BMW Vehicle Lease Trust 2023-2
  
           
           
Collection Period Ending:
6/30/25
        
Previous Payment Date:
6/25/25
        
Current Payment Date:
7/25/25
Accrued Interest Days (30/360):
    
30
  
Accrued Interest Days (act/360):
    
30
  
             

Balances
  
                   
    
Initial
    
Beginning of Period
    
End of Period
  
Aggregate Securitization Value
  
$
1,439,263,098.40
    
$
502,082,280.67
    
$
462,277,803.82
  
Aggregate Discounted ALG Residual Value
  
$
823,565,558.28
    
$
397,655,274.83
    
$
373,273,629.83
  
Reserve Fund
  
$
3,598,157.75
    
$
3,598,157.75
    
$
3,598,157.75
  
                         
Notes
                        
Class A-1 Notes
  
$
187,500,000.00
      
-
      
-
  
Class A-2 Notes
  
$
468,750,000.00
      
-
      
-
  
Class A-3 Notes
  
$
468,750,000.00
    
$
151,837,605.77
    
$
112,033,128.92
  
Class A-4 Notes
  
$
125,000,000.00
    
$
125,000,000.00
    
$
125,000,000.00
  
    
$
1,250,000,000.00
    
$
276,837,605.77
    
$
237,033,128.92
  
                         
Overcollateralization
  
$
189,263,098.40
            
$
225,244,674.90
  
                         
                         
                         
                         

Current Collection Period
  
       
Beginning Securitization Value
  
$
502,082,280.67
  
Principal Reduction Amount
    
39,804,476.85
  
Ending Securitization Value
  
$
462,277,803.82
  
         
First Priority Principal
        
Aggregate Outstanding Note Balance (Beginning of Period)
  
$
276,837,605.77
  
Aggregate Securitization Value (End of Period)
  
$
462,277,803.82
  
First Priority Principal Distribution Amount
    
-
  
         
Target Note Balance
  
$
237,033,128.92
  
Target Overcollateralization Amount
  
$
225,244,674.90
  
Target Overcollateralization Percentage
    
15.65
%
         
Determination of Available Funds
        
Collections
        
         
Monthly Payments (net of Daily Advance Reimbursements) *
  
$
13,163,964.03
  
Reallocation Payment
    
328,705.83
  
Sale Proceeds
    
3,354,356.02
  
Termination Proceeds
    
32,065,040.03
  
Recovery Proceeds
    
28,406.94
  
Total Collections
  
$
48,940,472.85
  
Advances
        
Monthly Payment Advance
  
$
1,498,664.20
  
Sales Proceeds Advance
    
-
  
Total Advances
  
$
1,498,664.20
  
Optional Purchase Price
    
0.00
  
Net Investment Earnings on SUBI Collection Account
    
-
  
Total Available Funds
  
$
50,439,137.05
  
         

Collection Account
  
       
Total Available Funds
  
$
50,439,137.05
  
Withdrawals from SUBI Collection Account
        
Payment Date Advance Reimbursement
    
1,425,092.82
  
Servicing Fees
    
418,401.90
  
Note Distribution Account (Interest Due)
    
1,380,839.39
  
Note Distribution Account (First Priority Principal Distribution Amount)
    
-
  
Reserve Fund Deposit
    
-
  
Note Distribution Account (Regular Principal Distribution Amount)
    
39,804,476.85
  
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)
    
7,410,326.09
  
         
Total Distributions from SUBI Collection Account
  
$
50,439,137.05
  
         
         
         

Servicer Advance Amounts
  
       
Beginning Period Unreimbursed Servicer Advance
  
$
1,742,799.24
  
Current Period Monthly Payment Advance
    
1,498,664.20
  
Current Period Sales Proceeds Advance
    
-
  
Current Reimbursement of Previous Servicer Advance
    
1,425,092.82
  
Ending Period Unreimbursed Previous Servicer Advances
  
$
1,816,370.62
  
         
         

Note Distribution Account
  
       
       
Amount Deposited from the Collection Account
  
$
41,185,316.24
  
Amount Deposited from the Reserve Fund
    
-
  
Amount Paid to Noteholders
  
$
41,185,316.24
  
         

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        $        276,837,605.77
  
         

Monthly Principal Distributable Amount
  
First Priority Principal
    
Current Payment
    
Total Payment
    
Ending Balance
    
Per $1,000
    
Note Factor
  
Class A-1 Notes
    
-
      
-
      
-
      
-
      
-
      
-
  
Class A-2 Notes
    
-
      
-
      
-
      
-
      
-
      
-
  
Class A-3 Notes
    
-
    
$
39,804,476.85
    
$
39,804,476.85
    
$
112,033,128.92
      
85
      
0.24
  
Class A-4 Notes
    
-
      
-
      
-
    
$
125,000,000.00
      
-
      
1.00
  
     
-
    
$
39,804,476.85
    
$
39,804,476.85
    
$
237,033,128.92
                  
                                                 
                                                 
                                                 

Interest Distributable Amount
  
Interest Rate
    
Current Payment
    
Per $1,000
  
Class A-1 Notes
    
5.68700
%
    
-
      
0.00
  
Class A-2 Notes
    
5.95000
%
    
-
      
0.00
  
Class A-3 Notes
    
5.99000
%
  
$
757,922.72
      
1.62
  
Class A-4 Notes
    
5.98000
%
  
$
622,916.67
      
4.98
  
           
$
1,380,839.39
          
                         

