Form 10-D

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-D

ASSET-BACKED ISSUER

DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from

March 1, 2006 to March 31, 2006

Commission File Number of issuing entity: 333-121120-06

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2006-1

(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 333-121120

AFS SENSUB CORP.

(Exact name of depositor as specified in its charter)

AMERICREDIT FINANCIAL SERVICES, INC.

(Exact name of sponsor as specified in its charter)


Delaware		20-4282465
(State or other jurisdiction of incorporation or organization of the issuing entity)		(I.R.S. Employer Identification No.)

c/o AmeriCredit Financial Services, Inc. 801 Cherry Street, Suite 3900 Fort Worth, TX 76102		76102
(Address of principal executive offices of issuing entity)		(Zip Code)

(817) 302-7000

(Telephone number, including area code)

N/A

(Former name, former address, if changed since last report)


	Registered/reported pursuant to (check one)			Name of exchange (If Section 12(b))
Title of Class	Section 12(b)	Section 12(g)	Section 15(d)	Name of exchange (If Section 12(b))
Class A-1	¨	¨	x
Class A-2	¨	¨	x
Class A-3	¨	¨	x
Class B	¨	¨	x
Class C	¨	¨	x
Class D	¨	¨	x
Class E	¨	¨	x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

PART I – DISTRIBUTION INFORMATION

ITEM 1 – Distribution and Pool Performance Information.

The response to Item 1 is set forth in part herein and in part in Exhibit 99.

The record date for distributions described in Exhibit 99 was March 31, 2006.

PART II – OTHER INFORMATION

ITEM 2 – Legal Proceedings.

None

ITEM 3 – Sales of Securities and Use of Proceeds.

None

ITEM 4 – Defaults Upon Senior Securities.

None

ITEM 5 – Submission of Matters to a Vote of Security Holders.

None

ITEM 6 – Significant Obligors of Pool Assets.

None

ITEM 7 – Significant Enhancement.

None

ITEM 8 – Other Information.

None

ITEM 9 – Exhibits

(a)	Documents filed as part of this report:


99		Monthly Servicer’s Certificate dated March 31, 2006.

(b)	Exhibits required by this Form and Item 601 of Regulation S-K (17 CFR 229.601):

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

AMERICREDIT AUTOMOBILE RECEIVABLES TRUST 2006-1

(Issuing Entity)

Dated: April 10, 2006


By:		AmeriCredit Financial Services, Inc., as Servicer

By:		/s/ Chris A. Choate
Name:		Chris A. Choate
Title:		Executive Vice President, Chief Financial Officer and Treasurer

EXHIBIT INDEX


EXHIBIT		DESCRIPTION

99		Monthly Servicer’s Certificate dated March 31, 2006

EX-99 2 dex99.htm MONTHLY SERVICER'S CERTIFICATE Monthly Servicer's Certificate

Exhibit 99

AmeriCredit Automobile Receivables Trust 2006-1

Class A-1 4.78 % Asset Backed Notes

Class A-2 5.11 % Asset Backed Notes

Class A-3 5.11 % Asset Backed Notes

Class B 5.20 % Asset Backed Notes

Class C 5.28 % Asset Backed Notes

Class D 5.49 % Asset Backed Notes

Class E 6.62 % Asset Backed Notes

Servicer’s Certificate

This Servicer’s Certificate has been prepared pursuant to Section 4.9 of the Sale and Servicing Agreement among AmeriCredit Automobile Receivables Trust 2006-1, as Issuer, AmeriCredit Financial Services, Inc., as Servicer, AFS SenSub Corp., as Seller, and Wells Fargo Bank, N.A., as Trust Collateral Agent and Backup Servicer, dated as of February 22, 2006. Defined terms have the meanings assigned to them in the Sale and Servicing Agreement or in other Transaction Documents.


