☒
          ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 
 
  
 ☐
          TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934







































|Delaware
          (State or other jurisdiction of
          incorporation or organization of issuing entity)                                                          | 22-2013053
          (I.R.S. Employer
          Identification No. of issuing entity)
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------
|                                                                                                                                                                       |                                                                                      
|c/o BMW Financial Services NA, LLC
          300 Chestnut Ridge Road
          Woodcliff Lake, NJ
          (Address of principal executive offices of issuing entity) | 07677-7739
          (Zip Code)                                                      







|Title of each class | Trading Symbol(s) | Name of each exchange on which registered
|------------------- | ----------------- | -----------------------------------------
|Not applicable      | Not applicable    | Not applicable                           








































|Large accelerated filer | ☐ |  | Accelerated filer         | ☐
|----------------------- | - |  | ------------------------- | -
|Non-accelerated filer   | ☒ |  | Smaller reporting company | ☐
|                        |   |  | Emerging growth company   | ☐









































Item 1. Business.


Item 1A. Risk Factors.


Item 2. Properties.


Item 3. Legal Proceedings.




Item 1B. Unresolved Staff Comments.








Item 4. Mine Safety Disclosures.





























































The National Collegiate Student Loan Master Trust I, et al. v. U.S. Bank National Association, et al.



































Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity
      Securities.


Item 6. Selected Financial Data.


Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.


Item 7A. Quantitative and Qualitative Disclosures About Market Risk.


Item 8. Financial Statements and Supplementary Data.


Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.


Item 9A. Controls and Procedures.
























Item 10. Directors, Executive Officers and Corporate Governance.


Item 11. Executive Compensation.


Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.


Item 13. Certain Relationships and Related Transactions, and Director Independence.


Item 14. Principal Accounting Fees and Services.



















































(a) The following documents are filed as part of this report:




(1)
            Not applicable.


(2)
            Not applicable.


(3)
            See Item 15(b) below.




(b) Exhibits Required by Item 601 of
      Regulation S-K.




|Exhibit Number | Description                                                                                                                                                                                                                                                                                                                                                                                                
|-------------- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|3.1            | Certificate of Formation of BMW Auto Leasing LLC (the
              “Depositor”), as currently in effect, incorporated by reference to Exhibit 3.1 to Amendment No. 2 to Registration Statement on Form S-1 (File Number 333-43128-01), filed with the SEC by the Depositor on October 31, 2000.                                                                                                           
|3.2            | Amended and Restated Limited Liability Company Agreement of the
              Depositor, as amended and currently in effect, incorporated by reference to Exhibit 3.2 to Registration Statement on Form SF-3 (File Number 333-227645) filed with the SEC by the Depositor on October 1, 2018.                                                                                                              
|3.3            | Agreement of Limited Partnership of BMW Manufacturing
              L.P. (“BMW LP”), dated as of February 12, 1996, between BMW Facility Partners, Inc. and BMW Financial Services NA, LLC (“BMW FS”), incorporated by reference to Exhibit 3.3 to Amendment No. 2 to Registration Statement on Form S-1 (File Number
              333-43128-01), filed with the SEC by the Depositor on October 31, 2000.
|4.1            | Indenture, dated as of October 25, 2017, between BMW Vehicle Lease
              Trust 2017-2 (the “Issuing Entity”) and U.S. Bank National Association, as indenture trustee (the “Indenture Trustee”), incorporated by reference to Exhibit 4.1 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on
              October 25, 2017.                                            
|10.1           | Trust Agreement, amended and restated as of September
              27, 1996, by and between BMW LP and BNY Mellon Trust of Delaware, formerly known as The Bank of New York (Delaware), as trustee, incorporated by reference to Exhibit 10.1 to Amendment No. 2 to Registration Statement on Form S-1 (File Number
              333-43128-01), filed with the SEC by the Depositor on October 31, 2000. 
|10.2           | Vehicle Trust Supplement, dated as of October 25, 2017, between BMW
              LP, as grantor and UTI Beneficiary, and BNY Mellon Trust of Delaware, formerly known as The Bank of New York (Delaware), as vehicle trustee, incorporated by reference to Exhibit 10.2 to the Issuing Entity’s Form 8-K, filed with the SEC by the
              Issuing Entity on October 25, 2017.                     
|10.3           | Servicing Agreement, dated as of August 30, 1995 (the
              “Basic Servicing Agreement”), between Financial Services Vehicle Trust (“FSVT”) and BMW FS, incorporated by reference to Exhibit 10.3 to Amendment No. 2 to Registration Statement on Form S-1 (File Number 333-43128-01), filed with the SEC by
              the Depositor on October 31, 2000.                                      
|10.4           | 2017-2 SUBI Servicing Supplement, dated as of October 25, 2017,
              among BMW FS, as servicer, FSVT, as vehicle trust, and BMW LP, as UTI Beneficiary, incorporated by reference to Exhibit 10.4 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on October 25, 2017, to the Basic
              Servicing Agreement.                                                 
|10.5           | SUBI Certificate Transfer Agreement, dated as of October 25, 2017,
              between BMW LP, as transferor, and the Depositor, as transferee, incorporated by reference to Exhibit 10.5 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on October 25, 2017.                                                                                                                
|10.6           | Issuer SUBI Certificate Transfer Agreement, dated as of October 25,
              2017, between the Depositor, as transferor, and the Issuing Entity, as transferee, incorporated by reference to Exhibit 10.6 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on October 25, 2017.                                                                                             
|10.7           | Amended and Restated Trust Agreement, dated as of October 25, 2017,
              between the Depositor and Wilmington Trust, National Association, as owner trustee, incorporated by reference to Exhibit 10.7 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing Entity on October 25, 2017.                                                                                            







