BMW Vehicle Lease Trust 2024-2
|
||||||
Collection Period Ending:
|
5/31/25
|
|||||
Previous Payment Date:
|
5/27/25
|
|||||
Current Payment Date:
|
6/25/25
|
Accrued Interest Days (30/360):
|
30
|
|||
Accrued Interest Days (act/360):
|
29
|
|||||
Balances
|
||||||||||||
Initial
|
Beginning of Period
|
End of Period
|
||||||||||
Aggregate Securitization Value
|
$
|
1,468,860,401.91
|
$
|
1,233,415,005.85
|
$
|
1,198,491,729.81
|
||||||
Aggregate Discounted ALG Residual Value
|
$
|
756,051,186.48
|
$
|
743,918,187.58
|
$
|
736,255,237.64
|
||||||
Reserve Fund
|
$
|
3,672,151.00
|
$
|
3,672,151.00
|
$
|
3,672,151.00
|
||||||
Notes
|
||||||||||||
Class A-1 Notes
|
$
|
195,200,000.00
|
-
|
-
|
||||||||
Class A-2a Notes
|
$
|
231,200,000.00
|
$
|
192,716,647.96
|
$
|
175,255,009.94
|
||||||
Class A-2b Notes
|
$
|
231,200,000.00
|
$
|
192,716,647.96
|
$
|
175,255,009.94
|
||||||
Class A-3 Notes
|
$
|
462,400,000.00
|
$
|
462,400,000.00
|
$
|
462,400,000.00
|
||||||
Class A-4 Notes
|
$
|
130,000,000.00
|
$
|
130,000,000.00
|
$
|
130,000,000.00
|
||||||
$
|
1,250,000,000.00
|
$
|
977,833,295.92
|
$
|
942,910,019.88
|
|||||||
Overcollateralization
|
$
|
218,860,401.91
|
$
|
255,581,709.93
|
||||||||
Current Collection Period
|
||||
Beginning Securitization Value
|
$
|
1,233,415,005.85
|
||
Principal Reduction Amount
|
34,923,276.04
|
|||
Ending Securitization Value
|
$
|
1,198,491,729.81
|
||
First Priority Principal
|
||||
Aggregate Outstanding Note Balance (Beginning of Period)
|
$
|
977,833,295.92
|
||
Aggregate Securitization Value (End of Period)
|
$
|
1,198,491,729.81
|
||
First Priority Principal Distribution Amount
|
-
|
|||
Target Note Balance
|
$
|
942,910,019.88
|
||
Target Overcollateralization Amount
|
$
|
255,581,709.93
|
||
Target Overcollateralization Percentage
|
17.40
|
%
|
||
Determination of Available Funds
|
||||
Collections
|
||||
Monthly Payments (net of Daily Advance Reimbursements) *
|
$
|
28,283,039.11
|
||
Reallocation Payment
|
231,950.27
|
|||
Sale Proceeds
|
2,458,175.05
|
|||
Termination Proceeds
|
17,373,612.77
|
|||
Recovery Proceeds
|
19,285.24
|
|||
Total Collections
|
$
|
48,366,062.44
|
||
Advances
|
||||
Monthly Payment Advance
|
$
|
1,819,971.83
|
||
Sales Proceeds Advance
|
-
|
|||
Total Advances
|
$
|
1,819,971.83
|
||
Optional Purchase Price
|
0.00
|
|||
Net Investment Earnings on SUBI Collection Account
|
-
|
|||
Total Available Funds
|
$
|
50,186,034.27
|
||
Collection Account
|
||||
Total Available Funds
|
$
|
50,186,034.27
|
||
Withdrawals from SUBI Collection Account
|
||||
Payment Date Advance Reimbursement
|
1,826,275.51
|
|||
Servicing Fees
|
1,027,845.84
|
|||
Note Distribution Account (Interest Due)
|
3,491,900.91
|
|||
Note Distribution Account (First Priority Principal Distribution Amount)
|
-
|
|||
Reserve Fund Deposit
|
-
|
|||
Note Distribution Account (Regular Principal Distribution Amount)
|
34,923,276.04
|
|||
Amounts paid to Indenture Trustee, Owner Trustee and Asset
|
-
|
|||
Representations Reviewer (subject to annual cap)
|
||||
Amounts paid to Indenture Trustee, Owner Trustee and Asset
|
-
|
|||
Representations Reviewer (not subject to annual cap)
|
||||
Certificate Distribution Account (any remaining payments)
|
8,916,735.97
|
|||
Total Distributions from SUBI Collection Account
|
$
|
50,186,034.27
|
||
Servicer Advance Amounts
|
||||
Beginning Period Unreimbursed Servicer Advance
|
$
|
2,066,219.65
|
||
Current Period Monthly Payment Advance
|
1,819,971.83
|
|||
Current Period Sales Proceeds Advance
|
-
|
|||
