Distribution Information Deal Information 1. Distribution Summary 2. Factor Summary Deal: Asset Type: Consumer Lease 3. Interest Summary Closing Date: 10/22/2014 4. Collections and Distributions Bloomberg Ticker: ALLYL 2014-SN2 5. Collateral Summary 6. Losses and Delinquencies 7. Credit Instruments 8. Performance Tests Monthly Period, Begin: 12/1/2014 Monthly Period, End: 12/31/2014 Determination Date: 1/15/2015 Distribution Date: 1/20/2015 ABS Investor Relations - Ally Financial Inc. as Servicer: Telephone: (866) 710-4623 E-Mail: securitization@ally.com The Class B Notes, Class C Notes, and the Secured Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction. Accordingly, the Class B Notes, Class C Notes, and the Secured Notes are not transferable other than pursuant to an exemption under the Securities Act and satisfaction of other specified provisions of the AART Indenture. Page 1 of 8
1. Distribution Summary Class CUSIP Initial Principal Balance Beginning Principal Balance Note Interest Rate Principal Distribution Interest Distribution Total Distribution (3) + (4) = (5) Principal Loss Interest Carryover Shortfall Ending Principal Balance (1) - (3) = (8) (1) (2) (3) (4) (5) (6) (7) (8) Class A-1 02006UAA1 240,000,00 151,480,435.47 25000 34,255,308.84 30,506.48 34,285,815.32 117,225,126.63 Class A-2a 02006UAB9 109,000,00 109,000,00 71000 64,491.67 64,491.67 109,000,00 Class A-2b 02006UAC7 391,000,00 391,000,00 46545 146,603.82 146,603.82 391,000,00 Class A-3 02006UAD5 275,000,00 275,000,00 0.0103000 236,041.67 236,041.67 275,000,00 Class A-4 02006UAE3 91,900,00 91,900,00 0.0121000 92,665.83 92,665.83 91,900,00 Class B BCC285OD8 74,460,00 74,460,00 0.0149000 92,454.50 92,454.50 74,460,00 Class C BCC285OE6 44,000,00 44,000,00 0.0183000 67,10 67,10 44,000,00 AART Notes 1,225,360,00 1,136,840,435.47 34,255,308.84 729,863.97 34,985,172.81 1,102,585,126.63 Secured Note 1,253,396,075.11 1,184,971,927.27 0.0183000 27,900,789.80 1,807,082.19 29,707,871.99 1,157,071,137.47 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 Class A-1 631.1684811 142.7304535 0.1271103 142.8575638 00000 488.4380276 Class A-2a 1,0000000 00000 0.5916667 0.5916667 00000 1,0000000 Class A-2b 1,0000000 00000 0.3749458 0.3749458 00000 1,0000000 Class A-3 1,0000000 00000 0.8583333 0.8583333 00000 1,0000000 Class A-4 1,0000000 00000 1.0083333 1.0083333 00000 1,0000000 Class B 1,0000000 00000 1.2416667 1.2416667 00000 1,0000000 Class C 1,0000000 00000 1.5250000 1.5250000 00000 1,0000000 Secured Note 945.4089978 22.2601541 1.4417487 23.7019028 00000 923.1488437 Page 2 of 8
Series 2014-SN2 Portfolio Aggregate ABS Value Secured Note Beginning Factor 939.5958113 949.4651093 945.4089978 Ending Factor 916.2707478 928.8588846 923.1488437 Note Pool Factor Beginning Factor 927.7603606 Ending Factor 899.8050586 3. Interest Summary Class Interest Accrual Period, Start Interest Accrual Period, End Accrual Methodology Note Interest Rate Target Interest Distribution Actual Interest Distribution Beginning Interest Carryover Shortfall Amount Interest Carryover Shortfall Amount Allocated/ (Repaid) (1) - (2) = (3) Cumulative Interest Carryover Shortfall Amount (1) (2) (3) Class A-1 12/22/2014 1/19/2015 Actual/360 25000 30,506.48 30,506.48 Class A-2a 12/22/2014 1/19/2015 30/360 71000 64,491.67 64,491.67 Class A-2b 12/22/2014 1/19/2015 Actual/360 46545 146,603.82 146,603.82 Class A-3 12/22/2014 1/19/2015 30/360 0.0103000 236,041.67 236,041.67 Class A-4 12/22/2014 1/19/2015 30/360 0.0121000 92,665.83 92,665.83 Class B 12/22/2014 1/19/2015 30/360 0.0149000 92,454.50 92,454.50 Class C 12/22/2014 1/19/2015 30/360 0.0183000 67,10 67,10 Secured Note 12/22/2014 1/19/2015 30/360 0.0183000 1,807,082.19 1,807,082.19 Page 3 of 8
4. Collections and Distributions A. ACOLT Collections Monthly Lease Payments 21,663,793.75 Pull Ahead Payments Warranty Payments Administrative Purchase Payments 364,762.60 Sale Proceeds 15,314,077.02 Monthly Payment Advances 490,386.09 Residual Advances Extended Lease Payments Optional Purchase Price Insurance Proceeds Security Deposits Other Amounts Received 87,987.79 ACOLT Collections 37,921,007.25 Reserve Fund Draw Amount Reimbursement of Monthly Payment Advances Reimbursement of Residual Advances Total ACOLT Available Distribution Amount 1,854,648.01 36,066,359.24 Distributions Total ACOLT Available Distribution Amount 36,066,359.24 Basic Servicing Fee 1,071,311.66 Secured Note Interest Distributable Amount 1,807,082.19 Secured Note Principal Distributable Amount 27,900,789.80 AART Collection Account Shortfall Amount 5,287,175.59 Reserve Account Deposit Indenture Trustee expenses Excess Total ACOLT Collection Amount to the ACOLT Certificateholder Page 4 of 8
