CarMax Auto Funding LLC Files 8-K for Auto Loan ABS
| Field | Detail |
|---|---|
| Company | Carmax Auto Funding LLC |
| Form Type | 8-K |
| Filed Date | Sep 19, 2025 |
| Risk Level | low |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $840,950,000, $203,800,000, $303,160,000, $177,040,000, $60,920,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: securitization, auto-loans, debt-issuance
TL;DR
CarMax Auto Funding LLC filed an 8-K for auto loan ABS, signaling continued securitization activity.
AI Summary
CarMax Auto Funding LLC, on September 17, 2025, entered into a material definitive agreement related to asset-backed securities, specifically auto loans. This filing also includes other events and financial statements/exhibits. The company is incorporated in Delaware and headquartered in Richmond, VA.
Why It Matters
This filing indicates ongoing securitization activities for CarMax's auto loan portfolio, which is a key funding mechanism for the company.
Risk Assessment
Risk Level: low — This is a routine filing related to securitization activities and does not appear to contain negative news.
Key Players & Entities
- CARMAX AUTO FUNDING LLC (company) — Filer of the 8-K
- CarMax Select Receivables Trust 2025-B (company) — Related entity for securitization
- September 17, 2025 (date) — Date of earliest event reported
- Richmond, VA (location) — Company headquarters
FAQ
What type of material definitive agreement was entered into by CarMax Auto Funding LLC?
The filing indicates the agreement is related to asset-backed securities, specifically auto loans.
What is the Central Index Key for CARMAX AUTO FUNDING LLC?
The Central Index Key for CARMAX AUTO FUNDING LLC is 0001259380.
What is the fiscal year end for CARMAX AUTO FUNDING LLC?
The fiscal year end for CARMAX AUTO FUNDING LLC is 0228.
What is the SEC file number for CarMax Select Receivables Trust 2025-B?
The SEC file number for CarMax Select Receivables Trust 2025-B is 333-288943-01.
What is the primary business address for CARMAX AUTO FUNDING LLC?
The primary business address is 12800 TUCKAHOE CREEK PARKWAY, SUITE 400, RICHMOND, VA 23238.
Filing Stats: 1,796 words · 7 min read · ~6 pages · Grade level 11.8 · Accepted 2025-09-19 16:08:20
Key Financial Figures
- $840,950,000 — riters has severally agreed to purchase $840,950,000 aggregate principal balance of various
- $203,800,000 — he collateral pool and the structure of $203,800,000 aggregate principal amount of the Class
- $303,160,000 — t-backed Notes (the "Class A-1 Notes"), $303,160,000 aggregate principal amount of the Class
- $177,040,000 — t-backed Notes (the "Class A-2 Notes"), $177,040,000 aggregate principal amount of the Class
- $60,920,000 — t-backed Notes (the "Class A-3 Notes"), $60,920,000 aggregate principal amount of the Class
- $71,540,000 — set-backed Notes (the "Class B Notes"), $71,540,000 aggregate principal amount of the Class
- $68,770,000 — -backed Notes (the "Class C Notes") and $68,770,000 aggregate principal amount of the Class
- $14,770,000 — etained Notes, the "Offered Notes") and $14,770,000 aggregate principal amount of the Class
Filing Documents
- d15649d8k.htm (8-K) — 33KB
- d15649dex11.htm (EX-1.1) — 176KB
- d15649dex41.htm (EX-4.1) — 901KB
- d15649dex42.htm (EX-4.2) — 348KB
- d15649dex43.htm (EX-4.3) — 222KB
- d15649dex51.htm (EX-5.1) — 10KB
- d15649dex52.htm (EX-5.2) — 18KB
- d15649dex81.htm (EX-8.1) — 11KB
- d15649dex361.htm (EX-36.1) — 4KB
- d15649dex991.htm (EX-99.1) — 639KB
- d15649dex992.htm (EX-99.2) — 119KB
- d15649dex993.htm (EX-99.3) — 75KB
- d15649dex994.htm (EX-99.4) — 99KB
- d15649dex995.htm (EX-99.5) — 168KB
- g15649dsp06.jpg (GRAPHIC) — 12KB
- g15649dsp06a.jpg (GRAPHIC) — 10KB
- g15649g0918121754430.jpg (GRAPHIC) — 3KB
- 0001193125-25-209071.txt ( ) — 2861KB
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit No. Description 1.1 Underwriting Agreement, dated as of September 17, 2025, by and among CarMax Business Services, LLC, as servicer, CarMax Auto Funding LLC, as depositor, and J.P. Morgan Securities LLC, as representative of the several underwriters named therein. 4.1 Indenture, to be dated September 1, 2025, between CarMax Select Receivables Trust 2025-B, CarMax Select Receivables Grantor Trust 2025-B and Wilmington Trust, National Association, as indenture trustee. 4.2 Amended and Restated Trust Agreement, to be dated September 1, 2025, between CarMax Auto Funding LLC, as depositor, and U.S. Bank Trust National Association, as owner trustee. 4.3 Amended and Restated Grantor Trust Agreement, to be dated September 1, 2025, between CarMax Select Receivables Trust 2025-B, as grantor trust seller, and U.S. Bank Trust National Association, as grantor trust trustee. 5.1 Opinion of Mayer Brown LLP, dated as of September 19, 2025, with respect to enforceability of securities. 5.2 Opinion of Richards, Layton & Finger, P.A. dated as of September 19, 2025, with respect to enforceability of the Grantor Trust Certificate. 8.1 Opinion of Mayer Brown LLP, dated as of September 19, 2025, with respect to tax matters. 23.1 Consent of Mayer Brown LLP (included as part of Exhibit 5.1 and Exhibit 8.1 ). 23.2 Consent of Richards, Layton & Finger, P.A. (included as part of Exhibit 5.2 ). 36.1 Depositor CEO Certification 99.1 Sale and Servicing Agreement, to be dated September 1, 2025, among CarMax Business Services, LLC, as servicer, CarMax Auto Funding LLC, as depositor, CarMax Select Receivables Trust 2025-B and CarMax Select Receivables Grantor Trust 2025-B. 99.2 Receivables Purchase Agreement, to be dated September 1, 2025, between CarMax Business Services, LLC, as seller, and CarMax Auto Funding LLC, as purchaser. 99.3 Receivables Contribution Agreement, to be dated September 1, 20
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the depositor has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CarMax Auto Funding LLC (Depositor) Dated: September 19, 2025 By: /s/ Greg Dostich Name: Greg Dostich Title: Vice President and Treasurer