Current Reimbursement of Previous Servicer Advance
|
1,826,275.51
|
|||
Ending Period Unreimbursed Previous Servicer Advances
|
$
|
2,059,915.97
|
||
Note Distribution Account
|
||||
Amount Deposited from the Collection Account
|
$
|
38,415,176.95
|
||
Amount Deposited from the Reserve Fund
|
-
|
|||
Amount Paid to Noteholders
|
$
|
38,415,176.95
|
||
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
|
-
|
|||
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
|
-
|
|||
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
|
-
|
|||
giving effect to payments on current Payment Date:
|
||||
Distributions
|
Priority Principal
|
||||
Aggregate Outstanding Note Principal
|
$
|
977,833,295.92
|
||
Monthly Principal Distributable Amount
|
First Priority Principal
|
Current Payment
|
Total Payment
|
Ending Balance
|
Per $1,000
|
Note Factor
|
||||||||||||||||||
Class A-1 Notes
|
-
|
-
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Class A-2a Notes
|
-
|
$
|
17,461,638.02
|
$
|
17,461,638.02
|
$
|
175,255,009.94
|
76
|
0.76
|
|||||||||||||||
Class A-2b Notes
|
-
|
$
|
17,461,638.02
|
$
|
17,461,638.02
|
$
|
175,255,009.94
|
76
|
0.76
|
|||||||||||||||
Class A-3 Notes
|
-
|
-
|
-
|
$
|
462,400,000.00
|
-
|
1.00
|
|||||||||||||||||
Class A-4 Notes
|
-
|
-
|
-
|
$
|
130,000,000.00
|
-
|
1.00
|
|||||||||||||||||
-
|
$
|
34,923,276.04
|
$
|
34,923,276.04
|
$
|
942,910,019.88
|
||||||||||||||||||
Interest Distributable Amount
|
Interest Rate
|
Current Payment
|
Per $1,000
|
|||||||||
Class A-1 Notes
|
4.68100
|
%
|
-
|
0.00
|
||||||||
Class A-2a Notes
|
4.29000
|
%
|
$
|
688,962.02
|
2.98
|
|||||||
Class A-2b Notes
|
4.74197
|
%
|
$
|
736,162.23
|
3.18
|
|||||||
Class A-3 Notes
|
4.18000
|
%
|
$
|
1,610,693.33
|
3.48
|
|||||||
Class A-4 Notes
|
4.21000
|
%
|
$
|
456,083.33
|
3.51
|
|||||||
$
|
3,491,900.91
|
|||||||||||
Carryover Shortfalls
|
||||||||||||
Prior Period Carryover
|
Current Payment
|
Current Period Carryover
|
||||||||||
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
|
-
|
-
|
-
|
|||||||||
Reserve Fund
|
||||
Beginning Period Required Amount
|
$
|
3,672,151.00
|
||
Beginning Period Amount
|
3,672,151.00
|
|||
Current Period Deposit
|
-
|
|||
Net Investment Earnings
|
13,242.56
|
|||
Reserve Fund Draw Amount
|
-
|
|||
Release to Certificateholder
|
13,242.56
|
|||
Ending Period Required Amount
|
3,672,151.00
|
|||
Ending Period Amount
|
$
|
3,672,151.00
|
||
Pool Characteristics
|
||||||||
Initial
|
End of Period
|
|||||||
Number of Specified Leases
|
26,514
|
23,860
|
||||||
Weighted Average Remaining Term
|
28.00
|
19.52
|
||||||
Weighted Average Original Term
|
36.00
|
35.91
|
||||||
Weighted Average Seasoning
|
8.00
|
16.39
|
||||||
Units
|
Securitization Value
|
|||||||
Early Terminations
|
172
|
$
|
8,503,703.80
|
|||||
Scheduled Terminations
|
204
|
$
|
6,918,224.91
|
|||||
Residual Value Losses for the Current Period
|
Beginning
|
Current Period
|
Cumulative
|
|||||||||
Sales and Termination Proceeds
|
$
|
90,918,789.52
|
$
|
18,142,809.63
|
$
|
109,061,599.15
|
||||||
ALG Residual Values
|
67,240,447.15
|
14,481,010.15
|
81,721,457.30
|
|||||||||
Residual Value Loss / (Gain)
|
$
|
(3,661,799.48
|
)
|
$
|
(27,340,141.85
|
)
|
||||||
Cumulative Residual Value Loss / (Gain) as of the end of the prior period
|
$
|
(23,678,342.37
|
)
|
|
Cumulative Residual Value Loss / (Gain) as of the end of the 2nd preceding period
|
$
|
(19,803,054.72
|
)
|
|
Cumulative Residual Value Loss / (Gain) as of the end of the 3rd preceding period
|
$
|
(15,993,970.82
|
)
|
|
Delinquencies as of the end of the current period
