CarMax Auto Funding LLC Files 8-K for Auto Loan ABS
| Field | Detail |
|---|---|
| Company | Carmax Auto Funding LLC |
| Form Type | 8-K |
| Filed Date | Oct 17, 2025 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $1,300,000,000, $241,500,000, $315,000,000, $142,400,000, $457,400,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: securitization, auto-loans, debt-financing
Related Tickers: KMX
TL;DR
CarMax Auto Funding LLC filed an 8-K on Oct 15, 2025, related to auto loan securitization.
AI Summary
On October 15, 2025, CarMax Auto Funding LLC entered into a material definitive agreement related to asset-backed securities, specifically auto loans. This filing also includes other events and financial statements/exhibits.
Why It Matters
This filing indicates ongoing securitization activities for CarMax's auto loans, which is a key funding mechanism for the company.
Risk Assessment
Risk Level: low — This is a routine filing related to securitization of auto loans, not indicating immediate financial distress or significant new risks.
Key Numbers
- 2025-4 — Trust Series (Identifies the specific trust for the auto loan securitization.)
Key Players & Entities
- CARMAX AUTO FUNDING LLC (company) — Filer
- CarMax Auto Owner Trust 2025-4 (company) — Related Trust
- October 15, 2025 (date) — Date of earliest event reported
- 12800 TUCKAHOE CREEK PARKWAY (address) — Business and Mail Address
- RICHMOND, VA (location) — Business and Mail City/State
FAQ
What type of agreement was entered into by CarMax Auto Funding LLC?
CarMax Auto Funding LLC entered into a material definitive agreement related to asset-backed securities, specifically auto loans.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is October 15, 2025.
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.
What is the Central Index Key (CIK) for CarMax Auto Funding LLC?
The Central Index Key (CIK) for CarMax Auto Funding LLC is 0001259380.
What is the Standard Industrial Classification (SIC) code for CarMax Auto Funding LLC?
The Standard Industrial Classification (SIC) code for CarMax Auto Funding LLC is 6189 (ASSET-BACKED SECURITIES).
Filing Stats: 1,471 words · 6 min read · ~5 pages · Grade level 12.5 · Accepted 2025-10-17 15:46:37
Key Financial Figures
- $1,300,000,000 — riters has severally agreed to purchase $1,300,000,000 aggregate principal balance of various
- $241,500,000 — he collateral pool and the structure of $241,500,000 aggregate principal amount of the Class
- $315,000,000 — t-backed Notes (the "Class A-1 Notes"), $315,000,000 aggregate principal amount of the Class
- $142,400,000 — -backed Notes (the "Class A-2a Notes"), $142,400,000 aggregate principal amount of the Class
- $457,400,000 — -backed Notes (the "Class A-2b Notes"), $457,400,000 aggregate principal amount of the Class
- $91,430,000 — t-backed Notes (the "Class A-3 Notes"), $91,430,000 aggregate principal amount of the Class
- $23,520,000 — t-backed Notes (the "Class A-4 Notes"), $23,520,000 aggregate principal amount of the Class
- $15,680,000 — set-backed Notes (the "Class B Notes"), $15,680,000 aggregate principal amount of the Class
- $13,070,000 — -backed Notes (the "Class C Notes") and $13,070,000 aggregate principal amount of the Class
Filing Documents
- d23889d8k.htm (8-K) — 29KB
- d23889dex11.htm (EX-1.1) — 182KB
- d23889dex41.htm (EX-4.1) — 945KB
- d23889dex42.htm (EX-4.2) — 248KB
- d23889dex51.htm (EX-5.1) — 9KB
- d23889dex81.htm (EX-8.1) — 10KB
- d23889dex361.htm (EX-36.1) — 5KB
- d23889dex991.htm (EX-99.1) — 619KB
- d23889dex992.htm (EX-99.2) — 115KB
- d23889dex993.htm (EX-99.3) — 90KB
- d23889dex994.htm (EX-99.4) — 162KB
- g23889g1016101742679.jpg (GRAPHIC) — 3KB
- 0001193125-25-242433.txt ( ) — 2420KB
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit No. Description 1.1 Underwriting Agreement, dated as of October 15, 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 October 1, 2025, between CarMax Auto Owner Trust 2025-4 and Wilmington Trust, National Association, as indenture trustee. 4.2 Amended and Restated Trust Agreement, to be dated October 1, 2025, between CarMax Auto Funding LLC, as depositor, and U.S. Bank Trust National Association, as owner trustee. 5.1 Opinion of Mayer Brown LLP, dated as of October 17, 2025, with respect to enforceability of securities. 8.1 Opinion of Mayer Brown LLP, dated as of October 17, 2025, with respect to tax matters. 23.1 Consent of Mayer Brown LLP (included as part of Exhibit 5.1 and Exhibit 8.1 ). 36.1 Depositor CEO Certification 99.1 Sale and Servicing Agreement, to be dated October 1, 2025, among CarMax Business Services, LLC, as servicer, CarMax Auto Funding LLC, as depositor, and CarMax Auto Owner Trust 2025-4. 99.2 Receivables Purchase Agreement, to be dated October 1, 2025, between CarMax Business Services, LLC, as seller, and CarMax Auto Funding LLC, as purchaser. 99.3 Administration Agreement, to be dated October 1, 2025, among CarMax Business Services, LLC, as administrator, CarMax Auto Owner Trust 2025-4 and Wilmington Trust, National Association, as indenture trustee. 99.4 Asset Representations Review Agreement, to be dated October 1, 2025, among CarMax Auto Owner Trust 2025-4, CarMax Business Services, LLC, as servicer, and Clayton Fixed Income Services LLC, as asset representations reviewer.
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: October 17, 2025 By: /s/ Greg Dostich Name: Greg Dostich Title: Vice President and Treasurer