Presale Reports are compiled by Black Analytics from SEC EDGAR filings (424B5, FWP) and ABS-EE loan-level data. Published the same day a deal’s first filing reaches EDGAR; pool, structural, and peer context reflects what was known at the subject’s issuance. For ongoing deal performance after closing, see the Auto ABS Explorer. Informational only — not a credit rating.
Bond-side risk distribution — how principal splits across tranches and how each is supported.
| Class | Size ($MM)a | % Poolb | Sub %b | Coupon / Spreada | WALa | Legal Finalc | S&Pa | Fitcha |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 205.0 | 15.2% | 84.8% | 4.46% fxd | 0.29 | 2026-06-25 | A-1+ | F1+ |
| Class A-2a | 350.0 | 25.9% | 58.9% | 4.43% fxd | — | 2027-09-27 | — | — |
| Class A-2b | 161.0 | 11.9% | 47.0% | +39 bps SOFR | — | 2027-09-27 | — | — |
| Class A-3 | 511.0 | 37.9% | 9.1% | 4.43% fxd | 1.98 | 2028-06-26 | AAA | AAA |
| Class A-4 | 123.0 | 9.1% | 0.0% | 4.49% fxd | 2.44 | 2028-10-25 | AAA | AAA |
Subject deal alongside the sponsor's 1 most-recent prior deals — collateral and structural attributes side by side.
Issuer history: BMW Financial Services NA, LLC (normalized). Up to 5 most-recent prior deals.
| BMWLT 2025-1 | BMWLT 2024-2 | |
|---|---|---|
| Collateral (pool at cut-off) | ||
| Closing date | 2025-06-10 | 2024-10-07 |
| Pool balance | — | — |
| WA Credit Score | 792 | 789 |
| WA APR | 4.43% | 4.35% |
| WA original term mo | 36.0 | 36.0 mo |
| % new vehicles | 100.0% | 100.0% |
| Reserve % | — | — |
| Geo top-3 | CA 18.0% FL 15.0% NY 9.3% | CA 19.2% FL 13.6% NJ 9.2% |
| Structure (at issuance) | ||
| AAA spread | — | +42 bps |
| AAA % of pool | 47.0% | 84.4% |
| Subordination below AAA | 0.0% | 0.0% |
| Overcollateralization | — | — |
| Yield Supplement OC | — | — |
| Tranches | 5 | 5 |
Subject deal alongside representative peer deals — one most-recent deal per peer issuer in the subject's cohort.
Peer cohort: same FICO tier. Most-recent deal per peer ticker (max 5).
| BMWLT 2025-1 | GMALT 2025-2 | MBALT 2025-A | FCALT 2025-A | NALT 2025-A | |
|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||
| Closing date | 2025-06-10 | 2025-05-29 | 2025-05-21 | 2025-01-27 | 2025-01-22 |
| Pool balance | — | — | — | — | — |
| WA Credit Score | 792+20 | 780 | 786 | 764 | 758 |
| WA APR | 4.43%−0.12pp | 4.48% | 4.61% | — | — |
| WA original term mo | 36.0−0.0 | 35.0 mo | 40.4 mo | 35.1 mo | 37.0 mo |
| % new vehicles | 100.0% | — | — | — | — |
| Reserve % | — | — | — | — | — |
| Geo top-3 | CA 18.0% FL 15.0% NY 9.3% | MI 29.3% NY 14.1% FL 7.6% | CA 22.9% FL 16.3% NY 12.6% | MI 38.9% NY 10.8% CA 7.0% | FL 11.6% CA 11.6% TX 7.3% |
| Structure (at issuance) | |||||
| AAA spread | — | +50 bps | +52 bps | +41 bps | — |
| AAA % of pool | 47.0%−36.0pp | 76.2% | 100.0% | 81.8% | 84.2% |
| Subordination below AAA | 0.0%−8.1pp | 9.5% | 0.0% | 15.4% | 6.6% |
| Overcollateralization | — | — | — | — | — |
| Yield Supplement OC | — | — | — | — | — |
| Tranches | 5 | 7 | 5 | 8 | 7 |
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
No surveillance data published yet for this series in the SEC Auto Lease ABS Data Explorer (typical for deals less than ~6 months old, or for issuers that don't populate liquidationProceedsAmount in ABS-EE filings).
Open the SEC Auto Lease ABS Data Explorer ↗ for the full interactive surveillance dashboard.