EXHIBIT 99.1
BMW Vehicle Lease Trust 2000-A
Collection Period Ending: 5/31/03
Distribution Date: 6/25/03
- ------------------------------------------------------------------------------------------------------------------------------------
Balances
- ------------------------------------------------------------------------------------------------------------------------------------
Initial Period End
Securitization Value $1,547,538,089 $116,707,265
Reserve Account $81,245,750 $99,383,054
Class A-1 Notes $180,000,000 $0
Class A-2 Notes $600,000,000 $0
Class A-3 Notes $300,000,000 $0
Class A-4 Notes $389,660,000 $38,829,176
Subordinated Note $30,951,089 $30,951,089
Class B Certificates $46,927,000 $46,927,000
Current Collection Period
- ------------------------------------------------------------------------------------------------------------------------------------
Beginning Securitization Value $182,836,841
Principal Reduction Amount $66,129,576
Ending Securitization Value $116,707,265
Calculation of Required 2000-A SUBI Collection Account Amount
Collections
Receipts of Monthly Payments $2,936,591
Sale Proceeds $26,183,721
Termination Proceeds $43,396,931
Recovery Proceeds $1,344,105
Total Collections $73,861,348
Servicer Advances $22,203,270
Reimbursement of Previous Servicer Advances ($29,909,065)
Release from Reserve Account $1,164,071
Required 2000-A SUBI Collection Account Amount $67,319,624
Servicer Advance Amounts
- ------------------------------------------------------------------------------------------------------------------------------------
Beginning Period Unreimbursed Previous Servicer Advance $57,460,463
Current Period Monthly Payment Advance $226,085
Current Period Sales Proceeds Advance $21,977,185
Current Reimbursement of Previous Servicer Advance ($29,909,065)
Ending Period Unreimbursed Previous Servicer Advances $49,754,668
Collection Account
- ------------------------------------------------------------------------------------------------------------------------------------
Deposits to 2000-A SUBI Collection Account $67,319,624
Withdrawals from 2000-A SUBI Collection Account
Servicing Fees $152,364
Note Distribution Account Deposit $583,396
Reserve Fund Deposit - Subordinated Noteholder Interest $180,548
Certificate Distribution Account Deposit $273,741
Monthly Principal Distributable Amount $66,129,576
Reserve Fund Deposit - Excess Collections $0
Payments to Transferor $0
Total Distributions from 2000-A SUBI Collection Account $67,319,624
Note Distribution Account
- ------------------------------------------------------------------------------------------------------------------------------------
Amount Deposited from the Collection Account $66,712,972
Amount Deposited from the Reserve Account $0
Amount Paid to Noteholders $66,712,972
Certificate Distribution Account
- ------------------------------------------------------------------------------------------------------------------------------------
Amount Deposited from the Collection Account $273,741
Amount Deposited from the Reserve Account $0
Amount Paid to Certificateholders $273,741
Distributions
- ------------------------------------------------------------------------------------------------------------------------------------
Monthly Principal Distributable Amount Current Payment Ending Balance Per $1,000 Factor
Class A-1 Notes $0 $0 $0.00 0.00%
Class A-2 Notes $0 $0 $0.00 0.00%
Class A-3 Notes $0 $0 $0.00 0.00%
Class A-4 Notes $66,129,576 $38,829,176 $169.71 9.96%
Subordinated Note $0 $30,951,089 $0.00 100.00%
Class B Certificates $0 $46,927,000 $0.00 100.00%
Interest Distributable Amount Current Payment Per $1,000
Class A-1 Notes $0 $0.00
Class A-2 Notes $0 $0.00
Class A-3 Notes $0 $0.00
Class A-4 Notes $583,396 $1.50
Subordinated Note $180,548 $5.83
Class B Certificates $273,741 $5.83
Carryover Shortfalls
- ------------------------------------------------------------------------------------------------------------------------------------
Prior Period Current Payment Per $1,000
Carryover
Class A-1 Interest Carryover Shortfall $0 $0 $0
Class A-2 Interest Carryover Shortfall $0 $0 $0
Class A-3 Interest Carryover Shortfall $0 $0 $0
Class A-4 Interest Carryover Shortfall $0 $0 $0
Subordinated Note Interest Carryover Shortfall $0 $0 $0
Certificate Interest Carryover Shortfall $0 $0 $0
Reserve Account
- ------------------------------------------------------------------------------------------------------------------------------------
Beginning Period Required Amount $104,458,821
Beginning Period Amount $100,283,752
Net Investment Earnings $82,825
Current Period Deposit $180,548
Reserve Fund Draw Amount $1,164,071
Release of Excess Funds $0
Ending Period Required Amount $104,458,821
Ending Period Amount $99,383,054
Residual Value Losses
- ------------------------------------------------------------------------------------------------------------------------------------
Current Period Cumulative
Net Sale Proceeds $69,072,876 $851,454,668
Residual Values $74,681,595 $905,255,321
Residual Value Losses $5,608,719 $53,800,653
Receivables Data
- ------------------------------------------------------------------------------------------------------------------------------------
Beginning of Period Lease Balance $203,633,757
End of Period Lease Balance $130,444,749
Delinquencies Aging Profile - End of Period Lease Balance Dollar Amount Percentage
Current $119,768,443 91.82%
1-29 days $9,304,924 7.13%
30-59 days $1,106,718 0.85%
60-89 days $264,664 0.20%
90-119 days $0 0.00%
120+ days $0 0.00%
Total $130,444,749 100.00%
Delinquent Receivables +30 days past due $1,371,382 1.05%
Credit Losses Current Period Cumulative
Liquidated Lease Balance $614,843 $18,938,356
Liquidation Proceeds $469,831 $13,546,153
Recovery Proceeds $19,273 $627,094
Net Credit Losses $125,739 $4,765,109
NOTE: Liquidation Proceeds includes proceeds received from repossessed
vehicles otherwise included in "Sale Proceeds" or "Termination
Proceeds." Recovery Proceeds includes the portion of "Recovery
Proceeds" related to specified leases which have been charged-off.