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GMAC Exercises Option to Purchase Capital Auto Receivables Asset Trust 2002-3


May 2006
 Filed under: GENERAL MOTORS CORPORATE Car News | GENERAL MOTORS CORPORATE Headlines
DETROIT, MI (2006-05-02) – General Motors Acceptance Corporation (GMAC) announced today that it will exercise its option to purchase the remainder of the Capital Auto Receivables Asset Trust 2002-3 on May 15, 2006. This will result in a termination of all of the outstanding Capital Auto Receivables Asset Trust 2002-3 Class A-4 LIBOR + 0.11% Asset Backed Notes and all of the outstanding Capital Auto Receivables Asset Trust 2002-3 Class B 3.440% Asset Backed Certificates.
The Notes will be purchased at $791.33438146 per $1,000 face amount, plus accrued interest from April 17, 2006. A total of $334,500,000.00 of Capital Auto Receivables Asset Trust 2002-3 Class A-4 LIBOR + 0.11% Asset Backed Notes were sold to the public in August 2002.

The Notes may be presented and surrendered for payment to JPMorgan Chase Bank, Institutional Trust Services, P.O. Box 2320, Dallas, TX 75221-2320. Interest on the Notes will cease to accrue on and after May 15, 2006.

The Certificates will be purchased at $89.69886503 per $1,000 face amount, plus accrued interest from April 17, 2006. A total of $91,177,569.94 of Capital Auto Receivables Asset Trust 2002-3 Class B 3.440% Asset Backed Certificates were sold to the public in August 2002.

The Certificates may be presented and surrendered for payment to Deutsche Bank, DB Services Tennessee, Inc., Corporate Trust & Agency Services, Securities Payment Unit, 648 Grassmere Park Road, Nashville, TN, 37211. Interest on the Certificates will cease to accrue on and after May 15, 2006.

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