BMW Vehicle Owner Trust 2023-A
|
||||||
Accrued Interest Date:
|
5/27/25
|
Collection Period Ending:
|
5/31/25
|
|||
Current Payment Date:
|
6/25/25
|
Period:
|
23
|
|||
Balances
|
||||||||||||
Beginning of Period
|
End of Period
|
|||||||||||
Initial
|
||||||||||||
Pool Balance
|
$
|
1,670,093,594.79
|
$
|
593,454,756.44
|
$
|
558,788,869.01
|
||||||
Yield Supplement Overcollateralization Amount
|
$
|
131,629,368.54
|
$
|
27,651,217.94
|
$
|
25,308,152.73
|
||||||
Adjusted Pool Balance
|
$
|
1,538,464,226.25
|
$
|
565,803,538.50
|
$
|
533,480,716.28
|
||||||
Reserve Account
|
$
|
3,846,160.57
|
$
|
3,846,160.57
|
$
|
3,846,160.57
|
||||||
Overcollateralization
|
$
|
38,464,226.25
|
$
|
38,461,605.66
|
$
|
38,461,605.66
|
||||||
Notes
|
Ratio
|
|||||||||||||||
Class A-1 Notes
|
$
|
350,000,000.00
|
-
|
-
|
0.0
|
%
|
||||||||||
Class A-2a Notes
|
$
|
345,000,000.00
|
-
|
-
|
0.0
|
%
|
||||||||||
Class A-2b Notes
|
$
|
180,000,000.00
|
-
|
-
|
0.0
|
%
|
||||||||||
Class A-3 Notes
|
$
|
525,000,000.00
|
$
|
427,341,932.84
|
$
|
395,019,110.62
|
79.8
|
%
|
||||||||
Class A-4 Notes
|
$
|
100,000,000.00
|
$
|
100,000,000.00
|
$
|
100,000,000.00
|
20.2
|
%
|
||||||||
$
|
1,500,000,000.00
|
$
|
527,341,932.84
|
$
|
495,019,110.62
|
100.0
|
%
|
|||||||||
Reconciliation of Collection Account
|
||||
Available Funds:
|
||||
Available Interest:
|
||||
Interest Collected on Receivables
|
$
|
2,292,835.03
|
||
Servicer Advances
|
99,505.15
|
|||
Servicer Advance Reimbursement
|
91,924.59
|
|||
Administrative Purchase Payment
|
0.00
|
|||
Warranty Purchase Payment
|
7,520.33
|
|||
Recoveries
|
16,789.18
|
|||
Investment Earnings from Reserve Account
|
13,870.08
|
|||
Investment Earnings from Collection Account
|
0.00
|
|||
Total Available Interest
|
$
|
2,338,595.18
|
||
Available Principal:
|
||||
Principal Collection on Receivables
|
||||
Receipts of Scheduled Principal
|
$
|
23,351,068.49
|
||
Receipts of Pre-Paid Principal
|
10,805,053.62
|
|||
Liquidation Proceeds
|
132,954.37
|
|||
Administrative Purchase Payment
|
0.00
|
|||
Warranty Purchase Payment
|
278,077.22
|
|||
Total Available Principal
|
$
|
34,567,153.70
|
||
Advances from the Reserve Account
|
$
|
0.00
|
||
Release from the Reserve Fund Account
|
$
|
0.00
|
||
Total Available Funds
|
$
|
36,905,748.88
|
||
Distributions:
|
||||
Servicing Fees
|
$
|
494,545.63
|
||
Non-recoverable Servicer Advance Reimbursement
|
12,331.43
|
|||
Noteholder's Accrued and Unpaid Interest
|
2,385,466.98
|
|||
First Priority Principal Distribution Amount to Noteholders
|
0.00
|
|||
Reserve Account Deposit to achieve the Specified Reserve Account Balance
|
0.00
|
|||
Regular Principal Distributable Amount to Noteholders
|
32,322,822.22
|
|||
Amounts paid to Indenture Trustee, Owner Trustee and Asset
|
0.00
|
|||
Representations Reviewer (subject to annual cap)
|
||||
Amounts paid to Indenture Trustee, Owner Trustee and Asset
|
0.00
|
|||
Representations Reviewer (not subject to annual cap)
|
||||
Certificate Distribution Account (any remaining payments)
|
1,690,582.62
|
|||
Total Distributions
|
$
|
36,905,748.88
|
||
Monthly Period Receivables Principal Balance Calculation
|
||||
Beginning Receivable Principal Balance
|
$
|
593,454,756.44
|
||
Monthly Principal Received
|
||||
Regular Principal Received
|
$
|
23,351,068.49
|
||
Prepaid Principal Received
|
10,805,053.62
|
|||
Liquidation Proceeds
|
132,954.37
|
|||
Principal Balance Allocable to Gross Charge-offs
|
98,733.73
|
|||
Principal Portion of Repurchased Receivables
|
278,077.22
|
|||
Total Monthly Principal Amounts
|
$
|
34,665,887.43
|
||
Ending Receivable Principal Balance
|
$
|
558,788,869.01
|
||
Payments to Indenture Trustee, Owner Trustee and Asset Representations Reviewer
