GSUNITED ~~AUTO~~STATES ~~LOAN~~SECURITIES ~~TRUST~~AND ~~2004-1~~EXCHANGE Record Date: 1/14/05 Distribution Date: 1/18/05 GS AUTO LOAN TRUST 2004-1 Contact: Wells Fargo Bank, N.A. 6th Street and Marquette Avenue Minneapolis, MN 55479 Telephone: (612) 667-8058 Fax: (612) 667-3529 Distribution Summary GS Auto Loan Trust 2004-1 Statement to Certificateholders January 18, 2005 DISTRIBUTION IN DOLLARS ORIGINAL BEGINNING ENDING FACE PRINCIPAL UNPAID UNPAID PRINCIPAL CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL PRINCIPAL INTEREST BALANCE A-1 336,137,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 A-2 297,914,000.00 222,381,822.15 30,743,157.90 277,977.28 31,021,135.18 0.00 0.00 191,638,664.24 A-3 314,944,000.00 314,944,000.00 0.00 559,025.60 559,025.60 0.00 0.00 314,944,000.00 A-4 224,081,000.00 224,081,000.00 0.00 494,845.54 494,845.54 0.00 0.00 224,081,000.00 B 56,587,000.00 38,178,267.94 5,494,056.55 68,402.73 5,562,459.28 0.00 0.00 32,684,211.38 C 26,704,000.00 26,704,000.00 0.00 59,638.93 59,638.93 0.00 0.00 26,704,000.00 D 29,248,000.00 29,248,000.00 0.00 121,866.67 121,866.67 0.00 0.00 29,248,000.00 Cert 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 FACTOR INFORMATION PER $1000 OF ORIGINAL FACE INTEREST RATES BEGINNING ENDING Interest CLASS CUSIP PRINCIPAL PRINCIPAL INTEREST TOTAL PRINCIPAL Class Rate A-1 36292RAJ10 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A-1 1.11% A-2 36292RAK7 746.46314758 103.19474044 0.93307893 104.12781938 643.26840714 A-2 1.50% A-3 36292RAL5 1,000.00000000 0.00000000 1.77500000 1.77500000 1,000.00000000 A-3 2.13% A-4 36292RAM3 1,000.00000000 0.00000000 2.20833333 2.20833333 1,000.00000000 A-4 2.65% B 36292RAN1 674.68266450 97.09043687 1.20880644 98.29924331 577.59222763 B 2.15% C 36292RAP6 1,000.00000000 0.00000000 2.23333333 2.23333333 1,000.00000000 C 2.68% D 36292RAQ4 1,000.00000000 0.00000000 4.16666667 4.16666667 1,000.00000000 D 5.00% Collections received with respect to the receivables Payments Collected Attributed to Principal $20,560,206.88 Accounts Paid in Full 12,619,510.99 Liquidated Receivables (including Cram-downs) 728,632.88 Repurchased Receivables 75,303.63 Available Principal 33,983,654.38 Payments Collected Attributed to Interest 4,867,229.26 Total Available Funds 38,850,883.64 Other Pool Balance Reductions Small Balance write offs 687.57 Other Principal Reductions 0.00 Principal Allocations Regular Principal Allocation 36,237,214.46 Regular Principal Allocation per $1,000 original principal balance 28.18667677 First Allocation of Principal 0.00 First Allocation of Principal per $1,000 original principal balance 0.00000000 Second Allocation of Principal 0.00 Second Allocation of Principal per $1,000 original principal balance 0.00000000 Third Allocation of Principal 0.00 Third Allocation of Principal per $1,000 original principal balance 0.00000000 Pool Balance and Pool Factor Beginning Pool Balance 865,235,025.17 Beginning Pool Factor 0.680415140 Ending Pool Balance 830,299,618.46 Ending Pool Factor 0.652942166 Principal Payment Amounts Class A-1 Principal Payment Amount 0.00 increase / (decrease) in Class A-1 unpaid principal 0.00 Class A-1 previously due and unpaid principal 0.00 Class A-2 Principal Payment Amount 30,743,157.90 increase / (decrease) in Class A-2 unpaid principal 0.00 Class A-2 previously due and unpaid principal 0.00 Class A-3 Principal Payment Amount 0.00 increase / (decrease) in Class A-3 unpaid principal 0.00 Class A-3 previously due and unpaid principal 0.00 Class A-4 Principal Payment Amount 0.00 increase / (decrease) in Class A-4 unpaid principal 0.00 Class A-4 previously due and unpaid principal 0.00 Class B Principal Payment Amount 5,494,056.55 increase / (decrease) in Class B unpaid principal 0.00 Class B previously due and unpaid principal 0.00 Class C Principal Payment Amount 0.00 increase / (decrease) in Class C unpaid principal 0.00 Class C previously due and unpaid principal 0.00 Class D Principal Payment Amount 0.00 increase / (decrease) in Class D unpaid principal 0.00 Class D previously due and unpaid principal 0.00 Certificate Distribution Amount 0.00 Interest Payment Amounts Class A-1 Interest Payment Amount 0.00 increase / (decrease) in Class A-1 unpaid interest 0.00 Class A-1 previously due and unpaid interest 0.00 Class A-2 Interest Payment Amount 277,977.28 increase / (decrease) in Class A-2 unpaid interest 0.00 Class A-2 previously due and unpaid interest 0.00 Class A-3 Interest Payment Amount 559,025.60 increase / (decrease) in Class A-3 unpaid principal 0.00 Class A-3 previously due and unpaid interest 0.00 Class A-4 Interest Payment Amount 494,845.54 increase / (decrease) in Class A-4 unpaid interest 0.00 Class A-4 previously due and unpaid interest 0.00 Class B Interest Payment Amount 68,402.73 increase / (decrease) in Class B unpaid principal 0.00 Class B previously due and unpaid interest 0.00 Class C Interest Payment Amount 59,638.93 increase / (decrease) in Class C unpaid interest 0.00 Class C previously due and unpaid interest 0.00 Class D Interest Payment Amount 121,866.67 increase / (decrease) in Class D unpaid interest 0.00 Class D previously due and unpaid interest 0.00 Certificates n/a Fees Paid Net Servicing Fee 14,420.58 Amount Net Servicing Fee not paid 0.00 Repayment of prior unpaid Net Servicing Fees 0.00 Net Servicing Fee paid to Servicer 14,420.58 Net Servicing Fee per $1,000 original principal balance 0.011340252 cumulative balance of unpaid Net Servicing Fee 0.00 Receivables Servicer Supplement Payment Amount Ford Credit 184,154.74 Huntington 536,874.45 Total Receivables Servicer Supplement Payment Amount 721,029.19 Total Receivables Servicer Supplement Payment Amount per $1,000 original principal balance 0.567012617 Reimbursement of Servicing Advances 16723.15 Reimbursement of Servicing Advances per $1,000 original principal balance 0.013150975 Reimbursement of Prior Month Interest Advances 278,906.18 Reimbursement of Prior Month Interest Advances per $1,000 original principal balance 0.219329988 Owner Trustee Fee 833.33 Owner Trustee Fee per $1,000 original principal balance 0.000655328 Indenture Trustee Fee 0.00 Indenture Trustee Fee per $1,000 original principal balance 0.000000000 Total Distributions 38,850,883.64 Current Period Losses Realized Losses 942,911.12 Cram Down Losses 0.00 Current Period Liquidated or Purchased Receivables Purchase Amount of Receivables repurchased 75,303.63 Liquidated Receivables 1,654,820.85 Delinquency Information Group Totals Principal Period Number Balance Percentage 30 - 59 days 680 9,029,036.61 1.09% 60 - 89 days 123 1,684,410.35 0.20% 90 + days 106 1,582,035.08 0.19% Totals 909 12,295,482.04 1.48% Repossession Information (Total Inventory) Number of Receivables as to which vehicles have been Repossessed 136 Balance of Receivables as to which vehicles have been Repossessed 1,923,510.21 Extension Information Number of Extensions Granted 1,750 Principal Balance of Receivables to which Extensions were Granted 24,258,993.44 Overcollateralization Amounts Beginning Target Overcollateralization Level 17,304,700.50 Ending Target Overcollateralization Level 16,605,992.37 Three-Month Annualized Net Loss Ratio 1.22% Cumulative Net Loss Ratio 0.56% Annualized Net Loss Ratio 0.89% WAC 6.38 WAM 42.60COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported) August 19, 2005