|
Units
|
Securitization Value
|
Percentage
|
|||||||||
31-60 Days Delinquent
|
81
|
4,403,570.62
|
0.37
|
%
|
||||||||
61-90 Days Delinquent
|
25
|
1,382,763.94
|
0.12
|
%
|
||||||||
91-120 Days Delinquent
|
9
|
537,902.58
|
0.04
|
%
|
||||||||
121 - 150 Days Delinquent
|
1
|
58,517.92
|
0.00
|
%
|
||||||||
151 Days or More Delinquent
|
0
|
0.00
|
0.00
|
%
|
Total 30+ Days Past Due as of the end of the current period
|
116
|
$
|
6,382,755.06
|
0.53
|
%
|
|||||||
Total 60+ Days Past Due as of the end of the current period
|
35
|
$
|
1,979,184.44
|
0.17
|
%
|
|||||||
Delinquencies as of the end of prior periods
|
||||
Total 30+ Days Past Due as of the end of the prior period
|
0.52
|
%
|
||
Total 30+ Days Past Due as of the end of the 2nd preceding period
|
0.46
|
%
|
||
Total 30+ Days Past Due as of the end of the 3rd preceding period
|
0.36
|
%
|
||
Credit Losses as of the end of the current period
|
Units
|
Dollar Amount
|
||||||
Gross Credit Losses
|
3
|
49,937.06
|
||||||
Recoveries
|
4
|
6,410.51
|
||||||
Net Credit Losses
|
43,526.55
|
|||||||
Cumulative Net Credit Losses
|
16
|
$
|
126,126.67
|
|||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.01
|
%
|
||||||
Charge Off Rate ***
|
0.01
|
%
|
||||||
Average of Net Credit Losses ****
|
$
|
7,882.92
|
||||||
Historical Loss Information
|
||||||||
Credit Losses as of the end of the prior period
|
Units
|
Dollar Amount
|
||||||
Gross Credit Losses
|
7
|
63,141.24
|
||||||
Recoveries
|
4
|
4,408.05
|
||||||
Net Credit Losses
|
58,733.19
|
|||||||
Cumulative Net Credit Losses
|
13
|
$
|
82,600.12
|
|||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.01
|
%
|
||||||
Charge Off Rate ***
|
0.01
|
%
|
||||||
Average of Net Credit Losses ****
|
6,353.86
|
|||||||
Credit Losses as of the end of the 2nd preceding period
|
Units
|
Dollar Amount
|
||||||
Gross Credit Losses
|
1
|
8,413.95
|
||||||
Recoveries
|
1
|
1,106.48
|
||||||
Net Credit Losses
|
7,307.47
|
|||||||
Cumulative Net Credit Losses
|
6
|
$
|
23,866.93
|
|||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.00
|
%
|
||||||
Charge Off Rate ***
|
0.00
|
%
|
||||||
Average of Net Credit Losses ****
|
3,977.82
|
|||||||
Credit Losses as of the end of the 3rd preceding period
|
Units
|
Dollar Amount
|
||||||
Gross Credit Losses
|
1
|
24,815.75
|
||||||
Recoveries
|
2
|
16,406.60
|
||||||
Net Credit Losses
|
8,409.15
|
|||||||
Cumulative Net Credit Losses
|
5
|
$
|
16,559.46
|
|||||
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
|
0.00
|
%
|
||||||
Charge Off Rate ***
|
0.00
|
%
|
||||||
Average of Net Credit Losses ****
|
3,311.89
|
|||||||
* Includes Pull Ahead amounts
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
** Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value is calculated by dividing the Cumulative Net Credit Losses by the Avg Aggregate Sec Value for the period.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Avg Aggregate Sec Value for a period is equal to the average of the Beginning Securitization Value and the Ending Securitization Value for such period.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
*** Charge Off Rate is calculated by dividing Cumulative Net Credit Losses by Initial Aggregate Securitization Value as of the Cut-off date.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
**** Average of Net Credit Losses is calculated by dividing Cumulative Net Credit Losses by the aggregate number of Leases that have experienced a net credit loss.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||