|
||||
Indenture Trustee
|
||||
Amount due and payable to Indenture Trustee before giving effect to
|
-
|
|||
payments on current Payment Date:
|
||||
Amount due and payable to Indenture Trustee after giving effect to
|
0.00
|
|||
payments on current Payment Date:
|
||||
Owner Trustee
|
||||
Amount due and payable to Owner Trustee before giving effect to
|
-
|
|||
payments on current Payment Date:
|
||||
Amount due and payable to Owner Trustee after giving effect to
|
0.00
|
|||
payments on current Payment Date:
|
||||
Asset Representations Reviewer Trustee
|
||||
Amount due and payable to Asset Representations Reviewer before
|
-
|
|||
giving effect to payments on current Payment Date:
|
||||
Amount due and payable to Asset Representations Reviewer after
|
0.00
|
|||
giving effect to payments on current Payment Date:
|
||||
Distributions
|
||||||||||||
Interest Distributable Amount
|
Interest Rate
|
Current Payment
|
Per $1,000
|
|||||||||
Class A-1 Notes
|
5.59300
|
%
|
$
|
0.00
|
0.00
|
|||||||
Class A-2a Notes
|
5.72000
|
%
|
$
|
0.00
|
0.00
|
|||||||
Class A-2b Notes
|
0.00000
|
%
|
$
|
0.00
|
0.00
|
|||||||
Class A-3 Notes
|
5.47000
|
%
|
$
|
1,947,966.98
|
3.71
|
|||||||
Class A-4 Notes
|
5.25000
|
%
|
$
|
437,500.00
|
4.38
|
|||||||
$
|
2,385,466.98
|
|||||||||||
Monthly Principal Distributable Amount
|
Beginning Balance
|
Current Payment
|
Ending Balance
|
Per $1,000
|
Note Factor
|
|||||||||||||||
Class A-1 Notes
|
-
|
-
|
-
|
0.00
|
0.00
|
|||||||||||||||
Class A-2a Notes
|
-
|
-
|
-
|
0.00
|
0.00
|
|||||||||||||||
Class A-2b Notes
|
-
|
-
|
-
|
0.00
|
0.00
|
|||||||||||||||
Class A-3 Notes
|
$
|
427,341,932.84
|
$
|
32,322,822.22
|
$
|
395,019,110.62
|
61.57
|
0.75
|
||||||||||||
Class A-4 Notes
|
$
|
100,000,000.00
|
-
|
$
|
100,000,000.00
|
0.00
|
1.00
|
|||||||||||||
527,341,932.84
|
32,322,822.22
|
495,019,110.62
|
||||||||||||||||||
Carryover Shortfalls
|
||||||||||||
Prior Period Carryover
|
Current Payment
|
Per $1,000
|
||||||||||
Class A-1 Interest Carryover Shortfall
|
-
|
-
|
-
|
|||||||||
Class A-2a Interest Carryover Shortfall
|
-
|
-
|
-
|
|||||||||
Class A-2b Interest Carryover Shortfall
|
-
|
-
|
-
|
|||||||||
Class A-3 Interest Carryover Shortfall
|
-
|
-
|
-
|
|||||||||
Class A-4 Interest Carryover Shortfall
|
-
|
-
|
-
|
|||||||||
Yield Supplement Overcollateralization Amount
|
||||
Previous Distribution Date Required Amount
|
27,651,217.94
|
|||
Beginning Period Amount
|
27,651,217.94
|
|||
Current Distribution Date Required Amount
|
25,308,152.73
|
|||
Current Period Release
|
2,343,065.21
|
|||
Ending Period Amount
|
25,308,152.73
|
|||
Reserve Account
|
||||
Beginning Period Required Amount
|
$
|
3,846,160.57
|
||
Beginning Period Amount
|
3,846,160.57
|
|||
Net Investment Earnings
|
13,870.08
|
|||
Current Period Deposit Amount Due
|
0.00
|
|||
Reserve Fund Draw Amount
|
0.00
|
|||
Ending Period Required Amount
|
3,846,160.57
|
|||
Release to Depositor
|
13,870.08
|
|||
Ending Period Amount
|
$
|
3,846,160.57
|
||
Overcollateralization
|
||||
Beginning Period Overcollateralization Amount
|
$
|
38,461,605.66
|
||
Target Overcollateralization Amount
|
$
|
38,461,605.66
|
||
Ending Period Over Collateralization Amount
|
$
|
38,461,605.66
|
||
Current Period Release
|
$
|
0.00
|
||
Receivables Data
|
||||||||
Beginning Period
|
Ending Period
|
|||||||
Number of Receivables
|
26,968
|
26,128
|
||||||
Weighted Average Remaining Term
|
32.31
|
31.51
|
||||||
Weighted Average Annual Percentage Rate
|
4.71
|
%
|
4.73
|
%
|
||||
Delinquencies as of the end of the Current Period
|
Units
|
Dollar Amount
|
% of Ending Rec Prin Bal
|
|||||||||
30-59 Days
|
141
|
$
|
4,498,089.15
|
0.80
|
%
|
|||||||