Monthly Period Beginning:		02/23/2006
Monthly Period Ending:		03/31/2006
Prev. Distribution/Close Date:		03/02/2006
Distribution Date:		04/06/2006
Days of Interest for Period:		35
Days in Collection Period:		37
Months Seasoned:		1


Purchases	Units	Cut-off Date	Closing Date	Original Pool Balance
Initial Purchase	59,185	02/23/2006	03/02/2006	$	1,000,001,967
Total	59,185			$	1,000,001,967

I.	MONTHLY PERIOD RECEIVABLES PRINCIPAL BALANCE CALCULATION:

{1}

Beginning of period Aggregate Principal Balance

{1}

1,000,001,967

Monthly Principal Amounts

{2}

Collections on Receivables outstanding at end of period

{2}

30,445,795

{3}

Collections on Receivables paid off during period

{3}

9,503,379

{4}

Receivables becoming Liquidated Receivables during period

{4}

973,513

{5}

Receivables becoming Purchased Receivables during period

{5}

{6}

Other Receivables adjustments

{6}

12,353

{7}

Less amounts allocable to Interest

{7}

(16,924,842

)

{8}

Total Monthly Principal Amounts

{8}

24,010,198

{9}

End of period Aggregate Principal Balance

{9}

975,991,769

{10}

Pool Factor

{10}

97.5989849

II.

MONTHLY PERIOD NOTE BALANCE CALCULATION:


			Class A-1			Class A-2			Class A-3			Class B
{11}	Original Note Balance	{11}	$	166,000,000		$	309,000,000		$	200,000,000		$	75,000,000

{12}	Beginning of period Note Balance	{12}	$	166,000,000		$	309,000,000		$	200,000,000		$	75,000,000

{13}	Noteholders’ Principal Distributable Amount	{13}		24,010,198			0			0			0
{14}	Noteholders’ Accelerated Principal Amount	{14}		9,977,055			0			0			0
{15}	Aggregate Principal Parity Amount	{15}		0			0			0			0
{16}	Matured Principal Shortfall	{16}

{17}	End of period Note Balance	{17}	$	132,012,747		$	309,000,000		$	200,000,000		$	75,000,000

{18}	Note Pool Factors	{18}		79.5257512	%		100.0000000	%		100.0000000	%		100.0000000	%


			Class C			Class D			Class E			TOTAL
			$	80,000,000		$	50,000,000		$	65,000,000		$	945,000,000

{19}	Beginning of period Note Balance	{19}	$	80,000,000		$	50,000,000		$	65,000,000		$	945,000,000

{20}	Noteholders’ Principal Distributable Amount	{20}		0			0			0			24,010,198
{21}	Noteholders’ Accelerated Principal Amount	{21}		0			0			0			9,977,055
{22}	Class E Accelerated Principal Amount	{22}								0			0
{23}	Aggregate Principal Parity Amount	{23}		0			0			0			0
{24}	Matured Principal Shortfall	{24}											0

{25}	End of period Note Balance	{25}	$	80,000,000		$	50,000,000		$	65,000,000		$	911,012,747

{26}	Note Pool Factors	{26}		100.0000000	%		100.0000000	%		100.0000000	%		96.4034653	%

III.

CALCULATION OF STEP-DOWN AMOUNT:

{27}

Ending Pool Balance

{27}

975,991,769

{28}

Lesser of (Max of 16.50% of Ending Pool Balance or $5,000,010) or Beg Note Balance

{28}

161,038,642

{29}

Aggregate, Cumulative Amount paid to Class E Noteholders through prior period

{29}

{30}

Less Specified Reserve Balance

{30}

(15,000,030

)

{31}

Sum of {28}, {29}, and {30}

{31}

146,038,612

{32}

25% of Ending Pool Balance

{32}

243,997,942

{33}

Lesser of {31} or {32}

{33}

146,038,612

{34}

Required Pro Forma Note Balance {27} - {33}

{34}

829,953,157

{35}

Beginning Note Balance

{35}

945,000,000

{36}

Total Monthly Principal Amount

{36}

(24,010,198

)

{37}

Pro-Forma Note Balance ( Assuming 100% Pay-down)

{37}

920,989,802

{38}

Step-Down amount (Excess of Required Pro-forma over Pro-forma Note Balance)

{38}

IV.