GOLDMAN SACHS ASSET BACKED SECURITIES CORP.
GS AUTO LOAN TRUST 2005-1

(Exact Name of Registrant as Specified in its Charter)

Delaware
Delaware
(State or Other Jurisdiction of Incorporation)


333-101904 333-101904-03		02-0678069 51-6548509
(Commission File Number)		(IRS Employer Identification No.)

85 Broad Street, New York, New York 10004
(Address of Principal Executive Offices) (Zip Code)

(212) 902-1000
(Registrant’s Telephone Number, Including Area Code)

Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On August 19, 2005, the Registrant received an opinion from Mayer, Brown, Rowe & Maw LLP as to the accuracy of certain statements pertaining to tax matters contained in the Prospectus (the “Tax Opinion”). A copy of the Tax Opinion is filed with this Form 8-K as Exhibit 8.1.

Item 9.01. Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.


Exhibit
No.		Document Description
8.1		Opinion of Mayer, Brown, Rowe & Maw LLP as to certain statements pertaining to tax matters contained in the Prospectus.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant, Goldman Sachs Asset Backed Securities Corp. and the Co-Registrant, GS Auto Loan Trust 2005-1 by its Depositor, Goldman Sachs Asset Backed Securities Corp., have each duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


August 19, 2005	GOLDMAN SACHS ASSET BACKED SECURITIES CORP.
	(Registrant)

	By:	/s/ Joseph Marconi

	Name:	Joseph Marconi
	Title:	Vice President

August 19, 2005	GS AUTO LOAN TRUST 2005-1
	By: Goldman Sachs Asset Backed Securities Corp., its Depositor
	(Co-Registrant)

	By:	/s/ Joseph Marconi

	Name:	Joseph Marconi
	Title:	Vice President

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