Debt

9 Months Ended

Sep. 30, 2025

Debt Disclosure [Abstract]

Debt

Debt

	September 30, 2025				December 31, 2024
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Secured debt
Revolving credit facilities	$	2,127	$	2,127	$	5,426	$	5,426
Securitization notes payable	47,267		47,606		44,147		44,327
Total secured debt	49,394		49,733		49,573		49,753
Unsecured debt
Senior notes	55,648		56,810		53,632		54,177
Credit facilities	2,351		2,368		2,178		2,174
Other unsecured debt	8,995		9,035		8,880		8,906
Total unsecured debt	66,994		68,212		64,691		65,258
Total secured and unsecured debt	$	116,389	$	117,945	$	114,264	$	115,010
Fair value utilizing Level 2 inputs			$	115,371			$	112,941
Fair value utilizing Level 3 inputs			$	2,575			$	2,070

Secured Debt Most of the secured debt was issued by VIEs and is repayable only from proceeds related to the underlying pledged assets. Refer to Note 8 for further information.

During the nine months ended September 30, 2025, we renewed revolving credit facilities with a total borrowing capacity of $19.3 billion, and we issued $17.4 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 4.75% and maturity dates ranging from 2027 to 2037.

Unsecured Debt During the nine months ended September 30, 2025, we issued $9.2 billion in aggregate principal amount of senior notes with an initial weighted average interest rate of 5.20% and maturity dates ranging from 2027 to 2035.

General Motors Financial Company, Inc. is the sole guarantor of its subsidiaries' unsecured debt obligations for which a guarantee is provided.

Compliance with Debt Covenants Several of our revolving credit facilities require compliance with certain financial and operational covenants as well as regular reporting to lenders, including providing certain subsidiary financial statements. Certain of our secured debt agreements also contain various covenants, including maintaining portfolio performance ratios as well as limits on deferment levels. Our unsecured debt obligations contain covenants including limitations on our ability to incur certain liens. At September 30, 2025, we were in compliance with these debt covenants.