CALCULATION OF PRINCIPAL DISTRIBUTABLE AMOUNT:

{39}

Total Monthly Principal Amounts

{39}

24,010,198

{40}

Step-down Amount

{40}

{41}

Principal Distributable Amount

{41}

24,010,198

V.	CALCULATION OF INTEREST DISTRIBUTABLE AMOUNT:


	Class	Beginning Note Balance		Interest Carryover	Interest Rate		Days	Days Basis	Calculated Interest
{42}	Class A - 1	$	166,000,000	0	4.7800	%	35	Actual days/360	$	771,439
{43}	Class A - 2		309,000,000	0	5.1100	%	34	30/360		1,491,268
{44}	Class A - 3		200,000,000	0	5.1100	%	34	30/360		965,222
{45}	Class B		75,000,000	0	5.2000	%	34	30/360		368,333
{46}	Class C		80,000,000	0	5.2800	%	34	30/360		398,933
{47}	Class D		50,000,000	0	5.4900	%	34	30/360		259,250
{48}	Class E		65,000,000	0	6.6200	%	34	30/360		406,394

VI.

RECONCILIATION OF COLLECTION ACCOUNT:


Available Funds:
{49}	Collections on Receivables during period (net of Liquidation Proceeds and Fees)	{49}	$	39,948,378

{50}	Liquidation Proceeds collected during period	{50}		867,687

{51}	Purchase Amounts or amounts from Servicer deposited in Collection Account	{51}		0

{52}	Investment Earnings - Collection Account	{52}		82,352

{53}	Investment Earnings - Transfer From Reserve Account	{53}		64,424

{54}	Collection of Supplemental Servicing - Extension Fees	{54}		796

{55}	Collection of Supplemental Servicing - Repo and Recovery Fees Advanced	{55}		15,509

{56}	Collection of Supplemental Servicing - Late Fees	{56}		25,699

{57}	Total Available Funds	{57}				41,004,845

Distributions:
{58}	Base Servicing Fee	{58}		2,312,505

{59}	Repo and Recovery Fees - reimbursed to Servicer	{59}		15,509

{60}	Bank Service Charges - reimbursed to Servicer	{60}		40

{61}	Late Fees - reimbursed to Servicer	{61}		25,699

{62}	Extension Fees - reimbursed to Servicer	{62}		0

{63}	Agent fees	{63}		0

{64}	Backup Servicing Fees	{64}		3,000

{65}	Class A-1 Noteholders’ Interest Distributable Amount	{65}		771,439

{66}	Class A-2 Noteholders’ Interest Distributable Amount	{66}		1,491,268

{67}	Class A-3 Noteholders’ Interest Distributable Amount	{67}		965,222

{68}	Class A Noteholders’ Principal Parity Amount or Matured Principal Shortfall	{68}		0

{69}	Class B Noteholders’ Interest Distributable Amount	{69}		368,333

{70}	Class B Noteholders’ Principal Parity Amount or Matured Principal Shortfall	{70}		0

{71}	Class C Noteholders’ Interest Distributable Amount	{71}		398,933

{72}	Class C Noteholders’ Principal Parity Amount or Matured Principal Shortfall	{72}		0

{73}	Class D Noteholders’ Interest Distributable Amount	{73}		259,250

{74}	Class D Noteholders’ Principal Parity Amount or Matured Principal Shortfall	{74}		0

{75}	Class E Noteholders’ Interest Distributable Amount	{75}		406,394

{76}	Class E Noteholders’ Principal Parity Amount or Matured Principal Shortfall	{76}		0

{77}	Noteholders’ Principal Distributable Amount	{77}		24,010,198

{78}	Total distributions (Prior to Reserve Account Deposit)	{78}				31,027,790

{79}	Excess Available Funds	{79}				9,977,055

{80}	Reserve Account Withdrawal Amount	{80}				0

{81}	To the Reserve Account, the Reserve Account Deposit	{81}				0

{82}	To the Noteholders, the Accelerated Principal Amount (as calculated below)	{82}				(9,977,055	)

{83}	To the Class E Noteholders, until Class E Balance is zero	{83}				0

{84}	To the Certificateholders, the aggregate amount remaining	{84}			$	0

VlI.

