| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 350.0 | 18.4% | 73.8% | +9 bps | 0.24 | 2026-02-25 | A-1+ | P-1 |
| Class A-2a | 306.2 | 16.1% | 57.6% | +30 bps | 0.95 | 2027-10-25 | AAA | Aaa |
| Class A-2b | 306.2 | 16.1% | 41.5% | +30 bps SOFR | 0.95 | 2027-10-25 | AAA | Aaa |
| Class A-3 | 647.5 | 34.1% | 7.4% | +38 bps | 2.27 | 2029-09-25 | AAA | Aaa |
| Class A-4 | 140.0 | 7.4% | 0.0% | +43 bps | 3.66 | 2032-12-27 | 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 | Wells Fargo Securities, RBC Capital Markets, Barclays Capital, SMBC Nikko Securities, HSBC Securities |
| BMWOT 2025-A | BMWOT 2024-A | BMWOT 2023-A | BMWOT 2022-A | |
|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||
| Closing date | 2025-02-12 | 2024-06-11 | 2023-07-18 | 2022-05-18 |
| Pool balance | $1,897.4MM | $1,910.0MM | $1,670.1MM | $1,652.9MM |
| WA Credit Score | 784+6 | 784 | 778 | 778 |
| WA APR | 3.35%+0.95pp | 3.12% | 2.40% | 2.40% |
| WA original term mo | 65.1+1.8 | 63.6 mo | 63.2 mo | 63.2 mo |
| % new vehicles | 70.5% | 68.2% | 60.1% | 60.1% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 14.6% TX 14.6% FL 11.6% | 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 | +30 bps−13bps | +34 bps | +43 bps | +52 bps |
| AAA % of pool | 73.8%+3.2pp | 72.6% | 68.9% | 70.6% |
| Subordination below AAA | 0.0%0.0pp | 0.0% | 0.0% | 0.0% |
| OC (initial) | 2.50% | 2.50% | 2.50% | 2.50% |
| OC target | 2.50% | 2.50% | 2.50% | 2.50% |
| OC floor | 2.50% | 2.50% | 2.50% | 2.50% |
| YSOC | 5.40% | 6.03% | 6.56% | 5.77% |
| Tranches | 5 | 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 2025-A | HAROT 2025-1 | TAOT 2025-A | WOART 2025-A | MBART 2025-1 | GMCAR 2025-1 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-02-12 | 2025-02-11 | 2025-01-29 | 2025-01-29 | 2025-01-23 | 2025-01-15 |
| Pool balance | $1,897.4MM | $2,429.2MM | $1,977.2MM | $1,305.7MM | — | $1,644.9MM |
| WA Credit Score | 784+16 | 768 | 769 | 756 | 761 | 781 |
| WA APR | 3.35%−2.73pp | 4.96% | 6.01% | 6.61% | 7.96% | 6.08% |
| WA original term mo | 65.1−0.7 | 61.7 mo | 65.7 mo | 68.2 mo | 67.5 mo | 13.0 mo |
| % new vehicles | 70.5% | 86.2% | 91.0% | 95.6% | 40.2% | 87.9% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.23% | — | 0.24% |
| Geo top-3 | CA 14.6% TX 14.6% FL 11.6% | CA 16.5% NY 7.3% TX 7.3% | CA 19.7% TX 16.6% PA 4.2% | FL 49.1% GA 18.2% NC 17.8% | CA 21.6% TX 16.5% NY 8.8% | TX 13.9% FL 7.0% MI 5.6% |
| Structure (at issuance) | ||||||
| AAA spread | +30 bps−3bps | +40 bps | +33 bps | +33 bps | +32 bps | +33 bps |
| AAA % of pool | 73.8%+1.0pp | 72.8% | — | 71.1% | — | 73.4% |
| Subordination below AAA | 0.0%−3.0pp | 0.0% | — | 4.2% | — | 3.0% |
| OC (initial) | 2.50% | — | 0.85% | — | 2.50% | 2.75% |
| OC target | 2.50% | — | 0.85% | 0.90% | 2.50% | 2.75% |
| OC floor | 2.50% | — | 0.85% | 0.50% | 2.50% | 2.75% |
| YSOC | 5.40% | 5.71% | 3.90% | 4.86% | — | 3.13% |
| Tranches | 5 | 4 | 6 | 7 | 5 | 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 (191 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.