|10.8  | Issuer Administration Agreement, dated as of
              October 25, 2017, among BMW FS, as administrator, the Issuing Entity, the Depositor, as transferor, and the Indenture Trustee, incorporated by reference to Exhibit 10.8 to the Issuing Entity’s Form 8-K, filed with the SEC by the Issuing
              Entity on October 25, 2017.                                                
|----- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|10.9  | Back-Up Security Agreement, dated as of
              October 25, 2017, among FSVT, BMW LP, the Depositor, the Issuing Entity and the Indenture Trustee, incorporated by reference to Exhibit 10.9 to the Issuing Entity’s Form 8‐K, filed with the SEC by the Issuing Entity on October 25, 2017.                                                                                               
|10.10 | Asset Representations Review Agreement, dated as of October 25,
              2017, among BMW FS, the Issuing Entity and Clayton Fixed Income Services, LLC, as asset representations reviewer, incorporated by reference to Exhibit 10.10 to the Issuing Entity’s Form 8‐K, filed with the SEC by the Issuing Entity on October
              25, 2017.                                         
|10.11 | Control Agreement, dated as of October 25, 2017, among the
              Depositor, as transferor, the Issuing Entity, as initial-secured party, and U.S. Bank National Association, as Indenture Trustee and as assignee-secured party, incorporated by reference to Exhibit 10.11 to the Issuing Entity’s Form 8-K, filed
              with the SEC by the Issuing Entity on October 25, 2017.
|31.1* | Certification pursuant to Section 302 of the
              Sarbanes-Oxley Act of 2002.                                                                                                                                                                                                                                                                                                           
|33.1* | Certification Regarding Compliance
              with Applicable Servicing Criteria for BMW FS.                                                                                                                                                                                                                                                                                                  
|33.2* | Management’s Assertion − Report
              on Assessment of Compliance with Applicable Servicing Criteria for U.S. Bank National Association.                                                                                                                                                                                                                                                 
|34.1* | Report of Independent Registered Public Accounting Firm
              of CohnReznick LLP, relating to BMW FS.                                                                                                                                                                                                                                                                                    
|34.2* | Report of Independent Registered Public Accounting Firm
              of Ernst & Young LLP, relating to U.S. Bank National Association.                                                                                                                                                                                                                                                          
|35.1* | Servicer Compliance Statement of BMW FS.                                                                                                                                                                                                                                                                                                                                                         






















|               | BMW VEHICLE LEASE TRUST 2017-2
|-------------- | ------------------------------
|               | (Issuing Entity)              
|               |                               
|               | By:                           
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|March 18, 2020 | By:                           
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