CarMax Auto Owner Trust 2026-1 issues $1.3B in asset-backed notes; classes A-1 through D

CARMAX AUTO FUNDING LLC

Underwriting agreement signed Jan 21, 2026 for $1.3B aggregate principal balance of asset-backed notes.
Notes include $317M Class A-1, $250M A-2a, $170.5M A-2b, $420.5M A-3, $85.16M A-4, $26.13M B, $17.64M C, $13.07M D.
Issuance expected on or about January 28, 2026, backed by auto receivables originated by CarMax.
Proceeds to be used to purchase motor vehicle retail installment sale contracts; MUFG Securities Americas Inc. as underwriter representative.
Transaction structured through special-purpose trust with various servicer, trustee, and control agreements.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CARMAX AUTO FUNDING LLC entered into Underwriting Agreement with MUFG Securities Americas Inc., as representative of the several underwriters named therein valued at $1,300,000,000 aggregate principal balance (effective 2026-01-21).

Action: entry
Agreement: underwriting
Counterparty: MUFG Securities Americas Inc., as representative of the several underwriters named therein
Value: $1,300,000,000 aggregate principal balance
Effective: 2026-01-21

Exact text from the filing

On January 21, 2026, CarMax Business Services, LLC (“CarMax Business Services”) and CarMax Auto Funding LLC (the “Depositor”) entered into an Underwriting Agreement with MUFG Securities Americas Inc., as representative of the several underwriters named therein (collectively, the “Underwriters”), whereby each of the Underwriters has severally agreed to purchase $1,300,000,000 aggregate principal balance of various classes of Asset-backed Notes to be issued by CarMax Auto Owner Trust 2026-1 (the “Issuing Entity”)

View on SEC.gov

284 material agreements filed in the last 30 days. Browse all material agreements →

Source: SEC EDGAR

accession 0001193125-26-020910

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.