60-89 Days
|
48
|
1,905,838.84
|
0.34
|
%
|
||||||||
90-119 Days
|
20
|
623,979.91
|
0.11
|
%
|
||||||||
120+ Days
|
8
|
362,768.94
|
0.06
|
%
|
||||||||
Total 30+ Days Past Due as of the end of the current period
|
217
|
$
|
7,390,676.84
|
1.32
|
%
|
|||||||
Total 60+ Days Past Due as of the end of the current period
|
76
|
$
|
2,892,587.69
|
0.52
|
%
|
|||||||
Delinquencies as of the end of prior periods
|
||||
Total 30+ Days Past Due as of the end of the prior period
|
1.46
|
%
|
||
Total 30+ Days Past Due as of the end of the 2nd preceding period
|
1.42
|
%
|
||
Total 30+ Days Past Due as of the end of the 3rd preceding period
|
1.39
|
%
|
||
Repossessions
|
Units
|
Dollar Amount
|
||||||
Beginning Period Repossessed Receivables Balance
|
19
|
806,218.03
|
||||||
Ending Period Repossessed Receivables Balance
|
26
|
1,176,150.49
|
||||||
Principal Balance of 90+ Day Repossessed Vehicles
|
4
|
271,381.86
|
||||||
Write-offs as of the end of the Current Period
|
Units
|
Dollar Amount
|
||||||
Gross Principal Write-offs
|
5
|
98,733.73
|
||||||
Recoveries
|
16
|
16,789.18
|
||||||
Net Write-Offs
|
81,944.55
|
|||||||
Cumulative Net Write-offs
|
111
|
$
|
1,799,915.93
|
|||||
Ratio of Cumulative Net Write-offs to Avg Portfolio Balance *
|
0.31
|
%
|
||||||
Charge Off Rate **
|
0.11
|
%
|
||||||
Avg of Net Write-offs ***
|
$
|
16,215.46
|
||||||
Historical Loss Information
|
||||||||
Write-offs as of the end of the Prior Period
|
Units
|
Dollar Amount
|
||||||
Gross Principal Write-offs
|
8
|
147,951.84
|
||||||
Recoveries
|
10
|
6,613.51
|
||||||
Net Write-Offs
|
141,338.33
|
|||||||
Cumulative Net Write-offs
|
106
|
$
|
1,717,971.38
|
|||||
Ratio of Cumulative Net Write-offs to Avg Portfolio Balance *
|
0.28
|
%
|
||||||
Charge Off Rate **
|
0.10
|
%
|
||||||
Avg of Net Write-offs ***
|
$
|
16,207.28
|
||||||
Write-offs as of the end of the 2nd Preceding Period
|
Units
|
Dollar Amount
|
||||||
Gross Principal Write-offs
|
8
|
106,565.56
|
||||||
Recoveries
|
9
|
17,196.74
|
||||||
Net Write-Offs
|
89,368.82
|
|||||||
Cumulative Net Write-offs
|
98
|
$
|
1,576,633.05
|
|||||
Ratio of Cumulative Net Write-offs to Avg Portfolio Balance *
|
0.24
|
%
|
||||||
Charge Off Rate **
|
0.09
|
%
|
||||||
Avg of Net Write-offs ***
|
$
|
16,088.09
|
||||||
Write-offs as of the end of the 3rd Preceding Period
|
Units
|
Dollar Amount
|
||||||
Gross Principal Write-offs
|
7
|
135,876.32
|
||||||
Recoveries
|
7
|
23,340.94
|
||||||
Net Write-Offs
|
112,535.38
|
|||||||
Cumulative Net Write-offs
|
90
|
$
|
1,487,264.23
|
|||||
Ratio of Cumulative Net Write-offs to Avg Portfolio Balance *
|
0.22
|
%
|
||||||
Charge Off Rate **
|
0.09
|
%
|
||||||
Avg of Net Write-offs ***
|
$
|
16,525.16
|
||||||
*Ratio of Cumulative Net Write-offs to Avg Portfolio Balance is calculated by dividing the Cumulative Net Write-offs for the period
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
by the Avg Portfolio Balance for the period.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Avg Portfolio Balance for a period is equal to the average of the Beginning Receivable Principal Balance and the Ending Receivable
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Principal Balance for such period.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
**Charge Off Rate is calculated by dividing Cumulative Net Write-offs by initial Pool Balance as of the Cut-off Date.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
*** Average of Net Write-offs is calculated by dividing Cumulative Net Write-offs by the aggregate number of Receivables
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
that have experienced a net write-off.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||