CALCULATION OF PRINCIPAL PARITY AMOUNT:


	Class	(X) Cumulative Note Balance		(Y) Pool Balance		(I) Excess of (X) - (Y)		(II) Available Funds in Waterfall		Lesser of (I) or (II)
{85}	Class A	$	675,000,000	$	975,991,769	$	0	$	35,420,163	$	0
{86}	Class B		750,000,000		975,991,769		0		35,051,830		0
{87}	Class C		830,000,000		975,991,769		0		34,652,897		0
{88}	Class D		880,000,000		975,991,769		0		34,393,647		0
{89}	Class E		945,000,000		975,991,769		0		33,987,253		0

{90}	Total									$	0

**	Principal Parity Amount distributed as Noteholders Principal Distributable in first three months of Trust

VlII.

CALCULATION OF ACCELERATED PRINCIPAL AMOUNT:

{91}

Excess Available Funds

{91}

9,977,055

{92}

Pro-Forma Note Balance (Calculated after Step-Down)

{92}

920,989,802

{93}

Required Pro Forma Note Balance

{93}

829,953,157

{94}

Excess of Pro-Forma Balance over Required Pro-Forma Balance

{94}

91,036,645

{95}

Lesser of Excess Available Funds or Excess of Pro-Forma Note Balance

{95}

9,977,055

IX. RECONCILIATION OF RESERVE ACCOUNT:

Initial

{96}

Specified Reserve Balance

15,000,030

{97}

Beginning of period Reserve Account balance

{97}

15,000,030

{98}

The Reserve Account Deposit, from Collection Account

{98}

{99}

Investment Earnings

{99}

64,424

{100}

Investment Earnings - transferred to Collection Account Available Funds

{100}

(64,424

)

{101}

Reserve Account Withdrawal Amount

{101}

{102}

End of period Reserve Account balance

{102}

15,000,030

X. CALCULATION OF TOTAL OVERCOLLATERALIZATION:

{103}

Aggregate Principal Balance

{103}

975,991,769

{104}

End of Period Note Balance

{104}

911,012,747

{105}

Overcollateralization (Undercollateralization)

{105}

64,979,022

{106}

Overcollateralization %

{106}

6.66

XI. MONTHLY PERIOD AND CUMULATIVE NUMBER OF RECEIVABLES CALCULATION:

Cumulative

Monthly

{107}

Original Number of Receivables

{107}

59,185

{108}

Beginning of period number of Receivables

{108}

59,185

{109}

Number of Receivables becoming Liquidated Receivables during period

{109}

{110}

Number of Receivables becoming Purchased Receivables during period

{110}

{111}

Number of Receivables paid off during period

{111}

610

{112}

End of period number of Receivables

{112}

58,515

XII.

STATISTICAL DATA: (CURRENT AND HISTORICAL):


			Original			Prev. Month			Current
{113}	Weighted Average APR of the Receivables	{113}		17.10	%		17.10	%		17.12	%
{114}	Weighted Average Remaining Term of the Receivables	{114}		64.00			64.00			62.40
{115}	Weighted Average Original Term of Receivables	{115}		65.00			65.00			65.00
{116}	Average Receivable Balance	{116}	$	16,896		$	16,896		$	16,679
{117}	Net Losses in Period	{117}	$	0		$	0		$	105,826
{118}	Aggregate Realized Losses	{118}	$	0		$	0		$	105,826
{119}	Aggregate Realized Loss Percentage	{119}					0.000	%		0.010	%
{120}	Prepay Speed	{120}					0.0000			1.4272

XIII.

DELINQUENCY:


			Units	Dollars		Percentage
Receivables with Scheduled Payment delinquent
{121}	31-60 days	{121}	848	$	13,599,832	1.36	%
{122}	61-90 days	{122}	63		965,224	0.10	%
{123}	over 90 days	{123}	1		14,658	0.00	%

{124}	Total	{124}	912	$	14,579,714	1.46	%


XIV. EXTENSIONS

{125}	Principal Balance of Receivables extended during current period	{125}		$	72,729

{126}	Beginning of Period Aggregate Principal Balance	{126}			1,000,001,967

{127}	Extension Rate {125} divided by {126}	{127}				0.01	%



By:		/s/ Connie Coffey
Name:		Connie Coffey
Title:		Senior Vice President, Treasury Reporting
Date:		April 4, 2006

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