Canadian Capital Auto Receivables Asset Trust II Series 2007-1 VPR Loan



    TORONTO, April 9 /CNW/ -- Canadian Capital Auto Receivables Asset Trust
II ("CCARAT II") announced that the initial VPR lender in respect of the Auto
Loan Receivables-Backed Notes, Series 2007-1 has declined CCARAT II's request
for an additional loan under the terms of the existing Series 2007-1 VPR loan
agreement to fund the payout of the 4.558% Auto Loan Receivables-Backed Notes,
Series 2007-1, Class A-2 (the "Class A-2 Notes") on April 17, 2009 (the
"Targeted Final Payment Date").
    

    
    CCARAT II, through its financial services agent, General Motors
Acceptance Corporation of Canada, Limited ("GMAC Canada"), is commencing
discussions with alternate lenders to fund the repayment of the Class A-2
Notes on the Targeted Final Payment Date on reasonable commercial terms.  If
CCARAT II is unable to arrange for one or more lenders to fund the repayment
of the Class A-2 Notes on the Targeted Final Payment Date, then a "Monthly Pay
Event" will occur in respect of those notes, and they will not be repaid in
full on the Targeted Final Payment Date, but will instead be paid on
subsequent monthly distribution dates in accordance with their terms and as
described in the prospectus relating to the Class A-2 Notes.  If this occurs,
GMAC Canada, on behalf of CCARAT II, will continue to use reasonable efforts
to locate alternate lenders to fund the repayment of the Class A-2 Notes on a
subsequent monthly distribution date on reasonable commercial terms.  The
inability of CCARAT II to repay the Class A-2 Note in full on the Targeted
Final Payment Date does not constitute an Event of Default.
    

    
    CCARAT II is a special purpose master trust, the business activities of
which are limited to the purchase, acquisition, administration and sale of
financial assets, including financial assets acquired from GMAC Canada and its
affiliates, and the borrowing of funds or the issuance of securities to
finance these purchases.
    

    

    
    Contacts:
    Gina Proia
    917-369-2364
    gina.proia@gmacfs.com




    




For further information:

For further information: Gina Proia, +1-917-369-2364,
gina.proia@gmacfs.com

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