Carryover Shortfalls
  
                   
   
Prior Period Carryover
    
Current Payment
    
Current Period Carryover
  
Class A-1 Interest Carryover Shortfall
    
-
      
-
      
-
  
Class A-2 Interest Carryover Shortfall
    
-
      
-
      
-
  
Class A-3 Interest Carryover Shortfall
    
-
      
-
      
-
  
Class A-4 Interest Carryover Shortfall
    
-
      
-
      
-
  
                         
                         
                         
                         

Reserve Fund
  
       
Beginning Period Required Amount
  
$
3,598,157.75
  
Beginning Period Amount
    
3,598,157.75
  
Current Period Deposit
    
-
  
Net Investment Earnings
    
12,560.64
  
Reserve Fund Draw Amount
    
-
  
Release to Certificateholder
    
12,560.64
  
Ending Period Required Amount
    
3,598,157.75
  
Ending Period Amount
  
$
3,598,157.75
  
         
         
         

Pool Characteristics
  
   
Initial
    
End of Period
  
Number of Specified Leases
    
32,105
      
12,001
  
Weighted Average Remaining Term
    
24.00
      
8.40
  
Weighted Average Original Term
    
36.00
      
35.98
  
Weighted Average Seasoning
    
12.00
      
27.59
  
                 
   
Units
    
Securitization Value
  
Early Terminations
    
263
    
$
10,363,876.35
  
Scheduled Terminations
    
542
    
$
18,629,412.51
  
                 

Residual Value Losses for the Current Period
  
Beginning
    
Current Period
    
Cumulative
  
Sales and Termination Proceeds
  
$
690,363,655.63
    
$
33,583,713.19
    
$
723,947,368.82
  
ALG Residual Values
    
562,849,901.82
      
27,979,052.05
      
590,828,953.87
  
Residual Value Loss / (Gain)
          
$
(5,604,661.14
)
  
$
(133,118,414.95
)
                         
                         
                         

Cumulative Residual Value Loss / (Gain) as of the end of the prior period
  
$
(127,513,753.81
)
Cumulative Residual Value Loss / (Gain) as of the end of the 2nd preceding period
  
$
(121,419,098.07
)
Cumulative Residual Value Loss / (Gain) as of the end of the 3rd preceding period
  
$
(114,628,666.82
)
         

Delinquencies as of the end of the current period
  
Units
    
Securitization Value
    
Percentage
  
31-60 Days Delinquent
    
137
      
5,763,481.88
      
1.25
%
61-90 Days Delinquent
    
42
      
1,901,612.57
      
0.41
%
91-120 Days Delinquent
    
20
      
837,332.27
      
0.18
%
121 - 150 Days Delinquent
    
2
      
116,166.33
      
0.03
%
151 Days or More Delinquent
    
0
      
0.00
      
0.00
%
Total 30+ Days Past Due as of the end of the current period
    
201
    
$
8,618,593.05
      
1.86
%
Total 60+ Days Past Due as of the end of the current period
    
64
    
$
2,855,111.18
      
0.62
%
                         

Delinquencies as of the end of prior periods
      
Total 30+ Days Past Due as of the end of the prior period
    
1.70
%
Total 30+ Days Past Due as of the end of the 2nd preceding period
    
1.56
%
Total 30+ Days Past Due as of the end of the 3rd preceding period
    
1.53
%
         

Credit Losses as of the end of the current period
  
Units
    
Dollar Amount
  
Gross Credit Losses
    
6
      
50,444.35
  
Recoveries
    
15
      
21,329.59
  
Net Credit Losses
            
29,114.76
  
Cumulative Net Credit Losses
    
85
    
$
733,750.29
  
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
      
0.15
%
Charge Off Rate ***
            
0.05
%
Average of Net Credit Losses ****
          
$
8,632.36
  
                 
                 
                 

Historical Loss Information
  
             
Credit Losses as of the end of the prior period
  
Units
    
Dollar Amount
  
Gross Credit Losses
    
6
      
51,622.86
  
Recoveries
    
14
      
59,928.92
  
Net Credit Losses
            
(8,306.06
)
Cumulative Net Credit Losses
    
79
    
$
704,635.53
  
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
      
0.13
%
Charge Off Rate ***
      
0.05
%
Average of Net Credit Losses ****
      
8,919.44
  
                 
Credit Losses as of the end of the 2nd preceding period
  
Units
    
Dollar Amount
  
Gross Credit Losses
    
8
      
103,267.38
  
Recoveries
    
7
      
3,638.72
  
Net Credit Losses
            
99,628.66
  
Cumulative Net Credit Losses
    
73
    
$
712,941.59
  
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
      
0.13
%
Charge Off Rate ***
      
0.05
%
Average of Net Credit Losses ****
      
9,766.32
  
                 
                 
Credit Losses as of the end of the 3rd preceding period
  
Units
    
Dollar Amount
  
Gross Credit Losses
    
7
      
139,653.01
  
Recoveries
    
6
      
8,452.72
  
Net Credit Losses
            
131,200.29
  
Cumulative Net Credit Losses
    
65
    
$
613,312.93
  
Ratio of Cumulative Net Credit Losses to Aggregate Securitization Value **
      
0.10
%
Charge Off Rate ***
      
0.04
%
Average of Net Credit Losses ****
      
9,435.58
  
                 
                 
* 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.