B. AART AART Collection Account Shortfall Amount Secured Note Interest Distributable Amount Secured Note Principal Distributable Amount Warranty Payments and Administrative Purchase Payments Amounts deposited into the AART Collection Account on the Optional Purchase Date Total AART Collections/Available Amount Collections 5,287,175.59 1,807,082.19 27,900,789.80 34,995,047.58 Distributions Total AART Available Amount 34,995,047.58 Administration Fee 9,874.77 Aggregate Class A Interest Distributable Amount 570,309.47 First Priority Principal Distributable Amount Aggregate Class B Interest Distributable Amount 92,454.50 Second Priority Principal Distributable Amount Aggregate Class C Interest Distributable Amount 67,10 Third Priority Principal Distributable Amount Reserve Account Deposit Noteholders' Regular Principal Distributable Amount 34,255,308.84 Indenture Trustee Expenses Excess To Be Released to AART Certificateholders Page 5 of 8
5. Collateral Summary A. Balances Initial Beginning Ending Series 2014-SN2 Portfolio 1,512,606,364.00 1,421,238,603.72 1,385,956,964.31 Aggregate ABS Value 1,353,998,136.66 1,285,573,988.82 1,257,673,199.02 Secured Note 1,253,396,075.11 1,184,971,927.27 1,157,071,137.47 AART Notes 1,225,360,00 1,136,840,435.47 1,102,585,126.63 There have been no lease assets or secured notes with respect to which material breaches of pool asset representations or warranties or transaction covenants have occurred. B. Number of Lease Assets Initial Number of Lease Assets Beginning Number of Lease Assets Scheduled inations Early inations Not Default Early inations Default Repurchases Other Ending Number of Lease Assets Deal Totals 56,463 55,082 202 546 10 15 0 54,309 C. Pool Composition - Weighted Averages Initial Weighted Average Coupon Beginning Weighted Average Coupon Ending Weighted Average Coupon Initial Weighted Average Original Beginning Weighted Average Original Ending Weighted Average Original Initial Weighted Average Remaining Beginning Weighted Average Remaining Ending Weighted Average Remaining Deal Totals 2.8731464 2.8833000 2.8870000 36.62 36.65 36.69 25.42 23.68 22.85 D. 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 0.40% 1.05% 0.29% 0.46% 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. Losses and Delinquencies Early Defaults Returned Vehicles Sold Delinquencies Average ABS Value Net Loss (Gain) Charge-Off Ratio Aggregate ABS Value Residual Loss (Gain) Residual Loss Ratio Average ABS Value Over 60 Days Percent Delinquent Current 1,271,623,593.92 30,647.76 0.029 13,844,963.36 (1,391,060.35) (10.05) 1,271,623,593.92 598,181.90 0.047 Preceding 1,297,585,204.65 5,802.65 5 10,110,118.88 (1,156,255.32) (11.44) 1,297,585,204.65 443,949.57 0.034 Next Preceding 1,321,964,929.01 0 10,580,515.18 (1,424,784.58) (13.47) 1,321,964,929.01 369,776.16 0.028 Three Month Average 0.011 (11.65) 0.036 Aggregate ABS Value 196,688.86 13,844,963.36 Residual Advance Reimb. N/A Aggregate Sales Proceeds 165,916.10 15,148,160.92 Excess Wear/Mileage Charges 23,881.42 Other Amounts Received 125.00 63,981.37 Current Net Losses (Gains) 30,647.76 (1,391,060.35) Delinquency Stratification Amount Number of Leases Beginning Cum Net Losses (Gains) 5,802.65 (3,494,095.16) 31-60 days 3,973,376.90 180 Current Net Losses (Gains) 30,647.76 (1,391,060.35) 61-90 days 570,831.99 25 Ending Cum Net Losses (Gains) 36,450.41 (4,885,155.51) There have been no material changes related to delinquencies, charge offs or uncollectible amounts. The information contained in this reporting is defined or determined in a manner consistent with the prospectus for Ally Auto Receivables Trust 2014-SN2. > 90 days 27,349.91 1 Page 7 of 8
7. Credit Instruments Accounts and Advances Account Initial Balance Beginning Balance Additions Reductions Ending Balance Required Amount Reserve Account 6,769,990.68 6,769,990.68 6,769,990.68 6,769,990.68 Monthly Payment Advances 2,155,244.38 2,981,370.68 490,386.09 1,854,648.01 1,617,108.76 N/A Residual Advances N/A Payments Ahead 2,210,982.18 2,020,591.44 885,081.33 342,963.98 2,562,708.79 N/A 8. Performance Tests ACOLT Event of Default AART Event of Default Administrator Default Servicer Default Aggregate Overcollateralization Target reached? Initial Aggregate Overcollateralization Amount Current Aggregate Overcollateralization Amount Overcollateralization Target Amount Initial ACOLT Overcollateralization Amount Current ACOLT Overcollateralization Amount All Tests Passed All Tests Passed All Tests Passed All Tests Passed OC Target has not been Reached 128,638,136.66 155,088,072.39 169,249,767.08 100,602,061.55 100,602,061.55 Initial AART Overcollateralization Amount 28,036,075.11 Current AART Overcollateralization Amount 54,486,010.84 This Servicer Certificate relates only to AART 2014-SN2. This Servicer Certificate should not be relied upon with respect to any other security. The information contained herein is only an indication of past performance and does not predict how AART 2014-SN2 will perform in the future. There have been no material modifications, waivers or extensions 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. Page 8 of 8