginning Balance Cash Reserve 4,021,271.12 4,021,271.12 8. Accumulation Account Additions Reductions Ending Balance Draws Beginning Balance Investment Earnings Deposits Releases Ending Balance Releases Specified Reserve Account Balance 4,021,271.12 4,021,271.12 185.69 25,909,244.46 25,909,188.25 241.90 Page 7 of 8
9. Performance Tests Event of Default Servicer Default Early Amortization Event Additional Receivables Purchased by Trust? Additional Receivables Criteria Satisfied, If Applicable? Overcollateralization Target Amount Satisfied? Initial Overcollateralization 26,144,224.75 Current Overcollateralization 26,138,262.30 Overcollateralization Target (Revolving Period) 26,138,262.30 Overcollateralization Target (Amortization Period) There have been no material modifications, extensions or waivers relating to the terms of or fees, penalties or payments on, pool assets during the distribution period or that, cumulatively, have become material over time. This Servicer Certificate relates only to CARAT 2014-3. This Servicer Certificate should not be relied upon with respect to any other security. The information contained herein is only anindication of past performance and does not predict how CARAT 2014-3 will perform in the future. NO NO NO YES YES YES 10. Appendix: Additional Charge-Off Detail A. Cumulative: Initial Receivables Aggregate Amount Financed Totals 804,254,224.75 Cumulative Net Charge-Offs Cumulative Loss Rate 583,354.55 0.0725% B. Cumulative: Aggregate Additional Receivables Aggregate Amount Financed Cumulative Net Charge-Offs Cumulative Loss Rate Totals: 81,625,308.41 10,888.58 0.0133% Page 8 of 8