| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 363.0 | 19.0% | 72.6% | 5.51% fxd | 0.25 | 2025-05-27 | A-1+ | P-1 |
| Class A-2a | 320.5 | 16.8% | 55.8% | 5.42% fxd | 0.99 | 2027-02-25 | Aaa | Aaa |
| Class A-2b | 320.5 | 16.8% | 39.1% | +34 bps SOFR | — | 2027-02-25 | AAA | Aaa |
| Class A-3 | 641.0 | 33.6% | 5.5% | 5.18% fxd | 2.34 | 2029-02-26 | Aaa | Aaa |
| Class A-4 | 105.0 | 5.5% | 0.0% | 5.04% fxd | 3.69 | 2031-04-25 | Aaa | Aaa |
| Sponsor | BMW Financial Services NA, LLC |
|---|---|
| Servicer | BMW Financial Services NA, LLC |
| Depositor / Transferor | BMW Financial Services NA, LLC |
| Indenture Trustee | Wilmington Trust, National Association |
| Owner Trustee | Wilmington Trust, National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | J.P. Morgan Securities, BNP Paribas Securities, U.S. Bancorp Investments, MUFG Securities Americas |
| BMWOT 2024-A | BMWOT 2023-A | BMWOT 2022-A | |
|---|---|---|---|
| Collateral (pool at cut-off) | |||
| Closing date | 2024-06-11 | 2023-07-18 | 2022-05-18 |
| Pool balance | $1,910.0MM | $1,670.1MM | $1,652.9MM |
| WA Credit Score | 784+6 | 778 | 778 |
| WA APR | 3.12%+0.72pp | 2.40% | 2.40% |
| WA original term mo | 63.6+0.4 | 63.2 mo | 63.2 mo |
| % new vehicles | 68.2% | 60.1% | 60.1% |
| Reserve % | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 16.7% TX 13.2% FL 11.0% | CA 18.2% TX 12.3% FL 10.5% | CA 17.2% TX 10.4% FL 8.9% |
| Structure (at issuance) | |||
| AAA spread | +34 bps−13bps | +43 bps | +52 bps |
| AAA % of pool | 72.6%+2.9pp | 68.9% | 70.6% |
| Subordination below AAA | 0.0%0.0pp | 0.0% | 0.0% |
| OC (initial) | 2.50% | 2.50% | 2.50% |
| OC target | 2.50% | 2.50% | 2.50% |
| OC floor | 2.50% | 2.50% | 2.50% |
| YSOC | 6.03% | 6.56% | 5.77% |
| Tranches | 5 | 5 | 5 |
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
| BMWOT 2024-A | NAROT 2024-A | WOART 2024-B | HAROT 2024-2 | TAOT 2024-B | GMCAR 2024-2 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-06-11 | 2024-05-22 | 2024-05-22 | 2024-05-21 | 2024-04-30 | 2024-04-10 |
| Pool balance | $1,910.0MM | $1,424.1MM | $1,335.1MM | $2,159.3MM | $1,876.3MM | $1,654.1MM |
| WA Credit Score | 784+15 | 780 | 757 | 769 | 767 | 784 |
| WA APR | 3.12%−2.34pp | 4.85% | 7.32% | 4.73% | 5.70% | 5.46% |
| WA original term mo | 63.6−3.4 | — | 68.3 mo | 63.2 mo | 66.0 mo | 68.0 mo |
| % new vehicles | 68.2% | 10.5% | 95.3% | 86.0% | 86.7% | 87.7% |
| Reserve % | 0.25% | 0.25% | 0.23% | 0.25% | 0.25% | 0.24% |
| Geo top-3 | CA 16.7% TX 13.2% FL 11.0% | TX 17.8% FL 9.5% CA 6.6% | FL 43.8% GA 19.9% NC 16.8% | CA 16.6% TX 9.9% MD 6.1% | CA 23.9% TX 15.3% IL 4.6% | TX 14.4% FL 7.1% NY 5.3% |
| Structure (at issuance) | ||||||
| AAA spread | +34 bps−5bps | +38 bps | +43 bps | +40 bps | +35 bps | +39 bps |
| AAA % of pool | 72.6%+1.7pp | 68.2% | 70.9% | 73.5% | 71.0% | 71.5% |
| Subordination below AAA | 0.0%−2.3pp | 0.0% | 4.2% | 0.0% | 2.3% | 2.9% |
| OC (initial) | 2.50% | 4.00% | — | 2.50% | 0.85% | 1.50% |
| OC target | 2.50% | 4.00% | 0.90% | — | 0.85% | 2.00% |
| OC floor | 2.50% | 4.00% | 0.50% | — | 0.85% | 2.00% |
| YSOC | 6.03% | 8.57% | 6.11% | — | 6.73% | 5.27% |
| Tranches | 5 | 5 | 7 | 4 | 6 | 7 |
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
Left: per-series cumulative NET loss at matched seasoning 10-D (10-D servicer distribution reports). IQR band uses a fixed cohort of all peer series with ≥18 months of data (172 series across 9 issuers). Right: portfolio-level 60+ DQ rate aggregated across all active deals per issuer (calendar time, last 3 years), from ABS-EE loan-level data ABS-EE.
BMW Financial Services NA, LLC — ticker BMWOT.
Peer tier: prime.
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FICO sub-band and new/used stratification.